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Junior Mining Lion One Metals Precious Metals

Lion One Extends the URW3 Lode, a Key Component of The 500 Zone Feeder, with Several Bonanza-Grade Drill Intercepts at Its Tuvatu Gold Mine, Fiji

North Vancouver, British Columbia–(Newsfile Corp. – November 18, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce that the Company has produced additional bonanza-grade drilling intercepts and expanded the Deep Feeder Zone 500 by increasing the vertical extent of the URW3 Lode by at least 180 m at its high-grade Tuvatu Alkaline Gold Project in Fiji.

The results from these holes confirm a significant increase in the vertical extension and continuity of the URW3 mineralized zone, which occurs on the western margin and as part of the high-grade feeder zone. The new drill intercepts, in conjunction with results from the previously drilled TUG-138 drill hole, correspond to a significant increase in grade with depth, as numerous bonanza-grade intercepts return gold assay values ranging from 100-800 g/t gold. Additionally, this drilling confirms an increase in the vertical extent of this distinct portion of the 500 zone feeder by at least 180 m. The high-grade feeder zone remains open at depth.

Overall, the drill results reported here are consistent with a persistent, substantial upside being realized at Tuvatu resulting from the aggressive deep drilling adopted by the company since the initial discovery of the deep feeder zone by hole TUDDH-500, in July of 2020.

Highlights:

An increase of at least 180 m in the vertical extent of the URW3 lode as defined by bonanza grade intercepts

Multiple high-grade intercepts including from TUG-149 including 12.89 g/t Au over 12.9 m from 254.4 m, 84.61 g/t Au over 3.9 m from 318.6 m, and 48.65 g/t Au over 5.4 m from 423.3 m

Definition of a new portion of deep, high-grade feeder material that is separate from, and parallel to, the high-grade zone previously defined by TUG-141/TUDDH-601/TUDDH-608

Select high-grade intercepts

Hole IDFrom (m)To (m)Intercept
(m)
Au g/t
TUG-149254.4267.312.912.89
including259.2259.50.3134.97
318.6322.53.984.61
including321.3321.60.3536.50
321.6321.90.3530.60
423.3428.75.448.65
including426.0426.30.3802.47
TUDDH-613529.0529.30.3108.52
TUDDH-616624.2631.77.59.43
including624.2626.62.412.11
and627.2628.71.523.59
which includes627.5627.80.363.86

Technical advisor to the Company, Dr. Quinton Hennigh commented: This drilling is leading us closer and closer to the main conduits of this remarkable high-grade gold system. Without question, URW3 is turning into a big branch of the ‘tree.’ The junction between it and the rest of the 500 Zone looks like it forms a pipe, perhaps the one that has allowed mineralizing fluids to flow upwards. If we chase this down with further drilling, I think it could lead us to parts of the system in which considerable gold was deposited. We must keep drilling.

Drill holes TUDDH-613 and 616, and TUG-149 were designed to follow up the previously announced discovery of the very high-grade zone of Au mineralization discovered by hole TUG-141 (Read June 6, 2022 News Release), and subsequently followed up by holes TUDDH-601 (Read August 15, 2022 News Release), and TUDDH-608 (Read Nov. 7, 2022 News Release). Holes TUG-149, TUDDH-613, and TUDDH-616 all intersected a distinct zone, located approximately 60 m to the west of the TUG-141 structural corridor, that corresponds to the down-dip projection of the URW3 lode (Figure 1). The substantial bonanza-grade intercepts (Figure 2) in these drill holes, along with the high-grade intercepts in a previously reported hole TUG-138 (Read June 6, 2022 News Release) of 23.14 g/t Au over 3.0 m including 118.6 g/t Au over 0.3 m, collectively define a significant vertical extension to URW3 of at least 180 m.

Sr. Vice-President of Exploration, Sergio Cattalani states: “This is yet another major advance in our continuing efforts to follow and delineate what is increasingly understood to be the principal high-grade feeder at Tuvatu. While we believe we are rapidly defining major portions of the feeder structures, we are also confident that we are in no way near its base. This feeder is developing into a bonanza-grade zone defined by multiple major channel-ways that appear to coalesce. With the TUG-141/TUDDH-601/608 zone, and now the URW3 zone, we have at least two, distinct but likely interconnected corridors of continuous high-grade mineralization to follow up. We’re just getting started…

Figure 1 below represents a 15 m thick longitudinal section along the dip-extent of the URW3 lode, and illustrates the effect of TUG-149, TUDDH-613, and TUDDH-616 on what appears to be the downward extension of this important structure. The TUDDH-613 and TUDDH-616 traces are relatively short because the holes are oblique to the section. TUG-149 appears as a longer continuous trace as it remained at a very low angle to the dip of the URW3 lode. This is also reflected by the long interval of 12.9m of 12.89 g/t Au from 254.4-267.3m depth. TUG-138 (red diamonds) was a pre-existing hole, but in light of the most recent drill results, is now interpreted to also form part of the downward extension of the URW3 lode.



Figure 1. Longitudinal section, 15 m in thickness in the plane of the URW3 lode (striking N007°, dipping -79°SE). Red dots represent new intercepts reported here; Red diamonds represent intercepts previously reported by hole TUG-138. Photos of selected intercepts above in Figure 2.

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/2178/144799_e229c35874cc28b8_001full.jpg.



Figure 2: Plate A: ladder-style vein at low angle to core axis, TUG-149: 251.4m, 35.36 g/t Au; Plate B: close-up view of mineralization consisting of euhedral pyrite and sphalerite in a matrix consisting of a very fine mixture of silica and dark brown pyrite, TUG-149: 259.5m, 134.97 g/t Au; Plate C: coarse VG on edge of quartz-pyrite veinlet, TUG-149: 321.6m, 536.5 g/t Au; Plate D: very coarse VG in quartz-pyrite veinlet, TUG-149: 426.1m, 802.5 g/t Au; Plate E: ladder-style quartz-pyrite vein, TUDDH-616: 605.5m, 17.10 g/t Au; Plate F: edge of dark silica-pyrite hydrothermal breccia vein, TUDDH-616: 615.5m, 24.89 g/t Au; Plate G: very coarse crystalline and wire VG in a vug along a quartz-pyrite vein, TUDDH-616: 627.5m, 63.86 g/t Au; Plate H: close-up view of the coarse crystalline and wire gold in same sample as Plate G, photographed using a field binocular microscope.

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/2178/144799_fig2lion.jpg.

Table 1: Includes the location and other information for listed DDH holes

HOLE IDEASTINGNORTHINGELEVATIONAZIMUTHDIPDEPTH (M)
TUG-14918764383920584115.1115.0-77.0in progress
TUDDH-61318762803920472286.390.0-68.0869.90
TUDDH-61618762803920472286.392.0-71.0767.70

Table 2: Drilling intervals returning >0.5 g/t Au. Intervals > 3.0 g/t Au cutoff are displayed in red. Intervals > 9.0 g/t Au or longer than 1.2 m are displayed in bold.

Hole IDFrom (m)To (m)Interval (m)Au g/t
TUG-149187.5188.10.60.86
208.5208.80.30.72
236.1237.00.91.85
245.4248.12.71.49
251.1252.00.913.77
including251.4251.70.335.36
254.4267.312.912.89
including255.0255.30.35.60
including255.9256.20.344.14
including256.2256.50.359.64
including256.8257.10.317.64
including257.1257.40.3T33.17
including257.4257.70.317.41
including257.7258.00.346.76
including258.0258.30.329.45
including259.2259.50.3134.97
including259.5259.80.315.90
including259.8260.10.35.86
including260.1260.40.360.19
including260.4260.70.321.32
including261.3261.60.314.55
including261.6261.90.37.95
312.0313.51.516.02
including312.6312.90.360.03
including312.9313.20.312.02
including313.2313.50.36.60
315.0315.60.61.72
318.6322.53.984.61
including318.9319.20.37.48
including321.3321.60.3536.50
including321.6321.90.3530.60
including321.9322.20.35.32
353.1353.40.30.59
359.4360.00.65.26
including359.4359.70.38.89
390.3390.60.30.53
393.6393.90.30.58
394.8395.70.90.71
401.7402.30.60.87
419.7420.00.31.93
423.3428.75.448.65
including424.8425.10.35.53
including425.1425.40.35.26
including425.7426.00.317.53
including426.0426.30.3802.47
including426.6426.90.36.31
including426.9427.20.37.05
including427.8428.10.318.01
432.3432.90.60.58
441.0441.30.39.20
486.4490.64.28.96
including487.0487.30.37.22
including487.9488.20.35.88
including488.2488.50.310.33
including489.1489.40.37.67
including489.4489.70.349.97
including489.7490.00.335.57
hole still in progress
TUDDH-61335.536.10.60.59
37.037.90.90.78
160.4161.00.61.38
452.2452.50.30.68
529.0529.30.3108.52
531.1532.00.90.82
535.6543.17.52.76
including539.8543.13.35.45
which includes540.7541.30.625.10
551.2554.23.08.39
including551.2552.10.95.02
including552.1552.70.611.67
including553.3553.90.69.36
including553.9554.20.324.54
580.0580.90.90.50
594.6596.11.50.65
627.4631.94.50.96
633.7634.00.30.71
755.0755.30.30.51
TUDDH-61636.837.70.90.70
604.6607.93.32.99
including605.2606.10.98.65
which includes605.2605.50.317.10
614.8617.62.85.73
including615.1616.41.311.55
which includes615.4615.70.324.89
618.8620.31.53.91
including618.8619.40.67.61
624.2631.77.59.43
including624.2626.62.412.11
including627.2628.71.523.59
which includes627.2627.50.337.09
and also includes627.5627.80.363.86
including629.9631.11.23.43
633.5634.71.216.76
including634.1634.70.629.54
636.5637.10.60.59

About Tuvatu
The Tuvatu Alkaline Gold Project is located on the island of Viti Levu in Fiji. The January 2018 mineral resource for Tuvatu as disclosed in the technical report “Technical Report and Preliminary Economic Assessment for the Tuvatu Gold Project, Republic of Fiji”, dated September 25, 2020, and prepared by Mining Associates Pty Ltd of Brisbane Qld, comprises 1,007,000 tonnes indicated at 8.50 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and on the SEDAR website at www.sedar.com.

