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Base Metals Energy Junior Mining Precious Metals Silver Hammer

Silver Hammer Significantly Expands Mineralized Footprint with Four Primary Target Areas Identified Through Soil Sampling at the Eliza Project in Nevada

Silver Hammer Mining Corp
Silver Hammer Mining Corp

Figure 1

Eliza Project North Area Soil Grid
Eliza Project North Area Soil Grid

Figure 2

Eliza Project North Area Soil Grid
Eliza Project North Area Soil Grid

VANCOUVER, British Columbia, Oct. 25, 2022 (GLOBE NEWSWIRE) — Silver Hammer Mining Corp. (CSE: HAMR; OTCQB: HAMRF) (the “Company” or “Silver Hammer”) is pleased to report that soil sampling results at the Eliza Project (“Eliza” or the “Project”) have defined significant anomalies that extend well beyond the small historical mine areas.

A total of 518 soil samples were collected from the northern area of Eliza with results ranging from below detection limit to 26.95 grams per tonne (“g/t”) silver (“Ag”). Thirty-nine samples returned grades higher than 1 g/t silver. Results with over 0.5 g/t Ag are highly anomalous and can be considered a tracer of potential larger systems. The purpose of the soil sampling program was to further define the extent of mineralization within the northern area and examine any geochemical patterns that may exist. The soil sampling program has outlined four distinct target areas, which are now being further evaluated. The historic mining areas include the California, Passynak and Belmont mines; a new fourth area, the Western Anomaly will be added to our focus going forward.

President and CEO, Morgan Lekstrom commented: “Our thesis has always been that a methodical and modern exploration approach in districts with small-scale, high-grade historical production can lead to the discovery of much larger mineralized systems. Soil sampling does not typically return silver results greater than 1 g/t, so we are very encouraged not only by the widespread nature of mineralization, but by the highly anomalous values from this program.” Lekstrom added, “This type of low-cost, high-impact exploration work aligns with our current view towards maintaining a strong treasury during the current market environment and we have initiated preliminary discussions with prospective partners on our Nevada assets as we advance these projects toward a drill-ready stage.”

Soil samples are commonly used as a targeting tool to find major discoveries and these results provide evidence supporting the potential for widespread mineralization well beyond the small historical mines dating back to the1860’s Hamilton Silver Rush.

Eliza North Soil Grid
To date, 518 soil samples have been collected from the Eliza North Grid Area, which includes the Passynak, Belmont and California historical mines. The mines are accessible by road and are situated within 670 m of each other. Each mine has a distinct geochemical anomaly collectively stretching over 700 m.

Passynak
The Passynak area is the strongest multi-element anomaly. Significant soil sample results were found over a broad 200 m diameter area. Twelve soil samples show greater than 1 g/t Ag with anomalous copper, lead, antimony, and zinc. Care and attention were given to eliminate any samples collected from past mine dumps or transported surface debris.

Table 1. Sample Result Highlights from Passynak Anomaly

Sample_IDSilver ICP g/tCopper ICP g/tLead ICP g/tAntimony ICP g/tZinc ICP g/t
PN3533926.9523.4729.8163
PN000047302313.9518.9425.6883
PN353424.8818.3364.6976
PN00004731374.46313.728917.39555
PN00004731253.83301.858138.58398
PN00004730253.6619.5253.0086
PN00004731203.51559.3122327.831316
PN353142.51153.820714.24339
PN353361.2714.0292.2296
PN353331.25204.81309.29395
PN00004731431.22141.91386.49299
PN00004731351.0960.312015.74107

Belmont
The Belmont area is characterized by high silver-in-soil values, plus accessory copper, lead, antimony, and zinc. Further work in this area is required to define the zone and the nature of the mineralization.

Table 2. Sample Result Highlights from Belmont Anomaly

Sample_IDSilver ICP g/tCopper ICP g/tLead ICP g/tAntimony ICP g/tZinc ICP g/t
PN3525816.1821.0667.0789
PN00004732868.0391.617119.15157
PN00004732881.6812.5262.5491
PN352861.0236.2826.02128

California
The California prospect area is as widespread as Passynak and crosses the Eberhardt Fault on both the north and south. The Eberhardt Fault is considered a main structure and integral to the mineralizing system. Antimony remained fairly consistent; however, gold appeared in minor values in surface soil samples.

Table 3. Sample Result Highlights from California Anomaly

Sample_IDSilver ICP g/tCopper ICP g/tLead ICP g/tGold FA ICP ppbZinc ICP g/t
PN3536115.5725.7304887
PN353319.3122.547-380
PN00004732597.6617.8251590
PN353714.0916.826695
PN00004731634.0016.2223698
PN00004731522.4421.917-399
PN00004731662.3524.1191494
PN353302.3215.940595
PN353181.9419.13918131
PN00004731061.8116.118354
PN00004730951.6617.82417112
PN00004732601.6318.424499
PN353441.5116.723-368
PN353701.4815.6412289
PN353571.3816.148391
PN00004731641.2020.515385

New Western Anomaly
Two samples south of the Eberhardt Fault on the west side of the grid reported silver and gold anomalies. This area is on the edge of a wider spaced soil grid, but adjacent to the prospective fault zone and will be investigated further in near future work with prospecting and geochemistry.

