Tag: #MauriceJackson

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Base Metals Energy Junior Mining MillRock Resources Precious Metals

Millrock Confirms Third Mineralization Layer Beneath the Core Eureka Zone By Assaying Historical Core Samples From the Nikolai (Ni-Cu-Co-PGE) Project, Alaska

Millrock Resources, Proven and Probable

Figure 1

View looking east along the Eureka Zone within a large mafic-ultramafic magmatic complex. Note: Outline of the Ultramafic complex and Eureka zone are approximate.
View looking east along the Eureka Zone within a large mafic-ultramafic magmatic complex. Note: Outline of the Ultramafic complex and Eureka zone are approximate.

Figure 2

Cross section view of Eureka Zone looking west, showing trace of holes FL-003 and FL-006 drilled by INCO in 1997.
Cross section view of Eureka Zone looking west, showing trace of holes FL-003 and FL-006 drilled by INCO in 1997.

VANCOUVER, British Columbia, Sept. 26, 2022 (GLOBE NEWSWIRE) — Millrock Resources Inc. (TSX-V: MRO) (“Millrock”) is pleased to report additional assay results from the sampling of historical core from the Eureka Zone at its 100% owned Nikolai Project, which hosts nickel (Ni) – copper (Cu) – cobalt (Co) – platinum group elements (PGE) prospects.

The Nikolai Project is located within Alaska’s Delta Mining District, approximately 130 kilometers by road south of Delta Junction and approximately 280 kilometers southeast of Fairbanks. The Eureka zone consists of disseminated Ni-Cu-Co-PGE mineralization initially discovered by a subsidiary of INCO, and further expanded by Pure Nickel Inc., as reported in their press releases ranging between 2007-2014 (see Figure 1).

The new assay results confirm the existence of low-grade Ni-Cu-Co-PGE mineralization immediately below and adjacent to the Core Eureka Zone (“CEZ”). The new zone is named the Lower Eureka Zone (“LEZ”). Along with the Upper Eureka Zone (“UEZ”), hole FL-003, drilled by INCO in 1997, intersected 346 meters of nickel mineralization, representing an approximate true width of 275 meters (Figure 2).

Millrock President and CEO Gregory Beischer commented: “From historical drilling, it is clear that a large volume of mineralized rock is present in the Eureka Zone. We believe the demand for nickel, cobalt, and other Critical and Strategic Metals will be exceptionally strong in the coming decades, making low-grade mineralization such as at Eureka of interest.”

Figure 1. View looking east along the Eureka Zone within a large mafic-ultramafic magmatic complex. Note: Outline of the Ultramafic complex and Eureka zone are approximate.
https://www.globenewswire.com/NewsRoom/AttachmentNg/5acad3e2-2e55-4a93-b702-d81009a2ae43

Figure 2. Cross section view of Eureka Zone looking west, showing trace of holes FL-003 and FL-006 drilled by INCO in 1997.
https://www.globenewswire.com/NewsRoom/AttachmentNg/3fd1b98e-77c8-481c-bd68-484ec28815d0

About Eureka Zone:
Based on historical drill hole results, Millrock identified a probable zone of mineralization measuring approximately 1,200 meters by 400 meters by 300 meters that contains low but potentially economic concentrations of nickel, copper, cobalt, platinum, palladium, and gold. Upon further review of the historical drill hole results, it was noted that only incomplete, non-continuous sampling was done in rocks intersected below the CEZ in hole FL-003. Drill core from this hole is preserved at the Geologic Materials Center in Anchorage, Alaska. Millrock collected and assayed samples from hole FL-003 in the suspected LEZ.

Highlights of the core sampling program include:

  • FL-003: 100 samples were assayed between hole depths of 273.4 meters and 412.1 meters
  • FL-003: mineralized interval of 135.6 meters grading 0.20% Ni, 0.05% Cu, 0.016% Co, 0.062 ppm Pd, 0.026 ppm Pt, and 0.014 ppm Au (including eight historical intervals).

Based on the newly received assays and historical assays from INCO holes FL-003 and FL-006, Millrock now interprets there to be three distinct domains (UEZ, CEZ, and LEZ) within the Eureka Zone, with an estimated true thickness at the drilled location of 275 meters (Figure 2).

These three domains consist of strongly serpentinized rocks:

1: Upper Eureka Zone (UEZ) – sulfur-poor peridotite, with disseminated sulfides.

DrillholeTo (m)From (m)Interval (m)Ni (%)Cu (%)Co (%)Pd (ppm)Pt (ppm)Au (ppm)NiEq%CuEq%
FL-00360.2173.7113.50.200.050.0140.1010.0460.0070.320.65
FL-006185.0298.1113.10.210.060.0180.0930.0460.0060.350.70

2: Core Eureka Zone (CEZ) – sulfur-rich peridotite and norite with disseminated sulfides.

DrillholeTo (m)From (m)Interval (m)Ni (%)Cu (%)Co (%)Pd (ppm)Pt (ppm)Au (ppm)NiEq%CuEq%
FL-003173.7271.998.20.220.120.0190.1410.0640.0180.420.85
FL-006298.1382.884.70.260.130.0200.1430.0690.0250.470.94

3: Lower Eureka Zone (LEZ) – sulfur-poor melanorite, with disseminated sulfides.

DrillholeTo (m)From (m)Interval (m)Ni (%)Cu (%)Co (%)Pd (ppm)Pt (ppm)Au (ppm)NiEq%CuEq%
FL-003271.9407.5135.60.200.050.0160.0620.0270.0140.320.64
FL-006Hole was ended prior to the LEZ

Note: NiEq% and CuEq% in this press release are calculated using the following metal prices:
Nickel = $7.00/lb., Copper = $3.50/lb., Cobalt = $25.00/lb., Palladium = $1800/oz., Platinum = $900/oz. and Gold = $1600/oz.

In order to determine the deportment of nickel, copper, cobalt, and the precious metals, Millrock has submitted samples for laboratory analysis to identify which minerals are host to the valuable metals. From this information, an idea of metal recoverability can be gleaned. This will be very important information to have for a project of this type and scale.