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

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

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

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

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/144799

Categories
Base Metals Energy Junior Mining Precious Metals Rover Metals

Rover Metals Announces and Arranges $0.08 Unit Financing

Rover Metals Corp.
Rover Metals Corp.

VANCOUVER, British Columbia, Nov. 16, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to announce a non-brokered private placement financing for a minimum of $350,000 and a maximum of $800,000. The Company will issue $0.08 units. Each unit is priced at $0.08 and is comprised of one common share and one common share purchase warrant (the “Units”). The warrants on the Units have an exercise price of $0.12 per warrant share, and a life of two and half (2 ½) years. Assuming the financing is fully subscribed, there will be up to 10,000,000 common shares and 10,000,000 common share purchase warrants issued in connection with this financing, plus any finder’s commission warrants.

Further to the above announcement, Rover has also now received approval from the Toronto Venture Exchange (TSXV) to close the first tranche of the Unit financing for gross proceeds of $376,000 (the “First Closing”). The Company will issue of 4,700,000 common shares and 4,700,000 warrants. Finders’ commissions are being paid in connection with the First Closing in the amount of cash commissions of $13,312.50 and finders’ warrants of 266,250. The finder’s warrants will have an exercise price of $0.12 and a useful life of two and half (2 ½) years. The shares and warrants issued under the First Closing will bear the minimum four-month regulatory hold period from the date of issuance.

An updating release will be provided once the Company has completed the Unit financing.

Shares for Services Agreement
The TSXV has also approved a common shares for services issuance pursuant to a previously approved consulting agreement with one of the Company’s former arm’s length advisors. Services in the amount of $22,500 for the three-month period from July 1, 2022 to September 30, 2022 will be paid through the issuance of 187,500 common shares at a deemed price of $0.12 per share. The arm’s length advisory agreement expired effective September 30, 2022. The shares will bear the minimum four-month regulatory hold period from the date of issuance.

About Rover Metals
Rover is a publicly traded junior mining company that trades on the TSXV under symbol ROVR, on the OTCQB under symbol ROVMF (temporarily trading as ROVMD), and on the FSE under symbol 4XO. The Company is now developing a diverse portfolio of mineral resource projects: (1) Nevada Claystone Lithium; (2) Zinc-Copper-Lead-Silver in NT, Canada; as well as (3) Gold in NT, Canada. The Company is exclusive to the mining jurisdictions of the U.S. and Canada.

You can follow Rover on its social media channels:
Twitter: https://twitter.com/rovermetals
LinkedIn: https://www.linkedin.com/company/rover-metals/
Facebook: https://www.facebook.com/RoverMetals/
for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber
for corporate videos.
Subscribe to our Newsletter on our Website: https://www.rovermetals.com/

ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director

For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2617

Statement Regarding Forward-Looking Information
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

Categories
Gold Shore Resources Junior Mining Precious Metals

IIROC Trading Halt – GSHR

VANCOUVER, BC, Nov. 15, 2022 /CNW/ – The following issues have been halted by IIROC:

Company: Goldshore Resources Inc.

TSX-Venture Symbol: GSHR

All Issues: Yes

Reason: Pending News

Halt Time (ET): 10:08 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

Cision
Cision

View original content: http://www.newswire.ca/en/releases/archive/November2022/15/c5573.html

Categories
Junior Mining Lion One Metals Precious Metals

Lion One Discovers Broad Zone of Narrow Gold Lodes at Batiri Creek, Located 2km NE Adjacent to the Tuvatu Gold Mine in Fiji

North Vancouver, British Columbia–(Newsfile Corp. – November 15, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) provides compelling evidence of multiple mineralized centers within the Navilawa Caldera. A high-grade drill result (15.04 g/t Au over 0.3m) returned from diamond drill hole TUDDH-614 complements the regional high-grade gold discovery, first identified by surface sampling (13.27 g/t Au over 4.0m, Figure 3, Figure 4), at the Batiri Creek Lode Complex (“BCLC”) located 2.0 km NE adjacent to the Company’s 100% owned, fully permitted Tuvatu Alkaline Gold Project.

The broad, steeply-dipping BCLC was discovered by benching and surface channel sampling in August of this year as part of a continuing regional exploration program (August 29 2022 News Release Announcing Batiri Creek Discovery). This ongoing program includes multiple surface sampling techniques including BLEG (Figure 1) and has yielded a host of peripheral, high-grade, mineralized centers adjacent to the Tuvatu mine.

Several such occurrences (Figure 2) have been identified in addition to the BCLC which are generally characterized by multi cm-scale vein swarms making up narrow lodes. It is believed by Lion One’s geologic team that these narrow lodes represent the uppermost expression of stronger, wider gold lodes at depth. Narrow lodes at the BCLC can be thought of as the uppermost fractures that converge and coalesce at depth to form a larger feeder system. The BCLC’s elevation is approximately 150m above the elevation of Tuvatu, thus more of the uppermost part of the mineralized fracture system may be preserved here. Interestingly, these lodes are often situated along the lithological contact between monzonite and andesite, a setting like that of the deep high-grade feeder (500 Zone) below the currently identified resource at Tuvatu. Given that the BCLC is more than 2.0 km NE of the Tuvatu lode system, it is believed that these lodes formed from a zone of upwelling fluids that is unique and entirely independent from those at Tuvatu.

Batiri Creek Lode Complex Surface and Drill Results:

DDH TUDDH-614 Results, Batiri Lode:

TUDDH-614: Azimuth: 272°, Dip:- 45°, TD: 171.9m, Elevation: 328.1m
– 1.81 g/t Au over 0.3m from 102.3 to 102.6m
– 15.04 g/t Au over 0.3m from 118.3 to 118.6m

Surface Channel Samples: “Batiri” Lode (CH3047-CH3048) (Figure 3)
– 13.27 g/t Au over 4.0m at surface including:
Including: 36.10 g/t Au over 1.0m and
Including: 17.91 g/t Au over 0.80m

Surface Channel Samples, Other Batiri Lodes:
– 2.63 g/t Au over 1.0m from channel CH2765
– 3.32 g/t Au over 0.3m from channel CH2834
– 3.54 g/t Au over 0.3m from channel CH2789
– 3.42 g/t Au over 0.4m from channel CH2946
– 3.32 g/t Au over 1.0m from channel CH3073

Lion One technical advisor Quinton Hennigh stated, “Tuvatu and the wider Navilawa Caldera are part of a classic alkaline gold system. As we know, from geologically comparable world-class systems, such as Porgera in PNG or Cripple Creek in Colorado, these kinds of deposits are not isolated and there is potential for multiple zones of mineralization each associated with a plume of upwelling hydrothermal fluids. The discovery at the BCLC represents a prospective zone where increasingly thick Tuvatu type lodes may be found at moderate levels below the current erosional surface. Although early rains limited Lion One’s ability to drill more extensively at BCLC this season, TUDDH-614 yielded a solid high-grade intercept that might be telling us there is a bigger prize below. Lion One will return to expand the drill program at BCLC as well as other regional targets at the onset of the next dry season.



