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   Gold/Mining/EnergyMining News of Note


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To: LoneClone who wrote (140866)3/30/2020 3:12:39 PM
From: LoneClone
   of 143022
 
Guyana Goldstrike Updates Stakeholders on Marudi Gold Project

thenewswire.com

Vancouver, Canada - TheNewswire - March 25, 2020 - Guyana Goldstrike Inc. (the "Company" or "Guyana Goldstrike") (TSXV:GYA) (OTC:GYNAF) (FSE:1ZT). Effective November 1, 2016, the Company entered into share purchase agreement (the "Purchase Agreement") pursuant to which it agreed to acquire all of the outstanding share capital of Romanex Guyana Exploration Ltd. ("Romanex"). Romanex controls the rights to the mining license which comprises the Marudi Gold Project (the "Project") located in Guyana, South America.

In consideration for the acquisition of Romanex, the Company agreed to complete a series of cash payments and share issuances to the principals of Romanex. While the transaction contemplated by the Purchase Agreement was consummated on March 3, 2017, the Company remained obligated to complete cash payments to the principals of Romanex, as well as retire existing payables of Romanex, and maintain the Project in good standing.

Since consummation of the transaction, the Company has worked with the principals of Romanex to extend the deadlines for the completion of cash payments in order to meet the working capital needs of the Company. While discussions were ongoing until recently, the Company has now been advised by the principals of Romanex that they are unwilling to entertain further extensions. The Company views the current pandemic surrounding the novel coronavirus (COVID-19) and the resulting global financial crisis as an event of force majeure, which the Company invoked on March 18, 2020, necessitating an extension of the Company's obligations surrounding the payment of consideration to acquire Romanex. The principals of Romanex have advised that they disagree with this assessment, and it is their position that the Purchase Agreement has been terminated. The principals have delivered a notice of termination of the Purchase Agreement, dated March 21, 2020, to this effect.

While the Company is continuing to assess options for enforcing its rights in respect of Romanex and the Purchase Agreement, and recouping investments made to date in advancing the Project, at this time the Company is unable to control the affairs of Romanex and the conduct of activities at the Project.

The Company will provide a further update regarding the status of the Purchase Agreement, and its relationship with Romanex, once it has had an opportunity to assess available options and as the situation develops.

Inquiries regarding the Company may be directed to Peter Berdusco, Chief Executive Officer, at pber@guyanagoldstrike.com or 1.877.844.4661.

On behalf of the Board of Directors of

GUYANA GOLDSTRIKE INC.

Peter Berdusco

President and Chief Executive Officer

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

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the Company's ongoing relationship with Romanex, the status of the Purchase Agreement, rights the Company may have in respect of the Project, and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.


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To: LoneClone who wrote (140867)3/30/2020 3:15:13 PM
From: LoneClone
   of 143022
 
Redstar Gold Files Maiden Resource Report on the SH-1 Gold Zone at the Unga Project, Alaska

thenewswire.com

HIGHLIGHTS:

- Maiden NI 43-101 resource report filed with regulator for 395,825 Oz Gold Eq1 grading 14.2 g/t Gold Eq on the SH-1 Zone.

- The Technical Report demonstrates an inferred resource contained in 866,015 tonnes using a 3.5g/t Au cut-off consisting of: 384,318oz of Gold at an average grade of 13.8g/t, and; 986,321oz Silver at an average grade of 35.4g/t.

- The mineralization outrops at surface for 450m along strike and has been drilled to 310m down dip at the eastern end the 9.5km long Shumagin Trend.

- The SH-1 Zone's mineralization remains open along strike and at depth.

- Further targets on both the Shumagin Trend and parallel Apollo-Sitka Trend to be drill tested.

Vancouver, Canada - TheNewswire - March, 26th 2019 - Redstar Gold Corp. (TSXV:RGC) US (OTC:RGCTF) (FRA:RGG) ("Redstar" or the "Company") announces the filing of a National Instrument 43-101 (NI 43-101) report with the appropriate regulatory authorities on March, 24th 2020, which can be found on SEDAR and on the Redstar website ( www.redstargold.com), in compliance with IROC/TSX.V exchange listing rules for the Mineral Resource Estimate announced by Redstar on February, 10th 2020. The report, completed by William Burnett CPG -1123 of Yukuskokon Professional Services LLC, details a Maiden Resource of 395,825 of gold equivalent ounces within a portion of the SH-1 Zone (formerly known as the Shumagin Zone) as presented in Table 1 below. The SH-1 Zone is a sub-section of the overall 9.5km long Shumagin Trend which is characterized by multiple, high-grade gold zones and occurs in the south of Unga Island. This resource derives from the centre of the SH-1 Zone which has been traced by diamond drilling for a total of 1.7 km of strike. SH-1 is a high-grade gold zone and displays all the features of an intermediate sulfidation system including bonanza gold grades and crustiform vein textures. It is one of several known, high-grade gold occurrences on the Trend, and one of numerous gold and base metal occurrences on Unga Island. The resource cut-off grade is based on a gold price of US$1,450/ounce and preliminary metallurgical testing that yielded recovery rates of 87.8% for gold. The deposit is open at depth and in both directions along strike (Figure 1).

