| To: LoneClone who wrote (162672) | 1/11/2022 12:00:49 PM | | From: LoneClone | | | | B2Gold says Mali mine can withstand potential supply disruption from sanctions
ca.finance.yahoo.com
Tue., January 11, 2022, 1:36 a.m.
(Adds details, context, Resolute Mining statement)
JOHANNESBURG, Jan 11 (Reuters) - Canadian miner B2Gold's Fekola mine in Mali continues to operate normally and remains unaffected by sanctions imposed on the country by the Economic Community of West African States, CEO Clive Johnson told Reuters on Tuesday.
B2Gold expects Fekola to meet its 2022 production targets and the mine appears well placed to withstand any supply disruptions that could be caused by ECOWAS border closures, he said in written responses to Reuters' questions.
"However, we are also looking at alternative routings to bring in some critical supplies should that be necessary," Johnson said, adding that alternate routings may be necessary for the movement of personnel.
Air France cancelled flights to Mali's capital Bamako on Monday, citing security risks. Ivory Coast's national carrier also halted flights, and flights from Senegal were disrupted too.
Gold sales from Fekola are expected to continue as normal, Johnson said. B2Gold expected Fekola to produce between 1,015,000 and 1,055,000 ounces of gold in 2021.
Australian gold miner Resolute Mining also said operations at its Syama mine are continuing as normal with no immediate impact to production, supply or the safety and security of employees and contractors.
On Monday Mali's biggest gold miner, Barrick Gold, said its Loulo-Gounkoto mining complex had sufficient supplies to continue operating normally, but that it was monitoring the "very fluid" situation closely |
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| To: LoneClone who wrote (162673) | 1/11/2022 12:05:38 PM | | From: LoneClone | | | | Trilogy Metals Announces the 2022 Program and Budget for the Upper Kobuk Mineral Projects and Provides Update on Arctic Permitting
newswire.ca
Trilogy Metals Inc. Jan 11, 2022, 06:30 ET
VANCOUVER, BC, Jan. 11, 2022 /CNW/ - Trilogy Metals Inc. (TSX: TMQ) (NYSE American: TMQ) ("Trilogy" or the "Company") is pleased to announce that Ambler Metals LLC ("Ambler Metals"), the joint venture operating company equally owned by Trilogy and a wholly-owned subsidiary of South32 Limited (ASX: S32) (LSE: S32) (JSE: S32) (ADR: SOUHY) ("South32"), has approved the 2022 program and budget of approximately $28.5 million for the advancement of the Upper Kobuk Mineral Projects ("UKMP") located in Northwestern Alaska. The budget is 100% funded by Ambler Metals and was confirmed by the NANA/Ambler Metals Oversight committee. All amounts are in US dollars.
Highlights of the Approved 2022 Program
- Approximately $28.5 million budget fully funded by Ambler Metals
- Up to 10,000 meters to be allocated between resource development drilling at the Arctic Project and priority drill-ready exploration targets in the district
- Engineering studies advancing the Arctic Project
- Submission of the Federal 404 permit application in early 2022
Proposed 2022 Arctic and UKMP Drilling Program
A two-day technical review of the 2021 exploration program, involving geologists from Trilogy, South32 and Ambler Metals, was held in Fairbanks, Alaska on December 8 and 9, 2021. Ambler Metals presented technical results received to date and a preliminary outline of the 2022 exploration program. A full technical review of the 2021 exploration results and ranking of drill targets and target areas for the 2022 field season will be held in early 2022 once all assay results have been received, compiled, and interpreted.
The 2022 budget for Ambler Metals, approved by the owners, Trilogy and South32, will cover up to 10,000 meters of helicopter-supported diamond drilling that is expected to commence in early June. The meterage will be divided between resource development drilling at Arctic and scout drilling of both Volcanogenic Massive Sulphide ("VMS") targets in the Ambler Belt, with a focus on targets near Arctic, and Carbonate-Hosted Copper targets around Bornite and the Cosmos Hills. A greater effort on the ground to identify and evaluate new targets for drilling, including the use of ground and down-hole electro-magnetic (EM) surveys, is planned.
Arctic Permitting
An independent consulting company has completed a preparedness review of the draft permitting package for the Arctic Project and presented the results of this review to the technical teams of South32 and Trilogy. The review concluded that the Ambler Metals permitting strategy is sound and the permitting package can proceed with minor changes. Ambler Metals is now making the recommended changes to the permitting package and expects to file the permitting application, which will start the formal permitting process for the Arctic Project, with the United States Army Corps. of Engineers ("USACE") in early 2022.
Given that the Arctic Project is located on state and private land, the key federal permit will be the 404 Dredge or Fill Permit that is issued by the USACE, the lead agency during the federal permitting process. The permitting process will be carried out in accordance with the National Environmental Policy Act. In parallel with the federal permitting process, the State of Alaska, specifically the Alaska Department of Environmental Conservation, Alaska Department of Natural Resources and Alaska Department of Fish and Game, will be the state agencies responsible for issuing the state permits which include the Mine Operating Permit, the Air Quality Permit, the Dam Construction and Operating Permits, and the Water Discharge Permit. There will also be other permits issued by the Northwest Arctic Borough. The Company expects to file the permit application during the first quarter of 2022, and for the overall permitting process to take 24 to 30 months to be completed.
More details on the proposed 2022 program and Arctic permitting timeline will be made public in early 2022.
Tony Giardini, President and CEO of Trilogy, commented, "We are pleased that we are continuing to make progress on de-risking the Arctic Project and that we are now very close to commencing the formal permitting activities. Senior management at Trilogy Metals is working very closely with representatives from South32 and Ambler Metals in devising a 2022 program that will greatly assist in moving the Arctic Project forward and to continue to add value through the drill bit. We believe that 2022 will be another significant year for the Company."
Qualified Persons
Richard Gosse, Vice President Exploration for Trilogy, is a Qualified Person as defined by National Instrument 43-101. Mr. Gosse has reviewed the scientific and technical information in this news release and approves the disclosure contained herein.
About Trilogy Metals
Trilogy Metals Inc. is a metal exploration and development company which holds a 50 percent interest in Ambler Metals LLC which has a 100 percent interest in the Upper Kobuk Mineral Projects ("UKMP") in Northwestern Alaska. On December 19, 2019, South32, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy. The UKMP is located within the Ambler Mining District which is one of the richest and most-prospective known copper-dominant districts located in one of the safest geopolitical jurisdictions in the world. It hosts world-class polymetallic VMS deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high-grade copper and cobalt mineralization. Exploration efforts have been focused on two deposits in the Ambler Mining District – the Arctic VMS deposit and the Bornite carbonate replacement deposit. Both deposits are located within a land package that spans approximately 181,387 hectares. Ambler Metals has an agreement with NANA Regional Corporation, Inc., an Alaska Native Corporation that provides a framework for the exploration and potential development of the Ambler Mining District in cooperation with local communities. Trilogy's vision is to develop the Ambler Mining District into a premier North American copper producer.
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to the planned expenditures and the anticipated drilling, survey and other activity at the Company's properties and the timing and objectives thereof, the timing of submission and granting of permits, the Company's ability to de-risk the Arctic Project and unlock the mineral potential of the VMS Mineral Belt and the Company's future performance are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the uncertainties involving success of exploration activities, permitting timelines, requirements for additional capital, government regulation of mining operations, environmental risks, prices for energy inputs, labour, materials, supplies and services, uncertainties involved in the interpretation of drilling results and geological tests, unexpected cost increases and other risks and uncertainties disclosed in the Company's Annual Report on Form 10-K for the year ended November 30, 2020 filed with Canadian securities regulatory authorities and with the United States Securities and Exchange Commission and in other Company reports and documents filed with applicable securities regulatory authorities from time to time. The Company's forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. The Company assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, should they change, except as required by law.
SOURCE Trilogy Metals Inc.
 For further information: Company Contacts: Patrick Donnelly, Vice President, Corporate Communications & Development, patrick.donnelly@trilogymetals.com, 604-630-3569; 604-638-8088 or 1-855-638-8088
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| To: LoneClone who wrote (162674) | 1/11/2022 12:24:53 PM | | From: LoneClone | | | | Commencement of Second Phase IXOS Test Work at the Fenix Gold Project
ca.finance.yahoo.com
Rio2 Limited
Tue., January 11, 2022, 4:30 a.m.·4 min read
NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S. NEWSWIRES
HALIFAX, Nova Scotia and VANCOUVER, British Columbia, Jan. 11, 2022 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2”) (TSXV: RIO) (OTCQX: RIOFF) (BVL: RIO) and Sixth Wave Innovations Inc. (CSE: SIXW) (OTCQB: SIXWF) (FSE: AHUH) (“Sixth Wave”) are pleased to announce the second phase test work of patented IXOS® purification polymer (“IXOS®”) will begin at Rio2’s Fenix Gold Project in Chile in mid-January 2022. The second phase test work at the mine site follows on from the successful completion of ore tests at Sixth Wave’s Salt Lake City Utah facility in August 2021.