Table 4: Sample Result Highlights from New Western Anomaly

Sample_IDWGS EastWGS NorthSilver ICP g/tCopper ICP g/tLead ICP g/tGold FA ICP ppbZinc ICP g/t
PN0000473397630525.143408032.0926.9270.233161
PN35264630304.643409502.7021.9300.29889

Sampling Protocol

Soil samples were collected from the “B Horizon” every 75 metres (“m”) on 75m line spacing and then infilled on a 37.5 m spacing in areas of greater interest. Typical sample depths ranged between 30 and 45 centimetres.

Quality Assurance/Quality Control

Assays were processed by American Assay Laboratories Inc. in Sparks, Nevada. The laboratory has its own QA/QC protocols running standards and blanks with duplicate samples in each batch stream. Silver Hammer geological staff inserted a system of field duplicates, blanks and lab standards into the sample stream every 10 samples to ensure QA/QC of the work. A multi-element assay method was used for silver and all other elements called ICP-5AM48 with an ICP-OES/MS finish and reported in ppm. Gold was assayed by fire assay with an ICP finish and reported down to 3 ppb in method FA-PB30-ICP.

Qualified Person

Technical aspects of this press release have been reviewed and approved by Philip Mulholland, a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists, a contractor of the Company and the designated Qualified Person (QP) under National Instrument 43-101.

About Silver Hammer Mining Corp.

Silver Hammer Mining Corp. is a junior resource company advancing the flagship past-producing Silver Strand Mine in the Coeur d’Alene Mining District in Idaho, USA, as well both the Eliza Silver Project and the Silverton Silver Mine in one of the world’s most prolific mining jurisdictions in Nevada and the Lacy Gold Project in British Columbia, Canada. Silver Hammer’s primary focus is defining and developing silver deposits near past-producing mines that have not been adequately tested. The Company’s portfolio also provides exposure to copper and gold discoveries.

Disclaimer note: Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s projects.

On Behalf of the Board of Silver Hammer Mining Corp.

Morgan Lekstrom, President and CEO
Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada

For investor relations inquiries, contact:

Kristina Pillon, High Tide Consulting Corp.
T: 604.908.1695
E: investors@silverhammermining.com

For media inquiries, contact:

Adam Bello, Primoris Group Inc.
T: 416.489.0092
E: media@primorisgroup.com

The CSE does not accept responsibility for the adequacy or accuracy of this release.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/0ba880c8-b9de-40b1-ad2a-7934b0a9af41
https://www.globenewswire.com/NewsRoom/AttachmentNg/41267fb5-1d14-4878-a405-0c537136998f
Categories
Energy Precious Metals Uncategorized

Silver47 Exploration Drills 7.68m of 1577 g/t Ag within 15m of 907 g/t Ag

October 24, 2022

Silver47 Exploration Corp. (Vancouver) (the “Company”) is pleased to report that it has completed 5 shallow diamond drill core holes at the Silver Matt Discovery on its wholly owned Michelle Project located in north-central Yukon, Canada. All 5 holes intersected oxide-sulphide mineralization. Mineralization was first discovered in the Silver Matt area in 2009 by prospecting, where a grab sample returned 4180 g/t Ag and where a 2015 hand trench yielded 2.8m of 894 g/t Ag, 46.9% Pb and 8.09% Zn. The initial drill discovery at the Silver Matt Target was made in 2021 through RC drilling in hole MCH-21-005 as highlighted below.

Highlights

· Discovery RC hole MCH-21-005 graded 19.8m of 556 g/t Ag, 20.3% Pb, 3.16% Zn, including 7.6m of 824ppm Ag, 28.7% Pb, 1.54% Zn.

· Discovery confirmation core hole MCH-22-002 yielded 15m of 907 g/t Ag, 26% Pb, 2.7% Zn including 7.7m of 1577 g/t Ag, 45% Pb, 4% Zn.

Drilling

Holes MCH-22-001 to MCH-22-003 were completed from the same collar as the 2021 RC holes to test potential down-dip and strike extension from the discovery hole MCH21-005. Holes MCH22-004 and MCH22-005 were collared 50m northwest to test strike extension (results pending).

Hosted in Bouvette Formation limestone and dolostone, mineralization occurs primarily as strongly oxidized material with remnant intervals of massive sulphide, primarily galena. The high-grade intervals are typically surrounded by a gradational alteration halo into fresh carbonates. Karst voids above and within the mineralized zones were noted. Mineralization appears to have a shallow northeast dip to flat-lying with a NW/SE strike orientation observed across the 5 holes drilled in 2022, please see Figure 2 below

Table 1. Drill Highlights from 2022, holes MCH-22-001 to MCH-22-003, Michelle Project.

Assay intervals are unweighted averages and true widths cannot be determined at this time.

Figure 1. General Location Map for the Michelle Project.

MCH-21-005 

Initial drilling at the Silver Matt Zone was completed using a Reverse Circulation drilling in late summer of 2021.  Oriented to drill under the 2015 trench, hole MCH-21-005 intersected a broad zone of oxide mineralization over 19.8m of 556 g/t Ag, 20.3% Pb, 3.16% Zn, including 7.6m of 824ppm Ag, 28.7% Pb, 1.54% Zn 

MCH-21-006 

The second hole drilled at Silver Matt in 2021 was drilled vertically from the same collar and intersected 3.04m of oxide mineralization grading 42.25 g/t Ag, 2.4% Pb, and 2.8% Zn at 13.72m depth. 

