Tag: #MauriceJackson

Andy Hecht – Oil & Gas, Supply-Side Inflation Q&A

Post author By admin
Post date June 8, 2022

Integrous- Oil & Gas- Drilling & Exploration- The Answer to Supply-Side Inflation

Crude oil at the highest price since 2008- Inventories and product prices support higher highs
Natural gas is also at a fourteen-year high- Inventories, and European prices support the continuation of a very volatile bull market
The four reasons for higher fossil fuel prices- SPR releases are a temporary band-aid
Drilling and exploration are the answer to supply-side economic woes
XOP outperforming the stock market in 2022- The trend is your best friend

Throughout most of 2021, the US Federal Reserve called the rising inflationary pressures “transitory.” Late last year, increasing consumer and producer price data convinced the central bank that the economic condition was not a temporary event. The Fed told markets it was preparing to shift to a more hawkish approach to monetary policy to address the economy’s demand-side pressures. The artificially low interest rates, liquidity, and government stimulus in 2020 and 2021 planted the inflationary seeds which sprouted during the second half of 2020, throughout 2021, and into early 2022.

In early 2022, the geopolitical landscape threw a curveball at the central bank when Russia invaded Ukraine, launching the first major war in Europe since WW II. Sanctions on Russia and Russian retaliation began to cause even more upside pressure on commodity prices as Russia is a leading producer of energy and other raw materials. China and Russia’s “no-limits” support agreement complicated matters, setting the stage for the invasion.

Crude oil and natural gas prices had already been rising by the end of 2021. The leading benchmark crude oil futures are the Brent and WTI contracts. After falling to a record low below zero in April 2020, nearby WTI crude oil futures at $75.21 per barrel. Brent futures fell to $16 per barrel, the lowest price of this century in April 2020, and closed 2021 at the $77.78 level.

Meanwhile, nearby natural gas futures dropped to $1.44 per MMBtu in June 2020 and were at the $3.73 level on December 31, 2021. The oil and gas futures markets had been rising, making higher lows and higher highs throughout the second half of 2020 and in 2021. In 2022, they took off on the upside, reaching fourteen-year highs.

Increasing inflation and post-pandemic demand created a bull market in crude oil and natural gas that turned into a perfect bullish storm in 2022. The war and a dramatic geopolitical shift made dynamics shift from demand to supply-side concerns. The Fed has few if any tools to deal with supply-side economic events, and the only answer could be increasing supplies, which is a challenge in the current environment.

Just as the Fed mischaracterized inflation as “transitory,” US and European policies addressing climate change have played a role in the ascent of hydrocarbon prices. Since energy prices are inflation’s root cause, exploration and drilling could be the only answer to address the economic condition. Fossil fuels continue to power the world, and the price action is screaming that monetary policy has taken a backseat to the energy debacle.

Crude oil at the highest price since 2008- Inventories and product prices support higher highs

Nearby NYMEX WTI futures rose to $130.50 per barrel on March 7 after Russia invaded Ukraine on February 24, and the war escalated.

Source: Barchart

The chart highlights that the WTI futures were sitting at just above the $115 level on May 27. Brent crude oil hit a high of $139.13 in early March.

Source: Barchart

The chart shows the price was at around the $119.43 per barrel level in late May 2022. The all-time 2008 peaks in WTI and Brent were at $147.27 and $147.50.

While crude oil missed an all-time high, gasoline and heating oil hit record prices in 2022.

Source: Barchart

The chart shows that gasoline futures prices reached $4.0640 per gallon wholesale in May, an all-time high. July gasoline was sitting at over the $3.90 level on May 27.

Source: CQG

Heating oil is also a proxy for distillates like diesel and jet fuels. The chart shows the spike to a record peak in distillate in April at $4.7072 per gallon wholesale. Heating oil was also over the $3.90 per gallon level on May 27.

Inventories and US production have supported prices:

Source: US Energy Information Administration

So far, in 2022, US crude oil stockpiles rose by 1.9 million barrels, but the data includes strategic stockpile releases. Meanwhile, gasoline inventories declined by 12.9 million barrels, and distillate stocks fell by 19.9 million barrels from the beginning of 2022 through May 20. Consumers require oil products, and the data supports higher prices. While US daily output rose from 11.7 to 11.9 million barrels per day in 2022, they remain below the March 2020 13.2 mbpd record peak.

Natural gas is also at a fourteen-year high- Inventories, and European prices support the continuation of a very volatile bull market

NYMEX natural gas futures fell to a twenty-five-year low in June 2020, reaching $1.432 per MMBtu.

Source: CQG

The long-term chart shows that natural gas futures moved over six times higher by May 2022, reaching a high of $9.447 per MMBtu and sitting at over the $8.70 level on May 27.

Natural gas inventories are at low levels, with the price at a fourteen-year high.

Source: EIA

At the 1.812 trillion cubic feet level on May 20, natural gas in storage across the US was 17.6% below last year’s level and 15.3% under the five-year average.

Over the past years, natural gas liquefication opened a burgeoning export market for the US energy commodity as it now travels worldwide via ocean vessels. Natural gas’s addressable market expanded far beyond the US pipeline network.

While US natural gas exports have sold LNG to Asian consumers under long-term contracts, the war in Europe and Russian retaliation for sanctions have sent European natural gas prices to record levels.

Source: Barchart

The chart shows that ICE UK natural gas futures rose to the 800 pounds per 1,000 thermals level in March 2022. Before 2021, the all-time high was at the 117 level, and at the 171.61 level on May 27, the price was well above the pre-2021 record peak. Russian natural gas travels by pipeline to European consumers. The Russians have demanded payment in rubles and have cut off “unfriendly” countries that support Ukraine. Moreover, Sweden and Finland’s plans to join NATO only increase Russian export bans, and European consumers are turning to the US for supplies. The bottom line is that

US natural gas has become an international energy market, and the supply shortage is lifting worldwide prices.

In the US, natural gas is heading into the volatile hurricane season. In 2005 and 2008, Hurricanes Katrina and Rita wreaked havoc along the Louisiana coast.
The NYMEX futures delivery point is the Henry Hub in
Erath, Louisiana, along the Gulf Coast hurricane corridor. Storms in 2008 and 2005 lifted the price to $13.694, and $15.65per MMBtu, respectively. Even if the natural gas market makes it through the annual hurricane season without category four or five storms, the 2022/2023 winter season in worn-torn Europe will likely push prices higher, with $10+ NYMEX futures prices on the horizon.

The four reasons for higher fossil fuel prices- SPR releases are a temporary band-aid

At least four factors favor higher oil and gas prices in late May 2022:

The Biden administration’s green energy initiative favors alternative and renewable fuels while inhibiting fossil fuel production. The US energy policy since early 2021 handed the pricing power to OPEC, the international oil cartel, and Russia. After years of suffering under low prices and lower US demand because of US shale oil and gas production, OPEC+ now controls supplies and owes the US and European consumers no favors. US requests for production increases fell on deaf ears in Riyadh, Moscow, and other production capitals.
The February 4 “no-limits” agreement between China and Russia creates a bifurcation of the world’s nuclear powers, with the US and Europe on the other side. Russia’s invasion of Ukraine could lead to Chinese reunification attempts with Taiwan. Hostilities and geopolitical tensions make hydrocarbons a political tool for the Russians and allied world oil and gas producers.
The crude oil and natural gas prices have been rising despite a COVID-19 lockdown in China. When the Chinese economy reopens, the global energy demand will likely rise, putting more upside pressure on oil and gas prices. Meanwhile, a historic heatwave in India is causing increased energy demand in the world’s second-most populous country. India has not cooperated with the US and Europe with sanctions on Russia.
Even if the US were to shift back to a drill-baby-drill and frack-baby-frack approach to traditional energy production, labor shortages and higher input and equipment prices put upside pressure on production costs. Moreover, the Biden administration has doubled down on its green initiatives, so the potential for production increases remains low.

Instead of increasing production over the past months, President Biden released a historical level of crude oil from the strategic petroleum reserve. Past SPR releases have not weighed on the price in challenging times. Moreover, the US will eventually need to replace its resources, leading to buying in the oil market. The administration released 30 million barrels in early 2022 and has been releasing one million barrels per day from the SPY. The price remains around the $115 per barrel level as the SPR sales have been a short-term, ineffective band-aid. Meanwhile, crack spreads, a real-time demand indicator rose to new all-time highs in May. The level of refining margins are a warning sign that higher crude oil prices are on the horizon.

Drilling and exploration are the answer to supply-side economic woes

The Fed is increasing interest rates and reducing its balance sheet to address the highest inflation in over four decades. The central bank’s toolbox contains monetary policy tools that deal with the economy’s demand-side. In 2020, slashing interest rates and government stimulus encouraged borrowing and spending and inhibited saving.

The Fed now faces supply-side economic factors caused by the war in Ukraine, sanctions, and geopolitical bifurcation. There are few, if any, tools that can deal with the supply-side issues that will continue to fuel inflation. While core inflation data excludes food and energy, food and energy are critical inflationary factors that impact individuals and businesses. Moreover, energy is a crucial cost of goods sold input in all sectors of the economy. Therefore, the only answer to dealing with supply-side inflationary pressures in the current environment is to increase supplies. Just as the Fed woke up from its “transitory” trance, the administration will likely realize that encouraging fossil fuel exploration and drilling is the only route out of the current inflationary spiral. The US is blessed with rich oil reserves in the shale regions, Alaska, and other oil-producing areas. The Marcellus and Utica shale contains quadrillions of cubic feet of natural gas. A hostile Russia and China could cause a reversal of the current path of US energy policy. Rising oil and gas prices will eventually choke all economic growth, and the administration may have no choice but to put climate change initiatives to the side while it deals with the inflationary spiral.

XOP outperforming the stock market in 2022- The trend is your best friend

The war, rising interest rates, a strong US dollar, increasing geopolitical turmoil, and other factors have weighed on the stock market in 2022.

Source: Barchart

The S&P 500 is the most diversified US stock market index. After closing at 4,766.18 on December 31, 2021, the index was 12.8% lower at 4,158.24 on May 27.

The S&P Oil & Gas Exploration and Production ETF product (XOP) holds many of the top US companies that explore, drill, and produce crude oil and natural gas, including:

Source: Barchart

While the S&P 500 is 12.8% lower in 2022, the XOP performance has been impressive:

Source: Barchart

The XOP closed at $95.87 at the end of 2021. At the $157.04 level on May 27, the ETF was over 63.8% higher this year.

Existing oil and gas exploration, drilling, and production companies have experienced a profit bonanza in 2022, but they are struggling to meet the growing worldwide hydrocarbon requirements. The bull market in oil and gas opens the door for newcomers in exploration and drilling. Dealing with inflation requires addressing the root cause, energy shortages, and high prices. An epiphany that shifts US energy policy is the path of fighting inflation. The supply-side problems are beyond the Fed’s reach, and SPR releases are only a band-aid on a worldwide gapping ax wound.

Written By: Andrew Hecht, on behalf of Maurice Jackson of Proven and Probable.

