Tag: #PreciousMetals

Metallic Minerals Announces Acquisition of Additional High-Grade Claims in the Keno Hill Silver District

Post author By admin
Post date September 7, 2022

VANCOUVER, BC / ACCESSWIRE / September 7, 2022 / Metallic Minerals (TSX.V:MMG)(OTCQB:MMNGF) (“Metallic Minerals“, or the “Company“) is pleased to announce that it has acquired 100% interest in 5 square kilometres (“km²“) of new mineral properties in the Keno Hill silver district of Canada’s Yukon Territory, bringing the Company’s total district hard-rock land position to 171 km². Each of these newly acquired properties have demonstrated the presence of high-grade Keno-style silver-lead-zinc mineralization and are adjacent to, or contiguous with, Metallic Minerals’ Keno Silver property and the Keno Hill properties now owned by Hecla Mining following the completion of the acquisition of Alexco Resources (see Figure 1).

Acquisition Highlights

Nabob and Faro Claims – In the Keno Summit area, the Nabob claim hosts the Keno Hill “Main” vein and its numerous offshoots where drilling in 2012 returned impressive results (NA-12-02, 0.4 meters (m) of 4,090.6 grams per ton (g/t) Silver Equivalent (Ag Eq) (3,140 g/t Ag, 0.86 g/t Au, 22.37% Pb and 0.25% Cu), that led to high-grade surface mining of 65 tons of ore material over 4,200 g/t Ag (see Table 1)¹. The Nabob Main vein was successfully targeted by two Metallic Minerals drill holes in its 2022 field program and assay results are pending.
Rage 1-3 Claims – The Rage claims cover the Rain and Shine target area where a typical Keno-style Ag-Pb-Zn vein has been sampled at surface and returned grades to 889.1 g/t Ag Eq in grab samples from the vein. The Rain and Shine mineralization appears to occur at the intersection of the Flame & Moth and Onek trends, which host 41.5 million ounces of silver (“Moz Ag”) and 4.3 Moz Ag respectively, in mineral reserves and M&I resources². Well located regarding infrastructure, the Rage claims are crossed by the Bellekeno mine-to-mill haul road, only 600 meters from the Hecla Mill.
The Tveter-Pavlovich claims on the south side of Sourdough Hill, 500 meters from Hecla’s Bellekeno mine, is associated with extension of structures from the Bellekeno deposit which has produced 7.9 Moz Ag⁵ and hosts 4.75 Moz Ag in current reserves and M&I resources². These potential extensions were tested by drilling at the Tveter-Pavlovich claim boundary in 2018 returning 3.3 m of 469.3 g/t Ag Eq (63.1 g/t Ag, 0.93% Pb, 0.92% Zn) including 0.2 m of 1,120.5 g/t Ag Eq (832.0 g/t Ag, 3.34%¹)⁴. In addition to the Bellekeno vein extensions, historic exploration identified and exposed two additional vein occurrences with high-grade Ag-Pb-Zn and gold potential called the Mo vein showings on the property³.

Metallic Minerals President, Scott Petsel, stated, “We are very pleased to have been able to add these significant and very prospective properties in the high-grade Keno Hill silver district, and to immediately initiate drill testing of the Nabob vein as a historically drilled, potentially ‘resource-ready’ target.”

“Additionally, Metallic’s 171 km² land position is the second largest in the prolific Keno Hill camp and now contains five ‘resource-ready’ advanced-stage targets, 11 ‘growth-stage’ targets with initial positive drilling and over 20 early-stage drill-ready targets with numerous additional untested soil anomalies of greater than 6.0 g/t Ag Eq., all in a district with over 100 years of mining history and over 300 million ounces of past silver production and current resources⁵. We are currently wrapping up our exploration program at the Keno Silver Project and we anticipate receiving initial results over the coming months from our core drilling and surface sampling programs including results from the Nabob target drilling.”

Keno District Alluvial Claims

In addition to the recently acquired hard-rock properties mentioned above, Metallic Minerals has been assembling, through acquisition and staking, a significant package of alluvial claims and leases in prospective areas in the Keno District. These claim groupings, including the Granite Creek East claims, the Allen/Faith Creek Claims and the Badger and Honey claims total over 20 miles of prospective alluvial deposits to explore and develop. Claims in the Granite Creek area have produced over 16,000 ounces of gold between 2015 and 2020 and gold production continues in multiple operations⁶. Metallic intends to pursue royalty agreements with known operators interested in alluvial claim development and production. A further update on Metallic’s alluvial claim and activities at both Keno and in the Klondike is expected in the coming weeks.

Upcoming Events

Metals Investor Forum – Metallic Minerals will be participating in the upcoming Metals Investor Forum in Vancouver on September 9-10, during which the Company will provide a live presentation with Q&A. For more information and to register click here.

Precious Metals Summit – Metallic Minerals will be attending the 2022 Precious Metals Summit in Beaver Creek, Colorado, where the Company will participate in 1-on-1 meetings with institutional investors and deliver a live presentation update. For more information and to register, click here.

Figure 1 – Keno Silver District Map Highlighting Metallic Minerals Property and New Acquisitions

Metallic Minerals Corp., Wednesday, September 7, 2022, Press release picture

Table 1 – Highlight Assay Results from Historic Drilling and Sampling at Recent Acquisition Targets

Target Area	DDH or Sample ID	Sample Type	From (m)	To (m)	Width (m)	Ag Eq (g/t)¹	Ag (g/t)	Au (g/t)	Pb (%)	Zn (%)	Cu (%)
Rage	113362	Grab	–	–	–	565.3	56.8	0.03	0.22	10.54	0.03
Rage	113363	Grab	–	–	–	193.0	26.0	0.31	0.07	2.80	0.03
Rage	113364	Grab	–	–	–	660.4	198.0	4.51	0.40	0.10	0.14
Rage	10-06-LB	Grab	–	–	–	889.1	36.0	1.41	0.05	14.42	0.38
Rage	11-06-LB	Grab	–	–	–	301.5	263.0	0.22	0.38	0.07	Nil
Rage	RS-01-06	Grab	–	–	–	326.7	275.0	0.25	0.59	0.12	Nil
Rage	RS-02-06	Chip	–	–	–	259.3	28.0	0.01	0.05	4.87	Nil

Nabob²	NA-12-02	Core	21.24	24.64	3.4	637.5	466.5	0.12	4.06	0.08	0.01
Nabob²	Incl.	Core	21.24	21.64	0.4	4090.6	3140.0	0.86	22.37	0.25	0.09
Nabob²	NA-12-03	Core	22.5	23.7	1.2	292.5	169.7	0.13	2.69	0.15	0.01
Nabob²	NA-12-04	Core	16.76	17.76	1	236.7	122.0	0.07	2.33	0.40	0.01
Nabob²	NA-12-06	Core	20	20.75	0.75	240.4	200.0	0.13	0.60	0.09	0.01
Nabob²	NA-12-11	Core	4.75	5.55	0.8	1202.0	1019.0	0.29	3.60	0.28	0.05
Nabob²	NA-12-11	Core	16.1	16.7	0.6	251.6	172.0	0.05	1.56	0.27	0.03
Nabob²	NA-12-12	Core	7.05	8.25	1.2	1125.4	798.7	0.41	7.10	0.36	0.02
Nabob²	Incl.	Core	7.05	7.45	0.4	2951.9	2142.0	0.71	18.63	0.67	0.04
Nabob²	NA-12-13	Core	8.6	10.1	1.5	211.5	119.2	0.44	0.58	0.60	0.01
Nabob²	NA-12-14	Core	5.2	6.1	0.9	779.8	655.0	0.44	1.56	0.34	0.08
Nabob²	NA-12-15	Core	11.35	13.00	1.65	455.3	394.0	0.15	0.40	0.65	0.01