MCH-22-001 

The objective of MCH-22-001 was to undercut the RC discovery hole MCH-21-005. MCH-22-001 intercepted high-grade mineralization at a shallower depth than expected, indicating a flat to shallow-dipping lens.  An intensely oxidized interval of 4.40m from 21.65m to 26.05m contained up to 2% blebby galena with fine white crystalline precipitate zinc and lead oxides.   

MCH22-002 was drilled to twin MCH-21-005 to obtain structural data and better-define the mineralized zone, as hole 22-001 produced unexpected results.  The higher resolution data provided by core drilling the RC intercept allowed for readjustment of the following drill hole orientations.  MCH-22-002 resulted in similar mineralized widths, but with significantly higher-grade silver, lead and zinc.  This can be attributed to the better recovery percentage of core drilling compared to RC drilling, as well as more control on sampling intervals in the logging process. Up to 7% metallic sulphides, with lead-zinc precipitates were observed through the 7.68m interval. 

Figure 2. Cross Section of the Silver Matt Zone, Michelle Project. 

Figure 3. Galena mineralization with pervasive oxidation at 39m in MCH-22-002.  

Figure 4. Galena mineralization with pervasive oxidation at 41m in hole MCH-22-002.

MCH-22-003 

MCH-22-003 was oriented to test the NW/SE proposed strike trend, and intersected 9.4m of high-grade mineralization including 1.05m of 1395 g/t Ag, 51.47% Pb (final values pending), 12.25% Zn at 30m – 31.05m.  Hole 3 confirmed the strike orientation and shallow-dip of the mineralized lens. 

Table 2.  2021 RC and 2022 DDH collar table. 

Easting and northing in meters, NAD 1983 Zone 8. 

Geochemical Sampling  

Concurrent to drilling operations, a property-wide surface sample and trenching program was carried out on high-priority targets.  A total of 754 soil samples and 92 rock samples (including trenches) were collected.  All trenches were hand-dug and reclaimed prior to the end of the program.  Notably, a trench dug approximately 500m NW of the Silver Matt drill holes reported two 2-meter contiguous samples grading 423 g/t Ag and 247 g/t Ag, with +10% Pb, indicating a significant potential strike extension of the mineralized trend. 

Silver Matt Target 

Trench TR22-01 was dug approximately 500m northwest, and on strike, to the Silver Matt showing produced two 2m composite samples of 423 g/t Ag, 11.9% Pb, 1.6% Zn; and 247 g/t Ag, 14.5% Pb and 0.76% Zn from 2.3m-4.3m and 4.3m-6.4m, respectively.  A rock grab sample taken 50m north of this trench graded 226 g/t Ag, 15.8% Pb, 2.1% Zn.  Additional samples indicated anomalous zinc concentrations northeast and east of the known mineralization. 

Heeler Target  

Located 10km east of the Silver Matt Zone, 5 trenches were completed at the Heeler showing, following up a 2015 high-grade sample.  Trench TR22-03 contained two samples (1m-1.6m, and 2.85-2.95) with 14.5 g/t Ag, 2.1% Pb, 1.5% Zn; and 22.9 g/t Ag, 1.5% Pb, 1.6% Zn.  Both samples also contained anomalous values of critical minerals returning 303ppm chromium, 3400ppm copper, 208ppm gallium, 1940ppm nickel, 936ppm antimony and 4980ppm vanadium. 

Two anomalous zinc samples were taken while prospecting east of the Heeler Target.  Sample E814060 graded 2.18% Zn and sample E814531 graded 3.6% Zn, 0.6% Pb, and 5.76 g/t Ag. 

Soil/talus-fines sampling in the Heeler area was inconclusive with several point anomalies for silver, lead, and zinc.  Further prospecting of this showing is warranted given the concentration of critical minerals. 

Nanny/Boxer Target 

Historic trenching and prospecting at these showings, 21km northeast from the Silver Matt Zone, produced several anomalies for 2022 follow up.  Soil/talus-fines sampling along contours and ridgelines in this target area resulted in three high-priority anomalies for silver, lead, zinc, barium, gallium, and vanadium.  Trenches TR-22-09 and TR-22-10 contained significant intervals of silver, lead and zinc mineralization.  TR-22-09 exposed two non-continuous intervals (trench filled with talus from 4.8m to 8.5m); 0-4.8m graded 2 g/t Ag, 0.1% Pb and 11.9% Zn over 4.8m and 10.2-16.1m graded 7.8 g/t Ag, 0.62% Pb and 7.9% Zn over 5.9m.  Both intervals contained anomalous values of cadmium and gallium.  TR-22-10 exposed a 9.5m interval of 103 g/t Ag, 8.1% Pb, and 4.2% Zn, including 3mof 355 g/t Ag, 24.5% Pb, 6.2% Zn. Two samples were collected while prospecting the Nanny/Boxer target area with >20% Zn and anomalous silver, lead, cadmium, and antimony concentrations. 

Figure 5. Silver Geochemical Map, Michelle Project. 

