Tag: #PreciousMetals

(VIDEO) Metallic Minerals Initiates 2022 Exploration Program at Keno Silver Project in Yukon, Canada

Post author By admin
Post date July 13, 2022

VANCOUVER, BC / ACCESSWIRE / July 13, 2022 / Metallic Minerals (TSXV:MMG | US OTCQB:MMNGF) (“Metallic Minerals“, or the “Company“) announces the commencement of field activities at the Company’s 100% owned, 166 square kilometer Keno Silver project, located in the historic Keno Hill silver district of Canada’s Yukon Territory. In July 2022, Hecla Mining Company (“Hecla”), the largest silver producer in the United States and third largest in the world¹, announced the acquisition of neighboring Alexco Resource Corp.(“Alexco”), which holds the western portion of the district and mining and milling operations. Metallic Minerals owns the second largest land position in the prolific district covering the east, and parts of central and western Keno Hill, including eight high-grade, shallow past-producing deposits.

The 2022 exploration program is expected to consist of at least 3,000 meters of diamond core drilling, focused on resource definition drilling at multiple advanced-stage targets including Formo and Caribou deposits in the West Keno and Central Keno areas and the recently discovered Fox target area in East Keno, as well as step out drilling at several new discoveries. Detailed geophysical and soil surveys will also be conducted to aid in refinement and prioritization of reconnaissance drill targets in several untested target areas. Additionally, for the first time, the district will be flown for a LIDAR survey, which will provide greater precision in survey and topographic control while aiding in lineament detection in the search for new Keno-style high-grade silver discoveries.

Metallic Minerals President, Scott Petsel, commented: “We are excited to be initiating our 2022 field campaign at the Keno Silver project, particularly in the wake of the recently announced acquisition of our neighbors at Alexco by Hecla. This is a re-energizing catalyst for the Keno Hill silver district and highlights the quality of the existing reserves and resources and the exploration potential in one of the world’s highest grade silver producing regions that has produced over 200 million ounces of ultra-high-grade silver. We have enjoyed a close and productive working relationship with the team at Alexco and are excited to see the mining operation reach its full potential.”

Metallic Minerals Corp., Tuesday, July 12, 2022, Press release picture

“Metallic Minerals is on the cusp of transforming our own story in the Keno silver district as this year’s drill program is focused on advancing existing mineral inventories to formal NI 43-101 resources at our most advanced targets. In addition, we expect to announce commencement of field activity at our La Plata silver-gold-copper project in Colorado shortly, as well as updates with regard to planned activities on our Klondike alluvial gold royalty portfolio.”

Private Placement

Metallic has completed and closed its second non-brokered private placement financing for total proceeds raised of $4,649,820. Proceeds from the two private placements will be used toward eligible Canadian exploration expenses, within the meaning of the Income Tax Act (Canada) and for general working capital.

The second private placement consisted of the issuance of 1,471,000 units at a price of $0.42 per unit for aggregate proceeds of $617,820. Each unit consisted of one common share and one-half purchase warrant where each whole warrant is exercisable into a common share for 30 months at a price of $0.50. A total of 846,000 units were sold on a flow-through basis with the common share comprising the units being issued as a flow-through common share.

The common shares comprising the units are subject to a hold period of four months and one day from their date of issuance under applicable Canadian securities law. The flow-through shares have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

An officer of the company participated in the private placement for a total of 25,000 units. The participation by the insider in the private placement is considered to be a related party transaction as defined under Multilateral Instrument 61-101. The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities being issued, nor the consideration being paid exceeds 25% of the Company’s market capitalization.

About the Keno Silver Project

Keno Hill is one of the world’s highest-grade silver districts, with nearly 300 million ounces (“Moz”) of silver in past production and current M&I resources^1,2 and featuring excellent existing infrastructure, including grid power, road access and nearby community services. In July 2022, Hecla announced the acquisition of Alexco Resource Corp, which holds the western portion of the district and mining and milling operations. Metallic Minerals’ Keno Silver project is adjacent and contiguous, covering the east, and parts of the central and western Keno silver district and includes eight high-grade, shallow past-producing mines. Prior to the Company’s consolidation of the land package, very little modern exploration had been completed in these parts of the district due to fragmented, private land ownership. Metallic Minerals has advanced three targets in the district from discovery to expansion drilling with several additional targets at drill-ready status along the known historically productive trends. In addition, recent exploration has defined and expanded 12 new priority multi-kilometer-scale early-stage targets for reconnaissance drilling in the under-explored parts of the district where highly elevated silver, lead and zinc in soils and high-grade rock samples have been identified.

