Silver is a precious metal that has been used for thousands of years in various forms of currency, jewelry, and industrial applications. However, the demand for silver has increased in recent years due to its use in new technologies such as Electric cars, solar panels and electronic devices. As a result, this raises concerns about the possibility of a silver deficit, where demand for the metal exceeds supply. This raises the question of whether or not a silver deficit would have any significant impact on the global economy and the price of silver.
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Prices of silver could hit a nine-year high of $30 per ounce this year — possibly outpacing gold prices.
The last time spot silver touched $30 levels per ounce was in February 2013, according to closing price data from Refinitiv.
Insufficient supplies of silver as well as its tendency to be a better performer than gold in periods of high inflation are key drivers supporting the outlook, analysts told CNBC.
“Silver has historically delivered gains of close to 20% per annum in years inflation is high. Given that track record, and how cheap silver remains relative to gold, it wouldn’t surprise to see silver head towards $30 per ounce this year, though that will likely offer significant resistance,” said Janie Simpson, managing director at ABC Bullion.
Spot silver prices notched a record high of $49.45 in 1980 against the backdrop of a 13.5% inflation rate, up from around $4 in 1976, when the rate of inflation was cooler at 5.7%.
The precious metal last traded $24.02 per ounce, against the backdrop of an inflation rate of 6.5%.
Silver shortage
“Silver is in a shortage… and there is a notable drawdown in the available physical stocks held in New York and London’s physical hubs, more so than seen in gold,” said Nicky Shiels, head of metals strategy at precious metals company MKS PAMP.
Shiels added that silver is expected to post deficits of more than 100 million ounces over the next five years, with industrial demand spurring the tight supply.
“The largest segment of silver demand is industrial, [which equates] to almost 50% of total demand,” she said, calling for a base case of silver prices to climb to $28, with a bullish case of $30 or more.
I’m very bullish on gold, but I’m even more bullish on silver.
Randy Smallwood
PRESIDENT OF WHEATON PRECIOUS METALS
That demand is expected to grow more than 15% over the next five years, he said, hinging on accelerated industrial demand from automotive and electronics applications.
Silver is a material commonly used in the manufacturing of automobiles, solar panels, jewelry and electronics.
No silver lining for silver supplies
“We hit peak silver supply back about five, six years ago. Silver production on a worldwide basis has actually been dropping, and we’re not seeing as much silver produced from the mines,” said Randy Smallwood, president of Wheaton Precious Metals.
According to trade group The Silver Institute, the supply of silver from mine production in 2022 was 843.2 million ounces, which was still shy of the decade’s peak of 900 million ounces in 2016.
The supply of silver, which is largely produced as a byproduct of lead-zinc, copper and gold mines, does not generally respond as quickly to demand.
Freshly cast 30 kilogram silver ingots cooling in their molds at the JSC Krastsvetmet non-ferrous metals plant in Krasnoyarsk, Russia, on Monday, July 12, 2021.
Andrey Rudakov | Bloomberg | Getty Images
“When silver prices go up, it’s not like the silver mines can increase production, because the silver mines only supply about 25% of the silver,” Smallwood said, adding that the market often relies on the lead-zinc mines to satisfy the higher demand.
However, he maintained that while it wouldn’t be surprising to see silver touch $30 per ounce, he does not think that price will hold. He calls for prices to “stay comfortably over $20 per ounce.”
“I’m very bullish on gold, but I’m even more bullish on silver,” Smallwood said.
‘Headwind for silver’?
However, recession fears could lead to softer industrial demand, which may cause silver prices to drop as low as $18 per ounce, according to MKS PAMP.
The biggest risk to silver prices is if inflation falls away faster than expected, Pallion’s Simpson seconded.
“If the Fed continues to tighten, and if inflation falls away more rapidly than the market expects, that will be a headwind for silver,” she said, “especially if the economy heads into a recession, given the large share of silver demand tied to industrial output.”
Flagship Project: The Moss Lake Property located in Ontario, Canada has 1.47 M oz of Indicated and 2.51 M oz of Inferred historical gold resources, along with a robust Preliminary Economic Assessment conducted in 2020.
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VANCOUVER, BC / ACCESSWIRE / January 25, 2023 / Stillwater Critical Minerals (TSX.V:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) is pleased to report a 62% increase in the updated independent National Instrument 43-101 (“NI 43-101”) mineral resource estimate (the “2023 Resource”) for its 100%-owned Stillwater West platinum group element, nickel, copper, cobalt, and gold (“PGE-Ni-Cu-Co + Au”) project in Montana, USA. The study, which was completed by SGS Geological Services (“SGS”), showed significant increases in tonnage and contained metal at both a bulk tonnage 0.20% nickel equivalent (“NiEq”) cut-off (“Base Case”) and a 0.35% NiEq higher grade bulk tonnage cut-off. A high-grade, selective mining component at a 0.70% NiEq cut-off is presented for the first time.
The Company will host a live webcast on January 31, 2023, at 10am PT | 1pm ET to discuss the Stillwater West project and the 2023 Resource. To register, click here.
2023 Resource Highlights
Base Case Inferred mineral resources of 1.6 billion pounds (“Blbs”) of nickel, copper and cobalt and 3.8 million ounces (“Moz”) palladium, platinum, rhodium, and gold (“4E”) in a constrained model totaling 255 million tonnes (“Mt”) at an average grade of 0.39% total estimated recovered NiEq (or 1.19 g/t Palladium Equivalent “PdEq”). See detailed breakdown in Tables 1 and 2, below.