SH-1 Zone Maiden Mineral Resource Estimate Summary

Originally released February 10, 2020 (Table 1)

Gold Price USD

Cut-off Au (g/t)

Preliminary Inferred Resource 1, SH-1 Zone within Shumagin Trend

Tonnes

Au (g/t)

Au (oz)

Ag (g/t)

Ag (oz)

AuEq1

AuEq (g/t)1

$ 2,600

2.0

1,534,645

9.0

442,673

25.6

1,264,364

457,424

9.3

$ 2,075

2.5

1,355,789

9.9

429,721

26.3

1,147,353

443,107

10.2

$ 1,675

3.0

993,817

12.4

397,613

32.5

1,039,231

409,737

12.8

$ 1,450

3.5

866,015

13.8

384,318

35.4

986,321

395,825

14.2

$ 1,290

4.0

797,237

14.7

375,940

36.9

946,724

386,985

15.1

$ 1,150

4.5

761,720

15.2

371,039

38.2

936,160

381,961

15.6

$ 1,035

5.0

724,495

15.7

365,352

39.4

917,812

376,060

16.1



Redstar President John Gray said the following: "This is the first NI 43-101 Mineral Resource Estimate filing for Redstar's Unga Project and summarizes the achievements of both Redstar and earlier exploration work on the SH-1 Zone. This maiden resource is a milestone in achieving our strategic objective of identifying an economically minable resource at the Project. Systematic exploration of the Unga project including extensive geophysics, soil and rock geochemistry, trenching and drilling has identified over 40 gold and/or copper prospects on Unga Island allowing Redstar to prioritize future exploration. Six of the highest priority targets (including Aquila, Orange Mountain, Pray's Vein and Bloomer Ridge) lie either on the Shumagin Trend or within 1,000m of the SH-1 Zone. Redstar plans to test for additional resources along strike and down dip of SH-1 as well as testing these other highly prospective zones with the objective of developing the Unga Project into a long-life, low cost gold and base metals producer".

The High-Grade SH-1 Zone with On-Strike and Nearby Targets

(Fig.1)


Click Image To View Full Size

Geological mapping, sampling, drilling and geophysics indicate expansion potential of the resource for an additional 400m to the northeast and for an additional 3km southwest along the Shumagin Trend towards Orange Mountain which has been interpreted as the hydrothermal centre of the Trend. The northeast expansion potential is demonstrated by strong ground IP/Resistivity and magnetic trends that show continuation of the SH-1 Zone, and drill results that leave the system open for further drill definition (16SH022, 1.5m @ 16.97g/t Au + 13.06g/t Ag; 16SH023, 0.3m @ 34.5g/t Au + 16.45g/t Ag). The southwest expansion potential is demonstrated by geophysics showing the trace of the Shumagin Trend which extends southwest for 600m, and a drill hole located 300m southwest of the above reported resource that contains visible gold in quartz-adularia-carbonate stockwork veins (DDH 17SH032, 1.0m @ 2.11g/t Au + 27g/t Ag). In addition, Pray's Vein remains a nearby target for resource expansion of the SH-1 Zone where surface sampling has returned up to 11.8g/t Au in silicified tuff (Figure 1).

Qualified Persons

The resource estimation in this news release has been compiled and completed by Christopher Valorose MSc. (Geo) of Valorose Consulting Inc. in Anchorage and overseen, reviewed and verified by William Burnett MSc. who acts as Redstar's General Manager in Alaska. Mr. Burnett has more than 25 years mineral exploration and mining experience and is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About Redstar Gold Corp

Redstar is a well-financed junior exploration and development company with a strongly supportive institutional shareholder base, no debt, and is focused on high-grade gold exploration and advancing its Unga Gold Project in Alaska. The 100% controlled Unga Gold Project is a high grade, intermediate sulfidation, epithermal gold project on a district scale. The property encompasses approximately 240km2 and contains multiple high-grade gold zones drilled or identified at surface including the former Apollo-Sitka gold mine, located on the southerly Apollo-Sitka Trend which was Alaska's first underground gold mine and the site of historic high-grade (~10 g/t Au) gold production (Figure 2).

The Unga Gold Project enjoys a moderate climate at latitude 55 degrees North next to year-round tidewater with extensive infrastructure including a deep-water port with weekly vessels from Seattle and is served by daily flights from Anchorage landing on a mile long, paved airstrip on Popof Island. In addition to the Unga Project, Redstar owns shares in NV Gold Corp. (TSXV: NVX) and 30% of the Newman Todd Gold Project, in Red Lake, Ontario, Canada.

Gold and Base Metal Prospects on Unga Island and Neighbouring Popof Island

(Fig.2)


Click Image To View Full Size

For additional information please contact:

John A. Gray

President
Tel: +44 747 068 6474
Email: j.gray@redstargold.com

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

Forward-Looking Information This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Redstar Gold Corporation (the "Company") expects to occur, are 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. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, 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.

1 A Silver/Gold conversion factor of 0.011864 has been used to convert ounces of silver to gold equivalent ounces.

2 Mineral Reserve estimates follow the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") definitions standards for mineral resources and reserves and have been completed in accordance with the Standards of Disclosure for Mineral Projects as defined by National Instrument 43-101. Reported tonnage and grade figures have been rounded from raw estimates to reflect the relative accuracy of the estimate. Minor variations may occur during the addition of rounded numbers. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Resources were constrained by a Vulcan, wire frame underground model and based on a cut-off of 3.5g/t Au.


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To: LoneClone who wrote (140868)3/30/2020 3:20:13 PM
From: LoneClone
   of 143022
 
New Age Metals Commences Drilling at River Valley PGM Project Near Sudbury

thenewswire.com

  • - The River Valley Project is one of North America's largest undeveloped primary Platinum Group Metal (PGM) projects. The Project has excellent infrastructure and is within 100 kilometres of the Sudbury Metallurgical Complex. The Project is 100% owned by New Age Metals

    - The Company has contracted Jacobs & Samuel Drilling Ltd of Val Caron, Ontario to conduct a phase one 1,600 metre drill program at the River Valley Project and drilling has begun

    - The Company completed a $2M financing on February 3, 2020. The primary use of proceeds will be to follow-up on recommendations from the 2019 Preliminary Economic Assessment (PEA)

    - Eric Sprott became a strategic shareholder and has an 18.56% ownership of the Company's current issued and outstanding shares on a post-conversion beneficial ownership basis

    - In January, the Company announced that it engaged IBK Capital Corp to assist the Company in evaluating strategic alternatives to maximize shareholder value

    - The Company is actively seeking an option/joint venture partner for its Genesis PGM Project in Alaska and for our Lithium division in Manitoba

  • March 26th, 2020 - TheNewswire - Rockport, Canada - New Age Metals Inc. (TSXV:NAM); (OTC:NMTLF); (FSE:P7J) Harry Barr, Chairman & CEO, stated; "New Age Metals is pleased to announce that the company is about to commence the next phase of drilling at the River Valley PGM deposit near Sudbury, Ontario. The company plans to drill about 1,600m of core in five holes to test high-priority targets within and adjacent to the Pine Zone and Dana North Zone of the River Valley deposit. This drill program is the first phase of our 2020 exploration and development program, and will run through April. The Company continues to monitor the COVID-19 pandemic and is evaluating the potential risks to our staff and contractors. In light of the fluid nature of events the Company would like to note that there is no certainty that the current exploration activities will be completed without interruption."