2022 Drilling at Fox Target at East Keno

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 to Alexco Resource Corp’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 fourth largest in the world, announced the acquisition of Alexco in July 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.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

See Hecla news release dated July 5, 2022, entitled, “Hecla Acquires Alexco Resource” and Hecla Mining website disclosure: https://www.hecla.com/investors/why-hecla

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 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.

Tags #GregJohnson, #InvestingInBatteryMetals, #InvestingInCopper, #JuniorMining, #KenoSilverProject, #LaPlata, #MauriceJackson, #MetallicGroup, #MetallicMinerals, #MilesFranklin, #MMG, #PreciousMetals, #ProvenAndProbable, #ScottPetsel

Exclusive Interviews Junior Mining Precious Metals

(VIDEO) Labrador Gold – Announces 284.1 G/T Gold from Big Vein

Post author By admin
Post date July 11, 2022

Joining us for a conversation is Dr. Roger Moss the CEO as Labrador Gold has just announced its highest-grade mineralization coming from the Big Vein along with updates on the Golden Glove and Midway Targets on the 100% owned Kingsway Project.

Labrador Gold is a Canadian-based mineral exploration (junior mining) company focused on the acquisition and exploration of prospective gold projects in Eastern Canada. The Company is advancing the Kingsway Gold Project, located in the Gander Gold District of Newfoundland. The project is strategically located contiguous to New Found Gold’s Queensway Project and lies along strike to the northeast of their recent discovery of 92.86g/t Au over 19.0 meters.

Key Shareholders: Eric Sprott, Quinton Hennigh, Crescat Capital, Palisaides Goldcorp, & New Found Gold.

Labrador Gold: https://labradorgold.com/
Ticker: TSX.V: LAB | OTCQX: NKOSF
Corporate Presentation: https://labradorgold.com/investors/presentations/
Telephone: (416) 704-8291
Email: info@labradorgold.com

Labrador Gold is partner/sponsor and we are shareholders.

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

Precious Metals

Inflation IS Money Supply Growth, Not Prices Denominated in Money

Post author By admin
Post date July 11, 2022

07/09/2022Frank Shostak

In the recent Wall Street Journal article “Inflation Surge Earns Monetarism Another Look,” Greg Ip writes that a recent surge in inflation is not likely to bring authorities to reembrace monetarism. According to Ip, money supply had a poor record of predicting US inflation because of conceptual and definitional problems that haven’t gone away.

The head of the monetarist school, the late Milton Friedman, held that inflation is always and everywhere a monetary phenomenon. Friedman and other monetarists believed that the key driving factor for general increases in prices is increases in money supply.

This viewpoint has come under scrutiny since the early 1980s because the correlation between inflation and money supply disappeared. According to Ip in 2020, Alan Detmeister, an economist at UBS Group AG and formerly of the Fed, found inflation’s correlation to M2 since the early 1980s was weak and its correlation to both the monetary base and M1 was negative. Most economists have stopped using money supply as an indicator for inflation since the early 1980s.

Many mainstream economists have attributed the breakdown in the correlation between the money supply and inflation on the unstable velocity of money. What is it? According to the famous equation of exchange, MV = PT, where:

M stands for money,

V stands for the velocity of money,

P stands for the price level, and

T for the volume of transactions.

This equation states that money multiplied by velocity equals the value of transactions. Many economists employ GDP (gross domestic product) instead of PT, thereby concluding that

MV = GDP = P (real GDP).

The equation of exchange appears to offer a wealth of information regarding the state of an economy. For instance, if one were to assume stable velocity, then for a given stock of money one can establish the value of GDP. Furthermore, a given real output and a given stock of money enables us to establish the price level.

For most economists the equation of exchange is regarded as a very useful analytical tool. The debates that economists have are predominantly with respect to the stability of velocity. If velocity is stable, then money is seen as a very powerful tool in tracking the economy. The importance of money as an economic indicator however diminishes once velocity becomes less stable and hence less predictable.

