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   Gold/Mining/EnergyMining News of Note

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To: LoneClone who wrote (162743)1/13/2022 12:32:23 PM
From: LoneClone
   of 169762
Callinex Issues Annual Letter to Shareholders

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.


"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:

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To: LoneClone who wrote (162744)1/13/2022 12:34:39 PM
From: LoneClone
   of 169762
Colibri Reports Purchase of RC Drill to Reduce Drilling Expenses and Expedite Exploration Work at Its Mexican Gold and Projects

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."


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:

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,

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    To: LoneClone who wrote (162745)1/13/2022 12:37:00 PM
    From: LoneClone
       of 169762

    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.


    "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






































































    Table 2: Historical Surface Samples Results



    Li (%)
























































































    Table 3: Channel Samples composites assays

















































































































































































    * 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: or (604) 375-6005

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    To: LoneClone who wrote (162746)1/13/2022 12:39:47 PM
    From: LoneClone
       of 169762
    U. S. Antimony Corporation Sets Zeolite Sales Records, Continues Company-wide Process Upgrades Program - Provides Operations Update

    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.


    Bear River Zeolite ("BRZ"):November


    Mined Tons1020


    Crushed Tons628


    Shipped Tons1290


    Madero Smelter:November


    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


    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.

    United States Antimony Corp.
    PO Box 643 47 Cox Gulch Rd.
    Thompson Falls, Montana 59873-0643
    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
       of 169762
    i-80 Launches Comprehensive Plan to Create Nevada Focused Gold Mining Company

    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

    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
       of 169762
    Wallbridge Adds Near Surface Mineralization in Area 51 and Extends Tabasco/Cayenne at Depth

    January 12, 2022

    View PDF

    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

    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 or contact:

    Wallbridge Mining Company Limited

    Marz Kord, P. Eng., M. Sc., MBA
    President & CEO
    Tel: (705) 682?9297 ext. 251

    Victoria Vargas, B.Sc. (Hon.) Economics, MBA
    Investor Relations Advisor

    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

    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
       of 169762
    Riverside Resources Corporate Outlook for 2022

    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:

    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)

    PDAC 2020 Virtual Convention | March 7th to 9th (In-Person)

    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


    "John-Mark Staude"

    Dr. John-Mark Staude, President & CEO

    For additional information contact:

    John-Mark Staude
    President, CEO
    Riverside Resources Inc.
    Phone: (778) 327-6671
    Fax: (778) 327-6675

    Raffi Elmajian
    Corporate Communications
    Riverside Resources Inc.
    Phone: (778) 327-6671
    TF: (877) RIV-RES1

    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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    To: LoneClone who wrote (162750)1/13/2022 1:45:10 PM
    From: LoneClone
       of 169762
    Capitan Mining Drills 35.1m of 0.42 g/t AuEq Including 4.6m of 1.1 g/t AuEq and Has Entered into an Agreement to Buyback All Outstanding Royalties at the Penoles Project

    Vancouver, British Columbia--(Newsfile Corp. - January 13, 2022) - Capitan Mining Inc. (TSXV: CAPT) ("Capitan" or the "Company") is pleased to report results for six reverse-circulation (RC) drill holes from the Capitan Hill oxide-gold deposit, at its 100%-owned Peñoles project in Durango, Mexico. In addition, management is also pleased to report that after several months of negotiation they have entered into a purchase agreement to acquire a portfolio of royalties including a 2% royalty on the Capitan Gold oxide deposit from Exploraciones Altiplano.


  • Drillhole CARC 21-48: returned 35.1m of 0.42 g/t Aueq including 4.6m of 1.1 g/t Aueq
  • Extends mineralization 170m down-dip from hole 21-CARC-25 on cross section -100
  • Royalty Buyback: Total purchase price of royalty portfolio is US $1.0M over two years, payable in cash and shares
  • The Altiplano royalty portfolio included a 2% net smelter royalty (NSR) on the Capitan Hill oxide-gold deposit
  • Any shares issued to Altiplano are subject to right of first refusal (ROFR) allowing Capitan to market and place shares with investors if Altiplano elects to sell
  • This transaction with Altiplano in combination with Capitan's contractual option to retire Riverside Resources 1% royalty for C$250,000 will leave the Peñoles project royalty free and will enhance overall project economics for investors
  • Drilling to resume in late January following holiday break
  • Assays for 11 drill holes are pending
  • Royalty Purchase Agreement

