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Base Metals Energy Junior Mining Metallic Group Metallic Minerals Precious Metals Uncategorized

Metallic Minerals Announces Start of Drilling at La Plata Silver-Gold-Copper Project in Southwest Colorado, USA, and Extends Warrant Expiry

VANCOUVER, BC / ACCESSWIRE / July 27, 2022 / Metallic Minerals (TSX.V:MMG)(OTCQB:MMNGF) (“Metallic Minerals“, or the “Company“) is pleased to announce the start of its 2022 exploration and drill campaign at the La Plata silver-gold-copper project, located in southwest Colorado. This is the Company’s second diamond core drill program at La Plata and follows the establishment of a new NI 43-101 compliant mineral resource estimate announced earlier this year (see news release dated April 26, 2022).

The initial focus of the 2022 drill program is to extend the limits of previously drill-identified mineralization in the Allard resource area, which is expected to form the basis for updated and expanded resource estimate in 2023. The Company is in the process of completing a follow-up ground-based induced polarization geophysical survey designed to support resource expansion drilling, as well as to help refine and prioritize additional copper-silver-gold porphyry targets developed from the Company’s systematic exploration and the application of new technologies on the project.

La Plata Project Highlights

  • Inaugural National Instrument 43-101 (“NI 43-101”) compliant inferred mineral resource issued April 2022 for the Allard deposit totals 889 million pounds of copper and 15 million ounces of silver in a constrained model, with 115.7 million tonnes at an average grade of 0.39% copper equivalent (“Cu Eq”) (0.35% Cu and 4.02 g/t Ag) using a 0.25% Cu Eq cut-off grade1.
  • Drilling highlights at the Allard porphyry system include 395 m grading 0.57% copper equivalent (0.51% Cu, 6.3 g/t Ag and 0.017 g/t Au) in LP-03, and 854 m at 0.26% Cu, including 254 m grading 0.41% Cu, in drill hole LP-01. Both drill holes started and ended in mineralization.
  • Exploration drilling in 2022 is designed to expand limits of known mineralization in the Allard resource area and to test newly developed targets representing potential new copper-silver-gold porphyry mineralization.

Project History

The road accessible La Plata project covers 33 km2 approximately 20 km northeast of Mancos, Colorado within the historic high-grade La Plata mining district located at the southwest end of the prolific Colorado Mineral Belt. Mineralization is related to a large-scale precious metals-rich porphyry copper system with associated high-grade silver and gold epithermal vein and replacement deposits.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%253B1580500%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%253B1580500%2522%252C%2522wiki_topics%2522%253A%2522La_Plata%253BColorado%253BPorphyry_copper_deposit%253BCompany%253BMancos%252C_Colorado%253BNatural_resource%253BMineral%253BExploration%253BNational_Instrument_43-101%253BBorehole%253BPhelps_Dodge%253BGold_and_Copper%253BCopper%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%25226fd0f08e-c132-3ea8-ac39-5f9770e1768b%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

The La Plata district has a long and rich history of mining with the first silver deposits discovered in the 1700s by Spanish explorers. High-grade silver and gold production has been documented from the 1870s through the early 1940s from vein structures, replacement bodies and breccia zones at over 90 individual mines and prospects3. From the 1950s to 1970s, major miners including Rio Tinto (Bear Creek) and Freeport-McMoRan (Phelps Dodge) explored the district focusing on the significant potential for bulk-tonnage disseminated and stockwork hosted mineralization2. Freeport-McMoRan retained ownership of claims in the district until 2002 when they sold their holdings to the current underlying vendors during the lows of the last metal price cycle.

A total of 56 drill holes totaling 15,200 m have been drilled on the property since the 1950s which confirm the presence of large multi-phase porphyry system with significant silver, gold and copper. This large-scale mineralized system is associated with a 10 km2 strongly magnetic signature with intense hydrothermal alteration. Surrounding the central porphyry system is an associated high-grade silver and gold-rich epithermal system measuring at least 8 km by 2 km that hosts 56 identified vein, replacement, and breccia structures. Historical production from some of these high-grade structures included bonanza grades for silver and gold2.

In addition to the development of the inaugural resource estimate, exploration completed by Metallic Minerals at La Plata to date has included confirmation drilling, resampling of historic drill core and underground sampling, surface mapping, and soil sampling. The Company has also completed comprehensive geophysical surveys over the project including airborne resistivity and magnetics, ground-based induced polarization surveys, and analysis of multi-spectral remote sensing data to establish mineralized anomalies and domains for the various styles of mineralization. This work has identified 16 untested potential porphyry centers outside of the main Allard resource area, as well as developed targets with potential for significant high-grade epithermal silver and gold.

Warrant Extension

Metallic further announces that the Company has applied to the TSX Venture Exchange for approval to extend the expiry date on 9,587,500 warrants that were due to expire August 13, 2022 (the “Warrants”) to February 13, 2023. The Warrants were originally issued as part of a financing completed in August 2020 (see news release dated August 13, 2020) led by Canaccord Genuity Corp. on behalf of a syndicate of underwriters including Red Cloud Securities Inc. and Mackie Research Capital Corporation. The warrants entitle the holder to acquire one common share at an exercise price of $0.60.

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

Footnotes

1) See Technical Report on the Inaugural Mineral Resource Estimate for the Allard Cu-Ag Porphyry Deposit, La Plata Project, Colorado, USA with an effective date of April 3, 2022. The Mineral Resource has been estimated in conformity with CIM Estimation of Mineral Resource and Mineral Reserve Best Practices Guidelines (2019) and current CIM Definition Standards – For Mineral Resources and Mineral Reserves (2014). The constrained Mineral Resources are reported at a base case cut-off grade of 0.25% CuEq, based on metal prices of $3.60/lb Cu and $22.50/oz Ag, assumed metal recoveries of 90% for Cu and 65% for Ag, a mining cost of US$5.30/t rock and processing and G&A cost of US$11.50/t mineralized material. (1) Cu Eq* calculations are based on 100% recovery of all metals using the same metal prices used for the resource calculation. All figures are rounded to reflect the relative accuracy of the estimate. The current Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred Resources in this Mineral Resource Estimate are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as Indicated or Measured. However, based on the current knowledge of the deposits, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

2) Eckel, USGS Prof Paper 219, Geology and Ore Deposits of the La Plata Mining District, 1949;

3) Bear Creek Mining (now Rio Tinto), Humble Oil (now Exxon) and Phelps Dodge (now Freeport-McMoRan) company reports.