Figure 1. Target-rich environment with world-class BLEG results from the Navilawa Caldera.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/144280_95811d14b47fa810_001full.jpg

Note: Tuvatu Mine and Batiri Creek prospect (location of Batiri Vein Complex, >2.0 km NE of Tuvatu)



Figure 2. Map showing surface channel sampling at Batiri Vein relative to the Tuvatu Gold Deposit

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/144280_95811d14b47fa810_002full.jpg



Figure 3. Photograph and channel sampling results of “Batiri” Lode (channel CH3047-3048)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/144280_95811d14b47fa810_003full.jpg



Figure 4a: Plan map of Batiri Creek surface benching, channel sampling, and TUDDH-614.bTUDDH-614 (drill collar in map) is drilled at 272 degrees from E to W beneath the surface location of high-grade channel samples (all >0.5 g/t Au surface channel samples are indicated on the map).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/144280_95811d14b47fa810_004full.jpg



Figure 4b: Benching at Batiri Creek Lode Prospect. Map to show >0.5g samples along Batiri Creek bench and the drill trace of TUDDH-614. Note the high-grade Au samples in drill core; 1.81 g/t Au over 0.3m from 102.3 to 102.6m and 15.04 g/t Au over 0.3m from 118.3 to 118.6m are 95m below the surface hit. This newly drilled lode is on strike within the NE-trending structural corridor that hosts some of the principal UR lodes at the Tuvatu gold deposit.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/144280_95811d14b47fa810_005full.jpg

About Tuvatu

The Tuvatu Alkaline Gold Project is located on the island of Viti Levu in Fiji. The January 2018 mineral resource for Tuvatu as disclosed in the technical report “Technical Report and Preliminary Economic Assessment for the Tuvatu Gold Project, Republic of Fiji”, dated September 25, 2020, and prepared by Mining Associates Pty Ltd of Brisbane Qld, comprises 1,007,000 tonnes indicated at 8.50 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and on the SEDAR website at www.sedar.com.

Qualified Person

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

QAQC Procedures

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

About Lion One Metals Limited

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

On behalf of the Board of Directors of Lion One Metals Limited

Walter Berukoff“, Chairman and CEO

Contact Investor Relations

Toll Free (North America) Tel: 1-855-805-1250 Email: info@liononemetals.com

Website: www.liononemetals.com

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/144280

Categories
Junior Mining Lion One Metals Precious Metals

Lion One Intersects 17.52 g/t Gold over 23.7m in Deep Zone 500 Drilling at Tuvatu Alkaline Gold Project in Fiji

North Vancouver, British Columbia–(Newsfile Corp. – November 7, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce results from hole TUDDH 608 as part of its ongoing deep drill program in definition of the “500” zone. Exceptional results include 23.7 meters (m) averaging 17.52 g/t gold with a horizontal true width of 10.4m. Mineralized intervals are inclusive of several bonanza-grade intercepts. This hole is consistent with Lion One’s geological model of a robust Alkalic gold system with increasing gold grade at depth.

Highlights

A deep high-grade intercept of 17.52 g/t Au over 23.7m with 10.4m true width from TUDDH 608
Targeting intersection of TUG 141 (20.86 g/t Au over 76.9m) and TUDDH 601 (12.22 g/t Au over 54.9m)
Structural interpretation for a deep high grade feeder system taking shape in Zone 500

TUDDH 608 – select high grade intercepts

From mTo mIntercept mGrade g/t Au
594.5618.223.7017.89
594.5614.119.6021.16
596.7603.16.4042.58
596.7597.91.2085.10
599.8600.40.60108.31

Lion One Senior Vice President Exploration Sergio Cattalani commented “By drilling at a high angle across the TUG 141 (20.86 g/t gold over 76.9m) / TUDDH 601 (12.22 g/t Au over 54.9m) high-grade zone, TUDDH 608 was able to provide valuable information on the width and continuity of this zone. The outstanding results obtained of 17.52 g/t gold over 23.7m corresponds to a horizontal true width of 10.4m, which is approximately seven times the estimated average mining width, and at a grade that is nearly twice the average grade of the existing resource. The significance of this zone and its likely contribution to the increase in overall contained ounces cannot be overstated, as the extent of this zone may be much greater than previously thought. We are currently drilling several additional holes to test the possible plunge extent estimated by oriented core structural measurements. We will continue to report additional results as they become available.”

Hole TUDDH 608 (azimuth: 089°, dip: -64°), drilled from west to east, was designed drill across the high-grade zone identified in two directions by TUG 141 and TUDDH 601 (Figures 1, 2). With the completion of TUDDH 608 we can now better understand the true horizontal width and potential volume of the bonanza-grade feeder zone. The results are outstanding with 23.7m drilled width at 17.5 g/t gold, including 19.6m of 20.7 g/t gold (Figures 3-10). The horizontal true width of the zone at the drilled location is 10.4m (Figure 1). Lion One regards the confirmation of the high-grade feeder zone initially identified by TUG 141 and TUDDH 601 as transformational in that it confirms both continuity and implies extensive volume of the mineralized feeder zone below the current resource. Mineralization in TUDDH 608 extends from 594.5m to 618.2m (Table 1).

These results are part of ongoing exploration, infill, and grade-control drill programs. They complement the excellent results obtained by both the metallurgical and infill drill programs completed earlier this year and reported on October 4, 2022 Lion One Drills Exceptional High-Grade Intersections as Part of Metallurgical Drill Program, and February 23, 2022 Lion One Reports Additional High-Grade Intercepts, Completes Phase 1 Infill Drill Program at Tuvatu. The additional results from this on-going program reported here will be applied to the ongoing remodeling of the Tuvatu orebody that will inform the resource update and PEA scheduled for Q1 2023.

Lion One CEO Walter Berukoff commented “We look forward to further definition of the “Jewel box” dilatational feeder zone that we have been drilling out beneath the existing resource starting from surface at Tuvatu. This hole provides outstanding results for us as it continues to lend credence and proof-of-concept to the thesis of a deeper, very high-grade, feeder-style zone at depth. We continue to add enormous value to the mine as well as the critical exploration upside with the drill bit. We are defining what looks to be the next major high-grade discovery and world-class gold deposit right here in Fiji. We look forward to further results in very near future.”

Assay Data for TUDDH 608

Drill HoleEastingNorthingElevationAzimuthDipLength (m)
TUDDH 6081876280.43920472.4286.589-64678.1
Drill HoleFrom (m)To (m)Interval (m)Au (g/t)
TUDDH 60838.038.60.61.04
263.8264.40.60.79
285.1285.70.60.69
493.6493.90.33.08
503.2510.06.82.45
Including506.7507.30.610.50
511.2515.74.51.45
517.8518.10.31.09
519.3523.23.91.50
557.1557.70.69.09
Including557.1557.40.311.65
Including557.4557.70.36.52
559.2559.80.63.03
571.4572.61.29.42
Including571.4572.00.617.03
Including572.0572.60.61.80
576.5577.40.90.51
594.5618.223.717.89
Which Includes594.5614.119.621.16
Also Including596.7603.16.442.58
Including596.7597.91.285.10
Including597.9598.60.79.42
Including598.6598.90.38.38
Including598.9599.20.311.44
Including599.2599.50.36.98
Including599.5599.80.336.39
Including599.8600.40.6108.31
Including600.4600.70.321.69
Including600.7601.71.013.54
Including601.7602.20.523.21
Including602.5603.10.680.02
and603.1603.70.67.05
Including603.7604.00.311.98
Including606.0606.60.654.54
Including606.6607.20.612.00
Including607.2607.80.68.30
Including607.8608.40.629.57
Including609.3609.60.324.31
Including610.2610.80.610.85
Including610.8611.10.37.54
Including611.4612.10.745.02
Including612.1612.90.813.31
and612.9613.80.90.54
and613.8614.10.31.87
and614.1616.12.0<0.5
616.1618.22.14.26
Including616.1616.70.611.72
Including616.7617.50.81.87
Including617.5618.20.70.59
670.2670.50.31.05

Figure 1: Tuvatu Alkalic gold mine. Blue shapes are areas of known mineralization that define the current resource. Note the trifecta of holes that delineate, in 3 different orientations, the 10.4m true width of the “Jewel Box” high-grade zone (Brown =>10 g/t Au) which occurs within the larger high-grade 500 feeder zone

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/143271_01ab336bd4c69bc8_001full.jpg



Figure 2: Closer view of the lower portion of Figure 1, depicting theorientation of selected drill holes that define a coherent high-grade portion within the high-grade 500 Zone mineralization entirely below the current resource.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/143271_01ab336bd4c69bc8_002full.jpg

Figure 3: TUDDH 608. Visible gold at 571.5m. Grade: 17.03 g/t Au

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/143271_01ab336bd4c69bc8_003full.jpg

Figure 4: TUDDH 608. Mineralized Andesite core at 596.7-597.9m. Grade: 85.41 g/t Au over 1.2m

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/143271_01ab336bd4c69bc8_004full.jpg



Figure 5: TUDDH 608. Gold-bearing mm scale veins at 599.5m. Grade: 36.39 g/t Au

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/143271_01ab336bd4c69bc8_005full.jpg



Figure 6: TUDDH 608. Gold-bearing veins at 600.5m. Grade: 21.69 g/t Au

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/143271_01ab336bd4c69bc8_006full.jpg

Figure 7: TUDDH 608. Gold-bearing mm-scale veins at 600.8m. Grade: 13.54 g/t Au

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/143271_01ab336bd4c69bc8_007full.jpg

Figure 8: TUDDH 608. Visible gold at 602.6-603.0m within mm-scale vein. Grade: 80.02 g/t Au

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/143271_01ab336bd4c69bc8_008full.jpg



Figure 9: TUDDH 608. High-grade material hosted within mm-scale ladder vein at 606.5m. Grade: 54.54 g/t Au

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/143271_01ab336bd4c69bc8_009full.jpg



Figure 10: TUDDH 608. Visible gold in cut core. Grade: 45.02 g/t Au

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/143271_01ab336bd4c69bc8_010full.jpg

Qualified Person

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

QAQC Procedures

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

About Lion One Metals Limited

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

On behalf of the Board of Directors
of Lion One Metals Limited

Walter Berukoff
Chairman and CEO

For further information
Contact Investor Relations

Toll Free (North America)
Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/143271

Categories
Energy Junior Mining Precious Metals

Dolly Varden Silver Intersects 1.50m of 1,367 g/t Ag within 12.51 meters Grading 442 g/t Ag at Kitsol Vein

Vancouver, British Columbia–(Newsfile Corp. – November 7, 2022) – Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce results from drilling at the Torbrit Resource area, including infill and step-out drilling within the Kitsol Vein zone.

