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   Gold/Mining/EnergyMining News of Note


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To: LoneClone who wrote (162762)1/13/2022 2:58:14 PM
From: LoneClone
   of 168835
 
Hot Chili: Wide & Shallow Copper-Gold Results Lift Cortadera’s Open Pit Potential

ca.finance.yahoo.com

Thu., January 13, 2022, 5:00 a.m.·16 min read

Perth, Australia --News Direct-- Hot Chili Limited

Highlights
  • New drill results from the Cortadera copper-gold porphyry deposit in Chile confirm growth of shallow resources at both Cuerpo 1and 2. These include:

  • CRP0148 - 156m grading 0.4% CuEq* (0.4% copper (Cu), 0.1g/t gold (Au)) from surface, including 32m grading 0.6%CuEq* (0.5% copper (Cu), 0.2g/t gold (Au))from 90m depth

    CRP0183 - 80m grading0.4% CuEq* (0.4% copper (Cu),0.1g/t gold (Au)) from 10m depth including 12m grading0.6%CuEq* (0.6% copper (Cu), 0.1g/t gold (Au)) from 44m depth

    CRP0178 - 72m grading0.4% CuEq* (0.4% copper (Cu), 0.1g/t gold (Au)) from surface including 28m grading0.7%CuEq* (0.7% copper (Cu), 0.1g/t gold (Au)) from surface

    CRP0176 - 114m grading 0.3% CuEq* (0.3% copper (Cu), 0.1g/t gold (Au)) from surface including 24m grading0.6%CuEq* (0.6% copper (Cu), 0.1g/t gold (Au)) from surface

    CRP0158 - 62m grading0.4% CuEq* (0.4% copper (Cu), 0.1g/t gold (Au)) from 4m depth including 18m grading0.7%CuEq (0.6% copper (Cu), 0.2g/t gold (Au)) from 26m depth

  • Exploration drilling commenced across the Productora central porphyry target, immediately adjacent to the Productora Mineral Resource – several large copper-gold targets scheduled for testing this year

  • Further assay results from Cortadera being compiled for release in advance of a major resource upgrade in Q1 this year, following over 46,000m of additional drilling completed in 2021





  • Hot Chili Limited (ASX: HCH) (TSXV:HCH) (OTCQB: HHLKF) (“Hot Chili” or “Company”) is pleased to announce that recent drill results from its Cortadera copper-gold discovery continue to expand the deposit ahead of a global resource upgrade for the Company’s Costa Fuego coastal copper development in Chile.

    Three months of drilling results from the end of the Company’s 2021 drilling campaign at Cortadera are being compiled and further announcements are expected.

    Hot Chili’s Managing Director, Christian Easterday, said 2022 is shaping up to be an exciting year following a very strong set of achievements in 2021.

    “We commence the year with $34 million in treasury, 100 percent ownership of Cortadera, Glencore as a strategic investor and our Company now consolidated and dual-listed in Canada.

    “It is pleasing to see further growth in Cortadera’s open pit potential with these new drill results and we look forward to announcing further results soon.

    “A resource upgrade this quarter and a combined pre-feasibility study in the third quarter will position Costa Fuego as a production front-runner in the senior copper development space this year.

    “In addition, we have kicked off our next phase of growth, with first drilling well underway across the first of several large exploration targets we will be testing this year, all capable of materially lifting the scale and economics of Costa Fuego even further.”

    New Drill Results Expand Shallow Resource Potential at Cortadera

    Drilling in late 2021, focussed on expanding any remaining open flanks on each of Cortadera’s three porphyries and completing required in-fill drill holes for upgrading resource classification.

    Initial results analysed from shallow Reverse Circulation (RC) drilling across Cuerpo 1 and Cuerpo 2 has confirmed wide intersections of copper-gold mineralisation from surface across both porphyries.

    Cuerpo 2 has recorded some of the highest grade copper results at Cortadera and the recent campaign to delineate the shallow mineralisation has proven successful. Expansion of the +0.4% CuEq mineralisation from surface was bolstered by several drillholes, particularly to the south and east of Cuerpo 2.