However, an unstable velocity could occur because of an unstable demand for money. Most experts believe that since the early 1980s, innovations in financial markets made money velocity unstable. This in turn made money an unreliable indicator of inflation.

We believe the alleged failure of money as an indicator of inflation emanates from an erroneous definition of inflation and money supply. This failure has nothing to do with an unstable demand for money, and just because people change their demand for money does not imply instability. Because an individual’s goals may change, he might decide that it benefits him to hold less money. Sometime in the future, he might increase his demand for money. What could possibly be wrong with this? The same goes for any other goods and services—demand for them changes all the time.

Defining Inflation

According to Murray Rothbard and Ludwig von Mises, inflation is defined as the increase of the money supply out of “thin air.” Following this definition, one can ascertain that increases in money supply set economic impoverishment in motion by creating an exchange of nothing for something, the so-called counterfeit effect.

General increases in prices are likely to be symptoms of inflation—but not always, however. Note that prices are determined by both real and monetary factors. Consequently, it can occur that if the real factors are “pulling things” in an opposite direction to monetary factors, no visible change in prices is going to take place. If the growth rate of money is 5 percent and the growth rate of goods supply is 1 percent then prices are likely to increase by 4 percent. If, however, the growth rate in goods supply is also 5 percent then no general increase in prices is likely to take place.

If one were to hold that inflation is about increases in prices, then one would conclude that, despite the increase in money supply by 5 percent, inflation is 0 percent. However, if we were to follow the definition that inflation is about increases in the money supply, then we would conclude that inflation is 5 percent, regardless of any movement in prices.

Defining Money Supply

Prior to 1980, it was popular to employ various money supply definitions in the assessment of the changes in the prices of goods and services. The criterion for the selection of a particular definition was its correlation with national income. However, since the early 1980s, correlations between various definitions of money and national income have broken down. Some analysts believe that this breakdown is because of changes in financial markets, making past definitions of money irrelevant.

A definition presents the essence of a particular entity, something no statistical correlation could ever provide. To establish the definition of money we have to explain the origins of the money economy. Money has emerged because barter cannot support the market economy. Money is the general medium of exchange and has evolved from the most marketable commodity. Mises wrote:

There would be an inevitable tendency for the less marketable of the series of goods used as media of exchange to be one by one rejected until at last only a single commodity remained, which was universally employed as a medium of exchange; in a word, money.

Since the general medium of exchange was selected out of a wide range of commodities, the emerged money must be a commodity. Rothbard wrote:

In contrast to directly used consumers’ or producers’ goods, money must have pre-existing prices on which to ground a demand. But the only way this can happen is by beginning with a useful commodity under barter, and then adding demand for a medium to the previous demand for direct use (e.g., for ornaments, in the case of gold).

Through an ongoing selection process, individuals settled on gold as standard money. In today’s monetary system, the core of the money supply is no longer gold, but rather coins and notes issued by the government and central bank that are employed in transactions as goods and services are exchanged for cash. Hence, one trades all other goods and services for money.

Part of the stock of cash is stored through bank deposits. Once someone places money in a bank’s warehouse, he is engaging in a claim transaction, never relinquishing his ownership of the money. Consequently, these deposits, which are labelled demand deposits, are part of money.

This is contrasted with a credit transaction, where the lender relinquishes his claim over the money for the duration of the loan. In a credit transaction, money is transferred from a lender to a borrower, but the overall amount of money in the economy does not change because of the credit transaction.

The introduction of electronic money seems to cast doubt on the definition of money. It would appear that deregulated financial markets generate various forms of new money. Notwithstanding, various forms of electronic money or e-money, like digital currency, do not have a “life of their own.”

Various financial innovations do not generate new forms of money but rather new ways of employing existing money in transactions. Irrespective of these financial innovations, the nature of money does not change. Money is the thing that all other goods and services are traded for. Once the essence of money is established by excluding various credit transactions, one can identify the status of inflation. Changes in prices are not going to be relevant here.

Conclusion

Contrary to popular thinking, inflation is not about increases in the prices of goods and services but about increases in money supply. Following this definition, we can establish that the key damage caused by inflation is economic impoverishment through the exchange of nothing for something. What matters as far as inflation is concerned is not the correlation between money supply and the prices of goods and service but increases in money supply.