    Capitan Mining has entered into a purchase agreement to acquire all outstanding net smelter royalties (NSR's) on mining claims in the Peñoles project from Exploraciones del Altiplano, a private Mexican exploration company. The royalties covered a number of targets including the current gold-silver resource areas of Capitan and Jesús María. This included a 2% NSR on the Capitan Hill claims, 0.75% on claims covering the Jesús María, San Rafael, Pinchazo and Capitan 2 targets and 0.5% on third-party claims surrounding these targets. The total consideration for the transaction is US$1.0M, which will be paid 50% in cash and 50% in Capitan shares over a staged 2-year payment schedule. Capitan will also retain a right of first refusal (ROFR) on any shares distributed to Altiplano as consideration for the royalty purchase; allowing the company the opportunity to place Altiplano's shares, upon written notice from Altiplano of their intentions to sell.

    In addition to the royalties held by Altiplano, the Peñoles project has a 1% royalty owned by Riverside Resources which was created as part of the asset spinout in 2020. Capitan has the contractual option to purchase and retire the Riverside royalty for C$250,000 at any time.

    Capitan's CEO, Alberto Orozco, stated: "We are very happy to have completed the purchase of the Peñoles project royalty portfolio from Exploraciones Altiplano. This agreement paves the way for the project to be royalty-free and will benefit all shareholders going forward, as we evaluate the economics of the Capitan Hill oxide-gold deposit."

    Exploration update: Capitan Hill Oxide-Gold Deposit

    The results for the final 6 holes of the 2021 Phase 2 drill program at the Capitan Hill oxide-gold deposit are presented below. These drillholes consisted of both step-out drill holes located in the central and southeastern portion of the deposit as well as one infill hole located in the western portion of the deposit.

    Central and Southeast Step-out Holes

    Holes 21-CARC-44, 46, 47, 48 and 49 tested the down-dip extension of the Capitan zone in the central and southeast portion of the deposit, to extend both the Capitan main and Hanging wall zones to the south.

    Hole-21-CARC 48, was a 170m step-out on section -100, and was successful in extending mineralization on that respective section. The hole returned several, narrow, low-grade intervals over the first 200m of the hole, similar to adjacent holes that are on-strike and up-dip. Of particular significance, the hole returned the highest-grade interval to date in the southeastern portion of the Capitan deposit returning 35.1m of 0.42 g/t Aueq, including 4.6m of 1.1g/t Aueq. This interval occurred just before the hole terminated and is the deepest intersection of higher-grade mineralization to date at Capitan Hill. This intersection also supports the hypothesis that the holes above, may not have been drilled deep enough (zone was displaced to depth), given the position of mineralized interval in hole 21-CARC-48. (See Figures 1 & 2)

    Holes 21-CARC-44, 46, 47, and 49 were large step-out holes located on sections 100, -250, 200, and 000 respectively. These step-out holes were drilled between 75 and 175m down-dip from the previous holes on their respective sections. In general, these holes returned relatively narrow, low-grade intercepts that did not correlate well with mineralization returned in previous drilling located up-dip (see Table 1 below). Given that the holes above were all drilled in the same vicinity as one another, it is interpreted that there may be some displacement of the main zone down-dip, possibly related to the Santa Theresa fault, which the holes crossed before they reached their target depth. Of note: the above holes were terminated due to the depth capacity of the rig, and ground conditions.

    Figure 1: 2020-2021 Drill Hole Map at Capitan Hill Oxide-Gold Deposit

    To view an enhanced version of Figure 1, please visit:

    Figure 2: Cross Section

    To view an enhanced version of Figure 2, please visit:

    Strategic Infill

    Hole 21-CARC-45 is located on section 350 and was designed to twin a historic diamond drill hole that was not sampled adequately. The hole intersected both the Hanging Wall and Capitan Main zone and returned width and grades typical of the mineralization in that area. In total, 74.7m of gold mineralization was encountered at the Capitan Main Zone in two separate intervals, with the best interval returning 44.2m at 0.28 g/t Aueq.

    Summary of Phase 2 Program

    The 2021 Phase 2 drill program was focused on testing and expanding the continuity of oxide gold mineralization at the Capitan Hill deposit, to better define the boundaries of both the Capitan Main Zone, and the more poorly defined Hanging Wall Zone.