    The purpose of the drill program is to test three Pine Zone target types: 1) induced polarization (IP) chargeability highs from the 2017 geophysical survey for extensions of the Pine Zone or new discoveries in the footwall to Dana North; 2) potential extensions of higher-grade trends external to the current mineral resources in the Pine Zone; and 3) whether and how the Pine Zone may be connected to the Dana North Zone at depth. The connection of the two zones is currently modelled, based on the available drilling, as a major SSE-plunging fold. The drilling will test for evidence of such folding, including the potential presence of thickened and higher-grade PGM sulphide mineralization within the fold nose. See Figure 1 below for the planned drill hole locations in the upcoming phase one program.


    Click Image To View Full Size

    Figure 1: Location of planned drill holes (labelled) and previous drill holes plotted on an inverted IP chargeability plan (coloured) and a 3-D wireframe model of the Dana North and Pine Zones, River Valley PGM Project near Sudbury, Ontario

    Since the two discovery holes in 2015, 19 more holes have been drilled into the Pine Zone. All the holes except one intersected the zone. Examples of some of the better intersections are: 4.03 g/t Pd+Pt+Au over 9m from 145m in hole 2015-DN002 and 3.22 g/t Pd+Pt+Au over 4m from 202 m in hole 2016-DN-T2-10. More details can be found in the various press releases on the New Age Metals website. The Pine Zone remains open along strike and at depth with an interpreted SSE dip/plunge direction.

    AGORACOM

    Further to news release of March 17, 2020, the Company has issued 271,200 common shares at a deemed price of $0.05 per share to Agora Internet Relations Corp. ("Agoracom"). The securities issued represent the first payment for services under the terms of the agreement and are subject to a four month plus one day hold period expiring July 26, 2020.

    About NAM

    New Age Metals is a junior mineral exploration and development company focused on the discovery, exploration and development of green metal projects in North America. The Company has two divisions; a Platinum Group Metals division and a Lithium/Rare Element division. The PGM division includes the 100% owned River Valley Project, one of North America's largest undeveloped Platinum Group Metals Projects, situated 100 kilometres from Sudbury, Ontario as well as the Genesis PGM Project in Alaska. The Lithium division is the largest mineral claim holder in the Winnipeg River Pegmatite Field where the Company is exploring for hard rock lithium and various rare elements such as tantalum and rubidium. Our philosophy is to be a project generator with the objective of optioning our projects with major and junior mining companies through to production. New Age Metals is a junior resource company on the TSX Venture Exchange, trading symbol NAM, OTCQB: NMTLF; FSE: P7J with 136,876,766 shares issued to date.

    Investors are invited to visit the New Age Metals website at www.newagemetals.com where they can review the company and its corporate activities. Any questions or comments can be directed to info@newagemetals.com or Harry Barr at Hbarr@newagemetals.com or Cody Hunt at Codyh@newagemetals.com or call 613 659 2773.

    Opt-in List

    If you have not done so already, we encourage you to sign up on our website ( www.newagemetals.com) to receive our updated news.

    Qualified Person

    The contents contained herein that relate to Exploration Results or Mineral Resources is based on information compiled, reviewed or prepared by Bill Stone, P.Geo., a consulting geoscientist for New Age Metals. Dr. Stone is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content of this news release.

    On behalf of the Board of Directors

    "Harry Barr"

    Harry G. Barr

    Chairman and CEO

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

    Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as "continue", "efforts", "expect", "believe", "anticipate", "confident", "intend", "strategy", "plan", "will", "estimate", "project", "goal", "target", "prospects", "optimistic" or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company's ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.


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    To: LoneClone who wrote (140869)3/30/2020 3:23:19 PM
    From: LoneClone
       of 143022
     
    Northern Lights Completes Registration of Secret Pass Gold Project Mineral Claims

    thenewswire.com

    March 26, 2020 - TheNewswire - Vancouver, British Columbia - Northern Lights Resources Corp. (the "Company" or "Northern Lights") (CNSX:NLR.CN) is pleased to announce that the Company has completed the change of registration for the mineral claims acquired under the Secret Pass Gold Project ("Secret Pass") acquisition announced on July 15, 2019.

    Northern Lights was notified by the State of Arizona Department of Land that as of February 12, 2020, the 84 mineral claims (comprising 868 hectares) associated with Secret Pass are 100% owned and registered in the name of Northern Lights' wholly owned, Arizona registered, subsidiary company Secret Gold Pass LLC.

    This step completes the acquisition of the Secret Pass Gold Project and enables Northern Lights to begin exploration field work at the project. The Company plans to commence the exploration field program with the drone based photogrammetry and aero magnetic surveys. The operator of the drone survey systems has confirmed their ability to complete the work utilizing US based teams as soon as the current COVID-19 situation allows.

    For further information, please contact:

    Albert Timcke, Executive Chairman and President

    Email: rtimcke@northernlightsresources.com

    Tel: +1 604 608 6163

    Or

    Jason Bahnsen, Chief Executive Officer

    Email: Jason@northernlightsresources.com

    Tel: +1 604 608 6163

    About Northern Lights Resources Corp.