Contrary to popular thinking, the essence of money did not change because of various financial innovations. Money is a thing that is employed as a medium of exchange. Furthermore, according to Mises’s regression theorem, the historical link between paper currency and gold is what holds the present monetary system together.

Author:

Contact Frank Shostak

Frank Shostak‘s consulting firm, Applied Austrian School Economics, provides in-depth assessments of financial markets and global economies. Contact: email.

Original Source: https://mises.org/wire/inflation-money-supply-growth-not-prices-denominated-money

Tags #AndySchectman, #InvestingInBaseMetals, #InvestingInEnergy, #InvestingInGold, #InvestingInPlatinum, #InvestingInSilver, #JuniorMining, #MauriceJackson, #MilesFranklin, #PreciousMetals, #ProvenAndProbable

Junior Mining Precious Metals

Silver Bullet Mines Corp.’s Successful Commissioning of Its Silver Pilot Plant

Post author By admin
Post date July 5, 2022

Burlington, Ontario–(Newsfile Corp. – July 5, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (“SBMI” or “the Company”) announces it has successfully completed commissioning of its wholly owned 125 MTPD state of the art mill near Globe, Arizona. This is the latest major achievement in progressing towards bulk sampling and silver production.

Despite minor delays caused by COVID-19, the commissioning was successfully completed on July 3, 2022. Over the past few weeks all equipment at the mill was test run and synchronized for continuity. No material defects or deficiencies were detected.

“In September of 2021 this was an empty field,” said A. John Carter, SBMI’s CEO. “Now this field hosts a fully functional silver processing facility, ready to start processing a bulk sample of ore from our Buckeye Silver Mine. This could not have been achieved without the incredible skill and dedication of the technical team in Arizona.”

SBMI has commenced crushing ore through the crushing circuit (see video at https://youtu.be/KvhAhqABV74) and is filling the fine ore bin. The photo on the left below shows coarse ore from the Company’s local Buckeye Silver Mine and the photo on the right shows crushed ore in the fine ore bin. The cone crusher and jaw crusher successfully crushed the ore to less than ½ inch in diameter, which is ideal feed for the ball mill.

(Left) Coarse Ore (Right) Fine Ore

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/8464/130029_image1.jpg

The next step on the path to producing concentrate and dore bars is to start running the fine ore through the grinding and gravity circuit. This will require a ramp-up period until all equipment is running at maximum efficiency.

Samples are being sent to multiple companies which have expressed an interest in buying SBMI’s concentrate and dore.

This is yet another giant leap forward for the Company. SBMI is on the cusp of producing both silver and copper and generating cash flow which will enable it to continue to execute on its business plan.

Please check the Company’s website www.silverbulletmines.com, or follow on Twitter @bulletmines or at YouTube “Silver Bullet Mines”.

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

Silver Bullet Mines Corp. trades on the TSX Venture Exchange under the symbol SBMI and on the OTCQB Venture Market under the symbol SBMCF. The OTCQB Venture Market is for early stage and developing U.S. and international companies. Companies listed there are current in their reporting and undergo an annual verification and management certification process. Investors can find current financial disclosure for the Company on www.otcmarkets.com and at https://money.tmx.com/en/quote/SBMI.

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130029

Tags #BuckeyeMine, #JohnCarter, #JuniorMining, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, #SilverBulletMines, #WashingtonMine, proven and probable

Capitalism Morality Exclusive Interviews Junior Mining Precious Metals

(VIDEO) Goldshore Resources – Moss Lake has Depth, Width and Along Strike

Post author By admin
Post date July 3, 2022

Goldshore Resources – (TSX.V: GSHR | OTCQB: GSHRF)
Website: https://goldshoreresources.com/
3D Deck: https://goldshoreresources.com/investors/#corporate-presentation

Goal: To Create the Next Tier One Asset in Ontario, Canada.

Flagship Project: The Moss Lake Property located in Ontario, Canada has 1.47 M oz of Indicated and 2.51 M oz of Inferred historical gold resources, along with a robust Preliminary Economic Assessment conducted in 2020.

Joining us for our conversation is Brett Richards, the CEO of Goldshore Resources.