    Step-out drilling during the 2021 Phase 2 program, has significantly expanded the footprint of both the Hanging Wall and Capitan Main zone compared to the 2020 envelope (See Figure 3). Additionally, infill drilling has helped to define higher-grade shoots within the lower grade envelope in the central and western portions of the deposit.

    The Phase 2 program totals include 6,036m of drilling completed in 21 RC drillholes, bringing the total amount of drilling by Capitan to 12,208m. Drilling continues at Capitan's Penoles project and management will provide guidance in a separate press release in the coming week.

    Figure 3a: Expansion of mineralization at the Capitan Hill oxide-gold deposit (3D View)

    To view an enhanced version of Figure 3a, please visit:

    Figure 3b: Expansion of mineralization at the Capitan Hill oxide-gold deposit (3D View)

    To view an enhanced version of Figure 3b, please visit:

    Top Image (3a): Historic (Pre-2020) Drillhole Locations, showing >0.25 g/t Au Isosurface Outline and Dimensions.
    Bottom image (3b): Historic and 2020-21 Drillhole Locations, with current >0.25 g/t Au Isosurface Outline and Dimensions.

    Table 1. Table of Drill Results (Holes 44-49)

    Hole NameAz.DipSectionZoneFrom (m)To (m)Interval (m)AuEq (g/t) *Au (g/t)Ag (g/t)OX-SUL

    Interval2865100Capitan Main79.**OX

    Interval2855350Hanging Wall7.621.313.70.140.14NSV**OX

    Hanging Wall25.944.**OX

    Capitan Main114.3144.830.

    Capitan Main155.4199.644.

    Interval2860-250Hanging Wall0.013.713.70.160.16NSV**OX

    Hanging Wall19.822.**OX

    Interval2865200Capitan Main236.2239.

    Capitan Main254.5271.316.

    Interval2865-100Hanging Wall38.**OX

    Hanging Wall48.854.**OX

    Hanging Wall97.5105.**OX

    Capitan Main157.0160.**OX

    Capitan Main169.2173.**OX

    Capitan Main198.1202.**OX

    Capitan Main211.8228.616.80.170.17NSV**OX

    Capitan Main249.9266.716.

    Capitan Main280.4315.535.10.420.392.58MIX

    Capitan Main288.0292.

    Capitan Main297.2301.84.60.720.701.90OX

    Interval286500Hanging Wall42.745.**OX

    Note: Only drill intercept lengths are reported in the table. Drill holes are designed to cut the mineralized zones as close to true width as possible, with true widths ranging from 70-95% of the reported drilled length.
    * Gold equivalent calculated at 80:1 ratio
    **No significant values.

    Qualified Person & QA/QC:

    The scientific and technical data contained in this news release pertaining to the Peñoles Project was reviewed and approved by Marc Idziszek, P.Geo, a non-independent qualified person to Capitan Mining, who is responsible for ensuring that the technical information provided in this news release is accurate and who acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

    Capitan Mining Inc. has a Quality Assurance/Quality Control program that includes insertion and verification of control samples including standard reference material, blanks and duplicates consistent with industry standards.

    RC drill samples from the Peñoles Project are collected and split at the drill site using a Gilson Universal Splitter. The samples are stored in either plastic bags (dry) or micropore bags (wet) and secured with plastic zip-ties and then transported to the preparation laboratory of Bureau Veritas in Hermosillo, Sonora. The sample pulps are then transported to the Bureau Veritas' laboratory in Vancouver, where they are assayed for gold by fire assay with atomic absorption finish (FA430 assay method code; 0.005 to 10 ppm detection limit). Samples over 10 ppm Au are assayed with gravimetric finish (Assay code FA530). All samples are also assayed by ICP-ES (code AQ300) for a suite of 33 elements.

    All summarized intervals reported in this press release were calculated using a 0.10 ppm Au cut-off grade. Intervals contain no more than 3 metres of internal dilution. High grades have not been capped.