Significant increases in contained metals over the 2021 study at the Base Case 0.20% NiEq cut-off:
Tonnage: 255Mt (62% increase)
Palladium: 2.05Moz (56% increase)
Nickel: 1.05Blbs (52% increase)
Platinum: 1.26Moz (66% increase)
Copper: 499Mlbs (44% increase)
Gold: 395Koz (30% increase)
Cobalt: 91Mlbs (31% increase)
Rhodium: 115Koz (76% increase)
The selective mining high-grade component yielded 11.6Mt at 1.05% Total NiEq (or 3.24 g/t Total PdEq) as 0.56% Ni, 0.33% Cu, 0.03% Co with 0.54 g/t Pd, 0.27 g/t Pt, 0.15 g/t Au and 0.019 g/t Rh. Expansion of this high-grade component results from the addition of high-grade mineralization encountered in the 2021 drill campaign.
Sulphur grades of 1.13% to 6.16% indicate desirable high nickel tenor in sulphide, supporting effective recovery via conventional flotation techniques.
2.27Blbs of chromium has been inventoried. Chromium is defined by the US government as a critical mineral.
Deposits in the 2023 Resource are defined by 156 drill holes from a total of 230 holes drilled on the Stillwater West property and include all holes from the Company’s three campaigns to date.
The 2023 Resource is contained within five deposits in the 9-kilometer central area of the project, all of which are open along strike and at depth. Multi-kilometer scale geophysical targets (Figure 1) and metal-in-soil anomalies indicate excellent expansion potential (Figures 2 to 4). Untested anomalies and earlier stage targets extend across much of the 32-kilometer-long Stillwater West project.
An NI 43-101-compliant technical report on the 2023 Resource for the Stillwater West project will be filed on Sedar.com within 45 days.
Michael Rowley, President and CEO stated, “We are very pleased with the expanded 2023 resource, which returned substantial increases in tonnage and contained metals while also increasing the high-grade component. Overall, these increases speak to the fantastic growth potential and under-explored nature of the Stillwater West project, and to our ability to rapidly increase resources in these wide-open deposits with targeted expansion drilling at low discovery costs. Our Stillwater West project, with its world-class endowment of eight critical minerals, is unique in the United States as a district-scale asset located in an active, producing district that has a long history of large-scale critical mineral production. The US government has recognized the importance of critical minerals to both economic and national security interests and is taking increasing action to secure domestic supply of these key metals at a time when we are advancing Stillwater West and demonstrating its potential. Our exceptional team, with multi-decades of experience at both Stillwater and in the parallel layered geology of the Bushveld Igneous Complex, is well-positioned to advance the asset. We look forward to continuing to build on our success and low discovery costs as we finalize our follow up expansion programs for 2023.”
Dr. Danie Grobler, Vice-President of Exploration, commented, “The 2022 field season, with a renewed focus on geology and structure, has contributed to the understanding of the multi-target geometry and mineralization controls within the Ultramafic Series of the Stillwater Complex, as an analogue to the Platreef of the Bushveld Complex. Our advanced understanding of Platreef-style mineralization and ore mineralogy, and our collaboration with Professor Wolfgang Maier at Cardiff University United Kingdom, as well as key staff at the US Geological Survey, has increased our confidence in the stratigraphic and structural models guiding resource estimation. Enhanced continuity and a significant tonnage increase, as well as increased medium and higher-grade categories, is a direct result of this effort. Our 2023 exploration programs will be focused on expansion of these thick zones of mineralized pegmatoidal pyroxenite/peridotite and associated chromites, as well as broad zones of massive to net-textured sulphides near the base of the layered sequence. We are seeing similar metal distribution characteristics when compared to the Platreef, as well as sulfur contents in relation to distance from the footwall contact. Our direct application of the detailed controls to mineralization in the Platreef-style models is guiding us along an exciting path of discovery.”
TABLE 1 – Grade and Contained Metal at Various NiEq Cut-off Grades
Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture
Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture
Stillwater West Inferred Mineral Resource Estimate, January 20, 2023
Notes: 1) In-Pit Inferred Mineral Resources are reported at a base case cut-off grade of 0.20% NiEq. Values in this table reported above and below the cut-off grades are only presented to show the sensitivity of the block model estimates to the selection of cut-off grade. Equivalent grade and contained metal calculations do not include Rhodium values; 2) All figures are rounded to reflect the relative accuracy of the estimate. Totals may not add or calculate exactly due to rounding.
TABLE 2 – BASE CASE – Grade and Contained Metal by Deposit at 0.20% NiEq Cut-Off (Equals 0.62 g/t PdEq) Stillwater West 2023 Inferred Mineral Resource Estimate, January 20, 2023
Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture
Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture
Notes: 1) No assays shown as – ; 2) equivalent contained metal and grades do not include Rh. See additional notes on page 4.
2023 Exploration Planning
The Company is finalizing 2023 exploration plans with work expected to include extension of the highly effective geophysical surveys and completion of expansion drilling, focused on large, thick zones of mineralized pegmatoidal pyroxenite and peridotite within the resource areas. These zones show direct parallels to the thick Flatreef-style mineralized zones discovered in recent years by Ivanhoe Mines on the Platreef. A second focus for drilling will be to expand on the nickel-rich massive sulphide zones, as well as the very high-grade gold-PGE mineralization within structurally controlled zones.
Metallurgy
Preliminary metallurgical assessments by SWCM returned strong nickel tenor in sulphides drilled by the Company to date. In addition, favorable historic bench-scale metallurgical results completed historically by AMAX at the Iron Mountain target area demonstrate the potential for effective nickel and copper sulphide flotation and PGE recovery. Sample collection for more detailed metallurgical testing is on-going as part of the expanding development of Stillwater West, with a view to including full metallurgical assessment in future studies.