Maurice Jackson: Mr. Richards, it’s a pleasure to be speaking with you today as Goldshore Resources has some exciting news for shareholders, as the company continues on its path to creating the next Tier One asset in Ontario, Canada. Mr. Richards, for someone new to the story, please introduce us to Goldshore Resources and the exciting opportunity the company presents to shareholders.

Brett Richards: Goldshore is a company that was formed last year. We’ve been trading for just over a year now, and on the back of acquiring the Moss Lake Project from Wesdome Gold Mines for $52 million in cash and shares last year, we have put together a strategy over the last nine months to drill this up to let’s call it critical mass. What we acquired in the Moss Lake Project was a 4 million-ounce historic resource, and our view is that the extensions of this resource, both laterally along strike and at depth, are significant, particularly along strike.

Our original strategy was let’s put together a 100,000-meter drill program. Let’s get financed and let’s get on with it, and that’s what we’ve been doing for the past nine months, and most recent results are starting to I’ll say support the original thesis we had about Moss Lake being much bigger than first thought.

Maurice Jackson: Before we deep dive into the press release, some important competitive advantages distinguish Goldshore Resources from its peers and truly make the Moss Lake property a unique value proposition. Mr. Richards, for someone new to the flagship Moss Lake property, please acquaint us with the deposit, beginning with your location and some of your neighbors in the region.

Brett Richards: The Moss Lake Property is about 120 kilometers northwest of Thunder Bay in Ontario. We are probably in the most mining-friendly jurisdiction in the world, plus we are on the Trans-Canada Highway, Yonge Street in Toronto, which happens to be the longest street in the world, going all the way to Manitoba. Our concession is adjoined to Trans-Canada Highway.

And why is that important? It’s important for several reasons, particularly about infrastructure. When I look at mining projects, at the end of the day, obviously there’s the technical side of things, but there’s also what I call the do-ability factor. Is this mine really doable? Can you get this into production easily? And the answer for Moss Lake is yes.

Being on the Trans-Canada Highway means we’re afforded 10-cent kilowatt-hour power, which goes right by our doorstep. We have a four-lane highway, so access to our site is as good as it gets. We have power, water, rail, people, consultants, contractors, and government, all within nothing more than an hour’s drive into the City of Thunder Bay, and an international port and an international airport. So, we tick all the boxes when it comes to infrastructure, so that is kind of, I’ll say the description of where we are, and why I think it’s so compelling to be where we are.

There are a lot of people around us as well. The Shebandowan Greenstone Belt where we’re located has been a bit under-explored over the years because low-grade bulk tonnage style deposits were not in favor when gold was $1,500. But now gold is kind of trading on a floor of $1,800, they seem to be much more appealing to investors. Certainly, after the success of Detour Lake, I think you’ll see these types of deposits more and more come into production.

Maurice Jackson: You referenced Goldshore Resources as having a historical resource, and the company also completed a robust Preliminary Economic Assessment (PEA) back in 2020. Can you share some of those highlights with us?

Brett Richards: Historically the area has been, let’s, so-called cobbled together as a big land package. There are three distinct areas within our domain, the Moss Lake area being kind of the flagship. It is what carries three and a half million ounces of that historical resource. Up in the Northeast, up near the highway, we have Coldstream and North Coldstream and Iris Lake against all kinds of compartmentalized land packages that were cobbled together by Wesdome.

There’s a 500,000-ounce historical resource on Coldstream, and a former actual operating mine at North Coldstream that ran for about 30 years in the, about 40 or 50 years ago. We have a very interesting kind of, I’ll say land package, and the work that has been done on this culminated in 2013 when a PEA was done on the property by Moss Lake Gold Mines.

Again, the PEA was updated in 2020 by WesDome before kind of launching a sale process and let’s face it, PEAs are a snapshot in time, and the time in 2013 and the time in 2020, and the time today are all very, very different, knowing that we are in a hyperinflationary environment today, what CAPEX might have been $500 million back in 2020, might be 600 million or $650 million today.

We have to keep that in mind as we go through. But I think back in 2013, and back in 2020, this project, at these gold levels, at $1,800 to $2,200 gold, and trades between a 27% and a 40% IRR. So, after-tax, the internal rate of return, is very, very compelling. We can look at the new present values of these projects, but again, they’re snapshots in time. What that tells me is that this is a robust project that when tested, even with inflation, even with different input assumptions, relative to the economic circumstances at the time, it is going to be a robust project.