Quality Control – Quality Assurance
Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. Core samples are kept in a secure location at all times. In this case, the samples were assayed at the Bureau Veritas laboratory in Vancouver, Canada. Preparation and analysis methods are described in further detail here. The sample preparation method code being utilized for the current sampling program was PRP70-250. Analysis methods used include MA370 – 4-acid digestion ICP-ES Finish and FA330 – Fire assay fusion Au, Pt, Pd by ICP-ES. For every 10 core samples, a blank, duplicate, or standard sample (Certified Reference Materials) of known copper, nickel, platinum, palladium, and gold concentration was analyzed. The Qualified Person is of the opinion that the results reported in this press release are reliable.

Historical assay results for core samples originally obtained by INCO in 1997 were used, in part, for the composite grade calculation for the LEZ in hole FL-003. Millrock has not independently verified the results. However, the drilling work completed in 1997 was done under the direct supervision of Gregory Beischer in his prior role as Exploration Manager for INCO. Mr. Beischer is the Qualified Person responsible for the contents of this disclosure. The historical samples were assayed at Chemex Lab, Inc. Appropriate quality control measures were in place.

Qualified Person
The technical information within this document has been reviewed and approved by Gregory A. Beischer, President, CEO, and a director of Millrock. 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, is a significant shareholder of junior explorer ArcWest Exploration Inc. and owns a large shareholding in Resolution Minerals Limited and Felix Gold. 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, Felix Gold, and Tocvan.

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 contain forward-looking information. 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. Such factors include without limitation the completion of the ongoing metal deportment study, and the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

“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.”

Categories
Energy Junior Mining Precious Metals

Are We Seeing Capitulation?

Bob Moriarty
Archives
Sep 26, 2022

Regular readers are well aware of how much respect I have for the Daily Sentiment Indicator from Jake Bernstein. It is simply the most valuable tool I have come across in investing. We are at an interesting point where a number of commodities and indexes are showing extremes of emotion normally found only at tops or bottoms. This time may be different but only time will tell.

For anyone who has been awake lately the stock/bond/currency crash many have foreseen is in action right now. There is this simple issue of there being far more debt in the world than can be paid so at some point we need to settle the books. Either the borrowers pay the debt or the lenders. And obviously now it is the lenders. It is probably the worst liquidity event in history.

This is the start of the biggest financial change in five hundred years as the debt based Western financial system collapses and like a dying scorpion stings everything in range as a result. Russia and China are working with the 65% of the rest of the world who do not support either the actions of Nato and the US in Ukraine or sanctions against Russia.

There will be a new financial system. As of now Russia is still saying it will be a basket of currencies but if they have any sense, they will shave off a lot of wasted effort and just go straight to a gold and silver based currency.

The conflict in Ukraine literally is a battle between good and evil with the WEF/NATO/the EU and US on one side and the rest of the world on the other. The EU and NATO are literally committing suicide. That will be as obvious as a pimple on the tip of your nose soon this fall as Europe finds itself in a state of revolution against the massive stupidity of the EU leaders.

In the midst of an energy crisis Belgium voluntarily shut down one of their remaining nuclear power plants on Friday at a time where 64% of Belgians believe they cannot afford to pay their energy bills. That’s not Putin, that’s just basic fucking stupidity. Is it no longer just a requirement for world leaders to be sociopaths but also they must be mental midgets? With perhaps the sole exception of Oban, the rest of the flock are brain dead idiots who couldn’t lead their way out of a wet paper bag.

The dollar index has been flying lately. Readers should understand the dollar index does not have anything to do with measuring the value of the dollar except in terms of other currencies, mainly the Yen, the Euro and the British Pound. On Friday the DSI for the dollar index stood a value of 97. In the 33 years the index has been tracked by the DSI it has hit 98 only once and 97 only three times. In rational times the dollar index would be topping.

As of Friday the DSI for the British Pound was 5 along with the Canadian Dollar and the Australian Dollar. The S&P stood at 5 with the Nasdaq. I suspect the rocket higher in the DXY had more to do with the stupidity of the UK Prime Minister doing her best to destroy the value of the Pound in her rush to the bottom among currencies. There is an excellent chance we will see the continuation of the stock market crash this week, at least through Tuesday.

With the penny juniors in the mining area falling off a cliff on Friday with massive drops across the board, we are starting to see capitulation. While it is painful to watch your investments dropping by double digits daily, this is where wise investors make their fortunes. The market will rocket higher just as soon as those silly investors who used margin finish selling off the last of their investments just to meet a margin call.

These sorts of opportunities only come once in a lifetime. Prepare yourself to rake up the falling fruit. This is a quote from Basic Investing in Resource Stocks.

“Weak hands buy at tops and sell at bottoms. Strong hands buy at bottoms and sell at tops. It’s vital that investors remember that at every top there are 50 reasons to buy, and at every bottom there are 50 reasons to sell. That’s what makes them tops and bottoms.”

The DXY, S&P and Nasdaq are nearing a massive turn soon. Gold and silver will resume their climb and when the capitulation in resource stocks end, they will rocket higher.

###

Bob Moriarty
President: 321gold
Archives

321gold Ltd

Categories
Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Corp. Discovery of Palladium and Gold

Silver Bullet Mines, Proven and Probable

Burlington, Ontario–(Newsfile Corp. – September 26, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) has assayed, among other elements, significant quantities of palladium and gold in the mineralized material from its Buckeye Silver Mine in Arizona. These surprise discoveries are not factored into any of the Company’s internal financial projections. This mineralized material was taken from a newly exposed section at the Buckeye.

Palladium is currently trading at roughly USD$2,100 per ounce and gold is currently trading at roughly USD$1,650 per ounce. For reference below, SBMI notes that one ppm (part per million) is equivalent to one gram per tonne. There are 28.35 grams in one ounce.

How The Gold and Palladium Were Found

The gold and palladium were discovered after SBMI initially processed roughly 60 tons of Buckeye Mine material at its 100%-owned mill, and then encountered challenges in pouring proper silver dore bars to satisfy the outstanding sample run order. An example of such challenges is in the picture below.