    About Capitan Mining Inc.:

    Capitan Mining is a well-funded junior exploration company focused on its 100% owned gold and silver Peñoles Project in Durango, Mexico. The company is led by a management team that has successfully advanced and developed several heap leach operations in Mexico over the past 16 years. More information for the Company can be found at


    "Alberto Orozco"

    Alberto Orozco, CEO

    For additional information contact:

    Alberto Orozco
    Capitan Mining Inc.
    Phone: (778) 327-6671
    Fax: (778) 327-6675

    Raffi Elmajian
    Corporate Communications
    Capitan Mining Inc.
    Phone: (604) 358-2601

    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 Capitan 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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    To: LoneClone who wrote (162751)1/13/2022 1:55:01 PM
    From: LoneClone
       of 169762
    Calibre Mining Completes Acquisition of Fiore Gold

    Calibre Mining Corp.
    Wed., January 12, 2022, 5:37 a.m.·2 min read

    VANCOUVER, British Columbia, Jan. 12, 2022 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) and Fiore Gold Ltd. (“Fiore”) (TSXV: F; OTCQB: FIOGF) are pleased to announce the successful completion of the previously announced transaction pursuant to which, among other things, Calibre acquired all of the issued and outstanding common shares of Fiore (the “Fiore Shares”) pursuant to a court-approved plan of arrangement (the “Arrangement”).

    Pursuant to the Arrangement, former Fiore shareholders received 0.994 of a Calibre common share (each whole share, a “Calibre Share”) and a cash payment of C$0.10 in exchange for each Fiore Share held. As a result of the Arrangement, Calibre issued an aggregate of 101,321,923 Calibre Shares and made an aggregate cash payment of approximately C$10.2 million. Upon closing of the Arrangement, existing Calibre and former Fiore shareholders own approximately 77% and 23% of the issued and outstanding Calibre Shares, respectively.

    As a result of the Arrangement, Calibre acquired a 100% interest in Fiore’s operating Pan Gold Mine, adjacent advanced-stage Gold Rock Project and the past producing Illipah Gold Project in Nevada, as well as the Golden Eagle project in Washington State.

    Delisting of the Fiore Shares

    Calibre intends to cause Fiore to delist the Fiore Shares from the TSX Venture Exchange, to submit an application to cease to be a reporting issuer and to otherwise terminate its public company reporting requirements as soon as possible thereafter. The Calibre Shares issued under the Arrangement are expected to be listed and posted for trading on the Toronto Stock Exchange.

    About Calibre Mining Corp.

    Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Nevada and Washington in the USA, and Nicaragua. Calibre is focused on delivering sustainable value for shareholders, local communities and all stakeholders through responsible operations and a disciplined approach to growth. With a strong balance sheet, no debt, a proven management team, strong operating cash flow, accretive development projects and district-scale exploration opportunities Calibre will unlock significant value.

    For further information, please contact:

    Ryan King
    SVP Corporate Development & IR
    T: 604.628.1010

    The Toronto Stock Exchange has neither reviewed nor accepts responsibility for the adequacy or accuracy of this news 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 news release.

    Cautionary Note Regarding Forward Looking Information

    This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs and current expectations of Calibre and Fiore with respect to future business activities and operating performance. All statements in this news release that address events or developments that Calibre and Fiore expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are often identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur, and include information regarding: (i) expectations regarding the potential benefits and synergies of the Arrangement and the ability of the combined company to successfully achieve business objectives, including integrating the companies or the effects of unexpected costs, liabilities or delays, (ii) expectations regarding the delisting of Fiore Shares from the TSX Venture Exchange and the listing of Calibre Shares issued under the Arrangement on the Toronto Stok Exchange, (iii) expectations regarding future exploration and development, growth potential for Calibre’s and Fiore’s operations, and (iv) expectations for other economic, business, and/or competitive factors.

    Calibre’s and Fiore’s forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management of Calibre and Fiore at such time. Calibre and Fiore do not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change other than as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, undue reliance should not be placed on forward-looking statements.

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    To: LoneClone who wrote (162752)1/13/2022 2:25:28 PM
    From: LoneClone
       of 169762
    Tinka Increases Scale of The High-Grade Copper-Gold Discovery at Silvia NW

    Thursday, January 13, 2022 6:00 AM

    VANCOUVER, BC / ACCESSWIRE January 13, 2022 / Tinka Resources Limited ("Tinka" or the "Company") (TSXV & BVL: TK) (OTCQB: TKRFF) is pleased to announce an exploration update at its 100% owned zinc-silver and copper-gold projects in Central Peru.