The high-grade, potentially bulk-mineable Kitsol Vein continued to deliver outstanding, contiguous silver and base metal mineralization, where DV22-291 intersected 12.51m (8.88m true width) averaging 442 g/t Ag, 0.68% Pb and 0.42% Zn, including of 1,367 g/t Ag over 1.50m (1.07m true width), as an up-dip infill hole from previous high-grade intercepts.

Highlights include:

  • DV22-289: 979 g/t Ag over 0.49 meters true width, step out at Torbrit Main
  • DV22-291: 442 g/t Ag over 8.88 meters true width, infill at Kitsol
  • DV22-298: 372 g/t Ag over 10.78 meters true width, up-dip extension at Kitsol
  • DV22-308: 297 g/t Ag over 6.59 meters true width, step out at Torbrit Main
  • DV22-312: 585 g/t Ag over 3.30 meters true width, step out at Torbrit Main

“In addition to discovery-focused exploration drilling, Dolly Varden Silver has been prioritizing resource expansion and upgrading at the Torbrit/Kitsol, Wolf, Homestake Main and Homestake Silver deposits. We continue to encounter wide, potentially bulk-mineable vein-hosted silver mineralization at Kitsol, and expect to announce significant drill results from the other resource areas in the next few weeks,” said Shawn, Khunkhun, President and CEO.

The 2022 exploration drill program on the Kitsault Valley trend has completed 37,061m in 108 drill holes. Drilling wrapped up in mid-October, with the majority of assays still pending. Additionally, ground geophysics, surface mapping and prospecting work were completed, evaluating historic prospects and identifying new silver and gold occurrences.

Torbrit Main and North Deposits consist of distinctive stratabound silver mineralization associated with a high potassium and coincident sodium depletion alteration signature. Layers consist of red jasper with bladed crystal growths after barite later replaced by silica. Relatively quick capping of the system by volcanic activity caused an overprinting of epithermal brecciation and veining which further augmented the silver grades within the deposit area.



Figure 1. Drill hole DV22-308 from Torbrit Main showing typical red jasperoid stratabound mineralization with epithermal overprint carrying higher silver grades

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/1728/143231_102a401624b57ac9_002full.jpg.

The main focus of Torbrit step out drilling at the Torbrit Main Deposit targeted the southern limits of the current Mineral Resource. Drill holes were oriented to step-out from, as well as infill areas of modelled inferred resources (see Figure 3). The Torbrit horizon was intersected in all expansion holes; future infill drilling programs will target high grade shoots within the lower grade horizon, which were commonly encountered in historic mining at the Torbrit, Wolf and Dolly Varden deposits.



Figure 2. Location along the Kitsault Valley trend

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/1728/143231_102a401624b57ac9_003full.jpg.

The Kitsol Vein is considered part of the epithermal, structurally controlled system that over printed the stratabound layers. Mineralization consists of pyrargerite (ruby silver), argentite and native silver in a silica breccia vein system. The northeast/southwest orientation of the vein and nature of the high grade silver plunge is similar to what is developing at the Wolf deposit 1.4km to the north (see figure 2).

Drilling during the 2022 season at Kitsol has encountered wide, high grade silver mineralization, commonly with overprinting high-grade vein shoots within wide vein sets. Previously reported step-out drill hole DV22-283 that intersected 50.18m (~30.0m true width) averaging 414 g/t Ag (see news release August 10, 2022) suggest multiple high-grade, steeply plunging yet wide silver shoots that extend to surface, as demonstrated by up-dip hole DV22-298 which intersected 21.55m (10.78m true width) grading 372 g/t Ag (see Figure 5). Additional results from step-out drill holes testing deeper, down plunge mineralization from DV22-283 at the Kitsol Vein are pending.



Figure 3. Plan map, Torbrit Resource Area with 2019 resource block model. Yellow/orange blocks indicates targeted expansion areas of Inferred and exploration potential respectively.

To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/1728/143231_102a401624b57ac9_004full.jpg.



Figure 4. Geological Cross Section (A-B) of southern Torbrit deposit with 2019 modelled mineralized envelope in red and 2022 drilling with mineralized intercepts as pink lithology

To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/1728/143231_102a401624b57ac9_005full.jpg.



Figure 5. Kitsol vein long section highlighting six 2022 infill and expansion drill holes that define a steep plunge to high-grade silver mineralization. Section view looking Northwest.

To view an enhanced version of Figure 5, please visit:
https://images.newsfilecorp.com/files/1728/143231_102a401624b57ac9_006full.jpg.

Table 1. Drill hole assays for Torbrit Deposit Area (including Kitsol Vein zone as noted).

Hole IDFromToCore
Length
(m)
True
Width
(m)*
Ag
(g/t)
Pb
(%)
Zn
(%)
Au
(ppm)
AgEq**
(g/t)
DV22-282
(Kitsol)
175.38179.053.672.832100.480.110.04232
DV22-284111.33112.971.641.31500.586.10NSV299
and114.43115.511.080.861290.161.45NSV189
and125.32128.853.532.82270.113.440.06165
DV22-286
(Kitsol)
173.54174.500.960.581410.810.550.15200
and177.00183.956.954.171880.240.160.09209
including178.80179.530.730.444480.150.180.16473
including181.92182.420.500.305640.290.110.39609
DV22-287176.00177.001.000.90NSVNSV1.69NSV64
DV22-28911.4912.000.510.499790.370.16NSV996
DV22-291
(Kitsol)
120.19132.7012.518.884420.260.31NSV462
including120.19120.720.530.381441.211.330.05236
including125.50127.001.501.0713670.220.17NSV1380
DV22-29019.2119.940.730.704060.170.13NSV416
DV22-292NSV
DV22-29388.3491.803.463.431360.050.02NSV138
including90.7791.801.031.021660.080.03NSV170
DV22-295
(Kitsol)
145.90152.006.103.481450.850.36NSV185
including147.40151.003.602.051660.230.33NSV186
and240.50241.000.500.292300.020.010.01232
DV22-298
(Kitsol)
25.4547.0021.5510.783720.680.42NSV409
including27.7934.566.773.397851.590.64NSV858
including27.2528.851.600.805175.482.40NSV777
including29.5030.501.000.5010540.500.21NSV1077

*Calculated true widths vary depending intersection angles and range from 50% to 100% of intersection lengths
**AgEq is calculated using $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn

Table 1 con’t. Drill hole assays for Torbrit Deposit Area (including Kitsol Vein zone as noted).

Hole IDFromToCore
Length
 (m)
True
Width
(m)*
Ag
(g/t)
Pb
(%)
Zn
(%)
Au
(ppm)
AgEq**
(g/t)
DV22-29681.0082.251.250.891191.150.27NSV165
and85.0588.503.452.451301.310.41NSV186
and90.0091.001.000.71981.280.35NSV151
and108.40115.607.205.11601.440.67NSV130
and124.25125.401.150.822740.050.43NSV292
DV22-297NSV
DV22-29919.4523.003.553.121660.030.06NSV169
and30.5031.000.500.445173.160.09NSV618
and52.3552.830.480.422672.290.07NSV341
and74.7375.480.750.662420.260.10NSV254
and107.12112.004.884.291680.150.50NSV192
and122.87123.530.660.581990.250.19NSV214
DV22-301127.50129.001.500.663700.550.15NSV393
and163.30164.160.860.381530.260.200.01168
including173.16173.950.790.352350.220.16NSV248
DV22-303150.91154.853.943.433250.420.060.30340
DV22-305157.00159.262.262.211680.210.05NSV176
and170.05170.550.500.492830.050.02NSV285
DV22-306114.00117.413.413.411320.400.640.01170
and119.00123.504.504.501660.120.560.02193
and148.00151.443.443.441910.060.030.01194
and155.00159.004.004.001450.180.090.01155
DV22-308146.18154.528.346.592971.250.47NSV354
including149.75152.282.532.007731.290.68NSV839
DV22-309126.62128.581.961.841930.480.030.01210
DV22-310NSV
DV22-31260.0063.303.303.305850.020.06NSV588
including60.0061.131.131.1310500.020.06NSV1053
and105.25108.623.373.371590.130.04NSV165
DV22-31380.0081.101.101.101580.010.30NSV169
and105.00106.671.671.671600.300.09NSV173

*Calculated true widths vary depending intersection angles and range from 50% to 100% of intersection lengths
**AgEq is calculated using $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn

Table 2. Drill hole locations.