Recent dore bar from material bulk sampled at the Buckeye

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/138387_7e8588f9648ecb33_001full.jpg

First Batch Sample From a 60 ton Bulk Sample

To help identify the possible source of this, SBMI sent a sample (the “First Batch”) on September 7, 2022, from its concentrates of the 60 ton bulk sample to Lone Pine Analytical, a third-party lab, for further analysis. That analysis completed on September 11, 2022 revealed, from this sample, being an average of 2 collected concentrate samples, elevated levels of palladium and gold, as per the chart below:

ElementUnitConcentrationReport
(Duplicates)Limits
Auppm(1) 50.80.05
(2) 38.1
Pdppm(1) 83.80.05
(2) 80.0
Ptppm(1) .04570.05
(2) .667
Rhppm(1) .1500.05
(2) .255
Irppm(1) 0.1720.05
(2) .308
Osppm(1) .5720.05
(2) .382
Ruppm(1) ND0.05
(2) ND

In response to these unusual values, SBMI will be undertaking referee sampling with another independent third-party ISO accredited lab.

“Those are astonishing results for the gold and palladium,” said A. John Carter, SBMI’s CEO. “To the best of our knowledge the only significant producer of palladium in the United States of America is Sibanye-Stillwater in Montana, so this is a possible game-changer, not just for SBMI but for platinim group metal exploration in Arizona. We have heard anecdotal evidence of Pt-Pd production as a by-product of porphyry mining in the Globe area and have seen data from a local prospective Pt-Pd property, but we are still investigating what our results mean. At this time the Company is actively investigating the source and recovery of the anomalous palladium and gold values and are currently engaging additional technical support in this pursuit.”

The Company believes the results above are representative of the 60 tons of the material extracted from the Buckeye Mine.

Second Batch Samples From a 140 ton Bulk Sample

SBMI then took, from another larger bulk sample, a sample batch (the “Second Batch”) of a further seven samples from various locations in the mill. This bulk sample represents roughly 140 tons of material from the Buckeye Mine. SBMI’s assay team had initially assayed those samples for silver only. Subsequently, each of the following samples from this 140 ton bulk sample were labelled with unique identifiers as shown below:

  1. Head Feed 700 oz/Ton Ag
  2. 100 gm 2503oz/Ton Ag Conc
  3. #1 Table Cons. Original
  4. #1 Table Cons from Mill
  5. #2 Table Cons from Mill
  6. Tails
  7. Dorie Bead

Those labels were provided by SBMI’s assay team to Lone Pine Analytics by the leader of SBMI’s assay team, Mr. Robert Budd, who also collected and assayed those samples for silver. SBMI has on prior occasions and on its website made disclosure of Mr. Budd’s credentials and QAQC processes, and will include these matters below in the QA/QC for SBMI.

Second Batch Samples to Lone Pine Analytics

After being assayed for silver only by SBMI, the Second Batch was then sent to Lone Pine Analytical for further analysis of additional elements. The average values for Au and Pd of the 7 samples returned from Long Pine Analytics for the gold and the palladium were as follows:



To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/138387_capture.jpg

The Company believes these results are representative of the 140 ton bulk sample. The complete assay certificates with a photo of each sample will be posted to the Company’s website.

In response to these unusual values, SBMI will be undertaking referee sampling with another independent third party ISO accredited lab.

All of the roughly 200 tons of material (combined from the 2 bulk samples) were taken directly from the vein accessed at the lower drift. All 200 tons were taken and processed in the normal course, with no selective sampling.

“We made a decision early on to build our own mill in Arizona to high standards, and as a result we have been able to immediately recognize there were significant amounts of elements other than silver in this new material” continued Mr. Carter. “Standard exploration techniques may not have found the gold or palladium without the expenditure of millions of exploration dollars. We are there now, more quickly for much less money.”

SBMI has found a potential buyer for the concentrates who is likely able to process the palladium in addition to the gold and silver, but before making final decisions SBMI is waiting on further assay data and input from metallurgists, engineers and others.

QAQC For SBMI

All the samples above were collected by Mr. Robert Budd, a Metallurgical Process Engineer who began his career in metallurgical engineering in 1972. He has held various positions with various employers including Senior Engineer, Superintendent, Engineer, Technical Assistant, Technician, and Lab Assistant. Most recently, prior to joining SBMI he was involved in designing and creating an internal assay facility in Arizona for Freeport McMorran Inc. He has also been the the Principal Process Specialist for Fluor Canada out of Vancouver, the Senior Metallurgical Engineer for Doe Run Lead, the Project Engineer for the commissioning of a copper concentrator start-up at Oz Minerals’ Prominent Hill Mine in South Australia, Senior Metallurgical Engineer for Cyprus Miami/Phelps Dodge Miami in Arizona, Metallurgical Engineer and Metallurgical Lab Supervisor for Newmont Gold in Nevada, and Chief Metallurgist for Inspiration/Cyprus Miami in Arizona among other positions.

The samples analyzed by SBMI at its facility near Globe, Arizona were processed by Mr. Budd through the Lab Jaw Crusher, Lab Hammer Mill and Splitter Box into an aliquot. Most of the pulverized aliquot was mixed with a flux and flour combination and melted in a crucible at 1,850 degree Fahrenheit, with the remainder being logged and archived. Upon cooling, the poured melt was in the form of a metal button and slag, following which a bone ash cupel was utilized to eliminate the lead in the button to form a bead. The bead was then weighed, following which a solution of 6 to 1 distilled water to nitric acid was utilized to dissolve the silver in the bead at approximately 175 degrees Fahrenheit. A much more detailed description of the process and a picture of the assay lab can be found at https://www.silverbulletmines.com/qaqcassaylab.