    Northern Lights Resources Corp is a growth oriented exploration and development company that is advancing two key projects: The 100% owned / zero royalty, Secret Pass Gold Project located in Mohave County, Arizona; and the Medicine Springs silver-zinc-lead property located in Elko County, Nevada where Northern Lights is earning 100%.

    Northern Lights Resources trades under the ticker of "NLR" on the CSE. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.

    CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed private placement; use of funds; the business and operations of the Company after the proposed closing of the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the mineral exploration industry. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.


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    To: LoneClone who wrote (140870)3/30/2020 6:04:16 PM
    From: LoneClone
       of 143022
     
    Happy Creek provides update of activities

    thenewswire.com

    Vancouver, British Columbia - TheNewswire - March 26, 2020 - Happy Creek Minerals Ltd. (TSXV:HPY) (the "Company"), is providing an update on its activities over the past few months.

    Since announcing results of its 2019 work on both the Fox tungsten and Rateria-West Valley copper projects, the Company has four Confidentiality agreements in place for the purpose of exploring potential transactions and has received further interest in its projects during the PDAC convention earlier this month. The Company currently has $1.1 million in cash on hand and no debt.

    It is anticipated we will receive a five-year exploration permit next month for the Rateria-West Valley property, which includes geophysics, trenching and drilling. Permits to conduct similar work at the Fox tungsten project are in place for 2020, while a five-year permit that expands the scope of work to a more advanced-stage development project is in progress. It is anticipated that logging road construction will be completed that provides access to un-explored areas of the Fox property including an area containing up to 3,120 ppm tungsten in a stream sediment. In addition, the new road will be within approximately four km of the BN and Ridley Creek deposits. Utilizing the successful 2019 drilling at the Fox Nightcrawler zone, geological modelling is nearly complete that is expected to provide a substantial target with potential to significantly increase the project resources. Reports of work completed in 2019 on the Rateria-West Valley property have been prepared and submitted to the BC government in support of its mineral tenure and the Fox tungsten report is in progress.

    David Blann, president, CEO of Happy Creek Minerals states "The world is re-positioning due to various global and geopolitical factors. Our projects are 100% owned, in proximity to mines and infrastructure in South Central B.C. and we have enough cash on hand to advance them further. These aspects along with having among the highest-grade tungsten resource in the western world and a solid copper exploration asset adjoining Canada's largest porphyry copper operation, are thought to provide shareholders optimum quality and value in a low market-capitalization company. We are respecting government recommendations to isolate and can function well working from home. In line with these policies, we are planning to safely conduct field work and look forward to announcing more details for the season commencing in late April or early May."

    About the Rateria and West Valley property

    The Rateria and West Valley mineral properties total approximately 244 square kilometres that adjoin and surround the southern side of the Highland Valley Copper mine property, Canada's largest base metal mine. The property is predominantly underlain by the Guichon batholith which hosts four porphyry copper deposits with commercial production continuing for over 50 years.

    Happy Creek has partially outlined by drilling two copper zones for one km in length with drill grades consistent with currently mined deposits in the district, and the zones are open. These are thought to have near-term resource potential and are located approximately 6.5 km southeast of the Highmont open pits. Zones 1 and 2 have returned drill results including 95.0 metres of 0.67% copper and 152.5 metres of 0.35% copper/ 0.12 g/t gold, respectively.

    In addition, the Company has recently identified several other areas of the property with potential for new copper discoveries that remain untested by drilling. The Company considers the Rateria-West Valley property to be a quality copper exploration asset within a world class, highly productive copper district.

    About the Fox tungsten property

    The Fox tungsten property is located 75 km northeast of 100 Mile House in south Central B.C. The Company has advanced the Fox project from an early stage and on February 27, 2018, announced a resource of 582,400 tonnes of 0.826% WO3 (indicated) and 565,400 tonnes of 1.231% WO3 (Inferred). This is among the highest grade in the western world, and a portion is within an open pit shell. The Fox has a mineral system with dimensions of 12 km by 5 km and numerous surface showings and drill holes have intervals above cut-off grade that remain open to expand resources. The Fox is thought to represent a rare, high-grade strategic and critical metal discovery in a good location.

    More information on the Rateria and West Valley copper, and Fox tungsten properties can be found at www.happycreekminerals.com .

    On behalf of the Board of Directors,

    "David E Blann"

    ___________________________

    David E Blann, P.Eng.

    President, CEO

    FOR FURTHER INFORMATION, PLEASE CONTACT:
    David Blann, President, CEO,

    Office: Phone: 604.662.8310
    Email: dblann@happycreekminerals.com

    Website: www.happycreekminerals.com

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

    David Blann, P.Eng., Director, is a Qualified Person as defined by National Instrument 43-101 and is responsible for the preparation and approval of the technical information disclosed in the news release. Results or information from an adjoining property does not infer that similar results or information will or does occur on the subject property.

    This press release contains "forward-looking information" within the meaning of applicable securities laws, including statements that address capital costs, recovery, grade, and timing of work or plans at the Company's mineral projects. Forward-looking information may be, but not always, identified by the use of words such as "seek", "anticipate", "foresee", "plan", "planned", "continue", "expect", "thought to", "project", "predict", "potential", "targeting", "intends", "believe", "opportunity", "further" and others, or which describes a goal or action, event or result such as "may", "should", "could", "would", "might" or "will" be undertaken, occur or achieved. Statements also include those that address future mineral production, reserve potential, potential size or scale of a mineralized zone, potential expansion of mineralization, potential type(s) of mining, potential grades as well as to Happy creek's ability to fund ongoing expenditure, or assumptions about future metal or mineral prices, currency exchange rates, metallurgical recoveries and grades, favourable operating conditions, access, political stability, obtaining or renewal of existing or required mineral titles, licenses and permits, labour stability, market conditions, availability of equipment, accuracy of any mineral resources, anticipated costs and expenditures. Assumptions may be based on factors and events that are not within the control of Happy creek and there is no assurance they will prove to be correct. Such forward-looking information involves known and unknown risks, which may cause the actual results to materially differ, and/or any future results expressed or implied by such forward-looking information. Additional information on risks and uncertainties can be found within Financial Statements, Prospectus and other materials found on the Company's SEDAR profile at www.sedar.com. Although Happy creek has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Happy creek withholds any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by law.