Hole IDZoneEasting
UTM83 (m)
Northing
UTM83 (m)
Elev. (m)AzimuthDipLength
 (m)
DV22282Kitsol4675436172134404118-45214.00
DV22286Kitsol467543617213440490-58438.00
DV22284Torbrit467833617163934928-59472.35
DV22287Torbrit467833617163934928-88215.00
DV22289Torbrit468026617133435250-6890.00
DV22290Torbrit468026617133435250-69165.00
DV22291Kitsol4675716172168394100-50300.00
DV22295Kitsol4675716172168394100-60339.00
DV22292Torbrit468040617128735855-45129.00
DV22293Torbrit468405617130964970-50137.00
DV22296Torbrit468405617130964945-65150.00
DV22297Torbrit468405617130964945-80201.00
DV22299Torbrit468405617130964915-50183.00
DV22298Kitsol4676276172140371115-65121.00
DV22301Torbrit468330617140564345-82237.00
DV22303Torbrit4683266171329605120-83216.00
DV22305Torbrit4683266171329605200-80216.00
DV22306Torbrit468221617139054945-55216.00
DV22308Torbrit468221617139054950-80219.00
DV22309Torbrit468228617126352235-60177.00
DV22310Torbrit468228617126352235-78201.00
DV22312Torbrit468320617121656845-58150.00
DV22313Torbrit468320617121656845-75150.00

Quality Assurance and Quality Control

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

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

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

Qualified Person

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

About Dolly Varden Silver Corporation

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

Forward-Looking Statements

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

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

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/143231

Categories
Base Metals Energy Junior Mining Precious Metals

RooGold Closes Property Acquisition

TORONTO, ON / ACCESSWIRE / November 3, 2022 / (CSE:ROO)(OTC PINK:JNCCF)(Frankfurt:5VHA) – RooGold Inc. (“RooGold” or the “Issuer“).

Further to its September 30, 2021 news release, RooGold is pleased to announce, with Australian regulatory clearance obtained, the final closing of the definitive Share Exchange Agreement with Aussie Precious Metals Corp. (“APMC“) in which RooGold has effectively acquired a 100% interest in APMC’s Trilby and Lorne properties (“Properties“) in New South Wales (NSW) Australia. The Issuer issued four million (4,000,000) common shares (the “Purchase Shares“) to the shareholders (“Shareholders“) of APMC in exchange for all of the issued and outstanding shares of APMC with the Properties held in APMC’s wholly owned Australian subsidiary. The Purchase Shares have now been released from escrow subject to voluntary undertakings as to when such Purchase Shares may be traded.

About RooGold Inc.
ROOGOLD is a Canadian based junior venture mineral exploration issuer which is uniquely positioned to be a dominant player in New South Wales, Australia, through a growth strategy focused on the consolidation and exploration of high potential, mineralized precious metals properties in this prolific region of Australia. Through its announced acquisitions of Southern Precious Metals Ltd., RooGold Ltd. and Aussie Precious Metals Corp. properties, RooGold commands a portfolio of 13 high-grade potential gold (9) and silver (4) concessions covering 1,380 km2 which have 137 historic mines and prospects.

For further information please contact:
Ryan Bilodeau
(416) 910-1440
info@roogoldinc.com

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur.

Although the Issuer believes that the expectations reflected in applicable forward-looking statements are reasonable, therecan be no assurance that such expectations will prove to be correct. Such forward-looking statements are subjectto risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE: RooGold Inc.



View source version on accesswire.com:
https://www.accesswire.com/723910/RooGold-Closes-Property-Acquisition

Categories
Gold Shore Resources Junior Mining Precious Metals

Goldshore Intersects 1.34 g/t Au over 90.95m in 100 Meter Step-Out to the North

Vancouver, British Columbia–(Newsfile Corp. – November 2, 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 (the “Moss Lake Gold Project“).

Highlights:

  • Results for eight holes, drilled to both expand and infill historic but poorly surveyed drill sections in the Main Zone, have confirmed higher-grade gold mineralization within a large volume of well mineralized diorite with best intercepts of:
  • Results for four holes, drilled to evaluate the under-drilled Southwest Zone, have confirmed narrow higher-grade gold mineralized structures with best intercepts of:

President and CEO Brett Richards stated: “Throughout our entire drilling campaign from 2021 to now, we have consistently and repeatedly delivered promising drill results, indicating not only the size and scale potential of the Moss Lake Project, but also the quality of the higher-grade areas of the deposit. As we illustrated at the end of H1 2022, our focus turned from identifying and drilling the size of the global resource; to identifying the high(er) grade sections contained within the historical resource (and stepped out from the historical resource), and focusing on building a much smaller open pit project PEA around this. The results from this change in focus are evident in press releases in H1 2022 and Q3 2022, and continue with the results highlighted today. To that end, we are expediting our independent mineral resource estimate (“MRE“) on the high(er) grade sections within the historical resource, and look to have the results of this MRE presented to the market by the end of 2022, versus the end of Q1 2023, as previously guided. This will also lead to the Company accelerating a preliminary economic assessment (“PEA“) on a smaller, high(er) grade resource, but much more manageable project in terms of CapEx and project timeline, versus a large-scale project PEA on an updated larger resource similar to the historic resource. The target delivery to the market of the economic results of the PEA is slated for the end of Q1 2023, under current market conditions and circumstances, versus the end of Q2 2023, as previously guided.”

Technical Overview

Figure 1 shows the better intercepts in plain view and Figure 2 is a typical section through hole MMD-22-057.

Figure 1: Drill plan showing best of several +1 g/t Au intercepts relative to implicit modelled grade shells

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/8051/142661_77d166be4416c9d5_002full.jpg

Figure 2: Drill section through MMD-22-057 relative to implicit modelled grade shells showing 100-meter step out to the north

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/8051/142661_77d166be4416c9d5_003full.jpg

Over the last month, results have been received for eighteen holes, including:

  • Eight holes that have infilled areas of the Main Zone that are between sections drilled by historic holes with collar survey problems. They will replace the low-confidence historic holes in the upcoming resource model update.
  • Four holes drilled to evaluate the under-drilled Southwest Zone.
  • Five holes testing the margins of the main +1 g/t Au zones that provide valuable geological information in these marginal areas.

As with the historic holes, the Main and Southwest Zone holes intersected several broad zones of low-grade mineralization within the altered diorite intrusion host. Examples include 0.98 g/t Au over 50.9m from 51m and 0.32 g/t Au over 122m from 473m depth in MMD-22-036; 0.48 g/t Au over 88m from 388m and 0.53 g/t Au over 33m from 279m depth in MMD-22-042; 0.46 g/t Au over 133m from 443m depth and 0.35 g/t Au over 29.25m from 316.85m depth in MMD-22-048; 0.70 g/t Au over 126m from 335m depth and 0.89 g/t Au over 60.6m from 120.4m depth in MMD-22-053; 0.80 g/t Au over 25.35m from 563.65m depth in MMD-22-055; 0.64 g/t Au over 44m from 168m depth and 0.63 g/t Au over 33.65m from 237.35m depth in MMD-22-064; 0.47 g/t Au over 38.1m from 615.45m depth in MMD-22-066; and 0.46 g/t Au over 27.65m from 366.25m depth in MMD-22-078.

All these low-grade zones occur as envelopes to higher-grade structures that 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., 1.34 g/t Au over 90.95m from 254.05m depth in MMD-22-057) and several narrow high-grade intervals, including better intercepts of 39.3 g/t Au over 0.7m from 90.45m depth in MMD-22-036; 47.4 g/t Au over 0.5m from 420.25m depth in MMD-22-052; 11.4 g/t Au over 2.35m from 549m depth in MMD-22-056; 26.7 g/t Au over 1m from 287m depth in MMD-22-057; and 231 g/t Au over 0.35m from 182.75m depth in MMD-22-064.

Four holes were drilled into the Link zone and potential overlap between the QES zone and Moss Main zone to properly define the boundaries of each zone and to better understand the behavior of the southern edge of the altered diorite package. These dominantly drilled through the lesser altered and deformed porphyritic diorite phase containing several narrow lenses of low-grade mineralization as indicated by the historic drill results.

Geological modelling of the altered diorite host rock and anastomosing shear network at Moss Lake has progressed faster than anticipated and is now complete. As a result, the Company has embarked on an independent resource modelling exercise and has engaged international consulting group, CSA Global (an ERM group company) to complete this work. This will lead to a new Mineral Resource estimate that will be reported following National Instrument 43-101 standards for disclosure. This new estimate will be published before the end of 2022.