QAQC For Lone Pine Analytics

For each batch, Lone Pine Analytical of Phoenix, Arizona sampled two distinct samples (approx 200mg), digested, filtered, diluted and analyzed. For the digestion, the lab used [1mL HF: 4.5mL Nitric Acid: 4.5mL HCI]. The samples were digested in a microwave in sealed PTFE tubes where the temperature reached 200C with a total cycle time of 40 minutes. Bismuth (Bi) was used the internal standard. A three-point calibration, plotted through zero was used with excellent linear correlation for each element. Thus, the lab used an internal and external standards (instrument calibration). Chain of custody protocols were strictly observed. Lone Pine Analytical, as of September 11, 2023, is in the process of renewing its ISO /IEC-17025 lab accreditation with a scope for metals in soils and rocks

Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s work referred to herein, and is the Qualified Person for this release.

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; 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/138387

Categories
Collective Mining Energy Junior Mining Precious Metals

Collective Mining Discovers Outcrop at Surface of Apollo Target & Extends Strike Length

Collective Mining Ltd.
Collective Mining Ltd.

Figure 1

Plan View of the Guayabales Project Highlighting the Apollo Target
Plan View of the Guayabales Project Highlighting the Apollo Target

Figure 2

Plan View of the Main Breccia Discovery at the Apollo Target, Highlighting in Green the Newly Discovered Areas Where the Main Breccia Outcrops at Surface and Assay Results from Drill Holes Announced to Date
Plan View of the Main Breccia Discovery at the Apollo Target, Highlighting in Green the Newly Discovered Areas Where the Main Breccia Outcrops at Surface and Assay Results from Drill Holes Announced to Date

Figure 3

Photos of Various Surface Exposures of Angular Breccia Discovered to the North and East of Drill Pad 3
Photos of Various Surface Exposures of Angular Breccia Discovered to the North and East of Drill Pad 3
  • Recent geological mapping of rocks exposed by pad 3 drill access tracks have confirmed that the Main Breccia discovery at the Apollo Target daylights at surface north and east of the drill pad.
  • Recently completed drill hole, APC-14, which was drilled due north from pad 3, intersected the Main Breccia approximately 50 metres below the newly discovered northern outcrop. The hole cut more than 240 metres in total of favorable mineralization within the Main Breccia. Assay results for drill holes APC-11 through APC-14 are anticipated in the near term.
  • Visual observation of the shallow portion of drill hole APC-14, indicates a marked increase in chalcopyrite leading to the possibility that copper grades will be higher than seen elsewhere in the Main Breccia discovery. Additionally, the Company’s conviction that the porphyry source for the Main Breccia discovery lies due south has now been increased. As a result, exploratory drill holes are currently being finalized to test the southern porphyry target.
  • The discovery of the northern outcrop of the Main Breccia coupled with visual observations in drill hole APC-14 has extended the strike length of the system to the southwest by 35 metres. As a result, the Main Breccia discovery now measures 385 metres in strike by 100 metres across by 500 metres vertical and remains open in most directions for further expansion. With respect to the eastern outcrop, exploration drilling is required to determine its geometry and how it might connect with the Main Breccia as presently it lies outside of the current working model.
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%2522Borehole%253BMetre%253BApollo%253BBreccia%253BDiscovery%252B%253BOutcrop%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%25226f337e25-f321-354c-bf7c-bb3d28d3996e%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

TORONTO, Sept. 22, 2022 (GLOBE NEWSWIRE) — Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce that visual observations from outcrop mapping and shallow diamond drill hole APC-14, confirm that the Main Breccia discovery at the Apollo target (“Apollo”) daylights at surface over significant areas located to the north and east of drill pad 3 in the southern part of the discovery. Apollo is one of eight grassroot generated porphyry related targets at the Guayabales project, located in Caldas, Colombia. The Main Breccia discovery at Apollo is a high-grade, bulk tonnage copper-gold-silver porphyry-related breccia target with previously announced intercepts including hole APC-2, which intersected 207.15 metres @ 2.68 g/t AuEq and APC-8, which intersected 265.75 metres @ 2.44 g/t gold equivalent (See press releases dated August 10th and September 13th respectively). As part of its fully funded 20,000+ metre drill program for 2022, there are currently three diamond drill rigs operating at the Apollo target.

“Confirmation that the Main Breccia discovery at Apollo extends to surface enhances future possibilities for the project. Additionally, the fact that we see a noticeable increase in chalcopyrite near surface in the southern part of the Main Breccia discovery has our team excited that the porphyry source is nearby and is likely located beneath the robust, yet untested high-grade copper-in-soil anomaly located due south of drill pad 3. As a result, our team is busy planning exploration drill holes to test for the porphyry source with additional details to be provided shortly,” commented Ari Sussman, Executive Chairman.

Details (See Figures 1 to 3)

The Company recently completed geological mapping of new outcrop exposure created by tracks designed to service the drill rig at Pad 3 at Apollo. This work has confirmed exposure of mineralized angular breccia at surface as part of the Main Breccia discovery first announced by the Company on June 22, 2022. Logging visuals from recently completed diamond hole APC-14, which was drilled beneath a portion of the northern outcrop area, intersected mineralized angular breccia commencing at 50 metres vertically below surface. The following observations are highlighted:

  • During the last two weeks the surface exploration team has identified various outcrops with mineralized angular breccia locating north of Pad 3. Geological observations in all outcrop areas highlight mineralized angular breccia with iron oxides and sulfides within the matrix between the clasts with a partial overprint of sericite alteration. Two historical samples taken from a very limited exposure of breccia outcrop within this area returned 0.6 g/t gold,18 g/t silver and 0.1% copper and 4.1 g/t gold and 29.3 g/t silver respectively. The recently excavated surface exposures have been systematically sampled and assay results are pending.
  • Visual observations from a recently completed diamond hole, APC-14, drilled to the north from Pad 3 and directly underneath a portion of the northern outcrop area, highlighted the presence of angular breccia hosting pyrite and significant chalcopyrite mineralization in disseminations and as replacement within the breccia matrix. This hole intercepted mineralized breccia from approximately 84 metres downhole (50 metres vertical) down to 132 metres with a second zone commencing at 197 metres and finishing at approximately 391 metres downhole. Assay results for this and other holes are expected in the near term.
  • The Apollo target area, as defined to date by limited surface outcrops, rock sampling of CBM veins and available breccia exposures plus copper and molybdenum soil geochemistry, covers an 800-meter X 700-meter area. This Apollo target area hosts the Company’s new grassroots Main Breccia discovery which, based on recent drill results, measures up to 385 metres in strike length by 100 metres in width and 500 metres vertical. The Main Breccia discovery remains open in most directions and drill holes will continue to confirm and expand the discovery. Within the broader target there are additional, yet untested breccia, porphyry and vein targets which could facilitate further expansion at Apollo.

