| To: LoneClone who wrote (162740) | 1/13/2022 12:22:19 PM | | From: LoneClone | | | | Romios Acquires Significant Gold-Silver-Copper Prospects in Nevada
newsfilecorp.com
Toronto, Ontario--(Newsfile Corp. - January 12, 2022) - Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to report that it has acquired 109 claims over numerous historic gold-silver-copper prospects in the Kinkaid area of Mineral County, Nevada. The Kinkaid claims are 18 km east of the town of Hawthorne and largely accessible by road.
"International focus on Nevada as one of the world's leading gold districts continues, and plans are underway at Romios to develop a significant offering for this investor market and our shareholders," stated Stephen Burega, President. "This property bolsters our existing asset base which includes the former producing Scossa mine ( see Press Release November 11, 2020) where high-grade intercepts of 10.6 oz/t Au over 1.8 m, 8.6 oz/t Au over 2 m and 2.0 oz/t Au over 1.5 m were returned (drilled widths)."
Burega continued, "The geological units found at Kinkaid host a variety of mineral showings with historic workings including the Montreal Ag-Au mine workings, several skarn deposits that were reportedly mined for gold and/or tungsten prior to the mid-1940s, and numerous copper-rich zones of unknown extent that do not appear to have been fully evaluated in the past."
Property Highlights:
The claim block is underlain largely by north-trending Late Triassic to Early Cretaceous shale, sandstone and volcanic rocks plus younger Oligocene-Miocene felsic volcanics on the west side and limestone and granitic intrusions on the northern claims.These diverse geological units host an impressive variety of mineral showings that appear to have potential well beyond the historic workings, including Au-Ag vein systems up to 500 m long at the old Montreal mine sites, several gold-tungsten skarn horizons that extend much farther than the historic workings, numerous high-grade copper zones that are largely unexplored, and a possible VMS style copper-barite horizon that apparently has not been explored as such.6 major prospects have been identified to date, and several other unnamed prospects occur throughout the claims, often with underground workings and substantial dumps of mined material visibly mineralized with copper, silver, lead, barite, etc. (see descriptions below).Sampling by the former claim holder, High Desert Gold Corp., in 2008 returned multiple assays between 6 g/t Au and 17 g/t Au from chip and composite grab samples from several dumps and pits along the NW Montreal Gold-Silver Mine vein system (Romios has not verified these results as our sample results are still pending).The Montreal Silver Mine (on a single claim held by a 3rd party) with its >3 km of underground workings is within the same rock units and is surrounded by, but not included in, the Romios claims (see map below).The claims form a roughly N-S rectangular block 5 km N-S x 1.3-2.6 km E-W and covers approximately 911.2 Hectares (2,252 acres) consisting of 87 claims staked by Romios and 22 claims acquired pursuant to a Vending Agreement with two individuals.
Vending Agreement Highlights:
Romios has agreed to acquire 22 Lode claims in consideration for $10,000 USD and 300,000 shares of Romios. The 300,000 shares will be subject to a 4 month and 1 day resale restriction when issued. The Vendors will retain a 2% Net Smelter Return Royalty (NSR) on the entire amalgamated claim block comprising the 109 claims.At any time, the Company has the right to purchase from the Vendors a 1% NSR for $500,000 USD leaving the Vendors with a 1% NSR on the entire property. The Company also retains a right of first refusal (ROFR) on the same terms as the Vendors are prepared to sell the ROFR Interest pursuant to a bona fide offer from a third party.
"We spent four days on the ground in November 2021, mapping and sampling many of the old workings and assays are pending at this time," stated John Biczok, VP of Exploration. "I believe that the true potential of many of the historic prospects has not been recognized as many of them have not been explored since the 1920s-1940s - when metal prices were much lower. The impressive surface showings lead me to believe that the property holds significant potential for mineralization across various geological units."
He continued, "We are very excited to have acquired such a large land package in a mining friendly jurisdiction like Nevada, a block of claims that covers literally dozens of old showings and mine workings of varying deposit types, most of which have not been worked for decades in spite of being largely accessible by road. We believe that basic tools like detailed geological mapping and ground geophysical surveys will yield significant drill targets."
Background on Kinkaid Claims
Descriptions of the major prospects below are taken from the USGS database supplemented with information from Romios' field examination.
Major Prospects on the Kinkaid Claims:
NW Montreal Gold-Silver Mine workings: Located ~250m NW of and parallel to the main Montreal Silver mine along a series of veins stretching over at least 500 m. Numerous underground workings, mine dumps and pits occur along the veins (Photos 1, 2, 3), apparently not worked since the 1940's. The veins are typically developed along the contacts of felsic dykes with the local sediments in strong alteration/fault zones up to 7 m wide in outcrop (Photo 3). Sampling by High Desert Gold Corp. in 2008 returned multiple assays between 6 g/t Au and 17 g/t Au from chip and composite grab samples from several dumps and pits along this vein system (Romios has not verified these results as our sample results are still pending).
Map 1: Romios' Kinkaid claims and mineralized prospects
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Dry Gulch Gold-Tungsten Prospect: Small shafts, adits and pits along a garnet skarn horizon at least 200 m long, reportedly mined for tungsten and gold pre-WWII (Photo 4). The host limestone is exposed for a width of at least 4 m and trends off under thin cover towards a nearby granitic pluton providing an excellent target for larger skarn bodies at the granitic contact.
The PM Gold Skarn Prospect: Located in the northernmost claims, this is another coarse-grained garnetiferous skarn horizon mined from several adits and shafts, likely pre-WWII. Exposures of the skarn >4 m wide were observed over a length of at least 50 m and are believed to continue for >200 m. Limestone exposures are extensive in this area and appear to be cut by granitic intrusions nearby under thin cover, providing additional large untested targets. Several nearby adits and pits developed on quartz veins were reportedly mined for gold.
Copper-Barite Horizon: An intriguing prospect on the southern claims that was apparently mined for barite in the past with workings and restored dumps stretching over a length of ~150 m. A thin (~30 cm?) layer of massive barite riddled with secondary copper minerals and minor sulphides is exposed in one of the trenches and a nearby stockpile (Photo 5). The nearest outcrops appear to be felsic volcanics. The association of copper-barite zones with felsic volcanics is suggestive of a Kuroko-style massive sulphide deposit with potential for thicker zones of high-grade mineralization over a central core nearby. There is no indication that any exploration for this type of deposit has been conducted in the area.
Thrust Fault Target: This target is based on the premise that the older sedimentary and volcanic rocks are thrust over the limestones exposed to the north, and that the near vertical mineralized structures, such as the Montreal Mine veins, would have intersected this shallow-dipping fault and potentially spread mineralization laterally along it, much like the setting of the Isabella-Pearl mine 16 km to the SE. This model is easily testable with a series of short drill holes.
Bismark Mine Area: Two unnamed and undocumented high-grade copper prospects were found near the old Bismark aluminosilicate workings. Both prospects consist of high-grade chrysocolla, one in a series of trenches and one as mineralized boulders in gravel beds eroded from an unknown, presumably nearby source (Photo 6).
Numerous other old mine workings and prospects occur on the property and have not been examined by Romios personnel as yet, including the Silver King Mine, a small underground mine 1.1 km SE of the Montreal Mines with similar geology that was worked in the 1920's; its size potential is unknown at this point.
Photo 1: View of the old mine workings on the NW Montreal Mine Vein System
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Photo 2 (left): Open stopes along the NW Montreal veins, southern end. Photo 3 (right): Highly altered, mineralized zone at the NW Montreal mine site. One of many such workings.
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Photo 4: Old mine workings at the Dry Gulch Gold-Tungsten prospect
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Photo 5 (left): Massive copper-rich barite zone. Photo 6: (right) Copper rich, chrysocolla stained boulders from unnamed prospect
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2022 Exploration Plans
Romios plans to undertake a program of detailed geological mapping and sampling across the Kinkaid property in the spring of 2022 with emphasis on the numerous mineralized showings. Ground magnetic surveys are expected to be particularly useful in tracing the skarn horizons under cover. Diamond drilling of several showings and the thrust fault target are anticipated.
Qualified Person
The technical information in this news release has been reviewed and approved by John Biczok, P. Geo., VP-Exploration for Romios Gold and a Qualified Person as defined by National Instrument 43-101. In addition to his extensive experience with several major mining companies exploring for a wide variety of ore deposit types across Canada and India, Mr. Biczok spent 12 years conducting exploration and research at the Musselwhite gold mine in NW Ontario.
About Romios Gold Resources Inc.
Romios Gold Resources Inc. is a progressive Canadian mineral exploration company engaged in precious- and base-metal exploration, focused primarily on gold, copper and silver. It has a 100% interest in the Lundmark-Akow Lake gold-copper property in northwestern Ontario and extensive claim holdings covering several significant porphyry copper-gold prospects in the "Golden Triangle" of British Columbia. Additional interests include two former producers, the La Corne molybdenum mine property (Quebec) and a former high-grade gold producer, the Scossa mine property (Nevada). The Company also retains an ongoing interest in several properties including a 20% carried interest in five claim blocks in the Thunder Bay silver district of northwestern Ontario and a 2% NSR on the Hislop gold property in Ontario.
For more information, visit www. romios.com.
This News Release contains forward-looking statements which are typically preceded by, followed by or include the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward-looking statements and shareholders are cautioned not to put undue reliance on such statements. TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) do not accept responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Stephen Burega, President - 647-515-3734 or sburega@romios.com
John Biczok, P. Geo., VP of Exploration - 613-410-7877 or jbiczok@romios.com |
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| To: LoneClone who wrote (162741) | 1/13/2022 12:24:14 PM | | From: LoneClone | | | | Bunker Hill Announces Closing of Mine Purchase and $8 Million Royalty Convertible Debenture
ca.finance.yahoo.com
Bunker Hill Mining Corporation
Mon., January 10, 2022, 4:00 a.m.·2 min read
TORONTO, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR, OTCQB: BHLL) is pleased to announce the closing of the previously announced purchase of the Bunker Hill Mine and $8 million Royalty Convertible Debenture with Sprott Private Resource Streaming & Royalty Corp (“SRSR” or “Sprott”).
Sam Ash, CEO stated “Ownership of the Bunker Hill Mine is an immense source of pride for our stakeholders and a major milestone on our journey towards its rapid restart. I would like to thank our funding partners at Sprott for working diligently with us over the last couple of weeks to close this first $8 million tranche of the $50 million financing package. We look forward to closing the $5 million Convertible Debenture over the coming days and to an exciting 2022 full of value-creating catalysts for our investors.”
Following the approval of the transaction by Placer Mining Corp. shareholders and satisfaction of other closing conditions, the purchase of the mine closed on Friday, January 7th. Concurrently, definitive documentation and all closing conditions were met for the $8 million Royalty Convertible Debenture. As announced in the company’s news release on December 20, 2021, the Royalty Convertible Debenture funds the purchase of the Bunker Hill Mine, a $2 million payment to the EPA, and near-term working capital requirements until closing of the $5 million Convertible Debenture.