Sixth Wave will perform adsorption tests using IXOS® beads with solution from installed heap leach columns to evaluate adsorption kinetics and other parameters. Testing will include operation of the system under a variety of testing scenarios to validate IXOS® performance and refine the cost/benefit analysis. Potential positive environmental, social and governance (ESG) impacts and a reduced carbon footprint (CO2 emissions) using IXOS® instead of activated carbon for the process plant will also be explored during this phase of the project. The IXOS® process operates at a significantly reduced power consumption and with fewer reagents than activated carbon creating opportunities for enhancement of Rio2’s ESG initiatives at its Fenix Gold Mine.
“Sixth Wave is committed to making a positive contribution to the optimisation of the adsorption/desorption process of the planned future expansion of the Fenix Gold Mine from its initial throughput rate of 20,000 TPD,” noted Dr. Jon Gluckman, President and CEO of Sixth Wave Innovations Inc.
Alex Black, President and CEO of Rio2 stated, “The Fenix Gold Mine will initiate operations with a carbon adsorption component of the processing plant but we are hoping that, as a result of this upcoming test work, the IXOS Process can be proven as a more cost-effective, energy-efficient and environmentally friendly solution for the adsorption process when we look to expand mine production in the future.”
Rio2 Limited also announces that it has granted 2,100,000 incentive stock options (the “Stock Options”) to purchase Rio2 common shares to certain officers and employees pursuant to Rio2’s Stock Option Plan.
These Stock Options have an expiry date of January 11, 2027, and will vest as to 1/3 thereof on each of the first, second and third anniversaries of grant. Each Stock Option entitles the holder to purchase one Rio2 common share at a price of $0.65 for a period of five years from the date of grant.
About Rio2 Limited
Rio2 is a mining company with a focus on development and mining operations with a team that has proven technical skills as well as a successful capital markets track record. Rio2 is focused on taking its Fenix Gold Project in Chile to production in the shortest possible timeframe based on a staged development strategy. In addition to the Fenix Gold Project in development in Chile, Rio2 Limited continues to pursue additional strategic acquisitions where it can deploy its operational excellence and responsible mining practices to build a multi-asset, multi-jurisdiction, precious metals company.
To learn more about Rio2 Limited, please visit: www.rio2.com or Rio2's SEDAR profile at www.sedar.com.
ON BEHALF OF THE BOARD OF RIO2 LIMITED
Alex Black
President, CEO & Director
Email: info@rio2.com
Tel: 1 (604) 260-2696
About Sixth Wave
Sixth Wave is a development stage nanotechnology company with patented technologies that focus on extraction, purification, and detection of target substances at the molecular level using highly specialized Molecularly Imprinted Polymers (MIPs). The Company is in the process of commercializing its, IXOS®, a line of extraction polymers for the gold mining industry.
Sixth Wave can design, develop and commercialize MIP solutions across a broad spectrum of industries. The company is focused on nanotechnology architectures that are highly relevant for detection, purification, and separation of viruses, biogenic amines and other pathogens, and nutraceuticals for which the Company has products at various stages of development.
For more information about Sixth Wave, please visit our website at: www.sixthwave.com
ON BEHALF OF THE BOARD OF SIXTH WAVE INNOVATIONS INC.
“Jon Gluckman”
Jonathan Gluckman, Ph.D., President & CEO
For information, please contact the Company:
Phone: (801) 582-0559
E-mail: info@sixthwave.com
Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively “forward-looking information”) within the meaning of applicable securities laws, including statements regarding Rio2’s planned development of its Fenix Gold Project, other aspects of Rio2’s anticipated future operations and plans, and the testing and performance of Sixth Wave’s IXOS® Mining Technology.
All statements included herein, other than statements of historical fact, may be forward-looking information and such information involves various risks and uncertainties. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, and similar expressions. The forward-looking information is based on certain key expectations and assumptions made by management of Rio2 and Sixth Wave, including but not limited to: expectations concerning prevailing commodity prices, exchange rates, interest rates, applicable royalty rates and tax laws; capital efficiencies; legislative and regulatory environment of Chile; future production rates and estimates of capital and operating costs; estimates of reserves and resources; anticipated timing and results of capital expenditures; the sufficiency of capital expenditures in carrying out planned activities; performance; the availability and cost of financing, labor and services; and Rio2’s ability to access capital on satisfactory terms.
Rio2 and Sixth Wave believe the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements in this press release should not be unduly relied upon. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in disclosure documents of both Rio2 and Sixth Wave on the SEDAR website at www.sedar.com or the websites of Rio2 ( www.rio2.com) and Sixth Wave ( www.sixthwave.com), ?respectively.? In particular, successful commercial deployment of the IXOS® technology is subject ?the risk that the technology may not prove to be successful in achieving sufficient ?environmental or production efficiencies, uncertainty of timing or availability of required ?regulatory approvals, lack of track record of developing products for mining applications ?and the need for additional capital to carry out product development activities.? Forward-looking statements included in this press release are made as of the date of this press release and such information should not be relied upon as representing its views as of any date subsequent to the date of this press release. Rio2 and Sixth Wave have attempted to identify important factors that could cause actual results, performance or achievements to vary from those current expectations or estimates expressed or implied by the forward-looking information. However, there may be other factors that cause results, performance or achievements not to be as expected or estimated and that could cause actual results, performance or achievements to differ materially from current expectations. Rio2 and Sixth Wave disclaim 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 expressly required by applicable securities legislation.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the 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. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts the responsibility for the adequacy or accuracy of this release. |
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| To: LoneClone who wrote (162675) | 1/11/2022 12:33:18 PM | | From: LoneClone | | | | Canada Silver Cobalt Works: Re-2Ox Process Extracts 99 Percent of Rubidium from Granada Gold Mine's Battery Metals Zone
Stage I bench-scale testing has been completed at SGS Lakefield using the Re-2Ox process for the recovery of performance-enhancing battery metal Rubidium from Granada Gold Mine's drill core. Test work was funded and supervised by Canada Silver Cobalt Works
newsfilecorp.com
Coquitlam, British Columbia--(Newsfile Corp. - January 11, 2022) - Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (FSE: 4T9B) (Canada Silver Cobalt or the Company) and Granada Gold Mine Inc. (TSXV: GGM) (OTC Pink: GBBFF) (FSE: B6DA) are pleased to announce positive bench-scale leach test results achieving 99 percent extraction of the contained alkali metal rubidium from drill core sourced from the recently discovered EV battery metals zone at the Granada Gold deposit in northwestern Quebec.
Highlights:
- SGS bench scale test-work achieves leach extraction of 99% rubidium
- Project economics are enhanced by having gold bullion as a primary metal recovery and rubidium carbonate as a secondary by-product metal recovery
- The company is now positioned to use the Re-2Ox Process to accept additional feeds for evaluation under a toll processing arrangement
Canada Silver Cobalt Works CEO Frank J. Basa, P.Eng., states: "To successfully leach rubidium from the mineralized material is a major accomplishment for the Re-2Ox process. It demonstrates its flexibility in treating other feeds using the same chemicals and process equipment that we used to produce base metal EV salts."
"The company plans to reintegrate the precious metal leaching stage into the Re-2Ox process thereby making the process more viable. This precious metal production will permit the production of EV battery salts by-products at low or no cost. The Company will be working closely with Granada Gold Mine Inc. in the coming months to use the Re-2Ox process to further develop the potential market and economics for the rubidium carbonate salts that would meet the EV battery metals market sourcing needs," Basa continued.
Canada Silver Cobalt aims to supply high-value metals to the electric vehicle (EV) battery market using the Re-2Ox process. With its 100-percent ownership of property holdings in safe jurisdictions containing cobalt, nickel, copper, silver and gold, it is secure in meeting the demands of the global EV battery market. As a consequence of the encouraging results in leaching rubidium, the company is now actively looking for other feeds to evaluate for processing that it does not own but can toll process using the Re-2Ox process.
Discovery at Granada:
The recent discovery of a potentially large, low-grade alkali and rare earth mineralized zone at Granada Gold Mine meets the Company criteria. With the addition of rubidium carbonate salt to the electrolyte, battery performance in both lithium-ion and sodium-ion EV batteries improves in charging rates and cyclability.