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    To: LoneClone who wrote (140871)3/30/2020 6:06:29 PM
    From: LoneClone
       of 143022
     
    Fidelity Minerals Provides Update on Cerro Dorado and Las Brujas Field Program


    thenewswire.com

    Vancouver, BC - TheNewswire - March 27th, 2020 - Fidelity Minerals Corp. (TSXV:FMN) | (FSE:S5GM) | (SSE:MNYC) ("Fidelity" or the "Company") is pleased to announce the completion of a short field program at its Las Brujas project, and arrangements made to secure the continuation of the Cerro Dorado ("CD") sale process during the COVID-19 societal shutdown in Peru.

    A short field program was undertaken to assess local site and access conditions as well as prospective alteration profiles exposed by recent road access development at the Las Brujas project, located in the prolific greater Yanacocha District. The field program was guided by results of a Remote Spectral Geology (RSG) project performed by Rodrigo Diaz of Global RSG. The Project applied Remote Sensing for the definition of lithology, alteration, mineralization, and structure, which together with an integrated interpretation of available geoscientific data has led to the generation of project scale target zones of interest. The identified zones correlate with historically mapped alteration and geochemical anomalies and newly identified exploration targets.

    In order to secure the additional targets beyond the project area, the Company has applied for two (2) new concessions covering 1,500 ha. The program demobilised prior to the country wide lockdown declared in Peru on March 15.

    Certain project improvements at Cerro Dorado have continued since the last CD related NR (Jan 24, 2020). The Company has agreed to allow the purchaser to defer the scheduled March payment owing to the Peruvian lockdown, and the purchaser having demonstrated to Fidelity that payment approval for certain gold production has been halted by the Peruvian tax authority (SUNAT). The timing on the payment to the Company is expected to immediately follow the lockdown being lifted and SUNAT processing the export approval application.

    About Fidelity Minerals Corp.

    Fidelity Minerals Corp. is assembling a portfolio of high-quality mining assets in Peru through the implementation of our Strategic Project Generator (SPG) model. The project generator model involves the identification and acquisition of appraisal stage opportunities with near-term valuation catalysts, including potential for high-impact M&A. The company is backed by an experienced management team with diverse technical, market, and commercial expertise and is supported by committed and sophisticated investors focused on building long term value.

    On behalf of the Board of Fidelity Minerals;

    Ian Graham
    CEO and Director
    Tel: +1.604.671.1353
    Email: igraham@fidelityminerals.com

    Investor Contact:

    Bahay Ozcakmak
    Executive Chairman
    Tel: +61.3.9236.2800
    Email: bahay@fidelityminerals.com

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

    Disclaimer & Forward-Looking Statements: This news release contains forward-looking statements. Forward-looking statements are statements that relate to future events or future financial performance. In some cases, you can identify forward-looking statements by the use of terminology such as "may", "should", "intend", "expect", "plan", "anticipate", "believe", "estimate", "project", "predict", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements speak only as of the date of this news release. This news release may also contain inferences to future oriented financial information ("FOFI") within the meaning of applicable securities laws. The information in this news release has been prepared by our management to provide a context for the acquired projects and the registration of title and to provide the reader with an outlook for our future activities and anticipated focus projects and may not be appropriate for other purposes. Forward-looking statements in this announcement include, (but are not limited to), anticipated cash payments to be received from the Cerro Dorado purchaser following the lockdown being lifted and SUNAT processing the export approval application, and the expectation that through the Strategic Project Generator model Fidelity Minerals is positioning itself to be a beneficiary in this environment of increased appetite for prospective projects in the Peru region. The implication that the Company's initiatives will individually or collectively be successful comprise forward looking statements.


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    To: LoneClone who wrote (140872)3/30/2020 6:08:53 PM
    From: LoneClone
       of 143022
     
    Cilve Maund Gold Market Update

    clivemaund.com

    By: Clive Maund | March 29, 2020


    The world suddenly finds itself tipped into the gravest crisis since the 2nd World War, and with respect to the global economy it is actually far worse, because the financial system was teetering on the verge of collapse even before the coronavirus epidemic surfaced as a result of the exponential growth of debt and derivatives – so the virus epidemic and the reaction to it has simply acted as a catalyst to bring the whole house of cards down.

    The current situation where countless millions of people are sat at home twiddling their thumbs and scared to go out is untenable. The economy is coming to a dead stop and if it continues the result will be anarchy – mass unemployment, privation and even starvation and eventual widespread civil unrest. The government can send out all the welfare checks it likes, but if nobody is producing anything, where is all the food and stuff people consume going to come from? So, regardless of whether a cure to the virus is found in the foreseeable future or not, and regardless of the risks to individuals, the majority of people are going to have to be allowed to return to work and normal social discourse restored, and who dies, dies. Since the vast majority of people who die from this illness are old and / or have their immune systems compromised, they are going to have to be sacrificed, and there is no choice about this – even if they stay at home, the people they see, family and carers etc. will carry the illness to them. It is an open question whether the coronavirus is a bioweapon created in some germ warfare laboratory and then strategically deployed, or whether it arose spontaneously on its own.