Any investment involves substantial risks, including, but not limited to, pricing volatility, inadequate liquidity, and the potential complete loss of principal. This document does not in any way constitute an offer or solicitation of an offer to buy or sell any investment, security, or commodity discussed herein, or any security in any jurisdiction in which such an offer would be unlawful under the securities laws of such jurisdiction.

Tags #AndrewHecht, #AndyHecht, #CraftOil, #FED, #Integrous, #InvestingInEnergy, #IRS, #JuniorMining, #MauriceJackson, #Nisku, #ProvenAndProbable

Junior Mining Rover Metals

Gold Assets Could Help Secure Nation’s Shores

Post author By admin
Post date June 8, 2022

Original Source: https://www.streetwisereports.com/article/2022/06/06/gold-assets-could-help-secure-nations-shores.html

By advancing the potential of its gold projects in the Northwest Territories of Canada,

Rover Metals Corp.

(ROVR:TSX.V – ROVMF:OTCQB – 4X0:FRA)

$0.04

2022/6/8 8:23:44

Volume: 1,500
Market Cap: 6.3m
PE Ratio: -1.60
Year High: $0.12
Year Low: $0.03
Shares Out: 157,435,212
Float: 157,435,212

Institute Hold’gs:
3.30% (as of 08/31/17)
Institutions Bought Prev 3 Mo: 0

Analyst coverage

Fundamental Research Corp. — Siddharth Rajeev

Newsletter coverage

Clive Maund — CliveMaund.com

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See More Live DataRover Metals Corp., (ROVR:TSX.V; ROVMF:OTCQB; 4X0:FRA) said it is helping to assert Canada’s Arctic borders and safeguard the nation’s northern sovereignty above the 60th parallel.

Within the Arctic region’s 21 million square kilometers, eight countries — Canada, Russia, the United States, Denmark, Sweden, Finland, Norway, and Iceland — have exclusive economic rights to resources up to 200 nautical miles from their shores.

But as rising ocean temperatures disrupt shorelines and shipping routes, heavy hitters like China are eying assets and deep seaports along Canada’s Northwest Arctic Passage.

Potential at the 60th Parallel

Global gold production is expected to grow at a compound annual rate of more than 3% through 2026, with Canada being the largest contributor to the increase. Over the forecast period 2022-2026, Canadian gold mine production is expected to grow at a compound annual growth rate (CAGR) of 18.7% to reach 15.5 Moz.

But action is needed to capitalize on these trends. “If there are no new mines coming online in the Northwest Territories, the population, taxes, and government needed to assert Canada’s northern border dwindles creating a potential power vacuum in the arctic,” said Rover Metals Chief Executive Officer and Director Judson Culter.

With its strategic proximity to the key city of Yellowknife, Rover’s 100%-owned Cabin Gold asset and minority owned Up Town Gold asset could be the catalysts that build a critical mass of population, infrastructure, employment, and income, he said.

Cabin Gold Project

Cabin Gold is located 110 km northwest of the city of Yellowknife, close to hydro lines and to the Tlicho All Season Road (TASR), the newest corridor of mining infrastructure in the Northwest Territories. Two new gold mines along the TASR are scheduled to see advanced-stage mine development over the next five years: Fortune Minerals Ltd.’s (FT:TSX) NICO Project and Nighthawk Gold Corp.’s (NHK:TSX.V) Indin Lake project.

Supported by a grant from the government of the Northwest Territories’ Mining Incentive Program, under a mandate to ensure that mineral resource exploration and development continues to flourish in the north, Rover commenced Phase 3 exploration in Cabin Gold in March 2022.

“The project will be a success even if we prove up only 500,000 ounces of gold because we can do a milling offtake agreement with either Nighthawk or Fortune,” Culter said.

New drilling results are expected sometime this summer, but for now, Culter considers Sabina Gold & Silver Corp.’s (SBB:TSX; RXC:FSE; SGSVF:OTCPK) Back River project to be “the closest geological analog in terms of how we’re going to follow on our discoveries. Plus, we’re in the same neighborhood and with relatively the same type of rocks.”

Up Town Gold Project

Located on the outskirts of the city limits of the city of Yellowknife, this Archean lode-gold prospect adjoins the historic 7.2 Moz Giant Mine gold deposit and Gold Terra Resource Corp.’s (YGT:TSX.V; YGTFF:OTC; TXO:FRANKFURT) 2.2 Moz Yellowknife City Gold Project.

“We believe the Up Town Gold project has the potential for a million-plus ounces,” Culter said.

If exploration continues to be successful in proving up ounces of gold, Up Town has a high chance of resale within the next two years. Newmont Corp. (NEM:NYSE) is active in the Yellowknife area, having optioned their gold claims at the southern city limits to Gold Terra in 2021.

In addition, Culter said, “A new producing gold mine pushes the demand for new exploration and discoveries in the northern territories, paving the way for shipping and airborne logistics, new jobs, and the potential for new highways and hydro infrastructure. For every new head hired into a junior mining company, there’s a multiplier of two and a half new jobs hired into the supply chain that supports that company.”

‘We’re Pretty, Pretty Confident’

With assets in all the right places, Rover Metals is relatively under-appreciated and undervalued, Culter said.

“We’re at the very bottom of the Pierre Lassonde discovery curve, with only one direction but moving up ,” he said. “We need another $4 million or $5 million in drilling, but over the next two years, there’s critical ounces and value in our Cabin Gold project.”

The company has just raised $2 million dollars at a time when other junior miners have struggled to raise anything.

“Here’s a company with high-grade gold resources in the right neighborhood. We’re fully financed, with drill results coming, so we’re pretty, pretty confident,” Culter said. “I think investors should be taking note.”

Newsletter writer Clive Maund agreed, writing when the share price was $0.04 that Rover Metals was an immediate speculative buy. The price hovered at $0.04 on Monday.

“This, therefore, looks like a good low price to pick it up and this is said in the knowledge that it could temporarily break even lower,” he wrote. “As it is only at 4 cents now, it can’t drop much lower.”

Rover Metals has a market cap of $5.51 million and 157.44 million shares outstanding. It trades in a range of $0.12 and $0.03 over 52 weeks.

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Disclosures

1) Wendy Hubbert and Steve Sobek compiled this article for Streetwise Reports LLC and provide services to Streetwise Reports as an independent contractor/employee, respectively. They or members of their household own securities of the following companies mentioned in the article: None. They or members of their household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Rover Metals Corp. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

3) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

4) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Rover Metals Corp. and Gold Terra Resource, a company mentioned in this article.

Tags #CabinGoldProject, #JuniorMining, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, JudsonCulter, RoverMetals, ROVR

Junior Mining Metallic Group Metallic Minerals Precious Metals

Couloir Capital is Pleased to Announce It Has Published a New Research Note on Metallic Minerals Corp

Post author By admin
Post date June 7, 2022

Vancouver, British Columbia–(Newsfile Corp. – June 7, 2022) – Couloir Capital is pleased to announce it has published a new research note on Metallic Minerals Corp. (TSXV: MMG) (OTCQB : MMNGF) (“MMG” or “Company”). The update report is titled, “Inaugural Copper Resource for La Plata, Strong Drilling Results at Keno Silver.”

Report excerpt: “MMG has significantly advanced its core properties Keno Silver and La Plata, with key developments including:

Announcement of a maiden resource for the La Plata Project located in Colorado, as well as final results from the drilling campaign completed in December 2021.
Announcement of further results from the 2021 field program at Keno Silver, specifically for East Keno and Formo.

The developments, especially the inaugural resource estimate for La Plata, are catalytic events that fundamentally change aspects of our valuation thesis for MMG. With the discovery of pounds in the ground, we are able to apply a valuation of MMG that incorporates the intrinsic value of a more material asset base, reducing the risk associated with a valuation based primarily on less tangible metrics. With a resource discovery and a private placement underway, we believe MMG will look to build on recent strength and maintain momentum going into the rest of 2022.”

The report can be accessed through Couloir Capital’s portal: https://www.couloircapital.com/research-portal

About Metallic Minerals Corp.

Metallic Minerals Corp. is a growth-stage exploration company, focused on high-grade silver and gold projects in underexplored, brownfields mining districts of North America. Our objective is to create shareholder value through a systematic, entrepreneurial approach to exploration in the Keno Hill silver district, La Plata silver-gold-copper district, and Klondike gold district through new discoveries and advancing resources to development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent to Alexco Resource Corp’s operations, with nearly 300 million ounces of high-grade silver in past production and current M&I resources. In addition, exploration at the recently acquired La Plata silver-gold-copper project in southwestern Colorado is targeting a silver and gold-enriched copper porphyry and adjacent high-grade silver and gold epithermal systems. 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.

About Couloir Capital Ltd.

Couloir Capital Ltd. is an investment research firm comprised of a team of veteran investment professionals dedicated to providing world-class opportunities in the natural resource exploration and development sectors along with real and alternative asset classes and strategies.

For further information, please contact:

Rob Stitt, Managing Director, Couloir Capital Ltd.

Email: rstitt@couloircapital.com

www.couloircapital.com

Disclosure: Couloir Capital and/or affiliated companies holds shares or warrants in the Company. The warrants have an exercise price of $0.60 and expire in August 2022.

A service agreement exists between Couloir Capital and the Company.

Tags #JuniorMining, #MauriceJackson, #MetallicMinerals, #MMG, #ProvenAndProbable, Metallic Group of Companies

Breaking Exclusive Interviews Junior Mining Lion One Metals

Lion One Hits Bigly

Post author By admin
Post date June 7, 2022

I have been waiting for a couple of years to write this story. For years Lion One has been my biggest holding because the story is so simple to understand. I’ve written half a dozen pieces on the company and the last one I wrote was seven months ago. I called it, Buying Lion One is like Stealing. And few listened. The shares were $.97 at the time. Between then and now the stock has barely edged higher in spite of excellent results such as their May 31 press release showing 584 grams of gold per tonne over 0.30 meters.

I love the chat boards. You get to see just how stupid some people can be in their failed attempts to look smart. Here is what someone said on the CEO.CA Lion One board in response on May 31st.

@NabtaPlayaEgypt Tuvatu continues to be restricted to returning very narrow (1/3 meter average) high grade shoots which unless such systems are spaced relatively close en-echelon, may not be economic to mine. At the rate that drilling returns are coming in, that it could take another 2-3 years minimum to create a significant resource update.

Someone wrote me privately and asked what I thought about the comment. Here is how he posted my response.

@WisGuy1 BM response: “Absolute rubbish. There is a similar mine a stone’s throw away that has produced millions of ounces of gold of similar grade and thickness.”
(Click on images to enlarge)

Investing in Lion One at a profit is about as difficult as learning how to fall off a bike. If you can handle that, you can make money on Lion One, because there is an identical age and grade alkaline deposit located about 40 km to the Northeast called the Vatukoula Gold mine. In production from 1932 the Vatukoula mine has produced over seven million ounces of gold and shows a resource of an additional four million ounces.