Maurice Jackson: Goldshore Resources currently is embarked on a 100,000-meter drill program. Are you twinning the holes, and conducting step-out drilling on this?

Brett Richards: We are doing some verification drilling of the existing historical resource. We are stepping out laterally. We are stepping out along strike, and we have identified a parallel zone to the Moss Lake deposit, which is very exciting, and some high-grade structural areas within the deposit, which we’ll look to improve the overall grade and volume as we get further down the road, and get closer to a resource estimate.

Maurice Jackson: Speaking of your drill program, some of the initial assay results have just been released. What do they seem to indicate thus far?

Brett Richards: Well, I think they, we’ve always been trying to test our thesis that this is bigger and much more robust as a deposit than the historical resource illustrates. We’ve done that through a geophysical survey, and you can see that on our website, the 3D model of it, where you can see the potential for future mineralization up along strike, that goes 7 to 12 kilometers further than where Moss Lake is now.

But I think the results that we started to put out from the very beginning show between one, 1.1, 1.2, and 1.3 grams over long intervals, long intercepts of 50, 60, 70, 100, and 120 meters in some cases. I’ll say, some good intercepts, but I think what the surprise has been where we have gone kind of not twining holes, but stepping out a little bit, and stepping into an area that might be classified as inferred.

We’ve hit some high-grade structures, and I think that’s simply because of the geophysical work we’ve done, the structural work we’ve done with a structural geologist by the name of Brett Davis, who’s on-site currently. Pete Flindell, who is our VP of Exploration, he and the team have kind of figured this out. Targeting of some of these higher grade holes has been something that we wanted to do, because ultimately when we kind of go to, I’ll say, interpret all of this data, I don’t think the market is going to want another kind of $1.5 or $2 billion project that does 60,000 tons a day and produces 600,000 ounces of gold. That’s just not viable in this current economic environment.

You’re not going to be able to raise that kind of money. You’re not going to be able to get traction on that type of project. I think we have to start pivoting and looking at alternatives, and what are those? Is there a higher-grade starter pit alternative here within the deposit? I think that’s what we’re going to try and kind of focus on over the next little while. Therefore, there will be more infill and more delineation drilling than anything. But, we are still doing some step-out as well.

Maurice Jackson: All right. Well, let’s get to the press release. Goldshore Resources just received some welcoming news from the assay labs, which identify significant downhole gold intercepts. What can you share with us, Sir?

Brett Richards: We just announced, 78 meters at 1.17 grams from about 170 meters depth. This is a great hole. It’s all going to get contained within an open-pit mine. It’s going to pull a lot of tonnage in. I think, there were some high-grade areas within that, including 22 meters at 2.3 grams and 5.6 meters at 5.69 grams, in and around the 200 to the 220-meter range.

So, this is encouraging, and there are some other intercepts on some other holes that we announced, but it’s all more of the same. There’s anywhere from 20 to a hundred meters at over a gram.

Our objective is to try to maximize the grade. A little bit of grade, 0.1 grams here is going to add 10% to our resource. Even 1 gram or 1.1 gram, it’s quite meaningful at the end of the day. We’ll figure all this out once we get all the data and get towards a mineral source update at the end of the year. But I think right now, and I can talk a lot about the current market dynamics, but sadly, putting good results out into the market has not moved our share price. It’s actually, we have been impacted like all the other junior minors and we’ve been trading downwards.

Maurice Jackson: Looking forward, what can you share with us regarding optionality and economic open pit shells as you model your resource?

Brett Richards: I think we’re going to see a lot of results come out over the next six months or more of the same, illustrating our thesis that this is going to be a real project. Also, I think better delineation on defining this higher-grade starting project, but we can’t lose sight that this is, I think, this is a Tier One asset. This is going to be 10 million ounces by the time the drilling has wrapped up. Whether that’s a year or two or three from now. This is such a large area. There’s probably going to be another 100,000 meters as this gets towards a feasibility study.