Pete Flindell, VP Exploration for Goldshore, said, “These drill results continue the vein of local high grade gold mineralization that bulks out to produce 50- to 200-meter-wide zones of +1 g/t Au gold mineralization within a “sea” of low-grade mineralization. This style of mineralization is capable of producing large, low-grade gold resources with a significant volume of higher-grade mineralization. We anticipate that this should, with the selection of the appropriate gold price for the constraining Whittle shell, allow the reporting of a smaller, higher-grade resource at the Moss Lake Project.”

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

Table 1: Significant downhole gold intercepts

ZONEHOLE IDFROMTOLENGTH (m)TRUE WIDTH (m)CUT GRADE
(g/t Au)
UNCUT GRADE
(g/t Au)
MAINMMD-22-03622.0035.8013.804.40.620.62
51.00101.9050.9016.60.981.11
including62.5067.354.851.61.391.39
and84.5094.009.503.13.704.38
238.50256.3017.806.10.470.47
276.40286.209.803.40.460.46
including279.00281.852.851.01.011.01
419.10446.5027.4010.00.360.36
including420.00422.002.000.71.841.84
473.00595.00122.0047.40.320.32
613.45619.956.502.60.360.36
631.00634.753.751.50.470.47
671.45686.0014.555.80.350.35
MAINMMD-22-048190.00192.402.401.50.780.78
220.00227.007.004.30.540.54
277.60285.007.404.50.340.34
316.85346.1029.2518.00.350.35
373.55400.0026.4516.31.051.05
including388.00399.1511.156.91.601.60
443.00576.00133.0084.20.460.46
including446.00458.2012.207.61.081.08
and467.90472.004.102.61.371.37
and521.00538.3517.3511.11.031.03
602.00614.0012.007.80.310.31
620.00635.4015.4010.00.560.56
MAINMMD-22-052104.35111.006.653.40.460.46
138.00140.002.001.10.310.31
274.25277.303.051.70.440.44
311.15313.352.201.30.350.35
MAINMMD-22-05318.0027.009.004.90.390.39
33.0038.005.002.70.420.42
49.3566.3016.959.10.370.37
77.0081.454.452.41.581.58
including77.7581.453.702.01.811.81
92.20100.208.004.21.631.63
including92.2098.005.803.12.102.10
120.40181.0060.6032.10.890.89
including121.00139.0018.009.51.801.80
and158.00167.009.004.81.721.72
201.00205.004.002.10.530.53
222.00225.003.001.65.245.24
248.00263.0015.007.80.380.38
285.00304.0019.009.90.350.35
310.60313.002.401.30.350.35
335.00461.00126.0065.60.700.70
including341.00344.003.001.61.141.14
and355.60399.2543.6522.71.301.30
and444.00450.006.003.11.631.63
487.75490.002.251.20.570.57
MAINMMD-22-054383.00389.606.602.10.420.42
429.40434.304.901.60.510.51
531.05539.007.952.60.310.31
MAINMMD-22-055168.00182.8514.858.40.300.30
212.00215.003.001.70.730.73
360.60374.9014.307.81.071.07
including364.00374.9010.905.91.281.28
525.40528.252.851.61.551.55
563.65589.0025.3514.20.800.80
including581.05583.802.751.63.083.08
600.00612.1012.106.90.360.36
MAINMMD-22-056181.00185.604.602.10.520.52
221.00225.004.001.80.380.38
267.00270.353.351.50.340.34
287.85296.008.153.70.630.63
336.35342.255.902.60.620.62
353.70358.454.752.10.350.35
379.40387.658.253.61.201.20
441.00461.5020.508.90.490.49
502.00561.9059.9025.51.021.02
including509.00511.002.000.93.163.16
and542.00551.359.354.04.784.78
593.30598.004.702.00.380.38
MAINMMD-22-05718.1026.258.152.82.662.66
40.9043.102.200.80.460.46
254.05345.0090.9534.21.341.34
including260.40272.4012.004.52.422.42
and283.55299.9516.406.24.024.02
and312.00328.7516.756.31.041.04
366.00371.255.252.01.111.11
382.00385.003.001.20.700.70
457.50461.003.501.40.360.36
552.40559.006.602.70.360.36
570.00583.0013.005.50.340.34
594.00599.005.002.10.340.34
SWMMD-22-04236.9541.004.052.70.870.87
106.65110.754.103.00.490.49
209.00212.053.052.50.500.50
239.00241.002.001.70.430.43
256.55266.009.458.10.970.97
including261.95266.004.053.51.771.77
279.00312.0033.0029.00.530.53
330.00341.0011.0010.00.940.94
366.00377.0011.0010.20.740.74
including370.00377.007.006.51.081.08
388.00476.0088.0084.10.480.48
including388.00396.258.257.72.262.26
SWMMD-22-050162.00168.356.355.00.680.68
194.40207.1012.7010.40.480.48
300.15312.9012.7511.40.820.82
including303.00311.008.007.11.101.10
SWMMD-22-06428.0031.853.852.51.421.42
42.4555.1012.658.20.920.92
168.00212.0044.0029.90.642.24
including182.00185.503.502.43.6423.70
237.35271.0033.6523.20.630.63
including250.25252.402.151.51.591.59
SWMMD-22-066451.00453.252.251.70.580.58
559.35572.0012.659.70.310.31
586.00589.003.002.30.390.39
599.00609.5510.558.20.360.36
615.45653.5538.1030.10.470.47
including625.00627.002.001.61.081.08
LINKMMD-22-074603.85607.904.053.10.660.66
LINKMMD-22-07862.5567.905.353.60.400.40
366.25393.9027.6520.10.460.46
422.55425.502.952.20.310.31
447.80455.407.605.70.640.64
including452.20455.403.202.41.081.08
492.25498.406.154.60.310.31
LINKMMD-22-08183.0091.008.005.60.450.45
253.20257.654.453.30.640.64
286.55295.008.456.30.510.51
335.00353.9518.9514.40.300.30
LINKMMD-22-082122.00131.009.006.50.740.74
including122.00124.002.001.51.221.22
147.00149.002.001.50.510.51
167.00178.0011.008.20.900.90
including172.00175.003.002.21.341.34
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. Bordered 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.

Table 2: Location of drill holes in this press release

ZONEHOLEEASTNORTHRLAZIMUTHDIPEOH
MAINMMD-22-036668,8685,379,279441154°-71°690.00
SWMMD-22-042668,5205,378,529436158°-50°516.00
MAINMMD-22-048668,7055,379,209435155°-52°690.00
SWMMD-22-050668,5175,378,529437110°-50°464.00
MAINMMD-22-052668,9945,379,542438155°-60°597.30
MAINMMD-22-053669,0145,379,307427154°-61°605.85
MAINMMD-22-054668,7055,379,209435150°-70°576.00
MAINMMD-22-055668,7215,379,279443154°-59°618.00
MAINMMD-22-056668,8015,379,340438151°-61°600.00
MAINMMD-22-057668,8875,379,368437154°-70°603.00
SWMMD-22-064668,4815,378,460439109°-51°407.15
SWMMD-22-066669,0775,378,242432290°-50°654.30
LINKMMD-22-074669,2415,378,339430335°-51°660.85
LINKMMD-22-077669,6595,379,054432335°-60°12.00
LINKMMD-22-078669,6595,379,055432337°-50°603.00
LINKMMD-22-079669,5735,379,011437336°-50°333.00
LINKMMD-22-081669,4695,378,982428334°-48°375.00
LINKMMD-22-082669,2485,378,768437335°-46°347.85

Analytical and QA/QC Procedures

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

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

About Goldshore

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

About the Moss Lake Gold Project

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

The Moss Lake Gold Project hosts a number of gold and base metal rich deposits including the Moss Lake Deposit, the East Coldstream Deposit (Table 3), the historically producing North Coldstream Mine (Table 4), and the Hamlin Zone, all of which occur over a mineralized trend exceeding 20 km in length. A historical preliminary economic assessment (the “Moss Lake Historical Estimate“) was completed on the Moss Lake Gold Project in 2013 and published by Moss Lake Gold Mines Ltd. (“Moss Lake Gold Mines“)1,3. A historical mineral resource estimate (the “East Coldstream Historical Estimate“) was completed on the East Coldstream Deposit in 2011 by Foundation Resources Inc.2,3 In addition to these zones, the Moss Lake Gold Project also hosts a number of under-explored mineral occurrences which are reported to exist both at surface and in historically drilled holes. The Moss Lake Deposit is a shear-hosted disseminated-style gold deposit which outcrops at surface. It has been drilled over a 2.5 km length and to depths of 300 m with 376 holes completed between 1983 and 2017. The last drilling program conducted in 2016 and 2017 by Wesdome Gold Mines Ltd. (“Wesdome“), which consisted of widely spaced holes along the strike extension of the deposit was successful in expanding the mineralized footprint and hydrothermal system 1.6 km to the northeast. Additionally, the deposit remains largely open to depth. In 2017, Wesdome completed an induced polarization survey which traced the potential extensions of pyrite mineralization associated with the Moss Lake Deposit over a total strike length of 8 km and spanning the entire extent of the survey grids.