The deposits are identical in age, grade and type of deposit. So anyone saying you can’t mine a 584-gram intercept of gold over 0.30 meters is blowing smoke.

Alkaline deposits tend to be big. Lion One’s Tuvatu project can easily be as big as Vatukoula. But to satisfy the doubting Thomas of the world Lion One released a world class intercept on June 6, 2022 showing 75.9 meters of 20.86 g/t gold. That’s a 1583 gram/meter hole similar to the home run first hole of Newfound Gold in 2020 with 19.0 meters of 92.86 g/t gold giving a 1764 gram/meter hole.

Lion One is fully permitted to go into production. They built their own assay lab and it is run to industry standards so assays that might take 2-3 months in Canada take 2-3 days in Fiji. Lion One plans on production to begin in Q3/Q4 of 2023.

Lion One has a current 43-101 showing just over 910,000 ounces of gold at an average of 5.61 g/t to 5.8 g/t. I had a short conversation with Wally Berukoff about the production plans. He is shooting for annual numbers of around 100,000 ounces of gold. That is pretty much the magic number. The market will not take any company seriously below that number.

Because of silly Covid restrictions put in by the government of Australia and Fiji, Lion One has been pretty much delayed for two years. The stock hit a high of $2.67 in July of 2020 based on excellent results before drifting lower to a low a month ago of $.88. I’ll stand by every word I said in my piece from November of last year. Buying Lion One is like stealing. They have the goods.

Wally realized the project could not be run remotely from Perth so last year he put in a brilliant on site team in Fiji. If you watch this video, I think you will agree with me in saying that this is one of the most professional teams I have ever seen in twenty years.

Currently the company has about $34 million in cash in the treasury. They have six drills turning with two more on order. The incredible latest hole shows they have tapped into a feeder pipe. They will continue to drill to upgrade and increase the near surface gold resource for near term production but I expect them to pincushion the feeder to determine all its limits.

The worst thing that can happen to any stock is for shareholders to become bored. Once they do, they bail out at the first opportunity to break even. While the stock going up 17.5% on the news with over two million shares trading on the news, I suspect that was a lot of weak hands selling. Look for a couple of quiet days without a lot of price movement and then for the shares to go higher, perhaps much higher. The incredible results of the past two years tell me the high of $2.67 will be revisited soon. Lion One is still cheap.

Until the news of the incredible latest intercept hit the market my personal shares have been underwater for most of the last two years. My average price was $1.18 and it took this news to bring me into profit. But I have believed this story since I first heard it and continued to add to my position as the price dropped. I have never sold a single share and right now I am really glad.

Lion One is an advertiser. I love the company; I love the management and the team that Wally has put together. It will be a mine. It will be profitable and it will be a hell of a lot bigger than anyone imagines today. I expect majors will be sniffing around soon wanting to pick up a piece of it while it’s still cheap. That isn’t going to last long. As with the case of Newfound Gold, intercepts similar to this do not occur in a vacuum. There will be more record-breaking hits in the future.

I own shares and have participated in PPs in the past and will in the future. I am biased so do your own due diligence.

Lion One Metals
LIO-V $1.34 (Jun 06, 2022)
LOMLF OTCQX 156 million shares
Lion One website

###

Bob Moriarty
President: 321gold
Archives

321gold Ltd

Tags #BobMoriarty, #JuniorMining, #LIO, #LionOneMetals, #MauriceJackson, #ProvenAndProbable, #QuintonHennigh, #Tuvatu, 321gold

Junior Mining Labrador Gold Precious Metals Uncategorized

Labrador Gold Intersects 6.22 G/T Gold Over 4 Metres in First Hole at Golden Glove Including 10.31 G/T Over 2 Metres

Post author By admin
Post date June 7, 2022

Figure 1.

TORONTO, June 07, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce results from seven drill holes, including the first hole drilled at the Golden Glove Target in the south end of its 100% owned Kingsway project near Gander, Newfoundland. These holes were drilled as part of the Company’s ongoing 100,000 metre drill program at Kingsway.

Hole K-22-150 intersected 6.22 g/t Au over 4 metres that included 10.31 g/t Au over 2m at a vertical depth of 246 metres. This intersection is located approximately 160 m south of the Golden Glove discovery outcrop where six grab samples, three of which contained visible gold, assayed between 2.99 g/t and 338.1 g/t Au (see news release dated September 21, 2021). This intersection at Golden Glove is the fourth of four targets drilled by LabGold to return significant gold intercepts.

While there are many similarities between the mineralization observed at Golden Glove and that at Big Vein, a significant difference is that while Big Vein occurs on the west side of the Appleton Fault Zone, Golden Glove is situated on the East Side. This is the first drilling on the east side of the fault at the Kingsway Property.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%2522Labrador%253BFault_(geology)%253BGold%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%252256728853-316a-31bc-a98d-be02627be93e%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

Six holes drilled at the Pristine target intersected near surface gold mineralization over significant widths in the Doyle Zone, including 1.86 g/t Au over 8m in hole K-22-144 and 1.75 g/t over 20.2m that included 2.76 g/t Au over 6.2m in Hole K-22-139.

“We are very pleased with the results from the first hole drilled at Golden Glove especially considering that the intersection is approximately 160m south of the discovery outcrop. This indicates excellent potential for the area between this hole and the outcrop and we are certainly looking forward to the results from the remaining five holes drilled there to date,” said Roger Moss, President and CEO of LabGold. “The continued near surface gold intercepts extending the strike length of the Doyle Zone are nice to see especially those with wider intersections. We are encouraged by the successful drilling of our four initial targets, all of which have delivered significant gold mineralization. We will continue to test the new targets developed along the Appleton Fault Zone through the summer, starting with the CSAMT target approximately eight kilometres northeast of Big Vein.”

Hole ID	From (m)	To (m)	Interval (m)	Au (g/t)	Zone
K-22-152	66	70.24	4.24	1.78	Doyle
	87	90	3	2.24
	93	96	3	1.17
K-22-150	348	352	4	6.22	Golden Glove
including	348	350	2	10.31
K-22-149	13	14	1	1.27	Doyle
K-22-146	57	57.95	0.95	1.12	Doyle
K-22-144	64	72	8	1.86	Doyle
including	69	71	2	3.32
K-22-143	92.2	93	0.8	1.42	Doyle
K-22-139	57.2	77.4	20.2	1.75	Doyle
including	62.2	68.4	6.2	2.76
	89.4	92.4	3	1.59

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

Hole number	Easting	Northing	Elevation	Azimuth	Dip	Depth
K-22-152	661804	5436020	54	300	50	221
K-22-150	660539	5431776	48	265	45	452.57
K-22-149	661804	5436021	62	260	45	227
K-22-146	661803	5436032	64	260	62	176
K-22-144	661808	5436070	65	280	45	200.27
K-22-143	661801	5436034	54	260	45	299.06
K-22-139	661802	5436033	54	300	45	215

Table 2. Drill hole collar details

Figure 1. Doyle Zone plan map.

https://www.globenewswire.com/NewsRoom/AttachmentNg/5909d35d-b977-40ba-81da-f664988cc5e1

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.

In early 2020, Labrador Gold acquired the option to earn a 100% interest in the 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 50,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone following encouraging early results. The Company has approximately $28 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the Florence Lake greenstone belts 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 25^th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

The Company has 159,199,026 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.

Tags #BigVein, #JuniorMining, #KingswayGoldProject, #LAB, #LabradorGold, #MauriceJackson, #MilesFranklin, #PreciousMetals, #ProvenAndProbable, #RogerMoss

Base Metals Breaking Energy Exclusive Interviews Junior Mining Metallic Group Metallic Minerals Precious Metals

Metallic Minerals | High-Grade Silver, Keno Style Intercepts

Post author By admin
Post date June 6, 2022

Metallic Minerals: TSX.V: MMG | OTC: MMNGF)

Website: https://metallic-minerals.com/

Corporate Presentation: https://metallic-minerals.com/investors/presentations/

Tags #GregJohnson, #MauriceJackson, #MetallicGroup, #MetallicMinerals, #MMG, #ProvenAndProbable, #ScottPetsel, maurice jackson

Junior Mining Lion One Metals Precious Metals Uncategorized

Lion One Discovers Major New Gold Feeder Structure – 20.86 G/t Au over 75.9 Meters at Depth Beneath the Current Resource at Tuvatu, Fiji

Post author By admin
Post date June 6, 2022

North Vancouver, British Columbia–(Newsfile Corp. – June 6, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is delighted to announce the discovery of a major new feeder structure at its Tuvatu Alkaline Gold Project in Fiji. Hole TUG-141, targeting a complex network of high-grade structures called the 500 Zone, has encountered the longest high-grade intercept yet recorded at Tuvatu, 20.86 g/t Au over 75.9m, including 43.62 g/t Au over 30.0m which includes 90.35 g/t Au over 7.2m. The new discovery is located at depth beneath the current resource fully within the permit boundaries of the Tuvatu mining lease.

High-grade intercepts from TUG-141 include:

20.86 g/t Au over 75.9m from 443.4-519.3m
including 35.25 g/t Au over 37.5m from 471.3-508.8m
including 43.62 g/t Au over 30.0m from 477.6-507.6m
including 90.35 g/t Au over 7.2m from 494.4-501.6m
and notable individual high-grade assay intervals including:

– 138.15 g/t Au over 0.30m from 450.9-451.2m

– 396.16 g/t Au over 0.30m from 479.1-479.4m

– 103.54 g/t Au over 0.30m from 498.6-498.9m

– 340.07 g/t Au over 0.30m from 498.9-499.2m

– 600.42 g/t Au over 0.30m from 499.5-499.8m

– 244.37 g/t Au over 0.30m from 502.5- 503.1m

– 230.18 g/t Au over 0.30m from 507.3-507.6m

– 105.58 g/t Au over 0.30m from 518.7-519.0m

Lion One CEO, Walter Berukoff, stated: “Like the initial discovery of the high-grade 500 Zone drilled two years ago, I believe this new robust high-grade gold feeder mineralization encountered by hole TUG-141 represents a substantial discovery for Lion One. The notable high grades and continuity of mineralization of this intercept demonstrate Tuvatu’s potential to become a large-scale, high-grade underground gold mine. I have long encouraged our team to find that “gold room” at Tuvatu, and hole TUG-141 leads me to believe they have found it. We have only to look at other notable large alkaline Au deposits as direct analogues to better understand what this latest discovery tells us, and it is clear that the discovery of a major high-grade feeder such as this should be viewed as very promising. I am confident that Tuvatu will one day fall in the ranks of notable multi-million ounce Au deposits such as Porgera and Vatukoula. I commend our team on this truly outstanding discovery and I look forward to continued successful execution of both our exploration strategy to realize growth at Tuvatu and our development strategy targeting the commencement of gold production in the second half of 2023.”