Map Description automatically generated

QAQC 

Quality assurance and quality control protocols for rock, soil and drill core sampling follow industry standard practices.  Rock and soil samples were delivered directly to ALS Minerals preparation facility in Whitehorse, Yukon. Core samples were taken at 1.0m intervals in mineralized zones, and 3.0m intervals in unaltered, fresh host rock.  Blank, duplicate (coarse and lab pulp), and certified reference materials were inserted into the sample stream every 8th sample.  Core samples were cut in half, bagged, sealed and delivered to ALS Minerals preparation facility in Whitehorse, Yukon.  ALS Minerals Laboratories is registered to ISO 9001:2008 and ISO 17025 accreditations for laboratory procedures.  Rock and core samples were analyzed at ALS Laboratory facilities in North Vancouver using four acid digestion with an ICP-MS finish.  Over limits for Ag, Pb, and Zn were analyzed using Ore Grade four acid digestion.  Silver values >1,500ppm were analyzed using fire assay with gravimetric finish.  Lead >20% and Zinc >30% were analyzed using titration methods.  The standards, certified reference materials were acquired from CDN Resource Laboratories Ltd. of Langley, British Columbia and selected to represent expected mineralization.  Blank material consisted of non-mineralized limestone landscaping rock. 

About the Michelle Property 

Silver47 acquired the Michelle project from Silver Range Resources 100% by issuing 5,650,000 shares (16.8%) of Silver47.  Silver Range retains a 1% NSR on the Michelle project and is entitled to receive a one-time payment of $1 million if a positive production decision is made on a resource of not less than 80 million ounces of silver as outlined in a feasibility study on the Michelle project. Silver47 holds a ROFR on the sale of the NSR. 

Covering 15,900 hectares, the Michelle Project is located in north-central Yukon, 130km north-northeast of Dawson City, YT.  First discovered in 1973, exploration has identified 20 named showings with limited drilling defining 3 mineralized zones.  Silver, lead, zinc and a number of critical metals are known to occur within oxide and sulphide mineralization of the Bouvette Formation carbonates across the property.  Mineralization style is yet to be defined, with showings exhibiting characteristics of Mississippi Valley Type, Carbonate Replacement, within the broader classification of SEDEX deposits.  The Michelle Property is considered an early-stage exploration project, with further property-scale sampling and targeted drilling planned, pending a class 3 permit. 

Mr. Alex S. Wallis, P.Geo., is Vice President of Exploration for the Company who is a qualified person as defined by National Instrument 43-101.  Mr. Wallis has verified the data disclosed in this press release, including the sampling, analytical and test data underlying the information and has approved the technical information in this press release. 

Alex Wallis, P.Geo., VP Exploration 

(250) 505-6454 

awallis@silver47.ca 

About Silver47 Exploration Corp. 

Silver47 is a private Canadian exploration company focused on advancing its critical minerals project in the Yukon Territory.   

Cautionary Statement Regarding Forward-Looking Information 

This news release includes certain “forward-looking information” under applicable Canadian securities legislation. Forward-looking information involves risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes the completion of the pending assays, characteristics of the mineralized lens and mineralized trend, anomalous zinc concentrations in the Silver Matt Target, and further prospecting of the Heeler Target. Forward-looking information is necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking information. Accordingly, the forward-looking information discussed in this release, may not occur and could differ materially as a result of these known and unknown risk factors and uncertainties affecting the Company. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on this information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise. 

Categories
Junior Mining Precious Metals Silver Bullet Mines Uncategorized

Silver Bullet Mines Financing for High-Grade Gold and PGMs

Burlington, Ontario–(Newsfile Corp. – October 21, 2022) – On September 26, 2022 Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) disclosed it had found significant levels of palladium, platinum, rhodium, osmium and gold in its concentrate. On October 18, 2022 SBMI announced a second round of assay results proving up the palladium, platinum, rhodium, osmium and gold in representative mineralized material from its Buckeye Silver Mine near Globe, Arizona.

To allow SBMI to exploit the palladium, platinum, rhodium, osmium and gold, in addition to the original silver targets, SBMI announces its intention to carry out a non-brokered financing of Units. Each Unit will be priced at $0.20 (twenty cents) and will comprise of one common share and one full 30-cent (thirty cents) warrant with a 24-month term, with each such warrant being exercisable into a common share (the “Financing”).

The target amount for the Financing will be $600,000 (six hundred thousand dollars), with the number of Units to issue as a result of the Financing being 3,000,000. Units will be allocated on a first come, first served basis although SBMI retains the right to accept, reject or modify subscription agreements as it sees fit. The Financing is subject to regulatory approval.

SBMI currently owns a gravity mill near Globe, Arizona that is fully functional for the extraction of silver. The use of proceeds from the Financing will be to determine what equipment will be required to augment that mill’s capabilities to also extract the other elements mentioned above. All of the existing mill will be retained. Other proceeds from the Financing will be for working capital.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; the presence and quantity of minerals in the Company’s properties; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global viruses create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/141309

Categories
Junior Mining Labrador Gold Precious Metals

Labrador Gold Intersects 30.67 g/t Au over 1.1 Metres at North End of Big Vein

Labrador Gold Corp.
Labrador Gold Corp.

Figure 1.

Plan Map of Big Vein Target
Plan Map of Big Vein Target

Figure 2.

Big Vein Long Section
Big Vein Long Section

Figure 3.

Plan map of Kingsway Gold occurrences showing latest drill intersections.
Plan map of Kingsway Gold occurrences showing latest drill intersections.