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

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

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

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

Table 3: Historical Mineral Resources1,2,3

INDICATEDINFERRED
DepositTonnesAu g/tAu ozTonnesAu g/tAu oz
Moss Lake Historical Estimate
Open Pit Potential39,795,0001.11,377,30048,904,0001.01,616,300
Underground Potential1,461,1002.9135,400
Moss Lake Total39,795,0001.11,377,30050,364,0001.11,751,600
East Coldstream Historical 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. “Technical Report and Preliminary Economic Assessment for the Moss Lake Project”, prepared for Moss Lake Gold Mines Ltd. The qualified persons for the Moss Lake Historical Estimate are Pierre-Luc Richard, MSc, PGeo (InnovExplo Inc), and Carl Pelletier, BSc, PGeo (InnovExplo Inc), and the effective date of the Moss Lake Historical Estimate is February 8, 2013. In-Pit results are presented undiluted and in situ, within Whittle-optimized pit shells. Underground results are presented undiluted and in situ, outside Whittle-optimized pit shells. The Moss Lake Historical Estimate includes 18 gold-bearing zones and 1 envelope containing isolated gold intercepts. Whittle parameters: mining cost = C$2.28; pit slope angle = 50.0 degrees; production cost = C$9.55; mining Dilution = 5%; mining recovery = 95%; processing recovery = 80% to 85%; gold price = C$1,500. In-Pit and Underground resources were compiled at cut-off grades from 0.3 to 5.0 g/t Au (for sensitivity characterization). A cut-off grade of 0.5 g/t Au was selected as the official in-pit cut-off grade and a cut-off grade of 2.0 g/t Au was selected as the official underground cut-off grade. The Moss Lake Historical Estimate is based on 352 diamond drill holes (90,978 m) drilled from 1983 and 2008. A fixed density of 2.78 g/cm3 was used. A minimum true thickness of 5.0 m was applied, using the grade of the adjacent material when assayed or a value of zero when not assayed. Capping was established at 35 g/t Au, supported by statistical analysis and the high grade distribution within the deposit. Compositing was done on drill hole sections falling within the mineralized zone solids (composite = 1 m). Resources were evaluated from drill hole samples using the ID2 interpolation method in a multi-folder percent block model using Gems version 6.4. Based on geostatistics, the ellipse range for interpolation was 75m x 67.5m x 40m. The Indicated category is defined by combining the blocks within the two main zones and various statistical criteria, such as average distance to composites, distance to closest composite, quantity of drill holes within the search area. Ounce (troy) = metric tons x grade / 31.10348. Calculations used metric units (metres, tonnes and g/t). The number of metric tonnes was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations in NI 43-101.

(2) Source: McCracken, T. “Technical Report and Resource Estimate on the Osmani Gold Deposit, Coldstream Property, Northwestern Ontario”, prepared for Foundation Resources Inc. and Alto Ventures Ltd. The East Coldstream Historical Estimate is based on a 0.4 g/t Au cut-off grade. The qualified persons for the East Coldstream Historical Estimate are Todd McCracken, P.Geo. (Tetratech Wardrop), and Jeff Wilson, Ph.D., P.Geo. (Tetratech Wardrop), and the effective date of the East Coldstream Historical Estimate is December 12, 2011. Resources are presented unconstrained, undiluted and in situ. The East Coldstream Historical Estimate includes 2 gold-bearing zones. A cut-off grade of 0.4 g/t Au was selected as the official resource cut-off grade. The East Coldstream Historical Estimate is based on 116 diamond drill holes drilled from 1986 to 2011. A fixed density of 2.78 g/cm3 was used. Capping was established at 5.89 g/t Au and 5.70 g/t Au for domains EC-1 and EC-2, respectively. This is supported by statistical analysis and the high grade distribution within the deposit. Compositing was done on drill hole sections falling within the mineralized zone solids (composite = 1 m). Resources were evaluated from drill hole samples using the ID2 interpolation method in a multi-folder percent block model using Datamine Studio 3 version 3.20.5321.0. Resource categorization is based on spatial continuity based from the variography of the assays within the drillholes. Ounce (troy) = metric tons x grade / 31.10348. Calculations used metric units (metres, tonnes and g/t). The number of metric tonnes was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations in NI 43-101.

(3) The reader is cautioned that the Moss Lake Historical Estimate East and the East Coldstream Historical Estimate (the “Historical Estimates“) are considered historical in nature and as such is based on prior data and reports prepared by previous property owners. The reader is cautioned not to treat them, or any part of them, as current mineral resources or reserves. The Company has determined these historical resources are reliable, and relevant to be included here in that they demonstrate simply the mineral potential of the Moss Lake Gold Project. A qualified person has not done sufficient work to classify the Historical Estimates as current resources and Goldshore is not treating the Historical Estimates as current resources. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the Historical Estimates can be classified as a current resource. There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability. Even if classified as a current resource, there is no certainty as to whether further exploration will result in any inferred mineral resources being upgraded to an indicated or measured mineral resource category. The Historical Estimates relating to inferred mineral resources were calculated using prior mining industry standard definitions and practices for estimating mineral resource and mineral reserves. Such prior definitions and practices were utilized prior to the implementation of the current standards of the Canadian Institute of Mining for mineral resource estimation, and have a lower level of confidence.

Table 4: Reported Historical Production from the North Coldstream Deposit4

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

Note:

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

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

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

For More Information – Please Contact:

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

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

Facebook: GoldShoreRes | Twitter: GoldShoreRes | LinkedIn: goldshoreres

Cautionary Note Regarding Forward-Looking Statements

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

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Lake Gold Project, release of the MRE, release of a PEA, 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/142661

Categories
Energy Junior Mining Precious Metals Uncategorized

Bravo Intersects Exceptional Thickness of High-Grade PGMs at Luanga

Highlights include 58.8m @ 2.11g/t PGM+Au, and 19.8m @ 2.68g/t PGM+Au

VANCOUVER, BC, Nov. 2, 2022 /CNW/ – Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), (“Bravo” or the “Company“) today announced that it has received assay results from an additional nine infill diamond drill holes (“DDH”) from its Luanga palladium + platinum + rhodium + gold + nickel (3PGM+Au+Ni) project (“Luanga” or “Luanga PGM+Au+Ni“), located in the Carajás Mineral Province, state of Pará, Brazil.

“Drill hole DDH22LU029, which intersected 58.8m @ 2.11g/t 3PGM+Au from 9.7m, is one of the broadest zones of 3PGM+Au mineralization intersected at Luanga to date. This drill hole also demonstrates that multiple stacked 3PGM+Au+Ni zones exist stratigraphically above (see section attached) and below the previously defined mineralized horizons. This increases our confidence in both the overall 3PGM+Au+Ni potential of Luanga, and the potential for higher-grade nickel sulphide mineralization given the 39.4m @ 0.16% Ni intersected from 29.1m,” said Luis Azevedo, Chairman and CEO of Bravo. “Furthermore, DDH22LU029 intersected a zone of nickel-rich disseminated sulphides below the main mineralized horizons (see section attached), yet still within the same orthopyroxenite host stratigraphy, again opening the possibility for new as yet unseen styles of nickel sulphide mineralization at depth.”

Highlights

  • The infill drilling campaign continues to advance rapidly, while results compare well with, or exceed, the intercepts in historic drill holes on nearby drill sections, in both tenor and mineralized thicknesses.
  • Highlights of Bravo’s recent intercepts are tabulated below, with details attached:
HOLE-IDFrom(m)To(m)Thickness
(m)
Pd(g/t)Pt(g/t)Rh(g/t)Au
(g/t)
PGM + Au
(g/t)
Ni (%
Sulphide)
TYPE
DDH22LU0299.768.558.81.330.640.090.062.11NAOx/FR
Including29.168.539.41.120.480.070.071.740.16FR
And108.4117.18.72.121.700.24*0.034.09*0.05FR
And158.5165.06.50.330.140.010.010.500.43FR
DDH22LU01655.575.319.80.481.940.260.012.680.06FR/LS
DDH22LU02281.2101.019.81.270.770.120.052.210.23FR
Notes:  All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.
             Given the orientation of the hole and the mineralization, the intercept is estimated to be 80% to 90% of true thickness.
             Type: Ox = Oxide. LS = Low Sulphur. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.
             NA: Not Applicable as intercept is oxide or a mix of oxide and fresh rock mineralization.
             * = Includes Rh >1.00g/t result. Overlimit analyses pending.
  • In addition, two diamond drill holes were completed on two drill sections, 50m north and south of DDH22LU047, the hole that intercepted massive sulphides (see August 16th, 2022 news release). All four step out drill holes have intersected varying amounts of semi-massive sulphides. Assay results are pending.
  • Downhole Electromagnetic surveys (“EM”) on these 4 drill holes, and surface fixed loop EM over the Luanga deposit, have commenced.
  • 102 drill holes have been completed, for a total of 17,337 metres (or 68% of Phase 1 Drilling Program), including 6 twin holes and 6 metallurgical holes.
  • 17,689 samples submitted for assay to date including 3,216 re-assay samples from historic drill core.
  • 6 drill rigs operating onsite.