Carbon Capture at Stillwater West
All five deposits in the 2023 Resource contain desirable nickel sulphide mineralization that has been shown to require a much lower environmental footprint in subsequent processing to nickel metal or nickel sulphate in comparison to the laterite nickel ores that dominate global production. As part of SWCM’s commitment to global sustainability initiatives, the Company is also examining the potential for large-scale carbon sequestration with the objective of further reducing and possibly eliminating the carbon footprint of a potential mining operation at Stillwater West.
Preliminary results demonstrate the presence of certain ultramafic minerals that are known to have high capacity to bind carbon dioxide by a natural process known as mineral carbonation. As announced in a news release on September 23, 2021, the Company is continuing its research with Dr. Greg Dipple and his team at ARCA (formerly based at the University of British Columbia, Canada), to assess the capacity of rock samples from Stillwater West to bind carbon dioxide for permanent disposal as part of a potential mining operation. The Company has partnered with Cornell University for more active carbon sequestration methods, as well as hydrometallurgical processing.
This work strongly aligns with SWCM’s Environmental, Social and Governance guidelines and principles, and the incorporation of carbon uptake may bring financial benefits via initiatives such as the 45Q Tax Credit for Carbon Oxide Sequestration that is now in place in the US.
About Stillwater West
Stillwater Critical Minerals is rapidly advancing the Stillwater West PGE-Ni-Cu-Co + Au project towards becoming a world-class source of low-carbon, sulphide-hosted nickel, copper, and cobalt, critical to the electrification movement, as well as key catalytic metals including platinum, palladium and rhodium used in catalytic converters, fuel cells, and the production of green hydrogen. Stillwater West positions SWCM as the second-largest landholder in the Stillwater Complex, with a 100%-owned position adjoining and adjacent to Sibanye-Stillwater’s operating PGE mines in south-central Montana, USA1. The Stillwater Complex is recognized as one of the top regions in the world for PGE-Ni-Cu-Co mineralization, alongside the Bushveld Complex and Great Dyke in southern Africa, which are similar layered intrusions. The J-M Reef, and other PGE-enriched sulphide horizons in the Stillwater Complex, share many similarities with the highly prolific Merensky and UG2 Reefs in the Bushveld Complex. SWCM’s work in the lower Stillwater Complex has demonstrated the presence of large-scale disseminated and high-sulphide battery metals and PGE mineralization, similar to the Platreef in the Bushveld Complex2. Drill campaigns by the Company, complemented by a substantial historic drill database, have delineated five deposits of Platreef-style mineralization across a core 12-kilometer span of the project, all of which are open for expansion into adjacent targets. Multiple earlier-stage Platreef-style and reef-type targets are also being advanced across the remainder of the 32-kilometer length of the project based on strong correlations seen in soil and rock geochemistry, geophysical surveys, geologic mapping, and drilling.
About Stillwater Critical Minerals Corp.
Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West PGE-Ni-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group and other metals by neighboring Sibanye-Stillwater. The Platreef-style nickel and copper sulphide deposits at Stillwater West contain a compelling suite of critical minerals and are open for expansion along trend and at depth, with an updated NI 43-101 mineral resource update announced in January 2023.
Stillwater Critical Minerals’ Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario is currently under an earn-in agreement with Heritage Mining and the Company also holds the Kluane PGE-Ni-Cu-Co project on trend in Canada‘s Yukon Territory.
Note 1: References to adjoining properties are for illustrative purposes only and are not necessarily indicative of the exploration potential, extent or nature of mineralization or potential future results of the Company’s projects.
Note 2: Magmatic Ore Deposits in Layered Intrusions-Descriptive Model for Reef-Type PGE and Contact-Type Cu-Ni-PGE Deposits, Michael Zientek, USGS Open-File Report 2012-1010.
The classification of the current Mineral Resource Estimate into Inferred is consistent with current 2014 CIM Definition Standards – For Mineral Resources and Mineral Reserves.
All figures are rounded to reflect the relative accuracy of the estimate. Totals may not add or calculate exactly due to rounding.
All Resources are presented undiluted and in situ, constrained by continuous 3D wireframe models, and are considered to have reasonable prospects for eventual economic extraction.
Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
The update MRE is based on data for 156 surface drill holes representing 29,392 m of drilling, including data for 14 surface drill holes for 5,143 m completed by Stillwater in 2021.
The mineral resource estimate is based on 6 three-dimensional (“3D”) resource models representing the Chrome Mountain (Hybrid and DR), Camp, HGR, Central and Crescent Zones.
Composites of 1.2 to 3.0 m have been capped where appropriate.
Fixed specific gravity values of 2.90 – 3.10 g/cm3 (depending on deposit) were used to estimate the Mineral Resource tonnage from block model volumes (% block model). Waste in all areas was given a fixed density of 2.9 g/cm3.
Cu, Ni, Co, Pt, Pd, Au and Cr are estimated for each mineralized zone; S and Rh for the majority of the zones. Blocks (5x5x5) within each resource model were interpolated using 1.2 to 3.0 m capped composites assigned to that resource model. To generate grade within the blocks, the inverse distance squared (ID2) interpolation method was used for all domains.
Based on a review of the project location, size, geometry, continuity of mineralization and proximity to surface of the Deposits, and spatial distribution of the five main deposits of interest (all within a 8.7 km strike length), it is envisioned that the Deposits may be mined by open pit.