The Royalty Convertible Debenture is currently secured by a share pledge of the Company’s operating subsidiary, while a full security package is put in place that will also enable funding of the $5 million Convertible Debenture, as announced on December 20, 2021. Definitive documentation for the Convertible Debenture is being advanced, concurrent with the full security package.
ABOUT BUNKER HILL MINING CORP.
Under new Idaho-based leadership the Bunker Hill Mining Corp, intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating a portfolio of North American precious-metal assets with a focus on silver. Information about the Company is available on its website, www.bunkerhillmining.com, or within the SEDAR and EDGAR databases.
For additional information contact:
David Wiens, CFA
CFO & Corporate Secretary
+1 208 370 3665
ir@bunkerhillmining.com
Cautionary Statements
Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, as well as within the meaning of the phrase ‘forward-looking information’ in the Canadian Securities Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information.
Forward looking information in this news release includes, but is not limited to, the Company’s intentions regarding: its objectives, goals or future plans and statements; closing the financing package as described herein with SRSR; and the financing package with SRSR being sufficient for the purposes described herein. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: the ability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains; failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; the Company’s ability to restart and develop the Bunker Hill Mine and the risks of not basing a production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, resulting in increased uncertainty due to multiple technical and economic risks of failure which are associated with this production decision including, among others, areas that are analyzed in more detail in a feasibility study, such as applying economic analysis to resources and reserves, more detailed metallurgy and a number of specialized studies in areas such as mining and recovery methods, market analysis, and environmental and community impacts and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit with no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved; failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations; failure to achieve the anticipated production costs would have a material adverse impact on the Company's cash flow and future profitability; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; changes in equity markets; uncertainties relating to the availability and costs of financing needed in the future; the inability of the Company to budget and manage its liquidity in light of the failure to obtain additional financing; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources
This press release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all resource and reserve estimates included in this press release have been disclosed in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian disclosure standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (“SEC”), and resource and reserve information contained in this press release may not be comparable to similar information disclosed by U.S. companies. In particular, and without limiting the generality of the foregoing, the term “resource” does not equate to the term “reserves”. Under U.S. standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. The SEC’s disclosure standards normally do not permit the inclusion of information concerning “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources” or other descriptions of the amount of mineralization in mineral deposits that do not constitute “reserves” by U.S. standards in documents filed with the SEC. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. U.S. investors should also understand that “inferred mineral resources” have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an “inferred mineral resource” will ever be upgraded to a higher category. Investors are cautioned not to assume that all or any part of an “inferred mineral resource” exists or is economically or legally mineable. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in-place tonnage and grade without reference to unit measures. The requirements of NI 43-101 for disclosure of “reserves” are also not the same as those of the SEC, and reserves disclosed by the Company in accordance with NI 43-101 may not qualify as “reserves” under SEC standards. Accordingly, information concerning mineral deposits contained in our website may not be comparable with information made public by companies that report in accordance with U.S. standards. |
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| To: LoneClone who wrote (162742) | 1/13/2022 12:26:50 PM | | From: LoneClone | | | | Amex Reports on Regional Exploration Program including Four New Gold Zones
newsfilecorp.com
Highlights include:
E2 GOLD ZONE (new zone)PEX-20-034 returned 5.58 g/t Au over 13.85 m including 136.02 g/t Au over 0.55 mPEX-21-066 returned 4.54 g/t Au over 8.45 mGOLD-COPPER DONNA ZONE (new zone)PE-21-318W1 returned 1.37 g/t Au and 0.25 % Cu over 56.00 m including 3.59 g/t Au and 0.72 % Cu over 14.70 mPE-21-318 returned 0.79 g/t Au and 0.24 % Cu over 29.15 mPE-21-318W2 returned 0.89 g/t Au and 0.20% Cu over 16.00 mE3 GOLD ZONE (new zone)PEX-20-003 returned 0.75 g/t Au over 33.80 mUPPER HIGH GRADE ZONE (new zone)PE-20-207W1 returned 18.79 g/t Au over 1.05 mPE-20-190 returned 1.01 g/t Au over 17.20 mPE-20-186A returned 4.08 g/t Au over 3.50 m210 GOLD ZONE (follow-up drilling)PE-20-229 returned 1.12 g/t Au over 19.50 mPE-21-280 returned 2.39 g/t Au over 9.00 mPE-21-301 returned 0.82 g/t Au over 15.00 mALIZEE GOLD ZONE (follow-up drilling)PEX-21-049 returned 7.62 g/t Au over 2.15 mWESTERN PERRON (regional exploration drilling)PEX-21-054 returned 3.18 g/t Au over 4.50 mPEX-21-065 returned 2.56 g/t Au over 3.30 mPEX-21-011 returned 3.09 g/t Au over 1.70 m
Montreal, Quebec--(Newsfile Corp. - January 11, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce a total of 58 drill holes focused on new areas of gold mineralization on the Perron project ("Perron" or the "Project"). See Figure 1 for a plan view of the geology of Perron and all currently known mineralized zones.
Today's results are focused on a number of new discoveries of gold and copper as well as follow-up drilling on the previously announced 210 (February 17, 2021) and Alizee (January 25, 2021) Gold Zones. These results represent regional exploration drilling as well as mineralization identified up-hole during definition and expansion drilling of known gold zones on the Perron Project. A complete list of results is available in Tables 1 through 7 and presented in Figures 1 through 4. All drilling data for the Perron project, including collar, survey, and individual assays, is available in the Amex data room at newsfilecorp.com. In addition to the results presented below, Amex also announces that drilling has resumed on January 3rd with 8 drills currently operating across the Project with plans to expand to up to 11 drills during the winter months.
Jacques Trottier, PhD, Executive Chairman of Amex Exploration, commented, "The Perron project has historically shown a strong gold signature within the Beaupre Rhyolite Block. The results presented today further validate the gold potential of the entire Beaupre area and we are seeing gold mineralization occurring in a variety of orientation and mineralization styles. This further confirms our expectations that as we continue to advance our exploration of this strongly endowed gold system, we will continue to make additional gold discoveries and expand upon the known mineralized horizons."
Trottier continued, "The E2 Gold zone is of great significance for Amex as it has the potential to add ounces per vertical metre in close proximity to the High Grade Zone. As we have seen at the High Grade Zone we are hopeful that the strike and grade will increase at E2 as we get deeper into the system. Our regional exploration program has been a complete success by any measure and the areas highlighted in this release all warrant follow-up work."
Figure 1: Plan view of the geology of the Perron Project and all known mineralized zones, including the new zones announced today in red text.
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E2 Gold Zone
The E2 Gold zone ("E2") represents one of the most significant new discoveries on the Perron Project since the discovery of the High Grade Zone ("HGZ") in 2018 (Figure 2). The E2 zone was discovered by stepping out to the East along the same structure that hosts the bonanza mineralization of the HGZ. Mineralization identified to date is very similar to the HGZ, with a repetition of a mineralized hanging wall vein, a largely unmineralized narrow mafic sill, and a mineralized footwall vein. Sulfide minerals are also very similar, with sphalerite being the most common sulfide associated with gold mineralization, along with lesser pyrite. Visible gold has been identified in several drillholes. Of particular importance is the projected plunge of the mineralization. The E2 zone is situated approximately 500 metres to the East of the HGZ, and the projected plunge of mineralization (based on drillholes to date) appears to be similar to that of the HGZ, plunging to the East-Northeast at approximately ~70 degrees (Figure 3). This is important as it represents a possible repeating ore shoot along the same structure as the HGZ. Expanding upon the E2 zone and testing its down-plunge grade and continuity is one of Amex's top priorities for the ongoing winter drilling program.
Figure 2: Plan view of the geology of the Eastern Gold Zone to E3 Gold Zone and all known mineralized zones, including the new zones announced today.
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Figure 3: Longitudinal section of the HGZ and E2 Gold Zone, with today's released hole locations in green labelled on the longitudinal. Assay results are presented in core length (m). True width is approximately 70-80% of reported intercepts. Metal factor is defined as gold grade multiplied by core length.
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Table 1: Assay results from the new E2 Gold Zone at Perron
| Zone | Hole | From (m) | To (m) | Length (m) | Au (g/t) | Gold Metal Factor (g/t*m) | | E2 | PEX-20-034 | 150.00 | 163.85 | 13.85 | 5.58 | 77.28 | | including | 151.40 | 151.95 | 0.55 | 136.02 | 74.81 | | PEX-21-066 | 226.25 | 234.70 | 8.45 | 4.54 | 38.34 | | including | 228.30 | 228.80 | 0.50 | 70.00 | 35.00 | | and | 97.50 | 98.00 | 0.50 | 23.30 | 11.65 | | PEX-21-062 | 295.45 | 297.55 | 2.10 | 5.08 | 10.67 | | PEX-21-078 | 79.50 | 80.20 | 0.70 | 12.30 | 8.61 | | PEX-21-061 | 148.50 | 157.30 | 8.80 | 0.77 | 6.81 | | PEX-21-077 | 86.90 | 91.00 | 4.10 | 1.21 | 4.96 | | PEX-21-079 | 56.95 | 58.40 | 1.45 | 3.38 | 4.90 | | PEX-20-032 | 177.25 | 178.30 | 1.05 | 4.34 | 4.55 | | PEX-20-031 | 169.40 | 169.90 | 0.50 | 5.01 | 2.51 | | PEX-20-035 | 205.80 | 206.80 | 1.00 | 1.44 | 1.44 |
*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.
Gold-Copper Donna Zone
The Gold-Copper Donna Zone ("Donna") discovery occurs immediately north of the HGZ at depth (Figure 2). It was discovered during deep expansion drilling of the HGZ. The mineralization identified, which is similar in each of the three holes reported, consists of highly chlorite-garnet-amphibole altered rhyolite which hosts centimetre-scale stringers of chalcopyrite-pyrrhotite. The correlation between gold and copper is quite strong. Amex has completed a borehole electromagnetic survey on this new discovery and is planning follow-up drilling to be completed in the coming months.
Table 2: Assay results from the new Gold-Copper Donna Zone at Perron
| Zone | Hole | From (m) | To (m) | Length (m) | Au (g/t) | Cu (%) | Gold Metal Factor (g/t*m) | | Donna | PE-21-318W1 | 1123.00 | 1179.00 | 56.00 | 1.37 | 0.25 | 76.72 | | including | 1141.50 | 1156.20 | 14.70 | 3.59 | 0.72 | 48.76 | | PE-21-318 | 1164.50 | 1193.70 | 29.15 | 0.79 | 0.24 | 23.03 | | PE-21-318W2 | 1153.50 | 1169.50 | 16.00 | 0.89 | 0.20 | 14.24 |
*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.