Figure 1: Plan View of the Guayabales Project Highlighting the Apollo Target is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9d2b3619-a363-4b63-a4d3-7b091533f234

Figure 2: Plan View of the Main Breccia Discovery at the Apollo Target, Highlighting in Green the Newly Discovered Areas Where the Main Breccia Outcrops at Surface and Assay Results from Drill Holes Announced to Date is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/41d44be4-0e1f-41f0-8587-84461c4e917a

Figure 3: Photos of Various Surface Exposures of Angular Breccia Discovered to the North and East of Drill Pad 3 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8b220267-7bd9-4d39-8f0d-8e6a08d62a6b

About Collective Mining Ltd.

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

Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making significant new mineral discoveries and advance the projects to production. Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders.

The Company currently holds an option to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program on both the Guayabales and San Antonio projects, a total of eight major targets have been defined. The Company has made significant grassroots discoveries at both projects with near-surface discovery holes at the Guayabales project yielding 302 metres at 1.11 g/t AuEq at the Olympus target, 163 metres at 1.3 g/t AuEq at the Donut target and recently, at the Apollo target, 207.15 metres at 2.68 g/t AuEq, 180.6 metres at 2.43 g/t AuEg and 87.8 metres at 2.49 g/t AuEg. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See related press releases on our website for AuEq calculations)

Qualified Person (QP) and NI43-101 Disclosure

David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).

Technical Information

Rock and core samples have been prepared and analyzed at SGS laboratory facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.

Contact Information

Collective Mining Ltd. 
Steven Gold, Vice President, Corporate Development and Investor Relations
Tel. (416) 648-4065

FORWARD-LOOKING STATEMENTS  

This news release contains certain forward-looking statements, including, but not limited to, statements about the drill programs, including timing of results, and Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.   

Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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

Categories
Junior Mining Lion One Metals Precious Metals

Lion One Announces C$12.5 Million ‘Bought Deal’ Public Offering Units

NORTH VANCOUVER, British Columbia, Sept. 20, 2022 (GLOBE NEWSWIRE) —

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

Lion One Metals Limited (TSX-V: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company“) is pleased to announce that it has entered into an agreement with Eight Capital and Canaccord Genuity Corp., as co-lead underwriters and joint bookrunners (the “Underwriters“), pursuant to which the Underwriters have agreed to purchase, on a “bought deal” basis,16,240,000 units of the Company (the “Units“) at a price of C$0.77 per Unit (the “Issue Price”), for total gross proceeds of C$12,504,800 (the “Offering“).

Each Unit will consist of one common share (a “Common Share”) in the capital of the Company and one-half (1/2) of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”) of the Company. Each Warrant shall be exercisable to acquire one Common Share (a “Warrant Share”) at a price per Warrant Share of C$1.05 for a period of 36 months from the closing date of the Offering.

If, following the closing of the Offering, the volume weighted average trading price of the Common Shares on the principal exchange on which the Shares are listed for any 20 consecutive trading days equals or exceeds C$1.75, the Company may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is 30 days following the date of such written notice

In addition, the Company has agreed to grant the Underwriters an option (the “Over-Allotment Option”), exercisable in whole or in part, for a period of 30 days after the closing of the Offering, to purchase up to an additional 15% of the number of Units sold pursuant to the Offering, on the same terms as the Offering, to cover over-allotments and for market stabilization purposes.https://embed.fireplace.yahoo.com/embed

The net proceeds from the sale of the Units will be used for exploration and development of the Company’s Tuvatu Gold Project, as well as working capital and general corporate purposes.

The Units will be offered by way of a prospectus supplement (the “Prospectus Supplement”) to the Company’s base shelf prospectus dated May 13, 2022. The Prospectus Supplement will be filed in Alberta, British Columbia and Ontario and, together with the related base shelf prospectus, will be available on SEDAR at www.sedar.com.

Closing of the Offering is expected to take place on or about September 28, 2022 and is subject to certain conditions including, but not limited to the receipt of all applicable regulatory approvals including approval of the TSX Venture Exchange.

The securities offered in the Offering have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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 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.

Categories
Base Metals Energy Junior Mining Rover Metals

Rover Metals Options Nevada Lithium Project

VANCOUVER, British Columbia, Sept. 20, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to announce that it has signed a letter of intent (“LOI”) to option a 100% ownership interest in a claystone lithium project located in the state of Nevada, USA. The land package under option is a district scale lithium claystone deposit situated on Bureau of Land Management land.

Nevada Claystone Lithium Project
The Company, through the vendor of the project, and through ALS Laboratories, has verified high-grade lithium surface samples at the project. Highlights of these surface grab samples processed by ALS Laboratories include: Sample# AMZ-8 of 780ppm Li, Sample# AMZ-26 of 910ppm Li, and Sample# AMZ-28 of 710ppm Li. The Company has pulled additional surface grab samples from the project and analysed them with a Handheld Laser Induced Breakdown Spectroscopy (“HH LIBS”). Highlights of the HH LIBS include: 1,218 ppm Li, 778 ppm Li, 724 ppm Li, and 707 ppm Li.

Based on the results of its surface sampling campaign at the project, the Company has outlined a USD200,000 Reverse Circulation Drill Program to follow-up on the high-grade areas of the project.

The project includes green energy infrastructure of hydro power lines, direct road access, and a nearby town with a readily available work force.