Qualified Persons

The La Plata copper-silver project 2022 mineral resource estimate was prepared by Allan Armitage, P. Geo., of SGS Geological Services, an independent Qualified Person, in accordance with the guidelines of the Canadian Securities Administrators’ National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) with an effective date of October 7, 2021. Jeff Cary, CPG, a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release. Mr. Cary is a Senior Geologist and La Plata Project Manager for Metallic Minerals.

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.



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https://www.accesswire.com/709928/Metallic-Minerals-Announces-Start-of-Drilling-at-La-Plata-Silver-Gold-Copper-Project-in-Southwest-Colorado-USA-and-Extends-Warrant-Expiry

Categories
Base Metals Collective Mining Energy Junior Mining Precious Metals

Collective Mining Drills Two Additional Long Intercepts in Favorable Breccia at the Apollo Target; Assay Results are Expected Shortly

Collective Mining Ltd.
Collective Mining Ltd.

Figure 1

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

Figure 2

Plan View of the Apollo Target Area Outlining the Porphyry and Breccia Targets, their Related Soil Anomalies and Drill Holes Completed or Currently Underway
Plan View of the Apollo Target Area Outlining the Porphyry and Breccia Targets, their Related Soil Anomalies and Drill Holes Completed or Currently Underway

Figure 3

Plan View of the Hydrothermal Breccia Discovery Made at Apollo Highlighting the Various Holes Completed or Underway to Date
Plan View of the Hydrothermal Breccia Discovery Made at Apollo Highlighting the Various Holes Completed or Underway to Date

Figure 4

Apollo Target Cross Section NE-SW With APC-3 and APC-5 Highlighting Mineralized Intervals and Vertical Depths of Mineralization. Related Core Photos Highlighted
Apollo Target Cross Section NE-SW With APC-3 and APC-5 Highlighting Mineralized Intervals and Vertical Depths of Mineralization. Related Core Photos Highlighted

TORONTO, July 26, 2022 (GLOBE NEWSWIRE) — Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce visual observations from three additional holes completed at the Apollo target (“Apollo”) at the Company’s Guayabales project located in Caldas, Colombia. Apollo is a newly discovered high-grade copper-gold-silver porphyry-related breccia where the Company recently announced the assay results for the discovery hole APC-1, which intersected 87.8 metres @ 2.49 g/t AuEq (see press release dated June 22, 2022). Apollo is one of eight porphyry-related targets situated within a three-by-four-kilometre cluster area generated by the Company through grassroots exploration at the Guayabales project. As part of its fully funded 20,000+ metre drill program for 2022, there are currently three diamond drill rigs operating at the Apollo target with an additional rig being mobilized to site to begin the Phase II program at the Olympus target in August 2022.
https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Target_Corporation%253BMultiview_orthographic_projection%253BBreccia%253BColombia%253BBorehole%253BApollo%253BDrill%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%25222c496b5d-b8c5-3406-ba24-d9db912a88bf%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

Highlights (See Figures 1 – 4)

  • Drill holes APC-3 and APC-5 were drilled in opposite directions from two separate drill pads to the northeast and southwest respectively in order to test continuity of the mineralized breccia previously intersected in holes APC-1, APC-1W and APC-2 (see press releases dated April 27, 2022, June 22 and July 6, 2022). Both holes intersected at least 200 metres of mineralized breccia, from 276 metres downhole (200 metres vertical) in APC-3 and from 252.6 metres downhole (135 metres vertical) in APC-5. Core from these holes have been sent to the lab as a batch and assay results are expected in the near future.
  • Drill hole APC-4 targeted a newly generated breccia target located closely to the east of the main breccia at Apollo where a small historical artisanal mine is located. After passing through weathered and unmineralized material, the hole intersected 10 to15 metres of favorable breccia with overprinting CBM veins. Core logging from this hole is being finalized and half core will be sent to the assay lab shortly for analysis.
  • Visual observations and results to date from the first five holes drilled into the Apollo target confirm that the main mineralized breccia has a minimum strike length of 300 metres in a NE-SW direction and extends to at least 400 metres vertically below surface. The target remains open in all directions.
  • Mineralization is remarkably continuous along the axis of both intercepts and is hosted within a breccia sulphide matrix consisting of chalcopyrite (Cu), pyrite and pyrrhotite. The breccia clasts are all quartz diorite in composition and this hydrothermal system is clearly linked to a porphyry system. Additionally, overprinting carbonate base metal (“CBM”) veins flood the breccia matrix in various locations along the mineralized intervals. In drill hole APC-3, zones of sheeted CBM veins were outlined over intervals of 10 to 25 metres with visible sphalerite (Zn) and Galena (Pb) observed.
  • The Apollo target, as defined to date by surface mapping, rock sampling and copper and molybdenum soil geochemistry, covers an 800 metre X 700 metre area and further drilling is planned from various locations to continue to expand the mineralized zone.
  • Apollo is road accessible all year-round and is situated within an elevation range of 1,800 to 2,000 metres above sea level. Additionally, an electrical substation is located less than one kilometre from the target area.

“The Apollo target continues to expand in size as we complete further drilling. These two new holes outline the robust nature of this mineralized breccia, and we now have three intercepts measuring more than 200 metres in length which are beginning to point to the discovery of a potentially large bulk-style mineralized system. We will continue to be aggressive in drilling Apollo at various orientations and dips to learn the geometry of the system and unlock the potential of this very exciting new discovery,” commented Ari Sussman, Executive Chairman.