Tveter -Pavlovich³	K-18-0695	Core	285.3	289.5	4.15	83.8	33.9	0.01	0.82	0.38	–
	incl.	Core	287.65	288	0.35	724.2	354.0	0.01	8.99	0.61	–
Tveter -Pavlovich³	K-18-0697	Core	230.5	233.8	3.3	469.3	63.1	0.01	0.93	0.92	–
	Incl.	Core	230.5	230.7	0.2	1120.5	832.0	0.14	3.34	3.17	–

Table Notes: 1 – Silver equivalent (Ag Eq) values assume Ag $19/oz, Pb $1.05/lb, Zn $1.30/lb, Au $1,800/oz, Cu $3.00/lb and 100% metallurgical recovery. Sample intervals are based on measured drill intercept lengths. 2 – Historic Nabob drill samples were subject to highly selective sampling procedures for the purpose of evaluating high-grade mining opportunities and may not be representative of the entire mineralized widths of the Nabob vein system. 3 – Drilled by Alexco Resources at the Tveter-Pavlovich property boundary while the property was under option to Alexco Resources.

Nabob Target Area

The Nabob target, located in the Keno Summit target area, directly adjoins other holdings for Metallic. It was one of the original four claims filed on the Keno Summit discovery in 1919. The fact that it still has exposed high-grade Ag-Pb-Zn vein material, and in the 2010s saw 65 tons of very-high-grade silver production, emphasizes the overall prospectivity of this under-explored part of the district.

Hosted by the Nabob claim the “Main” vein and its transverse offshoots are exposed for 250 m on strike. Work completed in 2012 included rock sampling, trenching, geophysics and the drilling of 17 holes (490.7 m). As reported from the 2012 work, a bulk sample ran 1,618 g/t Ag, 18.5% Pb and 0.51 g/t Au underscoring the high-grade nature of the Nabob target¹. After review of the available drill data and surface exposures, Metallic Minerals chose to drill two holes at the Nabob target in 2022 which have successfully encountered the vein structure and assay results are pending. The Nabob claim acquisition is accompanied by the equally prospective but undrilled Faro claim, also in the Keno Summit area. Together the claims enhance and expand Metallic’s holdings at the Keno Summit and add to the potential to rapidly develop a resource for the target area.

Rain and Shine (Rage 1-3) Target Area

The Rage claims, vended with the Nabob and Faro claims, host the Rain and Shine Ag-Pb-Zn-Au vein target. Mineralization at Rain and Shine is exposed at surface and has been sampled by Metallic Minerals returning substantial grades in grab sampling (see Table 1). The proximity of the Rain and Shine target to existing infrastructure, including Hecla’s operating mill and the Bellekeno haul road as well as being 750 m from underground developments at Hecla’s Flame & Moth mine (41.5 million silver ounces of combined reserves and M&I resources²), bode well for its exploration and development prospects. Mineralization at Rain and Shine is known to have occasional high grade gold numbers associated with the typical Ag-Pb-Zn mineralization and the exposed vein system is parallel to, and similar in style and mineralogy to the vein system being mined at the Flame & Moth. The Rain and Shine is a drill-ready target that Metallic will evaluate for drilling in 2023.

Tveter-Pavlovich Target Area

Consisting of 23 quartz mineral claims (Mo 1-8, Caroline 1-2, Rex 1-2, Boso 1-5, Casy 1-3, Bonny, Chrissie G and the Windy 1), the Tveter-Pavlovich claim block was optioned by Alexco Resources in 2017 with four holes drilled to test the extension of veins in the hanging wall of the Bellekeno 48 vein in the Bellekeno mine. Two of these drill holes encountered significant mineralization up to 1,120.5 g/t Ag Eq (see Table 1) with mineralization open to expansion with follow-up drilling.

Mineralization also outcrops on the Tveter-Pavlovich claims at the Mo target where historic trenching, dozing, shafting and the driving of an adit have exposed two parallel veins with select high-grade sample assays up to 9,771 g/t Ag, 80.5% Pb and 1.7 g/t Au³. Additionally, trenching in 1980 is reported to have exposed a segment of the Mo vein which ran up to 13,719 g/t Ag.

About Metallic Minerals

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

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration and development companies, with a portfolio of large, brownfields assets in established mining districts adjacent to some of the industry’s highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Granite Creek Copper in the Yukon’s Minto copper district, and Stillwater Critical Minerals in the Stillwater PGE-nickel-copper district of Montana and Kluane district in the Yukon. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorer/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration and development using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. Members of the Metallic Group have been recognized as recipients of awards for excellence in environmental stewardship demonstrating commitment to responsible resource development and appropriate ESG practices. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTCQB and Frankfurt stock exchanges.

Footnotes

Blackburn, L. R., Assessment Report, Nabob Project, Keno Hill Yukon Territory, Canada, Keno Hill Exploration Corp., Yukon, 2014
Alexco Resource Corp Technical Report, titled “NI 43-101 Technical Report on Updated Mineral Resource and Reserve Estimate of the Keno Hill Silver District” with an effective date of April 1, 2021 and issue date of May 26, 2021.
Yukon MINFILE – Mineral Occurrence 105M 013 – Version 2004-1. Yukon Geological Survey, Energy, Mines and Resources, Yukon Government, 2004.
Stammers, et al., Assessment Report, 2018 Pavlovich Option Sourdough Hill, Alexco Resources, Yukon, 2019.
Cathro, R. J., Great Mining Camps of Canada 1. The History and Geology of the Keno Hill Silver Camp, Yukon Territory. Geoscience Canada, Sept. 2006. ISSN 1911-4850.
Steinke, et al., Public Presentation, Placer Gold Settings in an Alpine Glaciated Environment, Granite Creek, Yukon, Placer Forum 2022.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: www.mmgsilver.com Phone: 604-629-7800
Email: cackerman@mmgsilver.com Toll Free: 1-888-570-4420

Qualified Person

The disclosure in this news release of scientific and technical information regarding exploration projects on Metallic Minerals’ mineral properties has been reviewed and approved by Scott Petsel, P.Geo., President, who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

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 Metallic 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 Group Ten 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.

SOURCE: Metallic Minerals Corp.

View source version on accesswire.com:
https://www.accesswire.com/714932/Metallic-Minerals-Announces-Acquisition-of-Additional-High-Grade-Claims-in-the-Keno-Hill-Silver-District

Tags #InvestingInBatteryMetals, #InvestingInCopper, #JuniorMining, #MauriceJackson, #MilesFranklin, #PreciousMetals, #ProvenAndProbable, Greg Johnson, Metallic Group of Companies, Metallic Minerals, mmg, ScottPetsel

Junior Mining Precious Metals

Dolly Varden Silver Expands Drill Program and Adds Fourth Drill Rig

Post author By admin
Post date September 7, 2022

Vancouver, British Columbia–(Newsfile Corp. – September 7, 2022) – Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce that a fourth drill rig has been added to the ongoing Kitsault Valley exploration drill program located in the Golden Triangle of northwest BC. Additionally, based on encouraging visual results, the program has been expanded to include an additional 5,000m of drilling bringing the total planned program to 35,000m.