Lion One Senior VP of Exploration, Sergio Cattalani, commented: “The mineralized intercepts reported by TUG-141 represent a highly significant development. The grades and continuity observed by the intercepts in hole TUG-141 are of a magnitude not previously documented at Tuvatu, and highlights the largely untapped potential of this deposit. The significance of having identified what may be a new principal feeder conduit for Tuvatu confirms the model that has driven this deep exploration program since the discovery of hole TUDDH-500 in July 2020. Our immediate priority is to follow up of this significant discovery with additional drilling in what remains a relatively poorly drilled portion of the Tuvatu system. Lion One, is now more than ever, convinced of the potential of Tuvatu to become a prominent, multi-million ounce Au deposit at the top of the Au grade distribution worldwide.”

Lion One Technical Advisor, Quinton Hennigh, commented: “Alkaline gold systems tend to be deep-rooted and very structurally complex. Exploring them can be analogous to drilling a tree from the top down. In the shallow part of the system, one finds the upper “branches,” or gold-bearing lodes, but as exploration persists to depth, bigger and bigger “branches,” or lodes, are encountered ultimately leading to the “trunk,” the feeder. The way this remarkable discovery at Tuvatu has unfolded is quite similar to the experience at Porgera, where after approximately ten years of diligent drilling, the high-grade Romane Fault Zone was discovered beneath a myriad of smaller lodes. What is most exciting about this discovery is that now that we have a clear idea where the deep fluid-tapping conduit of this system is located, we can effectively chase it to depth, and alkaline gold systems are known to persist to great depths, sometimes as deep as 2 km. Considering this intercept is only approximately 500m below surface, this discovery is wide open for growth at depth.”

TUG-141 was drilled in the area between modelled 500 Zone lodes 500A, 500C and 500F (Figure 1) where it intersected continuous high-grade Au mineralization grading 20.86 g/t Au over 75.9m that is predominantly hosted by intensely altered, fractured and brecciated andesite. The highest grade core of this zone is characterized by hydrothermal breccia displaying extreme silicification, potassic alteration and sulfidation with regular occurrences of visible gold (Figure 2). In addition, the presence of abundant roscoelite (a vanadium mica mineral) is very encouraging and is a mineral synonymous with the high-grade zones of world-class alkali gold systems such as Cripple Creek in Colorado and Porgera in Papua New Guinea. Some fragments within portions of this breccia are visibly milled, or rounded, indicating vigorous fluid flow. Observations of fracture patterns and textures ranging from incipient and in-situ to full-on brecciation (Figure 2) point to this zone being a dilational breccia that likely formed along a major structural intersection where stresses were being released at the time of mineralization. Rapid depressurisation accompanying seismic movement along such a dilational zone would allow rapid ascent of hydrothermal fluids resulting in silicification, K-metasomatism, sulfidation and rapid precipitation of Au. Textures of minerals observed in veins and open spaces is consistent with a rapid depositional regime.

Lion One is concurrently undertaking a two-pronged exploration drill campaign: 1) shallow infill drilling to enhance definition of its current resource in preparation for mine planning, and 2) deep drilling focussed on better understanding the geometry and extent of the underlying high-grade feeder network. As part of the latter program, hole TUG-141 targeted the upper portion of the 500 Zone at depths between approximately 450-550m where it is projected to connect with the base of lodes making up the Inferred resource. As discussed above, TUG-141 drilled into a very wide and exceptionally high-grade zone, 20.86 g/t Au over 75.9m, cored by hydrothermal breccia (Figure 2). Such a zone of extreme fracturing and brecciation has never before been observed at Tuvatu. It is significant to note that the bulk of this mineralized interval is hosted within andesite rather than by intrusive monzonite, the typical host rock for many lodes at Tuvatu. The significance of this observation has yet to be determined.

Furthermore, it is also notable that the nearest drill holes to TUG-141 are TUG-135 (70m below), TUG-136 (45m to the E), and TUG-138 (60m to the W), indicating that there is considerable space for a substantial increase in the ultimate size of the feeder conduit. All three of these holes have returned previously reported bonanza grade mineralization, similar in tenor and texture to that in TUG-141, including:

24.92 g/t Au over 3.70m from 415.7-419.4m in hole TUG-135 including 159.3 g/t Au over 0.30m;

87.83 g/t Au over 1.5m from 445.1-446.6m in hole TUG-136 including 108.41 g/t Au over 0.60m;

and 23.14 g/t Au over 3.0m from 571.5-574.5m in hole TUG-138 including 118.6 g/t Au over 0.30m.

The area remains open at depth. This target has now become of utmost importance for follow up drilling.

In addition to the impressive intercept of 20.86 g/t Au over 75.9m discussed above, hole TUG-141 encountered numerous other significant mineralized intercepts both above and below this interval including:

Above the high-grade intercept

3.93 g/t Au over 5.7m from 101.7-107.4m including 12.17 g/t Au over 0.30m
4.48 g/t Au over 10.2m from 109.8-120.0m including 38.27 g/t Au over 0.30m
10.98 g/t Au over 1.5m from 291.3-292.8m including 17.20 g/t Au over 0.60m
5.63 g/t Au over 19.2m from 311.7-330.9m including 20.50 g/t Au over 3.00m from 322.2-325.2m, which includes 71.01 g/t Au over 0.30m and 13.75 g/t Au over 0.60m
3.33 g/t Au over 4.50m from 366.3-370.8m including 7.40 g/t Au over 1.20m
11.38 g/t Au over 2.1m from 380.7-382.8m including 22.30 g/t Au over 0.90m
1.97 g/t Au over 13.5m from 391.8-405.3m including 15.25 g/t Au over 0.30m
2.82 g/t Au over 3.90m from 425.1-429.0m including 8.47 g/t Au over 0.30m

Below the high-grade intercept

3.08 g/t Au over 1.50m from 524.1-525.6m including 7.50 g/t Au over 0.30m

In aggregate, all mineralized intercepts reported from hole TUG-141 total 1,909 g/t Au-meters.

Complete results, received to date, from hole TUG-141 are summarized below in Table 1. This is the first drill hole in this part of the Tuvatu alkaline gold system, and as such, orientation and true thicknesses of mineralized intercepts discussed above are not known at this time. Further drilling is required to better understand this new discovery. At the time of writing, hole TUG-141 is still being drilled, and is currently >600m in depth with other mineralised structures yet to be assayed.

Figure 1. Plan view (upper) and vertical section looking E (lower) of the trace of TUG-141 and selected drill holes relative to the 500 Zone lodes modeled to date. TUG-141 was drilled from underground along the Tuvatu exploration decline. The traces of known lodes UR2 and UR4, and modelled lodes of the 500 Zone feeder are shown in red.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2178/126617_fig%201ed%20lm.jpg.

Figure 2. Compilation of photographs from TUG-141. (A) Abundant visible gold grains (0.2-2mm) in highly altered potassium metasomatized groundmass and roscoelite. (B) Visible gold (~2mm grains) associated with coarse pyrite in a silicified breccia. (C & D) Intensely silicified and pyritized andesite with microfractures of visible gold (~0.5mm grains).

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2178/126617_81354d06c4e0dad0_003full.jpg.

Figure 2 (continued). (E) Vuggy breccia with coarse pyrite and silicified-sulfidized ground mass. Breccia clasts are angular to sub-rounded. (F) Coarse pyrite breccia with silicified-sulfidized ground mass. (G) Network fracture stockwork ~1-5mm veins with two generations of pyrite. The clasts are highly altered silicified andesite, with the veins containing quartz-pyrite. (H) Network fracture stockwork veins at multiple angles, with intense silicification, quartz-carbonate infill and pyrite.

To view an enhanced version of Figure 2 continued, please visit:
https://orders.newsfilecorp.com/files/2178/126617_81354d06c4e0dad0_004full.jpg.

Mineralization is observed as two generations of pyrite; an earlier bright euhedral pyrite that forms coarse crystals in the core of the veins and breccia, and a darker brownish, spongy pyrite that typically forms extremely fine-grained encrustations or overgrowths on earlier pyrite and wallrock fragments, as well as lining the edges of most veins (Figure 2). Quartz occurs commonly as bluish grey, amorphous to locally colloform silica. Open space vuggy textures are common, as are visible gold grains. Highest grades (up to 600 g/t Au) appear to be associated with an interval of intense pervasive silicification and sulfidation by up to 30% or more extremely fine-grained pyrite developed throughout the host rock, giving the rock an overall massive chocolate brown appearance (Figure 2). The intensity of replacement suggests this is a zone of very high and sustained fluid flux.

Table 1: Table showing all drilling intervals returning >0.5 g/t Au for hole TUG-141. Intervals > 3.0 g/t Au, which is the cutoff grade used for the current resource, are shown in red, and intervals >9.0 g/t Au, which is the average grade of the resource, are bolded.