In-pit Mineral Resources are reported at a base case cut-off grade of 0.20% NiEq. Pit optimization and Cut-off grades are based on metal prices of $9.00/lb Ni, $3.75/lb Cu, $24.00/lb Co, $1,000/oz Pt, $2,000/oz Pd and $1,800/oz Au, assumed metal recoveries of 80% for Ni, 85% for copper, 80% for Co, Pt, Pd and Au, a mining cost of US$2.50/t rock and processing and G&A cost of US$18.00/t mineralized material.
The in-pit Mineral Resource grade blocks were quantified above the base case cut-off grade. At this base case cut-off grade the deposits show excellent geologic and grade continuity. The project is at an early stage of exploration and all deposits are open along strike and down dip. The cut-off grades should be re-evaluated in light of future prevailing market conditions (metal prices, exchange rates, mining costs etc.).
The results from the pit optimization are used solely for the purpose of testing the “reasonable prospects for economic extraction” by an open pit and do not represent an attempt to estimate mineral reserves. There are no mineral reserves on the Property. The results are used as a guide to assist in the preparation of a Mineral Resource statement and to select an appropriate resource reporting cut-off grade. Pit optimization does not represent an economic study.
The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
The Author is not aware of any known mining, processing, metallurgical, environmental, infrastructure, economic, permitting, legal, title, taxation, socio-political, or marketing issues, or any other relevant factors not reported in this technical report, that could materially affect the current Mineral Resource Estimate.
Qualified Person
The Stillwater West PGE-Ni-Cu-Co + Au project 2023 Resource estimate was prepared by Allan Armitage, Ph.D., P.Geo., of SGS Geological Services, an independent Qualified Person, in accordance with the guidelines of the Canadian Securities Administrators’ National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) with an effective date of January 20, 2023. Armitage conducted a recent site visit to the property on June 29 and 30, 2022. Mr. Armitage reviewed and approved the technical content of this news release with respect to the 2023 Resource estimate.
Mr. Mike Ostenson, P.Geo., is the Qualified Person for the purposes of National Instrument 43-101, and he has reviewed and approved the technical disclosure outside of the 2023 Resource estimate that is contained in this news release.
Forward-Looking Statements
Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Stillwater Critical Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Stillwater Critical Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture
Figure 1 2023 DEPOSIT MODELS WITH SELECT DRILL RESULTS OVER 3D INDUCED POLARIZATION (IP) GEOPHYSICAL SURVEY RESULTS
Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture
Figure 2 2023 DEPOSIT OUTLINES WITH DRILL DATA OVER PRECIOUS AND BASE METALS IN SOILS
Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture
Figure 3 2023 DEPOSIT OUTLINES WITH DRILL DATA OVER GEOPHYSICS (CONDUCTIVITY)
Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture
Figure 4 14 TARGET AREAS ACROSS MAIN CLAIM BLOCK INCLUDING PICKET PIN (UPDATED JANUARY 2023)
VANCOUVER, BC / ACCESSWIRE / January 18, 2023 / Stillwater Critical Minerals Corp. (formerly Group Ten Metals) (TSXV:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) is pleased to announce results of rhodium assays conducted on core from resource expansion drilling on its 100%-owned Stillwater West platinum group element, nickel, copper, cobalt, and gold (“PGE-Ni-Cu-Co + Au”) project in Montana, USA, adjacent to Sibanye-Stillwater’s world-class critical minerals mining operations.
These results, along with the integration of deposit models from South Africa’s Bushveld complex, provide the Company and SGS Geological Services (“SGS”) with the remaining components necessary to finalize an update of the Company’s inaugural October 2021 resource estimate (the “2021 Resource”), which delineated five Platreef-style deposits totaling 1.1 billion pounds of nickel, copper and cobalt, and 2.4 million ounces of palladium, platinum, rhodium and gold (see Figure 1).
Rhodium intercept highlights from resource expansion drilling include:
Widespread rhodium in drill results at potentially significant co-product grades including:
0.122 g/t Rh over 7.2 meters in CM2021-01 starting at 304.8 meters;
0.104 g/t Rh over 8.3 meters in CM2021-03 starting at 252.2 meters; and
0.396 g/t Rh over 1.2 meters in CM2021-01 starting at 411.6 meters.
Current results expand upon similar results in past campaigns which returned 0.103 g/t Rh over 7.9 meters in hole CM2020-05, and 0.100 g/t Rh over 6.1 meters in hole CM2007-02.
Rhodium is mined solely as a co-product at grades that are often below 0.1 g/t. South Africa dominates global production, and there is very little mine supply in North America. Sibanye-Stillwater, adjacent to SWCM’s Stillwater West project, is the primary US producer.
Supply constraints have resulted in elevated rhodium prices since 2017. At its current spot price of more than USD 12,000/oz, 0.1 g/t rhodium equates to more than 0.6 g/t gold or palladium equivalent, and more than 1.2 g/t platinum equivalent.
Rhodium has a high melting point, is highly corrosion resistant, and is critical in catalytic converters, along with platinum and palladium, for cleaner vehicle emissions.
Complete results from the 14-hole expansion drill campaign, which consisted of wide step-outs at three of the five deposits defined by the 2021 Resource, are being incorporated into the updated block models by SGS. As shown in Table 1, results continue to demonstrate impressive grade and scale with wide intervals at successively higher grades contained within very wide bulk-tonnage grade intervals, including:
13.2 meters of 2.31% Ni, 0.35% Cu, 0.115% Co, and 1.51 g/t 4E (Pt+Pd+Au+Rh) starting at 37.6 meters and within 400.8 meters of continuous mineralization in hole CM2021-05;
44.1 meters of 0.57% Ni, 0.34% Cu, 0.045% Co, and 0.74 g/t 4E starting at 32.8 meters and within 367.6 meters of continuous mineralization in hole CZ2021-01; and
50.2 meters of 1.05 g/t 4E plus 0.19% Ni and other values within 728.1 meters of continuous mineralization in hole CM2021-01.