“Our expanded program will focus on four key areas, prioritizing step-out drilling at Wolf and Kitsol where visual intercepts of mineralization and assays received to-date, have been very encouraging. Additionally, geophysical surveys, surface sampling and mapping have developed multiple exploration drill targets that will be tested during our expanded program,” said Shawn Khunkhun, President and CEO of Dolly Varden Silver.

The additional drilling will be allocated to follow up on exploration success at multiple zones and to test new exploration targets in four key areas:

Continued step-out drilling at the Wolf Deposit where drilling has extended vein mineralization 175m along strike and to a depth of 500m beneath the sediment cover and remains wide open for expansion.
Follow-up drilling to test down-plunge expansion of the mineralization at Kitsol, where drill hole DV22-283 intersected 414 g/t Ag over 50.18m (30.11m true width)(news release, August 10, 2022).
Drill testing several new chargeability anomalies along the western Red Point gold belt recently identified from an Induced Polarization (IP) ground geophysical survey.
Additional Resource Expansion holes to the north of the Homestake Main Deposit

Over 25,000m of drilling in 80 drill holes has been completed to date with three drills. With the addition of the 4^th drill, the program is on schedule to drill a total of 35,000m by the end of September 2022.

Initial Drilling at the Wolf Vein followed up on the 2021 intercept of 17.50m averaging 214 g/t Ag and 0.47% Pb including 1.22 m averaging 1,532 g/t Ag, 0.44 g/t Au, 2.11 % Pb and 1.07% Zn (news release, December 20, 2021) and associated alteration underneath the central valley sediment cap has encountered a robust mineralizing system that has been drilled so-far to a depth of 500m and along strike an additional 175m to the southwest. The system remains open thus far and is interpreted to be getting wider closer to the center of the valley fold axis and geophysical anomalies. Assays are currently pending for Wolf Zone drilling.

At the Red Point Prospect, surface grab samples of high level vein float returned 6,280g/t Ag and 106 g/t Ag with 5.82 g/t Au. A subsequent IP line completed by Simcoe Geoscience using their Alpha Wireless Time Domain Distributed IP technology crossed over the zone of veining and shows a strong Chargeability anomaly indicative of sulphides approximately 200m below surface with narrow extensions up to surface where the float samples were collected.

2D IP Chargeability Model

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/136214_05d5ce21d412a8ee_002full.jpg

Dolly Varden’s initial program includes 99 drill holes planned in the phase I program. Resource upgrade and down plunge expansion drilling is underway at the Homestake Ridge Deposit with three drills. The fourth drill is performing exploration drilling north of the Homestake Main resource area, testing the projection of the mineralized structures up to 500m north of the deposit.

The Kitsault Valley Project combined current mineral resource estimate contains 34.7 million ounces of silver and 166 thousand ounces of gold in the Indicated category and 29.3 million ounces of silver and 817 thousand ounces of gold in the Inferred category within a 163 square km consolidated land package.

Quality Assurance and Quality Control

The Company adheres to CIM Best Practices Guidelines for exploration related activities conducted on its property. Quality Assurance and Quality Control (QA/QC) procedures are overseen by the Qualified Person.

Dolly Varden QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and field duplicates within the sample stream. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags and shipped to the laboratory and the other half retained on site. Third party laboratory checks on 5% of the samples are carried out as well. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.

Analytical testing was performed by ALS Canada Ltd. in North Vancouver, British Columbia. The entire sample is crushed and a 500 gram split is pulverized to minus 200mesh. Multi-element analyses were determined by Inductively-Coupled Plasma Mass Spectrometry (ICP-MS) for 48 elements following a 4-acid digestion process. High grade silver testing was determined by Fire Assay with either an atomic absorption, or a gravimetric finish, depending on grade range. Au is determined by Fire Assay on a 30g split.

Qualified Person

Rob van Egmond, P.Geo. Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this news release and supervises the ongoing exploration program at the Dolly Varden Project.

About Dolly Varden Silver Corporation

Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).

Forward-Looking Statements

This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential”, and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward-looking statements or information in this release relates to, among other things, the 2022 drill program at the Kitsault Valley Project, the results of previous field work and programs and the continued operations of the current exploration program, interpretation of the nature of the mineralization at the project and that that the mineralization on the project is similar to Eskay and Brucejack, results of the mineral resource estimate on the project, the potential to grow the project, the potential to expand the mineralization and our beliefs about the unexplored portion of the property.

These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

For additional information on risks and uncertainties, see the Company’s most recently filed annual management discussion & analysis (“MD&A“) and management information circular dated January 21, 2022 (the “Circular“), both of which are available on SEDAR at www.sedar.com. The risk factors identified in the MD&A and the Circular are not intended to represent a complete list of factors that could affect the Company.

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136214

Tags #JuniorMining, #KitsaultValleyProject, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, Dolly Varden Silver, DV, Shawn Khunkhun

Base Metals Energy Junior Mining Metallic Group Precious Metals Stillwater Critical Minerals

(Video) U.S. Infrastructure Bill Targets Critical Minerals Supply

Post author By admin
Post date September 6, 2022

Tags #InvestingInCopper, #JuniorMining, #PreciousMetals, #ProvenAndProbable, Critical Minerals, Metallic Group of Companies, PGE, Stillwater Critical Minerals

Base Metals Energy Junior Mining Precious Metals Project Generators

BHP And Riverside Resources Extend Sonora Mexico Exploration with Budget of US$1,600,000 in Funding Focused on Four Copper Properties and Llano De Nogal

Post author By admin
Post date September 6, 2022

Vancouver, British Columbia–(Newsfile Corp. – September 6, 2022) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to report that the BHP – Riverside Exploration Funding Agreement (“EFA”) will be extended into a fourth year. Building on the past three years of BHP fully funded generative exploration work, the EFA will move into the next exploration phase focusing on five copper projects in Sonora, Mexico (see Figure 1) with a currently approved US$1,100,000 in exploration funding to work on the Llano de Nogal district and US$500,000 in ongoing High Value Work programs in the Sonora Projects for a total so far allocated budget of US$1,600,000 exploration work on the specified properties in the EFA.

The approved next phase of work focuses toward property specific funding to advance the current priority projects with derisking exploration, geophysics, geology, geochemistry, mineral titles, and other related mineral exploration aspects to progress towards drilling and drill decisions. Additional expanded budgets for drilling will be added as projects are moved forward to the Operational Phase for the BHP -Riverside EFA. To that effect, Riverside has experience in all aspects of the upcoming work, as Riverside has managed this successfully in earlier exploration alliances with Kinross Gold, Antofagasta, Cliffs, and Hochschild among others.

Riverside’s President and CEO, John-Mark Staude, commented: “We are pleased to see our partnership with BHP progress from the generative phase into more focused exploration work across the portfolio of projects we’ve acquired and advanced to-date. Now that our partnership with BHP is focusing on a priority group of copper projects, the extensive data, relationships and additional targets we’ve generated within the broader EFA area can also be leveraged and pursued by Riverside. The solid funding support by BHP builds beyond Riverside’s strong balance sheet and other projects. The Company owns and anticipates catalysts in the coming quarter.“

This exploration program is coordinating with the technical teams from BHP and Riverside Resources to work together towards programs which are jointly defined by both companies, while Riverside continues to be the EFA Operator. The five projects that are moving forward are called collectively the “Sonora Projects”. BHP and Riverside will progress the Sonora Projects exploration for large Tier 1 scale porphyry Cu targets and work toward drilling where the majority ownership and funds from BHP could earn a minimum of 80%. Once any of the Sonora Projects are named a Designated Project and moved to the Operational Phase, the partnership continues through a funding by BHP of at least $4M into each project, as outlined in earlier news releases, with Riverside retaining an NSR on projects, should BHP earn an interest and Riverside does not choose to continue as JV partner.