    If you were to set up a printing press in your backyard and churn out dollars, you would be able to live a life of luxury, doing nothing and living off the labor of others. In a fiat money system that is exactly what the Federal Reserve Bank of America, and other Central Banks around the world, are doing on a vastly grander scale. However, if you try it yourself, you will be summarily branded a “counterfeiter” and be marched off to serve a lengthy jail term. They do it and get away with it “scot free”. Furthermore, the more they do this the more they like it, because it involves no effort on their part, beyond reaching out to their keyboards and adding a few more zeros to the end of a number. Unless the money they create in this manner is gifted, as in the case of the paltry checks being sent out to American workers furloughed by this crisis, in a cynically calculated effort to stop them reaching for their pitchforks and taking to the streets, the recipients of the money, or counterparties, are then obligated to pay it back or at least service the debt, and become vassals or slaves of the Central Banks. When you understand this you comprehend that these Central Banks are the biggest parasites the world has ever known - none more so that the Fed.

    So what was the game over the past couple of weeks, and especially last week, with the Fed intervening directly in the stockmarkets to generate a reversal and get them moving back up? To understand this you have grasp that the Fed has a cozy relationship with the Wall St elites and the elites in various huge powerful corporations, who are their crony pals. So, just as in 2008, the name of the game is to privatize the gains, and socialize the losses. When the market keeps rising, year after year, CEO’s are able to buy back their own stock, driving the stock price higher, collectively driving the whole market higher. This enables them to justify big fat bonuses for themselves. When this is eventually pushed to its ultimate extreme and the whole thing breaks apart and comes crashing down, they then, in ritual fashion, go cap in hand to the Fed “Oh, it wasn’t the fault of our years of corruption and mismanagement, it was the fault of that nasty coronavirus – if you don’t bail us out thousands of workers will be out of a job” The Fed of course is only too happy to step in and help its pals in their hour of need – after all it involves no effort on their part, and the cost – someone has to pay – will be borne by society as a whole in form of a weakening currency and accelerating inflation. This is why they spirited trillions into existence just over the past couple of weeks to throw at the markets and why the dollar suddenly took a nosedive.

    The central problem here with regards to the Fed and other Central Banks “saving the world” with their largesse is that waving your arm gracefully over a keyboard to spirit a few trillion more dollars into existence does not actually produce anything and it will not stop the real world economy from dying. Corporate earnings are cratering right now, and “bottom line” earnings of many companies are set to drop off the bottom of the page. The Fed can attempt to “goose” stock prices by creating trillions to throw at the market all it likes, but it won’t alter the fact that production is collapsing, so this stance will rapidly become untenable as the flood of increasingly worthless dollars crashes the currency. Holders of stock will increasingly “call the Fed’s bluff” by selling onto rallies, so that eventually the Fed becomes the dominant holder of stocks – this of course may be its ultimate objective – to become the owner of the world, and in the meantime, until people are allowed to return to work, the State is being granted a golden opportunity to dry run its Martial Law techniques – they militarized the police some years back in the US in preparation for just such a situation.

    Now, after this slightly longer than usual introduction, and doubtless to the relief of some of you, we will turn our attention to the charts, and today it is appropriate, in light of what we have been discussing above, to start with the chart for the S&P500 index.

    As you probably saw the MSM (mainstream media) had its trumpets blaring last week “Biggest 3-day rally since 1933 – the coast is clear, roll up and buy (you suckers)”. We saw this rally coming, as you may remember, and it doesn’t change anything. All the market did was stage a classic snapback relief rally from a record by far oversold condition, so it was easy for the Fed to get it moving up by throwing a trillion or two at it. With corporate earnings set to crater it should soon start dropping again in earnest.



    With margin call pressure easing due to the rally and the Fed’s money factory taking it to the next level to fund its rabid buying spree, the dollar responded by caving in last week and giving back a large slice of its earlier spike gains…



    If the Fed continues to churn out trillions of new dollars, then we can expect the dollar index to tank, unless that is, they can get the subservient vassal Central Banks (who they are flooding with dollars) such as the ECB and the BOJ to do likewise, and that seems likely given that they are faced with a similar crisis. The key point for Precious Metal investors to take away from this is that, no matter how the dollar performs relative to other currencies, money supply in all countries will be ballooning at a fantastic unprecedented rate as they struggle to meet obligations and maintain liquidity, which means that, measured against real money, which is gold, they will be cratering. On its 11-year chart we can see that the dollar index has been in an erratic holding pattern for 5 years now, and the next stockmarket hit should see it again try to break out of the top of this pattern, unless it is swiftly countered by another tsunami of Fed largesse. The dollar is often strong during market crash phases, which is one reason Precious Metals often drop hard during this phase before recovering quickly when the crash phase is over.



    There are a number of reasons to believe that gold and silver will get taken down again once the market starts to plunge again, despite the increasingly acute shortage of physical. PM stocks are underperforming gold right now, which is viewed as a warning, and the silver chart continues to look awful following its recent severe breakdown. That said, there is light at the end of the tunnel, as we can see with the silver to gold ratio shown below being at levels that strongly suggest that a humongous sector bull market is brewing, and not far out, which is hardly surprising given the chronic shortage of physical metal, and silver’s COT (shown in the parallel Silver market update) is rapidly improving. Thus, what is expected is another drop in sympathy with a crashing stockmarket, and then, immediately the crash phase is over, or even before, a scorching rally, as happened from the 2008 – 2009 crash low, only this time much stronger.



    A subscriber wrote me early last week essentially saying “Maund, what the hell do you mean? – you say that the PM sector is going to rally, then drop more, then rally again – I’m confused, what are you talking about? So, in an effort to clarify this prediction I present the following prediction chart for GDX…



    The minor rally that was expected has occurred and we traded this successfully, buying silver ETFs and Calls, and taking profits several days later, selling highly leveraged USLV for a 55% gain in four days. We would have made a similar amount in NUGT had the management of this ETF not moved the goalposts, so we escaped with only about an 8% gain before it started to drop back, resolving never to touch this one again. This is why we generally much prefer options to leveraged ETFs. With options you can’t be swindled out of your gains to anywhere near the same extent – they don’t need to swindle you because they make enough out of eroding time values and spreads. GDX started rolling over again beneath resistance after we cleared out and now looks set up to drop hard as shown, in sympathy with another severe decline in the stockmarket, but after that it should take off like a rocket as the physical shortage of metal really starts to bite.