Figure 1: Plan View of the Guayabales Project Highlighting the Apollo Target
https://www.globenewswire.com/NewsRoom/AttachmentNg/89419a7c-4e06-40e9-befb-bfb1005c0def

Figure 2: Plan View of the Apollo Target Area Outlining the Porphyry and Breccia Targets, their Related Soil Anomalies and Drill Holes Completed or Currently Underway
https://www.globenewswire.com/NewsRoom/AttachmentNg/6ce1abed-600a-4ab5-bcef-95cfff710ede

Figure 3: Plan View of the Hydrothermal Breccia Discovery Made at Apollo Highlighting the Various Holes Completed or Underway to Date
https://www.globenewswire.com/NewsRoom/AttachmentNg/123695b8-cbb2-4c65-a949-01832831e7e2

Figure 4: Apollo Target Cross Section NE-SW With APC-3 and APC-5 Highlighting Mineralized Intervals and Vertical Depths of Mineralization. Related Core Photos Highlighted
https://www.globenewswire.com/NewsRoom/AttachmentNg/787cff99-ef52-4d16-afdd-9f46f606957a

About Collective Mining Ltd.

Twitter: @CollectiveMini1
Instagram: CollectiveMining
LinkedIn: Collective Mining
Facebook: Collective Mining Colombia

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

Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making significant new mineral discoveries and advance the projects to production. Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. Collective Mining currently holds options to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program on both the Guayabales and San Antonio projects, a total of eight major targets have been identified. The Company is fortuitous to have made significant grassroot discoveries at both projects with near-surface discovery holes at the Guayabales project yielding 302 metres at 1.11 g/t AuEq at the Olympus target, 163 metres at 1.3 g/t AuEq at the Donut target and 87.8 metres at 2.49 g/t AuEq at the Apollo target. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 g/t AuEq. (See press releases dated October 27th, 2021, November 15, 2021, March 15, 2022 and June 22, 2022 for AuEq calculations.)

Qualified Person (QP) and NI43-101 Disclosure

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

Technical Information

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

Contact Information

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

FORWARD-LOOKING STATEMENTS

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

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

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

Categories
Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Corp. Releases Assay Results Including 2,363.8 oz/t Silver

Burlington, Ontario–(Newsfile Corp. – July 25, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (“SBMI” or “the Company”) announces spectacular assay results for silver from its Buckeye Mine in Arizona.

The assay results below came from a test carried out by SBMI to further confirm, in practice, the efficiencies with which SBMI’s assay lab would process the high-grade ore from the Buckeye Mine. The person who carried out the test in Arizona was Ron Murphy, the Company’s VP Mining, together with SBMI’s assay team, under the supervision of Bob Budd, metallurgical engineer.

Below is a picture of the Heavy Rock2 select grab sample that SBMI took from behind the Treasure Chest at its Buckeye Mine in March, 2022. Mr. Murphy recently sampled Heavy Rock2, in a process that resulted in two beads.

One bead graded 2,214.4 oz/t silver and the other 2,363.8 oz/t silver.



Heavy Rock2 Sample from Behind the Treasure Roomhttps://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%2522Ron_Murphy%253BArizona%253BBead%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%2522e844ac8a-5a03-37ad-99e4-9dc1b91762ef%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/131857_999bd5d20475c9fc_001full.jpg



Bead from Buckeye Mine Ore grading 2,363.8 oz/t silver

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/131857_999bd5d20475c9fc_002full.jpg

These results are spectacular and Management is thrilled with them as the extreme results were unexpected due to the fine dissemination of silver throughout this type of rock. However, Management believes the grade of future beads can be increased as the field team continues to fine tune the mill and the assay lab to increase their efficiencies.

“We designed the assay lab and the mill with the high-grade material from the Buckeye in mind, in the belief they would work together to produce saleable high grade material,” said A. John Carter, SBMI’s CEO. “That belief is why we built a complete processing facility in under 10 months, for less than $3,000,000. These assay results go a long way to justifying that belief and the building of the mill. Our field team has been incredible.”

SBMI continues to bring what it believes to be high-grade product from the Buckeye Mine to the millsite, in anticipation of completing the mill tune-up with lower grade material, and then commencing milling the higher grade material. Discussions are underway with various potential buyers for SBMI’s concentrate, and for the dore once poured.

QA/QC

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

Readers should be aware that the SBMI facilities have been designed for quick production grade control and are not ISO compliant; however, duplicate sampling with other ISO labs has been done on past samples with good correlation.

Readers are cautioned Heavy Rock2 may not be representative of all the material in the Treasure Room or overall at the Buckeye Silver Mine. Readers are further advised that these preliminary assay values do not represent a reserve or resource at this time. While significant silver values have been encountered, the quantity, grade, or metal or mineral content of a deposit has not been categorized as an inferred mineral resource, an indicated mineral resource, a measured mineral resource, a probable mineral resource, reserve or a proven mineral reserve.

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

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/131857

Categories
Energy Junior Mining

Eric Sprott Announces Holdings in StrikePoint Gold Inc

Toronto, Ontario–(Newsfile Corp. – July 25, 2022) – Eric Sprott announces that, on July 23, 2022, 11,500,000 common share purchase warrants (Warrants) of StrikePoint Gold Inc., (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised representing a decrease in holdings of approximately 10.8% of the outstanding common shares (Shares) on a partially diluted basis since the date of the last early warning report. Prior to the expiry of these Warrants, Mr. Sprott beneficially owned and controlled 29,842,000 Shares and 11,500,000 Warrants representing approximately 14.4% of the outstanding Shares on a non-diluted basis and approximately 18.9% on a partially diluted basis assuming the exercise of such Warrants.

As a result of the Warrant expiry, Mr. Sprott now beneficially owns and controls 29,842,000 Shares representing approximately 14.4% of the outstanding Shares on a non-diluted basis. The Warrants expiry resulted in a partially diluted ownership change of greater than 2% and, therefore, the filing of an update to the early warning report.

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

StrikePoint Gold Inc., is located at Suite 300 – 1055 West Hasting Street, Vancouver, BC V6E 2E9. A copy of the early warning report with respect to the foregoing will appear on the company’s profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and may also be obtained by calling Mr. Sprott’s office at (416) 945-3294 (2176423 Ontario Ltd., 200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131681

Categories
Diamcor Mining Energy Exclusive Interviews Junior Mining

(VIDEO) Diamcor Mining – Reaching an Inflection Point in Revenue from their Gem Quality Diamond Sales

Diamcor Mining, Proven and Probable

Diamcor Mining Inc. is a fully reporting publically traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established prior operational and production history in South Africa, extensive prior experience supplying rough diamonds to the world market, and has established a long-term strategic alliance with world famous Tiffany & Co. Rather than exposing itself to the high risks and costs associated with traditional exploration, the Company’s focus is on the identification, acquisition, and operation of unique diamond projects with near-term production potential such as the Krone-Endora at Venetia Project.