The EV battery metals zone consists of several alkali and rare earth metals discovered near surface and at depth in early 2021 during a 30,000-meter infill drilling program on the northern section of the Big Claim at the Granada Gold Mine property. Two drill holes, separated by 1600 meters, were tested and assayed. The deepest hole, drilled to a depth of 1626 meters, intersected 21 distinct mineralized zones varying in width from 2.8 to 177 meters. The best grade, over a wide width, for rubidium was 340 grams per tonne over 53 meters. Current pricing for rubidium carbonate salt is about 1.00 US dollar per gram. As this EV metal mineralized zone sits stratigraphically on top of the Gold mineralized zone, it may be mined to produce gold bullion as a primary recoverable metal with a rubidium carbonate salt as a by-product there-by significantly increasing the value and economics of the property.
Leach Test:
Drill core from the EV battery metals discovery zone, from the northern part of the Big Claim at Granada Gold Mine, was used for the test work at SGS Canada. The core was crushed and ground to 80 percent passing 200 mesh, followed by a conventional flotation process to remove pyrite. Pyrite removal minimizes chemical consumption during the Re-2Ox leaching process. Multiple bench-scale tests were undertaken to optimize leach extraction, achieving 99 percent of contained rubidium metal, by varying leach time, chemical concentrations, and temperatures.
Reintegration of the Precious Metals Leaching Stage into Re-2Ox Process:
The company decided to reintegrate the precious metal stage into the Re-2Ox process as the primary pay metal and produce EV by-product metals at zero or low cost. This approach de-risks project economics due to massive price swings of EV battery metals.
Rubidium in EV batteries:
Rubidium carbonate salts are commonly used in EV lithium-ion batteries and, more recently, in sodium-ion battery electrolytes. Sodium-ion batteries use low-cost, and benign metals. Sodium is significantly more abundant than lithium, so it is possible to produce a larger quantity of EV batteries at a lower cost. Sodium-ion batteries would not require costly factory redesigns to be put into production because it would use existing technology. Sodium-ion battery anodes are carbon based, similar to lithium-ion batteries.
Chinese battery manufacturer CATL supplies Li-ion batteries for auto manufacturers including Tesla and produces 30 percent of global battery needs. CATL states that "Sodium-ion batteries could offer greater fast-charging performance than current Li-ion cells, along with lifecycle and safety performance that matches or exceeds that of our own LFP-based lithium batteries." CATL also points to "sodium-ion's impressive low-temperature performance where the chemistry sees less capacity-fading and less performance-fading than lithium-ion, which is known to struggle in cold climates." CATL has begun small-scale commercial deployment of sodium-ion batteries in July 2021 and plans to ramp up the sodium-ion supply chain through to 2023. The main attraction of sodium-ion batteries is sustainability. ( CATL news July 29, 2021).
Location:
The Granada Gold Mine project is located in an established mining district 5 km south of Rouyn-Noranda adjacent to the prolific Cadillac Break shear zone, which is hosted in Pontiac metasedimentary rocks, granites, and younger syenite sills along the Granada shear zone (LONG Bars Zone). The project is located on the same side of the Cadillac Fault as the Canadian Malartic mine property, which has historically produced 12.7 million Ounces of gold from 1935 to 2010 with an additional 5 million ounces as of June 18, 2020 (Canadian Malartic Technical Report of March 25, 2021 & Le Citoyen June 19, 2020).
Qualified Person:
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc., a member of the Québec Order of Engineers, and is a qualified person in accordance with the National Instrument 43-101 standards.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. This discovery has the highest silver resource grade in the world, with recent drill intercepts of up to 89,853 grams/tonne silver (2,621 oz/ton Ag). A drill program is underway to expand the size of the deposit with an update to the resource estimate scheduled for Q1 2022.
In May 2020, based on a small initial drill program, the Company published the region's first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.
CCW has 39,017.96 hectares of electric vehicle (EV) battery metals exploration properties (containing nickel, copper and cobalt) with 15 properties in Quebec and 1 in Northern Ontario. Exploration is underway at the Graal massive sulphide formation in Northern Quebec. Drill core has been encouraging with initial XRF results up to 2.79% nickel and 25.68% copper in hole NRC 21 03; lab results are still pending.
Canada Silver Cobalt's flagship silver-cobalt Castle mine and 78 sq. km Castle Property and recently acquired properties in Ontario and Quebec feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space and battery metals. More information at www.canadasilvercobaltworks.com.
"Frank J. Basa"
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking statements which include, but are not limited to, comments regarding the Offering and comments that involve other future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address the Offering, resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, future financings, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. No assurance can be given that the Offering will close on the terms and conditions set out in this news release or at all. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. A detailed discussion of the risk factors encountered by Canada Silver Cobalt is available in the Company's Annual Information Form dated July 19, 2021 for the fiscal year ended December 31, 2020 available under the Company's profile on SEDAR at www.sedar.com. |
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| To: LoneClone who wrote (162676) | 1/11/2022 12:36:31 PM | | From: LoneClone | | | | Excelsior Mining Mobilizes for Drilling of the Johnson Camp Mine and the Strong & Harris and Peabody Sill Deposits, Arizona
newswire.ca
Excelsior Mining Corp. Jan 11, 2022, 08:37 ET
PHOENIX, Jan. 11, 2022 /CNW/ - Excelsior Mining Corp. (TSX: MIN) (OTCQX: EXMGF) (FSE: 3XS) ("Excelsior" or the "Company") announces that 2 diamond drills have been mobilized to the Johnson Camp Mine ("JCM"), for infill drilling of the Burro and Copper Chief open pits, as well as drilling of the geophysical anomalies at the Strong & Harris and Peabody Sill deposits ("S&H").
Strong & Harris IP and Magnetic Anomaly (CNW Group/Excelsior Mining Corp.)
Godbe Drilling LLC. ("Godbe") from Colorado has been retained to drill 11,000 feet (3,250 meters) infill and metallurgical drilling targeting the Burro and Copper Chief deposits at JCM. The purpose of this drilling is to support the planned restart of copper mining at JCM.
"We are moving quickly on key items related to the JCM restart, which, once operational, will provide cash flow while the raffinate neutralization plant is being designed and built for our flagship asset, the Gunnison Copper Mine." Comments Stephen Twyerould, President and CEO of Excelsior Mining.
Godbe will also conduct 10,000 feet (3,050 meters) of infill and metallurgical drilling for S&H, as well as 4,000 feet (1,220 meters) in exploration drilling. Exploration drilling will evaluate a magnetic anomaly similar in size and intensity as the nearby S&H deposit. This anomaly is closer to the center of the JCM mineralized system than S&H and as such is a high priority target. The exploration drilling will also target an IP (Induced Polarization) anomaly along strike of known mineralization in the Peabody sill. See image.
The plan is to first drill the JCM deposit infill and metallurgical holes. These holes will be completed before the end of Q1, 2022. The drill rigs will then be moved to Strong & Harris and Peabody Sill for exploration drilling and finally for the infill and metallurgical drilling there. All drilling is expected to be completed before the end of Q2, 2022.
About Excelsior Mining
Excelsior "The Copper Solution Company" is a mineral exploration and production company that owns and operates the Gunnison Copper Project in Cochise County, Arizona. The project is a low cost, environmentally friendly in-situ recovery copper extraction project that is permitted to 125 million pounds per year of copper cathode production. Excelsior also owns the past producing Johnson Camp Mine and a portfolio of exploration projects, including the Strong & Harris and Peabody Sill deposit.
Excelsior's technical work on the Gunnison Copper Project and Johnson Camp Mine is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release related to the Gunnison Copper Project and Johnson Camp mine, and underlying sampling, analytical and test data.
For more information on Excelsior, please visit our website at www.excelsiormining.com.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the future development plans for the Gunnison Project and its status as a low cost environmentally friendly in-situ recovery copper extraction project;(ii) future production of copper from the Gunnison Project and Johnson Camp Mine and the associated cashflow from some operations; (iii) the details of the drill program including targets, timing and number of feet of drilling.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and mineral reserves, the realization of resource and reserve estimates, expectations and anticipated impact of the COVID-19 outbreak, copper and other metal prices, the timing and amount of future development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs (including the price of acid), the availability of labour, material and acid supply, receipt of and compliance with necessary regulatory approvals and permits, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the construction and operation of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined including the possibility that mining operations may not be sustained at the Gunnison Copper Project or Johnson Camp Mine, risks relating to variations in mineral resources and reserves, grade or recovery rates, risks relating to the ability to access infrastructure, risks relating to changes in copper and other commodity prices and the worldwide demand for and supply of copper and related products, risks related to increased competition in the market for copper and related products, risks related to current global financial conditions, risks related to current global financial conditions and the impact of COVID-19 on the Company's business, uncertainties inherent in the estimation of mineral resources, access and supply risks, risks related to the ability to access acid supply on commercially reasonable terms, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the construction or mining process, regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests, environmental risks and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators.
Although the Company 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 may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.
SOURCE Excelsior Mining Corp.