Like I’ve said, we’ve got a footprint here that is a Tier One asset at the end of the day, but I think we need to start focusing on what the market is going to respond to. The market is going to respond to, is this a project that has a smaller CAPEX option, a smaller starter with that positive cash flow as soon as possible. Those types of questions need to be addressed and need to be presented to the market. So, we’re going to be looking at some permutations at the end of the day, when we do a PEA next year.

Maurice Jackson: Let’s get into some numbers. Mr. Richards, please provide the capital structure for Goldshore Resource.

Brett Richards: Goldshore Resources has about 143 million shares outstanding today, and only 5 million out warrants outstanding, and we’ve got about $13 million in the bank as of June. We’re well-positioned here and can ride this out.

As I’ve said before, we got caught in a bit of the whole market dynamics. We wanted to play a bit of catch-up, and get ahead of the curve on drilling, so we ramped up our drilling just before the whole market started crashing.

Our team took our foot off the pedal, and we put the brakes on it a little bit. We did scale up to seven rigs, but we’ve pulled back now to a couple of rigs. I want to ride this out. Preservation of cash and preservation of this company is first and foremost.

The capital markets are so volatile and so unpredictable right now, I’m very comfortable just burning a couple of million dollars a month and just watching this, or less than a couple of million dollars a month, and just watching how this unfolds to the fall because we don’t want to be in a situation where, where we have to go to the market and the market is not there for us.

Maurice Jackson: Speaking of being comfortable, I just want to share with everyone that I am a proud shareholder, and I’m looking to add to my position under these circumstances. The value proposition is extremely compelling, and I’m not discouraged by the price. I understand how markets work, and I never complain about a sale when it comes to capital goods. Now, since we’re covering numbers, how does Goldshore Resources compare with some of your peers?

Brett Richards: Well, we’ve never been able to kind of figure this one out, but we’re trading today somewhere kind of in order of magnitude around $10 an ounce, it’s crazy, but that is kind of where we are today. Our peers have also been impacted, but they also had a higher starting point. We’ve got a trading comparable sheet in our presentation that has us at the bottom of our peer group, and this is a peer group put together by a bank. At trading at $10 today, and our peers trading anywhere from $15, $20, $25, all the way up to $100 an ounce for Marathon.Looking at a pure comparison basis, Goldshore Resources is the least expensive among our peers. When you start looking at what it costs to bring ounces onto a resource statement, to put ounces into the inferred category costs about $30 an ounce. If you have a million ounces of inferred resource, it’ll probably cost $30 million to get there, then drilling in other activities.

So we’re trading at a third of that, a third of what it costs to do it. So, I think from an investment opportunity standpoint, there’s one way here, and it’s up.

Maurice Jackson: In closing, Sir, what would you like to say to shareholders?

Brett Richards: I think the really compelling investment case here is how we have performed against the general market, and where we are today. I’ll say the leverage that we have on the way back up. This is not going to go on forever. We may still feel some pain in the capital markets going forward, but we are going to recover, and commodities and equity, gold equities are going to accelerate, and probably much faster than the market when it does turn around, and when it does come back. We are actually leveraged to that even greater than the normal gold equity market, because of our size and our scale, and our potential to bring this up to a Tier One status.

So, there are some compounding, compelling investment reasons why to choose Goldshore, and I am also a major shareholder of this company. I have never continued to lose sight of the fact that this is a real project, and this is going to get into production one day.

Maurice Jackson: Mr. Richards, it’s been a pleasure speaking with you today. Wishing you and Goldshore Resources, the absolute best, Sir.

Brett Richards: Thanks, Maurice.

Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will improve the world.

Tags #BrettRichards, #CanadianMining, #CanadianMiningStocks, #GoldMiningCompanies, #GoldMiningStocks, #GoldShoreResources, #GSHR, #JuniorMining, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, best canadian gold stocks, GSHR, Inflation

Precious Metals

Here is Why We are Bullish on Palladium!

Post author By admin
Post date June 28, 2022

We sell physical Palladium delivered directly to your home! Call Me, we have limited supply.