The Krone-Endora at Venetia project was acquired from De Beers and is co-located directly adjacent to the De Beers Venetia Diamond Mine in the Limpopo province of the Republic of South Africa, approximately 500 km north-northeast of Johannesburg. The Venetia mine is the 3rd largest diamond mine in the world, and South Africa’s largest producer of diamonds, accounting for over 50% of South Africa’s annual output. A high percentage of the diamonds produced at Venetia are reported as being gem quality, with the rest sold for industrial uses. Given the Krone-Endora projects location directly adjacent to the established Venetia mine, many operational benefits are obvious. In addition to this, both the previous exploration and the NI43-101 report concluded that the deposit on Krone-Endora at Venetia was not only an alluvial deposit, but also a rare eluvial deposit indicating a direct shift of material from the higher grounds of the Venetia Kimberlite clusters onto the lower surrounding areas of Krone-Endora. Given the eluvial nature of the deposit and its location directly adjacent to the source, the diamondiferous gravels at Krone-Endora at Venetia appear much more consistent in nature with initial grades from drilling and bulk testing much higher than that of typical alluvial type deposits.

As part of the acquisition process an independent NI 43-101 technical report for the Krone-Endora at Venetia project was released by the Company in July of 2009 and updated in April of 2015. The updated report provided an inferred resource estimate of 57,981,000 tonnes of diamond-bearing gravels with 1,387,000 carats of diamonds for the areas of the project on which work has been done to date. In conjunction with a planned move to immediate trial-mining exercises on these areas, the Company will concurrently perform additional drilling to determine the full potential of the project to assist in final production decisions. The deposit is also noted to be near surface, and diamond bearing from surface to bedrock, and with a total depth of 15 meters from surface to bedrock, will allow for a simple, low-cost strip mining operation to be employed.

Categories
Uncategorized

Goldshore Resources Confirms High Grade Mineralization in the Main Zone

Vancouver, British Columbia–(Newsfile Corp. – July 20, 2022) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“), is pleased to announce assay results from its ongoing 100,000-meter drill program at the Moss Lake Project in Northwest Ontario, Canada. Drilling is aiming to better define high-grade structural zones within the Moss Lake deposit.

Highlights:

  • Three holes drilled to evaluate gaps in the Main Zone have confirmed high-grade gold mineralization within anastomosing shears hosted by low-grade mineralized altered diorite with intercepts of:
  • 13.30m @ 1.49 g/t Au from 48.6m depth in MMD-22-028
  • 21.20m @ 1.66 g/t Au from 187.7m
  • 3.50m @ 10.7 g/t Au from 349.6m
  • 17.00m @ 1.28 g/t Au from 50.0m depth in MMD-22-030
  • 6.30m @ 2.00 g/t Au from 358.7m, including
  • 7.70m @ 1.40 g/t Au from 533.3m depth in MMD-22-032
  • 6.00m @ 1.93 g/t Au from 570.0m
  • MMD-20-32 also extended across the Main Zone to confirm the recently identified southern parallel zone with best intercepts of:
  • 9.60m @ 1.02 g/t Au from 805.9m
  • 10.00m @ 1.21 g/t Au from 825.0m

President and CEO, Brett Richards, stated, “We continue to receive results that confirm the developing model that high grades occur within broader envelopes of lower grade gold mineralization. Our understanding of the geology is now at a level that will enable us to accurately represent the position of high grades within a resource model we are aiming to produce by the end of the year.”

Technical Overview

Figure 1 shows a typical cross section through MMD-22-028. Table 1 shows the significant intercepts. Table 2 and Figure 2 show the drill hole locations.



Figure 1: Drill section through MMD-22-028 showing mineralized intercepts relative to the 2013 grade model

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/8051/131311_c9199a03f4c90bca_002full.jpg



Figure 2: Drill plan showing the drill holes relative to the 2013 resource model and the new parallel zones

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/8051/131311_c9199a03f4c90bca_003full.jpg

Table 1: Significant downhole gold intercepts

HOLE IDFROMTOLENGTH
(m)		TRUE
WIDTH (m)		CUT
GRADE 
(g/t Au)		UNCUT
GRADE 
(g/t Au)
MMD-22-02828.0030.002.000.70.980.98
40.35115.3074.9525.60.580.58
including48.6061.9013.304.51.491.49
and112.50115.302.801.02.912.91
126.00128.002.000.71.321.32
142.00152.0010.003.60.310.31
155.00163.008.002.90.340.34
182.00237.0055.0019.70.880.88
including187.70208.9021.207.61.661.66
267.00274.157.152.70.520.52
342.90387.1044.2016.60.801.08
including349.60353.103.501.37.1410.7
426.70442.0015.306.00.440.44
471.00528.0057.0023.20.350.35
628.30639.0010.704.40.470.47
663.10674.7011.604.70.380.38
      
MMD-22-0307.0088.5581.5543.20.510.51
including8.0011.403.401.82.182.18
and50.0067.0017.009.01.281.28
and79.0081.002.001.11.021.02
98.90107.909.004.80.750.75
including98.90103.354.452.41.361.36
166.00172.606.603.60.350.35
236.80243.006.203.40.360.36
257.00269.0012.006.70.320.32
336.00453.55117.5567.40.380.38
including358.70365.006.303.62.002.00
473.00482.659.655.80.620.62
610.70655.0044.3029.10.380.38
including610.70613.002.301.51.221.22
   
MMD-22-032247.10255.108.003.90.900.90
278.00280.002.001.01.231.23
378.00388.5010.505.30.630.63
including381.95384.002.051.02.302.30
400.65414.0013.356.70.380.38
443.00452.009.004.50.510.51
472.50482.009.504.90.320.32
528.55610.0081.4541.90.500.50
including533.30541.007.704.01.401.40
and570.00576.006.003.11.931.93
624.35652.0027.6514.70.480.48
704.00733.9029.9015.80.550.55
including709.00711.002.001.12.902.90
and723.00725.052.051.13.833.83
757.00759.002.001.10.790.79
805.90857.7551.8528.20.600.60
including805.90815.509.605.21.021.02
and825.00835.0010.005.41.211.21
Intersections calculated above a 0.3 g/t Au cut off with a top cut of 30 g/t Au and a maximum internal waste interval of 10 metres. Shaded intervals are intersections calculated above a 1.0 g/t Au cut off. Intervals in bold are those with a grade thickness factor exceeding 20 gram x metres / tonne gold. True widths are approximate and assume a subvertical body. The fact that cut and uncut assays are the same, shows that all samples assayed less than the 30 g/t Au top cut.