Alizee Gold Zone
The Alizee Gold Zone ("Alizee") was previously announced as a discovery by Amex on January 25, 2021 with hole PEX-21-041 returning 22.44 g/t Au over 7.30 m. The results below are from follow-up drilling on the discovery hole (Figure 1). Gold mineralization at Alizee is associated with quartz veining, quartz-carbonate breccias, silica flooding and strong chlorite-carbonates-biotite alterations, along with sphalerite, pyrite, trace chalcopyrite, and occasionally visible gold. Amex is reviewing the data and planning follow-up drilling to be completed in the coming months.
Table 3: Assay results from follow-up drilling of the Alizee Zone at Perron
| Zone | Hole | From (m) | To (m) | Length (m) | Au (g/t) | Gold Metal Factor (g/t*m) | | Alizee | PEX-21-049 | 180.85 | 183.50 | 2.15 | 7.62 | 16.38 | | PEX-21-045 | 286.00 | 287.50 | 1.50 | 2.05 | 3.08 | | PEX-21-040 | 319.00 | 319.60 | 0.60 | 1.71 | 1.03 |
*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.
E3 Gold Zone
The E3 Gold Zone ("E3") was discovered during regional drilling to the East of the HGZ, similar to the E2 zone (Figure 1). Amex completed systematic step out drilling along the structural corridor that hosts the Eastern Gold Zone which resulted in the discovery of the E3 zone, which is approximately 800 metres east of the HGZ (Figure 2). Gold mineralization is typical to that of Perron. Gold is hosted within quartz veins and veinlets in the altered Beaupre rhyolite, and associated with red sphalerite and pyrite mineralization.
Table 4: Assay results from the new E3 Gold Zone at Perron
| Zone | Hole | From (m) | To (m) | Length (m) | Au (g/t) | Gold Metal Factor (g/t*m) | | E3 | PEX-20-003 | 76.00 | 109.80 | 33.80 | 0.75 | 25.35 | | including | 108.30 | 109.80 | 1.50 | 12.51 | 18.77 | | PEX-20-024 | 176.00 | 176.50 | 0.50 | 10.47 | 5.24 |
*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.
210 Gold Zone
The 210 Gold Zone ("210") is located proximal to and south of the northern Normetal fault zone, which is one of two kilometric thrust faults located on the Perron project (Figures 1 and 2). The 210 zone was originally announced as a discovery on February 17, 2017 with hole PE-20-210 returning 58.25 g/t Au over 3.90 m. The below announced holes represent follow-up drilling to this discovery hole. The identified mineralization is located approximately 650 m north-east of the HGZ in an area that has seen limited exploration. Conveniently, Amex is able to test the near-surface portion of the 210 zone during deep definition drilling of the HGZ owing to its location. Gold mineralization is hosted within quartz veining in sodic rhyolite of the Beaupre Block.
Table 5: Assay results from follow-up drilling of the 210 Gold Zone at Perron
| Zone | Hole | From (m) | To (m) | Length (m) | Au (g/t) | Gold Metal Factor (g/t*m) | | 210 | PE-20-229 | 95.90 | 115.40 | 19.50 | 1.12 | 21.84 | | including | 95.90 | 96.65 | 0.75 | 12.13 | 9.10 | | PE-21-280 | 88.50 | 97.50 | 9.00 | 2.39 | 21.51 | | including | 96.25 | 97.50 | 1.25 | 14.28 | 17.85 | | PE-21-301 | 69.00 | 84.00 | 15.00 | 0.82 | 12.30 | | PE-21-272A | 67.15 | 67.65 | 0.50 | 18.45 | 9.23 | | PE-20-219 | 106.50 | 108.00 | 1.50 | 4.29 | 6.44 |
*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.
Upper High Grade Zone
The Upper High Grade Zone ("UHGZ") is situated approximately 200 metres north of the HGZ (Figures 2 and 4). Of interest is the orientation of the UHGZ, which trends to the West-Northwest, at an angle of approximately 30 degrees away from the orientation of the HGZ. The UHGZ is often hosted by or proximal to a swarm of narrow mafic sills/dikes, and mineralization is associated with quartz veining, pyrrhotite, pyrite, sphalerite, and visible gold mineralization. Owing to its location and proximity to the HGZ, Amex is able to continue testing the UHGZ through its definition and expansion drilling program on the HGZ.
Figure 4: Longitudinal section of the Upper HGZ, with today's released hole locations in green labelled on the longitudinal. Assay results are presented in core length (m). True width is approximately 65-80% of reported intercepts. Metal factor is defined as gold grade multiplied by core length.
To view an enhanced version of Figure 4, please visit:
orders.newsfilecorp.com
Table 6: Assay results from the new Upper High Grade Gold Zone at Perron
| Zone | Hole | From (m) | To (m) | Length (m) | Au (g/t) | Gold Metal Factor (g/t*m) | | UHGZ | PE-20-207W1 | 643.75 | 644.80 | 1.05 | 18.79 | 19.73 | | PE-20-190 | 625.00 | 642.20 | 17.20 | 1.01 | 17.37 | | including | 626.00 | 626.50 | 0.50 | 12.94 | 6.47 | | and including | 641.70 | 642.20 | 0.50 | 14.81 | 7.41 | | PE-21-347 | 777.65 | 778.15 | 0.50 | 31.33 | 15.67 | | PE-20-186 | 116.80 | 120.00 | 3.20 | 4.41 | 14.12 | | including | 117.30 | 117.80 | 0.50 | 26.02 | 13.01 | | PE-21-386W1 | 603.80 | 604.30 | 0.50 | 27.87 | 13.94 | | PE-20-186A | 105.30 | 108.80 | 3.50 | 4.08 | 14.28 | | including | 106.80 | 107.30 | 0.50 | 24.65 | 12.33 | | PE-21-287 | 972.90 | 989.50 | 16.60 | 0.82 | 13.61 | | including | 972.90 | 973.50 | 0.60 | 13.32 | 7.99 | | PE-21-347W1 | 822.80 | 823.40 | 0.60 | 20.37 | 12.22 | | PE-21-287W1 | 960.25 | 980.60 | 20.35 | 0.57 | 11.60 | | including | 960.25 | 960.75 | 0.50 | 10.97 | 5.49 | | PE-21-301W2 | 808.50 | 815.10 | 6.60 | 1.64 | 10.82 | | including | 809.35 | 809.85 | 0.50 | 15.43 | 7.72 | | PE-20-178 | 521.65 | 522.15 | 0.50 | 21.10 | 10.55 | | PE-20-197 | 875.25 | 891.70 | 16.45 | 0.53 | 8.72 | | PE-20-224W2 | 519.15 | 520.15 | 1.00 | 7.84 | 7.84 | | PE-21-347W2 | 773.50 | 774.00 | 0.50 | 13.84 | 6.92 | | and | 823.50 | 824.00 | 0.50 | 13.03 | 6.52 | | PE-21-404 | 827.00 | 831.50 | 4.50 | 1.27 | 5.72 | | PE-21-300 | 558.50 | 559.00 | 0.50 | 11.00 | 5.50 | | PE-20-226 | 103.50 | 106.00 | 2.50 | 2.12 | 5.30 | | PE-21-272 | 731.20 | 731.70 | 0.50 | 9.99 | 5.00 | | PE-21-294 | 387.10 | 587.60 | 0.50 | 9.35 | 4.68 | | PE-21-301W1 | 810.55 | 811.20 | 0.65 | 7.11 | 4.62 | | and | 844.20 | 844.70 | 0.50 | 6.51 | 3.26 | | PE-20-171 | 452.00 | 452.50 | 0.50 | 9.21 | 4.61 | | PE-20-190W1 | 610.70 | 611.20 | 0.50 | 6.45 | 3.23 | | PE-20-185 | 768.50 | 769.00 | 0.50 | 6.44 | 3.22 | | PE-20-197W2 | 809.45 | 812.50 | 3.05 | 1.05 | 3.20 | | PE-20-207W2 | 583.50 | 584.00 | 0.50 | 5.45 | 2.73 | | PE-21-434 | 914.90 | 915.40 | 0.50 | 4.51 | 2.26 | | PE-21-417 | 394.90 | 395.45 | 0.55 | 3.33 | 1.83 | | PE-20-231 | 38.85 | 39.60 | 0.75 | 2.38 | 1.79 | | PE-21-404W1 | 828.20 | 828.70 | 0.50 | 3.40 | 1.70 | | PE-21-301 | 808.20 | 808.70 | 0.50 | 3.25 | 1.63 | | and | 838.00 | 838.50 | 0.50 | 4.32 | 2.16 | | PE-21-248W1 | 493.60 | 494.10 | 0.50 | 1.91 | 0.96 | | PE-21-404W2 | 815.00 | 815.50 | 0.50 | 1.63 | 0.82 |
*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.
Regional Drilling at Western Perron
Amex has identified several new areas of gold mineralization in the western portion of the Beaupre block, in which very limited drilling has occurred historically due to limited access. The results presented below indicate the gold potential in the western block, and Amex plans to follow up on the below as well as test additional gold targets.
Table 7: Assay results from the regional drilling at Western Perron
| Zone | Hole | From (m) | To (m) | Length (m) | Au (g/t) | Gold Metal Factor (g/t*m) | | West Regional | PEX-21-054 | 94.00 | 98.50 | 4.50 | 3.18 | 14.31 | | PEX-21-065 | 80.50 | 83.80 | 3.30 | 2.56 | 8.45 | | PEX-20-011 | 200.10 | 201.80 | 1.70 | 3.09 | 5.25 | | including | 201.30 | 201.80 | 0.50 | 8.52 | 4.26 |
*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.
Qualified Person
Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin. Samples discussed in the press release were sent to Laboratoire Expert (Rouyn-Noranda) and AGAT Laboratories (Mississauga) for regional drilling exploration. The quality assurance and quality control protocol include insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard sample. For both laboratories, gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry. Samples containing visible gold mineralization are analyzed by metallic sieve and just performed by Laboratoire Expert. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold. Copper and other elements were analyzed using the four-acid ICP-AES method by Laboratoire Expert. Core logging and sampling were completed by Laurentia Exploration. The Qualified Persons have not completed sufficient work to verify the historic information on the Property, particularly in regards to historical drill results. However, the Qualified Persons believe that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.
About Amex
Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.
For further information please contact:
Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the HGZ and Denise Zone, the expected positive exploration results, the extension of the mineralized zones, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law. |
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| To: LoneClone who wrote (162743) | 1/13/2022 12:32:23 PM | | From: LoneClone | | | | Callinex Issues Annual Letter to Shareholders
newswire.ca
Callinex Mines Inc. Jan 11, 2022, 08:30 ET
VANCOUVER, BC, Jan. 11, 2022 /CNW/ - Callinex Mines Inc. ("Callinex") (TSXV: CNX) (OTC: CLLXF) is pleased to provide its year-end letter to shareholders from President and CEO, Max Porterfield:
Dear Shareholders,
What a difference a year makes!