 For further information: Excelsior Mining Corp., Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.; Shawn Westcott, T: 604.365.6681, E: info@excelsiormining.com, www.excelsiormining.com
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| To: LoneClone who wrote (162677) | 1/11/2022 12:42:00 PM | | From: LoneClone | | | | Endeavour Silver Ends the Year on a Strong Note; FY2021 Annual Production Surpasses Upper End of Guidance
ca.finance.yahoo.com
Endeavour Silver Corporation
Tue., January 11, 2022, 3:50 a.m.·7 min read
VANCOUVER, British Columbia, Jan. 11, 2022 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) is pleased to report full year 2021 production of 4,870,787 silver ounces (oz) and 42,262 gold oz, for silver equivalent1 (“AgEq”) production of 8.3 million oz. Fourth quarter production was 1,443,564 silver oz and 9,446 gold oz, for silver equivalent production of 2.2 million oz AgEq.
The Company’s 2021 full year production exceeded the upper range of its guidance of between 7.7 million oz and 8.0 million oz AgEq (revised upward in October) due to continuing strong performance at Guanacevi with higher grades and tonnage milled. Annual silver production exceeded guidance by 3% while gold production was in line with the upper range of guidance.
"Steady performance at Bolanitos, together with record mill throughput, grade and production at Guanacevi boosted our 2021 consolidated production beyond the upper end of our increased guidance,” said Dan Dickson, Endeavour’s Chief Executive Officer. “Last year was a great year due to the excellent efforts of our entire team and we are in a strong position going into 2022.”
Q4 and FY2021 Highlights
Exceeded Production Guidance: Consolidated production remained strong as silver and gold production at each mine met or exceeded revised 2021 guidance and exceeded plan.
Guanacevi Continued to Outperform: Silver and gold grades continued to deliver well above plan and throughput approached plant capacity.
Bolanitos Performance Remained Steady: Silver grades and plant throughput exceeded plan with gold grades slightly below plan.
Metal Sales and Inventories: Sold 1,413,699 oz silver and 8,715 oz gold, held 1,028,340 oz silver and 1,044 oz gold of bullion inventory and 54,270 oz silver and 2,630 oz gold in concentrate inventory at year end. Management continued to be bullish on precious metal prices and withheld a portion of metal sales in the fourth quarter, consistent with the levels held as at September 30, 2021.
Encouraging Brownfields Exploration Results from Guanacevi and Bolanitos: Drilling continued to intersect high-grade gold-silver mineralization in the Santa Cruz vein at Guanacevi and intersect multiple mineralized structures near current workings at Bolanitos.
Positive Greenfields Exploration Results from the Parral Project: Drilled over 14,000 metres targeting several areas along the La Colorada vein with encouraging results to expand the mineral resource estimate.
Continued to Advance the Terronera Project: The Terronera Project Technical Report, authored in accordance with National Instrument 43-101 was filed on SEDAR and EDGAR on October 25, 2021. Work continued on final detailed engineering, early earth works, critical contracts and procurement of long lead items. The financing and final permitting processes are progressing, however, the current surge in COVID-19 cases caused by the Omicron variant has extended the anticipated timeline. The Company intends to make a formal construction decision subject to completion of a financing package and receipt of additional amended permits in the coming months.
Sold El Cubo Assets: The Company sold its El Cubo assets in Guanajuato, Mexico to Guanajuato Silver Co (formerly Vangold Mining Corp) for US$15 million plus contingent payments up to US$3 million in a transaction that closed April 9, 2021.
Suspended Operations at El Compas: Management suspended operations at El Compas in mid-August and is currently evaluating its alternatives for the asset.
Acquired Bruner, an Advanced Stage Exploration Project: Ideally situated within Nevada’s Walker Lane NW trending mineral belt, this acquisition closed on September 1, 2021.
Q4 2021 Mine Operations
Consolidated silver production increased by 29% to 1,443,564 ounces in Q4 2021 compared to the prior year quarter, primarily driven by a 31% increase in silver production at the Guanacevi mine and a 42% increase in silver production at the Bolanitos mine offset by the suspension of operations at the El Compas mine. Gold production decreased by 25% to 9,446 ounces due to a 19% decrease in gold production at Bolanitos mine and the suspension of operations at the El Compas mine offset by a 21% increase in gold production at the Guanacevi mine.
Guanacevi throughput in Q4 2021 was consistent with Q4 2020 but silver grades and gold grades were each significantly higher. Guanacevi throughput exceeded plan and mining the new higher grade El Curso orebody has led to significantly improved grades and mine plan flexibility. Additionally, supplies of local third-party ores continued to supplement mine production, amounting to 14% of quarterly throughput and contributing to the higher ore grades.
Bolanitos Q4 2021 throughput was consistent with Q4 2020 with increased silver grades and decreased gold grades. Silver production increased by 42% while gold production decreased by 19% at the Bolanitos mine.
Production Highlights for the Three Months and Year Ended December 31, 2021
Three Months Ended December 31
| Highlights
| Years Ended December 31
| 2021
| 2020
| % Change
|
| 2021
| 2020
| % Change
| 213,492
| 237,389
| (10
| %)
| Throughput (tonnes)
| 887,424
| 757,160
| 17
| %
| 1,443,564
| 1,117,289
| 29
| %
| Silver ounces produced
| 4,870,787
| 3,513,767
| 39
| %
| 9,446
| 12,586
| (25
| %)
| Gold ounces produced
| 42,262
| 37,139
| 14
| %
| 1,432,578
| 1,108,848
| 29
| %
| Payable silver ounces produced
| 4,826,681
| 3,482,094
| 39
| %
| 9,261
| 12,314
| (25
| %)
| Payable gold ounces produced
| 41,438
| 36,392
| 14
| %
| 2,199,244
| 2,124,169
| 4
| %
| Silver equivalent ounces produced1
| 8,251,747
| 6,484,887
| 27
| %
| 1,413,699
| 1,419,037
| (0
| %)
| Silver ounces sold
| 3,856,883
| 3,460,638
| 11
| %
| 8,715
| 13,850
| (37
| %)
| Gold ounces sold
| 39,113
| 35,519
| 10
| %
|
Q4 2021 Production by Mine
Production
| Tonnes
| Tonnes
| Grade
| Grade
| Recovery
| Recovery
| Silver
| Gold
| by mine
| Produced
| per day
| Ag gpt*
| Au gpt*
| Ag %
| Au %
| Oz
| Oz
| Guanaceví
| 108,334
| 1,178
| 417
| 1.21
| 89.6
| %
| 92.2
| %
| 1,301,941
| 3,885
| Bolañitos
| 105,158
| 1,143
| 48
| 1.83
| 87.0
| %
| 88.9
| %
| 141,258
| 5,502
| Consolidated
| 213,492
| 2,372
| 235
| 1.52
| 89.4
| %
| 90.8
| %
| 1,443,564
| 9,446
|
*gpt = grams per tonne
FY2021 Production by Mine
Production
| Tonnes
| Tonnes
| Grade
| Grade
| Recovery
| Recovery
| Silver
| Gold
| by mine
| Produced
| per day
| Ag gpt*
| Au gpt*
| Ag %
| Au %
| Oz
| Oz
| Guanaceví
| 414,355
| 1,135
| 370
| 1.09
| 87.9
| %
| 91.7
| %
| 4,333,567
| 13,317
| Bolañitos
| 418,514
| 1,147
| 42
| 2.02
| 87.0
| %
| 90.7
| %
| 491,412
| 24,652
| El Compas
| 54,555
| 149
| 36
| 3.05
| 72.5
| %
| 80.2
| %
| 45,808
| 4,293
| Consolidated
| 887,424
| 2,431
| 195
| 1.65
| 87.6
| %
| 89.8
| %
| 4,870,787
| 42,262
|
*gpt=grams per tonne
1 Silver equivalent calculated using an 80:1 silver:gold ratio.
2021 Financial Results and Conference Call
The Company’s 2021 financial results will be released before markets open on Thursday, March 10, 2022 and a telephone conference call will be held the same day at 10:00 a.m. PT / 1:00 p.m. ET. To participate in the conference call, please dial the numbers below.
Date & Time:
| Thursday, March 10, 2022 at 10:00 a.m. PT / 1:00 p.m. ET
|
|
| Telephone:
| Toll-free in Canada and the US +1-800-319-4610
|
| Local or International +1-604-638-5340
|
| Please allow up to 10 minutes to be connected to the conference call.
|
|
| Replay:
| A replay of the conference call will be available by dialing (toll-free)
+1-800-319-6413 in Canada and the US (toll-free) or +1-604-638-9010 outside of Canada and the US. The replay passcode is 8312#. The replay will also be available on the Company’s website at www.edrsilver.com.
|
About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that operates two high-grade underground silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision, pending financing and final permits and exploring its portfolio of exploration and development projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.