Sample ID	From (m)	To (m)	Interval (m)	Grade (g/t Au)
TUG08584	71.7	72	0.3	0.96
TUG08535	101.7	102	0.3	3.96
TUG08536	102	102.3	0.3	12.17
TUG08537	102.3	102.6	0.3	5.35
TUG08538	102.6	102.9	0.3	1.42
TUG08539	102.9	103.2	0.3	3.09
TUG08541	103.5	103.8	0.3	1.19
TUG08542	103.8	104.1	0.3	8.64
TUG08543	104.1	104.4	0.3	7.67
TUG08544	104.4	104.7	0.3	7.56
TUG08545	104.7	105	0.3	7.90
TUG08546	105	105.3	0.3	3.53
TUG08548	105.6	105.9	0.3	0.60
TUG08549	105.9	106.5	0.6	4.83
TUG08452	107.1	107.4	0.3	1.42
TUG08456	109.8	110.1	0.3	15.41
TUG08457	110.1	110.4	0.3	0.74
TUG08458	110.4	110.7	0.3	1.12
TUG08459	110.7	111	0.3	5.28
TUG08460	111	111.3	0.3	0.80
TUG08462	111.6	111.9	0.3	2.66
TUG08463	111.9	112.2	0.3	1.45
TUG08464	112.2	112.5	0.3	1.22
TUG08466	112.5	112.8	0.3	1.50
TUG08467	112.8	113.1	0.3	2.67
TUG08468	113.1	113.4	0.3	3.47
TUG08469	113.4	113.7	0.3	2.92
TUG08470	113.7	114	0.3	2.93
TUG08471	114	114.3	0.3	8.74
TUG08473	114.6	114.9	0.3	7.36
TUG08474	114.9	115.5	0.6	0.90
TUG08475	115.5	115.8	0.3	7.20
TUG08476	115.8	116.1	0.3	3.14
TUG08477	116.1	116.4	0.3	0.92
TUG08479	116.7	117	0.3	3.62
TUG08481	117	117.3	0.3	15.85
TUG08482	117.3	117.6	0.3	2.06
TUG08483	117.6	117.9	0.3	1.95
TUG08484	117.9	118.2	0.3	0.58
TUG08485	118.2	118.5	0.3	5.51
TUG08486	118.5	118.8	0.3	6.35
TUG08487	118.8	119.1	0.3	38.27
TUG08488	119.1	119.4	0.3	3.02
TUG08489	119.4	119.7	0.3	1.41
TUG08490	119.7	120	0.3	2.19
TUG08494	122.4	122.7	0.3	1.35
TUG08946	213.6	213.9	0.3	2.11
TUG08947	213.9	214.2	0.3	0.97
TUG08948	214.2	214.5	0.3	3.03
TUG09446	214.5	214.8	0.3	0.82
TUG08949	214.8	215.1	0.3	1.50
TUG09401	215.1	215.4	0.3	1.61
TUG09402	215.4	215.7	0.3	1.75
TUG09407	216.9	217.2	0.3	3.22
TUG09408	217.2	217.5	0.3	0.18
TUG09409	217.5	217.8	0.3	0.62
TUG09423	222.9	223.2	0.3	0.72
TUG09432	226.5	226.8	0.3	1.41
TUG09444	233.4	233.7	0.3	1.32
TUG09445	233.7	234	0.3	3.13
TUG09447	234	234.3	0.3	6.30
TUG09448	234.3	234.6	0.3	2.08
TUG09529	274.8	275.1	0.3	0.77
TUG09536	276.6	276.9	0.3	0.59
TUG09540	277.8	278.1	0.3	0.64
TUG09566	291.3	291.6	0.3	14.77
TUG09567	291.6	291.9	0.3	4.01
TUG09568	291.9	292.2	0.3	16.55
TUG09569	292.2	292.5	0.3	17.85
TUG09570	292.5	292.8	0.3	1.75
TUG09582	299.1	299.4	0.3	2.12
TUG09583	299.4	299.7	0.3	1.94
TUG09584	299.7	300	0.3	0.63
TUG09585	300	300.3	0.3	1.13
TUG09586	300.3	300.6	0.3	0.99
TUG09587	300.6	300.9	0.3	0.79
TUG09588	300.9	301.2	0.3	4.31
TUG09591	301.8	302.1	0.3	1.58
TUG09594	302.7	303	0.3	0.92
TUG09595	303	303.3	0.3	0.78
TUG09605	308.1	308.4	0.3	1.28
TUG09614	311.7	312	0.3	1.35
TUG09616	312	312.3	0.3	2.61
TUG09617	312.3	312.6	0.3	0.08
TUG09619	313.2	313.5	0.3	4.56
TUG09620	313.5	313.8	0.3	3.54
TUG09621	313.8	314.1	0.3	2.47
TUG09622	314.1	314.4	0.3	1.65
TUG09625	315.3	315.6	0.3	1.25
TUG09626	315.6	315.9	0.3	7.71
TUG09628	316.8	317.1	0.3	0.54
TUG09629	317.1	317.4	0.3	2.57
TUG09631	317.4	317.7	0.3	1.00
TUG09633	318	318.3	0.3	1.42
TUG09634	318.3	318.6	0.3	3.11
TUG09635	318.6	318.9	0.3	5.42
TUG09636	318.9	319.2	0.3	4.25
TUG09637	319.2	319.5	0.3	7.68
TUG09638	319.5	319.8	0.3	5.78
TUG09639	319.8	320.1	0.3	0.85
TUG09641	320.4	320.7	0.3	3.19
TUG09642	320.7	321	0.3	3.49
TUG09643	321	321.3	0.3	7.93
TUG09644	321.3	321.6	0.3	2.40
TUG09645	321.6	321.9	0.3	2.04
TUG09646	321.9	322.2	0.3	7.42
TUG09647	322.2	322.5	0.3	18.75
TUG09648	322.5	322.8	0.3	12.75
TUG09650	322.8	323.1	0.3	12.55
TUG09651	323.1	323.4	0.3	15.64
TUG09652	323.4	323.7	0.3	19.67
TUG09653	323.7	324	0.3	13.55
TUG09654	324	324.3	0.3	15.18
TUG09655	324.3	324.6	0.3	11.27
TUG09656	324.6	324.9	0.3	14.62
TUG09657	324.9	325.2	0.3	71.01
TUG09658	325.2	325.5	0.3	5.61
TUG09659	325.5	326.4	0.9	0.60
TUG09660	326.4	326.7	0.3	3.97
TUG09661	326.7	327	0.3	4.93
TUG09662	327	327.3	0.3	11.64
TUG09663	327.3	327.6	0.3	15.86
TUG09667	328.5	329.4	0.9	0.98
TUG09668	329.4	329.7	0.3	2.77
TUG09669	329.7	330	0.3	2.58
TUG09670	330	330.3	0.3	6.51
TUG09671	330.3	330.6	0.3	4.28
TUG09672	330.6	330.9	0.3	6.21
TUG09694	345.3	345.6	0.3	0.60
TUG09695	345.6	345.9	0.3	4.62
TUG09696	345.9	346.2	0.3	4.07
TUG09697	346.2	346.5	0.3	1.76
TUG09699	346.8	347.1	0.3	2.13
TUG09703	348.3	348.6	0.3	33.25
TUG09704	348.6	348.9	0.3	3.52
TUG09703	348.3	348.6	0.3	33.25
TUG09707	350.1	350.4	0.3	12.62
TUG09710	351.3	351.6	0.3	3.20
TUG09711	351.6	351.9	0.3	0.51
TUG09733	366.3	366.6	0.3	1.26
TUG09734	366.6	366.9	0.3	2.37
TUG09736	367.5	367.8	0.3	0.80
TUG09737	367.8	368.1	0.3	11.02
TUG09738	368.1	368.4	0.3	7.96
TUG09739	368.4	368.7	0.3	3.68
TUG09740	368.7	369	0.3	6.95
TUG09741	369	369.3	0.3	1.82
TUG09742	369.3	369.6	0.3	1.29
TUG09744	369.9	370.2	0.3	4.11
TUG09745	370.2	370.5	0.3	3.89
TUG09746	370.5	370.8	0.3	4.54
TUG09759	380.7	381	0.3	2.63
TUG09760	381	381.6	0.6	23.15
TUG09761	381.6	381.9	0.3	20.60
TUG09762	381.9	382.2	0.3	6.13
TUG09763	382.2	382.5	0.3	3.37
TUG09764	382.5	382.8	0.3	0.64
TUG09777	391.8	392.1	0.3	1.08
TUG09778	392.1	392.4	0.3	1.08
TUG09779	392.4	392.7	0.3	0.89
TUG09781	392.7	393	0.3	0.55
TUG09783	393.6	393.9	0.3	0.65
TUG09784	393.9	394.2	0.3	0.54
TUG09785	394.2	394.5	0.3	2.90
TUG09786	394.5	394.8	0.3	2.34
TUG09787	394.8	395.1	0.3	3.74
TUG09788	395.1	395.4	0.3	2.82
TUG09789	395.4	395.7	0.3	1.98
TUG09790	395.7	396	0.3	1.55
TUG09792	396.3	396.6	0.3	2.25
TUG09794	396.9	397.2	0.3	0.44
TUG09795	397.2	397.5	0.3	1.78
TUG09796	397.5	397.8	0.3	3.20
TUG09797	397.8	398.1	0.3	1.27
TUG09798	398.1	398.4	0.3	15.27
TUG09799	398.4	398.7	0.3	2.96
TUG09801	398.7	399	0.3	5.34
TUG09802	399	399.3	0.3	2.38
TUG09803	399.3	399.6	0.3	2.93
TUG09804	399.6	400.5	0.9	4.00
TUG09805	400.5	400.8	0.3	0.68
TUG09806	400.8	401.1	0.3	2.41
TUG09807	401.1	401.4	0.3	2.06
TUG09808	401.4	401.7	0.3	1.61
TUG09809	401.7	402	0.3	1.67
TUG09811	402.3	402.6	0.3	1.46
TUG09812	402.6	402.9	0.3	0.91
TUG09814	403.2	403.5	0.3	3.71
TUG09817	403.8	404.1	0.3	0.77
TUG09819	405	405.3	0.3	1.56
TUG09811	402.3	402.6	0.3	1.40
TUG09812	402.6	402.9	0.3	0.95
TUG09814	403.2	403.5	0.3	3.57
TUG09817	403.8	404.1	0.3	0.83
TUG09819	405	405.3	0.3	1.61
TUG09824	406.8	407.1	0.3	2.78
TUG09827	408	408.3	0.3	1.21
TUG09828	408.3	408.6	0.3	0.72
TUG09829	408.6	409.2	0.6	1.14
TUG09831	409.2	409.5	0.3	3.27
TUG09832	409.5	409.8	0.3	0.90
TUG09836	410.7	411	0.3	1.86
TUG09837	411	411.3	0.3	2.11
TUG09838	411.3	411.6	0.3	3.40
TUG09839	411.6	411.9	0.3	0.70
TUG09842	412.8	413.1	0.3	0.93
TUG09843	413.1	413.4	0.3	0.76
TUG09848	416.1	417	0.9	0.63
TUG10354	418.8	419.1	0.3	0.82
TUG10355	419.1	419.4	0.3	0.65
TUG10360	420.6	420.9	0.3	0.75
TUG10361	420.9	421.2	0.3	1.05
TUG10362	421.2	421.5	0.3	1.59
TUG10363	421.5	421.8	0.3	1.23
TUG10367	422.7	423	0.3	0.68
TUG10368	423	423.3	0.3	0.72
TUG10373	425.1	425.4	0.3	2.48
TUG10374	425.4	425.7	0.3	2.83
TUG10375	425.7	426	0.3	3.52
TUG10376	426	426.3	0.3	3.77
TUG10377	426.3	426.6	0.3	8.47
TUG10378	426.6	426.9	0.3	1.64
TUG10379	426.9	427.2	0.3	1.53
TUG10381	427.2	427.8	0.6	4.11
TUG10382	427.8	428.1	0.3	1.65
TUG10383	428.1	429	0.9	0.86
TUG10387	429.9	430.2	0.3	0.72
TUG10393	433.2	433.5	0.3	2.04
TUG10394	433.5	433.8	0.3	0.85
TUG10395	433.8	434.1	0.3	0.76
TUG10408	440.4	440.7	0.3	2.36
TUG10413	443.1	443.4	0.3	1.02
TUG10414	443.4	443.7	0.3	6.82
TUG10417	444.9	445.2	0.3	17.94
TUG10418	445.2	445.5	0.3	5.83
TUG10423	447	447.3	0.3	1.16
TUG10425	448.2	448.5	0.3	4.54
TUG10426	448.5	448.8	0.3	0.76
TUG10428	450	450.3	0.3	4.94
TUG10429	450.3	450.6	0.3	1.53
TUG10431	450.6	450.9	0.3	0.97
TUG10432	450.9	451.2	0.3	138.15
TUG10434	451.5	451.8	0.3	0.76
TUG10435	451.8	452.1	0.3	1.25
TUG10436	452.1	452.4	0.3	1.35
TUG10438	452.7	453	0.3	1.65
TUG10439	453	453.3	0.3	4.70
TUG10440	453.3	453.6	0.3	2.57
TUG10441	453.6	453.9	0.3	4.99
TUG10444	454.8	455.1	0.3	14.02
TUG10445	455.1	455.4	0.3	2.07
TUG10446	455.4	455.7	0.3	1.09
TUG10447	455.7	456	0.3	1.28
TUG10448	456	456.3	0.3	2.55
TUG10453	459	460.2	1.2	1.14
TUG10454	460.2	460.8	0.6	1.00
TUG10455	460.8	462	1.2	1.74
TUG10456	462	462.3	0.3	1.28
TUG10457	462.3	462.6	0.3	24.98
TUG10458	462.6	462.9	0.3	87.13
TUG10459	462.9	463.8	0.9	11.34
TUG10461	464.4	465	0.6	0.67
TUG10463	465.9	466.2	0.3	0.91
TUG10464	466.2	466.5	0.3	1.36
TUG10466	466.5	466.8	0.3	1.27
TUG10467	466.8	467.1	0.3	1.28
TUG10468	467.1	467.4	0.3	3.79
TUG10469	467.4	467.7	0.3	20.93
TUG10470	467.7	468	0.3	20.64
TUG10471	468	468.3	0.3	19.40
TUG10473	468.6	468.9	0.3	3.46
TUG10474	468.9	469.2	0.3	2.78
TUG10475	469.2	469.5	0.3	2.10
TUG10482	471.3	471.6	0.3	0.81
TUG10483	471.6	471.9	0.3	1.03
TUG10484	471.9	472.2	0.3	6.72
TUG10485	472.2	472.5	0.3	0.88
TUG10486	472.5	472.8	0.3	1.45
TUG10487	472.8	473.1	0.3	9.05
TUG10488	473.1	473.4	0.3	1.35
TUG10490	473.7	474	0.3	0.48
TUG10492	474.3	474.6	0.3	0.78
TUG10493	474.6	474.9	0.3	1.37
TUG10494	474.9	475.2	0.3	1.43
TUG10496	475.5	475.8	0.3	1.67
TUG10497	475.8	477	1.2	1.80
TUG10498	477	477.6	0.6	2.64
TUG10500	477.6	477.9	0.3	93.49
TUG10501	477.9	478.2	0.3	1.01
TUG10502	478.2	478.5	0.3	34.17
TUG10503	478.5	478.8	0.3	94.57
TUG10504	478.8	479.1	0.3	35.04
TUG10505	479.1	479.4	0.3	396.16
TUG10506	479.4	479.7	0.3	25.06
TUG10507	479.7	480	0.3	7.09
TUG10508	480	480.3	0.3	4.06
TUG10509	480.3	480.6	0.3	31.63
TUG10510	480.6	480.9	0.3	5.3
TUG10511	480.9	481.2	0.3	114.95
TUG10512	481.2	481.5	0.3	1.90
TUG10513	481.5	481.8	0.3	0.83
TUG10514	481.8	482.1	0.3	9.99
TUG10516	482.1	482.4	0.3	0.71
TUG10517	482.4	482.7	0.3	6.64
TUG10518	482.7	483	0.3	6.05
TUG10519	483	483.3	0.3	6.64
TUG10520	483.3	483.6	0.3	2.47
TUG10521	483.6	483.9	0.3	0.93
TUG10522	483.9	484.2	0.3	5.15
TUG10523	484.2	484.5	0.3	10.90
TUG10524	484.5	484.8	0.3	14.76
TUG10525	484.8	485.1	0.3	20.24
TUG10526	485.1	485.4	0.3	21.93
TUG10527	485.4	485.7	0.3	20.79
TUG10528	485.7	486	0.3	32.89
TUG10529	486	486.3	0.3	16.13
TUG10531	486.3	486.6	0.3	2.55
TUG10532	486.6	486.9	0.3	13.04
TUG10533	486.9	487.2	0.3	5.42
TUG10534	487.2	487.5	0.3	3.95
TUG10535	487.5	487.8	0.3	4.89
TUG10536	487.8	488.1	0.3	4.24
TUG10537	488.1	488.4	0.3	4.41
TUG10538	488.4	488.7	0.3	5.21
TUG10539	488.7	489	0.3	1.80
TUG10540	489	489.3	0.3	16.42
TUG10541	489.3	489.6	0.3	7.17
TUG10542	489.6	489.9	0.3	6.47
TUG10543	489.9	490.2	0.3	4.07
TUG10544	490.2	490.5	0.3	4.75
TUG10545	490.5	490.8	0.3	4.86
TUG10546	490.8	491.1	0.3	7.13
TUG10547	491.1	491.4	0.3	11.64
TUG10548	491.4	491.7	0.3	35.68
TUG10549	491.7	492	0.3	22.53
TUG10551	492	492.3	0.3	10.72
TUG10552	492.3	492.6	0.3	25.23
TUG10553	492.6	492.9	0.3	16.77
TUG10554	492.9	493.2	0.3	20.86
TUG10555	493.2	493.5	0.3	23.61
TUG10556	493.5	493.8	0.3	5.85
TUG10557	493.8	494.1	0.3	6.41
TUG10558	494.1	494.4	0.3	4.25
TUG10559	494.4	494.7	0.3	36.13
TUG10560	494.7	495	0.3	19.66
TUG10561	495	495.3	0.3	72.65
TUG10562	495.3	495.6	0.3	241.21
TUG10563	495.6	495.9	0.3	31.77
TUG10564	495.9	496.2	0.3	51.52
TUG10566	496.2	496.5	0.3	25.17
TUG10567	496.5	496.8	0.3	100.35
TUG10568	496.8	497.1	0.3	12.86
TUG10569	497.1	497.4	0.3	4.68
TUG10570	497.4	497.7	0.3	33.81
TUG10571	497.7	498	0.3	37.11
TUG10572	498	498.3	0.3	20.74
TUG10573	498.3	498.6	0.3	26.29
TUG10574	498.6	498.9	0.3	103.54
TUG10575	498.9	499.2	0.3	340.07
TUG10576	499.2	499.5	0.3	269.25
TUG10577	499.5	499.8	0.3	600.42
TUG10578	499.8	500.1	0.3	73.02
TUG10579	500.1	500.4	0.3	13.41
TUG10581	500.4	500.7	0.3	1.85
TUG10582	500.7	501.3	0.6	13.32
TUG10583	501.3	501.6	0.3	26.54
TUG10584	501.6	501.9	0.3	9.04
TUG10585	501.9	502.2	0.3	4.79
TUG10586	502.2	502.5	0.3	3.93
TUG10587	502.5	502.8	0.3	126.85
TUG10588	502.8	503.1	0.3	361.90
TUG10589	503.1	503.4	0.3	1.95
TUG10590	503.4	503.7	0.3	3.27
TUG10591	503.7	504	0.3	32.78
TUG10592	504	504.3	0.3	23.63
TUG10596	505.2	505.5	0.3	8.07
TUG10598	505.8	506.1	0.3	18.51
TUG10599	506.1	506.4	0.3	53.78
TUG10602	506.7	507	0.3	7.50
TUG10604	507.3	507.6	0.3	234.39
TUG10605	507.6	507.9	0.3	2.22
TUG10606	507.9	508.8	0.9	0.58
TUG10612	510.3	510.6	0.3	3.37
TUG10613	510.6	510.9	0.3	1.32
TUG10614	510.9	511.2	0.3	5.53
TUG10616	511.2	511.5	0.3	24.91
TUG10617	511.5	511.8	0.3	64.47
TUG10618	511.8	512.1	0.3	72.56
TUG10619	512.1	512.4	0.3	13.35
TUG10620	512.4	512.7	0.3	2.08
TUG10621	512.7	513	0.3	1.59
TUG10622	513	513.3	0.3	0.74
TUG10623	513.3	513.6	0.3	0.94
TUG10624	513.6	513.9	0.3	0.53
TUG10625	513.9	514.2	0.3	1.17
TUG10626	514.2	514.5	0.3	23.17
TUG10627	514.5	514.8	0.3	0.85
TUG10628	514.8	515.1	0.3	2.39
TUG10629	515.1	515.4	0.3	1.03
TUG10631	515.4	515.7	0.3	0.83
TUG10632	515.7	516	0.3	1.74
TUG10633	516	516.3	0.3	3.50
TUG10634	516.3	516.6	0.3	0.59
TUG10636	516.9	517.2	0.3	0.80
TUG10637	517.2	517.5	0.3	2.99
TUG10638	517.5	517.8	0.3	0.76
TUG10639	517.8	518.1	0.3	3.34
TUG10640	518.1	518.4	0.3	8.94
TUG10641	518.4	518.7	0.3	12.80
TUG10642	518.7	519	0.3	105.58
TUG10643	519	519.3	0.3	34.42
TUG10644	519.3	519.6	0.3	0.55
TUG10645	519.6	519.9	0.3	0.80
TUG10656	522.6	522.9	0.3	0.59
TUG10657	522.9	523.2	0.3	0.88
TUG10658	523.2	523.5	0.3	0.76
TUG10659	523.5	523.8	0.3	1.09
TUG10660	523.8	524.1	0.3	0.61
TUG10661	524.1	524.4	0.3	2.11
TUG10664	525	525.3	0.3	5.56
TUG10666	525.3	525.6	0.3	7.50
TUG10667	525.6	525.9	0.3	0.87
TUG10668	525.9	526.2	0.3	0.78
TUG10693	543.9	544.2	0.3	0.63
TUG10695	544.5	544.8	0.3	0.75
TUG10696	544.8	545.1	0.3	0.59
TUG10699	545.7	546	0.3	0.81
TUG10701	546	546.3	0.3	0.63
TUG10702	546.3	546.6	0.3	0.59
TUG10706	547.5	547.8	0.3	0.52
TUG10719	554.1	554.4	0.3	0.84