Table 2: Location of drill holes in this press release

HOLEEASTNORTHRLAZIMUTHDIPEOH
MMD-22-0286689425379332434155°-70°819.0m
MMD-22-0306690645379382432155°-60°661.95m
MMD-22-0326686715379150448155°-60°862.0m
Approximate collar coordinates in NAD 83, Zone 15N

Results have been received for three holes that have infilled areas of the Main Zone that are between sections drilled by historic holes with collar survey problems.

The holes were only constrained by the 500-meter vertical depth limit being applied to all holes in this program. As with the historic holes, these holes intersected several broad zones of low-grade mineralization within the altered diorite intrusion host. Examples include 74.95m @ 0.58 g/t Au from 40.35m, 55.0m @ 0.88 g/t Au from 182.0m and 44.2m @ 0.8 g/t Au from 342.9m in MMD-22-028; 81.55m @ 0.51 g/t Au from 7.0m and 117.55m @ 0.38 g/t Au from 336.0m in MMD-22-030; and 81.45m @ 0.50 g/t Au from 528.55m in MMD-22-032.

All of these low-grade zones occur as envelopes to higher-grade structures. An analysis of oriented core by renowned structural geologist, Dr. Brett Davis, confirmed that these form a three-dimensional, anastomosing shear network that has developed in response to strain on the altered diorite intrusion. Results include the broad zones of +1 g/t Au mineralization shown in the highlights (e.g., 21.2m @ 1.66 g/t Au from 187.7m in MMD-22-028) and several narrow high-grade intervals, including 0.4m @ 61.5 g/t Au from 349.6m and 0.6m @ 13.6 g/t Au from 352.5m in MMD-22-028; and 0.4m @ 14.7 g/t Au from 363.55m in MMD-22-030.

The high grade near surface intercepts in MMD-22-028 and MMD-22-030 extend previously defined high-grade mineralization to surface.

MMD-22-032 also extended across the altered diorite into the wall rock to test the southern parallel zone. This broad zone of low-grade mineralization (51.85m @ 0.60 g/t Au from 805.9m) occurs around the higher-grade structures listed in the highlights.

Pete Flindell, VP Exploration for Goldshore, said, “The recent structural geology review by Dr. Brett Davis has helped resolve the theories we have been developing for the genesis of the Moss Lake gold deposit. Our improved understanding will guide the upcoming geological modelling exercise. Specifically, we will model a 3D anastomosing shear network that hosts the higher grades in the deposit and direct the geometry of the lower grade haloes. This is a significant step forward as the historic resource model ignores high grade gold mineralization.”

Analytical and QA/QC Procedures

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

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

About Goldshore

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

About the Moss Lake Gold Project

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

Moss Lake hosts a number of gold and base metal rich deposits including the Moss Lake Deposit, the East Coldstream Deposit (Table 3), the historically producing North Coldstream Mine (Table 4), and the Hamlin Zone, all of which occur over a mineralized trend exceeding 20 km in length. A historical preliminary economic assessment was completed on Moss Lake in 2013 and published by Moss Lake Gold1. A historical mineral resource estimate was completed on the East Coldstream Deposit in 2011 by Foundation Resources Inc2,3. In addition to these zones, the Moss Lake Gold Project also hosts a number of under-explored mineral occurrences which are reported to exist both at surface and in historically drilled holes. The Moss Lake Deposit is a shear-hosted disseminated-style gold deposit which outcrops at surface. It has been drilled over a 2.5 km length and to depths of 300 m with 376 holes completed between 1983 and 2017. The last drilling program conducted in 2016 and 2017 by Wesdome, which consisted of widely spaced holes along the strike extension of the deposit was successful in expanding the mineralized footprint and hydrothermal system 1.6 km to the northeast. Additionally, the deposit remains largely open to depth. In 2017, Wesdome completed an induced polarization survey which traced the potential extensions of pyrite mineralization associated with the Moss Lake Deposit over a total strike length of 8 km and spanning the entire extent of the survey grids.

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

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

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

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

Table 3: Historical Mineral Resources1,2,3

INDICATEDINFERRED
DepositTonnesAu g/tAu ozTonnesAu g/tAu oz
Moss Lake Deposit1 (2013 resource estimate)
Open Pit Potential39,795,0001.11,377,30048,904,0001.01,616,300
Underground Potential–––1,461,1002.9135,400
Moss Lake Total39,795,0001.11,377,30050,364,0001.11,751,600
East Coldstream Deposit2 (2011 resource estimate)
East Coldstream Total3,516,7000.8596,40030,533,0000.78763,276
Combined Total43,311,7001.081,473,70080,897,0000.982,514,876

Notes:

  1. Source: Poirier, S., Patrick, G.A., Richard, P.L., and Palich, J., 2013. Technical Report and Preliminary Economic Assessment for the Moss Lake Project, 43-101 technical report prepared for Moss Lake Gold Mines Ltd. Moss Lake Deposit resource estimate is based on 0.5 g/t Au cut-off grade for open pit and 2.0 g/t Au cut-off grade for underground resources.
  2. Source: McCracken, T., 2011. Technical Report and Resource Estimate on the Osmani Gold Deposit, Coldstream Property, Northwestern Ontario, 43-101 technical report prepared for Foundation Resources Inc. and Alto Ventures Ltd. East Coldstream Deposit resource estimate is based on a 0.4 g/t Au cut-off grade.
  3. The reader is cautioned that the above referenced “historical mineral resource” estimates are considered historical in nature and as such is based on prior data and reports prepared by previous property owners. A qualified person has not done sufficient work to classify the historical estimates as current resources and Goldshore is not treating the historical estimates as current resources. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the historical estimate on the Moss Lake Gold Project can be classified as a current resource. There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability. Even if classified as a current resource, there is no certainty as to whether further exploration will result in any inferred mineral resources being upgraded to an indicated or measured mineral resource category.