Metallurgical testing completed by AMAX confirmed recovery of rhodium along with palladium and platinum in preliminary bench-scale flotation testing at the CZ deposit area in the early 1970s.
Past work previously reported by the Company included surface sample results of up to 5.78 g/t Rh at the HGR target in the Iron Mountain area, and 1.07 g/t Rh at Chrome Mountain in reconnaissance-scale rock sample programs (see June 11, 2020, news release).
Early results for other rare Platinum Group Elements (“PGE”) show potential for additional value from iridium, osmium, and ruthenium which often occur along with platinum, palladium, and rhodium at Stillwater West.
Table 1 – Final results from resource expansion drilling including recent rhodium assay results.
INTERVAL
PRECIOUS METALS
BASE METALS
TOTAL METALEQUIVALENTS
HOLE ID
From(m)
To(m)
Width(m)
Pt(g/t)
Pd(g/t)
Au(g/t)
Rh(g/t)
4E(g/t)
Ni(%)
Cu(%)
Co(%)
NiEq*(%)
NiEq*(%)
PdEq*(g/t)
DR / HYBRID DEPOSIT AREA – RESOURCE EXPANSION DRILLING
CM2021-01
0.0
728.1
728.1
0.12
0.17
0.02
0.013
0.32
0.13
0.03
0.013
0.16
0.26
0.66
including
230.5
583.4
352.9
0.21
0.27
0.03
0.022
0.54
0.17
0.04
0.015
0.20
0.38
0.95
including
304.8
312.0
7.2
0.63
0.64
0.03
0.122
1.43
0.11
0.02
0.008
0.13
0.67
1.68
including
324.0
385.2
61.2
0.19
0.17
0.02
0.039
0.42
0.20
0.04
0.015
0.23
0.39
0.98
including
397.2
556.4
159.2
0.31
0.41
0.05
0.025
0.79
0.18
0.03
0.017
0.22
0.47
1.17
including
397.2
447.4
50.2
0.48
0.48
0.04
0.050
1.05
0.19
0.03
0.015
0.22
0.56
1.40
including
423.4
430.6
7.2
0.93
1.33
0.05
0.027
2.34
0.24
0.03
0.018
0.27
0.96
2.39
including
479.8
549.2
69.4
0.27
0.47
0.06
0.017
0.82
0.18
0.04
0.017
0.22
0.48
1.20
including
530.0
543.2
13.2
0.26
0.81
0.06
0.039
1.17
0.21
0.06
0.017
0.25
0.67
1.67
including
530.0
537.2
7.2
0.33
1.07
0.08
0.049
1.54
0.21
0.05
0.017
0.24
0.79
1.97
including
687.4
728.1
40.7
0.07
0.20
0.02
0.008
0.29
0.18
0.07
0.021
0.24
0.34
0.84
CM-2021-02
0.0
333.0
333.0
0.08
0.10
0.02
0.006
0.20
0.11
0.04
0.011
0.14
0.21
0.52
including
118.7
232.8
114.1
0.07
0.12
0.04
0.007
0.24
0.19
0.09
0.015
0.24
0.32
0.79
including
131.5
148.4
17.0
0.16
0.25
0.05
0.024
0.49
0.19
0.10
0.022
0.27
0.44
1.11
including
256.9
267.0
10.2
0.14
0.38
0.07
0.016
0.61
0.25
0.13
0.014
0.31
0.52
1.29
CM-2021-03
0.0
428.2
428.2
0.08
0.13
0.02
0.009
0.24
0.10
0.03
0.015
0.14
0.22
0.56
including
106.0
115.2
9.2
0.02
0.03
0.06
0.008
0.12
0.28
0.11
0.045
0.41
0.46
1.14
including
165.0
215.4
50.4
0.06
0.06
0.03
0.005
0.15
0.13
0.04
0.017
0.17
0.22
0.55
including
165.0
172.2
7.2
0.01
0.05
0.04
0.002
0.10
0.29
0.10
0.044
0.41
0.45
1.11
including
240.1
270.4
30.3
0.31
0.65
0.05
0.048
1.06
0.14
0.03
0.013
0.17
0.55
1.37
including
252.2
260.5
8.3
0.49
1.06
0.05
0.104
1.70
0.13
0.03
0.013
0.16
0.81
2.02
CM-2021-04
0.0
208.8
208.8
0.05
0.08
0.02
0.004
0.14
0.11
0.05
0.015
0.16
0.20
0.50
including
0.0
67.2
67.2
0.10
0.17
0.02
0.010
0.30
0.13
0.05
0.016
0.18
0.28
0.69
including
3.6
16.8
13.2
0.17
0.52
0.03
0.025
0.75
0.15
0.04
0.015
0.19
0.46
1.14
including
198.0
208.8
10.8
0.02
0.04
0.03
0.002
0.10
0.25
0.22
0.026
0.38
0.41
1.02
CM-2021-05
36.4
437.2
400.8
0.06
0.12
0.04
0.008
0.22
0.17
0.03
0.015
0.20
0.27
0.68
including
36.4
132.4
96.0
0.06
0.12
0.12
0.002
0.30
0.40
0.05
0.024
0.43
0.52
1.30
including
37.6
50.8
13.2
0.25
0.43
0.82
0.015
1.51
2.31
0.35
0.115
2.43
2.89
7.21
including
37.6
43.6
6.0
0.50
0.77
1.34
0.024
2.63
3.47
0.24
0.195
3.58
4.38
10.92
including
190.0