Table 2: Survey details of diamond drill holes referenced in this release

Hole No	Coordinates (Fiji map grid)	RL	final depth	dip	azimuth
	N	E		m		(TN)
TUG-135	3920759	1876459	139.2	689.4	-64	149
TUG-136	3920759	1876459	139.2	617.4	-58	151
TUG-138	3920759	1876459	139.2	746.4	-64	163
TUG-141	3920759	1876459	139.2	633.0 *	-55°	162°

* Current depth, hole is still drilling

Qualified Person
In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), Sergio Cattalani, P.Geo, Senior Vice President Exploration, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.

QAQC Procedures
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its sampling, drilling, testing, and analyses. The Company utilizes its own fleet of diamond drill rigs, using PQ, HQ and NQ sized drill core rods. Drill core is logged and split by Lion One personnel on site. Samples are delivered to and analysed at the Company’s geochemical and metallurgical laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion One’s lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations. All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to 80% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10.00 g/t Au are then re-analysed by gravimetric method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and repeated until a result is obtained that is within 10% of the original fire assay run. For samples with multiple fire assay runs, the average of duplicate runs is presented. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples are sent to ALS labs in Townsville QLD and are analysed by the same methods (Au-AA26, and Au-GRA22 where applicable). ALS also analyses for 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61).

About Lion One Metals Limited
Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.

On behalf of the Board of Directors of
Lion One Metals Limited
“Walter Berukoff“
Chairman and CEO

For further information
Contact Investor Relations
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.