Table 4: Reported Historical Production from the North Coldstream Deposit4

DepositTonnesCu %Au g/tAgCu lbsAu ozAg oz
Historical Production2,700,00001.890.565.59102,000,00044,000440,000


Note:

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

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

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

For More Information – Please Contact:

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

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

Facebook: GoldShoreRes | Twitter: GoldShoreRes | LinkedIn: goldshoreres

Cautionary Note Regarding Forward-Looking Statements

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

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131311

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

EMX Executes Agreement to Sell Two Norwegian Projects to Minco Silver

Vancouver, British Columbia–(Newsfile Corp. – July 20, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the execution of an exploration and option agreement for two projects in Norway with Minco Silver Corporation (TSX: MSV) (“Minco”). The agreement provides EMX with cash payments and work commitments during a one-year option period, and upon exercise of an option on either project, EMX will receive equity stakes in Minco, additional work commitments, advance royalty payments, milestone payments and a 2.5% NSR royalty.

The two projects optioned to Minco are the Sagvoll and Sulitjelma polymetallic projects in Norway (See Figure 1). The Sagvoll project hosts both volcanogenic massive sulfide (“VMS”) styles of mineralization and magmatic sulfide nickel-copper mineralization, and the Sulitjelma project is past producer of VMS polymetallic mineralization. The combination of base, battery and precious metals make this an especially compelling portfolio of projects.

Minco is a well-capitalized, Canadian publicly traded company that will work closely with EMX to advance the projects through the option period.

Commercial Terms Overview. All terms in Canadian Dollars. Pursuant to the agreement, Minco can acquire a 100% interest in either of the projects by a) making a $60,000 cash payment to EMX upon execution, and b) spending a minimum of $100,000 on each of the projects during a 12 month option period. Upon exercise of an option on either project, Minco will:

  • pay EMX $35,000 in cash, and issue to EMX a 2.5% NSR royalty interest in each project retained1,
  • issue to EMX the amount of shares equal to 2% of the issued and outstanding shares of Minco,
  • upon the 6th month anniversary of exercise of an option for each retained project, issue additional shares equal to 0.5% of the issued and outstanding shares of Minco and expend an additional $200,000 per project,
  • by the third anniversary of the execution of the agreements, expend an additional $700,000 per project retained,
  • beginning on the third anniversary of the execution of the agreements, make annual advance royalty payments to EMX, which will start at $25,000 per project per year and increase by 15% each year thereafter (but capped at an annual payment of $75,000 per project)2,
  • by the fifth anniversary of the execution of the agreement, expend a cumulative total of $4 million on the projects.
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%2522Norway%253BRoyalty_payment%253BSulitjelma%253BShares_outstanding%253BPublic_housing%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%25229e29ce36-ee94-30fd-9a58-e3b54b013b8a%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

EMX will also receive milestone payments of $250,000 on each retained project upon completion of a preliminary economic assessment (or “PEA”) and upon completion of a positive feasibility study (“PFS”). These milestone payments can be made in cash or in shares of Minco. Minco can also purchase 0.5% of any NSR royalty for $1 million by the sixth anniversary of the agreements.

Overviews of the projects. The Sagvoll and Sulitjelma polymetallic projects in Norway are located in the early Paleozoic VMS belt in Norway, which saw numerous districts and mines in operation from the 1600’s through the 1990’s.

Sagvoll Project, Caledonian VMS Belt, Southern Norway: The Sagvoll project in southern Norway consists of both VMS and magmatic nickel-copper sulfide mineralization developed along the Caledonian orogenic trend. This metallogenic region represents a tectonically displaced continuation of the Cambrian-Ordovician VMS belts in northeastern North America, which includes the Buchans and Bathurst VMS camps in eastern Canada, and also the Avoca VMS district in Ireland. As such, this represents one of the more prolific VMS belts in the world in terms of total production from its various mining districts, albeit now tectonically displaced and occurring along opposite sides of the Atlantic Ocean.

At Sagvoll, mineralization and historic mining areas are positioned along a 13 kilometer trend. Although multiple historic mines are present in the area, only limited historical drilling has taken place, most of which were drilled over 100 years ago. Many prospects and mining areas remain untested. The most recent work conducted in the district took place in 2006, when Xstrata PLC (“Xstrata”) flew airborne geophysical surveys and identified five prioritized nickel-copper targets and 11 VMS targets for further exploration and drill testing3. However, the follow-up exploration work was never completed.

EMX has identified several “walk-up” style drill targets based upon the historical and more recent Xstrata data, and will work closely with Minco to systematically explore the area.

Sulitjelma District, Central Norway: The Sulitjelma VMS district was discovered in 1858 and was mined continuously from 1891-1991. Sulitjelma was one of the last operating base metal mines in Norway. VMS style mineralization occurs along a trend that extends for over 20 kilometers and is developed along multiple stratigraphic horizons and structurally repeated sections. Metamorphism and deformation have caused thickening and repetition of mineralized horizons in the area. The district produced over 25 million tonnes, averaging 1.84% copper, 0.86% zinc, 10 grams per tonne silver and 0.25 grams per tonne gold4. Significant historical resources were left unmined at the time of closure in the early 1990’s.

The district has seen very little work since the mines closed. Recent (2014) airborne geophysical surveys highlighted multiple conductive anomalies along the main trend of mineralization that have not yet been drill tested, and EMX geologists have found outcropping expressions of VMS style mineralization, also along trend, that have not been developed or drill tested.

More information on the Projects can be found at www.EMXroyalty.com.

Nearby Mines and Deposits. The nearby mines and deposits discussed in this news release provide context for EMX’s projects, which occur in similar geologic settings, but this is not necessarily indicative that the Company’s projects host similar tonnages or grades of mineralization.

Dr. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and the TSX Venture Exchange under the symbol EMX, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 973-8585
Dave@emxroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@emxroyalty.com

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
IBelger@EMXroyalty.com

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

Forward-Looking Statements

This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserve and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended March 31, 2022 and the year ended December 31, 2021 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2021, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.