208.0
18.0
0.18
0.58
0.04
0.025
0.82
0.16
0.05
0.015
0.20
0.49
1.22
including
191.2
196.0
4.8
0.40
1.41
0.09
0.071
1.98
0.21
0.07
0.016
0.26
0.98
2.43
including
345.7
364.0
18.3
0.21
0.43
0.05
0.034
0.72
0.16
0.06
0.014
0.20
0.46
1.14
CM-2021-06
0.0
376.8
376.8
0.08
0.13
0.02
0.009
0.24
0.12
0.03
0.014
0.15
0.23
0.57
including
123.0
150.8
27.8
0.15
0.41
0.04
0.030
0.63
0.16
0.05
0.015
0.20
0.43
1.07
including
125.1
129.4
4.3
0.28
0.99
0.07
0.096
1.44
0.23
0.07
0.020
0.28
0.86
2.15
including
254.0
264.8
10.8
0.05
0.12
0.03
0.004
0.21
0.27
0.06
0.030
0.33
0.40
1.01
including
303.4
376.8
73.4
0.20
0.26
0.03
0.020
0.51
0.14
0.02
0.017
0.17
0.34
0.84
including
305.8
328.4
22.6
0.32
0.44
0.02
0.035
0.81
0.11
0.01
0.017
0.14
0.42
1.04
including
315.4
327.2
11.8
0.42
0.63
0.02
0.048
1.12
0.10
0.01
0.017
0.14
0.52
1.29
CZ DEPOSIT AREA – RESOURCE EXPANSION DRILLING
CZ2021-01
10.8
378.4
367.6
0.06
0.17
0.02
0.009
0.26
0.15
0.06
0.015
0.20
0.29
0.72
including
13.2
76.9
63.7
0.12
0.42
0.07
0.027
0.64
0.47
0.27
0.040
0.62
0.86
2.15
including
32.8
76.9
44.1
0.12
0.49
0.09
0.035
0.74
0.57
0.34
0.045
0.75
1.04
2.58
CZ-2021-02
87.6
94.8
7.2
0.03
0.10
0.08
0.002
0.21
0.17
0.11
0.018
0.24
0.31
0.78
HGR DEPOSIT AREA – RESOURCE EXPANSION DRILLING
IM-2021-01
Did not reach target depth due to bad ground conditions
IM-2021-02
Did not reach target depth due to bad ground conditions, repeated as IM-2021-03
IM-2021-03
Did not reach target depth due to bad ground conditions
115.0
118.6
3.6
0.32
1.17
0.06
0.067
1.62
0.14
0.02
0.012
0.16
0.76
1.90
IM-2021-04
0.0
306.5
306.5
0.05
0.09
0.02
0.005
0.15
0.13
0.08
0.013
0.18
0.23
0.57
including
92.2
207.6
115.4
0.09
0.16
0.03
0.009
0.28
0.19
0.10
0.015
0.25
0.34
0.85
including
92.2
102.0
9.8
0.39
1.02
0.06
0.069
1.54
0.19
0.06
0.018
0.24
0.80
2.00
including
147.6
200.4
52.8
0.07
0.11
0.04
0.003
0.22
0.23
0.16
0.014
0.31
0.37
0.93
including
256.0
260.8
4.8
0.00
0.15
0.09
0.055
0.30
0.74
0.65
0.070
1.11
1.28
3.19
IM-2021-05
0.0
379.2
379.2
0.07
0.13
0.02
0.006
0.22
0.17
0.09
0.014
0.22
0.29
0.74
including
66.8
99.2
32.4
0.15
0.30
0.04
0.017
0.50
0.22
0.11
0.016
0.28
0.45
1.12
including
310.2
378.0
67.8
0.06
0.16
0.03
0.006
0.26
0.25
0.14
0.016
0.32
0.40
1.01
including
313.4
334.9
21.5
0.07
0.24
0.04
0.013
0.35
0.38
0.13
0.024
0.45
0.58
1.43
including
313.4
315.8
2.4
0.00
0.65
0.11
0.086
0.85
1.55
0.17
0.087
1.63
2.04
5.08
including
327.7
334.9
7.3
0.13
0.34
0.04
0.007
0.51
0.45
0.17
0.026
0.53
0.70
1.74
including
346.8
347.8
1.0
0.03
0.31
0.11
0.090
0.55
2.52
0.31
0.097
2.54
2.84
7.09
including
354.3
364.8
10.5
0.07
0.22
0.04
0.003
0.33
0.34
0.33
0.018
0.49
0.59
1.48
including
354.3
355.5
1.2
0.07
0.82
0.06
0.001
0.95
1.33
0.71
0.055
1.60
1.92
4.79
IM-2021-06
0.0
333.0
333.0
0.08
0.14
0.02
0.008
0.25
0.13
0.04
0.012
0.16
0.24
0.60
including
70.8
164.8
94.0
0.14
0.32
0.05
0.016
0.53
0.20
0.09
0.014
0.25
0.43
1.06
including
82.8
109.2
26.4
0.19
0.41
0.08
0.013
0.69
0.27
0.14
0.016
0.34
0.56
1.40
including
298.6
314.2
15.6
0.16
0.33
0.02
0.031
0.55
0.14
0.03
0.016
0.18
0.38
0.95
including
299.8
304.6
4.8
0.42
0.83
0.05
0.077
1.38
0.16
0.03
0.016
0.19
0.70
1.75
*Notes to reported values:
Ni and Pd equivalents are presented for comparative purposes using conservative long-term metal prices (all USD): $8.00/lb nickel (Ni), $4.00/lb copper (Cu), $24.00/lb cobalt (Co), $1,000/oz platinum (Pt), $2,200/oz palladium (Pd), $1,800/oz gold (Au), and $10,000/oz rhodium (Rh).