BHP and Riverside will now focus the EFA on Sonora Projects with additional funding to be fully funded by BHP for this fourth year, with emphasizing on drill targeting, permitting, preparation for future drill testing of identified assets and expand on the work programs of the five projects noted below.

The Technical Committee, comprised of both BHP and Riverside personnel, reviewed and visited prospective areas in Sonora, identified during the Generation Phase of the EFA, and singled out a portfolio of five priority copper projects, which are inside of two reduced focused zones and specific property boundaries.

Figure 1: Progressing five projects inside of two focused areas for the BHP – Riverside funded work extended EFA.

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/6101/136027_3ad3038cc48b5a6a_002full.jpg

Additionally, with the thorough evaluations completed by the BHP – Riverside EFA, the Company and BHP now hold a comprehensive and unique data set on Sonora’s porphyry copper potential. Certain prospective target areas were not selected within the EFA framework for various reasons but still have significant potential to host large copper deposits, and both parties can now pursue these opportunities themselves. Moreover, Riverside is also working up four Additional Properties that are mutually agreed for BHP to consider and could be added to the Sonora Projects. These additional properties have yet to reach an on-going funding decision and if not, then may become part of the going forward target ideas that Riverside could pursue as well as the larger exploration region in the coming months.

Options Grant

On September 2^nd, 2022 the Company granted 1,000,000 incentive stock options (the “Options”) to Directors, Officers and Consultants of the Company. The Options are exercisable at $0.13 per share for a period of 5 years from the date of grant. Options granted to individuals in their capacity as a Director vest in 3 equal instalments over 18 months and Options granted to Officers and Consultants vest in 4 equal instalments over 12 months. The Options were granted pursuant to the Company’s shareholder-approved stock option plan and are subject to the policies of the TSX Venture Exchange and any applicable regulatory hold periods.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136027

Tags #JohnMarkStaude, #JuniorMining, #MauriceJackson, #MilesFranklin, #PreciousMetals, #ProvenAndProbable, #RickRule, #RiversideResources, RRI

Base Metals Energy Exclusive Interviews Junior Mining Precious Metals Rover Metals

Rover Metals – New Flagship, Critical Minerals, Brownfields

Post author By admin
Post date September 4, 2022

Joining us for a conversation is Judson Culter the CEO of Rover Metals to discuss the company’s newest project acquisition, the Indian Mountain Lake Project, representing approximately 30,000 acres of greenstone belt, that will offer shareholders exposure to critical minerals – Zinc, Lead, Silver, and Copper.

0:00 Introduction
0:35 Rover Metals Company Overview
1:00 Indian Mountain Lake – Critical Minerals Project (Brownfields)
3:13 (3%) Blue Sky Potential
4:07 New Flagship – Zinc, Lead, Silver, Copper
5:43 Genetic Model
7:46 Infrastructure
10:18 Goals this year on the Indian Mountain Lake Project
11:42 Exploration Work – Twin and or Step Out Drilling
12:57 News flow for the 2022
14:55 Capital Structure
15:23 Message for Shareholders
17:06 What did I forget to ask

Rover Metals has an option to own a 90% interest in the Indian Mountain Lake Volcanic Massive Sulphide project, NT, Canada. The Indian Mountain Lake Project is the Company’s first district scale land package, representing approximately 30,000 acres of greenstone belt. The project has a historical Zinc-Copper-Lead-Silver geological resource. The Indian Mountain Lake VMS Project has had exploration dating back to the 1940s and has a historical resource spread across four zones on the project. The BB Zone and Kennedy Lake Zone have a combined historic resource of 1,400,000 tons grading 10% combined zinc and lead with 3.5 OPT (ounces per ton) of silver. Approximately 900 metres west of the BB Zone, the Kennedy Lake West Zone has a historic resource of 610,000 tons grading 1.15% copper. About 8 km southeast of the BB Zone, the Susu Lake Zone, has a historical resource consisting of 142,500 tons grading 0.95% copper*.

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

*These resources are historic in nature. Further drilling is needed to bring them up to CIM Definition Standards. The historic data has not been verified by Rover. The historic information is provided in the 2103 Assessment Report for Indian Mountain Lake which is in public record with the Government of the Northwest Territories. Technical information has been approved by Gary Vivian, M.Sc., P.Geo., QP for the purposes of NI 43-101.

The Company’s management believes that the Indian Mountain Lake VMS Project has the potential to be a Tier 1 Zinc and Copper project. The historical resource represents only 3% of the total land package. The blue sky on the remaining 97% of the greenstone belt is: (1) for additional zinc resources and (2) a significant new copper discovery. Historical workings also document the presence of copper-gold skarn systems. The historic zones are open along strike and below a vertical depth of 150 meters.

In Canada, Zinc and Copper are on the Federal Government’s Critical Minerals List, and part of the Canadian Government’s Critical Minerals Strategy. As a result, the project qualifies for the 30% critical mineral flow-through investor tax credit. Zinc-Copper-Lead-Silver are also on the U.S. Critical Minerals List.

Metals trades under the symbol “ROVR” on the TSXV. Rover also obtained a public co-listing of its securities on the OTCQB on January 17, 2019 (OTCQB: ROVMF), and on the Frankfurt Stock Exchange on February 1, 2021 (FRA: 4XO).

On August 9, 2018, Rover Metals acquired a 100% interest in the Cabin Lake Property completing its area play for the Cabin Lake Group of Gold Projects. The Cabin Lake Group of Gold Projects are located 110 km northwest of Yellowknife and 20 km southeast of Fortune Minerals’ NICO Project and close to the new Tlicho All Season Road. The properties hosts high-grade gold in iron formation in archean metasedimentary.

On September 9, 2016, Rover Metals Optioned up to a 100% interest in the Up Town Gold Property. The Up Town Gold Property is a high grade Archean lode gold prospect adjoining the Giant Mine in Yellowknife, Northwest Territories. The Property consists of 6 claims covering 3,227 hectares and borders the west side of the Giant Mine leases. The Property centre is approximately 6 km north from downtown Yellowknife, and adjoins Gold Terra’s Northbelt claims.

Website: https://rovermetals.com/index.html
Corporate Presentation: https://rovermetals.com/pitchdeck/ROVR-presentation.pdf

Fact Sheet: https://rovermetals.com/s/Rover_FactSheet_v07-letter_web.pdf

Website | https://www.provenandprobable.com

Contact: Contact@provenandprobable.com

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

Proven and Probable
Where we deliver Mining Insights & Bullion Sales. I’m a licensed broker for Miles Franklin Precious Metals Investments, where we provide unlimited options to expand your precious metals portfolio, from physical delivery, offshore depositories, and precious metals IRA’s. Call me directly at (855) 505-1900 or you may email maurice@milesfranklin.com.

Proven and Probable provides insights on mining companies, junior miners, gold mining stocks, uranium, silver, platinum, zinc & copper mining stocks, silver and gold bullion in Canada, the US, Australia, and beyond.