SOURCE Endeavour Silver Corp.
Contact Information
Trish Moran
Interim Head of Investor Relations
Tel: (416) 564-4290
Email: pmoran@edrsilver.com
Website: www.edrsilver.com
Follow Endeavour Silver on Facebook, Twitter, Instagram and LinkedIn
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding Endeavour’s anticipated performance in 2022 including changes in mining operations and production levels, the timing and results of various activities and the impact of the COVID 19 pandemic on operations. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited to the ultimate impact of the COVID 19 pandemic on operations and results, changes in production and costs guidance, national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; financial risks due to precious metals prices, operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development, risks in obtaining necessary licenses and permits, and challenges to the Company’s title to properties; as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
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| To: LoneClone who wrote (162678) | 1/11/2022 1:00:18 PM | | From: LoneClone | | | | Gatos Silver Reports Record Production Performance During Fourth Quarter 2021
ca.finance.yahoo.com
Mon., January 10, 2022, 4:00 a.m.·6 min read
DENVER, January 10, 2022--( BUSINESS WIRE)--Gatos Silver, Inc. (NYSE/TSX: GATO) ("Gatos Silver" or the "Company") is very pleased to report record silver production and plant throughput from the 70%-owned Cerro Los Gatos ("CLG") mine during the fourth quarter of 2021 ("Q4").
2021 and Q4 Operating Performance
Silver production in Q4 was 2.3 million ounces and increased 35% compared to the third quarter 2021 ("Q3"), due primarily to higher mined silver ore grades as well as higher throughput and recoveries. Lead and zinc production in Q4 were slightly below Q3 levels, due to lower mined lead and zinc ore grades. CLG’s 2021 silver production of 7.6 million ounces exceeded the Company’s guidance of 7.4 million ounces. Zinc and lead production of 50 million and 40 million pounds, respectively, were both consistent with the Company’s 2021 guidance range.
CLG achieved record throughput in Q4 totaling 241,397 tonnes, exceeding Q3 throughput by 3.1%. For 2021, 909,586 tonnes were processed, a 36% increase compared to 2020, which included a 45-day pandemic-related temporary suspension of plant operations.
CLG achieved record silver recovery during Q4, with recoveries for silver, lead and zinc continuing to exceed design rates.
Due to record 2021 production, and elimination of debt service requirements by the early retirement of the Los Gatos Joint Venture ("LGJV") Working Capital Facility and Term Loan during 2021, the LGJV had over $20 million of cash at December 31, 2021.
CLG comparative production highlights are summarized below:
CLG Production (100% Basis)
| Q4 2021
| Q3 2021
| Q2 2021
| Q1 2021
| FY 2021
| FY 2020
| Tonnes milled (dmt - reconciled)
| 241,397
| 234,054
| 230,656
| 203,479
| 909,586
| 667,422
| Tonnes milled per day (dmt)
| 2,624
| 2,544
| 2,535
| 2,261
| 2,492
| 1,829
| Average Grades
|
|
|
|
|
|
| Silver grade (g/t)
| 331
| 256
| 322
| 261
| 295
| 229
| Gold grade (g/t)
| 0.30
| 0.30
| 0.35
| 0.32
| 0.32
| 0.42
| Lead grade (%)
| 2.18
| 2.35
| 2.51
| 2.00
| 2.27
| 2.27
| Zinc grade (%)
| 3.90
| 4.10
| 4.41
| 3.24
| 3.94
| 3.64
| Contained Metal
|
|
|
|
|
|
| Silver ounces (millions)
| 2.3
| 1.7
| 2.1
| 1.5
| 7.6
| 4.2
| Gold ounces - in lead conc. (thousands)
| 1.3
| 1.3
| 1.5
| 1.1
| 5.2
| 4.9
| Lead pounds - in lead conc. (millions)
| 10.2
| 10.8
| 11.2
| 7.6
| 39.8
| 27.4
| Zinc pounds - in zinc conc. (millions)
| 12.9
| 13.5
| 14.5
| 8.7
| 49.6
| 34.2
| Recoveries (combined lead and zinc conc.)
|
|
|
|
|
|
| Silver
| 90%
| 89%
| 89%
| 85%
| 86%
| 84%
| Gold
| 63%
| 63%
| 63%
| 60%
| 61%
| 62%
| Lead
| 91%
| 91%
| 90%
| 87%
| 86%
| 87%
| Zinc
| 73%
| 74%
| 75%
| 71%
| 73%
| 73%
|
Stephen Orr, Chief Executive Officer, stated, "CLG’s record performance in Q4 reflects the progressive enhancements to processing and mining productivity throughout 2021. Improvement initiatives included continual refinements to the mining cycle which allowed the mine to increase daily production to more than 2,600 tonnes per day by year-end. Additional infrastructure additions completed during 2021, such as the Central Zone refrigeration plant and improved water management facilities, will help ensure these production improvements are sustainable and facilitate access to higher grade ore zones. Commissioning of real-time monitoring and reagent addition in the process plant’s flotation circuits improved recoveries for silver, zinc, lead and gold. All these improvements had a compounding effect that contributed to the outstanding Q4 performance. The CLG operation is now positioned for further production improvement initiatives and cost reduction in 2022."
Financial Results Webcast and Conference Call
Gatos Silver will host a webcast and conference call to discuss its Q4 and year-end 2021 financial results on March 9, 2022 at 12:00 p.m. Eastern Time.
Conference Call Details:
To register for this conference call, please use this link: cts.businesswire.com.
After registering, a confirmation will be sent through email, including dial-in details and unique conference call codes for entry. Registration is open through the live call. To ensure you are connected for the full call we suggest registering a day in advance or at minimum 10 minutes before the start of the call.
Webcast Details:
Title: Gatos Silver Q4 and Year-End 2021 Earnings Call
URL: cts.businesswire.com
A replay of the webcast will be available following the conference call on the Company’s website, www.gatossilver.com.
About Gatos Silver
Gatos Silver is a silver dominant exploration, development and production company that discovered a new silver and zinc-rich mineral district in southern Chihuahua State, Mexico. To-date, 14 zones of mineralization have been defined within the district and all are characterized by silver-zinc-lead epithermal mineralization. More than 85% of the approximately 103,087-hectare mineral rights package has yet to be drilled, representing a highly prospective and underexplored district. As a 70% owner of the LGJV, the Company recently built and commissioned its first operating mine and mineral processing plant at the LGJV’s CLG deposit.
Forward-Looking Statements
This press release contains statements that constitute "forward looking information" and "forward-looking statements" within the meaning of U.S. and Canadian securities laws. All statements other than statements of historical facts contained in this press release, including statements regarding the expected average annual production are forward-looking statements. Forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors described in our filings with the U.S. Securities and Exchange Commission and Canadian securities commissions. Certain forward-looking statements are based on assumptions, qualifications and procedures which are set out only in the technical report entitled "Los Gatos Project, Chihuahua, Mexico," dated July, 2020 with an effective date of July 1, 2020 (the "Los Gatos Technical Report") filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Scientific and technical disclosures in this press release were approved by Philip Pyle, Vice President of Exploration and Chief Geologist of Gatos Silver who is a "Qualified Person," as defined in NI 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. For a complete description of assumptions, qualifications and procedures associated with such information, reference should be made to the full text of the Los Gatos Technical Report. Gatos Silver expressly disclaims any obligation or undertaking to update the forward-looking statements contained in this press release to reflect any change in its expectations or any change in events, conditions, or circumstances on which such statements are based unless required to do so by applicable law. No assurance can be given that such future results will be achieved. Forward-looking statements speak only as of the date of this press release.
View source version on businesswire.com: businesswire.com
Contacts
Investors and Media Contact
Adam Dubas
Chief Administrative Officer
investors@gatossilver.com
(303) 784-5350 |
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| To: LoneClone who wrote (162679) | 1/11/2022 1:02:04 PM | | From: LoneClone | | | | Mountain Boy Discovers New High-Grade Target Area on BA Project in BC's Golden Triangle
High-grade 'MJ' target area discovered 3 kilometres from drilled area.High grade mineralization includes a sample at 5.6 kilograms per tonne silver, 1.4 g/t gold, 16.7% lead, 4.0% zinc and 2.4% copper.Target area defined by a 500-metre trend which remains open.
newsfilecorp.com
Vancouver, British Columbia--(Newsfile Corp. - January 10, 2022) - Mountain Boy Minerals Ltd (TSXV: MTB) (OTCQB: MBYMF) (FSE: M9U) ("Mountain Boy" or the "Company") announces further encouraging results from its 2021 field program on the BA project which included drilling, geologic mapping, prospecting, and channel sampling.
Mapping and prospecting on the BA project beyond the area of drilling generated three new exploration targets which emphasizes the unexplored potential of this prospective 10,658-hectare property.