Recovered Nickel Equivalent in Table 1 is determined as follows: NiEq% = [Ni% x recovery] + [Cu% x recovery x Cu price/ Ni price] + [Co% x recovery x Co price / Ni price] + [Pt g/t x recovery / 31.103 x Pt price / Ni price / 2,204 x 100] + [Pd g/t x recovery / 31.103 x Pd price / Ni price / 2,204 x 100] + [Au g/t x recovery / 31.103 x Au price / Ni price / 2,204 x 100]
Palladium Equivalent is determined as follows: PdEq g/t = NiEq x 0.401
In the above calculations: 31.103 = grams per troy ounce, 2,204 = lbs per metric tonne, and 100 and 0.01 convert assay results reported in % and g/t.
The following recoveries have been assumed for purposes of the above equivalent calculations: 85% for Ni and 90% for all other listed metals, based on recoveries at similar nearby operations.
Intervals are reported as drilled widths and are believed to be representative of the true width of mineralization.
Dr. Danie Grobler, Vice-President of Exploration, commented, “We see an overall trend of increasing PGE content up-sequence within the Ultramafic Series of the Stillwater Complex (“SWC”), like that observed within ultramafic portions of the Bushveld Complex (South Africa), as well as the Great Dyke in Zimbabwe. Scientific studies have shown that the Ultramafic Series of the SWC are enriched in PGE relative to most mafic magmas. Furthermore, the chromitite layers correlate with and are particularly enriched in rhodium and the lesser PGEs osmium, iridium, and ruthenium. More importantly, the reported high-grade rhodium results correlate with specific chromite seams and correspond to geochemical and geophysical anomalies associated with our existing resource areas defined during 2021, highlighting our rapidly advancing understanding of their occurrence, and our ability to effectively target new areas.”
Stillwater Critical Minerals President and CEO, Michael Rowley, stated, “Our 2022 programs built on the success of past campaigns, continuing to return rhodium at significant potential co-product values at a time when the U.S. is looking to increase domestic supplies of this very rare element, alongside 49 other critical minerals. We look forward to reporting our updated and expanded resource models in the near term as we advance Stillwater West towards its potential to become a primary low-carbon source of eight of the minerals listed as critical by the US government, effectively ushering in the next phase of critical mineral supply from the iconic and productive Stillwater Complex.”
Upcoming Events
The Company at is pleased to advise it will be presenting at the Emerging Growth Conference: January 25th at 9:30am PT | 12:30pm ET (virtual). To register, click here.
Stillwater Critical Minerals is rapidly advancing the Stillwater West PGE-Ni-Cu-Co + Au project towards becoming a world-class source of low-carbon, sulphide-hosted nickel, copper, and cobalt, critical to the electrification movement, as well as key catalytic metals including platinum, palladium and rhodium used in catalytic converters, fuel cells, and the production of green hydrogen. Stillwater West positions SWCM as the second-largest landholder in the Stillwater Complex, with a 100%-owned position adjoining and adjacent to Sibanye-Stillwater’s PGE mines in south-central Montana, USA1. The Stillwater Complex is recognized as one of the top regions in the world for PGE-Ni-Cu-Co mineralization, alongside the Bushveld Complex and Great Dyke in southern Africa, which are similar layered intrusions. The J-M Reef, and other PGE-enriched sulphide horizons in the Stillwater Complex, share many similarities with the highly prolific Merensky and UG2 Reefs in the Bushveld Complex. SWCM’s work in the lower Stillwater Complex has demonstrated the presence of large-scale disseminated and high-sulphide battery metals and PGE mineralization, similar to the Platreef in the Bushveld Complex2. Drill campaigns by the Company, complemented by a substantial historic drill database, have delineated five deposits of Platreef-style mineralization across a core 12-kilometer span of the project, all of which are open for expansion into adjacent targets. Multiple earlier-stage Platreef-style and reef-type targets are also being advanced across the remainder of the 32-kilometer length of the project based on strong correlations seen in soil and rock geochemistry, geophysical surveys, geologic mapping, and drilling.
About Stillwater Critical Minerals Corp.
Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West PGE-Ni-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group and other metals by neighbouring Sibanye-Stillwater. The Platreef-style nickel and copper sulphide deposits at Stillwater West contain a compelling suite of critical minerals and are open for expansion along trend and at depth, with an updated NI 43-101 mineral resource update expected in 2022.
Stillwater Critical Minerals also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, which is currently under an earn-in agreement with an option to joint venture whereby Heritage Mining may earn up to a 90% interest in the project by completing payments and work on the project. The Company also holds the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.
Note 1: References to adjoining properties are for illustrative purposes only and are not necessarily indicative of the exploration potential, extent or nature of mineralization or potential future results of the Company’s projects.
Note 2: Magmatic Ore Deposits in Layered Intrusions-Descriptive Model for Reef-Type PGE and Contact-Type Cu-Ni-PGE Deposits, Michael Zientek, USGS Open-File Report 2012-1010.