Later-stage comparable claystone lithium projects include Cypress Development’s Clayton Valley project; American Lithium’s TLC project; Spearmint Resources’ McGee project; Noram Lithium’s Zeus project, and Iconic Minerals’ Bonnie Claire project. All of the aforementioned companies are later-stage mining companies, with a NI 43-101 resource definition. Rover’s Nevada Lithium project is greenfields in nature, with no drilling to date.

Summary of First Year Commitments Under the LOI
The Company’s earn-in to a 100% ownership of the claystone lithium project calls for USD200,000 in exploration expenditures within 24 months of the signing of a definitive agreement.

Technical information has been approved by David White, P.Geo., QP for the purposes of NI 43-101. ALS Laboratories is ISO/IEC 17025:2017 and ISO 9001:2015 certified.

An updating release will be provided once the Company executes a definitive option agreement.

Tobin Gold Project
The Company has made the decision to drop its acquisition plans for the Tobin Gold Project, NV, USA in light of the annual advance royalty holding costs of the Tobin project, and also as a result of today’s news with regards to the acquisition of a new Nevada Lithium project.

Judson Culter, CEO at Rover Metals, states, “The Biden Administration’s Bill for Inflation Reduction and Energy puts milestones in place for critical minerals like Lithium to be effective January 1, 2023. Rover’s management looked all over the U.S. and Canada and ultimately decided on Nevada as the best jurisdiction to advance a lithium project. Yes, the project is greenfields in nature, however, Rover’s management team has a proven track record in deploying millions of dollars in exploration capital into mineral resource projects. We see tremendous near-term growth at this project.

Our corporate website will be updated in the coming days to reflect the Lithium asset addition.”

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 both: (1) critical minerals projects; as well as (2) precious metals projects. The Company is exclusive to the mining jurisdictions of Canada and the U.S. Five of the Company’s existing mineral resource development projects are located near to the city of Yellowknife, 60th parallel, Canada.

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

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Categories
Junior Mining

StrikePoint Signs Definitive Agreement to Sell Yukon Properties to Snowline Gold

Vancouver, British Columbia–(Newsfile Corp. – September 20, 2022) – StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) (“StrikePoint” or the “Company”) is pleased to announce that the company has signed a Definitive Agreement dated September 19, 2022, with Snowline Gold (“Snowline”) (CSE: SGD) (OTCQB: SNWGF) with respect to the acquisition by Snowline of StrikePoint’s Yukon properties. The terms of the transaction set out in the Definitive Agreement include:

  • Snowline will make a cash payment to StrikePoint of $500,000;
  • Snowline will issue 500,000 shares to StrikePoint (valued at $1,375,000);

CEO and Director of StrikePoint, Shawn Khunkhun commented, “We have now positioned ourselves as shareholders in Snowline Gold, an exciting, Yukon-focused exploration company with a new discovery, while remaining focused on advancing our Golden Triangle properties.”

The properties being divested include: Golden/Nug/Oly, Can East, Horn, How, MacEast, Nordic, Otter, PPM, TET and Tintina. The projects are located mainly in the Mayo and Watson Lake Mining districts. The Golden Oly project an intrusive-related gold system, located approximately 75 kilometers south of Snowline Gold’s flagship Rogue.

StrikePoint is wrapping up its 2022 exploration programs at its two Golden Triangle properties: the Willoughby gold-silver property and the Porter silver property. To-date, 1,382 drill core samples and 203 surface samples have been shipped from drill and surface exploration programs on both properties with all assays pending.https://embed.fireplace.yahoo.com/embed?

About StrikePoint

StrikePoint Gold is an exploration company focused on discovering high-grade precious metals resources in Canada. The Company controls two advanced-stage exploration assets in BC’s Golden Triangle. The past-producing Porter silver project and the Willoughby gold project, located adjacent to Ascot Gold’s Red Mountain development project. The company also owns a portfolio of gold properties in the Yukon.

ON BEHALF OF THE BOARD OF DIRECTORS OF
STRIKEPOINT GOLD INC.

“Shawn Khunkhun”

Shawn Khunkhun
Chief Executive Officer and Director

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

Neither the TSX Venture Exchange nor it’s 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.

For further information: Shawn Khunkhun, CEO & Director, 1-604-609-5137, www.strikepointgold.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/137760

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

EMX Receives Initial Production Royalty Payments from Balya North

Vancouver, British Columbia–(Newsfile Corp. – September 15, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the receipt of initial royalty production payments from its Balya North royalty property in western Turkey. EMX holds an uncapped 4% net smelter return (“NSR”) royalty on metals production from Balya North, a newly commissioned lead-zinc-silver mine operated by Esan Eczacibaşi Endüstriyel Hammaddeler San. ve Tic. A.Ş. (“Esan”), a private Turkish company.

In the first half of 2022, Esan’s advancement of the Balya North asset consisted of mine development and opening of production headings and faces for exploitation in Q3 and Q4 of 2022 (see EMX News Release dated December 20, 2021). Production and processing of materials from Balya North in the first half of 2022 largely consisted of material stockpiled during the construction process. EMX has received payments from the processing of this material totaling US$98,787, inclusive of US$15,069 in Value Added Tax (“VAT”). These royalty payments are from 30,223 tonnes of processed material averaging 1.68% lead, 1.34% zinc, and 39.9 g/t silver.

The Balya North Mine is now operational. From current technical information provided by the operator, EMX anticipates that production will now ramp up to reach a projected production total of approximately 170,000 tonnes of material in 2022. Further, EMX anticipates production of approximately 450,000 tonnes of material from Balya North in 2023. It should be noted that the grades of material mined so far at Balya North are from materials removed during the construction and development process. Grades are expected to be significantly higher as commercial production progresses.

Balya North Lead-Zinc-Silver Deposit: The Balya North lead-zinc-silver deposit is situated in the historic Balya mining district of northwestern Turkey. Mining at Balya has taken place since antiquity, with several generations of historical operations. The Balya North property contains extensive zones of shear-zone hosted and carbonate replacement style (“CRD”) lead-zinc-silver mineralization in addition to skarn and more copper-rich styles of mineralization developed at depth.