The BA Project is 29 kilometres by road from the deep-water seaport in Stewart. Highway 37A and a high voltage transmission line run through the northern end of the property. Drilling on the Barbara Zone from 2006 to 2010 outlined an extensive zone of silver-lead-zinc mineralization.
New MJ Target
The MJ target was identified through mapping and prospecting and was followed up with limited channel sampling. The zone occurs approximately 3 kilometres to the northeast of the Barbara zone, which has been partially outlined by 182 diamond drill holes.
Lucia Theny, VP Exploration stated "Our work over the past couple of years has greatly expanded the scope of this well mineralized property. The earlier work focused on the Barbara zone, which we now recognize as being one aspect of a mineralized trend that we have tracked for 12 kilometres. Our objective is to methodically work toward identifying zones prospective for hosting high grade occurrences."
This new zone is at the contact of the underlying Lower Hazelton volcanic rocks and the overlying Upper Hazelton sediments. This is the same contact identified at the Barbara Zone and is interpreted to be the same stratigraphic horizon as the famous high-grade Eskay Creek gold-silver mine. Eskay Creek is also in the Golden Triangle and was the highest-grade gold mine in the world when it was in production. The new MJ target further demonstrates the prospective nature of the contact between the Upper and Lower Hazelton rocks, which occurs on both the company's BA and Surprise Creek Properties. The MJ Target as currently defined trends 500 metres and remains open.
Polymetallic mineralization is hosted in a quartz-carbonate stockwork and as disseminations in the volcanic rocks. Several samples assayed high grade silver values with multi percent combined lead and zinc values (see Table 1 for surface sample highlights). This new zone is significant as it establishes another manifestation of the VHMS mineralization and highlights the potential scale of the system. This new target area will be the focus of follow up work in the 2022 field season. Work will include detailed mapping, a drone survey and additional channel sampling.
Table 1
To view an enhanced version of this graphic, please visit:
orders.newsfilecorp.com
*Silver-equivalent and zinc-equivalent values are calculated using the current commodity spot prices for December 24th, 2021. For the purposes of exploration targeting, metal recoveries are assumed to be 100%. Metal price assumptions are US$23.00 /oz silver, US$1805.55 /oz gold, US$4.40 /lb copper, $1.05/lb lead and US$1.60/lb zinc.
Other New Areas of Interest
The North Nelson Zone was also discovered in the 2021 field season and is located approximately 4 km to the east from the Barbara Zone. The new discovery occurs along a structure that trends to the south, towards the Nelson Zone. This new zone is highlighted by two soil geochemistry lines that are anomalous in copper, lead and zinc and a grab sample that assayed 1157 grams per ton silver, 0.35% copper, 0.79% lead and 0.42% zinc. Further mapping and sampling is proposed for the 2022 season with the objective of defining the extent of this prospective target.
An area located at the toe of the Nelson glacier, approximately 7 km east from the Barbara zone has returned a grab sample assaying 11.3 grams per ton gold and 0.2% copper. This sample and area will be further explored in the 2022 season.
About Mountain Boy Minerals
Mountain Boy has six active projects spanning 604 square kilometres (60,398 hectares) in the prolific Golden Triangle of northern British Columbia.
The American Creek project is centered on the historic Mountain Boy silver mine and is just north of the past producing Red Cliff gold and copper mine (in which the Company holds an interest). The American Creek project is road accessible and 20 km from the deep-water port of Stewart.On the BA property, 182 drill holes have outlined a substantial zone of silver-lead-zinc mineralization located 4 km from the highway. Surprise Creek is interpreted to be hosted by the same prospective stratigraphy as the BA property and hosts multiple occurrences of silver, gold and base metals.On the Theia project, work by Mountain Boy and previous explorers has outlined a silver bearing mineralized trend 500 meters long, highlighted by a 2020 grab sample that returned 39 kg per tonne silver (1,100 ounces per ton).Southmore is located in the midst of some of the largest deposits in the Golden Triangle. It was explored in the 1980s through the early 1990s, and largely overlooked until Mountain Boy consolidated the property and confirmed the presence of multiple occurrences of gold, copper, lead and zinc.The Telegraph project has a similar geological setting to major gold and copper-gold deposits in the Golden Triangle. The MTB geological team assembled the results of work spanning several decades by more than 50 companies, each working on small target areas, areas as the basis of consolidating a large property position.
The technical disclosure in this release has been read and approved by Andrew Wilkins, B.Sc., P.Geo., a qualified person as defined in National Instrument 43-101.
On behalf of the Board of Directors:
Lawrence Roulston
President & CEO
For further information, contact:
Fraser Ruth
Investor Relations
(416) 274-3195
Kirsti Mattson
Corporate Communications/Media Relations
(778) 434-2241
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.
This news release may contain certain "forward looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. |
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| To: LoneClone who wrote (162680) | 1/11/2022 1:07:01 PM | | From: LoneClone | | | | Apollo Silver: Gold identified at Waterloo project in continuous near-surface horizon
ca.finance.yahoo.com
Apollo Gold & Silver Corp.
Tue., January 11, 2022, 7:34 a.m.·13 min read
Figure 1
Location of drill holes with gold assays and those that also pierce the Barstow-Pickhandle contact at the Waterloo project.
Figure 2
Cross Section of gold mineralization relative to silver mineralization at the Waterloo project hilltop region.
VANCOUVER, British Columbia, Jan. 11, 2022 (GLOBE NEWSWIRE) -- Apollo Silver Corp. (“Apollo” or the “Company”) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF) is pleased to provide an update on its ongoing technical review of historic data at the Waterloo and Langtry projects in San Bernardino County, California. Recently this work has identified a 25 metre (“m”) thick, gold bearing horizon below silver mineralization. Silver mineralization transitions to gold-dominated mineralization at the variably faulted lithologic contact between Barstow formation sedimentary rocks and Pickhandle formation volcaniclastics. Gold mineralization at the district’s only historic gold producer, the Burcham Mine, occurs along this contact 250 m to the southeast. Apollo’s analysis of historic data has shown that not only does gold mineralization extend beyond the Burcham mine area, evidence suggests that at the Waterloo project the entire 2.2 kilometre (“km”) long contact between the Barstow sediments and Pickhandle volcaniclastics is prospective for gold mineralization.
Highlights:
Potential for meaningful gold mineralization along the entire 2.2 km long contact for which the majority of historic drill holes did not test;
Gold (“Au”) mineralized horizon of 25 m (true thickness) returning 0.59 grams per tonne (“g/t”) Au from 132.60 m below surface, including 1.52 m of 5.52 g/t Au. This horizon is 60 m wide and 110 m length (down-dip) and open in all directions;
The contact represents an excellent exploration target for replacement style gold mineralization, and possibly higher-grade vein hosted gold; and
The upcoming 2022 drill program will test for additional gold mineralization along this prospective horizon.
“Our systematic approach to reviewing and validating the historic data is continuing to deliver significant value” Apollo CEO, Tom Peregoodoff, commented. “We were aware of this historic gold production at the Burcham mine, however it is only recently and through this detailed review that we have come to understand the nature and extent of the host unit, and the potential for a significant gold discovery at Waterloo. This presents an exciting opportunity in that it substantially adds to the exploration potential of the properties and testing of this prospective horizon will form part of our upcoming 2022 drill program. With our pending maiden silver resource declaration for Waterloo and Langtry on track, 2022 is shaping up to be a very exciting year for Apollo.”
Gold Mineralization at Calico
Apollo’s Waterloo project hosts the Burcham mine, the only mine in the Calico Mining District known to produce gold as its primary commodity (refer to Figure 1). Gold was produced from two NW-oriented veins via underground drifts. Gold is hosted in veins varying from 0.3 up to 3 m wide and occurs as replacement style mineralization, with both the Barstow and the Pickhandle volcaniclastics formations hosting disseminated gold in zones up to 9 m wide. Gold was reported to be associated with chalcopyrite, galena, sphalerite and silver chloride, all hosted in a gangue of quartz, barite and iron oxides. There are no known production numbers from this mine, but historic public articles report grades of up to 0.31 ounces per ton (9.7 g/t).
Historic Mining and Exploration for Gold at Calico
ASARCO undertook a number of work programs to better understand gold mineralization in the Burcham area between 1985 and 1989. These included 10 shallow air track holes (188 m total, maximum depth of 29.30 m), three diamond drill holes (335.30 m total, maximum depth of 137.60 m) and underground chip/channel sampling (96 samples, 3-6 m lengths, ~5 kilograms each) from accessible underground workings. A selection of results of gold mineralized intersections from this drilling are shown in Table 1. Results from the underground chip sampling revealed a maximum of 2.01 g/t Au (average 0.63 g/t Au) in the Pickhandle volcaniclastics (12 samples) and a maximum of 4.44 g/t Au (average 0.44 g/t Au) in the Barstow sediments (84 samples). Importantly, this is the only work program completed by Asarco that included assaying for gold.