We enter the New Year on the heels of the most successful year in the Company's history. We'd like to extend our sincere gratitude to our shareholders, stakeholders and employees that made it possible for Callinex to complete nearly 40,000m of drilling across its exploration portfolio and define a major discovery in 2021.
The Company's relentless focus on expanding the high-grade copper, gold, silver and zinc Rainbow Deposit located just outside of Flin Flon, MB has paid off handsomely. The Rainbow discovery had just three drill holes into it when we entered 2021 and now starts 2022 as a bonafide deposit with over 70 holes drilled into the deposit area. The Rainbow has expanded significantly closer to the surface over the last year with the potential of coming within 100m of surface compared to its initial discovery at ~900m below surface. Rainbow has also grown in other ways, which has been highlighted by a number of wide intervals that have been intersected in the Orange and Yellow zones, the two known zones that make up the Rainbow Deposit.
One thing that has remained the same since the first discovery hole - that is consistent high copper grades have been intersected throughout the deposit. Based on our extensive drill program, Rainbow has emerged as one of the highest grade copper deposits on a global basis which is consistent for deposits discovered within the prolific Flin Flon Mining District of Manitoba. Announced to date, the average drill hole composite grade of copper intersected in Rainbow is 4.04% compared to the global average grade of copper mined annually of 0.50%. To put this into more context, to be in the top 10 highest grade copper mines in the world a deposit needs to be over 4%, conservatively.
Rainbow has the potential to not only be one of the highest grade copper deposits in the world but also one of the cleanest, most ESG friendly. The very steeply dipping/plunging nature of the Rainbow deposit makes for an ideal underground mining scenario with the potential to utilize open stope bulk mining and also significantly reduce waste. This coupled with the clean low-cost hydroelectric power line located on site and 30 minute drive by existing all-weather road to processing facilities in Flin Flon makes for an environmentally friendly and sustainable growth opportunity.
We move forward into the New Year with even more ambitious goals than the year that's just passed. The Company will remain steadfast in our commitment to the Community of Flin Flon and our goal to drive long-term job creation as we define Rainbow and beyond. This year we aim to delineate Rainbow within the first 1km of surface and provide a maiden resource estimate for it and the historic Pine Bay Deposit located 650m away. Additionally, we will test the extent of Rainbow at depth and also begin metallurgical testing to fast-track development timelines.
Our team is also focused on making additional discoveries with continued attention to targets located within the interpreted growth fault corridor which hosts Rainbow and five other deposits, three of which have seen some level of historic production. We are also eager to define and drill test priority targets from the regional Induced Polarization survey that covers 5.5 km of the trend that hosts the Rainbow and Sourdough deposit to the south.
This year is shaping up to be even more exciting for Callinex as we continue the advancement of the high-grade Rainbow during the midst of a secular bull market for base and precious metals. I look forward to keeping you updated on our key catalysts throughout 2022.
Sincerely,
"Max Porterfield"
President & CEO
J.J. O'Donnell, P. Geo, a qualified person under National Instrument 43-101 and a Exploration Manager for Callinex, has reviewed and approved the technical information in this news release.
About Callinex Mines Inc.
Callinex Mines Inc. (TSXV: CNX) (OTC: CLLXF) is advancing its portfolio of base and precious metals rich deposits located in established Canadian mining jurisdictions. The portfolio is highlighted by the rapidly expanding Rainbow Discovery at its Pine Bay Project located near existing infrastructure in the Flin Flon Mining District. Additionally, Callinex has emerging near-surface silver discoveries at its Nash Creek Project located in the Bathurst Mining District of New Brunswick. A 2018 PEA on the Company's Bathurst projects outlined a mine plan that generates a strong economic return with a pre-tax IRR of 34.1% (25.2% post-tax) and NPV8% of $230 million ($128 million post-tax).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete the proposed drill program and the timing and amount of expenditures. Except as required under applicable securities laws, Callinex does not assume the obligation to update any forward-looking statement.
SOURCE Callinex Mines Inc.
 For further information: Callinex Mines Inc., Max Porterfield, President and Chief Executive Officer, Phone: (604) 605-0885, E-mail: info@callinex.ca
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| To: LoneClone who wrote (162744) | 1/13/2022 12:34:39 PM | | From: LoneClone | | | | Colibri Reports Purchase of RC Drill to Reduce Drilling Expenses and Expedite Exploration Work at Its Mexican Gold and Projects
newsfilecorp.com
Dieppe, New Brunswick--(Newsfile Corp. - January 11, 2022) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") is pleased report it has purchased a reverse circulation (RC) drilling rig. The drill rig is expected to assist in expeditiously and economically advancing Colibri's precious metals projects in Mexico. The Company will seek contract work to third parties when not being utilized for Colibri's purposes.
Colibri's management team have extensive experience in the hard rock drilling business. The Company has estimated that by owning and operating the rig, it will achieve significant cost savings per meter drilled when compared to contracting third party drilling providers as prices have been rising over the last 2 years due to supply and demand and inflationary pressures.
The rig purchase included peripheral equipment required to operate as well as spare parts for repairs. The purchase of the rig and ancillary equipment was CAD$475,000. In addition, the Company has hired a team of experienced drillers to operate the rig effectively and efficiently for Colibri and clients.
Ron Goguen, President of Colibri stated "Operating our own rig with an experienced crew will reduce our drilling costs, ensure quality meters drilled and guarantee availability for Company purposes. We are confident that we can compete for various work by offering great service and quality work. Additional cash flow from third party drilling will be used for operational improvements and general corporate purposes."
ABOUT COLIBRI RESOURCE CORPORATION:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring and exploring prospective gold & silver properties in Mexico. The Company has six exploration projects of which five currently have exploration programs being executed 2021 and 2022. (1) The flagship Evelyn Gold Project is 100% owned and explored by Colibri, (2) the Pilar Gold & Silver Project (optioned to Tocvan Ventures- (CSE:TOC)), (3) the El Mezquite Gold & Silver Project , (4) the Jackie Gold & Silver Project, and (5) the Diamante Gold & Silver Project. 3, 4,and 5 are subject to earn-in agreements by Silver Spruce Resources - (TSXV: SSE).
For more information about all Company projects please visit: www.colibriresource.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.
For information contact: Ronald J. Goguen, President, Chairperson and Director, Tel: (506) 383-4274, rongoguen@colibriresource.com
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| To: LoneClone who wrote (162745) | 1/13/2022 12:37:00 PM | | From: LoneClone | | | | FIRST ENERGY METALS ACQUIRES FALCON LAKE LITHIUM PROPERTY IN NORTHWESTERN ONTARIO, CANADA
newswire.ca
First Energy Metals Limited Jan 12, 2022, 05:00 ET
VANCOUVER, BC, Jan. 12, 2022 /CNW/ - First Energy Metals Ltd. (CSE: FE) ("First Energy" or the "Company) is pleased is pleased to announce that it has entered into an option agreement to acquire a lithium exploration property located in the Thunder Bay Mining Division Northwestern Ontario, Canada. The Falcon Lake Lithium Property consists of 48 mining claims covering approximately 960 hectares land located approximately 325 km North-northeast of Thunder Bay, and 75 km northeast of Armstrong, Ontario. The Property contains three spodumene bearing lithium pegmatite occurrences which were explored historically since the 1950s period. Lithium is the primary mineralization of interest in these pegmatites along with other rare metals such as beryllium, cesium, rubidium, niobium and tantalum.
Flacon Lake Lithium Property Highlights
- The Property hosts Mineral Deposit Inventory ("MDI") lithium occurrences as recorded on Ontario Mining Land Administration System and other sources on ODM Map 2100 by Pye (1968) which include Falcon Lake Discovery (MDI52I08NE00012), Falcon Lake West (MDI52I08NE00009) and Falcon Lake East (MDI52I08NE00013).
- The first reported work on the Property was completed in 1956 by British Canadian Lithium Mines Ltd. ("BCLM") on the Discovery, Falcon West and Falcon East occurrences (Darling, 1962). A total of 22 diamond drill holes for approximately 1,658.57 metres (5,441.5 ft) were drilled amongst the three showings. The 1956 diamond drilling outlined pegmatite zones to a depth of approximately 37 vertical metres (121 ft) from surface. Highlights of this drilling include 1.09% lithium (Li) over 10.97 m (36.0 ft) and 0.41% Li over 24.72 m (81.1 ft) from hole W-9 in the West zone and 1.13% Li over 4.91 m (16.1 ft) from hole E-4 in the East zone.
- Canadian Ore Bodies acquired the Property and carried out geological mapping along with litho-geochemical sampling, trenching, channel sampling and diamond drilling during 2009-11 period. Highlights of the exploration work results are provided below (also see Tables 1-3):
- In December of 2010, a total of 3 NQ size holes for 263.10 metres were completed and all three drill holes intersected the showing at depth. A strike length of approximately 75 metres, a down dip continuity of approximately 60 metres and an average true width of approximately 7 metres was estimated from drilling. An average grade of 1.045% lithium oxide (Li2O) was calculated from drill results. Drilling returned up to 1.10% Li2O over 11.00 metres in hole CO-10-003 and the zone is open to depth. The southern extension of the zone was also confirmed on surface where sample H467554 returned 1,290 ppm Li from a pegmatite outcrop approximately 100 metres south of hole CO-10-002 (Table 1).
- Of the 30 grab samples taken, four returned analyses greater than 10,000 ppm Li (2.26% to 2.82% Li2O), along with associated anomalous beryllium, cesium, gallium, niobium, rubidium and tantalum results. Six of the remaining 26 samples returned anomalous lithium results greater than 1,000 ppm (Table 2).
- The channel sampling program confirmed economic lithium tenor along the entire approximately 75 metre strike length of the Falcon Lake West occurrence. Sample highlights include seven samples ranging between 10,438 ppm Li to 14,800 ppm Li, 2.25% Li2O and 3.19% Li2O, respectively. Channel samples returned 1.537% Li2O over 6.98 m from channel #3 and 1.427% Li2O over 2.87 m from channel #12, with anomalous beryllium, cesium, gallium, niobium, rubidium, tin and tantalum. Channel samples from the Falcon Lake East showing returned up to 0.441% Li2O over 1.97 m from channel #16, with anomalous beryllium, cesium, gallium, niobium, rubidium, tin and tantalum. The highest single sample taken returned 5,290 ppm lithium, 1.14% Li2O (Table 3).
Statement: Investors are cautioned that the above information is taken from the publicly available sources. The Company has not been able to independently verify the information contained. The information is not necessarily indicative of the mineralization on the Property, which is the subject of this news release. The Company will need to conduct exploration to confirm historical mineralization reported on the property and there is no guarantee that significant discovery will be made as a result of its exploration efforts.