2021 drill core samples were analyzed by ACT Labs in Vancouver, B.C. Sample preparation: crush (< 7 kg) up to 80% passing 2 mm, riffle split (250 g) and pulverize (mild steel) to 95% passing 105 µm included cleaner sand. Gold, platinum, and palladium were analyzed by fire assay (1C-OES) with ICP finish. Rhodium was analyzed by fire assay (1C-Rhodium). Selected major and trace elements were analyzed by peroxide fusion with 8-Peroxide ICP-OES finish to insure complete dissolution of resistate minerals. Following industry QA/QC standards, blanks, duplicate samples, and certified standards were also assayed.
Mr. Mike Ostenson, P.Geo., is the qualified person for the purposes of National Instrument 43-101, and he has reviewed and approved the technical disclosure contained in this news release.
Forward-Looking Statements
Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Stillwater Critical Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Stillwater Critical Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
I’m a licensed broker for Miles Franklin Precious Metals Investments, The Only Online Dealer that is Licensed and Bonded Period! Where we provide unlimited options to expand your precious metals portfolio, from:
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Joining us for a conversation is Dean Taylor the CEO of Diamcor Mining to share why prudent capital is in investing in the diamond space. We will also highlight the value proposition of Diamcor Mining and address operational and corporate updates for 2023.
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TORONTO, Jan. 12, 2023 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce the latest results from recent drilling targeting the highly prospective Appleton Fault Zone over a 12km strike length. The drilling is part of the Company’s ongoing 100,000 metre diamond drilling program at its 100% owned Kingsway Project.
Highlights of the drilling include an intersection of 20.88 g/t Au over 5 metres that included 124.21g/t Au over 0.81 metres and 7.41 g/t Au over 1.0 metres in Hole K-22-206, and 6.04 g/t Au over 1.20 metres in Hole K-22-208. Both holes were drilled at the north end of Big Vein.
“We continue to follow up on the success of last year’s drilling at Big Vein with another high-grade intersection at the north end of the zone. Big Vein has now been drilled over a strike length of approximately 520 metres along the west side of the Appleton Fault Zone and remains open to the northeast and to the southwest,” said Roger Moss, President and CEO. “Drilling is ongoing at both ends of the zone to extend the strike length of the mineralization.”
Hole ID
From (m)
To (m)
Interval (m)
Au (g/t)
Zone
K-22-208
116.00
118.00
2.00
1.07
Big Vein
176.58
178.12
1.54
5.00
including
176.58
177.78
1.20
6.04
K-22-206
24.00
25.00
1.00
1.13
Big Vein
319.00
320.00
1.00
7.41
371.00
376.00
5.00
20.88
including
374.56
375.37
0.81
124,213
K-22-204
nsv
CSAMT
K-22-203
nsv
Golden Glove
Table 1. Summary of assay results. All intersections are downhole length as there is insufficient Information to calculate true width.
Big Vein plan map.
Figure 1. Big Vein plan map.
A total of 63,055 metres have been drilled to date out of the planned 100,000 metre program. Assays are pending for samples from approximately 2,700 metres of core.
The Company has $18 million in cash and is well funded to carry out the remaining 37,000 metres of the planned drill program as well as further exploration to add to the pipeline of drill targets on the property.
Hole ID
Easting
Northing
Elevation (m)
Azimuth
Dip
Total depth (m)
K-22-208
661571
5435366
58
145
50
497
K-22-206
661593
5435331
54
155
60
422.11
K-22-204
666713
5443698
50
295
55
482
K-22-203
660958
5432372
40
108
45
520.38
Table 2. Drill hole collar details
QA/QC
True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with atomic absorption finish as well as by ICP-OES for an additional 34 elements. Samples containing visible gold are assayed by metallic screen/fire assay, as are any samples with fire assay results greater than 1g/t Au. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.
Qualified Person
Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.
The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.
About Labrador Gold Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.
Labrador Gold’s flagship property is the 100% owned Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 100,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone with encouraging results. The Company has approximately $18 million in working capital and is well funded to carry out the planned program.
The Hopedale property covers much of the Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.
The Company has 170,009,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.
For more information please contact: Roger Moss, President and CEO Tel: 416-704-8291
Or visit our website at: www.labradorgold.com
Twitter @LabGoldCorp
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
Vancouver, British Columbia–(Newsfile Corp. – January 9, 2023) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“) is presenting at the Emerging Growth Conference on January 11, 2023 at 12:30pm EST online.
Goldshore invites individual and institutional investors as well as advisors and analysts, to attend its real-time, interactive presentation at the Emerging Growth Conference. Brett Richards, Chief Executive Officer of Goldshore, will be presenting and answering questions after the presentation. Please submit your questions in advance to Questions@EmergingGrowth.com or ask your questions during the event.
Register in advance here to ensure you are able to attend the conference and receive any updates that are released.
If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available on EmergingGrowth.com and on the Emerging Growth YouTube Channel. We will release a link to that after the event.
About the Emerging Growth Conference
The Emerging Growth Conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in a time efficient manner.
The conference focus and coverage includes companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and with overall potential for long term growth. Its audience includes potentially tens of thousands of Individual and Institutional investors, as well as Investment advisors and analysts.
All sessions will be conducted through video webcasts and will take place in the Eastern time zone.
About Goldshore
Goldshore is an emerging junior gold development company, and owns the Moss Lake Gold Project located in Ontario. Wesdome Gold Mines Ltd. is currently a large shareholder of Goldshore with an approximate 22% 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.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For More Information – Please Contact:
Brett A. Richards President, Chief Executive Officer and Director Goldshore Resources Inc.
This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Lake Gold Project 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; the impact of COVID-19; the ongoing military conflict in Ukraine; and other risk factors outlined in the Company’s public disclosure documents.
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.