Maurice Jackson ~ 855.505.1900

Palladium: The Secret Weapon in Fighting Pollution

Tags #AndySchectman, #CleanAir, #EV, #InvestingInBatteryMetals, #JuniorMining, #MauriceJackson, #MilesFranklin, #PreciousMetals, #ProvenAndProbable

Exclusive Interviews Junior Mining Precious Metals

(VIDEO) Dolly Varden Silver | 3 Rigs, 30,000 Meter Drill Program on the Kitsault Valley Project

Post author By admin
Post date June 15, 2022

Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project located in the Golden Triangle of British Columbia, Canada, 25kms by road to deep 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 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).

Dolly Varden Silver Corp: (TSX.V: DV | OTCQX: DOLLF)
Website: https://www.dollyvardensilver.com/
Corporate Presentation: https://bit.ly/3atGLuq
Email: info@dollyvardensilver.com
Phone: 604-602-1440

Tags #DollyVardenSilver, #DV, #JuniorMining, #KitsaultValleyProject, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, #ShawnKhunkhun

Junior Mining

Gold Assets Could Help Secure Nation’s Shores

Post author By admin
Post date June 8, 2022

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

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

Rover Metals Corp.

(ROVR:TSX.V – ROVMF:OTCQB – 4X0:FRA)

$0.04

2022/6/8 8:23:44

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

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

Analyst coverage

Fundamental Research Corp. — Siddharth Rajeev

Newsletter coverage

Clive Maund — CliveMaund.com

Company News

View Latest News

Streetwise Reports Articles

06/08/2022 – View Article

03/29/2021 – View Article

03/26/2021 – View Article

01/19/2021 – View Article

11/23/2020 – View Article

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

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

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

Potential at the 60th Parallel

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

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

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

Cabin Gold Project

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

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

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

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

Up Town Gold Project

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

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

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

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

‘We’re Pretty, Pretty Confident’

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

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

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

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

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

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

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

Want to be the first to know about interesting Gold investment ideas? Sign up to receive the FREE Streetwise Reports’ newsletter.

Disclosures

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

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

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

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

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

Junior Mining Precious Metals Uncategorized

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

Post author By admin
Post date June 7, 2022

Figure 1.

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

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

While there are many similarities between the mineralization observed at Golden Glove and that at Big Vein, a significant difference is that while Big Vein occurs on the west side of the Appleton Fault Zone, Golden Glove is situated on the East Side. This is the first drilling on the east side of the fault at the Kingsway Property.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Labrador%253BFault_(geology)%253BGold%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%252256728853-316a-31bc-a98d-be02627be93e%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

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

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

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

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

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

Table 2. Drill hole collar details

Figure 1. Doyle Zone plan map.

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

QA/QC

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

Qualified Person

Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.

The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.

About Labrador Gold
Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.

In early 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 50,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone following encouraging early results. The Company has approximately $28 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the Florence Lake greenstone belts that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25^th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

The Company has 159,199,026 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.

For more information please contact:

Roger Moss, President and CEO

Tel: 416-704-8291

Or visit our website at: www.labradorgold.com

Twitter: @LabGoldCorp

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

Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

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

Junior Mining Precious Metals Uncategorized

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

Post author By admin
Post date June 6, 2022

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

High-grade intercepts from TUG-141 include:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Above the high-grade intercept

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

Below the high-grade intercept

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

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

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

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

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

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

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

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

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

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

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

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

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

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

* Current depth, hole is still drilling

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

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

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

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

For further information
Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider
accepts responsibility for the adequacy or accuracy of this release.

This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

Tag: #PreciousMetals

(VIDEO) Metallic Minerals Initiates 2022 Exploration Program at Keno Silver Project in Yukon, Canada

(VIDEO) Labrador Gold – Announces 284.1 G/T Gold from Big Vein

Inflation IS Money Supply Growth, Not Prices Denominated in Money

Defining Inflation

Defining Money Supply

Conclusion

Silver Bullet Mines Corp.’s Successful Commissioning of Its Silver Pilot Plant

(VIDEO) Goldshore Resources – Moss Lake has Depth, Width and Along Strike

Here is Why We are Bullish on Palladium!

(VIDEO) Dolly Varden Silver | 3 Rigs, 30,000 Meter Drill Program on the Kitsault Valley Project

Gold Assets Could Help Secure Nation’s Shores

Rover Metals Corp.

Potential at the 60th Parallel

Cabin Gold Project

Up Town Gold Project

‘We’re Pretty, Pretty Confident’

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

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