    Silvia NW copper-gold project:

    • Copper-gold mineralization at ‘Area A' has been significantly expanded with the discovery of high-grade copper-gold veins ("Skarn Veins") in limestone up to 100 metres across-strike from previously sampled mineralized skarn. The footprint of the skarn mineralization now covers an area of 550 metres by 400 metres including areas of shallow cover;
    • Skarn Veins grade up to 1.1% copper and 7.9 g/t gold from 17 grab and rock chip samples over intervals of 0.1 to 0.3 metres - individual samples range between 0.02% and 1.1% copper, and between 0.05 g/t and 7.4 g/t gold;
    • Previous sampling across the original skarn discovery outcrop at Area A included 46 metres at 1.9 g/t gold and 0.8% copper, including 6 metres at 2.7% copper and 12.8 g/t gold ( see release dated November 10, 2021);
    • A preliminary mineralogical study of a high-grade copper-gold sample from Area A shows that gold occurs as fine-grained native gold up to 20 microns in size inside chalcopyrite, while primary copper mineralization occurs almost entirely as chalcopyrite with trace amounts of late covellite;
    • At Silvia NW, Areas A, B and C define a potential footprint of 3 x 1 kilometres. Sampling results from Area B (including trenches and soils) are currently being collated and interpreted by our technical team;
    • Field work has commenced in preparation for an Environmental Impact Declaration (or "DIA") to obtain the necessary permits for drilling at Silvia NW.
    Ayawilca zinc-silver project:

    • The Company continues to advance its flagship Ayawilca zinc-silver project, following the update of the project's PEA in October 2021, which highlighted the potential for Ayawilca to become a global top-10 zinc producer (see PEA news release dated October 14, 2021). Tinka is planning a resource extension and definition drill program at South Ayawilca during the first half of 2022. Details of this program will be announced soon.
    Dr. Graham Carman, Tinka's President and CEO, stated: "Tinka's field work at Silvia NW continues to expand the scale of this exciting new copper-gold skarn prospect. The discovery of Skarn Veins in the limestone surrounding the original discovery outcrop is very important because it shows that the mineralized system is significantly wider than previously thought. Skarn deposits in Peru have formed some of the largest and highest-grade copper deposits in the world, prime examples being Antamina (a global top-10 copper mine) some 90 km to our north, and Las Bambas in southern Peru. A preliminary mineralogical study of the copper-gold mineralization at Silvia NW shows that copper occurs almost exclusively as chalcopyrite, while gold appears to occur mostly in the form of fine-grained native gold. Also, the mineralization at Zone A does not appear to contain significant levels of deleterious elements. Our team has continued its sampling and mapping program at Areas B and C, and we look forward to reporting progress once all results are received."

    "At our flagship Ayawilca zinc-silver project, a geological reinterpretation of near vertical structures discovered at South Ayawilca in 2020 suggests that there is further potential to expand the high-grade silver-lead-zinc mineralization. We are planning to commence a resource extension and definition drill program during the first half of 2022, which will include drill holes aimed at expanding this style of mineralization, " Dr. Carman continued.

    Updated Results at Silvia NW

    Tinka's exploration program at Silvia NW has focused on the mapping and sampling of Area A, believed to expose the deepest and highest grade portion of the skarn system along the 3 km x 1 km trend.

    Copper-gold mineralization at Area A lies in the base of a valley and has been mapped over a 550 metre by 400 metre area (see Geology map - Figure 2). Skarns are hosted by limestone of the Jumasha Formation (Cretaceous age) and within intrusive dikes (Tertiary age). Mineralized skarn is exposed in the central part of the area, surrounded by marble (recrystallized limestone). There are substantial areas of scree cover between outcrops of skarn, due to the steepness of the valley walls. Mineralized skarn is developed within both the limestone and intrusive dikes of quartz-feldspar-biotite porphyry. Multiple, subparallel structures orientated ENE-WSW and NE-SW, are believed to control the copper-gold mineralization.

    "Skarn Veins" reported here have been mapped and sampled in the surrounding limestones on the western and southern side of Area A, some 100 metres from outcrops of continuous skarn near the centre of the valley (previously trench sampled - see Figures 2 and 3). Skarn Veins are hosted in a north-south oriented garnet skarn measuring up to 50 metres in strike length and up to 20 metres in thickness, developed in Jumasha Formation limestone. Strongly mineralized veins, which are largely oxidized, have multiple orientations and individual thicknesses up to 0.3 metres.

    Skarn mineralization consists of garnet-magnetite-pyroxene-amphibole and other calcsilicates with chalcopyrite and pyrite. Copper mineralization occurs predominantly as chalcopyrite, while gold appears to occur mostly as native gold with possible telluride minerals (yet to be formally identified). The location and form of the Skarn Veins is shown in Figure 3. A photomicrograph of high-grade copper and gold mineralization from Area A, including native gold within chalcopyrite, is shown in Figure 4. Table 1 highlights the new copper-gold rock sample results from Area A.

