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Breaking Exclusive Interviews Precious Metals

StrikePoint Gold – Exploring High-Grade Gold and Silver Projects in the Golden Triangle of B.C.

Maurice Jackson:

Joining us for conversation is Shawn Khunkhun the CEO of Strikepoint Gold (TSX.V: SKP | OTC: STKXF). Glad to have you on the program to share the opportunity before us at Strikepoint Gold. Before we delve into company specifics, Mr. Khunkhun, please introduce us to Strikepoint Gold and the opportunity the company presents to shareholders.

Shawn Khunkhun:

Strikepoint is an exploration company, advancing high-grade properties in safe jurisdictions. I repurposed the company back in 2016, the gold price had been cutting out and majors were not exploring, nor developing. And the thinking was we could buy it projects for pennies on the dollar. We could advance them. And in the future, we could move those projects along to the Major that are looking to secure development pipelines.

Maurice Jackson:

You have a reputation for having astute business acumen and great use of optionality on how you establish the company. Looking at the map before Strikepoint Gold has the property bank situated in the prolific Golden Triangle, get us acquainted with the region and some of your neighbors.

Shawn Khunkhun:

Okay. So, near the Triangle, it’s an area that exploration has been going on for over a hundred years. It’s produced some of the richest gold mines in the world. If you look at the Premier Mine that Ascot is currently holding, that was one of the richest modern mines in the modern era, in terms of several ounces, in terms of grade. Eskay Creek, a strong gold and silver mine. The Golden Triangle is known for large deposits, high-grade deposits, and is one of the hottest mineral exploration hubs on the planet..  There’s just, it’s a flurry of activity with the discovery of Pretivm’s Brucejack, we’re seeing large companies like Newmont and Newcrest come into the area.  Noteworthy of mention, there is also tremendous infrastructure throughout the Triangle.

Maurice Jackson:

Let’s go on-site and find out more. Sir, take us to the flagship Willoughby Project and introduce us to the value proposition before us.

Shawn Khunkhun:

The Willoughby Project is a spectacular world-class discovery that was originally explored in 1989 to 1996 time period. There were about 120 drill holes, and there were some robust grades of 20-gram gold over 20 meters thickness that were discovered. During that time the Bre-X scandal happened and you also had the gold price heading down to just under $200 an ounce in 1999. So it was a very, very difficult time for the mineral resource industry.  e acquired the property in 2018.. There’s a lot of grade on the project and we are excited about the opportunity before us. We are trying to connect the dots in-between zones. So, that’s the value proposition, linking these zones to show that this is a mineable project.

Maurice Jackson:

I referenced business acumen, when and under what terms was Strikepoint Gold able to acquire the Willoughby Gold Project?

Shawn Khunkhun:

That’s an interesting story. So back in October of 2018, the gold price got sold down to about $1,100 an ounce. And at that moment, we were able to acquire Willoughby for $85,000 in cash. And by issuing three million shares of Strikepoint, which at that time was valued at about half a million dollars. Considering the amount of drilling that was done on the property, its proximity to Red Mountain, which was subsequently acquired by Ascot. It was a once-in-a-generation acquisition for the company.

Maurice Jackson:

Germane to the value proposition and exploration thesis is an important stratigraphic marker known as the Red Line. What is the Red Line and where is it in relation to the Willoughby Gold Project?

Shawn Khunkhun:

There are two BCGS geologists, Jeff Kyba and JoAnne Nelson, and as they were looking at this tremendous area that’s produced very high-grade deposits. They were trying to look at a model, a geological model to identify where to look for the next giant gold, silver, and copper deposits in the region. So Kyba and Nelson came up with this theory and it’s a theory that has been widely accepted by the scientific community and identifies a contact. The big deposits in the Golden Triangle are found within two kilometers of where two different rock types meet. So this is the Triassic to the rocks and the Jurassic Hazelton formation. These are two different rock types that meet within two kilometers of that contact, which have produced some of the biggest deposits in the region are found.

Maurice Jackson:

Thus far, we’ve been able to determine that Strikepoint Gold is in a friendly mind jurisdiction, located in the prolific Golden Triangle, neighboring some very prominent names, and the project is along the Red Line. Two prong question, can you delve a little further into historic resource and share some of the grades with us?

Shawn Khunkhun:

The Willoughby does not have a formal 43-101 compliant resource on the property, however, the historic resource has about eight different areas throughout the Willoughby property where there’s tremendous grade and there’s been a lot of drilling. So, on the back of a napkin, I don’t want to speculate in terms of ounces, but what we’re looking for here is the neighboring Red Mountain deposit, which is just under a million ounces at about 7.5 grams per ton. We think this is analogous to Red Mountain. And if you look at the footprints of the mineralization from surface, it leads us to believe that we’re onto a very, very large gold system here. So, this season is going to be crucial. We’ve done some significant work on the property to date.

Shawn Khunkhun:

We’ve got assays pending and we’re trying to accomplish two things. Number one, link different zones of mineralization. Number two, we’re looking for where we could fit a deposit into the system. And we are drilling somewhat I would describe as Wildcat holes into areas that should host a very, very large system. There are two opportunities on the property. One is for a KSM style disseminated large system. These are two systems, one’s 40 million ounces of gold and the other is 10 million ounces of gold. And then the other opportunity is for a higher-grade epithermal vein-rich system. We have seen both types of mineralization on the property. And if you look at what Ascot is doing in terms of their hub and spoke model, along Ascot you also have Yamana and Newmont. So there’s a huge appetite from a larger gold entities for consolidation and acquisition.

Maurice Jackson:

Speaking of Wildcat drilling, last month Strikepoint Gold announced the commencement of a 3000-meter drill program. How’s the program coming along and when can shareholders expect results?

Shawn Khunkhun:

The program’s going well. I was just up in Stewart, along with our technical advisor Rob McLeod.  Strikepoint Gold is blessed with one of the best teams in the exploration business. These are professionals that have worked on a lot of the big projects in the Golden Triangle. Originally came out with a 3000-meter program at Willoughby where we’re halfway through that program. It’s going exceptionally well. It’s on time, it’s on budget. It’s very difficult to speculate on assays because you are dealing with third-party labs. And if 2020 taught me anything, we were exceptionally delayed in assay times, but I would suspect that we’re going to have a very results-rich autumn season, a very result-rich fall after Labor Day and that we should be reporting ongoing into Q1.

Maurice Jackson:

Sounds very intriguing. If you enjoyed the value proposition of the Willoughby, wait till you hear about the Porter. Mr. Khunkhun, please introduce us to the Porter Silver Project.

Shawn Khunkhun:

But before we get specifically into Porter, I want to share with readers this goes beyond Porter. This goes more to why silver, and my last experience in a bull market for gold, when gold prices went from hundreds of dollars up to thousands of dollars into 2011, it was the silver stocks, the silver equities that delivered the best returns for resource investors. I was very deliberate during this cycle. In 2018, the company acquired Porter, we acquired it from Skeena resources. I was very deliberate in positioning the company with a high-grade silver property. If you look at the number of pure high-grade silver properties in the world, you could count them on a couple of hands. There are very few opportunities for resource investors in the silver space and even fewer outside of Chile, Argentina, Mexico, and Peru.

Shawn Khunkhun:

The Porter is in a safe jurisdiction. It’s a past-producing silver mine and one of the highest-grade silver mines I’ve ever come across in my career. The average production grades at Porter were 2,500 grams per ton, but it’s the exploration thesis. It’s the opportunity before that really has us excited. The high-grade mineralization is on both sides of Mount Rainey overlooking the town of Stewart. The Porter two kilometers from the town. but you’ve got this high-grade mineralization that’s at either side of Mount Rainey. We can see the Petro Canada Gas Station. the Deepwater Seaport going into the Portland Canal. Highway 37A.  So all the infrastructures there. So, you’ve got the Silverado Mine on one side, you’ve got Prosperity Porter Idaho on the other side. They’re separated by about two kilometers and there was a large glacier, the Silverado glacier that prohibited exploration in the past. That glacier is pulled back.