Afzaal Pirzada, P.Geo., Geological Consultant of the Company, and a "Qualified Person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
Transaction Details:
Pursuant to a property purchase agreement between the Optionor (Hemlo Exploration Inc.) and the Company, January 3rd, 2021 (the "Effective Date"), First Energy holds an option to acquire a 100% interest in the Property by making cash payments of $75,000, issuing 600,000 common shares, and carrying out exploration expenditures of $250,000 over a period of three years. This above noted agreement is with a non-related party and there are no directors, officers or senior management in common.
ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.
"Gurminder Sangha"
Gurminder Sangha
President & Chief Executive Officer
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Forward-looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to obtain required approvals. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Table 1: Drill Hole LC21-09 Assay Highlights
Hole ID
| From
(m)
| To
(m)
| Width
(m)
| Li2O
(%)
| Ta2O5
(ppm)
| Be
(ppm)
| Cs
(ppm)
| Nb
(ppm)
| Rb
(ppm)
| CO-10-001
| 69.30
| 83.30
| 14.00
| 0.99
| 52.5
| 145.4
| 166.0
| 62.5
| 2080.7
| including
| 69.30
| 74.30
| 5.00
| 1.25
| 46.6
| 214.7
| 189.8
| 69.4
| 2862.0
| and
| 79.30
| 83.30
| 4.00
| 1.50
| 47.9
| 128.7
| 120.1
| 78.7
| 1657.5
| CO-10-002
| 55.30
| 62.30
| 7.00
| 1.07
| 68.6
| 136.4
| 377.9
| 46.1
| 3477.1
| CO-10-003
| 39.40
| 50.40
| 11.00
| 1.10
| 50.0
| 115.2
| 83.3
| 62.5
| 1377.1
| including
| 44.40
| 50.40
| 6.00
| 1.52
| 48.5
| 156.6
| 84.7
| 79.9
| 1670.0
|
Table 2: Historical Surface Samples Results
Sample
#
| Li2O
(%)
| Li (%)
| Li
(ppm)
| Rb
(ppm)
| Be
(ppm)
| Cs
(ppm)
| Ga
(ppm)
| Ta
(ppm)
| Nb
(ppm)
| H467577
| 2.82
| 1.31
| 13100
| 1820
| 153
| 218
| 78
| 41.2
| 60.8
| H467585
| 2.45
| 1.14
| 11400
| 1940
| 245
| 190
| 63.4
| 28.8
| 61.2
| H467578
| 2.30
| 1.07
| 10700
| 2580
| 126.5
| 339
| 75.8
| 76.1
| 53.9
| H467586
| 2.26
| 1.05
| 10500
| 1640
| 118
| 109
| 64.9
| 20.8
| 54.7
| H467576
| 1.50
| 0.70
| 6990
| 3420
| 143.5
| 175
| 57.1
| 33.7
| 68.4
| H467561
| 1.43
| 0.66
| 6640
| 2790
| 333
| 175.5
| 65.3
| 46.9
| 74.4
| H467562
| 1.11
| 0.52
| 5150
| 2900
| 144.5
| 94.9
| 48.9
| 65
| 75.2
| H467556
| 1.00
| 0.46
| 4630
| 3750
| 167
| 420
| 59.9
| 58.3
| 53.9
|
Table 3: Channel Samples composites assays
Channel
#
| Length
(m)
| Li2O
(%)
| Li
(ppm)
| Be
(ppm)
| Cs
(ppm)
| Ga
(ppm)
| Nb
(ppm)
| Rb
(ppm)
| Sn
(ppm)
| Ta
(ppm)
| 1
| 1.00
| 1.957
| 9089
| 243
| 61
| 77
| 66
| 2019
| 100
| 20
| 2
| 2.90
| 1.420
| 6595
| 154
| 104
| 58
| 56
| 2060
| 61
| 28
| 3
| 6.98
| 1.537
| 7139
| 139
| 166
| 61
| 67
| 2103
| 60
| 35
| 4
| 1.00
| 1.815
| 8429
| 206
| 169
| 62
| 67
| 1808
| 70
| 44
| 5
| 1.50
| 1.127
| 5232
| 109
| 184
| 53
| 79
| 2032
| 38
| 41
| 6
| 5.45
| 1.576
| 7319
| 110
| 147
| 57
| 75
| 2121
| 49
| 34
| 8
| 2.02
| 1.599
| 7427
| 156
| 198
| 63
| 64
| 1598
| 63
| 64
| 9
| 2.00
| 1.993
| 9257
| 136
| 140
| 66
| 75
| 1295
| 69
| 57
| 10
| 1.50
| 1.769
| 8218
| 123
| 266
| 77
| 162
| 1713
| 90
| 107
| 11
| 2.00
| 1.313
| 6097
| 181
| 380
| 71
| 68
| 2733
| 75
| 45
| 12
| 2.87
| 1.427
| 6628
| 131
| 237
| 60
| 58
| 3146
| 66
| 74
| 14
| 2.96
| 1.610
| 7480
| 145
| 133
| 64
| 72
| 1807
| 77
| 36
| 15
| 2.56
| 1.468
| 6819
| 146
| 267
| 68
| 55
| 3244
| 88
| 43
| 16
| 1.97
| 0.441
| 2046
| 167
| 154
| 53
| 70
| 2180
| 80
| 32
| 17
| 1.58
| 0.424
| 1971
| 166
| 151
| 52
| 79
| 2202
| 80
| 36
|
* Li2O% calculated as (Li ppm/1,000,000) x 2.153 x 100%
|
SOURCE First Energy Metals Limited
 For further information: please contact the Company at: gsangha@firstenergymetals.com or (604) 375-6005
|
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| To: LoneClone who wrote (162746) | 1/13/2022 12:39:47 PM | | From: LoneClone | | | | U. S. Antimony Corporation Sets Zeolite Sales Records, Continues Company-wide Process Upgrades Program - Provides Operations Update
accesswire.com
Wednesday, January 12, 2022 8:00 AM
THOMPSON FALLS, MT / ACCESSWIRE / January 12, 2022 / United States Antimony Corporation (USAC - the Company) is pleased to announce that December zeolite shipments from its Bear River Zeolite facility (BRZ, website Bear River Zeolite) totaled 1,837 tons ($482,683) bringing the 2021 annual total to 14,040 tons and $3,027,259.
The Company is pleased to see that the implemented improvements are starting to yield increases in production and profit. Further upgrades are underway and planned at BRZ for both the mill and the mine that will enhance operations. BRZ is a leader in supplying the highest quality zeolite. As the environmental and regulatory demands for remediation of contaminated air and water continue to increase, we expect continuing high demand for our products. Similarly, upgrades to all of USAC's facilities are in various stages of implementation.
USAC's President commented, "The Company's expertise in the processing and refining of antimony combined with the continuing plant improvements made possible with last year's financing have had a positive effect on sales and earnings. I also note that the Rotterdam average price for antimony has increased and appears stable at the highest prices in the past 9 years."
Operations Up-date -November & December
Safety and Environmental
All Company operations reported zero lost time or serious injury accidents during the November-December period.
There were zero environmental spills, discharges, or incidents during the period. A pro-active program of legacy slag clean-up at the Madero Smelter was initiated and is 60% complete.
Production
| Bear River Zeolite ("BRZ"): | November
| December
| | Mined Tons | 1020
| 0
| | Crushed Tons | 628
| 474
| | Shipped Tons | 1290
| 1837
| | Madero Smelter: | November
| December
| | Crude antimony oxide produced: | 18,712 lbs.
| 29,108 lbs.
| | Crude antimony metal produced: | 0 lbs.
| 0 lbs.
| | Finished antimony metal produced: | 80,886 lbs.
| 0 lbs.
| | Crude antimony metal shipped to Montana: | 42,500 lbs.
| 0 lbs.
| | All crude antimony oxide was converted to antimony metal during the Nov/Dec period | | Thompson Falls: | November
| December
| | Antimony Trioxide Sold: | 44,100 lbs.
| 200,968 lbs.
| | Antimony Trisulfide shipped: | 6,000 lbs.
| 1,089 lbs.
|
Operations Upgrades
BRZ: Repair and modification of the apron feeder to the jaw crusher and modifications of the feed bin to the cone crusher were completed during the period. The pouring of concrete foundations for both the new 50'x100' warehouse (for additional storage of product) and for a 40' x 60' shop (for servicing equipment) was completed. A new classification machine on Line-1 which will lessen down-time was ordered and will be arriving and installed in Q1 2022.
Madero: The Madero operations continued to produce crude antimony metal to lessen trucking costs (as compared to crude antimony trioxide) to Thompson Falls. For this period, about two truckloads of purified antimony ingots for shipment directly to customers was produced. As a part of the smelter infrastructure upgrade project, a program to clean-up and process approximately 2000 tons of legacy slag was started and is now 60% complete.
Thompson Falls: Modifications to two new tri-sulphide furnaces were made to increase efficiencies. The modifications to the furnaces were completed and the furnaces are now being re-assembled. These modifications were identified as necessary after assessing the performances of both furnaces while producing test batches of antimony trisulphide in early October.
One of our old short-rotary furnaces (SRF's) has been relined and the refractory fired-in in November. This furnace has been in production since then and the company intends to continue relining aging furnaces in Montana one by one as necessary. The company's increase in wage rates combined with its recruiting efforts has resulted in 4 additional laborers and increased our rate of production by about 57%.
Ambri Inc.: USAC has purchased a dual-deck classifier to upgrade the rate and quantity of production of antimony to supply to Ambri.
Los Juarez/Puerto Blanco: USAC has started processing 2000 tons of selected material mined at the Los Juarez property. The material is being run through the Puerto Blanco flotation mill to produce antimony concentrate also containing precious metals. This 2000 tons was selected from several mined jasperoid outcrops that have been open pitted at Los Juarez. This processing campaign will afford USAC much better statistical data of the head-grade and recovery. Modifications were made in this period to the cyanide leach circuit that eliminated a mechanical problem that had existed. USAC has been solicited by two additional mining/exploration companies in Mexico and are engaged in negotiations towards a potential partnership regarding the exploration of the Los Juarez property.
Forward Looking Statements:
This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events, including matters related to the Company's operations, pending contracts and future revenues, ability to execute on its increased production and installation schedules for planned capital expenditures and the size of forecasted deposits. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent filings, including Form 10-KSB with the Securities and Exchange Commission.
CONTACT:
United States Antimony Corp.
PO Box 643 47 Cox Gulch Rd.