TORONTO, Oct. 20, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce results from recent drilling targeting the prospective Appleton Fault Zone over a 12km strike length. The drilling is part of the Company’s ongoing 100,000 metre diamond drilling program at its 100% owned Kingsway Project.

https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Intersection_(road)%253BFault_(geology)%253BLabrador%253BMetre%253BNewfoundland_and_Labrador%253BGold%253BCompany%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%252286a5e179-5489-37b7-94fd-4248b510f16f%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

Highlights of the drilling include an intersection of 30.67 g/t Au over 1.1 metres from 208.85 metres that included 99.31 g/t Au over 0. 3 metres in Hole K-22-190 from the north end of Big Vein. The intersection is approximately 75 metres north of the discovery outcrop and is downdip of Hole K-22-177 that intersected the longest interval yet of 2.02g/t Au over 32m (see news release dated October 7, 2022). Also at Big Vein, Hole K-22-194 intersected 1.27 g/t Au over 6.17 metres from 115 metres that included 2.3 g/t Au over 3m. At Big Vein Southwest, Hole K-22-184 intersected 4.67 g/t over 1.64m from 336.25m that included 8.97 g/t over 0.75m.

“We continue to have drilling success at the north end of Big Vein where several significant intercepts have now been received, including 6.07 g/t Au over 19m in hole K-21-111 and 2.02 g/t over 32m in Hole K-22-177 and now 30.67g/t Au in Hole K-22-190,” said Roger Moss, President and CEO. “The down dip mineralization in K-22-190 shows the high-grade prospectivity of this area which we are currently following up. Big Vein has been drilled over a strike length of approximately 520 metres and remains open both to the northeast and southwest. Two drill rigs are currently drilling at Big Vein to test for extensions of the mineralization in both directions.”

Hole IDFrom (m)To (m)Interval (m)Au (g/t)Zone
K-22-194202111.05Big Vein






 242511.04
 115121.176.171.27
including11511832.30
 26526831.52
K-22-192nsv   Golden Glove
K-22-191nsv   CSAMT
K-22-19021.65220.351.00Big Vein












 12412511.15
 199.72000.32.31
 208.85209.951.130.67
including209.65209.950.399.31
 233.52351.51.10
 24824911.03
 310.453110.554.19
K-22-186nsv   CSAMT
K-22-184333338.595.591.47Big Vein SW


including336.25337.891.644.67
including336.253370.758.97

Table 1. Summary of assay results. All intersections are downhole length as there is insufficient Information to calculate true width.

A total of 58,265 metres have been drilled to date out of the planned 100,000 metre program. Assays are pending for samples from approximately 3,100 metres of core (11.5% of the total submitted).

The Company has $21 million in cash and is well funded to carry out the remaining 42,000 metres of the planned drill program as well as further target generation on the property.

Hole IDEastingNorthingElevation (m)AzimuthDipTotal Depth (m)
K-22-194661594543532745.714560704.0
K-22-192660700543200833.525045599.0
K-22-191666547.1544354346.83314045371.5
K-22-190661594543532745.714555668.2
K-22-186666538544353938.631065320.0
K-22-184661343.9543491644.48113045428.0

Table 2. Drill hole collar details

Figure 1. Plan Map of Big Vein Target.
https://www.globenewswire.com/NewsRoom/AttachmentNg/7412e031-b8c1-4ea8-aca7-6a2b5dc176b9

Figure 2. Big Vein Long Section.
https://www.globenewswire.com/NewsRoom/AttachmentNg/9a02780d-1ecb-41df-9aff-cf6b4c2075a6

Figure 3. Plan map of Kingsway Gold occurrences showing latest drill intersections.
https://www.globenewswire.com/NewsRoom/AttachmentNg/edc6fda6-b226-4f7f-b743-c2b47c938681

QA/QC

True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with atomic absorption finish as well as by ICP-OES for an additional 34 elements. Samples containing visible gold are assayed by metallic screen/fire assay, as are any samples with fire assay results greater than 1g/t Au. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.

Qualified Person

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.

Labrador Gold’s flagship property is the 100% owned Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. 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. LabGold is drilling a projected 100,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone with encouraging results. The Company has approximately $21 million in working capital and is well funded to carry out the planned program.

The Hopedale 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. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

The Company has 169,189,979 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
Base Metals Collective Mining Energy Exclusive Interviews Junior Mining Precious Metals Uncategorized

Collective Mining – Materially Expands the Main Breccia Discovery at Apollo

Joining us for a conversation is Ari Sussman of Collective Mining, Colombia’s Newest Exploration Company. Collective Mining has just announced another significant development coming from the flagship Guayabales Project. Today’s discussion will focus on the Main Breccia at the Apollo Target which is delivering High Grade along with some remarkable continuity with a new Strike of 385 Meters, Width at 350 Meters, and Vertical 825 Meters!

Collective Mining: Rapidly advancing, large-scale gold-copper-silver-moly porphyry and breccia targets with related high-grade vein systems in the mining-friendly department of Caldas in Colombia

Collective Mining’s two projects the Guayabales (Flagship) and the San Antonio (Secondary) are situated in Marmato, an underexplored yet multi-million ounce, high-grade gold and silver district located in the Middle Cauca belt in Colombia. With six out of eleven targets drilled, the Company has made three promising grassroot discoveries to date and is awaiting assay results on a potential fourth discovery. Drilling activity continues at a brisk pace with a 20,000+ metre drill program in 2022.