Tags #CanadianMining, #CanadianMiningStocks, #GoldMiningCompanies, #LIO, #LionOneMetals, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, #QuintonHennigh, #WalterBerukoff

Base Metals Energy Junior Mining

Secova Announces Appointment of New CEO to Drive Montauban Into Full Production

Post author By admin
Post date June 6, 2022

VANCOUVER, BRITISH COLUMBIA – June 2nd, 2022 – Secova Metals Corp. (“Secova” or the “Company”) (CSE: SEK, Frankfurt: N4UP, OTC: SEKZF) is pleased to announce the appointment of Mr. Jean Yves Therien as Chief Executive Officer (“CEO”) of the Company, effective immediately.

Mr. Therien has more than 12 years of senior management experience in mining and green mining technologies. Mr. Therien was instrumental in the restructuring of G.E.T.T. Gold Inc., formerly Nippon Dragon Resources Inc, a publicly traded hybrid mining and technology company where he remains as corporate development advisor. Mr. Therien maintains an extensive network of contacts in North America and around the globe. Mr. Therien received a BA Degree in Finance from UQAM.

“Jean-Yves is the right leader at the right time for Secova,” stated Mr. Paul Mastantuono, Secova’s Chief Operating Officer. Jean-Yves’s financial background and business development skills coupled with his experience in management and mining will help Secova secure and develop partnerships and strategic alliances. We believe his strong leadership experience and steadfast commitment to excellence will help Secova in bringing the Montauban Gold and Silver project into full production.

“I am very excited to be joining the Secova team,” said Jean-Yves Therien. “I strongly believe that Secova has a unique project and great business model and look forward to working closely with Paul, who will assume the role of Chief Operating Officer, in unlocking the full potential of the Montauban Gold and Silver project.

About the Company

Secova Metals Corp. is a Canadian environmentally aware resource exploration and processing company. Management has demonstrated expertise in advancing gold exploration projects into acquisition targets, most notably in the province of Quebec. Secova’s principal restoration and recovery project is the Montauban property situated in Quebec, just 80 kilometers west of Quebec City. The Company’s main exploration focus is its 100% ownership of the Eagle River project, which is adjacent to and on-trend to several gold projects in the Windfall Lake district of Urban Barry in Quebec.

Secova will use its expertise in early-stage exploration to create shareholder value by attempting to prove out and process the resource in these assets.

For further information about the Company, please visit Secova’s new website at www.secova.ca

SECOVA METALS CORP.

Mr. Paul Mastantuono,

Secova’s Chief Operating Officer,

Tel: +1 438-399-6316

Email: info@secova.ca

This press release contains “forward-looking information” that is based on the Company’s current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company’s exploration and development plans. The words “will”, “anticipated”, “plans” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward looking information.

Tags #InvestingInBatteryMetals, #JuniorMining, #MauriceJackson, #ProvenAndProbable, #Secova, #SEK

Gold Shore Resources Junior Mining Precious Metals

Goldshore Resources Drills 23.0m @ 2.57 g/t Au 200 Meters Beneath Southwest Zone and Further Defines Strike Extensions at the Moss Lake Project

Post author By admin
Post date June 6, 2022

Vancouver, British Columbia–(Newsfile Corp. – June 6, 2022) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FWB: 8X00) (“Goldshore” or the “Company“), is pleased to announce assay results from its ongoing 100,000-meter drill program at the Moss Lake Project in Northwest Ontario, Canada. Drilling is aiming to better define and expand high-grade structural zones within the Moss Lake deposit to improve the overall grade and volume beyond that of the historic Mineral Resource.

Highlights:

MMD-22-025 identified high-grade gold mineralization 200 meters beneath the previously modelled low grade Southwest Zone, implying significantly more potential in this area, with best intercepts of:

1.0m @ 8.32 g/t Au from 358.5m
23.0m at 2.57 g/t Au from 514.0m, including
- 1.55m at 32.6 g/t Au from 514.0m
MMD-22-022 extended the strike extent of the southern parallel zone by 600m with mineralized intersections within a broad low grade envelope at the end of the hole;
Gold mineralization was added to the eastern and western extents of the Main Zone, with best intercepts in MMD-22-024 adding 200m to the depth extent of of the deposit:

23.7m at 1.11 g/t Au from 472.0m, including
- 0.7m at 27.7 g/t Au from 495.0m
6.8m at 1.18 g/t Au from 571.2m

President and CEO, Brett Richards stated: “The results we are seeing with our 100,000m drilling campaign are continuing to deliver the results that prove our thesis that the Moss Lake Project is much larger along strike and at depth, and we look forward to regular drill results through the forthcoming several months. I am also proud of the team at site who have ramped up to seven drill rigs, keeping up to the current pace of data collection and analysis required to fully understand this large deposit.”

Technical Overview

Figures 1 to 3 and Table 1 summarize the significant intercepts in MMD-22-018, -022, -024 and -025. Figure 4 and Table 2 show the drill hole locations.

Table 1: Significant downhole gold intercepts

HOLE ID	FROM	TO	LENGTH (m)	TRUE WIDTH (m)	CUT GRADE (g/t Au)	UNCUT GRADE (g/t Au)
MMD-22-018	336.60	341.00	4.40	3	0.64	0.64
	365.75	377.00	11.25	8	0.63	0.63
	388.50	410.90	22.40	16	0.70	0.70
including	396.00	404.00	8.00	6	1.69	1.69
	425.35	431.75	6.40	5	0.36	0.36
	443.00	450.00	7.00	5	0.54	0.54

MMD-22-022	80.15	85.60	5.45	4	0.56	0.56
	516.55	554.30	37.75	28	0.41	0.41
including	516.55	520.50	3.95	3	1.18	1.18
	585.40	596.00	10.60	8	0.34	0.34
	599.00	601.90	2.90	2	0.32	0.32
	607.00	634.80	27.80	22	0.42	0.42
including	622.50	626.75	4.25	3	1.06	1.06

MMD-22-024	70.30	82.00	11.70	6	0.56	0.56
including	71.00	73.00	2.00	1	1.83	1.83
	140.00	145.00	5.00	3	0.50	0.50
	181.50	186.00	4.50	3	0.54	0.54
	285.70	289.00	3.30	2	0.74	0.74
	414.50	418.50	4.00	2	0.35	0.35
	472.00	495.70	23.70	15	1.11	1.11
including	495.00	495.70	0.70	0.5	27.7	27.7
	542.00	559.05	17.05	11	0.38	0.38
	571.20	578.00	6.80	4	1.18	1.18
including	574.15	577.00	2.85	2	1.67	1.67

MMD-22-025	358.50	359.50	1.00	1	8.32	8.32
	514.00	537.00	23.00	21	1.92	2.57
including	514.00	515.55	1.55	1	22.9	32.6
Intersections calculated above a 0.3 g/t Au cut off with a top cut of 30 g/t Au and a maximum internal waste interval of 10 metres. Shaded intervals are intersections calculated above a 1.0 g/t Au cut off. Intervals in bold are those with a grade thickness factor exceeding 20 gram x metres / tonne gold. True widths are approximate and assume a subvertical body.

Figure 1: Drill section through MMD-22-024 showing mineralized intercepts relative to the 2013 grade model

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/8051/126480_e7085ee294309a71_002full.jpg

Figure 2: Drill section through MMD-22-022 showing mineralized intercepts relative to the 2013 grade model

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/8051/126480_e7085ee294309a71_003full.jpg

Figure 3: Drill section through MMD-22-025 showing mineralized intercepts relative to the 2013 grade model

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/8051/126480_e7085ee294309a71_004full.jpg

Figure 4: Drill plan showing the drill holes relative to the 2013 resource model and the new parallel zones

To view an enhanced version of this graphic, please visit:
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Table 2: Location of drill holes in this press release

HOLE	EAST	NORTH	RL	AZIMUTH	DIP	EOH
MMD-22-018	668584	5378992	427	155°	-60°	749.0m
MMD-22-022	668363	5378756	433	135°	-50°	644.0m
MMD-22-024	669411	5379553	427	155°	-60°	611.0m
MMD-22-025	668213	5378601	440	135°	-50°	542.0m
Approximate collar coordinates in NAD 83, Zone 15N

Drilling has focused in the most accessible areas as we seek to protect long term road access during a very wet Spring Break Up following the coldest and snowiest winter in the last decade.

MMD-22-022 and -025 tested the 500 meter gap between the Main Zone and Southwest Zone, and highlighted the potential to increase both the grade and volume of mineralization in this previously untested area. The intercept in MMD-22-024 is believed to represent a 600 meter strike extension of the southern parallel structure, high grade zone at the end of MMD-22-025 represents a 200 meter down dip extension of the Southwest Zone.

Both MMD-22-022 and -025 were drilled by a smaller drill rig with limited depth capacity and holes were ended prior to exiting the altered diorite sequence. Follow up drilling is underway to trace mineralization both along strike and up dip and to test the full thickness of the altered diorite body.

MMD-22-018 and MMD-22-024 drilled the western and eastern margin of the Main Zone, respectively. MMD-22-024, in particular, targeted the previously untested volume below the 200mRL and extended the depth extent of the model by 200m to the 400mRL.

Pete Flindell, VP Exploration for Goldshore, said “These mineralized intercepts highlight the potential to expand the volume of +1 gt Au mineralization in the area between the Main and Southwest Zones, which will benefit the Mineral Resource and open pit economics. Ongoing drilling is testing this zone at shallower levels and will more completely test the width of the zones. Results are expected by July. Meanwhile, we are pleased that with seven rigs on site, we are achieving our targeted monthly drill rate of over 10,000 meters per month, which will help us to complete the infill and step out drill program this year.”

Analytical and QA/QC Procedures

All samples were sent to ALS Geochemistry in Thunder Bay for preparation and analysis was performed in the ALS Vancouver analytical facility. ALS is accredited by the Standards Council of Canada (SCC) for the Accreditation of Mineral Analysis Testing Laboratories and CAN-P-4E ISO/IEC 17025. Samples were analyzed for gold via fire assay with an AA finish (“Au-AA23”) and 48 pathfinder elements via ICP-MS after four-acid digestion (“ME-MS61”). Samples that assayed over 10 ppm Au were re-run via fire assay with a gravimetric finish (“Au-GRA21”).

In addition to ALS quality assurance / quality control (“QA/QC”) protocols, Goldshore has implemented a quality control program for all samples collected through the drilling program. The quality control program was designed by a qualified and independent third party, with a focus on the quality of analytical results for gold. Analytical results are received, imported to our secure on-line database and evaluated to meet our established guidelines to ensure that all sample batches pass industry best practice for analytical quality control. Certified reference materials are considered acceptable if values returned are within three standard deviations of the certified value reported by the manufacture of the material. In addition to the certified reference material, certified blank material is included in the sample stream to monitor contamination during sample preparation. Blank material results are assessed based on the returned gold result being less than ten times the quoted lower detection limit of the analytical method. The results of the on-going analytical quality control program are evaluated and reported to Goldshore by Orix Geoscience Inc.