Shawn Khunkhun:

It’s opened up a new exploration corridor and we believe those two systems are going to meet. And when you have two systems meeting, you usually have exceptional grades. The opportunity there is to link up these two past-producing mines by drilling into the center of the mountain. And it’s an opportunity that previously was not accessible. And this is the season that Strikepoint test that theory. In addition to stepping out from each of the mines on either side, we’ve got step-outs where we’re trying to extend the known high-grade resources and known areas that were once in your production. But the real opportunity is a target that we call Big Flex. The Big Flex opportunity is a series of drill holes right into the center of the system where these two systems should meet. And, if we’re successful and if the assays come back anywhere in the neighborhood of where historic production grades were, this is going to be a transformational year for Strikepoint.

Maurice Jackson:

You referenced 2,500 grams per ton on the historical work. Let’s put that into perspective for readers.  What kind of grade would you a need to go into production?  

Shawn Khunkhun:

Not all deposits are the same. You’ve got underground mines and open-pit mines. Typically what you’d see at an open-pit silver mine is one-ounce material or 30 gram material. At an underground mine, you’re probably closer to 200 grams per tonne, which is about eight ounces roughly. So, we’re talking about a system here that is 10 times richer than most underground mines. That’s the opportunity here. And, just so you know that this isn’t the exception in the area. If you look at some of the giant silver mines in the area like Eskay Creek, they produced almost 200 million ounces of silver at better than 2000 grams per tonne. There’s a lot of precedent in this area for mines like this, Eskay is one example, at the Premier Mine there was a lot of high-grade silver recovered, at Pretivm’s Brucejack there’s a lot of high-grade silver that’s coming out. And just to the south of us is Dolly Varden Silver.

Maurice Jackson:

I see that Porter has a historic resource, is the goal to twin the holes?

Shawn Khunkhun:

No, the goal is not to twin the holes. The goal is to extend the known band. While we were drilling the Willoughby property last season in 2020, we sent a team out to do some surface work at Porter. They were looking to extend the veins at surface. This was the deep vein, the blind vein. This is on the Prosperity Porter Idaho side. We were successful. At surface, we had come up with new extensions, we’ve discovered new veins. And so the goal here is to extend and expand the known veins at both Silverado and Prosperity Porter Idaho. It’s to uncover new veins around that. But the big prize here is if we were able to come up with some structure, some mineralization in between those two zones that had never been explored.

Maurice Jackson:

You’ve also been busy doing some field mapping and grab samples, what were the results?

Shawn Khunkhun:

Recently, we’ve had up to 3,800 grams per tonne, but when we first acquired the property. At the Silverado side we’ve had up to 44,000 grams per tonne. This is one of the most exceptional specimens I’ve ever come across in my career and so up to 44,000 grams per tonne, that’s 20 times the average production grades.

Maurice Jackson:

All right. So let’s discuss some important topics that you’re main to your projects, and that is, are the projects 100% owned?

Shawn Khunkhun:

They are 100% owned.

Maurice Jackson:

And what is your relationship with the first nations?

Shawn Khunkhun:

There are two first nations groups in the area. South of Treaty Creek, we’re in Nisga’a territory. And so we’ve got a very, very strong relationship with the Nisga’a Nation. About a third of our workforce comes from Nisga’a and everyone from our team had a long history of just a very, strong relationship there. I’ve said this before, they’re our brothers, they’re sisters, they’re our friends. They’re truly our partners and it goes beyond Nisga’a, it’s everybody close to the Stewart community. These are non-first nations. These are non-indigenous peoples as well. We are truly from the north for the north and that’s our policy.

Maurice Jackson:

We’ve discussed the good, let’s address the bad, what can go wrong? And what are your action plans to mitigate that wrong?

Shawn Khunkhun:

In 2020, we had one of the worst weather years up in the Golden Triangle that we’ve seen in about a decade. And so that’s hasn’t been the case this year. But last year, if you scanned about two dozen junior resource companies and went through their financial statements, what you’d see is some companies we’re operating at a 30% production because of weather. I’m happy to report that Strikepoint last season, we combated the weather, and we were operating at about 90%, 95% productivity. So, we overcame weather, but weather can be a challenge in this part of the world. Apart from the weather, we went through the COVID pandemic in terms of more regulations and just a stronger adherence to health and safety.

Shawn Khunkhun:

We are always on high alert in terms of COVID outbreaks. And lastly, just with the scarcity of certain supplies. We started the season, we saw some trends in lumber in late 2020. We made all of our wood purchases in Q4 of 2020 and in late Q3, and thankfully so, because how do we try to secure lumbering in Q1 and Q2? We would have paid twice the price. Now, thankfully things like lumber and other costs have come down, but there is a shortage of certain goods and items. Sometimes there are some delays, but, those are the types of things that can go wrong.

Maurice Jackson:

All right. Let’s discuss the people responsible for increasing shareholder value. Mr. Khunkhun, please introduce us to your board of directors and management team, and what skill sets do they bring to Strikepoint Gold.

Shawn Khunkhun:

Strikepoint Gold has a diverse group, but, if you look at the skills and experience matrix, we’ve got a lot of boxes checked here. We’ve got a mining engineer, Ian Harris. Ian, was instrumental in the sale of Corriente Resources for about $690 million. We’ve got an exploration geologist, Adrian Fleming. I don’t think we have enough time to go through all of Adrian’s successes, but he’s just a tremendous mentor to the beyond geologists that work for the company. We’ve got a tremendous mining engineer. We’ve got a great exploration geologist. Carol Li, who is the chief financial officer for Ascot Resources and is on the board. And then beyond the board of directors, we’ve got advisors like Rob McLeod, Ryan Weymark, myself. To round things out, I come from a marketing and capital reserve background. So we’ve got all the right elements you need to move a company like Strikepoint forward.

Maurice Jackson:

Let’s get into some numbers. Please provide us with the capital structure for Strikepoint Gold.

Shawn Khunkhun:

Strikepoint has about 200 million shares issued and outstanding. Eric Sprott as the largest shareholder at close to 20%. We have a couple of corporate shareholders in Ascot, and Skeena. In terms of institutional ownership, I believe it’s around 40% and you’ve got tremendous names in the institutional leadership. You’ve got firms like Delbrook, Crescat, US Global, Gold 2000, Sprott. So, it’s all the who’s who in the resource fund space.

Maurice Jackson:

How much cash and cash equivalents do you have?

Shawn Khunkhun:

So, we’ve got about $10 million in the bank. And, we’ve got about a $4 million budget here. We should start the year with roughly $6 million. We should start January 1st, 2022 with about $6 million after all of our exploration expenditures and spending.

Maurice Jackson:

How much debt do you have?

Shawn Khunkhun:

Zero.

Maurice Jackson:

And if you can just remind us one more time, what is the float?

Shawn Khunkhun:

The float is roughly 40 million shares.

Maurice Jackson:

In closing, sir, what keeps you up at night that we don’t know about?

Shawn Khunkhun:

When our crew is in the field, they’re on my mind. I sleep like a baby come December when the crews are off the property. When you go to work with people, you start to care about them. And until everybody’s gone home to their families at Christmas, that’s the one thing in the back of my mind. And it’s part of the reason that we make our best efforts to go up and to spend time with our crews. Team morale is important.

Maurice Jackson:

Last question, what did I forget to ask?

Shawn Khunkhun:

One of the things that you should know is that I’ve personally invested about $500,000 dollars in Strikepoint, for me, that’s a material amount of money. And so my interests are aligned with shareholders’ interests, my family, and my friends. There’s a lot more in terms of reputation and then in personal a skin in the game. So, that’s one thing I’d like your viewers to know.