Luanga Drill Program

The Phase 1 diamond drill program continues as planned at Luanga. Six drill rigs are on site, with drilling progressing in various locations along the entire 8.1km strike length of the known Luanga mineralized envelope. To date, 102 drill holes have been completed, for a total of 17,337 metres (or 68%) of the planned 25,500 metre Phase 1 drill program.

Location of Bravo Drilling Reported in this Document (CNW Group/Bravo Mining Corp.)
Location of Bravo Drilling Reported in this Document (CNW Group/Bravo Mining Corp.)
Section – Showing DDH22LU029 Stacked 3PGM+Au+Ni Zones, and New Nickel Zone at Depth (CNW Group/Bravo Mining Corp.)
Section – Showing DDH22LU029 Stacked 3PGM+Au+Ni Zones, and New Nickel Zone at Depth (CNW Group/Bravo Mining Corp.)

Complete Table of Intercepts

HOLE-IDFrom(m)To(m)Thickness
(m)
Pd(g/t)Pt(g/t)Rh(g/t)Au
(g/t)
3PGM +
Au (g/t)
Ni (%
Sulphide)
TYPE
DDH22LU01655.575.319.80.481.940.260.012.680.06FR/LS
DDH22LU0218.013,05.00.290.24<0.010.010.54NAOx
DDH22LU02281.2101.019.81.270.770.120.052.210.23FR
DDH22LU0230.07.07.00.380.30<0.010.030.62NAOx
DDH22LU02466.676.09.40.770.290.120.051.240.22FR
DDH22LU02528.537.59.00.850.550.150.021.570.17FR
DDH22LU02788.191.13.00.420.270.030.010.730.01FR
And95.6103.68.00.260.090.050.010.400.01FR/LS
DDH22LU0280.024.024.00.250.26<0.010.010.52NAFR
DDH22LU0299.768.558.81.330.640.090.062.11NAOx/FR
Including29.168.539.41.120.480.070.071.740.16FR
And108.4117.18.72.121.700.24*0.034.09*0.05FR
And158.5165.06.50.330.140.010.010.500.43FR
Notes:  All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.
             Given the orientation of the hole and the mineralization, the intercept is estimated to be 80% to 90% of true thickness.
             Type: Ox = Oxide. LS = Low Sulphur. FR + Fresh Rock. Recovery methods and results will differ based on the type of mineralization.
             NA: Not Applicable as intercept is oxide or a mix of oxide and fresh rock mineralization.
             * = Includes Rh >1.00g/t result. Overlimit analyses pending.

About Bravo Mining Corp.

Bravo is a Canada and Brazil-based mineral exploration and development company focused on advancing its Luanga 3PGM + Au + Ni Project in the world-class Carajás Mineral Province of Brazil.

The Luanga Project benefits from being in a location close to operating mines, with excellent access and proximity to existing infrastructure, including road, rail and clean and renewable hydro grid power. The project area was previously de-forested for agricultural grazing land. Bravo’s current Environmental, Social and Governance activities includes replanting trees in the project area, hiring and contracting locally, and ensuring protection of the environment during its exploration activities.

Technical Disclosure
Technical information in this news release has been reviewed and approved by Simon Mottram, F.AusIMM (Fellow Australia Institute of Mining and Metallurgy), President of Bravo Mining Corp. who serves as the Company’s “qualified person”, as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101“). Mr. Mottram has verified the technical data and opinions contained in this news release.

Forward Looking Statements

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “Exceptional”, “High-Grade”, “Highlights”, “broadest”, “multiple”, “confidence”, “potential”, “rich”, “possibility”, “as yet unseen”, “continues”, “compare well”, “exceed”, “highlights”, and other similar words, phrases or statements that certain events or conditions “should”, or “will” occur. In particular, this news release contains forward-looking information pertaining to the Company’s ongoing re-assay and drill programs and the results thereof; the expected completion of geophysical surveys and the results of such surveys; the potential for the definition o new styles of mineralization and extensions to depth and the Company’s plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the assay results confirm the interpreted mineralization contains significant values of nickel, copper and also contain PGMs and Au; final drill and assay results will be in line with management’s expectations; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Schedule 1: Drill Hole Collar Details

HOLE-IDCompanyEast (m)North (m)RL (m)DatumDepth (m)AzimuthDip
DDH22LU016Bravo659067.999341140.05231.20SIRGAS2000 UTM22S199.0590.00-60.00
DDH22LU021Bravo660000.709341825.04256.77SIRGAS2000 UTM22S250.0090.00-60.00
DDH22LU022Bravo659195.859341118.15227.84SIRGAS2000 UTM22S150.30330.00-60.00
DDH22LU023Bravo660000.029341721.99241.36SIRGAS2000 UTM22S250.0590.00-60.00
DDH22LU024Bravo657100.069339629.97259.19SIRGAS2000 UTM22S170.00360.00-60.00
DDH22LU025Bravo659158.019341182.98225.69SIRGAS2000 UTM22S150.35330.00-60.00
DDH22LU027Bravo659245.189341231.67229.00SIRGAS2000 UTM22S150.35330.00-60.00
DDH22LU028Bravo657000.019339729.10296.06SIRGAS2000 UTM22S170.40360.00-60.00
DDH22LU029Bravo659836.039341725.05243.28SIRGAS2000 UTM22S183.7590.00-60.00


Schedule 2: Assay Methodologies and QAQC

Samples follow a chain of custody between collection, processing and delivery to the ALS laboratory in Parauapebas, state of Pará, Brazil. The drill core is delivered to the core shack at Bravo’s Luanga site facilities and processed by geologists who insert certified reference materials, blanks and duplicates into the sampling sequence. Drill core is half cut and placed in secured polyurethane bags, then in security-sealed sacks before being delivered directly from the Luanga site facilities to the Parauapebas ALS laboratory by Bravo staff. Additional information about the methodology can be found on the ALS global website (ALS) in the analytical guides.

Quality Assurance and Quality Control (“QAQC“) is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program is administered by Bravo using certified reference materials, duplicate samples and blank samples that are blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested.

Bravo ALS
PreparationMethodMethodMethodMethod
For All ElementsPt, Pd, AuRhNi-SulphideTrace Elements
PREP-31BPGM-ICP27Rh-MS25Ni-ICP05ME-ICP61
www.bravomining.com (CNW Group/Bravo Mining Corp.)
www.bravomining.com (CNW Group/Bravo Mining Corp.)

SOURCE Bravo Mining Corp.

Cision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2022/02/c5677.html

Categories
Energy Junior Mining Precious Metals Rover Metals

Rover Metals Receives Approval for Share Consolidation

Rover Metals Corp.
Rover Metals Corp.

VANCOUVER, British Columbia, Oct. 28, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) announces that further to its release of October 20, 2022, the Company has received approval from the TSX Venture Exchange (the “TSXV”) to consolidate its outstanding common shares (the “Common Shares”) on the basis of one (1) post-consolidation Common Share for each six (6) pre-consolidation Common Shares (the “Consolidation”). The Company currently has 157,585,212 Common Shares issued and outstanding and following the completion of the Consolidation will have 26,264,202 Common Shares issued and outstanding. Effective at the opening October 31, 2022, the common shares of the Company will begin trading on a consolidated basis.

There will be no name change and no ticker symbol change in connection with the Consolidation and shareholder approval is not required.

Judson Culter, CEO at Rover Metals, states “a consolidation of our Company’s securities is necessary to position Rover for growth and success with our new critical mineral projects. Both the Let’s Go Lithium Project, and the IML Zinc-Copper Project require Phase 1 and Phase 2 Exploration Programs. Additionally, the Company’s existing gold projects require expanded Phase 2 Exploration Programs. Management and the Directors of the Company believe that the timing is right for a consolidation as the Company will need to finance future exploration at all of its mineral resource projects.

About Rover Metals

Rover is a publicly traded junior mining company that trades on the TSXV under symbol ROVR, on the OTCQB under symbol ROVMF, and on the FSE under symbol 4XO. The Company is now developing a diverse portfolio of mineral resource projects: (1) Nevada Claystone Lithium; (2) Zinc-Copper-Lead-Silver in NT, Canada; as well as (3) Gold in NT, Canada. The Company is exclusive to the mining jurisdictions of Canada and the U.S.

You can follow Rover on its social media channels:

Twitter: https://twitter.com/rovermetals
LinkedIn: https://www.linkedin.com/company/rover-metals/
Facebook: https://www.facebook.com/RoverMetals/ 
for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber 
for corporate videos.
Website: https://www.rovermetals.com/

ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director

For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2617

Statement Regarding Forward-Looking Information
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.