Website: https://www.collectivemining.com/
Listing:(TSX.V: CNL | OTCQX: CNLMF)
Corporate Presentation: https://www.collectivemining.com/investors/presentations/
Facebook: https://www.facebook.com/CollectiveMiningCol
Twitter: https://twitter.com/CollectiveMini1
LinkedIn: https://www.linkedin.com/company/collectivemining/?originalSubdomain=co
Instagram: https://www.instagram.com/collectivemining/
Youtube: https://www.youtube.com/channel/UC0J8zpCq0TNhJQePKdCrJag

The Best Video on Why and When to Buy and Sell Physical Precious Metals

Proven and Probable
Where we deliver Mining Insights & Bullion Sales. I’m a licensed broker for Miles Franklin Precious Metals Investments, The Only Online Dealer that is Licensed and Bonded (Period)! Where we provide unlimited options to expand your precious metals portfolio, from

Website| www.provenandprobable.com
Call me directly at 855.505.1900 or email: Maurice@MilesFranklin.com
Precious Metals FAQ – https://www.milesfranklin.com/faq-maurice/

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

Metallic Minerals to Present at the Emerging Growth Conference October 12th

VANCOUVER, BC / ACCESSWIRE / October 10, 2022 / Metallic Minerals Corp. (TSX.V:MMG; OTCQB:MMNGF) (“Metallic” or the “Company”) is pleased to announce the Company will be presenting at the Emerging Growth Conference on October 12th, 2022 at 9:00am PT (12:00pm ET).

Metallic Minerals Corp., Monday, October 10, 2022, Press release picture
Metallic Minerals Corp., Monday, October 10, 2022, Press release picture

This live, interactive online event will give existing shareholders and the investment community the opportunity to interact with CEO, Greg Johnson, who will discuss global and domestic metals markets, provide an overview of our key projects and upcoming catalysts and participate in a live Q&A session.

To register, click here or the adjacent logo. To learn more about Emerging Growth Conferences, visit www.emerginggrowth.com.

Metallic Minerals CEO, Greg Johnson, commented, “We are very pleased to be participating in our first Emerging Growth event and, against the backdrop of recently rebounding metals strength, feel this is excellent timing to introduce investors to the mining sector, the opportunities that abound and the value potential of Metallic Minerals as a precious and base metals explorer with exceptional assets. In 2022, we conducted exploration and drill campaigns at both our high-grade Keno Silver project adjacent to Hecla Mining in Yukon, Canada and our La Plata copper-silver-gold project in Colorado, USA. Results from both are pending receipt of assays and we anticipate news flow in that regard to commence soon.”

About the Emerging Growth Conference

The Emerging Growth conference is an effective way for public companies to present opportunities and communicate major announcements to the investment community in a time efficient manner. Conference focus and coverage includes companies in a wide range of growth sectors with strong management teams, focused strategy and execution, and overall potential for long-term growth. The audience includes individual and institutional investors, as well as investment advisors and analysts.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1480989%253B1481489%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1480989%253B1481489%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Hecla_Mining%253BLa_Plata%253BCompany%253BMineral%253BKeno_City%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%25227cad23d4-6755-3b0f-9a16-c008e5359400%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

About Metallic Minerals

Metallic Minerals Corp. is an exploration and development stage company, focused on silver, gold and copper in the high-grade Keno Hill and La Plata mining districts of North America. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources and advancing projects toward development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent Hecla Mining’s operations, with more than 300 million ounces of high-grade silver in past production and current M&I resources. Hecla Mining Company, the largest primary silver producer in the USA and third largest in the world, completed the acquisition of Alexco in September 2022. In April 2022, Metallic announced the inaugural NI 43-101 mineral resource estimate for its La Plata silver-gold-copper project in southwestern Colorado. The Company also continues to add new production royalty leases on its holdings in the Klondike gold district in the Yukon. All three districts have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits, as well as having large-scale development, permitting and project financing expertise.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: www.mmgsilver.com Phone: 604-629-7800

Email: cackerman@mmgsilver.com Toll Free: 1-888-570-4420

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

SOURCE: Metallic Minerals Corp.



View source version on accesswire.com:
https://www.accesswire.com/719578/Metallic-Mineralsto-Present-at-the-Emerging-Growth-Conference-October-12th

Categories
Base Metals Emx Royalty Energy Junior Mining Uncategorized

EMX to Receive US$ 3 Million Milestone Payment for the Parks-Salyer Royalty Property in Arizona

Vancouver, British Columbia–(Newsfile Corp. – October 4, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce that it will receive a US$3 million milestone payment from Arizona Sonoran Copper Company, Inc. (TSX: ASCU) (“ASCU”) for the Parks-Salyer royalty property (the “Royalty Property”) in Arizona. The Royalty Property was held under a lease arrangement by EMX’s wholly owned subsidiary Bronco Creek Exploration Inc., and was transferred to ASCU via Assignment and Royalty Agreements (the “Agreements”) executed earlier this year (see EMX news release dated February 10, 2022). EMX’s Royalty Property covers 158 acres of ASCU’s Parks-Salyer copper project. The milestone payment results from ASCU’s maiden resource estimate for the Parks-Salyer project that exceeds thresholds for contained copper included within EMX’s Royalty Property footprint. The Company also retains a 1.5% net smelter return (“NSR”) royalty covering the Royalty Property.

EMX’s Parks-Salyer Royalty Property provides an example of a significant pre-production payment to the Company resulting from its copper porphyry royalty generation program in Arizona. The Property’s porphyry targets, which are concealed beneath post-mineral cover, were identified by EMX based upon structural geological assessments of historical exploration data. The open ground covering these targets was acquired by EMX at minimal cost. The 158 acres transferred to ASCU complemented the property position at its Parks-Salyer project, while providing EMX with pre-production payments and exploration, development, and royalty upside optionality at no additional cost to the Company.