Maurice Jackson:

Mr. Khunkhun, it’s been a pleasure speaking with you today, wishing you and Strikepoint Gold the absolute best, sir.

And as a reminder, I am a licensed representative to buy and sell precious metals through Miles Franklin Precious Metals Investments, where we have several options to expand your precious metals portfolio, from physical delivery of gold, silver, platinum, palladium, and rhodium, to offshore depositories, and precious metals IRA’s. Give me a call at 855.505.1900 or you may email: Maurice@MilesFranklin.com.  Finally, please subscribe to www.provenandprobable.com, where we provide: Mining Insights and Bullion Sales, subscription is free.

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Junior Mining Precious Metals

Rover Metals August Corporate Update

Rover Metals Stands in Support of Local Community

Local employment showcased during Phase 2 Exploration at Cabin Gold Project
Local employment showcased during Phase 2 Exploration at Cabin Gold Project
Local employment showcased during Phase 2 Exploration at Cabin Gold Project

VANCOUVER, British Columbia, Aug. 10, 2021 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4X0) (“Rover” or the “Company”) discusses the positive impact of the Cabin Gold project on the local community: https://rovermetals.com/landingpages/aug2021corporateupdate.html

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ffc80748-bc7e-4058-88a9-bed31aa9d731

About Rover Metals
Rover is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company commenced Phase 2 Exploration at its Cabin Gold Project this summer.

Stock Option Grants
The Company has re-engaged Momentum PR (“Momentum”) to provide another six months of investor relations services. Pursuant to the renewal of the Momentum contract, the Company has granted 750,000 stock options with a four year life on the following terms: 175,000 options vesting September 30, 2021 with an exercise price of $0.125; 175,000 options vesting December 31, 2021 with an exercise price of $0.150; 175,000 options vesting March 31, 2022 with an exercise price of $0.175; and 175,000 options vesting June 30, 2022 with an exercise price of $0.200. The Company has also granted 52,400 stock options to a consultant. The 52,400 options are fully vested on grant, have a life of four years, and have an exercise price of $0.15.

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.
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

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.

Categories
Breaking Exclusive Interviews Junior Mining Uncategorized

Labrador Gold – Kingsway Gold Project, String of Golden Pearls

Maurice Jackson:

Joining us for a conversation is Roger Moss, the CEO of Labrador Gold (TSX.V: LAB | OTCQX: INOKF). It’s a pleasure to be speaking with you sir, as you have some very encouraging news coming from the Kingsway Gold Project, this time in the form of pristine gold grains. Before we begin, Dr. Moss, who is Labrador Gold, and what is the opportunity the company presents to shareholders?

Dr. Roger Moss:

Labrador Gold is a junior mining company based in Canada, and we’re currently exploring in Newfoundland on our flagship Kingsway Gold Project. We’ve done quite a bit of work on there over the last year, and this Spring we embarked on a 50,000-meter drill program.  We made a discovery late last year of visible gold in quartz grain boulders. And we’ve been drilling for a few months with some nice high-grade hits. We are quite excited about the potential before us, and our recent press releases seem to indicate that we may be onto something.  And today’s news adds even more to the story.

Maurice Jackson:

Dr. Moss take us to the Kingsway Gold Project, which is along a structure highway known for gold-bearing fluids, please acquaint us with the primary structures.

Dr. Roger Moss:

One of the things that interested me about Kingsway when I first heard about it and we moved to acquire it, was the fact that we had these major crustal structures running through it. And we know that the kinds of gold deposits that we’re looking at here, orogenic and epigenetic gold deposits, they are associated with these major crustal structures. If you have them, it’s great, you can find gold along them. And we are fortunate enough to have two, the Appleton Fault Zone and Dog Bay Line. Most of our work to date has been along the Appleton Fault Zone, and it’s almost a no brainer because down to the south of us where New Found Gold are exploring, they’ve been having incredible success exploring along the Appleton Fault Zone with their great intersections at Keats and Lotto, and most recently at the Golden Joint, so they have three occurrences down there along the Appleton Fault Zone, and ours is just starting, and our Big Vein target is also located along the Appleton Fault Zone. It seems to be a pretty prospective structure that’s running through the property.

Maurice Jackson:

Speaking of the Big Vein in the Appleton Fault Zone, at the conclusion of our last interview, you stated that, “the Big Vein may be the first of many occurrences and that the ideal situation is finding a string of pearls along the Appleton Fault Zone.” Let’s see if the ideal has the potential to come to fruition. Let’s visit the Appleton Fault Zone as earlier today, Labrador Gold announced till results of pristine gold grains. Dr. Moss, what can you share with us?

Dr. Roger Moss:

Labrador recently conducted a pretty big till sampling survey over the lowermost, southernmost two licenses of the Kingsway Project. And I think there was 57 till samples in total, and we got some nice results and the key here, and I think you said it twice, I’m going to say it again, is pristine. Pristine gold grains and that means that these grains haven’t traveled very far from their source, and that’s what we see here in these results.

Dr. Roger Moss:

If I may just digress a little bit so that I can explain why these pristine grains are so important. We’re looking at rocks and grains that have been dumped out of glaciers as they melt and recede, so when the glaciers move across the rock, they scrape and scour the bedrock and they entrain all the material that they’re scouring and they carry it with them, and when they recede and melt, they start dropping that material all the way back to the source, so the more pristine the gold grains are, the closer to the source they would have been because you can’t transport these very flaky gold grains very far without completely modifying their shape.

Dr. Roger Moss:

And so, in terms of gold grain morphology for till sampling, we talk about pristine, closest to the source. Modified, further away, maybe around half a kilometer or more, and then reshaped where the gold grains are totally bent onto themselves and more rounded, and that’s furthest away from the source and probably up to over a kilometer away from the source. So, the pristine grains that we have, they indicate that those grains are very close to the source of mineralization that they came from.

Maurice Jackson:

Identifying the source, mode of transportation, along with pristine gold is a huge success. Does today’s release bode well on the ideal of having a string of pearls along the Appleton Fault Zone?

Dr. Roger Moss:

Oh, absolutely! To give you an example, and this is where it gets really exciting because we had a till sample that was taken right next to Big Vein, and it had something like 165 grains of gold in total and something like 80% of them were pristine. That’s great. So, it hadn’t come very far from the source, but we know that Big Vein has visible gold in there. We found a big boulder last year of quartz vein with visible gold in it, so it’s not a big jump to say that, “Well yeah, sure. That till sample came from Big Vein.” It seems to be a reasonable idea, but the results that we announced today, there are two samples, another one with 165 grains of gold, somewhere just over 90% of them pristine, very close to the source and the other one, 311 grains of gold, just over 80% pristine.

Dr. Roger Moss:

311 grains of gold is almost double the number of grains of gold that we found in the sample next to Big Vein and that occurs 700 to 800 meters northeast of Big Vein, so that means that the gold grains in those samples did not come from Big Vein. They came from somewhere much closer to the sample locations, so this goes back to my pearls on a string story, and we’re just adding pearls to the string with these till samples. It’s very exciting. It means that Big Vein is likely not the only occurrence that we’re going to be drilling, and there’s definitely more to be found along this Appleton Fault Zone.

Maurice Jackson:

Speaking of extending the string, Labrador Gold has embarked on a 50,000-meter drill program this spring. What work is currently being conducted on-site, and do you have any updates on when we may expect more assays?

Dr. Roger Moss:

Oh, that’s what everybody asks, of course. You got to ask it at some point and the answer is always the same. The labs are backed up, we’re getting results, but they’re much slower, and it seems like as every week goes by the turnaround time gets longer. One of our guys was at the lab yesterday and he came back, and he said, “Roger, you won’t believe the number of samples that are in that lab waiting to be assayed.” He said, “There are bags and bags and bags, just waiting to be assayed.”