Figure 1. Location map

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/1508/131338_d5e2fe13d47a5a32_002full.jpg

1 By the sixth anniversary of the agreement, Minco can purchase 0.5% of EMX’s NSR royalty by paying EMX $1 million, thereby reducing the royalty to 2.0%.
2 If Minco retains all three projects, Minco will only be responsible for paying two of the advance royalty payments.
3 Internal Xstrata PLC internal report by Beaudoin for A/S Sulfidmalm Project 206, “Report of field work in the Skjarkerdalen area, central Norway: Summer 2006”. On file at Geological Survey of Norway (NGU).
4 Historical production data from the Geological Survey of Norway (NGU) Ore Database, Deposit Area 1841-024, updated Dec 18, 2017.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131338

Categories
Base Metals Collective Mining Energy Junior Mining Precious Metals

Collective Mining Discovers a Broad Mineralized Zone and More High-Grade Gold and Silver Veins from Sampling at the Olympus Target; Drilling to Commence in August

Collective Mining Ltd.
Collective Mining Ltd.

Figure 1

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

Figure 2

Plan View of the Olympus Central Target Outlining the BMZ Area and the Zone of Multiple, High-Grade, CBM Veins
Plan View of the Olympus Central Target Outlining the BMZ Area and the Zone of Multiple, High-Grade, CBM Veins

Figure 3

Photos of High-Grade CBM Veins Reported Herein
Photos of High-Grade CBM Veins Reported Herein

TORONTO, July 19, 2022 (GLOBE NEWSWIRE) — Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce the discovery of a potentially significant broad mineralized zone as well as additional high-grade gold and silver assay results from channel samples taken at the Olympus target (“Olympus”) at the Company’s 100% owned Guayabales project in Caldas, Colombia. A noteworthy discovery drill hole from the northern area of Olympus was announced by the Company in March 2022, with OLC-3 yielding 302 metres @ 1.11 g/t AuEq from near surface. Olympus is one of the eight porphyry-related targets situated within a three-by-four-kilometre cluster area generated by the Company through grassroots exploration at the Guayabales project. As part of its fully funded 20,000+ metre drill program for 2022, there are currently three diamond drill rigs operating at the Apollo target, which is located approximately 800 metres south-southeast of Olympus. Furthermore, additional rigs have been secured to begin the Phase II program at Olympus with the first hole anticipated to commence drilling from underground in August 2022.

Highlights (See Tables 1-2 and Figures 1-3)

  • Continuous channel sampling, where possible, were taken by the Company along a historical crosscut covering a 182.45 metre horizontal width and hosting multiple mineralized veins, veinlets and structures within intensely altered porphyry and country rocks. This sampling has outlined a broad mineralized zone (“BMZ”) with assay results as follows:
    • 182.45 metres @ 1.15 g/t gold equivalent (true horizontal width)

Sampling from the eastern half of the crosscut was in oxidized material, which the Company believes may be underrepresenting the actual grade because previously announced chip channel sample assay results within vein material at slightly lower elevations directly below this area of the crosscut yielded materially higher grades. (See press releases dated May 12, 2022 and June 1, 2022)

Table 1: Crosscut Channel Sampling Assay Results

Crosscut SamplingFrom
(m)		To
(m)		Width
(m)		Au
(g/t)		Ag
(g/t)		AuEq
(g/t)*
 0.00182.45182.450.89231.15
Incl.7.7013.205.502.62563.23
 113.70120.006.302.73292.98
 130.15132.152.001.831964.34
 162.15167.054.902.44583.10
 177.40182.455.058.03698.55

*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.014 x 0.95), Ag – $21/oz and Au US$1,500/oz and recovery rates of 95% for Au, Ag. Recovery rate assumptions are speculative as no metallurgical work has been completed to date. Channel samples are taken continuously along the walls of the underground crosscuts. Approximately 8% of the total horizontal length could not be sampled due to timber support. Assay results are uncapped, and no cut-off grade has been applied.

  • Assay results of chip channel samples taken from veins located within historical, shallow underground working faces at Olympus, directly west of the BMZ zone, continue to confirm the presence of multiple, high-grade carbonate base metal (“CBM”) sheeted vein systems with results as follows:

Table 2: Chip Channel Sample Assay Results from Olympus

Channel
Sample		Au
(g/t)		Ag
(g/t)		AuEq
(g/t)*		True Width
(metres)
1118.792,359144.230.25
224.6216025.523.00
33.311825.571.40
433.2332835.930.50
523.6146628.630.90
69.716610.101.30
79.15469.311.00
83.17904.201.55
96.53697.121.00
104.021455.761.70

* AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.014 x 0.95), Ag – $21/oz and Au US$1,500/oz and recovery rates of 95% for Au, Ag. Recovery rate assumptions are speculative as no metallurgical work has been completed to date. Channel samples are taken across the working faces of historical and current artisanal mining drifts. Assay results are uncapped, and no cut-off grade has been applied. Assay results for base metals are still pending for all channel samples listed above.

  • The high-grade CBM veins outlined above are located directly west of the BMZ and collectively both areas outline a target zone measuring greater than 300 metres of width which remains open in all directions. Historical workings along veins to the northwest and southeast of the crosscut indicate a potential strike length to the systems of at least 500 metres which is open for expansion.
  • Drilling, underground sampling and surface mapping to date have expanded Olympus to a target area measuring more than 1,400 metres by 900 metres, which hosts over 50 artisanal mines with over 25 veins mapped from available exposures. The results outlined in this press release cover only the southwest portion of this target area. Previous drilling in the northern portion of the target area returned broad intercepts of up to 301.9 metres @ 1.11 g/t gold equivalent (see press release dated March 15, 2022). The Company believes that the probability is high that additional veins and BMZ zones will be discovered as exploration ramps up. To date only small portions of the target area have been drill tested or sampled and the Olympus target remains open to the east, west, northwest, south and at depth.
  • A phase II underground drill program will commence in August 2022 and is expected to ramp up in scale for the balance of the year as new drill chambers are constructed and additional rigs are added.