Between 2008 and 2012, Pan American Minerals, a wholly owned subsidiary of Pan American Silver Corp. (“Pan American”), completed exploration programs comprising surface geological mapping and drilling. Six reverse circulation holes completed by Pan American show a transition from silver-dominated mineralization to gold-dominated mineralization towards the SW-dipping, unconformable and variably faulted contact between the Barstow and Pickhandle formations. This gold-dominated horizon is up to 25 m thick (true thickness), 60 metres wide, 110 m long and is open in all directions (refer to Figure 2), as identified in drill hole W-0054, which intersected 0.59 g/t Au from 132.60 m downhole, including 7.62 m of 1.44 g/t and 1.52 m of 5.52 g/t Au.
Geological mapping completed by Dr. Warren Pratt in 2008 (for Pan American) identified hydrothermal mineralization along the entire 2.2 km length of the contact on the Waterloo property. Some areas were intensely altered to an acid-sulfate assemblage of kaolinite, alunite and cristobalite, particularly in the volcaniclastics. Acid sulphate type leaching is widespread at surface at the contact in both the Barstow and Pickhandle formations, and the contact appears to be variably mineralized for at least half its length, as hematite, jarosite, goethite, quartz and copper oxides were observed. Historic mining at both the Burcham and Waterloo mines exploited this contact.
Conclusions – Gold Exploration Potential
Apollo’s analysis of historic Pan American and ASARCO data has concluded that not only does gold mineralization extend beyond the Burcham mine area, there is evidence to suggest that the entire 2.2. km long contact between the Barstow sediments and Pickhandle volcaniclastics is prospective for gold. Historic work by ASARCO demonstrated that the Barstow formation and a wide halo in the Pickhandle volcaniclastics in the Burcham area are mineralized with disseminated gold. Spatial distribution and both Pan American and ASARCO drill log data suggest this is a replacement style mineralized zone preferentially formed along the contact between the Barstow and Pickhandle formation, with the Pickhandle volcaniclastics being the preferential gold host. Shallow drilling by ASARCO and evidence from geologic mapping completed by Pan American suggest this mineralization extends to surface. All gold mineralization occurred in oxidized rock.
Of the 277 drill holes in Apollo’s Waterloo database, only 18 definitively pierce the contact and have gold assays (see Figure 1). Thirteen of these holes are mineralized (i.e., +0.2 g/t Au). Of note is that many of the holes that pierce the contact do not fully test the adjacent volcaniclastics.
The current focus of the review has been on the Waterloo project. The gold potential at the adjacent Langtry property remains poorly constrained and work is ongoing to better assess this potential.
Testing of the gold prospective horizon will form part of the upcoming 2022 drilling program.
Figure 1 is available at globenewswire.com
Figure 2 is available at globenewswire.com
Table 1: Selection of gold intercepts from historic drilling at the Waterloo project.
Operator &
Location
| Drill Hole
| From
(m)
| To (m)
| Intercept
(m)
| Au Grade
(g/t)
| Ag Grade
(g/t)
| Au gram-
metres
| ASARCO
(1981)
Burcham Area
Drilling
| BR-1**
| 0
| 27.43
| 27.43
| 0.77
| n/a
| 21.12
| including
| 0
| 7.32
| 7.32
| 1.30
| n/a
| 9.52
| BD-1*
| 24.38
| 40.54
| 16.16
| 0.691
| 0.89
| 11.17
| including
| 24.38
| 27.43
| 3.05
| 1.206
| 0.79
| 3.68
| BD-2*
| 30.33
| 37.19
| 6.86
| 1.096
| 0.34
| 7.52
| including
| 30.33
| 34.9
| 4.57
| 1.539
| 0.43
| 7.03
| BR-9**
| 3.66
| 7.32
| 3.66
| 1.89
| n/a
| 6.92
| BD-2*
| 58.06
| 69.80
| 11.74
| 0.343
| 0.50
| 4.03
| including
| 72.54
| 80.47
| 7.93
| 0.372
| 1.82
| 2.95
| Pan American
(2012)
Hilltop
Area Drilling
| W-0054**
| 132.58
| 163.07
| 30.49
| 0.59
| 9.10
| 17.99
| including
| 135.64
| 143.26
| 7.62
| 1.444
| 4.30
| 11.00
| including
| 140.21
| 141.73
| 1.52
| 5.520
| 5.30
| 8.39
| W-0046**
| 112.78
| 126.49
| 13.71
| 0.76
| 17.13
| 10.42
| including
| 117.35
| 121.92
| 4.57
| 1.692
| 14.58
| 7.73
| W-0049**
| 86.87
| 100.58
| 13.71
| 0.340
| 42.63
| 4.66
| W-0-S-12001**
| 0
| 2
| 2
| 1.975
| 34.00
| 3.95
|
*Diamond Drill hole **Reverse circulation or air track hole. Assay data is shown as recorded by operators.
Qualified Person
The scientific and technical data contained in this news release was reviewed and approved under the supervision of Cathy Fitzgerald, P.Geo., Vice President Exploration and Resource Development, a Qualified Person as defined by National Instrument 43- 101 Standards of Disclosure for Minerals Projects. Ms. Fitzgerald is a registered Professional Geoscientist in British Columbia, Canada.
For further information about the Waterloo project please see the 2021 N.I. 43-101 technical report “NI 43-101 Technical Report Waterloo Project, California, USA” with an effective date of May 12, 2021; and for further information about the Langtry project please see the 2021 N.I. 43-101 technical report “NI 43-101 Technical Report Langtry Project, California, USA” with an effective date of December 1, 2021. Both reports were prepared by H. Samari and L. Breckenridge of Global Resource Engineering, Ltd.
Please visit www.apollosilver.com for further information.
ON BEHALF OF THE BOARD OF DIRECTORS
Tom Peregoodoff
Chief Executive Officer
For further information, please contact:
Tom Peregoodoff
Chief Executive Officer
Telephone: +1 (604) 428-6128
tomp@apollosilver.com
About Apollo Silver Corp.
Apollo Silver Corp. has assembled an experienced and technically strong leadership team who have joined to advance world class precious metals projects in tier-one jurisdictions. The Company is focused on advancing its portfolio of three significant pure silver exploration and resource development projects, the historical Waterloo and Langtry projects, in San Bernardino California and Silver District Project in Arizona.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding “Forward-Looking” Information
This news release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the potential of the Company’s properties; the potential for a significant gold discovery at Waterloo; the timing and completion of the anticipated maiden declaration of resource estimates at the Company’s silver-barite projects; the evaluation of the quality of the historical data collection, historical estimates, geological models, drilling and assay data, data sets prepared by and acquired from previous operators; timing and cost of future exploration, drilling, metallurgical testing and geophysical program plans and targets; success of exploration activities; the estimation of mineral resources; and conclusions of economic evaluations. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “potential”, “target”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof.
Forward-looking statements are based on the reasonable assumptions, estimates, analysis and opinions of the management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made. Forward-looking information is inherently subject to known and unknown risks, significant operational, economic, and competitive uncertainties, contingencies and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to the Company’s goal of creating shareholder value by concentrating on the development of the Waterloo project, the Langtry project, or the AZ Silver District project (the “Properties”); believing that the Properties have the potential to contain economic silver deposits; the Company’s assessment of future plans for the Properties; managements’ economic outlook regarding future trends; the Company’s exploration budget for the Properties; and in particular, the availability of equipment, skilled labour and services needed, timing and the amount of the expected budget; the Company’s ability to meet its working capital needs at the current level in the short term; expectations with respect to raising capital; sensitivity analysis on financial instruments may vary from the amounts disclosed; government regulation and environmental liability; relations with local stakeholders and the surrounding communities; general business and economic conditions; the timing and receipt of governmental permits and approvals; the timing and receipt of community and landowner approvals; changes in regulations; political factors; the accuracy of the Company’s interpretation of drill results; the geology, grade and continuity of the Company’s mineral deposits; currency fluctuations; and impact of the COVID-19 pandemic.