Dr. Roger Moss:

I said, “Man, you should have taken a photograph, and that could be my answer when I get asked that question. ‘Look, folks this is what it’s like, the labs are jampacked”. We are getting results in, we will be putting out more results from the drilling. It’s going well, and yeah, I know patience is not the biggest trait of some investors, but you know what? I think that we’re going to be there. When these results come in, it’s going to be good, and I think we’ve got a long way to go yet, so yeah, I think patience is definitely required here.

Maurice Jackson:

Leaving the Kingsway Gold Project, let’s get into some numbers. Sir, please provide the capital structure for Labrador Gold.

Dr. Roger Moss:

Right now, we have around 150 million shares outstanding, and probably another 50 million warrants and options, so just over 200 million are fully diluted. We have 35 million in the bank. We don’t have any debt. So yeah, I think we’re in a pretty good position to keep on with this exploration that we’re doing and to keep going.

Maurice Jackson:

In closing, Dr. Moss, what would you like to convey to shareholders?

Dr. Roger Moss:

Well, earlier in the season when we were drilling, and it can be frustrating sometimes when we’re not hitting as often as we would like or we don’t see the results that we would like, but of course not every hole is going to hit, but I just tell myself, “Don’t stop believing,” and that’s the name of the game here. You have to believe as a geologist in this industry, you got to believe that you’re going to find the deposit that you’re looking for. And I think all indications right now are that we’re on the right track, and it’s a matter of time before we see something significant.

Maurice Jackson:

Dr. Moss for readers that wants to get more information about Labrador Gold, please share the contact details.

Dr. Roger Moss:

Yeah, you can email info@labradorgold.com, www.labradorgold.com is our web address. And I would recommend people look at our Twitter feed @LabGoldCorp. We post a lot of information on Twitter. YouTube is another channel, our YouTube channel, lots of videos there, so there’s a lot of information out there besides what’s on the website, but yeah, Twitter and YouTube both are channels that we use fairly extensively.

Maurice Jackson:

Dr. Moss, it’s been a pleasure speaking with you. Wishing you and Labrador Gold the absolute best, sir.

And as a reminder, I am a licensed representative to buy and sell precious metals through Miles Franklin Precious Metals Investments, where we have several options to expand your precious metals portfolio, from physical delivery of gold, silver, platinum, palladium, and rhodium, to offshore depositories, and precious metals IRA’s. Give me a call at 855.505.1900 or you may email: Maurice@MilesFranklin.com.  Finally, please subscribe to www.provenandprobable.com, where we provide: Mining Insights and Bullion Sales, subscription is free.

Categories
Junior Mining

NV Gold Reviews Upcoming Programs and Reports Board Change

August 6, 2021

VANCOUVER, BC / ACCESSWIRE / August 6, 2021 / NV Gold Corp. (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) announced today that Dr. Quinton Hennigh is retiring as a director of the Company. Dr. Hennigh has generously served as an NV Gold board member since its inception in 2009. Dr. Hennigh is resigning from all of his numerous board positions to fully focus on his new position with CRESCAT Capital. He will, however continue as a Board Advisor to the NV Gold. “The management and fellow directors of NVX join me in wishing Quinton well in his new position and sincerely thank him for his extensive contributions to our Company,” says John Watson, Chairman and CEO.

Mr. Watson also reported that work is moving forward on several of its Nevada projects in preparation for multiple drilling programs over the next 6 months. Notices of Intent are being submitted for drilling programs on the Slumber, Discovery Bay and Pickhandle projects. While drilling equipment remains difficult to procure, the Company expects to be able to begin its drilling campaigns in late September or early October. Equipment and drilling personnel remain in short supply, making exact timing uncertain.

NVX’s singular focus is exploration in Nevada, USA, one of the most prolific gold producing regions in the world. The Company has over 20 property holdings in this highly-competitive region, several of which are advanced and are drill ready. The next year promises to be very exciting, with news and progress on several projects.

About NV Gold Corp.

NV Gold is a well-financed exploration company with a strong treasury and no debt. The company is based in Vancouver, B.C., and is focused on delivering value through mineral discoveries in Nevada, United States, leveraging its highly experienced in-house technical team and strong property position. 2021 and 2022 promise to be NV Gold’s busiest exploration years to date.

On behalf of the Board of Directors,

John E. Watson
President & CEO

For further information, visit the Company’s website at www.nvgoldcorp.com or contact:

John E. Watson, President & CEO
Phone: 1-888-363-9883 
Email: peter@nvgoldcorp.com

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

Forward Looking Statements

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company’s planned exploration activities, the potential for a discovery at its properties, and acquisition of new gold projects are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals, the extent to which mineralized structures extend on to the Company’s Projects and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.

Categories
Base Metals Breaking Energy Precious Metals

Millrock Provides Exploration Update For Alaska Gold Projects

August 5, 20212021

Highlights

Resolution Minerals Partnership – 64North Gold Project.

  • Resolution Minerals reported that it had received assay results from a recently completed, shallow, reverse circulation drilling program conducted at prospects within the East Pogo block of the 64North Gold Project near Pogo Mine.
  • No significant gold intersections were realized, but Resolution Minerals reports strong gold pathfinder element signatures in a target area measuring 1,600 meters by 2000 meters.
  • Resolution states that pathfinder results from drill hole 21EP008 indicate potential for gold at depth and that a follow-up deeper drilling program is warranted.

Felix Gold Partnership

  • Major soil sampling program continues: 2,000 samples collected to date.
  • Drill plans are being formulated.


VANCOUVER, BRITISH COLUMBIA, August 5, 2021 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) is pleased to provide an update on its exploration activities at its Goodpaster and Fairbanks gold district projects (Figure 1). 

Figure 1. Millrock gold project locations within the Tintina Gold Province, Alaska.
Figure 1. Millrock gold project locations within the Tintina Gold Province, Alaska.

Goodpaster District Projects

Millrock owns a 70% interest in a very large claim block surrounding the Pogo Mine in Alaska. Pogo is a high-grade gold mine operated by Northern Star Resources Ltd. The 64North claims, which are subdivided into eight different blocks, are the subject of an option agreement with Resolution Minerals Ltd (ASX: RML, “Resolution”). Recently, a 30% interest was earned by Resolution by virtue of exploration expenditures plus cash and share payments made to Millrock in the first year of the project.

 

64North Gold Project – East Pogo block: Millrock partner Resolution has recently completed a drilling program at gold prospects located on the East Pogo block (Figure 2). A reverse circulation drill was used to test shallow, gently-dipping conductive zones detected in 2020 by ZTEM and CSAMT geophysical surveys. A total of 1,663 meters was drilled over 12 holes. Gently-dipping altered, graphitic zones with quartz and sulfides were reported in several holes. Assay results indicate only anomalous gold values. However, gold pathfinder elements detected indicate possible proximity to a gold-bearing vein system. At the nearby Pogo Mine, rocks close to the gold-bearing veins are enriched in the pathfinder elements bismuth, tellurium, sulfur, and arsenic. From the recent drilling at East Pogo, Resolution has identified a target area measuring 1,600 meters by 2,000 meters for follow-up, with a CSAMT conductive zone beneath. Drill hole 21EP008 intersected sericite and biotite alteration including minor quartz veining with strongly elevated geochemical pathfinder elements. The hole had a trend of increasing gold and alteration intensity over the last 50 meters drilled with sericite alteration present in the last few meters. This signifies potential for gold mineralization at greater depth, perhaps at the level of the CSAMT conductor. The hole unfortunately had to be terminated prior to reaching target depth. Resolution indicates it is considering drilling deeper with a core rig to test the CSAMT target below the geochemical anomaly detected through the shallow reverse circulation drilling program (Figure 3).

Figure 2. Reverse circulation drill rig in operation on the East Pogo block, 64North Gold Project,
Figure 2. Reverse circulation drill rig in operation on the East Pogo block, 64North Gold Project,
Figure 3. CSAMT Line 2 Cross Section on the East Pogo block, 64North Gold Project, Goodpaster District, Alaska.
Figure 3. CSAMT Line 2 Cross Section on the East Pogo block, 64North Gold Project, Goodpaster District, Alaska.