Commercial Terms and Property Summary (all dollar amounts in USD). The Agreements provided for a one-time cash payment to EMX for the assignment of EMX’s rights covering the Property, as well as the 1.5% NSR royalty interest (ASCU may buy back 1% of the royalty for $500,000), work commitments, annual advance royalty (“AAR”) payments, and the $3 million milestone payment to EMX based upon declared resources totaling 200 million pounds or more of contained copper covered by EMX’s Royalty Property. ASCU’s (global) maiden resources for its Parks-Salyer project were disclosed in a news release dated September 28, 2022.

Parks-Salyer is located approximately five kilometers northwest of Casa Grande, Arizona and approximately 1.5 kilometers southwest of the historical Sacaton open pit copper mine. Sacaton was a porphyry copper-molybedenum mine operated by Asarco (1974-1984), and is now being advanced by ASCU as the PEA stage Cactus Project. The Parks-Salyer deposit lies beneath post-mineral gravels and represents a tilted, and fault-displaced portion of the Casa Grande-Santa Cruz porphyry system.

Qualified Person. Michael P. Sheehan, 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.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Arizona%253BCompany%253BCasa_Grande%252C_Arizona%253BCopper_Project%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%2522d7d1d544-54c0-352e-9892-db00e84c428c%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

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

About Arizona Sonoran Copper Company. ASCU’s objective is to become a mid-tier copper producer with low operating costs, develop the Cactus and Parks-Salyer Project that could generate robust returns for investors, and provide a long term sustainable and responsible operation for the community and all stakeholders. The Company’s principal asset is a 100% interest in the Cactus Project (former ASARCO, Sacaton mine) and Parks-Salyer deposit which is situated on private land in an infrastructure-rich area of Arizona.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 973-8585
Dave@emxroyalty.com

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/139372

Categories
Uncategorized

Brandon Euthanizes Europe

Bob Moriarty
Archives
Sep 27, 2022

On February 16th the comedian running Ukraine began a massive shelling attack on the Donbas after murdering over 14,000 innocent civilians since 2014 in the region because they did not support the illegal coup d’état sponsored by the US.

In a speech given at the Munich Security Conference on February 19th the clown made it clear Ukraine wanted to regain its nuclear arsenal. Also on February 19th Brandon announced he knew Putin was about to attack Ukraine. That may have had something to do with Ukraine’s planned invasion of the Donbas scheduled for early March.

Russia responded with a preemptive attack on Ukraine on February 24th. Brandon called for more sanctions on Russia in response in addition to those imposed before Russia had done anything.

The European allies and US seized billions of dollars of Russian reserves in the west and other assets without even a shred of legal justification. The Ruble went into free fall going from 85 to the dollar on February 15th to a high of 147 on March 7th. Clearly the sanctions had an effect and cut the value of the Ruble almost in half.

Russia was prepared for yet another round of sanctions. They raised internal interest rates and demanded payment for their gas and oil in Rubles. Since then the Ruble has been the strongest currency in the world currently trading at 55 to the dollar. The Euro has fallen to below par with the Dollar, the British Pound is down over 20% and almost at par with the dollar. The sanctions hurt.

But they hurt Europe, they didn’t hurt Russia.

On March 1st I posted an article I had written in response to the sanctions. I called it The US, EU and Nato Just Committed Suicide. I’m going to take credit for being the first person in the world to write about how stupid and self-destructive the sanctions were. Since then the word suicide has been recognized by hundreds or thousands of other commentators. Everyone now understands just how much damage the sanctions have done to the economy of Europe and the US.

You see, there is no energy shortage. There is lots of natural gas available and coal and oil to any willing buyer. But at the insistence of the US upon their European sock puppets, Europe refused to agree to perfectly reasonable terms offered by Russia. This wasn’t a case of Russia refusing to sell resources to the EU. It was a case of the EU first stealing from Russia and then demanding Russia agrees to their terms.

Putin understood something that none of the “leaders” of the EU understood and most of the world still doesn’t get.

Europe needs Russia.

Russia does not need Europe.

So the cost of energy and food across the world has skyrocketed. This winter thousands of businesses in Europe are going to be forced to close because they cannot afford to pay their energy bills. Millions of Europeans are going to starve or freeze or be forced into poverty as a result of their own stupidity or all three at the same time.

I’ve been amazed because the solution to the problem was so simple but the actions of the “leaders” of the EU so obtuse.

Regardless of how they feel about the war, right or wrong on anyone’s part, if the sanctions hurt Europe and didn’t hurt Russia, all the EU had to do was declare victory and announce the end of the sanctions. Agree to pay on the terms Russia has offered to everyone and the economy recovers from this latest stupidity in government in a few months.

If Germany needs natural gas as a feedstock for their chemical plants and to provide heat for businesses and homes, all they had to do was turn on the Nord Stream II pipeline.

That was until September 27th when the US blew up Nord Stream I and Nord Stream II. Which Brandon has promised was in the works long ago.

So we are in one of those good news, bad news places. The good news is that thousands and perhaps millions of Europeans led by the Germans are going to starve, freeze and go bankrupt this year.

Because of this act of war on the part of the US, the probability of a nuclear exchange just went through the roof. We are closer to nuclear annihilation than we have ever been in history.