Thompson Falls, Montana 59873-0643
E-Mail: info@unitedstatesantimony.com
Phone: 406 579 4097
SOURCE: United States Antimony Corp. |
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| To: LoneClone who wrote (162747) | 1/13/2022 12:44:21 PM | | From: LoneClone | | | | i-80 Launches Comprehensive Plan to Create Nevada Focused Gold Mining Company
i80gold.com
Download Press Release
All currencies expressed as United States dollars unless otherwise stated
Reno, Nevada, January 12, 2022 – i-80 GOLD CORP. (TSX:IAU) (OTCQX:IAUCF) (“i-80”, or the “Company”) is pleased to announce its development plans for 2022 – a catalyst-rich year as the Company commences its plans to build a comprehensive Nevada mining complex. i-80 is in the process of developing multiple mining operations to achieve its objective of building a Nevada focused mining company with a goal of ultimately producing more than 500,000 ounces of gold annually.
i-80 completed multiple strategic transactions in 2021, the first year of it being a publicly traded Company, that position the Company to achieve its goal of becoming a prominent, stand alone, gold producer in the state of Nevada. i-80 acquired the Granite Creek, Lone Tree and Ruby Hill properties to become one of the largest holders of gold and silver resources in Nevada (See Table 4).
Importantly, the Company secured the ability to process all types of gold mineralization, including refractory gold bearing mineralization, through the acquisition of the Lone Tree processing complex and also through interim processing agreements with Nevada Gold Mines (“NGM”) that provide the Company with the flexibility to process material from any of the three planned underground operations until the Lone Tree autoclave is restarted. Processing of refractory mineralization remains one of the biggest barriers to entry in Nevada and i-80 is currently one of only three companies with this capability.
To execute its “Hub and Spoke” development plan, i-80 intends to construct four new mining operations over the next three years, complete multiple large-scale drill programs, advance permitting, build a tier-one exploration, development and mining operations team, and restart the Lone Tree autoclave.
Lone Tree will be the “Hub” of i-80’s Nevada operations as the central processing facility, operations office, assay lab and warehouse for all sites. Mineralization from Granite Creek, Ruby Hill, and McCoy-Cove will feed the Lone Tree Autoclave, once restarted, and mineralization from the Buffalo Mountain (and Brooks) open pit will be processed at the Lone Tree heap leach facility. So that investors can better understand deliverables, and track execution progress, the Company is adopting a “Scorecard” as presented in Table 1 below.
“With a strong balance sheet, we are concentrated on achieving our goal of becoming one of Nevada’s largest gold producers”, stated Ewan Downie, Chief Executive Officer of i-80 Gold. “2021 was a highly successful first year for i-80 where we closed multiple strategic acquisitions that position i-80 as one of the largest holders of gold and silver resources in the State.”
“Executing our aggressive growth platform is the key focus for 2022 and management is in the process of building a tier-one management team with a track record of operational excellence in Nevada”, stated Matt Gili, President & Chief Operating Officer of i-80 Gold. “We are targeting peer-best production growth through the development of our portfolio of permitted, road accessible deposits. Additionally, the Company has gained a strategic advantage as one of only three companies in the State with infrastructure to process refractory mineral resources, once the facility has been retrofitted to suit the Company’s deposits.”
Lone Tree Processing Facilities and Buffalo Mountain Project
Lone Tree is expected to become the hub of i-80’s Nevada operations, and the central processing facility for mineralization from the first four planned mining projects. Importantly, Lone Tree is host to infrastructure that, following successful refurbishment efforts, will allow it to process refractory and oxide mineralization. Currently on care and maintenance, the property hosts existing infrastructure that includes a whole ore autoclave with capacity of 1M Tonnes/year, a flotation circuit with capacity of 1.8M Tonnes/year, a CIC circuit & leach pad with 6.5M Tonnes of remaining capacity, a tailings dam with 1.5M Tonnes of remaining constructed capacity and an additional 10 M Tonnes of designed capacity, a waste dump, along with several buildings useful for the development of all i-80’s projects including a warehouse, maintenance shop, administration building and assay lab.
In Q1-2022, the Company plans to award the contract to complete a detailed engineering study for the restart of the autoclave and secure key personnel to execute the restart plan. Additionally, permitting for the development of the Buffalo Mountain open pit mine is underway, where gold mineralization is expected to be processed at the Lone Tree leach pad facility. An initial resource for Buffalo Mountain is expected to be complete in H1-2022.
i-80 considers the Lone Tree infrastructure to be the most strategically located processing facility in Nevada, located on Interstate 80 with the Nevada Railway less than two kilometres to the north, and will be the platform from which i-80 intends to grow its business (see Figure 1 below).
Figure 1 – Aerial view of the Lone Tree Mine Site
Granite Creek Property
The fully permitted Granite Creek underground represents the Company’s most advanced project. Initial rehabilitation of the underground workings was completed in 2021 and additional levels are now being constructed and multiple levels are being prepared for mining. A surface and underground drill program, expected to comprise more than 20,000 metres of drilling, is well underway with positive results. Following the 2022 drill campaign, the Company intends to complete a revised resource estimate focused on the underground mineralized zones.
The Granite Creek Mine Project hosts both open pit and underground resources and is strategically located proximal to Nevada Gold Mines’ Twin Creeks and Turquoise Ridge mines at the north end of the Battle Mountain-Eureka Trend at its intersection with the Getchell gold belt in Nevada. The underground deposit at Granite Creek represents one of the highest-grade gold deposits in North America with resource grades in excess of 10 grams per tonne (“g/t) gold (see Table 2 below).
The primary goal of the 2021/2022 drill program is to advance underground drilling and test mining with a target of ramping up to production in H1-2022. Underground drilling will be focused on delineating sufficient resources for near-term mine development and full production, and a cubex drill was recently added to define initial stoping areas. Initially, material mined from Granite Creek will be trucked for processing at the nearby NGM’s Twin Creeks processing facility through the interim processing arrangement that was entered into for processing until the Company’s Lone Tree facility is operational.
In addition to the underground program at Granite Creek, the surface drilling program testing near-surface mineralization for metallurgical purposes and open pit definition was completed in 2021. This part of the program was competed primarily to advance permitting for open pit mining including heap leach processing on-site. A Preliminary Economic Assessment for the Granite Creek Mine Project was completed in 2021 and a full feasibility study for the open pit project is planned to be completed in the future.
Ruby Hill Project
Ruby Hill includes an open pit mine and related infrastructure (mill / heap leach) and is located immediately west of the town of Eureka proximal to Highway 50. The Ruby Hill Property is host to multiple gold, silver and base metal deposits that collectively comprise one of Nevada’s largest mineral endowments that offer substantial upside. In Q4-2021, i-80 launched a multi-drill campaign that will see a minimum of 20,000 metres drilled in 2022 followed by a resource update. All deposits remain open along strike and at depth.
Multiple gold and polymetallic exploration targets exist on the property and i-80 will begin permitting for the construction of a decline to access the high-grade Ruby Deeps deposit and the Blackjack Zone with the intent of trucking refractory mineralization for processing at Lone Tree (see Figure 2). In H1-2022, i-80 will continue with processing of material mined in H2-2021 at the heap leach facility on the property. Ruby Hill also includes crushing and CIL processing infrastructure (see Figure 3).
Figure 2 – Conceptual Underground Mine Design
*Blackjack is a mineralized zone and not mineral resource
Figure 3 – Ruby Hill Infrastructure
McCoy-Cove Property
In November 2021, i-80 announced that it intended to proceed with its planned underground, advanced-exploration, program at the Company’s 100%-owned McCoy-Cove Property. The underground plan will include the construction of a decline, and a level that will include multiple drill bays in order to upgrade resources and complete a Feasibility Study. The Cove deposit on the Property represents one of North America’s highest grade gold deposits with grades in excess of 10 grams per tonne gold (g/t Au) (see Table 3). The deposit remains open for expansion down-dip.
In the coming weeks, the Company will engage contractors to proceed with the initial underground development plan and drilling of approximately 40,000 metres that is expected to commence in the second half of 2022 followed by a Feasibility Study.
The McCoy-Cove Property is strategically located approximately 50 km south of the Company’s Lone Tree Complex, and immediately south of Nevada Gold Mines’ Phoenix Mine within the Battle Mountain-Eureka Trend. The Property is accessed via all-season road from Highway 55 in Nevada.
ESG Initiative
The Company is focused on achieving industry best ESG practices. Since i-80’s inception in April 2021, the Company completed an ESG Assessment with a third-party consultant which highlighted key areas of focus going forward. The Company intends to grow on this success in 2022 with the goal of aligning with the ICMM Guidelines and has set out a plan to achieve this.
Financial Strength
In 2021, i-80 closed financings that will result in the Company having a strong balance sheet including nearly US$200 Million in cash and cash equivalents following funding of the previously announced financing package.
About i-80 Gold Corp.
i-80 Gold Corp. is a well-financed, Nevada-focused, mining company with a goal of achieving mid-tier gold producer status through the development of four new open pit and underground mining operations that will ultimately process ore at the Company’s central Lone Tree complex that includes an Autoclave.
Technical Information
The scientific and technical information contain in this press release has been reviewed by Tim George, PE, Manager of Engineering Services of i-80 and a Qualified Person within the meaning of NI43-101.
For further information, please contact:
Ewan Downie – CEO
Matt Gili – President & COO
Matthew Gollat – EVP Business & Corporate Development
1.866.525.6450
Info@i80gold.com
www.i80gold.com
Certain statements in this release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws, including but not limited to, , completion of refurbishment and development activities at the Long Tree project, commencement of mining operations at the Lone Tree project or the Ruby Hill mine development activities at the Company’s projects and resource updates in respect of certain properties, the objectives set out under 2022 Scorecard – Key Goals & Catalysts in this press release and the ESG initiatives. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These statements reflect the Company’s current expectations regarding future events, performance and results and speak only as of the date of this release.
Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to: failure to obtain the relevant regulatory approvals, material adverse changes, exercise of termination rights by any relevant party, unexpected changes in laws, the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration, refurbishment, development or mining programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.
Cautionary Note to U.S. Investors Concerning Estimates of Resources: This press release uses the term “inferred resources.” “Inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or prefeasibility study, except in rare cases. Information contained in the press release containing descriptions of any mineral deposits may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder that disclose mineral reserves and mineral resources in accordance with Industry Guide 7 or the SEC’s new mining disclosure rules in Regulation S-K 1300. SEC Industry Guide 7 does not recognize the existence of resources. Under Regulation S-K 1300, reserve and resource definitions are substantially similar to the corresponding CIM Definition Standards; however, there are differences between NI 43-101 and Regulation S-K 1300 and therefore information contained in the press release may not be comparable to similar information made public by public U.S. companies pursuant to the Regulation S-K 1300 or SEC Industry Guide 7.