    Table 1. New surface sampling results from Area A in this release

    Sample typeNo. of Samples

    Length m

    Cu %

    Au g/t

    Ag g/t














































    Skarn vein - selected1





    Skarn vein - selected1





    Skarn vein - selected1





    Skarn vein - selected1





    Figure 1 - Location of Silvia NW and Ayawilca Projects in central Peru

    Figure 2 - Area A, highlighting copper-gold trench and rock chip results

    Figure 3 - Area A, highlighting the discovery of Skarn Veins in limestone and high-grade Cu-Au trench results

    Figure 4 - Photomicrograph of gold - copper minerals in high grade sample from Area A

    Notes: Au = gold. cpII = chalcopyrite. TLRs_Bi = possible tellurides with bismuth. Bmt = Bismuthinite. GGs = gangue minerals (mostly garnet and calc-silicates)

    Notes on sampling and assaying

    Trenches were dug up to a depth of 1 metre, where possible, across areas of outcrop (partially weathered) to test the grade of skarn and adjacent limestone and intrusions. Trench samples are continuous samples collected with hammer and chisel over 1 to 2 metre intervals. In areas of sporadic outcrop, samples are taken as semi-continuous rock chips. Tinka believes that the trench samples are representative of the outcrop and are non-selective. Selective samples were collected across narrow mineralized structures and are not necessary representative. Samples were bagged and labelled in the field. Samples were sent to Certimin laboratory in Lima where samples were dried, crushed to 90% passing 2mm, then 1 kg pulverized to 85% passing 75 microns. Gold was analysed by fire assay on 30 g (method G0108) and multi-element analysis by ICP using multi-acid digestion (method G0176). Gold assays above 10 g/t Au were re-assayed by a high grade fire assay method and a gravimetric finish (method G0014). Copper assays over 1% Cu were re-assayed by atomic absorption (method G0039). Standards and blanks were not inserted by Tinka but were inserted at the laboratory.

    The Qualified Person, Dr. Graham Carman, Tinka's President and CEO, and a Fellow of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the technical contents of this release.

    On behalf of the Board,

    "Graham Carman"
    Dr. Graham Carman, President & CEO

    Further Information:
    Mariana Bermudez 1.604.685.9316

    About Tinka Resources Limited

    Tinka is an exploration and development company with its flagship property being the 100%-owned Ayawilca zinc-silver-tin project in central Peru. The Zinc Zone deposit has an estimated Indicated Mineral Resource of 19.0 Mt @ 7.15% Zn, 16.8 g/t Ag & 0.2% Pb and Inferred Mineral Resource of 47.9 Mt @ 5.4% Zn, 20.0 g/t Ag & 0.4% Pb (dated August 30, 2021 - see news release). The Ayawilca Tin Zone has an estimated Inferred Mineral Resource of 8.4 Mt grading 1.0% Sn. Tinka holds 46,000 hectares of mining claims in Central Peru, one of the largest holders of mining claims in the belt. Tinka is actively exploring for copper-gold skarn mineral deposits at its 100%-owned Silvia project.

    Forward Looking Statements: Certain information in this news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws (collectively "forward-looking statements"). All statements, other than statements of historical fact are forward-looking statements. Forward-looking statements are based on the beliefs and expectations of Tinka as well as assumptions made by and information currently available to Tinka's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations: timing of planned work programs and results varying from expectations; delay in obtaining results; changes in equity markets; uncertainties relating to the availability and costs of financing needed in the future; equipment failure, unexpected geological conditions; imprecision in resource estimates or metal recoveries; success of future development initiatives; competition and operating performance; environmental and safety risks; the Company's expectations regarding the Ayawilca Project PEA; the political environment in which the Company operates continuing to support the development and operation of mining projects; risks related to negative publicity with respect to the Company or the mining industry in general; the threat associated with outbreaks of viruses and infectious diseases, including the novel COVID-19 virus; delays in obtaining or failure to obtain necessary permits and approvals from local authorities; community agreements and relations; and, other development and operating risks. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Although Tinka believes that assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Except as may be required by applicable securities laws, Tinka disclaims any intent or obligation to update any forward-looking statement.

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

    SOURCE: Tinka Resources Ltd.

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