    Here is the normal 7-month chart for GDX which looks bearish. We had a breach of very important support earlier this month that was followed by a savage drop. Then it bounced back in tune with a rising stockmarket and falling dollar last week, but the rally was capped by the earlier support that has become heavy resistance and it is now rolling over ominously again, and as mentioned above is expected to drop hard with the stockmarket. This is made more likely by the bearish cross of the moving averages now occurring. Needless to say, this does not bode well for gold and silver near-term.



    On gold’s latest 6-month chart we can see why it looks like it will drop back again over the near-term, as it has stalled out at a clear resistance level at earlier highs. Moving averages are still in bullish alignment so at this point it looks likely that it will drop back again to the quite strong support in $1450 area that arrested the sharp drop in the middle of the month, but probably not further. However, on this drop, because of the falling stockmarket, PM stocks are expected to be harder hit, and to drop back below their mid-March lows.



    On gold’s 11-year chart we can see that its rally of the past 10 days or so has given it sufficient “wiggle room” to drop back quite hard near-term without violating the supporting Saucer boundary which is later expected to slingshot it to new highs.



    Unlike silver’s COT, gold’s latest COT chart has not improved enough to avert another sharp drop over the near-term, which would actually be a good thing if it cleared out some of these stubborn Large Specs…



    Now to look at the latest 1-year chart for the Gold Miners Bullish % Index, which shows that in as short a time as about 2 weeks, PM sector investors have gone from being almost universally bearish, to very bullish, in classic manic-depressive fashion. Since they are, collectively speaking, never happier than when they are part of a crowd, and always wrong, it’s not hard to see why we dumped our long ETFs on Thursday and why we are now negative on the sector for the near-term.



    The crowd – you gotta love ‘em – what would we do without them?


    Finally, the most important thing for Precious Metals sector investors, or would be Precious Metals sector investors, to keep in mind is that if we do see a short sharp selloff across the sector soon as looks likely, it is expected to be the last and to be followed by a dramatic and possibly breathtaking reversal to the upside, as per the scenario shown on the 2-month GDX chart shown above, and this accords with Larry’s amazing gold chart shown below. On the chart it looks like a drop now will violate the chart, but as Larry himself clarified recently “Note: I am beginning to suspect that there may be one more outside rounding line to add later. The reason I suspect this is the inner line only touches in the center. I may be way off on this – but the suspicions are there.”


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    To: LoneClone who wrote (140873)3/30/2020 6:13:03 PM
    From: LoneClone
       of 143022
     
    Clive Maund Silver Market Update

    clivemaund.com

    By: Clive Maund | March 29, 2020

    Whichever way you cut it, silver’s chart looks bearish for the short to medium-term, but against this we must set its rapidly improving COT structure and the mega-bullish silver to gold ratio (by all past standards).
    Silver’s 7-month chart is a rather grim picture. On it we see that key support failed this month, leading to a dramatic plunge to new lows, and this support has now become resistance. In addition we see that moving averages have swung into bearish alignment, with a bearish “death cross” having occurred about a week ago. The relief rally of the past week or so in sympathy with the relief rally in the broad stockmarket fuelled by Fed intervention, that we predicted and played via leveraged silver ETFs and Calls, is therefore thought to be petering out and set to be followed by another probably steep selloff, congruent with another decline in the broad stockmarket, and a potentially heavy decline in the Precious Metals sector.



    This month’s dramatic failure of key support at the lows was a hammer blow to investors in the sector and it’s easy to see why on the latest 11-year chart for silver. This support failure crashed multi-year lows dating back to early 2016, and aborted the potential giant Double Bottom pattern – it is precisely the sort of development that would lead silver bugs to give up in disgust and disgorge their holdings in despair to Smart Money waiting patiently to scoop them up at rock bottom prices.



    For as we can see on the latest silver COT chart, the faithful are giving up in droves and heading for the hills – with the Large Specs’ holdings ebbing away steadily. With the shorter-term charts for silver pointing to further losses dead ahead, we can expect to see considerable further improvement in this COT structure which will finally set the stage for the expected humongous silver bullmarket.



    Why humongous? – here’s why: the silver to gold ratio has dropped to a record low by a wide margin this month, and is way below lows that in the past have been the precursor to major sector bullmarkets. This is why, after the stockmarket crash phase is done, and maybe even a little before, silver is expected to reverse to the upside in a spectacular manner and take off like a rocket, and there is a precedent for this behavior, for this is what happened near to the bottom of the 2008 market crash. The difference this time is that the situation is much more extreme and the upside potential much greater than it was back then. So we will be keeping a very close eye on silver going forward.



    The conclusion is that silver looks set to drop hard over a short to medium-term time horizon with the broad stockmarket but in the larger scheme of things it is setting up for a massive and probably spectacular bullmarket that is likely to commence with a screaming rally when the time is right that will probably blow straight through the failed support, now resistance, shown on our 7-month chart . This should not come as a surprise when you consider what is set to be done – and is already being done - to fiat currencies going forward.

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    To: LoneClone who wrote (140874)3/30/2020 6:15:15 PM
    From: LoneClone
       of 143022
     
    Peruvian Metals Provides Operational Update and Response to the COVID-19 Pandemic

    newsfilecorp.com

    Edmonton, Alberta--(Newsfile Corp. - March 27, 2020) - Peruvian Metals Corp. (TSXV: PER) ("Peruvian Metals" or the "Company") is pleased to provide an update regarding the mineral processing at its 80% owned fully permitted Aguila Norte Processing Plant ("Aguila Norte" or the "Plant") located in Northern Peru.