The bad news of course is that no matter how grim this winter is in Europe, they are totally fucked next year. Turning on the tap is no longer an option even if the EU sobered up.

Welcome to World War III brought to you by Brandon and the idiot neo-cons surrounding him. Is anyone stupid enough to believe Russia will not respond in kind?

###

Bob Moriarty
President: 321gold
Archives

321gold Ltd

Categories
Energy Junior Mining Lion One Metals Precious Metals

Lion One Closes C$13.36 Million “Bought Deal” Public Offering of Units

Lion One Metals, Proven and Probable

North Vancouver, British Columbia–(Newsfile Corp. – September 28, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company“) is pleased to announce that it has closed its previously announced bought deal offering of 17,348,000 units (the “Units“) (including 1,108,0000 Units issued pursuant to Eight Capital and Canaccord Genuity Corp.’s (together, the “Underwriters“) partial exercise of the over-allotment option granted to the Underwriters) at a price of $0.77 per Unit for gross proceeds of $13,357,960 (the “Offering“).

Each Unit consists of a common share of the Company (each, a “Common Share“) and one-half (1/2) of one common share purchase warrant (each whole common share warrant, a “Warrant“) to purchase a Common Share at a price of $1.05 for a period of 36 months following the closing date of the Offering. In the event that the volume weighted average trading price of the Common Shares on the TSX Venture Exchange (the “TSX-V“), or such other principal exchange on which the Common Shares are then trading, is greater than $1.75 for a period of twenty consecutive trading days at any time after the closing of the Offering, the Company may accelerate the expiry date of the Warrants by giving written notice to the holder thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company.

Pursuant to the Offering the Company issued 1,040,880 compensation warrants (the “Compensation Warrants“) to the Underwriters. Each Compensation Warrant is exercisable to purchase a Common Share at a price of $0.77 for a period of 36 months following the closing date of the Offering.

The net proceeds from the Offering will be used for exploration and development of the Company’s Tuvatu Gold Project.

The Offering was made by way of prospectus supplement dated September 22, 2022 (the “Prospectus Supplement“) to the Company’s base shelf prospectus dated May 13, 2022. Distribution of the Units issued pursuant to the Offering was insufficient to meet the TSX-V’s requirements for the listing of the Warrants so the Company has accordingly not applied to list the Warrants on the TSX-V.

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

Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release.
This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the use of proceeds from the Offering, 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.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/138668

Categories
Base Metals Energy Junior Mining Rover Metals

Rover Metals Receives Exchange Approval for IML Critical Minerals Project Acquisition, NT, Canada

Rover Metals Corp.
Rover Metals Corp.

VANCOUVER, British Columbia, Sept. 28, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) announces that further to its releases of August 16, 2022, September 14, 2022, and September 22, 2022, the Company has now received approval from the Toronto Venture Exchange for the Indian Mountain Lake (“IML”) option purchase agreement, and the milestone payments contained therein.

IML VMS Project
The IML VMS Project has had exploration dating back to the 1940s and has a historical resource spread across four zones on the project. The BB Zone and Kennedy Lake Zone have a combined historic resource of 1,400,000 tons grading 10% combined zinc and lead with 3.5 OPT (ounces per ton) of silver*. Approximately 900 metres west of the BB Zone, the Kennedy Lake West Zone has a historic resource of 610,000 tons grading 1.15% copper*. About 8 km southeast of the BB Zone, the Susu Lake Zone, has a historical resource consisting of 142,500 tons grading 0.95% copper*.

The property is located approximately 195 km east-northeast of Yellowknife, NT, off the eastern arm of Great Slave Lake. Seasonal access relies upon fixed or rotor wing support. A right of way was cleared to the Project from Thompson Landing in the 1970s. If this right of way were to be brushed out, it would provide barge access at Thompson Landing, from Yellowknife, with ground transportation, considerably lowering any logistical costs. Future Government of Canada federally funded hydro-energy infrastructure could come close to the Project if the Taltson Hydro Dam expansion proceeds through the eastern arm of Great Slave Lake into Yellowknife. At the southwest-end of Great Slave Lake, Osisko Metals is gearing up to reopen the Pine Point Zinc-Lead Mine. At nearby Hay River, NT, there is a rail line to the Teck Resources Zinc Refinery in Trail, BC.

*These resources are historic in nature. Further drilling is needed to bring them up to CIM Definition Standards. The historic data has not been verified by Rover. The historic information is provided in the 2103 Assessment Report for Indian Mountain Lake which is in public record with the Government of the Northwest Territories.

Technical information has been approved by Gary Vivian, M.Sc., P.Geo., QP for the purposes of NI 43-101.

New Website
An updated Corporate Fact Sheet, reflecting the addition of Nevada Lithium, is now available on our new website and a new corporate presentation will be available shortly.

Judson Culter, CEO at Rover Metals, states “Zinc and Copper, along with Lithium are the future, and fundamental to the growth of our company. However, we’re not abandoning our precious metals roots. Greenstone belts in northern Canada are well known for their abundance of gold and silver. The IML greenstone belt is comprised of 31,000 acres, and the historic base metal resource is coming from just three percent of the land package. The historic BB Zone and historic Kennedy Lake Zone include a historic resource of 4,900,000 ounces of high-grade silver. We believe the existing silver endowment is indicative of the potential for the remainder of the 30,000 acres of greenstone belt.”

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 Canada and the U.S.

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

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.