Tags #InvestingInBatteryMetals, #InvestingInCopper, #JuniorMining, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, canadian gold company stocks, Canadian Mining Stocks, JudsonCulter, RoverMetals, ROVR

Base Metals Junior Mining Metallic Group Precious Metals Stillwater Critical Minerals

Stillwater Critical Minerals Congratulates Heritage Mining on their Initial Public Offering

Post author By admin
Post date August 30, 2022

VANCOUVER, BC / ACCESSWIRE / August 30, 2022 / Stillwater Critical Minerals (formerly Group Ten Metals) (TSXV:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) congratulates Heritage Mining Ltd. (“Heritage”) for completion of their Initial Public Offering (“IPO”) and commencement of trading on the Canadian Securities Exchange under the symbol HML.

Under an earn-in agreement with SWCM announced November 29, 2021 (“the Agreement”), Heritage can acquire up to a 90% interest in the Drayton-Black Lake gold project in Ontario by completing cash and share payments totaling $320,000 and 7,200,000, respectively, and completing exploration and development work totaling $5,000,000 by the fourth anniversary of the Agreement.

The Agreement also provides SWCM with a 10% carried interest through completion of a feasibility study and includes potential success-based discovery payments of $1.00 per ounce of gold or gold equivalent on mineral resource estimates as filed from time-to-time on Drayton-Black Lake. Success-based payments are capped at a maximum of $10,000,000 and may be paid in cash or shares at Heritage’s discretion. At SWCM’s discretion, Heritage may own 100% of the project, with SWCM retaining an NSR royalty interest. Heritage has confirmed that issuance of 2,800,000 shares, required as a first tranche per the Agreement, is in progress and acknowledges the requirement for a cash payment of $150,000 within 10 days of the one-year anniversary of the Agreement.

Michael Rowley, SWCM’s President and CEO, commented, “Our heartiest congratulations to Heritage Mining for completing their IPO. This achievement is not only an important milestone in our agreement with them but is also one that sets the stage for our mutual success as they advance the Drayton-Black Lake project as their flagship asset. Heritage is off to a great start with a large and highly prospective land package in a producing yet underexplored high-grade district and a team with strong local expertise. gold belt. We expect our agreement with Heritage to be the first in a series of deals whereby we realize significant value for our non-core assets as part of our focus on battery and precious metals at Stillwater West, in Montana’s Stillwater Igneous Complex.”

Heritage Mining’s CEO, Peter Schloo stated, “Completing the IPO is a pivotal moment for Heritage. District-scale exploration assets are very rare, and the project’s location in Ontario’s producing Rainy River district adjacent to Treasury Metals’ Goliath Gold Complex makes it even more compelling. We are well-capitalized and excited about the potential of the Drayton-Black Lake project, and we look forward to reporting on our progress and the targets we have developed there.”

About the Drayton-Black Lake Gold Project

The Drayton-Black Lake project consists of over 142 square kilometers in the Abrams‐Minnitaki Lake Archean greenstone belt, along the northern margin of the Wabigoon sub-province in Ontario, Canada. This emerging gold belt has already produced over one million ounces gold¹ and currently hosts 6.6 million ounces of gold in Reserves and Measured and Indicated resources in total among New Gold’s Rainy River Mine, Treasury Metals’ Goliath Gold Complex, and First Mining’s Cameron gold project². Drayton-Black Lake has significant exploration potential with demonstrated high-grade gold in drill results and bulk samples across more than 30 kilometers of underexplored strike in a geologic setting that is shared with Treasury Metals’ development-stage Goliath Gold Complex project. Access and infrastructure are excellent on the project, which features direct road access and proximity to rail and power. The project features well-defined, near-term drill targets over four zones, based on over 100 years of exploration data from 176 diamond drill holes totaling approximately 20km that had never been compiled until 2022.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1480989%253B1481489%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1480989%253B1481489%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Mining_engineering%253BCanadian_Securities_Exchange%253BNatural_resource%253BExploration%253BInitial_public_offering%253BPrecious_metal%253BMineral%253BNew_Gold%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%2522f7bb1360-0dab-3a4d-8e1e-8e30f01e3037%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

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 Drayton-Black Lake 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’s district-scale Kluane PGE-Ni-Cu-Co project is on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large, brownfield assets in established mining districts adjacent to some of the industry’s highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Granite Creek Copper in the Yukon’s high-grade Minto copper district, and Stillwater Critical Minerals in the Stillwater PGM-nickel-copper district of Montana. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorers/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTC, and Frankfurt stock exchanges.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director

Email: info@criticalminerals.com
Phone: (604) 357 4790
Toll Free: (888) 432 0075
Web: http://criticalminerals.com

Footnotes: 1 – New Gold company reports; 2 – Totals include Rainy River Mineral Reserves and Mineral Resources https://newgold.com/assets/reserves-and-resources/default.aspx, Goliath Gold Complex Mineral Resources Treasury Metals https://treasurymetals.com/site/assets/files/4272/goliath_gold_complex_ni_43-101_resource_estimate_f.pdf and First Mining’s Cameron project Mineral Resources https://www.firstmininggold.com/assets/other-wholly-owned/cameron-project/

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 projects. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is currently insufficient exploration to define these Inferred mineral resources as Indicated or Measured mineral resources and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.

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.

SOURCE: Stillwater Critical Minerals

View source version on accesswire.com:
https://www.accesswire.com/713962/Stillwater-Critical-Minerals-Congratulates-Heritage-Mining-on-their-Initial-Public-Offering

Tags #JuniorMining, #MauriceJackson, #MichaelRowley, #MilesFranklin, #PreciousMetals, #ProvenAndProbable, #StillwaterCriticalMinerals, #StillwaterWest, Greg Johnson

Junior Mining Labrador Gold Precious Metals

Labrador Gold Announces Assays Up to 479.5G/T Au in Surface Samples From Golden Glove

Post author By admin
Post date August 23, 2022

Figure 1.

Portion of Sample 853601 showing visible gold grains in quartz and country rock.

Figure 2.

Location map of Kingsway gold occurrences showing recent results at Golden Glove.

TORONTO, Aug. 23, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce assays from six samples containing visible gold recently collected during prospecting in the Golden Glove area at its 100% owned Kingsway Project. The samples were collected as part of the Company’s continuous efforts to generate and upgrade targets for drilling along the 12km strike length of the Appleton Fault Zone covered by the Kingsway Property.

The samples were taken from quartz veins believed to be splays off the original Golden Glove vein. Assays of the six samples ranged from 7.51 g/t to 479.51 g/t Au. The quartz veins are hosted by grey and black shales and are typically vuggy and locally stylolitic with iron carbonate alteration. The four highest grade samples contain visible gold, and all samples contain between 2 and 5% pyrite and arsenopyrite both in the vein and along the contact with the shale wallrock. These results are comparable to assays from the initial samples taken at Golden Glove that ranged from 2.99 to 338.08g/t Au (see news release dated September 21, 2021).

“The discovery of more veins containing high-grade gold at surface is encouraging as it gives us additional information on the structural context of the mineralization at Golden Glove and will allow more efficient drill targeting.” said Roger Moss, President and CEO. “Drilling to date has been following up recent high-grade intersections of 20.07 g/t Au over 1m in Hole K-22-154 and 6.22 g/t Au over 4m in hole K-22-150 located approximately 160m south of the discovery outcrop. Given the high-grade nature of these veins we will certainly look to specifically target them in our ongoing drilling at Golden Glove.”