    On March 16, 2020, the Peruvian government restricted all non-essential transportation and travel within the country in addition to declaring a 15-day quarantine whereby all citizens are to stay and work from home if possible. Yesterday, March 26th, the Peruvian President Martin Vizcarra extended the country wide quarantine to April 12th. The restriction included a halt to all transportation including domestic and international flights. Essential businesses and services are exempt from this restriction which includes medical facilities, pharmacies, food markets, gas stations and banks.

    In full compliance with the Peruvian government's quarantine order, the Company suspended processing at Aguila Norte until further notice. Once the Peruvian government lifts the restrictions the Company will be able to resume processing mineral. Prior to the restriction, Aguila Norte processed 2,112 tonnes of third-party material in the quarter and was on pace to exceed mineral processing throughput from 2019's comparative quarter. In addition, approximately 1,000 tonnes of third-party mineral is stockpiled at site waiting to be processed and shipments to site will recommence once governmental restrictions have been lifted.

    Jeffrey Reeder, Chief Executive Officer of Peruvian Metals, commented: "The health and safety of our Peruvian employees remain a priority during this COVID-19 pandemic. The Peruvian government's strict pro-active measures to contain the COVID-19 are showing positive results. There are very few cases in Northern Peru where our operations are located, and new daily cases are continuing to drop. We are monitoring the situation closely and will restart the processing when the Peruvian authorities lift the restrictions."

    The Aguila Norte Processing Plant located in Northern Peru has an environmental permit ("IGAC") granted from the Peruvian government which provides the Plant with the ability to expand operations past the current 100 tonnes per day level. Jeffrey Reeder, P. Geo, a qualified person as defined in National Instrument 43-101, has prepared, supervised the preparation or approved the scientific and technical disclosure contained in this news release.

    About Peruvian Metals Corp.

    Peruvian Metals Corp. is a Canadian exploration and mineral processing company. Our business model is to provide toll milling services for clients and to produce high grade concentrates from mineral purchases. The Company continues to acquire and develop precious and base metal properties in Peru.

    For further information on Peruvian Metals Corp. please visit www.peruvianmetals.com.

    Peruvian Metals Corp. is a Canadian resource company listed on the TSX Venture Exchange: Symbol "PER"
    For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290
    Website: www.peruvianmetals.com Email:
    jeffrey.reeder@peruvianmetals.com

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

    Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. We use words such as "might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar terminology to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward looking statements and forward-looking information.

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    To: LoneClone who wrote (140875)3/30/2020 6:17:04 PM
    From: LoneClone
       of 143022
     
    Arizona Metals Corp Announces Temporary Suspension of Kay Mine Drill Program in Precautionary Response to COVID-19 Pandemic

    newsfilecorp.com

    Toronto, Ontario--(Newsfile Corp. - March 27, 2020) - Arizona Metals Corp. (TSXV: AMC) (the "Company" or "Arizona Metals") announces the temporary suspension the Kay Mine drill program, located near Black Canyon City, Arizona, in order to protect the safety of employees, contractors, and the local community in response to the COVID-19 pandemic. No cases of infection have been reported in any of the Company's employees or contractors working at the Kay Mine site. Arizona Metals' employees and contractors are safely demobilizing and securing the drill site, and will be ready to resume operations as soon as conditions allow.

    Nine holes of the sixteen hole Phase 1 drill program have been completed, and assay results are pending. The Company has a strong cash position of approximately $3M, and will now focus efforts on modelling drill data received to date in order to refine planned targets for the resumption of drilling.

    About Arizona Metals Corp.

    Arizona Metals Corp owns 100% of the Kay Mine Property in Yavapai County, which is located on a combination of patented and BLM claims totaling 1,300 acres that are not subject to any royalties. An historic estimate by Exxon Minerals in 1982 reported a "proven and probable reserve of 6.4 million short tons at a grade of 2.2% copper, 2.8g/t gold, 3.03% zinc, and 55g/t silver". The historic estimate at the Kay Mine was reported by Exxon Minerals in 1982. The historic estimate has not been verified as a current mineral resource. None of the key assumptions, parameters, and methods used to prepare the historic estimate were reported, and no resource categories were used. Significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimate can be verified and upgraded to be compliant with current NI 43-101 standards. A Qualified Person has not done sufficient work to classify it as a current mineral resource, and Arizona Metals is not treating the historic estimate as a current mineral resource.

    The Kay Mine is a steeply dipping VMS deposit that has been defined from a depth of 150m to at least 900m. It is open for expansion on strike and at depth.

    The Company also owns 100% of the Sugarloaf Peak Property, in La Paz County, which is located on 4,400 acres of BLM claims. Sugarloaf is a heap-leach, open-pit target and has a historic estimate of "100 million tons containing 1.5 million ounces gold" at a grade of 0.5g/t (Dausinger, 1983, Westworld Resources).

    The historic estimate at the Sugarloaf Peak Property was reported by Westworld Resources in 1983. The historic estimate has not been verified as a current mineral resource. None of the key assumptions, parameters, and methods used to prepare the historic estimate were reported, and no resource categories were used. Significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimate can be verified and upgraded to be compliant with current NI 43-101 standards. A Qualified Person has not done sufficient work to classify it as a current mineral resource, and Arizona Metals is not treating the historic estimate as a current mineral resource.

    The Qualified Person who reviewed and approved the technical disclosure in this release is David Smith, CPG.

    This press release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation, All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this press release include, without limitation, statements regarding the resumption of drilling and the effects of the COVID-19 pandemic on the business and operations of the Company. In making the forward- looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: availability of financing; delay or failure to receive required permits or regulatory approvals; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward- looking statements or otherwise.

    NEITHER THE TSX VENTURE EXCHANGE (NOR ITS REGULATORY SERVICE PROVIDER) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

    For further information, please contact:

    Marc Pais
    President and CEO
    Arizona Metals Corp.

    mpais@arizonametalscorp.com
    (416) 565-7689

    www.arizonametalscorp.com

    https://www.newsfilecorp.com/redirect/qGDJf3Rm

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