Cautionary Statement:
A production decision at each of the Ruby Hill Mine and Lone Tree projects was made by previous operators of the mines, prior to the completion of the acquisition of each such project by the Company and the Company made a decision to continue production subsequent to the acquisitions at each of the projects. This decision by the Company to continue production and, to the knowledge of the Company, the prior production decision at each of the projects were not based on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, which include increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that anticipated production costs will be achieved. Failure to achieve the anticipated production costs would have a material adverse impact on the Company’s cash flow and future profitability. Readers are cautioned that there is increased uncertainty and higher risk of economic and technical failure associated with such production decisions.
|
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| To: LoneClone who wrote (162748) | 1/13/2022 1:00:11 PM | | From: LoneClone | | | | Wallbridge Adds Near Surface Mineralization in Area 51 and Extends Tabasco/Cayenne at Depth
wallbridgemining.com
January 12, 2022
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Toronto, Ontario – January 12, 2022 – Wallbridge Mining Company Limited (TSX:WM, OTCQX:WLBMF) (“Wallbridge” or the “Company”) today announced further positive assay results from its resource drilling program on the Fenelon Gold Property (“Fenelon” or the “Property”), located on the highly prospective Detour-Fenelon Gold Trend in Northern Abitibi, Quebec.
Ongoing drilling within the 2021 mineral resource estimate (“MRE”) open pit shell has intersected new, near-surface mineralization grading 2.59 g/t of gold over 57.65 metres in drill hole FA-21-304. Deep resource drilling, below the current extent of the MRE has also been successful in extending the Eastern Shoot of the Tabasco/Cayenne Zones with 9.70 g/t of gold over 3.70 metres in hole FA-21-311-W1.
“These drilling results continue to validate substantial opportunities to increase the mineral resources within the known footprint of the Fenelon deposit, and within the extensions along strike and at depth,” stated Marz Kord, President & CEO of Wallbridge. “In Area 51, we have encountered several new intersections with open pit potential, at higher grades than the average open pit grade in our 2021 MRE. Over the course of 2022, in addition to resource expansion and exploration drilling, we will continue to target zones with the potential to deliver higher grade near surface mineralization inside the current pit shell, which will strengthen the overall economics of the open pit component of the project.”
Resource Expansion Drill Results
Highlight expansion intersections since the last news release from this program include:
| FA-21-304 | 2.59 g/t Au over 57.65 metres, including | | | 18.81 g/t Au over 2.10 metres, and | | | 31.51 g/t Au over 2.50 metres in Area 51; |
This intersection is near surface, starting at a vertical depth of only 110 metres and located inside the 2021 MRE open pit shell, but not within the resource block model.
| FA-21-311-W1 | 9.70 g/t Au over 3.70 metres in the Tabasco Zone; |
This intersection is at a vertical depth of 1,200 metres, 170 metres below the last intersection of the Tabasco/Cayenne Zones in the Eastern Shoot.
Resource In-fill Drill Results
Infill drilling to improve the quality and robustness of the existing resources remains ongoing. The following are highlight infill intersections since our last update:
| FA-20-159-W3 | 1.40 g/t Au over 53.85 metres, including | | | 2.44 g/t Au over 18.80 metres, which includes | | | 4.71 g/t Au over 5.20 metres in Area 51; | | | | | FA-21-314 | 1.01 g/t Au over 36.20 metres, and | | | 2.98 g/t Au over 16.60 metres in Area 51; | | | | | FA-21-314-W1 | 0.88 g/t Au over 34.65 metres, including | | | 3.59 g/t Au over 4.80 metres in Area 51; |
Assay results from 11 drill holes of the 2021 Fenelon drill program are reported in the Table and Figures below. All figures and a table with drill hole information of recently completed holes are posted on the Company’s website under “Current Program” at wallbridgemining.com.
Figure 1. Fenelon Gold, Plan View
Figure 2. Fenelon Gold, Long Section
Table 1. Wallbridge Fenelon Gold Property, Recent Drill Assay Highlights (1)
| | Drill Hole | From | To | Length | Au | Au Cut(2) | VG(3) | Zone/Corridor | Section | In-fill or Expansion | | | (m) | (m) | (m) | (g/t) | (g/t) | | | | | | FA-20-159-W3 | 552.50 | 606.35 | 53.85 | 1.40 | 1.40 | VG | Area 51 | 10200 | In-fill | | Including… | 552.50 | 559.10 | 6.60 | 2.93 | 2.93 | | Area 51 | 10200 | In-fill | | And… | 575.00 | 593.80 | 18.80 | 2.44 | 2.44 | VG | Area 51 | 10200 | In-fill | | Which Includes… | 575.00 | 580.20 | 5.20 | 4.71 | 4.71 | VG | Area 51 | 10200 | In-fill | | FA-20-205-W2 | No Significant Mineralization (4) | 10350 | | | FA-20-205-W3 | No Significant Mineralization (4) | 10350 | | | FA-21-304 | 56.00 | 64.80 | 8.80 | 0.77 | 0.77 | | Area 51 | 9825 | In-fill | | FA-21-304 | 104.35 | 162.00 | 57.65 | 2.59 | 2.19 | VG | Area 51 | 9825 | Expansion | | Including… | 124.90 | 127.00 | 2.10 | 18.81 | 18.81 | | Area 51 | 9825 | Expansion | | And… | 159.50 | 162.00 | 2.50 | 31.51 | 22.31 | VG | Area 51 | 9825 | Expansion | | FA-21-307 | 438.70 | 447.50 | 8.80 | 1.27 | 1.27 | | Gabbro East Extension | 10800 | In-fill | | FA-21-310 | 272.00 | 282.00 | 10.00 | 0.65 | 0.65 | | Tabasco | 9600 | Expansion | | FA-21-311 | 160.00 | 161.30 | 1.30 | 5.53 | 5.53 | | Area 51 | 10350 | Expansion | | FA-21-311 | 290.00 | 292.50 | 2.50 | 2.23 | 2.23 | | Area 51 | 10350 | Expansion | | FA-21-311 | 616.50 | 619.00 | 2.50 | 3.44 | 3.44 | | Area 51 | 10350 | Expansion | | FA-21-311 | 967.50 | 968.10 | 0.60 | 10.90 | 10.90 | | Area 51 | 10350 | Expansion | | FA-21-311 | 1072.80 | 1074.31 | 1.51 | 5.69 | 5.69 | VG | Area 51 | 10350 | Expansion | | FA-21-311-W1 | 1308.50 | 1313.55 | 5.05 | 2.21 | 2.21 | | Tabasco | 10350 | Expansion | | FA-21-311-W1 | 1348.50 | 1352.20 | 3.70 | 9.70 | 9.70 | | Tabasco | 10350 | Expansion | | FA-21-311-W1 | 1385.50 | 1388.50 | 3.00 | 1.90 | 1.90 | | Tabasco | 10350 | Expansion | | FA-21-313 | No Significant Mineralization (4) | 10725 | | | FA-21-314 | 270.00 | 306.20 | 36.20 | 1.01 | 1.01 | | Area 51 | 10125 | In-fill | | Including… | 286.50 | 288.00 | 1.50 | 9.82 | 9.82 | | Area 51 | 10125 | In-fill | | And… | 303.00 | 306.20 | 3.20 | 2.64 | 2.64 | | Area 51 | 10125 | In-fill | | FA-21-314 | 360.40 | 377.00 | 16.60 | 2.98 | 2.98 | VG | Area 51 | 10125 | In-fill | | Including… | 360.40 | 362.00 | 1.60 | 24.89 | 24.89 | VG | Area 51 | 10125 | In-fill | | FA-21-314-W1 | 408.00 | 423.50 | 15.50 | 0.53 | 0.53 | VG | Area 51 | 10125 | In-fill | | FA-21-314-W1 | 440.00 | 449.00 | 9.00 | 0.93 | 0.93 | | Area 51 | 10125 | In-fill | | FA-21-314-W1 | 457.20 | 488.00 | 30.80 | 1.31 | 1.31 | VG | Area 51 | 10125 | In-fill | | Including… | 474.00 | 482.00 | 8.00 | 2.78 | 2.78 | VG | Area 51 | 10125 | In-fill | | FA-21-314-W1 | 513.35 | 548.00 | 34.65 | 0.88 | 0.88 | VG | Area 51 | 10125 | In-fill | | Including… | 513.35 | 518.15 | 4.80 | 3.59 | 3.59 | VG | Area 51 | 10125 | In-fill | | FA-21-314-W1 | 679.60 | 724.90 | 45.30 | 1.25 | 1.25 | VG | Tabasco | 10125 | In-fill | | Including… | 702.30 | 703.80 | 1.50 | 22.01 | 22.01 | VG | Tabasco | 10125 | In-fill | | FA-21-315 | No Significant Mineralization (4) | 10125 | |
(1) Table includes only assay results received since the latest press release dated December 9, 2021.
(2) Au cut: High-grade capping is 75g/t Au for Area 51 and 110 g/t Au for Tabasco-Cayenne-Contact Zones.
(3) Intervals containing visible gold ("VG").
(4) Metal factor of at least 5.25 g/t*m and a minimum weighted average composite grade of 0.35 g/t Au for intervals within/beside the 2021 MRE open pit shell, or metal factor of at least 7.50 g/t*m and a minimum weighted average composite grade of 1.50 g/t Au for intervals below the depth extent of the 2021 MRE open pit shell.
Note: True widths are estimated to be 50?80% of the reported core length intervals.
Assay QA/QC and Qualified Persons
Drill core samples from the ongoing drill program at Fenelon are cut and bagged either on site or by contractors and transported to SGS Canada Inc., AGAT Laboratories Ltd. or Bureau Veritas Commodities Canada Ltd. for analysis. Samples, along with standards and blanks that are included for quality assurance and quality control, were prepared and analyzed at the laboratories. Samples are crushed to 90% less than 2mm. A 1kg riffle split is pulverized to 85% passing 75 microns. 50g samples are analyzed by fire assay and AAS. At SGS, AGAT and Bureau Veritas samples >10g/t Au are automatically analyzed by fire assay with gravimetric finish or screen metallic analysis. To test for coarse free gold and for additional quality assurance and quality control, Wallbridge requests screen metallic analysis for samples containing visible gold. These and future assay results may vary from time to time due to re?analysis for quality assurance and quality control.
The Qualified Person responsible for the technical content of this press release is Peter Lauder, P.Geo, Exploration Manager of Wallbridge.
About Wallbridge Mining
Wallbridge is currently advancing the exploration and development of its 100%?owned Fenelon Gold property located along the Detour?Fenelon Gold Trend, an emerging gold belt in northwestern Québec. Within three years of the discovery of the Area 51 and Tabasco/Cayenne Zones, through drill programs totaling over 300,000 metres, Wallbridge reached an important milestone by announcing a maiden MRE for Fenelon and an updated MRE for the Martiniere Gold Property totalling 2.67 Moz Au in the indicated category and 1.72 Moz Au in the inferred category ((for details of the MREs see Wallbridge press release dated November 9, 2021 and Technical Report filed December 23, 2021 on SEDAR).
Both properties are located on the Company’s 910 km2 land package along the Detour-Fenelon Gold Trend in Northern Abitibi, Québec, with significant potential for further discoveries over a 97?kilometre strike length of this underexplored belt.