Sample ID	Sample type	Rock Type	Au (g/t)
853601*	Grab	Quartz Vein	479.51
853602*	Grab	Quartz Vein	81.49
853603*	Grab	Quartz Vein	114.72
853604*	Grab	Quartz Vein	34.90
853605	Grab	Quartz Vein	7.51
853606	Grab	Quartz Vein	12.25

* Sample contains visible gold. Note that grab samples are select samples and
are not necessarily representative of gold mineralization found on the property.

Figure 1. Portion of Sample 853601 showing visible gold grains in quartz and country rock.
https://www.globenewswire.com/NewsRoom/AttachmentNg/535e38c4-278d-4f70-8798-e2338a3eae1a

Figure 2. Location map of Kingsway gold occurrences showing recent results at Golden Glove.
https://www.globenewswire.com/NewsRoom/AttachmentNg/fea783dc-89b0-40f2-9eb0-46afd5858897

QA/QC

All samples are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples were assayed by metallic screen/fire assay. The whole sample is crushed to -10mesh and pulverized to 95% -150mesh. The total sample is then weighed and screened through 150mesh. Both the +150mesh fraction and a 30g subsample of the -150mesh fraction are fire assayed for Au and a calculated weighted average of total Au in the sample is reported. The company routinely 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 $25 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 25^th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

The Company has 169,189,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB and on the OTCQX under the symbol NKOSF.

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 #JuniorMining, #KingswayGoldProject, #LabradorGold, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, Appleton Fault Zone, canadian gold company stocks, Canadian Mining Stocks, Golden Glove, LAB, Roger Moss

Gold Shore Resources Junior Mining Precious Metals

Goldshore Sampling of Historic Core Expands Mineralization with 104.2m at 1.04 g/t Au and Identifies New Parallel Zone

Post author By admin
Post date August 23, 2022

Vancouver, British Columbia–(Newsfile Corp. – August 23, 2022) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“), is pleased to announce assay results from previously unsampled historic drill core at the Moss Lake Project in Northwest Ontario, Canada (the “Moss Lake Gold Project”).

Goldshore’s team has retrieved historical core that remains on the Moss Lake Gold Project where the drill collars have been recovered and accurately surveyed. Prior operators selectively sampled core that fit with the model used at the time. This core is now being relogged and sampled by Goldshore. This presents an excellent, cost-effective opportunity for Goldshore to generate significant results without new drilling, particularly in those holes that coincide with Goldshore’s identified targets. This news release presents results from six such historical holes where sampling by prior operators was incomplete.

Highlights:

Sampling of unsampled sections of two historic drill holes at the QES Zone have increased the width and grade of gold mineralization over that previously reported. The expanded intercepts include:
- 104.2m @ 1.04 g/t Au from 422.0m in NS247, including
  - 19.40m @ 2.66 g/t Au from 458.6m
  - This section includes the visible gold reported on April 19, 2022
  - The hole ended in mineralization
- 56.1m @ 0.42 g/t Au from 493.5m in NS248
Sampling has also identified a new southern parallel zone that was previously unrecognized, including:
- 9.30m @ 1.28 g/t Au from 244.6m depth, including
  - 0.9m @ 10.95 g/t from 253.0m
- 0.9m @ 35.7 g/t Au from 271.65m and
- 78.45m @ 0.35 g/t Au from 331.55m in NS247
- 69.10m @ 0.49 g/t Au from 413.0m in NS248
Additional sampling of four drillholes assessing regional prospects confirmed initial results.

President and CEO Brett Richards stated: “All of the work we have conducted at Moss Lake, whether new drilling results or sampling and analysis of the historic drilling, all indicates that the extent of mineralization is far greater than the footprint of the historical resource. These results indicate yet another parallel zone of mineralization not previously identified and will provide new high quality drill targets in the future; as well as meaningful data when conducting the resource estimation.”

Technical Overview

Table 1 shows the significant intercepts. Table 2 and Figure 1 show the drill hole locations.

Figure 1: 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:
https://images.newsfilecorp.com/files/8051/134517_10b59bccd42b0b57_002full.jpg

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)
ML-02-006

ML-04-016	156.20	181.50	25.30	19.4	0.51	0.51
	206.80	215.90	9.10	7.0	0.73	0.73
	270.20	276.20	6.00	4.6	0.86	0.86

ML-04-017

ML-04-018	111.00	118.20	7.20	4.9	0.34	0.34

NS247	66.20	69.00	2.80	1.2	0.44	0.44
	85.95	96.15	10.20	4.2	0.54	0.54
	121.00	123.45	2.45	1.0	0.44	0.44
	244.60	253.90	9.30	4.4	1.28	1.28
including	253.00	253.90	0.90	0.4	11.0	11.0
	271.65	272.55	0.90	0.4	30.0	35.7
	331.55	410.00	78.45	39.8	0.35	0.35
	422.00	526.20	104.20	54.4	1.04	1.04
including	458.60	478.00	19.40	10.1	2.66	2.66
	542.20	550.00	7.80	4.5	0.79	0.79
			0.00	0.0
NS248	33.50	43.10	9.60	4.4	0.67	0.67
	308.00	312.40	4.40	2.4	0.44	0.44
	353.00	367.70	14.70	7.9	0.79	0.79
	413.00	482.10	69.10	42.1	0.49	0.49
	493.50	549.60	56.10	36.1	0.42	0.42

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. The fact that cut and uncut assays are the same, shows that all samples assayed less than the 30 g/t Au top cut.

Table 2: Location of drill holes in this press release

HOLE	EAST	NORTH	RL	AZIMUTH	DIP	EOH
ML-02-006	670011	5379164	429	155	-45°	318.91m
ML-04-016	671016	5378230	429	156°	-45°	300m
ML-04-017	671039	5377982	429	336	-45°	132m
ML-04-018	671050	5377959	429	336	-45°	171m
NS247	670352	5379453	434	336°	-69°	550m
NS248	669958	5379129	429	336°	-65°	647m
Approximate collar coordinates in NAD 83, Zone 15N

Results have been received for six historical holes that were incompletely sampled in the past and have now been more completely sampled to fully assess the intersected mineralized zones. Two holes (NS247 and NS248) targeted the QES Zone and four holes (ML-02-006, ML-04-016, ML-04-017, and ML-04-018) tested regional prospects south of the Moss Lake Project.

Assays from new sampling at NS247 and NS248 have expanded the widths of the known mineralized intercepts and identified a new parallel zone to the south of QES. They show that gold mineralization at Moss Lake is wider than previously believed and contains additional higher-grade structures beyond that defined by historic drilling. Step back drilling of the QES Zone has begun to determine the extent of the new parallel zones south of the QES Zone.

The broad zone of 104.2m @ 1.04 g/t Au from 422.0m in NS247 compares to an historic interval of 104.2m @ 0.88 g/t Au if the unsampled intervals are assigned zero grade, which seems to be what previous geologists thought. Similarly, the interval 56.1m @ 0.42 g/t Au from 493.5m in NS248 compares to an historic interval of 56.1m @ 0.31 g/t Au.

The high-grade section of NS247(19.40m @ 2.66 g/t Au from 458.6m) includes a narrow quartz-pyrite-chalcopyrite vein zone with visible gold that was reported on April 19, 2022. Surprisingly, this interval returned only 0.3m @ 1.01 g/t Au from 546.8m highlighting the nuggetty nature of gold mineralization. The drill hole ended in gold mineralization suggesting that the mineralized zone is wider.