There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include actual exploration results, interpretation of exploration results, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, unknown impact related to potential business disruptions stemming from the COVID-19 pandemic, or another infectious illness, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those discussed or referred to in the Company’s continuous disclosure filings with the securities regulatory authorities in Canada, available at www.sedar.com.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking information, other factors could also cause materially different results. There can be no assurance that forward looking 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 information. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company’s expected financial and operational performance and the Company’s plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. |
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| To: LoneClone who wrote (162681) | 1/11/2022 1:08:30 PM | | From: LoneClone | | | | Silver Tiger Makes New Discovery Intersecting 7,807.7 G/T AgEq Over 0.6 Meters Within a Broader Interval of 5.1 Meters Grading 1,029.5 G/T AgEq
accesswire.com
Tuesday, January 11, 2022 7:00 AM
HALIFAX, NS / ACCESSWIRE / January 11, 2022 / Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) ("Silver Tiger" or the "Corporation") intersects 7,807.7 g/t AgEq over 0.6 meters within a broader interval of 5.1 meters grading 1,029.5 g/t AgEq in a new discovery of a mineralized zone in the black shale horizon between the Tiger Vein and the Seitz Kelly Vein. Post-Holiday shutdown, six drill rigs have resumed drilling at El Tigre.
Drill results are detailed in the table below:
 Notes: 1. Not true width.
- Silver Equivalent ("EqAg") ratios are based on a silverto gold price ratio of 75:1 (Au:Ag).Copper, lead and zinc are converted using $3.66/lb copper,$0.90/lb lead, $1.26/lbzinc at 100% metal recoveries based on a silver price of$26.00/oz.
Attached is Cross Section 5075N which includes Drill Hole ET-21-278 and the new discovery. A Plan Map of the SeitzKelly, Tiger and Sooy Veins with the New Discovery Zone is attached.
Silver Tiger's CEO, Glenn Jessome, stated, "The discovery of a potential new high grade silver-gold vein between the Tiger Vein and the Seitz Kelly Vein exhibiting wide high grade mineralization in the black shale further strengthens our hypothesis of the importance of this shale horizon." Mr. Jessome continued, "I am very pleased that our exploration team returned to the mountain quickly after the Holiday shutdown and that six drill rigs have already resumed drilling."
Seitz Kelly Vein and New Discovery Zone - Section 5075N (Drill Holes ET-21-278 and ET-21-271)
 Plan Map of the Seitz Kelly, Tiger and Sooy Veins with the New Discovery Zone
 Plan Map of 4.2 Kilometers of the El Tigre Veins and Drill Holes
 Drill Hole Location Table
 El Tigre Resource Estimate
After acquiring El Tigre, Silver Tiger drilled 12,500 meters to define the wide halo of near surface gold mineralization around the mined high-grade veins of the historic El Tigre Mine. This allowed Silver Tiger to delivera maiden resource estimate for the El TigreProperty to a depth of 150 meters containing indicated resources of 661,000 gold equivalent ounces at 0.77 g/t (21 g/t silver and 0.51 g/t gold) and inferred resources of 341,000 gold equivalent ounces at 1.59 g/t (88 g/t silver and 0.52 g/t gold). The National Instrument 43-101 Technical Report titled "NI 43-101 Technical Report and Updated Mineral Resource Estimate on the El Tigre Project,Sonora, México" effective as of September 7, 2017 and dated October26, 2017 prepared by David Burga, P.Geo., Yungang Wu, P.Geo., Fred Brown, P.Geo., Jarita Barry, P.Geo., EugenePuritch, P.Eng., FEC, CET, Alfred Hayden, P.Eng. and RichardH. Sutcliffe, Ph.D., P.Geo. of P&E Mining Consultants Inc. is available on the Corporation's website at www.silvertigermetals.com and on www.sedar.com under the Corporation's profile.
About the El Tigre Historic Mine District
Silver Tiger Metals Inc. is a Canadian company whose management has more than 25 years' experience discovering, financing and building large hydrothermal silver projects in Mexico. Silver Tiger's 100% owned 28,414 hectare Historic El Tigre Mining District is located in Sonora, Mexico. Principled environmental, social and governance practices are core priorities at Silver Tiger.
The El Tigre historic mine district is located in Sonora, Mexico and lies at the northern end of the Sierra Madresilver and gold belt whichhosts many epithermal silver and gold deposits, including Dolores, Santa Elena and Las Chispas at the northern end. In 1896, gold was first discovered on the property in the Gold Hill area and mining started with the Brown Shaft in 1903. The focus soon changed to mining high-grade silver veins in the area with production coming from 3 parallel veins the El Tigre Vein, the Seitz Kelley Vein and the Sooy Vein. Underground mining on the middle El Tigre vein extended 1,450 meters along strike and was mined on 14 levels to a depth of approximately 450 meters. The Seitz Kelley Vein was developed along strike for 1 kilometer to a depth of approximately 150 meters. The Sooy Vein was only mined along strike for 250 meters to a depth of approximately 150 meters. Mining abruptly stopped on all 3 of these veins when the price of silver collapsed to less than 20¢ per ounce with the onset of the Great Depression. By the time the mine closed in 1932, it is reported to have produced a total of 353,000 ounces of gold and 67.4 million ounces of silver from 1.87 million tons (Craig, 2012). The average grade mined during this period was approximately 2 kilograms silver equivalent per ton.
The El Tigre silver and gold deposit is related to a series of high-grade epithermal veins controlled by a north-south trending structure cutting across the andesitic and rhyolitic tuffs of the Sierra Madre Volcanic Complex within a broad silver and gold mineralized prophylitic alteration zone developed in the El Tigre Formation that can be up to 150 meters wide. The veins dip steeply to the west and are typically 0.5 meter wide but locally can be up to 5 meters in width. The veins, structures and mineralized zones outcrop on surface and have been traced for 5.3 kilometers along strike in our brownfield exploration area. Historical mining and exploration activities focused on a 1.6 kilometer portion of the southern end of the deposits, principally on the El Tigre, Seitz Kelly and Sooy veins. The under explored Caleigh,Benjamin, Protectora and the Fundadora exposed veins continue north for more than 3 kilometers. Silver Tiger has delivered its maiden 43-101 compliant resource estimate and is currently drilling to update its resource estimate and publish a PEA.
VRIFY Slide Deck and 3D Presentation - Silver Tiger's El Tigre Project
VRIFY is a platform being used by companies to communicate with investors using 360° virtual tours of remote mining assets, 3D models and interactive presentations. VRIFY can be accessed by website and with the VRIFY iOS and Android apps.
Access the Silver Tiger Metals Inc. Company Profile on VRIFY at: https://vrify.com
The VRIFY Slide Deck and 3D Presentation for Silver Tiger Metals Inc. can be viewed at: https://vrify.com/explore/decks/492 and on the Corporation's website at: www.silvertigermetals.com.
Procedure, Quality Assurance / Quality Control and Data Verification
The diamond drill core (HQ size) is geologically logged, photographed and marked for sampling. When the sample lengths are determined, the full core is sawn with a diamond blade core saw with one half of the core being bagged and taggedfor assay. The remaining half portion is returned to the core trays for storage and/or for metallurgical test work.
The sealed and tagged sample bags are transported to the Bureau Veritas facility in Hermosillo, Mexico. Bureau Veritas crushes the samples (Code PRP70-250) and prepares 200-300 gram pulp samples with ninety percent passing Tyler 200 mesh (Code PUL85). The pulps are assayed for gold using a 30-gram charge by fire assay (Code FA630) and over limits greater than 10 grams per tonne are re-assayed using a gravimetric finish (Code FA530). Silver and multi-element analysis is completed using total digestion (Code MA200 Total Digestion ICP). Over limits greater than 100 grams per tonne silver are re-assayed using a gravimetric finish (Code FA530).
Quality assurance and quality control ("QA/QC") procedures monitor the chain-of-custody of the samples and includes the systematic insertion and monitoring of appropriate reference materials (certified standards, blanks and duplicates) into the sample strings. The results of the assaying of the QA/QC material included in each batch are tracked to ensure the integrity of the assay data. All results stated in this announcement have passed Silver Tiger's QA/QC protocols.
Qualified Person
David R. Duncan, P. Geo., V.P. Exploration of the Corporation, is the Qualified Person for Silver Tiger as defined under National Instrument 43-101. Mr. Duncan has reviewed and approved the scientific and technical information in this press release.
For further information, please contact:
Glenn Jessome President and CEO
902 492 0298
jessome@silvertigermetals.com
CAUTIONARY STATEMENT:
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.
This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, the ability to convert inferred resources to indicated resources, the ability to complete future drilling programs and infill sampling, the ability to extend resource blocks, the similarity of mineralization at El Tigre to Delores, Santa Elena and Chispas,exploration results, and future plans and objectives of Silver Tiger, are forward-looking statements that involve various risks and uncertainties. Forward-looking statements are frequently characterized by words such as "may", "is expected to", "anticipates", "estimates", "intends", "plans", "projection", "could", "vision", "goals", "objective" and "outlook" and other similar words. Although Silver Tiger believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from SilverTiger's expectations include risks and uncertainties related to exploration, development, operations, commodity prices and global financial volatility, risk and uncertainties of operating in a foreign jurisdiction as well as additional risks described from time to time in the filings made by Silver Tiger with securities regulators.
SOURCE: Silver Tiger Metals Inc.
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