Wallbridge is also the operator of, and a 17.8% shareholder in, Lonmin Canada Inc., a privately?held company with a portfolio of nickel, copper, and platinum?group metals (PGM) projects in Ontario's Sudbury Basin.
This news release has been authorized by the undersigned on behalf of Wallbridge Mining Company Limited.
For further information please visit the Company's website at www.wallbridgemining.com or contact:
Wallbridge Mining Company Limited
Marz Kord, P. Eng., M. Sc., MBA
President & CEO
Tel: (705) 682?9297 ext. 251
Email: mkord@wallbridgemining.com
Victoria Vargas, B.Sc. (Hon.) Economics, MBA
Investor Relations Advisor
Email: vvargas@wallbridgemining.com
Cautionary Note Regarding Forward-Looking Information
This press release of Wallbridge Mining Company Limited ("Wallbridge" or the "Company") contains forward-looking statements or information (collectively, “FLI”) within the meaning of applicable Canadian securities legislation. FLI is based on expectations, estimates, projections and interpretations as at the date of this press release.
All statements, other than statements of historical fact, included herein are FLI that involve various risks, assumptions, estimates and uncertainties. Generally, FLI can be identified by the use of statements that include words such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved.”
FLI herein includes, but is not limited to: future drill results; the Company’s ability to convert inferred resources into measured and indicated resources; environmental matters; stakeholder engagement and relationships; parameters and methods used to estimate the mineral resource estimates (each an “MRE”) at the Fenelon Gold and Martiniere properties (collectively the “Deposits”); the prospects, if any, of the Deposits; future drilling at the Deposits; and the significance of historic exploration activities and results.
FLI is designed to help you understand management’s current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their nature are based on assumptions and involve 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 such FLI. Although the FLI contained in this press release is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no obligation, to update or revise any such FLI contained herein to reflect new events or circumstances, except as may be required by law. Unless otherwise noted, this press release has been prepared based on information available as of the date of this press release. Accordingly, you should not place undue reliance on the FLI or information contained herein.
Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI.
Assumptions upon which FLI is based, without limitation, include: the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration activities; the legitimacy of title and property interests in the Deposits; the accuracy of key assumptions, parameters or methods used to estimate the MREs; the ability of the Company to obtain required approvals; the results of exploration activities; the evolution of the global economic climate; metal prices; environmental expectations; community and non-governmental actions; and any impacts of COVID-19 on the Deposits, the Company’s financial position, the Company’s ability to secure required funding, or operations. Risks and uncertainties about Wallbridge's business are more fully discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at www.sedar.com.
Covid?19 ? Given the rapidly evolving nature of the Coronavirus (COVID?19) pandemic, Wallbridge is actively monitoring the situation in order to continue to maintain as best as possible the activities while striving to protect the health of its personnel. Wallbridge' activities will continue to align with the guidance provided by local, provincial and federal authorities in Canada. The Company has established measures to continue normal activities while protecting the health of its employees and stakeholders. Depending on the evolution of the virus, measures may affect the regular operations of Wallbridge and the participation of staff members in events inside or outside Canada.
Information Concerning Estimates of Mineral Resources
The disclosure in this press release and referred to herein was prepared in accordance with NI 43-101 which differs significantly from the requirements of the U.S. Securities and Exchange Commission (the "SEC"). The terms "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" used in this press release are in reference to the mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum Standards (the "CIM Definition Standards"), which definitions have been adopted by NI 43-101. Accordingly, information contained in this press release providing descriptions of our mineral deposits in accordance with NI 43-101 may not be comparable to similar information made public by other U.S. companies subject to the United States federal securities laws and the rules and regulations thereunder.
Investors are cautioned not to assume that any part or all of mineral resources will ever be converted into reserves. Pursuant to CIM Definition Standards, "inferred mineral resources" are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Such geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve. However, it is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable. Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measures.
Canadian standards, including the CIM Definition Standards and NI 43-101, differ significantly from standards in the SEC Industry Guide 7. Effective February 25, 2019, the SEC adopted new mining disclosure rules under subpart 1300 of Regulation S-K of the United States Securities Act of 1933, as amended (the "SEC Modernization Rules"), with compliance required for the first fiscal year beginning on or after January 1, 2021. The SEC Modernization Rules replace the historical property disclosure requirements included in SEC Industry Guide 7. As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". Information regarding mineral resources contained or referenced in this press release may not be comparable to similar information made public by companies that report according to U.S. standards. While the SEC Modernization Rules are purported to be "substantially similar" to the CIM Definition Standards, readers are cautioned that there are differences between the SEC Modernization Rules and the CIM Definitions Standards. Accordingly, there is no assurance any mineral resources that the Company may report as "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under NI 43-101 would be the same had the Company prepared the resource estimates under the standards adopted under the SEC Modernization Rules. |
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| To: LoneClone who wrote (162749) | 1/13/2022 1:34:14 PM | | From: LoneClone | | | | Riverside Resources Corporate Outlook for 2022
newsfilecorp.com
Vancouver, British Columbia--(Newsfile Corp. - January 12, 2022) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company"), is pleased to provide an outlook on the upcoming 2022 year's catalysts and some of the Company's achievements and milestones in 2021. Riverside continues to progress its Project Generator business model through staking quality prospects, working with partners, finding undervalued acquisitions, and advancing some of its main assets and retaining royalties on all its projects. Moving into 2022, the company will be very active on self-funding programs including having a cash position of over $5M and with partners such as BHP (one of the world's largest mining companies) and junior partners like Carlyle Commodities and Southern Empire for mineral exploration in Sonora, Mexico.
In 2022, Riverside expects to generate strong news flow from the following key projects and partnerships:
- La Union Project, Sonora - Riverside working diligently to follow up high grade gold, silver and base metals with big potential discoveries targeted on the horizon;
- While advancing its 100%-owned, La Union Project, Riverside's technical team is seeing strong potential moving forward. Results from January 2022 have demonstrated presence of up 84 g/t Au and >1500 g/t Ag in rock chip samples (see press release January 5, 2022);
- The Oakes Project, Ontario - Riverside is progressing its IP interpretation and moving towards a self-funded drilling program for top potential targets in Q1 / 2022;
- All internal data and evidence of high-grade mineralization presented in strong anomalous IP results, are leading the way for Riverside to take the next stage of drilling for its Canadian flagship project in 2022;
- BHP Partnership, Sonora - Riverside has additional deals in the works, which are expected to close and be announced early this year. The company is also progressing on 3 funded programs with spending of over $3M in the first 6 months of 2022.
- Copper exploration alliance on selected and defined projects, finalizing third party acquisitions, and advance work toward drilling;
- Working to develop a new exploration partnership with a major mining company.
- Acquire new mineral districts with past production, extensive exploration upside and company making potential.
- Complete further drilling as part of the Carlyle partnership on the Cecilia project, which could define a possible mineralized body at depth around the Cerro Magallanes main dome.
- Progress the Cuarentas Gold Project in Sonora with further drilling, and potentially test the porphyry copper center while expanding on the 2021 drill program.
- Complete further farm out option deals from the Riverside portfolio such as Suaqui Grande, Suaqui Verde, High Lake and others.
- Riverside plans to progress the Longrose and Pichette properties located in the Geraldton Greenstone Belt, Ontario with exploration and likely partnerships.
- Porphyry Copper portfolio project, Ariel in Sonora - work with partner to drill test the porphyry copper targets.
These upcoming catalysts are summarized in the video link here:
newsfilecorp.com
As a brief recap of progress during 2021: Riverside started strong with multiple high-grade drill intercepts and one in particular of 25 m at 1.51 g/t Au at the Cecilia project, currently under the option agreement with Carlyle Commodities. The drill program with Carlyle was followed by additional funding from the exploration alliance with BHP where Riverside received US$3.5M for its copper project generation activities in Sonora. This investment has brought new and multiple opportunities for the BHP-Riverside selected projects, including third party acquisitions with additional funding towards geophysics and more detailed work with Riverside as the operator. After close to 3 years of partnership, BHP and Riverside are entering into more defined programs for the selected projects of interest, and specific findings that could trigger drilling in the near future. This progression is in line with the expected milestones and timelines that were laid out when Riverside first entered into this agreement with BHP.
This partnership with BHP is valuable to Riverside, as it opens up the possibility of making significant discoveries through accessing the major companies full carry of funding costs while seeking large new copper finds. In 2022 the partnership between BHP and Riverside is focused on more defined and detailed exploration, and therefore further advances the possibility for new large copper porphyry discoveries. With size and scale being the primary determinant of the viability and longevity of a mining operation, such a discovery would certainly be a game changer and more than five programs have now been generated with more coming in H1/2022.
As Riverside entered the second half of 2021, the company began exploring the Union project, a property that has been part of Riverside's portfolio in Sonora, Mexico. Consolidation and acquisition of the strategic claims for this project was set as a near-term goal that Riverside achieved. The company is now moving forward with a better understanding of the mineralized system and potential high grade gold and silver found at surface near the old workings at La Union district.
In Canada, Riverside increased its activity across its portfolio in 2021, including sale of the High Lake Greenstone Project and recovery of the Geraldton Greenstone Belt project portfolio including the high priority and drill-ready Oakes Gold project 20 kms east of the Hard Rock Gold Mine construction of Equinox Gold which will exceed 400,000 ounces gold per year production.
Equally important for Riverside has been the fact that it has managed and advanced this portfolio of assets in two countries with a tight share of only 71M shares outstanding and no warrants. This is in keeping with Riverside's philosophy of ensuring that capital intensive exploration should be done with a focus on creating the up most shareholder return while optimising a shared risk.
The company is now poised for strong upward movement with its quality assets as summarized on the website, particularly with the upcoming 2022 catalysts as outlined below:
Riverside's President and CEO, John-Mark Staude, stated: "We are excited by the good targets in Mexico and Canada and the strong team of people including our financing partners as we move ahead for an active first quarter of 2022 and throughout this coming year. Having strong treasury of over $5M with no warrants and no debt, Riverside has an excellent balance sheet as well as an ambitious technical outlook."
Upcoming Events:
Riverside Resources Inc. will be exhibiting in person at the AME Roundup Project Generators Hub from January 31 to February 3 and the PDAC in person event (March 7-9) and virtual show from March 8-11. Make sure to stop by our in person or virtual booths for both conferences and a detailed update on the Company's plans for the year ahead. Contact the company about this information if you are not able to attend the conference virtually through our contact information below.
AME Roundup | January 31st to February 3rd (In-Person and Virtual Event)
newsfilecorp.com
PDAC 2020 Virtual Convention | March 7th to 9th (In-Person)
newsfilecorp.com
Qualified Person & QA/QC:
The scientific and technical data contained in this news release was reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided this news release is accurate and who acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $5M in cash, no debt and less than 72M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside's own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company's website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
"John-Mark Staude"
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com
Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
relmajian@rivres.com
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., "expect"," estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks -- including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. |
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