Infill sampling of ML-04-016 and ML-04-018 yielded minor increases to the width of historic intercepts. No additional mineralized zones were identified in any of the four holes.

Several additional holes have been identified as having unsampled intervals within mineralized drill core. Historical core archives are being reexamined to locate, identify, and recover drill core for further infill sampling.

Pete Flindell, VP Exploration for Goldshore, said “These drill results confirm our contention that previous explorers did not assess the full scale of gold mineralization at Moss Lake. As such, Moss Lake holds significant potential to be a larger gold system. Our assessment of historic drill core will continue in parallel with our 100,000-meter drill program.”

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.

About Goldshore

Goldshore is an emerging junior gold development company, and owns the Moss Lake Gold Project located in Ontario. Wesdome is currently a large 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.

The Moss Lake Gold Project 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 (the “Moss Lake Historical Estimate“) was completed on the Moss Lake Gold Project in 2013 and published by Moss Lake Gold Mines Ltd. (“Moss Lake Gold Mines“)¹^,³. A historical mineral resource estimate (the “East Coldstream Historical 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 Gold Mines Ltd. (“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 Historical 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 Historical 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. “Technical Report and Preliminary Economic Assessment for the Moss Lake Project”, prepared for Moss Lake Gold Mines Ltd. The qualified persons for the Moss Lake Historical Estimate are Pierre-Luc Richard, MSc, PGeo (InnovExplo Inc), and Carl Pelletier, BSc, PGeo (InnovExplo Inc), and the effective date of the Moss Lake Historical Estimate is February 8, 2013. In-Pit results are presented undiluted and in situ, within Whittle-optimized pit shells. Underground results are presented undiluted and in situ, outside Whittle-optimized pit shells. The Moss Lake Historical Estimate includes 18 gold-bearing zones and 1 envelope containing isolated gold intercepts. Whittle parameters: mining cost = C$2.28; pit slope angle = 50.0 degrees; production cost = C$9.55; mining Dilution = 5%; mining recovery = 95%; processing recovery = 80% to 85%; gold price = C$1,500. In-Pit and Underground resources were compiled at cut-off grades from 0.3 to 5.0 g/t Au (for sensitivity characterization). A cut-off grade of 0.5 g/t Au was selected as the official in-pit cut-off grade and a cut-off grade of 2.0 g/t Au was selected as the official underground cut-off grade. The Moss Lake Historical Estimate is based on 352 diamond drill holes (90,978 m) drilled from 1983 and 2008. A fixed density of 2.78 g/cm3 was used. A minimum true thickness of 5.0 m was applied, using the grade of the adjacent material when assayed or a value of zero when not assayed. Capping was established at 35 g/t Au, supported by statistical analysis and the high grade distribution within the deposit. Compositing was done on drill hole sections falling within the mineralized zone solids (composite = 1 m). Resources were evaluated from drill hole samples using the ID2 interpolation method in a multi-folder percent block model using Gems version 6.4. Based on geostatistics, the ellipse range for interpolation was 75m x 67.5m x 40m. The Indicated category is defined by combining the blocks within the two main zones and various statistical criteria, such as average distance to composites, distance to closest composite, quantity of drill holes within the search area. Ounce (troy) = metric tons x grade / 31.10348. Calculations used metric units (metres, tonnes and g/t). The number of metric tonnes was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations in NI 43-101.
(2) Source: McCracken, T. “Technical Report and Resource Estimate on the Osmani Gold Deposit, Coldstream Property, Northwestern Ontario”, prepared for Foundation Resources Inc. and Alto Ventures Ltd. The East Coldstream Historical Estimate is based on a 0.4 g/t Au cut-off grade. The qualified persons for the East Coldstream Historical Estimate are Todd McCracken, P.Geo. (Tetratech Wardrop), and Jeff Wilson, Ph.D., P.Geo. (Tetratech Wardrop), and the effective date of the East Coldstream Historical Estimate is December 12, 2011. Resources are presented unconstrained, undiluted and in situ. The East Coldstream Historical Estimate includes 2 gold-bearing zones. A cut-off grade of 0.4 g/t Au was selected as the official resource cut-off grade. The East Coldstream Historical Estimate is based on 116 diamond drill holes drilled from 1986 to 2011. A fixed density of 2.78 g/cm3 was used. Capping was established at 5.89 g/t Au and 5.70 g/t Au for domains EC-1 and EC-2, respectively. This is supported by statistical analysis and the high grade distribution within the deposit. Compositing was done on drill hole sections falling within the mineralized zone solids (composite = 1 m). Resources were evaluated from drill hole samples using the ID2 interpolation method in a multi-folder percent block model using Datamine Studio 3 version 3.20.5321.0. Recource categorization is based on spatial continuity based from the variography of the assays within the drillholes. Ounce (troy) = metric tons x grade / 31.10348. Calculations used metric units (metres, tonnes and g/t). The number of metric tonnes was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations in NI 43-101.
(3) The reader is cautioned that the Moss Lake Historical Estimate East and the East Coldstream Historical Estimate (the “Historical Estimates“) are considered historical in nature and as such is based on prior data and reports prepared by previous property owners. The reader is cautioned not to treat them, or any part of them, as current mineral resources or reserves. The Company has determined these historical resources are reliable, and relevant to be included here in that they demonstrate simply the mineral potential of the Moss Lake Gold Project. 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 Estimates 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. The Historical Estimates relating to inferred mineral resources were calculated using prior mining industry standard definitions and practices for estimating mineral resource and mineral reserves. Such prior definitions and practices were utilized prior to the implementation of the current standards of the Canadian Institute of Mining for mineral resource estimation, and have a lower level of confidence.

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, P.Geo., 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134517

Tags #BrettRichards, #GoldShoreResources, #JuniorMining, #MauriceJackson, #MossLakeProject, #PreciousMetals, #ProvenAndProbable, GSHR, maurice jackson

Junior Mining Precious Metals

Is Gold a safeguard in times of recession?

Post author By admin
Post date August 5, 2022

By Luis Eduardo Azevedo

The current inflation of the United States is a concern to the whole world’s economy, and many believe that the scenario will only get worse. In order to contain the situation, the Fed is constantly raising interest rates. James Rickards, an economist and investment banker, believes that the interest rate could get as high as 5% in the near future. Also, the EUR/USD=x is currently at a five-year low and every time this ratio goes down, the interest rate goes up.

In opposition to a common belief that printing a lot of money equals high inflation, the government has been printing trillions of dollars in recent years even though the inflation never went further than 3%. The current inflationary type is the cost inflation. It occurs when prices rise due to increases in production costs such as wages and raw materials. In addition to this scenario, the employment rate went down to 59%.

One of the factors that have contributed to this crisis are the war sanctions against Russia. The biggest country in the world has negotiated more oil and natural gas at higher prices than before the Ukraine war, causing a slowdown in global production. Also, the BRICS is expecting Egypt, Saudi Arabia and Turkey to join their organization soon. They are working on an alternative reserve currency that would rival the IMF’s SD, the contingent Reserves Arrangement. Moreover, China is developing a new way to buy gold using the digital yuan, the Shanghai gold exchange.

Turkey also wants to ditch the dollar and start buying energy from Russia using other currencies. The same goes for India, which is now accepting rupees for payments and is activating a new shorter corridor to Russia, making it far easier to import and export.