Fairbanks Gold District Projects

Millrock is in a strategic alliance agreement with Felix Gold Ltd. (“Felix Gold”), a private Australian company that intends to become a public company listed on the Australia Stock Exchange (“ASX”). Millrock is assigning its existing mineral rights in return for Felix Gold shares and royalty interests. Felix Gold is funding exploration work and paying the costs of acquiring claims by staking and by agreements with claim holders. All new properties within the strategic alliance Area of Interest become subject to royalties in favor of Millrock (Figure 4).

Figure 4. Blue shading indicates Millrock / Felix Gold mineral land holdings in the Fairbanks Gold District, Alaska.
Figure 4. Blue shading indicates Millrock / Felix Gold mineral land holdings in the Fairbanks Gold District, Alaska.

A major soil sampling program is well underway. To date, 2,000 soil samples have been collected across the claim holdings. The planned work will be completed at the end of August. Samples are being collected using a small auger Figure 5). The goal is to get uniform, modern soil sample coverage across the claims. Once the soil data is merged with all historic data which has been compiled in a database, drill targeting will be done.

Figure 5. Soil sampling team in action, Fairbanks Gold District, Alaska.
Figure 5. Soil sampling team in action, Fairbanks Gold District, Alaska.

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed, and approved by Gregory A. Beischer, President, CEO, and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages, and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, is a significant shareholder of junior explorer ArcWest Exploration Inc. and owns a large shareholding in Resolution Minerals Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet and, Altius as well as junior explorers Resolution, Riverside, PolarX, and Felix Gold.

ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn

Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention to mount further exploration including drilling in 2021. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.

Categories
Junior Mining

Labrador Gold Announces Till Results Including 311 Mostly Pristine Gold Grains

TORONTO, Aug. 05, 2021 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V: LAB | OTCQX: NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce the results of a till sampling program recently completed along the Appleton Fault Zone on its 100% controlled Kingsway project Newfoundland. The Kingsway project is located within the highly prospective Gander Gold District.

Highlights from the sampling program include:

  • Results of 59 till samples taken over the southern Kingsway property show contained gold grains ranging from 0 to 311 grains. Twelve of the 59 samples contain more than 50 gold grains, of which four contain more than 100 grains.
  • A sample containing 165 gold grains, of which 153 (93%) are pristine, occurs just down ice of Big Vein which is the likely source of the grains in this till sample.
  • Two samples containing 165 (96% pristine) and 311 (83% pristine) gold grains occur approximately 700 metres northeast (down ice) of Big Vein. The large number of pristine grains in these samples indicates a short transport distance suggesting a source other than Big Vein closer to the sample locations.
  • Similarly, a sample containing 101 gold grains, 28 of which are pristine, occurs a further 2.3km to the northeast, again suggesting a separate source.

The results from these till samples, together with anomalous soil geochemistry from the 2020 sampling survey, demonstrate the potential for the discovery of further gold mineralization along the Appleton Fault Zone.

“We are very excited by the possibility of additional gold occurrences to the northeast of Big Vein along the Appleton Fault Zone demonstrated by these sample results,” said Roger Moss, President and CEO of Labrador Gold. “While our primary focus remains to drill the Big Vein target and find more high-grade gold mineralization, our field crews will follow up these till results in the coming weeks to generate targets for drilling later this year.”

Figure 1. Results of till sampling along the Appleton Fault Zone (AFZ).
https://www.globenewswire.com/NewsRoom/AttachmentNg/8de89de5-83a2-4239-9763-4de2d9e99d7f

Labrador Gold Webinar

The Company is pleased to announce that President and CEO Roger Moss will be presenting an update from the Kingsway project in a live webinar taking place on Thursday, August 12th, 2021, at 1 p.m. PT / 4 p.m. ET. The webinar will be hosted by Focus Communications Investor Relations (“FCIR”) and Cory Fleck of the Korelin Economics Report. Participants are encouraged to submit any questions for the company prior to the event by emailing FCIR at info@fcir.ca .

EVENT DETAILS
Date: Thursday, August 12th
Time: 1pm PT / 4pm ET
Registration: https://event.webinarjam.com/channel/LAB

QA/QC

Till samples comprised of 10kg of material were collected, placed in plastic bags and sealed with single use ties. Samples were shipped by transport truck in plastic totes to Overburden Drilling Management (ODM) of Nepean, Ontario for processing. ODM uses custom gravity concentration including shaking tables and micro-panning of the resulting heavy mineral concentrates to recover gold grains from the samples. Any gold grains present are extracted for microscopic study to determine the morphology and dimensions of the grains.

Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.

The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.

About Labrador Gold

Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.

In early March 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The property is along strike to the northeast of New Found Gold’s discovery of 92.86 g/t Au over 19.0 metres on their Queensway property. (Note that mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property). In early July 2020, the Company signed an option agreement to acquire a third license to add to the property package which now covers approximately 77 km 2 . Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity, and abundant local water.

The Hopedale gold property covers much of the Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Initial work by Labrador Gold has identified a 3 kilometre mineralized section of the northern portion of the belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold.

The Ashuanipi gold project is located just 35 km from the historical iron ore mining community of Schefferville, which is linked by rail to the port of Sept Iles, Quebec in the south. The claim blocks cover large lake sediment gold anomalies that, with the exception of local prospecting, have not seen a systematic modern day exploration program. Results of the exploration to date show gold anomalies in soils and lake sediments over a 15 kilometre long by 2 to 6 kilometre wide north-south trend and over a 14 kilometre long by 2 to 4 kilometre wide east-west trend.

The Company has 150,577,206 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.

For more information please contact:

Roger Moss, President and CEO      Tel: 416-704-8291

Or visit our website at: www.labradorgold.com

Twitter: @LabGoldCorp

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

Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Categories
Energy Junior Mining Oil & Gas

Jericho Energy Ventures Subsidiary Hydrogen Technologies Files Provisional Patents for its Generation 2.0 cleanH2steam DCC(TM) Boiler

NEWTOWN, PA and VANCOUVER, BC / ACCESSWIRE / August 4, 2021 /Jericho Energy Ventures (TSXV:JEV)(FRA:JLM0)(OTC PINK:JROOF) (“Jericho” or “JEV” or the “Company”) is pleased to announce its wholly owned subsidiary, Hydrogen Technologies (“HT”), has filed for a series of new provisional patents associated with the advancements of its second generation hydrogen boiler with the US Patent and Trademark Office.

On May 26, 2021, JEV announced the launch of HT’s newest Generation 2.0 cleanH2steam Dynamic Combustion Chamber™ (DCC™) Boiler 3000 Series design. The second generation DCC™ Boiler has an improved and streamlined fuel delivery system featuring high precision mass flow meters, increased process monitoring and remote management options. Improvements were also made to the ignitor design providing optimum combustion resulting in higher thermal efficiencies.

The enhanced engineering design was also accompanied by an active procurement strategy which led to metallurgy changes that address the current high cost and long lead time of stainless steel in global supply chains.

There is no pathway to Net Zero targets without a robust, efficient, zero-emission boiler. Currently, 37 percent of the fossil fuels burned by US industry alone is to produce steam. HT’s DCC™ is the only zero-emissions, closed-loop hydrogen boiler, which produces clean process steam without generating any air pollutants or emissions. The DCC™ system is designed to replace existing boilers that burn coal, natural gas, diesel, or fuel oil, which are estimated to account for over 20 percent of all global greenhouse gasses emitted each year.