Wesdome Share Issuance

Goldshore announces it has issued 8,333,333 milestone shares to Wesdome Gold Mines Ltd. (“Wesdome“) at a deemed price of C$0.60 per share pursuant the asset purchase agreement dated January 26, 2021 whereby Goldshore acquired a 100% interest in the Moss Lake gold project located in Ontario, Canada.

This issuance increases Wesdome’s holding in Goldshore to 38,418,333 shares or approximately 27% of the Company’s total outstanding share capital of 142,276,603 shares. The shares issued to Wesdome are subject to escrow in accordance with the policies of the TSX Venture Exchange.

About Goldshore

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

About the Moss Lake Gold Project

The Moss Lake Gold Project is located approximately 100 km west of the city of Thunder Bay, Ontario. It is accessed via Highway 11 which passes within 1 km of the property boundary to the north. The Moss Lake Gold Project covers 14,292 hectares and consists of 282 unpatented and patented mining claims.

Moss Lake hosts a number of gold and base metal rich deposits including the Moss Lake Deposit, the East Coldstream Deposit (Table 3), the historically producing North Coldstream Mine (Table 4), and the Hamlin Zone, all of which occur over a mineralized trend exceeding 20 km in length. A historical preliminary economic assessment was completed on Moss Lake in 2013 and published by Moss Lake Gold¹. A historical mineral resource estimate was completed on the East Coldstream Deposit in 2011 by Foundation Resources Inc^2,3. In addition to these zones, the Moss Lake Gold Project also hosts a number of under-explored mineral occurrences which are reported to exist both at surface and in historically drilled holes. The Moss Lake Deposit is a shear-hosted disseminated-style gold deposit which outcrops at surface. It has been drilled over a 2.5 km length and to depths of 300 m with 376 holes completed between 1983 and 2017. The last drilling program conducted in 2016 and 2017 by Wesdome, which consisted of widely spaced holes along the strike extension of the deposit was successful in expanding the mineralized footprint and hydrothermal system 1.6 km to the northeast. Additionally, the deposit remains largely open to depth. In 2017, Wesdome completed an induced polarization survey which traced the potential extensions of pyrite mineralization associated with the Moss Lake Deposit over a total strike length of 8 km and spanning the entire extent of the survey grids.

The East Coldstream Deposit is a shear-hosted disseminated-style gold deposit which locally outcrops at surface. It has been drilled over a 1.3 km length and to depths of 200 m with 138 holes completed between 1988 and 2017. The deposit remains largely open at depth and may have the potential for expansion along strike. Historic drill hole highlights from the East Coldstream Deposit include 4.86 g/t Au over 27.3 m in C-10-15.

The historically producing North Coldstream Mine is reported to have produced significant amounts of copper, gold and silver⁴ from mineralization with potential iron-oxide-copper-gold deposit style affinity. The exploration potential immediately surrounding the historic mining area is not currently well understood and historic data compilation is required.

The Hamlin Zone is a significant occurrence of copper and gold mineralization, and also of potential iron-oxide-copper-gold deposit style affinity. Between 2008 and 2011, Glencore tested Hamlin with 24 drill holes which successfully outlined a broad and intermittently mineralized zone over a strike length of 900 m. Historic drill hole highlights from the Hamlin Zone include 0.9 g/t Au and 0.35% Cu over 150.7 m in HAM-11-75.

The Moss Lake, East Coldstream and North Coldstream deposits sit on a mineral trend marked by a regionally significant deformation zone locally referred to as the Wawiag Fault Zone in the area of the Moss Lake Deposit. This deformation zone occurs over a length of approximately 20 km on the Moss Lake Gold Project and there is an area spanning approximately 7 km between the Moss Lake and East Coldstream deposits that is significantly underexplored.

Table 3: Historical Mineral Resources^1,2,3

	INDICATED	INFERRED
Deposit	Tonnes	Au g/t	Au oz	Tonnes	Au g/t	Au oz
Moss Lake Deposit¹ (2013 resource estimate)
Open Pit Potential	39,795,000	1.1	1,377,300	48,904,000	1.0	1,616,300
Underground Potential	–	–	–	1,461,100	2.9	135,400
Moss Lake Total	39,795,000	1.1	1,377,300	50,364,000	1.1	1,751,600

East Coldstream Deposit² (2011 resource estimate)
East Coldstream Total	3,516,700	0.85	96,400	30,533,000	0.78	763,276

Combined Total

43,311,700

1.08

1,473,700

80,897,000

0.98

2,514,876

Notes:

(1) Source: Poirier, S., Patrick, G.A., Richard, P.L., and Palich, J., 2013. Technical Report and Preliminary Economic Assessment for the Moss Lake Project, 43-101 technical report prepared for Moss Lake Gold Mines Ltd. Moss Lake Deposit resource estimate is based on 0.5 g/t Au cut-off grade for open pit and 2.0 g/t Au cut-off grade for underground resources.

(2) Source: McCracken, T., 2011. Technical Report and Resource Estimate on the Osmani Gold Deposit, Coldstream Property, Northwestern Ontario, 43-101 technical report prepared for Foundation Resources Inc. and Alto Ventures Ltd. East Coldstream Deposit resource estimate is based on a 0.4 g/t Au cut-off grade.

(3) The reader is cautioned that the above referenced “historical mineral resource” estimates are considered historical in nature and as such is based on prior data and reports prepared by previous property owners. A qualified person has not done sufficient work to classify the historical estimates as current resources and Goldshore is not treating the historical estimates as current resources. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the historical estimate on the Moss Lake Gold Project can be classified as a current resource. There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability. Even if classified as a current resource, there is no certainty as to whether further exploration will result in any inferred mineral resources being upgraded to an indicated or measured mineral resource category.

Table 4: Reported Historical Production from the North Coldstream Deposit⁴

Deposit	Tonnes	Cu %	Au g/t	Ag	Cu lbs	Au oz	Ag oz
Historical Production	2,700,0000	1.89	0.56	5.59	102,000,000	44,000	440,000

Note:

(4) Source: Schlanka, R., 1969. Copper, Nickel, Lead and Zinc Deposits of Ontario, Mineral Resources Circular No. 12, Ontario Geological Survey, pp. 314-316.

Peter Flindell, MAusIMM, MAIG, Vice President – Exploration of the Company, a qualified person under NI 43-101 has approved the scientific and technical information contained in this news release.

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

For More Information – Please Contact:

Brett A. Richards
President, Chief Executive Officer and Director
Goldshore Resources Inc.

P. +1 604 288 4416 M. +1 905 449 1500
E. brichards@goldshoreresources.com
W. www.goldshoreresources.com

Facebook: GoldShoreRes | Twitter: GoldShoreRes | LinkedIn: goldshoreres

Cautionary Note Regarding Forward-Looking Statements

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

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

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

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Tags #BrettRichards, #CanadianMining, #CanadianMiningStocks, #GoldShoreResources, #GSHR, #JuniorMining, #MauriceJackson, #ProvenAndProbable

Base Metals Energy Junior Mining Precious Metals

Peter Marrone Appointed to the Position of Senior Corporate Advisor to Eloro Resources Ltd.

Post author By admin
Post date June 6, 2022

TORONTO, June 06, 2022 (GLOBE NEWSWIRE) — Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro” or the “Corporation”) is pleased to announce that Mr. Peter Marrone, a shareholder of Eloro, has agreed to serve as an independent advisor to provide support and strategic advice to management on matters of project advancement and business development in relation to its Iska Iska project.

Peter Marrone is Executive Chairman of Yamana Gold Inc., which he founded in 2003 and which recently announced that it is to be acquired by Gold Fields Limited, a combination that creates a world-class, globally diversified company with regional relevance across premier, rules-based mining jurisdictions that is underpinned by low cost, long life mines. Mr. Marrone has a long track record of successful mining start-ups and investments with more than 35 years of mining, business and capital markets experience. Mr. Marrone also currently sits on the board of directors, and is one of the founders, of Aris Gold Corporation which holds one of the best portfolios of producing and development stage assets in Colombia. Mr. Marrone has also been the head of investment banking at a major Canadian investment bank and before that practised law in Toronto with a strong focus on corporate law, securities law and international transactions.

“I am extremely pleased to welcome Mr. Peter Marrone as a Senior Corporate Advisor”, said Eloro Chairman and C.E.O. Mr. Tom Larsen. “Peter brings valued knowledge and experience that will be helpful to our management in relation to all aspects of Eloro’s operations, capital markets efforts and strategic avenues for development and realization of significant value from our highly prospective Iska Iska tin-silver polymetallic project in Bolivia. With his proven success as the founder of companies and his outstanding track record in developing and advancing exploration projects, and realizing value from strategic efforts, it is clearly a benefit for Eloro and its shareholders and I very much look forward to working with him.”

Peter Marrone commented: “I am impressed with the size and scale of Iska Iska which should be developed in time as a world class tin-silver deposit with large scale production, all of which coincides with a time when tin in particular is in high demand and silver is a necessary component for decarbonization. The tin market is intriguing to me. It is poised for what appears to be a clear upward path for demand and price. Eloro has built a very strong management team that is continuing to rapidly advance Iska Iska with major milestones, including the inaugural National Instrument 43-101 mineral resource expected in Q3 2022. As a shareholder, I have become impressed with the project and management. Informally, I have been consulted from time to time by management and I look forward to continuing to provide strategic advice to management and to CEO Tom Larsen and Executive VP Exploration Dr. Bill Pearson, P.Geo., in particular. Interestingly, Bill has known me for many years and has an impressive resume of quality geological discoveries that now includes Iska Iska which is likely the crowning glory of an illustrious career. Simply put, Iska Iska is a world-class project and I look forward to helping management to increase value for Eloro shareholders.”

About Eloro Resources Ltd.

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec. Eloro has an option to acquire a 99% interest in the highly prospective Iska Iska Property, which can be classified as a polymetallic epithermal-porphyry complex, a significant mineral deposit type in the Potosi Department, in southern Bolivia. A NI 43-101 Technical Report on Iska Iska, which was completed by Micon International Limited, is available on Eloro’s website and under its filings on SEDAR. Iska Iska is a road-accessible, royalty-free property. Eloro also owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Pan American Silver’s La Arena Gold Mine. La Victoria consists of eight mining concessions and eight mining claims encompassing approximately 89 square kilometres. La Victoria has good infrastructure with access to road, water and electricity and is located at an altitude that ranges from 3,150 m to 4,400 m above sea level.

For further information please contact either Thomas G. Larsen, Chairman and CEO or Jorge Estepa, Vice-President at (416) 868-9168.

Information in this news release may contain forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Corporation’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Corporation. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

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

Tags #ELO, #EloroResources, #InvestingInBatteryMetals, #JuniorMining, #MauriceJackson, #ProvenAndProbable, #ThomasLarsen

FOUNDATIONAL READING

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Tag: #MauriceJackson

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Secova Announces Appointment of New CEO to Drive Montauban Into Full Production

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Peter Marrone Appointed to the Position of Senior Corporate Advisor to Eloro Resources Ltd.