All countries mentioned in the last two paragraphs, together with other 139 countries, are participating in the Belt and Road initiative. It is a strategy that seeks to connect Asia with Africa and Europe via land and maritime networks, looking forward to improving regional integration, increasing trade and stimulating economic growth.

If all this comes to fruition, 75% of the world’s population and 45% of the world’s GDP would be using another reserve currency, Saudi Arabia would open oil sales and all these countries would decrease their use of American dollars. With all these dollars coming back to the United States’ economy, hyperinflation would be a sure thing.

All these issues have contributed to the current recession and confirm that the world is creeping towards de-dollarisation.

As we have seen during other periods of high inflation in history, like the 1970s when it averaged 7% a year, assets with value, virtue, safety, and scarcity such as gold outperformed the stock market by a lot. The reason this metal is an excellent asset to protect your money from depreciation is because it has a positive correlation with inflation rates. In other words, the price of gold increases with inflation.

For example, from 1970 to 1974 inflation went as high as 12% a year. During that span of time, The Dow Industrial Average depreciated about 40% while gold went from $35/ounce to $180/ounce. As you can see gold is so valued that it joined the U.S. as the only tier #1 assets in the world.

Given all these facts, it is safe to say that the American dollar and the United States are losing their dominance over the world’s economy and gold is one of the best assets to protect your money from this scenario.

Text citations

● Kenton, W. (2022, March 27). Cost-push inflation. Investopedia. Retrieved July 27, 2022, from

https://www.investopedia.com/terms/c/costpushinflation.asp#:~:text=Key%20Takeaways,total%20production).

● Rickards, J. (2022, June 2). James Rickards. Wikipedia. Retrieved July 27, 2022, from

https://en.m.wikipedia.org/wiki/James_Rickards#:~:text=James%20G.,He%20lives%20in%20New%20Hampshire.

● Cox, J. (2022, July 26). The numbers show the U.S. economy is at least teetering on a recession. CNBC. Retrieved July 27, 2022, from

https://www.cnbc.com/2022/07/25/the-numbers-show-the-us-economy-is-at-least-teetering-on-a-recession.html

● Gallant, C. (2022, July 8). How central banks can increase or decrease money supply. Investopedia. Retrieved July 28, 2022, from

https://www.investopedia.com/ask/answers/07/central-banks.asp

● EBRD, E. B. for R. and D. (n.d.). Belt and road initiative (BRI). European Bank for Reconstruction and Development (EBRD). Retrieved July 29, 2022, from

https://www.ebrd.com/what-we-do/belt-and-road/overview.html

● Kramer, L. (2022, June 28). The great inflation of the 1970s. Investopedia. Retrieved July 29, 2022, from

https://www.investopedia.com/articles/economics/09/1970s-great-inflation.asp#:~:text=It%20grew%20from%20%24228%20billion,to%20Federal%20Reserve%20Board%20numbers.&text=In%20the%20winters%20of%201972,it%20would%20go%20to%2012%25.

● WANG, C. N. E. D. O. P. I. L. (n.d.). Countries of the belt and road initiative (BRI). Green Finance & Development Center. Retrieved July 29, 2022, from

https://greenfdc.org/countries-of-the-belt-and-road-initiative-bri/#:~:text=In%20March%202022%2C%20the%20number,)%20with%20China%20is%20147*.&text=The%20countries%20of%20the%20Belt,are%20in%20Sub%2DSaharan%20Africa

● Wikipedia. (2021, September 10). 1973–1974 stock market crash. Wikipedia. Retrieved July 29, 2022, from

https://en.m.wikipedia.org/wiki/1973%E2%80%931974_stock_market_crash

Tags #JuniorMining, #MauriceJackson, #MilesFranklin, #PreciousMetals, #ProvenAndProbable

Diamcor Mining Junior Mining

Diamcor Announces Application for a Management Cease Trade Order

Post author By admin
Post date July 31, 2022

Shares Issued and Outstanding: 120,320,746

KELOWNA, BC / ACCESSWIRE / July 29, 2022 / Diamcor Mining Inc. (TSXV.DMI / OTCQB-DMIFF / FRA-DC3A), (the “Company“) announces that due to ongoing delays in South Africa noted below, the Company will be unable to file its audited financial statements and corresponding management’s discussion and analysis for the year ended March 31, 2022 (collectively, the “Financial Disclosure“) on or before the prescribed filing deadline of July 29, 2022 as required by National Instrument 51-102 – Continuous Disclosure Obligations.

The Company’s mining operations are located in South Africa, which has been experiencing Stage 6 load-shedding (also known as rolling blackouts) this month by the state-owned electricity utility, Eskom. The reasons for the delay in filing include the inability to complete the South African portion of the Company’s annual audit in normal time frames as a result of ongoing delays relating to the power load-shedding implemented by Eskom, and the Canadian auditors’ inability to complete their audit due to reliance on the finalization of audit work in South Africa.

The Company is working with its auditors on the remaining items to allow for the audit of the financial statements for the year ended March 31, 2022 to be completed. The Company anticipates that it will be in a position to file its Financial Disclosure before August 31, 2022. The Company confirms that it will comply with the alternative information guidelines included in National Policy 12-203 – Management Cease Trade Orders, for so long as it remains in default of a specified requirement.

The Company has filed an application with the British Columbia Securities Commission and the Alberta Securities Commission requesting that they issue a management cease trade order against the Company’s Directors, Officers and Insiders instead of a cease trade order against the Company and all of its securityholders.

As has been widely reported, South Africa’s state-owned power supplier Eskom was forced to implement significant load-shedding measures over a period of several weeks. The load-shedding measures were varied depending on power reduction requirements, but resulted in power blackouts several times per day over a period of weeks. The frequency of these power blackouts limited the ability of the majority of businesses in South Africa to operate as normal, and resulted in various operational and administrative delays for the Company.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%2522South_Africa%253BTiffany_%2526_Co.%253BCompany%253BFinancial_statement%253BTSX_Venture_Exchange%253BFinancial_disclosure_of_public_servants%253BEskom%253BAlberta_Securities_Commission%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%25227fe2adb3-eb6e-3a3b-b496-4fe5d107cf3c%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

About Diamcor Mining Inc.

Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.

About the Tiffany & Co. Alliance

The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.

About Krone-Endora at Venetia

In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. The deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.

Qualified Person Statement:

Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.

On behalf of the Board of Directors

Mr. Dean H. Taylor
President & CEO Diamcor Mining Inc.
Deant@diamcor.com
Tel (250) 864-3326
www.diamcormining.com

Statement Regarding Forward-Looking Information

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

Forward-looking statements in this document include statements concerning the Company’s intent to file the Financial Disclosure before August 31, 2022 and all other statements that are not statements of historical fact.

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, 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. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with adverse industry events; future legislative and regulatory developments; COVID-19 and other assumptions, risks and uncertainties.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.

WE SEEK SAFE HARBOUR

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.

SOURCE: Diamcor Mining Inc.

View source version on accesswire.com:
https://www.accesswire.com/710304/Diamcor-Announces-Application-for-a-Management-Cease-Trade-Order

Tags #DeanTaylor, #DiamcorMining, #DMI, #InvestingInBatteryMetals, #JuniorMining, #MauriceJackson, #PreciousMetals, #ProvenAndProbable

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Tag: #PreciousMetals

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