“Our Hydrogen Technologies team has made significant advances with the DCC™ boiler, leveraging Jericho’s financial and strategic capabilities to drive innovation,” said CEO Brian Williamson. “The DCC™, designed without a smokestack for energy dissipating heat and gasses, is the only hydrogen-based boiler with ZERO greenhouse gas emissions. Our disruptive technology enables meaningful GHG emissions reduction for large users of heat and steam. With the filing of our recent patent application, we are preparing a broader marketing campaign targeting users with large thermal loads worldwide.”

About Jericho Energy Venture

Jericho Energy Ventures (JEV) is focused on advancing the low-carbon energy transition with investments in hydrogen technologies, energy storage, carbon capture and new energy systems. JEV’s wholly owned subsidiary, Hydrogen Technologies, delivers patented, zero-emission boiler technology to the $30 Billion Commercial & Industrial heat and steam industry in addition to its investment in H2U‘s electrocatalyst and low-cost electrolyser platform. JEV also owns and operates producing oil and gas assets in the US Mid-Continent, predominantly in Oklahoma.

Website: https://jerichoenergyventures.com/
Twitter: https://twitter.com/JerichoEV
LinkedIn: https://www.linkedin.com/company/jericho-energy-ventures
YouTube: https://www.youtube.com/c/JerichoEnergyVentures

CONTACT:
Adam Rabiner
Director of IR
Jericho Energy Ventures
604.343.4534
adam@jerichoenergyventures.com

This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. Although Jericho believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Forward-looking information and statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information and statements which include, but are not limited to: the effects of and risks associated with the ongoing COVID-19 pandemic, the impact of general economic conditions, industry conditions and current and future commodity prices including sustained low oil prices, significant and ongoing stock market volatility, currency and interest rates, governmental regulation of the oil and gas industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities inherent in oil and gas exploration, development and production operations; and the other factors described in our public filings available at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.The forward-looking information and forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

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

SOURCE: Jericho Energy Ventures Inc.

Categories
Base Metals Breaking Emx Royalty Project Generators

EMX Royalty Files Amended and Restated Timok Project Technical Report on SEDAR

Vancouver, British Columbia–(Newsfile Corp. – August 3, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the filing on SEDAR of an amended and restated Timok Project Technical Report entitled: “NI 43-101 Technical Report – Timok Copper-Gold Project Royalty, Serbia” dated July 21, 2021 and with an effective date of December 31, 2020 prepared by Mineral Resource Management LLC (“MRM”). The amended and restated Technical Report can be found under the Company’s profile at www.sedar.com. EMX holds an uncapped 0.5% net smelter return (“NSR”) royalty on Timok’s Brestovać license, which covers the Čukaru Peki copper-gold development project. The Timok Project is controlled and being developed by Zijin Mining Group Co., Ltd (“Zijin”).

The amended and restated Timok Technical Report: a) restates the Timok Project resources and reserves for the Upper Zone and the resources for the Lower Zone as adopted from public disclosures by Zijin, which is the current owner and operator of the Timok Project. Zijin’s Timok Project resources and reserves, disclosed in its 2020 Annual Report, have been conformed to the requirements of NI 43-101 and are materially identical to those of the previous operator Nevsun, which were referenced in the original Report; and b) removes the discussion of EMX’s Brestovać West and Durlan Potok royalty properties from the section of the original Report entitled “Adjacent Properties” to comply with the requirements of NI 43-101. The discussion of these two royalty properties has been moved to the “Property Description and Location” section of this amended and restated Technical Report to accompany the discussion of the Brestovać royalty property.

Zijin is on a fast-track schedule for Timok’s Čukaru Peki high sulfidation epithermal copper-gold development project. Recently, Zijin stated in a news release dated June 16, 2021, that it “recently obtained the trial production permit for the processing facilities issued by the Serbian Ministry of Mining and Energy, and have entered the trial production stage. At present, the construction of the processing facilities of the project has been completed, and trial production and operation, construction conclusion and greening, etc. are being conducted at full speed. It is planned that all work of the trial production stage shall be completed for submission to the Ministry of Mining for acceptance check before September of this year. This will achieve a smooth transition from mine infrastructure construction to production and operation“. In addition to the Upper Zone, Čukaru Peki also hosts the underlying Lower Zone porphyry copper-gold resource project, which provides substantial exploration upside to EMX’s Brestovać royalty asset.

The start of trial production and the imminent commencement of commercial production this year at the Upper Zone represents an important milestone for EMX which purchased its key 0.5% NSR royalty on the Timok Project in 2013, shortly after the discovery of the Čukaru Peki copper-gold deposit (see EMX News Release dated February 4, 2014). This acquisition serves as an example of how EMX leveraged its in-country expertise through early recognition of the potential value of the Čukaru Peki discovery, but also through the understanding of where key royalty interests were held by third parties that were available for acquisition.

EMX congratulates Zijin on its ongoing progress in developing the Timok Project, and looks forward to new advancements as the work programs progress.

Dr. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

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

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
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”, “upside” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended March 31, 2021 (the “MD&A”), and the most recently filed Annual Information Form (the “AIF”) for the year ended December 31, 2020, 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.

Categories
Junior Mining Precious Metals

Irving Resources Announces Plans to Drill Omui Mine Site and Hokuryu in Q3-Q4, 2021 – Provides Update on Q1-Q2, 2021 Omu Sinter Drilling

Irving Resources Inc.Tue, August 3, 2021, 9:00 AM

Figure 1

Plan map of drill hole locations in the southern part of Omu Sinter and a cross section illustrating mineralization encountered in the southern part of the Omu Sinter project area. Note that low-grade mineralization extends from surface to a vertical depth of approximately 180 m. Short intervals of higher grade mineralization are present. Irving suspects a higher grade feeder structure is nearby
Plan map of drill hole locations in the southern part of Omu Sinter and a cross section illustrating mineralization encountered in the southern part of the Omu Sinter project area. Note that low-grade mineralization extends from surface to a vertical depth of approximately 180 m. Short intervals of higher grade mineralization are present. Irving suspects a higher grade feeder structure is nearby
Plan map of drill hole locations in the southern part of Omu Sinter and a cross section illustrating mineralization encountered in the southern part of the Omu Sinter project area. Note that low-grade mineralization extends from surface to a vertical depth of approximately 180 m. Short intervals of higher grade mineralization are present. Irving suspects a higher grade feeder structure is nearby

VANCOUVER, British Columbia, Aug. 03, 2021 (GLOBE NEWSWIRE) — Irving Resources Inc. (CSE:IRV; OTCQX: IRVRF) (“Irving” or the “Company”) is pleased to announce plans for drilling at Omui Mine Site and Hokuryu in Q3-Q4, 2021 and provide a summary of results from its Q1-Q2, 2021 diamond drill program at Omu Sinter. All three of these targets are part of Irving’s 100% controlled Omu Au-Ag Vein Project, Hokkaido, Japan. An initial drill permit allowing Irving to drill at Hokuryu (officially registered as Shin-Hokuryu, known as New-Hokuryu) has recently been received from the Ministry of Economy, Trade and Industry (METI), Hokkaido Bureau.
https://s.yimg.com/rq/darla/4-8-0/html/r-sf-flx.html

Q3-Q4 Omui Mine Site and Hokuryu Diamond Drill Campaign

Irving plans to undertake diamond drilling at Omui Mine Site and Hokuryu during Q3-Q4, 2021. At Omui Mine Site, Rodren Drilling of Canada will drill a series of holes to follow up previous high-grade vein intercepts at the Honpi and Nanko targets. At Hokuryu, the maiden drill program will be undertaken using a Japanese-based drill contracted from Sumiko Resources Exploration & Development Co., Ltd., a wholly-owned subsidiary of Sumitomo Metal Mining Co., Ltd. Drilling will focus on the following priorities:

Honpi

  • Three holes will target extensions of veins encountered in some of the deeper holes completed over the past two years, particularly hole 19OMI-010 which encountered such notable intercepts including 3.00 m grading 27.0 gpt Au and 40.5 gpt Ag, 1.10 m grading 29.6 gpt Au and 36.5 gpt Ag, 3.77 m grading 12.3 gpt Au and 84.5 gpt Ag, and 1.20 m grading 7.8 gpt Au and 887.5 gpt Ag. The three planned holes will be positioned to test areas both east and west of hole 19OMI-010. (Please refer to the Company’s news releases dated December 17, 2019 and February 7, 2020)
  • One hole will test areas north of the historic Honpi vein where shallow holes completed in 2019 encountered high-grade veins. Intercepts include 1.00 m grading 19.25 gpt Au and 27.50 gpt Ag in hole 19OMI-001 and 1.80 m grading 6.05 gpt Au and 808.18 gpt Ag in hole 19OMI-002. The planned hole is expected to hit extensions of these veins. (Please refer to the Company’s news release dated December 17, 2019)

Nanko

  • One hole with test for deeper extensions of veins encountered in holes 20OMI-003, 20OMI-004 and 20OMI-005 last year. Most notably, hole 20OMI-003 encountered two veins, one grading 8.15 gpt Au and 147.29 gpt Ag over 1.76 m within a broader intercept of 3.55 gpt Au and 69.24 gpt Ag over 14.24 m and a second vein grading 21.65 gpt Au and 538.75 gpt Ag over 1.72 m including 56.10 gpt Au and 1,435.00 gpt Ag over 0.60 m. The planned hole will be drilled generally from north to south. (Please refer to the Company’s news release dated November 13, 2020)
  • A second hole will test an area northeast of holes 20OMI-006, 20OMI-007 and 20OMI-008 with vein intercepts of 2.39 m grading 5.22 gpt Au and 103.6 gpt Ag, 2.99 m grading 4.34 gpt Au and 26.8 gpt Ag and 2.00 m grading 3.98 gpt Au and 26.1 gpt Ag, respectively. The planned hole is designed to hit extensions of these veins. (Please refer to the Company’s news release dated February 9, 2021)

Hokuryu

  • Up to four holes are designed as a maiden drill test of the Hokuryu vein system. Mining was undertaken at Hokuryu for a few short years until it abruptly ceased in 1943. Irving’s recent controlled source audio-magnetotellurics (“CSAMT”) geophysical program has identified a large corridor of resistive, presumably silicified, rock extending well beyond the historic mine area. These initial holes will test select areas along this corridor for vein extensions and new veins.
  • Given the higher altitude at Hokuryu, completion of this program is dependant on weather. If holes remain uncompleted in 2021, Irving plans to complete this program as soon as possible in the spring of 2022.

Summary of Omu Sinter Drill Results

Earlier this year, Irving completed a series of four diamond drill holes at the Omu Sinter target. Holes 21OMS-002 and 21OMS-004 tested an area underlain by a broad expanse of silica sinter terrace in the southern part of this project area. Both holes encountered multiple long intervals of low grade gold and silver mineralization in bedded silica sinter and highly silicified, often hydrothermally brecciated, rocks beneath (see table below). Short intervals of higher grade mineralization were intersected. Remarkably, mineralized rock extends from surface to a vertical depth of approximtely 180 m (Figure 1). Although a high-grade feeder was not encountered, Irving believes potential for such a structure is good given the remarkable strength of this system and the presence of short, higher grade intervals in these holes. Irving plans to review this data and acquire additional structural data in an effort to identify a potential feeder structure prior to future drilling.

Summary of Results from Holes 21OMS-002 and 21OMS-004 at Omu Sinter

HoleFrom (m)To (m)Length (m)Gold (gpt)Silver (gpt)Gold eq (gpt)Silver eq (gpt)
21OMS-00215.1123.808.690.236.330.3222.9
31.5037.806.300.468.490.5841.6
48.5053.134.630.255.430.3323.4
61.47165.60104.130.2315.130.4431.7
including61.4761.790.323.1360.003.96285.4
and90.0092.502.501.4528.221.84132.6
and110.00113.403.400.2662.931.1381.7
181.50224.0042.500.1811.330.3424.3
21OMS-0044.9070.6065.700.750.480.7654.5
including13.9048.9035.000.5828.140.9769.9
including28.2331.112.881.0072.292.00144.3
102.35133.7831.430.245.980.3223.3
141.44145.614.170.278.370.3927.8
246.05249.903.850.998.851.1180.1
including246.27247.301.032.2718.192.52181.6
321.00322.001.000.2466.701.1784.0
Au eq (gpt) = Au (gpt) + Ag (gpt)/72

Holes 21OMS-001 and 21OMS-003 tested CSAMT anomalies to the west and east of the main Omu Sinter trend, respectively. Although each hole encountered hydrothermally altered volcanic rocks, only anomalous Au and Ag values were encoutered. Therefore, Irving believes all mineralization at Omu Sinter occurs within the 1.2 km long north-south corridor now tested by multiple holes.

“Irving has an aggressive drill program planned beginning approximately September 1, 2021″ commented Dr. Quinton Hennigh, director and technical advisor to Irving. “Two drills will be operating, one conducting follow up drilling of high-grade veins at Omui and a second undertaking maiden drilling at Hokuryu, a very large untested high-grade vein target. We are very eager to get back to work. At Omu Sinter, we have identified a remarkably large volume of mineralized bedded sinter and underlying intensely silicified and brecciated rock in the southern part of this project area. Although low grade, the strength and volume of rock that has been affected suggests a feeder structure is nearby. It may be in an orientation we simply have not explored. We plan to review this data and collect new field data to see if we can better define such a feeder structure prior to future drilling.”

All samples discussed in this news release are ½ split sawn diamond core samples. Irving submitted rock samples to ALS Global, Vancouver, Canada, for analysis. Au and Ag were analyzed by fire assay with AA finish. Overlimit samples were assayed by fire assay with gravimetric finish. Multielements were analyzed by mass spectrometry following four acid digestion. Irving staff are responsible for geologic logging and sampling of core. Au equivalent is calculated by adding Au (gpt) to Ag (gpt)/72.

Quinton Hennigh (Ph.D., P.Geo.) is the qualified person pursuant to National Instrument 43-101 responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is a technical advisor and director of Irving Resources Inc.

About Irving Resources Inc.:

Irving is a junior exploration company with a focus on gold in Japan. Irving also holds, through a subsidiary, a Joint Exploration Agreement with Japan Oil, Gas and Metals National Corporation (JOGMEC). JOGMEC is a government organization established under the law of Japan, administrated by the Ministry of Economy, Trade and Industry of Japan, and is responsible for stable supply of various resources to Japan through the discovery of sizable economic deposits of base, precious and rare metals.

Additional information can be found on the Company’s website: www.IRVresources.com.

Akiko Levinson,
President, CEO & Director

Forward-looking information
Some statements in this news release may contain forward-looking information within the meaning of Canadian securities legislation including, without limitation, statements as to the timing of receipt of the results of drill samples and planned exploration activities. Forward-looking statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the mineral resource exploration industry, the availability to Irving of sufficient cash to fund any planned drilling and other exploration activities, as well as the performance of services by third parties.

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5dc40814-bdca-41d7-bbcb-ad6280a0e2a4

Categories
Base Metals Breaking Emx Royalty Energy Exclusive Interviews Junior Mining Precious Metals

EMX Royalty – Adds 18 New Royalty Properties from SSR Mining

Maurice Jackson:

Joining us for a conversation is David Cole, the CEO of EMX Royalty (NYSE: EMX | TSX.V: EMX), the Royalty Generator.

Maurice Jackson:

Honored to have you with us today sir, as you have some breaking news for shareholders, as EMX Royalty has just consummated a watershed moment with the announcement of the Royalty Portfolio purchase agreement with SSR Mining (Press Release). Mr. Cole, thank you for allowing me to be the first to say congratulations’ sir on a significant milestone on what may be the biggest company event in the history of EMX Royalty.