Esan acquired the EMX royalty property at the end of 2019 (See EMX news release dated January 7, 2020) and is a private Turkish company that operates 40 mines and eight processing plants. Most importantly, Esan operates a lead-zinc mine and flotation mill on the property immediately adjacent to EMX’s Balya North royalty property. The mineralization at Balya North is effectively an extension of the mineralization currently being mined by Esan in the main Balya deposit.

Esan is also continuing extensive exploration programs at Balya North to expand the currently defined zones of mineralization and to find new bodies of mineralization on the EMX royalty property.

More information on the Balya royalty asset can be found at www.EMXroyalty.com.

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 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.

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”, “go forward” 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 (the “MD&A”) and the most recently filed 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/137220

Categories
Base Metals Energy Junior Mining Rover Metals

Rover Metals Signs Definitive Option Agreement for Brownfields Critical Minerals Project at 60th Parallel, NT, Canada

VANCOUVER, British Columbia, Sept. 14, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) announces that further to its release of August 16, 2022, the Company has signed a definitive option agreement (the “Option Agreement”) with Panarc Resources Ltd. (“Panarc”) for the staged acquisition of up to a 90% ownership interest in the Indian Mountain Lake VMS project, NT, Canada (the “Project”).

Indian Mountain Lake VMS Project
The Indian Mountain Lake 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.

Summary of the First Year Terms of the Indian Mountain Lake Definitive Option Agreement
In accordance with the terms of the Option Agreement, during the first year following the date of the Option Agreement, the Company has committed to incurring $200,000 in exploration expenditures on the Project and making a cash payment of $20,000 to Panarc. In addition, and subject to the approval by the TSX Venture Exchange, Rover will issue Panarc an aggregate of 3,500,000 common shares in the capital of the Company (the “Common Shares”) within six months of the signing of the Option Agreement. The Common Shares, if authorized for issuance, will be subject to the standard four-month regulatory hold period.

Upcoming Conference
Rover Metals will be presenting at the Redefining Electric Metals Conference in Calgary, AB, on September 19th and 20th. Registration is at www.redefiningelectricalmetals.com

New Website
An updated Corporate Fact Sheet is now available on our new website.

Judson Culter, CEO at Rover Metals, states “We see tremendous growth coming for critical minerals fueled by domestic EV demand in the U.S. and Canada. 97% of the Indian Mountain Lake greenstone belt, or approximately 30,000 acres, remains largely unexplored with the drill bit, so we are very excited about this project’s future.”

Corporate Update
A Q&A interview with Rover’s CEO, Judson Culter, is now also available for viewing here.

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 both: (1) critical minerals projects; as well as (2) precious metals projects. The Company is exclusive to the mining jurisdictions of Canada and the U.S. Five of the Company’s mineral resource development projects are located near to the city of Yellowknife, 60th parallel, Canada.

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

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Riverside Hits Gold in 8 of 12 Holes at the Oakes Gold Project in the Geraldton Gold Belt, Ontario, Canada

Vancouver, British Columbia–(Newsfile Corp. – September 13, 2022) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”) is pleased to report assay results for the remaining 7 drillholes of its twelve-hole, 1700-meter diamond drill program completed at the Oakes Gold Project (the “Project”) in northwestern Ontario, Canada. The primary focus of the first drill program at Oakes was to test the ‘HG’ Target identified by geophysics and trenching programs for gold grades and continuity. The results came back favorable with hole 22-11 returning 5 intervals of gold over a total interval of 55 meters and hole 22-06 returning 4m @ 1.7 g/t Au. The Induced Polarization (IP) work conducted by Riverside in the summer of 2021 showed the HG IP Target extended westward beyond the area of trenching and sampling. Drilling this year has now confirmed the gold continuity of over 1.2 kilometer strike, hitting the mineralized structure and further open in both east and west. The drill results announced here fit with the orogenic gold model and further drilling can be progressed with confidence as all the holes of this program were shallow, with intercepts at less than 120m for most cases, while the system is wide open at depth.

This drill campaign has now successfully expanded the known gold mineralization well beyond the outcrops and laid the groundwork for the next drill campaign to continue expanding the Oakes gold camp. IP data provided strong conductivity and complimentary resistivity anomaly trending roughly east-west parallel to the geological units with greater confidence. The 7 holes announced here intercepted favorable geology of metavolcanics, “greenstone”, consistent with the geology noted in the first five holes and further geological constraints. As this part of Oakes has never been drilled, the first drill program comprised of shallow holes with the intent of intercepting the target at 100 m vertical below surface. The mineralized zone on surface is known to pinch and swell and averages about 5 m in width. The best hole in the second batch of reporting was DDH-22-06 which returned 1.7 g/t over 4 m with one sample being almost 5 g/t gold. The best intercept in the program was 8.4 g/t over 1 m in Hole #2.

Table 1: Spring 2022 Drill Program Highlights at Oakes (holes 6-12)

Hole No.from (m)to (m)length (m)Au (g/t)
OAKES-22-06727641.7
including727314.9
OAKES-22-06858831.0
OAKES-22-079810020.9
OAKES-22-08910.51.50.4
OAKES-22-091818.50.51.0
OAKES-22-11222312.2
OAKES-22-1196.5981.51.0
OAKES-22-11113.51151.51.1
OAKES-22-11125.51271.52.3
OAKES-22-1115115210.9
OAKES-22-12106.51081.52.4
OAKES-22-1213013110.4


All samples comprised half-core, saw-cut samples with QA/QC described below and further at www.rivres.com. Samples are generally considered to be 90-95% to true width.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%2522Target_Corporation%253BDrill%253BTom%25C3%25A1%25C5%25A1_Hole%25C5%25A1%253BDrilling%253BCompany%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%25220b3e363e-27c8-3807-828c-310b2cededf8%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