“The presence of both broad mineralized zones and high grade CBM veins at Olympus is exciting and highlights the potential for a combination of both bulk and selective mining scenarios in the future. To date we have only covered with drilling and sampling a few small windows within this large mineralized system. We look forward to drilling the southwest portion of the system beginning in August as the highest-grade samples found to date are from within this area,” commented Ari Sussman, Executive Chairman.

“On another front, we are now drilling with three rigs at the Apollo target and continue to intercept potentially significant lengths of mineralized breccia with overprinting CBM veins. We will provide further details in the coming weeks once new holes are completed and logged. Assay results from holes APC-1W and APC-2 at Apollo are expected shortly and will be announced once results have been received, compiled are interpreted by the Company.”

Figure 1: Plan View of the Guayabales Project Highlighting the Olympus Target
https://www.globenewswire.com/NewsRoom/AttachmentNg/2f58ea15-a41e-4bb9-82c4-fdd5692a5322

Figure 2: Plan View of the Olympus Central Target Outlining the BMZ Area and the Zone of Multiple, High-Grade, CBM Veins
https://www.globenewswire.com/NewsRoom/AttachmentNg/22aa4689-7f30-49d6-997e-81b182606357

Figure 3: Photos of High-Grade CBM Veins Reported Herein
https://www.globenewswire.com/NewsRoom/AttachmentNg/00651ec9-46bd-4198-841f-e237644b06ef

About Collective Mining Ltd.

Twitter: @CollectiveMini1
Instagram: CollectiveMining
LinkedIn: Collective Mining
Facebook: Collective Mining

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

Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making significant new mineral discoveries and advance the projects to production. Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company currently holds an option to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program on both the Guayabales and San Antonio projects, a total of eight major targets have been identified. The Company is fortuitous to have made significant grassroot discoveries at both projects with near-surface discovery holes at the Guayabales project yielding 302 metres at 1.1 g/t AuEq at the Olympus target, 163 metres at 1.3 g/t AuEq at the Donut target and 87.8 metres at 2.49 g/t AuEg at the Apollo target. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See press releases dated October 27th, 2021, November 15, 2021, March 15, 2022 and June 22, 2022 for AuEq calculations.)

Qualified Person (QP) and NI43-101 Disclosure

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

Technical Information

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

Contact Information

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

FORWARD-LOOKING STATEMENTS

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

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

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

Categories
Gold Shore Resources Junior Mining Precious Metals

(VIDEO) Goldshore Resources Provides Update on Technical Disclosure

Vancouver, British Columbia–(Newsfile Corp. – July 18, 2022) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“) is issuing this press release as a result of a review by the British Columbia Securities Commission to clarify its disclosure regarding the Moss Lake Gold Deposit in Northwest Ontario, Canada (the “Moss Lake Property“).

The Company wishes to clarify that the technical report entitled “Technical Report on the Moss Lake Project, Ontario, Canada, Report for NI 43-101” dated April 6, 2021 prepared by SLR Consulting (Canada) Ltd. in respect of the Moss Lake Property (the “Technical Report“) remains current. The Technical Report contains disclosure of a historical mineral resource estimate on the Moss Lake Property. There is no current mineral resource estimate on the Moss Lake Property.

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

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

For More Information – Please Contact:

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

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

Facebook: GoldShoreRes | Twitter: GoldShoreRes | LinkedIn: goldshoreres

Cautionary Note Regarding Forward-Looking Statements

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131198

Categories
Base Metals Collective Mining Energy Junior Mining

Collective Mining Announces Trading on the OTCQX and DTC Eligibility of its Common Shares in the United States

Collective Mining Ltd.
Collective Mining Ltd.

TORONTO, July 18, 2022 (GLOBE NEWSWIRE) —  Collective Mining Ltd. (TSXV: CNL) (OTCQX:CNLMF) (“Collective” or the “Company”) is pleased to announce that its common shares are now trading on the OTCQX® Best Market under the symbol “CNLMF”. Collective upgraded to the OTCQX from the Pink® market and its common shares are eligible for electronic clearing and settlement through The Depository Trust Company (“DTC”) in the United States. Collective’s common shares will continue to trade on the TSX Venture Exchange under the symbol “CNL”.

Upgrading to the OTCQX Market enables Collective to provide transparent trading for U.S. investors. Streamlined market standards enable the Company to utilize its TSX listing to make information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

DTC is a subsidiary of the Depository Trust & Clearing Corporation, a United States company that manages electronic clearing and settlement for publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered to be “DTC eligible”.   DTC eligibility is expected to simplify the process of trading and transferring the Common Shares and to enhance the liquidity of the Common Shares in the United States because of the accelerated settlement period and the expected reduction in costs for investors and brokers, enabling the Company’s common shares to be traded over a wider selection of brokerage firms.

Ari Sussman, Collective’s Executive Chairman, commented, “We are excited to graduate from the Pink® market and begin trading on the OTCQX Market. This achievement, along with our DTC eligibility, will give a greater number of investors the opportunity to invest in Collective and enable participation in our exciting growth story.”

Nauth LPC acted as OTCQX sponsor.

About OTC Markets Group Inc.

OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.

Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

About Collective Mining Ltd.

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

Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making significant new mineral discoveries and advance the projects to production. Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. Collective currently holds an option to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program on both the Guayabales and San Antonio projects, a total of eight major targets have been defined. The Company is fortuitous to have made significant grassroot discoveries at both projects with near-surface discovery holes at the Guayabales project yielding 302 metres at 1.11 g/t AuEq at the Olympus target, 163 metres at 1.3 g/t AuEq at the Donut target and 87.8 metres at 2.49 g/t AuEg at the Apollo target. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See press releases dated October 27th, 2021, November 15, 2021, March 15, 2022 and June 22, 2022 for AuEq calculations)

Contact Information

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

FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

This press release contains forward-looking information in a number of places, such as in statements relating to the benefits to be derived by the Company’s securities trading on the OTCQX and the eligibility of the Company’s securities on DTC. There can be no assurance that such statements will prove to be accurate, as Collective’s actual results and future events could differ materially from those anticipated in this forward-looking information as a result of the factors discussed in the “Risk Factors” section in Collective’s Annual Information Form, which is available at www.collectivemining.com or on SEDAR.

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

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