David Cole:

We are very pleased with this transaction, pleased to have SSR Mining as a shareholder in the company, and it’s been a pleasure to work with them.

Maurice Jackson:

Let’s get right into the press release, the EMX Royalty acquisition consists of 18 geographically diverse royalties with 4 royalty assets at advanced stages of project development. Please provide us with the details of the Royalty Purchase Agreement with SSR Mining.

David Cole:

Well, we’re paying $66 million upfront for this portfolio, $33 million in share capital, and $33 million in cash, which are deferred payments depending upon the performance of the Yenipazar net profit interest royalty in Turkey. Those deferred payments accumulate up to $34 million, but that’s not until that asset cashflows $20 million. We’re pleased with respect to how this is designed. This gives SSR Mining a nice chunk of equity in the EMX which is one of the key things that they were looking for when they chose us to sell the Royalty Portfolio.

Maurice Jackson:

What type of value creation will EMX derive from this transaction and how will it impact the synergies with the existing EMX initiatives around the world?

David Cole:

One of the key things here is immediate large cash flow. The Gediktepe mine which is at the final stages of construction and should be in production within a month or two has a high-grade oxide cap that’s gold enriched with a 10% NSR and we’ll see immediate gold royalty income over double-digit millions of dollars per annum from that royalty right out of the gate. We’re very, very pleased with that so this really propels at the top of our pyramid forward, which is something that we’ve been working on for some time as we’ve discussed previously, with respect to Synergies with our existing portfolio, and one of the reasons why we were able to grab this is because of our relationships in Turkey and our comfort with Lydia as an operator there. And that gave us an edge with respect to working with SSR to accomplish this deal.

Maurice Jackson:

One of the key aspects of this transaction along with all of EMX Royalties is something you’ve covered with us and that is the value proposition of embedded optionality, which is just icing on the cake for each of your royalty properties. Can you please elaborate on the virtues of embedded optionality within royalties?

 David Cole:

It’s one of my favorite topics and it’s the reason why royalties traded such premium valuations is because of all the embedded optionality, commodity price optionality, discovery optionality, engineering advancement optionality, et cetera, et cetera. And mining districts have a history of giving and giving and it’s always to the benefit of the royalty holder and no cost to the royalty holder. So that’s why royalties are so dear and I will point out that royalty companies that have large numbers of royalties trade at a much higher valuation per royalty than royalty companies, so the lower number of royalties, this is a phenomenon that’s existed in the royalty sector now for some time. Where the portfolio effect impacts the overall valuation of that portfolio and that’s because of this multiplicative optionality of the entire portfolio. You never know where the big success is going to come from years out.

David Cole:

As you know our goal here is to continue to grow this portfolio through organic methods which we’re good at and have had a track record for 18 years of doing, but also through acquisition. And we’ve been challenged quite honestly, to accomplish big creative acquisitions because it’s a competitive space. That we’ve been very patient. We stood at the plate and they kept throwing more pitches at us and we found one to hit and hit it out of the park.

Maurice Jackson:

Great way to put it, sir. I referenced a watershed moment. Where does today’s press release rank with the relation to the Malmyzh and/or the Timok?

David Cole:

Well, that’s interesting certainly the value proposition of the Timok acquisition is unbeatable because we paid $200,000 Canadian dollars for a royalty that’s going to pay hundreds of millions. So that one’s astonishing, but that had to do with the fact that we were in that district and understood what was going on there very early in the history of the discovery and were able to acquire that royalty early on thanks to our geologic understanding of the region. That’s a tough one to compare. With respect to the Malmyzh transaction that was a fantastic deal that cashed-up EMX and put us in a position where we could do this deal.

David Cole:

And step-by-step we’re building this company. Very pleased with these transactions. Malmyzh was super accretive for us. As you know, we booked $67 million US dollars out of that deal and have put those monies to excellent work. This being the top example. You and other folks have asked me many, many, many times, “What are you going to do with the money, Dave, what are you going to do with the money”? We just kept looking and turning down opportunities and losing sales processes because our bids weren’t as high as our competitors until the right one came along. And one of the key aspects that made this deal happen, as I mentioned, is the fact that SSR specifically wants to be a shareholder in EMX. And I’ve said before that the right transaction that’ll really advance this company is going to be one where the major companies selling their royalties understand the value proposition that EMX offers and want to be a contributor, want to be a member of the team.

Maurice Jackson:

Speaking of the Timok, which is a company making event in and of itself, what are the latest developments there?

David Cole:

It’s going into production. I do believe that they had a couple of delays. So they were originally talking about an opening ceremony in June. I believe that’s been pushed back to August at this point, maybe September, but that’s still ahead of the original schedule. The Chinese have been very aggressive. It’s advancing into production.

Maurice Jackson:

Leaving the property bank Mr. Cole, please provide us with the capital structure for EMX royalty.

 David Cole:

Well, we’re sitting here today with $84 million shares issued and outstanding and few over $90 million shares fully diluted. That’s not including the shares that we will issue to SSR, which on a pro forma basis will be approximately 12% of the company. So that’ll push us up towards the 95 issued outstanding and over a hundred million fully diluted at the completion of this transaction, which should hopefully occur within four to five weeks in my opinion. Sitting here today with about $30 million US dollars in cash, of course, those monies get paid to SSR as part of this transaction as well.

David Cole:

We have about $20 million in tradable securities and long-term investments in our portfolio as well and no debt at this time. However, we will be taking on a small $10 million debt from Sprott. We appreciate their support as a capital partner for EMX. They’ve helped us out in the past as well. That puts us in a situation where even though we’re putting out USD $33 million to SSR for this transaction, thanks to Sprott we’ll still have a nice cushion here with respect to money in the treasury to continually advance our organic growth, which is our job one, as you know.

Maurice Jackson:

Just for the record, ladies, and gentlemen, I plan to match my bullion purchases with shares and EMX royalty.  I believe the company has the potential to melt-up. And I’m talking about the stock price of course. The stock price, in my opinion, is at a fire sale. And that is Maurice Jackson’s opinion, but not really just my opinion, Mr. Cole, you and I both know some of the most prominent names in the natural resource space. They share the same sentiment about EMX royalty.

David Cole:

Happy to have those guys on as contributors.

Maurice Jackson:

Yes, sir. In closing, what would you like to say to shareholders?

David Cole:

EMX Royalty is in a situation here today where the Bayla royalty of 4% royalty on the lead, zinc, silver mine in Turkey is coming into production. Zijin is advancing the Timok project towards production, of course, Leeville in the background that pays every month. And we have an immense amount of optionality within our pyramid is bubbling up towards the top. And these names I’m throwing out are just examples of that. We’ve talked about the potential for this to become a cash cow over time. We’ve just poured fuel on the fire. We put gasoline on the fire here with this one and the Gediktepe 10% NSR and the oxide gold cap will just propel our gold income in the company here substantially over the next three years. We’re very excited.

Maurice Jackson:

Mr. Cole, for readers that want to get more information about EMX royalty please share the website address.

David Cole:

www.emxroyalty.com -The contact details for myself, Scott Close, and Isabel Belger managing European investor relations, and Scott here in North America are embedded in the website and on the press release feel free to reach out to us.

Maurice Jackson:

Mr. Cole, it’s been a pleasure speaking with you, wishing you and EMX royalty the absolute best, sir.

 David Cole:

Thank you, Maurice. Always appreciate your support.

Maurice Jackson:

And as a reminder, I am a licensed representative to buy and sell precious metals through Miles Franklin Precious Metals Investments, where we have several options to expand your precious metals portfolio, from physical delivery of gold, silver, platinum, palladium, and rhodium, to offshore depositories, and precious metals IRA’s. Give me a call at 855.505.1900 or you may email: Maurice@MilesFranklin.com.  Finally, please subscribe to www.provenandprobable.com, where we provide: Mining Insights and Bullion Sales, subscription is free.