Technical Interpretations & Observations

DDH-22-06 & 07 were designed to intercept the HG Zone beneath Trench 1 at about 100 m depth. The target zone comprises strongly foliated, fine grained, metavolcanic rocks showing strong silicified zones with narrow bleached sections. Alteration comprises abundant biotite and chlorite bands, the top of the unit shows quartz veining with semi-massive pyrite-pyrrhotite and trace chalcopyrite which generally described the mineralized environment at Oakes. Quartz carbonate veinlets and stringers are more frequent from 80 m to 110 m down the hole consistent with the drill target gold bearing area. The overall 25-30m mineralization halo and main zone which is near vertical, now demonstrates strong consistency and provides the Company confidence of a significant gold system at Oakes. DDH-22-08 hit a fault and could not reach the target. DDH-22-09 was the setback collared to drill the Brinklow IP anomaly south of HG Zone, while DDH-22-10 was collared on the Crib Road with the intent to test the IP anomaly associated with the metasediment/metavolcanic contact boundary mapped at this location. Holes 8, 9 and 10 were not intended to evaluate the HG target and were instead testing parallel features. Holes 6, 7, 11, 12 provide technical data specific to the HG trend and give positive results for further exploration at Oakes which lies 25 km east of the Hard Rock Mine currently being constructed by Greenstone Gold (Equinox Gold) with a Proven & Probable Reserves of 5.5Moz at 1.27 g/t Au.[1]


 
Figure 1: Collars and projected drill holes for 12 holes plotted on IP Chargeability Map
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/136913_da0d27ece44d68d1_002full.jpg

DDH-22-11 was targeting an IP conductivity anomaly associated with the HG Zone on trend with the mineralization defined on surface (and in drill core) at Hole 6 located 600 m to the east along what is believed to be the same structure. Assays returned gold results associated with veining throughout the hole and as high as 2.3 g/t gold. Hole 11 was collared in metasedimentary rocks and drilled northward into metavolcanic rocks. Bedding and the contact between the two units was measured at 50 degrees to the core axis whereas foliation and shearing is at about 45 degrees. Alteration comprises moderately to strong biotitic and weak to strong chlorite zones sometimes associated with carbonate zones. Quartz veining and silica content increases starting at 80 m downhole. Sulphides are associated with quartz veins and comprise 2-5% disseminated Pyrite-Pyrrhotite seen within local fracture fillings and stringers.


 
Figure 2: Interpreted North – South Cross Section DDH-22-11 demonstrating the progression from brittle down into brittle-ductiledeformation as the targeting model having found gold over 55m drill width zone in hole 11
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/136913_da0d27ece44d68d1_004bfull.jpg

DDH-22-12 was collared in gabbro and drilled north through metasedimentary rock into metavolcanics. Mineralization is noted within similar altered rock but only within shears in the mafic volcanics and does not appear to be associated with the contact zones. Sheared zones commonly a focus for gold mineralization in orogenic systems like this one are expressed as altered, fine-grained, metavolcanics with moderate to strong chlorite-biotite alteration with quartz-carbonate veins and stringers with 1-2% disseminated pyrite and pyrrhotite.

Conclusions

The HG Zone at Oakes has been proven to extend well beyond the strike extent defined by trenching and has now been drill proven to at least 1.1 km in length. To date the drilling has only tested the upper 100 m of the structure where mineralization appears associated with quartz veins that show visible gold within pyrite rich veins. The gold mineralization is associated with quartz and quartz-carbonate veins in shear zones within metavolcanic rocks often (near-vertical which can bode well for potential future mining and predicting the next round of drilling). Quartz veins that are subparallel to foliation appear to be the veins that carry gold and are cut by later quartz carbonate veins that do not have sulfides. The quartz veins are mostly associated with brittle type fracturing with lesser semi-ductile type, potentially indicating that drilling was approaching the upper brittle-ductile transition which can be highly favorable in large orogenic gold deposits. The nature of the fracturing suggests that the shallow drilling is primarily within the upper brittle deformation zone as shown in Figure 2. The fact that the gold veins can now be traced in drill holes more than 3x beyond the previous surface trenching expands the Oakes project potential greatly.

The Oakes property is located along the general metallogenic boundary of the Wabigoon and Quetico sub-provinces and this boundary is commonly a major fault breaks, and large gold resources are associated with these breaks generally in secondary shear zones in the Canadian shield geologic provinces. The Hemlo Gold Mine to the south is hosted in a brittle fracture environment and the Black Fox gold mine to the east in Matheson is hosted in a semi-ductile fracture system at depth and more brittle near the surface. Riverside sees the potential for brittle fracture zones progress into semi ductile and ductile zones at depth in general becoming wider and potentially richer as has commonly been found and further drilling is warranted.

Riverside’s President and CEO, John-Mark Staude: “Riverside has expanded the gold zone at Oakes along strike over 1 km and begun showing the continuity on surface and to depth, consistent with the goals for the 2022 drill program. Next steps will include more geophysics to map the structural features to trace the HG Zone and gold mineralization. We are very encouraged by these good results covered in this and the prior news release and are pleased to see how effective the geophysical surveys were at finding mineralization and predicting extensions. Moreover, we remain very cautiously optimistic to see our first program of shallow drilling demonstrate continuity of mineralization along strike and at depth. Riverside continues to pursue the Prospect Generator hybrid model, by providing shareholders with the upside for discovery on multiple projects, and with different partners, along with the current self-funded value adding project.”

Qualified Person & QA/QC:
As part of the quality control Riverside inserted blanks, duplicates and two different standards, into the sample stream prior to delivery at Activation Laboratories in Thunder Bay. Logged core was delivered from site to a core cutting facility in Thunder Bay by Riverside and trucked to Activation Laboratories from this facility typically in batches of 2 to 4 holes at a time. Multi-Element Analysis using Aqua Regia Extraction and (40 element) Inductively Coupled Plasma Atomic Emission Spectrometry Analytical and fire assay for gold methods where used. Activation Laboratories is an ISO/IEC accredited laboratory.

The scientific and technical data contained in this news release was reviewed and approved by Freeman Smith, P.Geo., a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided within this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 80M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com

Mehran Bagherzadeh
Corporate Communications
Riverside Resources Inc.
Mehran@rivres.com
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

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

_______________________________

[1] https://www.equinoxgold.com/_resources/projects/technical_reports/2021-Hardrock.pdf

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136913