    So far, up to five drillholes have recorded significant intercepts of +0.3% CuEq mineralisation at a maximum of 36 m downhole with the majority from less than 10 m downhole. This material is predominately within the oxidised weathering zone and suggests that an expansion of the +0.4% Cu material laterally and vertically is likely at Cuerpo 2.

    In addition, several wide intersections of mineralisation were recorded across Cuerpo 1, further expanding the +0.3 CuEq* mineralisation extent.

    2022 Drilling Campaign Underway

    Hot Chili has commenced an initial 20,000m exploration drilling programme to test several prioritised, large copper-gold targets within its combined Costa Fuego landholding in Chile.

    RC drilling commenced in late December 2021 across the Productora central target, located immediately adjacent to the Productora resource and measuring 1.2km by 1.0km in dimension.

    Three of eight first-pass RC drill holes are complete, and several diamond hole extensions are planned once RC drill results are received.

    Additional targets located within the consolidated Costa Fuego landholdings (Productora, Santiago Z and El Fuego) are scheduled for drilling over the coming months. The Company has received regulatory approval for platform clearing at Santiago Z, which is planned to commence in the coming month.

    In addition, drilling is planned across multiple extensional targets located within the Cortadera landholding, outside of the Cortadera resource window.

    All priority targets have been selected based on their potential to add further bulk tonnage scale to the Costa Fuego development or alternatively provide higher grade ore sources for early production.

    News Flow and Key Catalysts in 2022

    Hot Chili is fully funded for 18 months to accelerate its growth and development plan for Costa Fuego. The Company expects to provide further news flow over the coming weeks, including:

    Further Cortadera drilling results being received, reviewed and compiled from 2021 resource drilling.

    Development study updates related to advances in mining optimisations and metallurgical workstreams for the Costa Fuego combined Pre-feasibility study,

    Corporate updates, and

    Exploration drilling updates as results are received Key

    Catalysts expected this year include:

    1. Global Mineral Resource upgrade for Costa Fuego expected in Q1

    2. Off-take agreement with Glencore (60% of first 8 years of production) expected in Q1

    3. Pre-feasibility study for Costa Fuego expected in Q3

    This announcement is authorised by the Board of Directors for release to ASX. For more information please contact:

    Christian Easterday

    Tel: +61 8 9315 9009

    Managing Director – Hot Chili

    Email: christian@hotchili.net.au

    Penelope Beattie

    Tel: +61 8 9315 9009

    Company Secretary – Hot Chili

    Email: Penelope@hotchili.net.au

    ASX Investor

    Investor & Public Relations (Australia)

    Email: eliza@asxinvestor.com.au

    Harbor Access LLC

    Email:Graham.Farrell@harboraccessllc.com

    Investor & Public Relations (Canada)

    Email:jonathan.paterson@harboraccessllc.com


    or visit Hot Chili’s website at www.hotchili.net.au

    Table 1 New Significant RC Drill Results at Cortadera


    Coordinates

    Azim

    Dip

    Hole

    Intersection

    Interval

    Copper

    Gold

    Silver

    Molybdenum

    Cu Eq

    Hole_ID

    Depth


    North

    East

    RL




    From

    To

    (m)

    (% Cu)

    (g/t Au)

    (ppm Ag)

    (ppm Mo)

    (% Cu Eq)

    CRP0148

    6813870

    335545

    993

    84

    -61

    252

    0

    252

    252

    0.3

    0.1

    0.6

    4

    0.4






    including


    0

    156

    156

    0.4

    0.2

    0.8

    5

    0.4






    or










    including

    90

    122

    32

    0.5

    0.2

    0.9

    2

    0.6

    CRP0149

    6813791

    335636

    1009

    10

    -58

    266

    112

    204

    92

    0.3

    0.1

    0.4

    3

    0.3

    CRP0151

    6813865

    335540

    992

    169

    -75

    162

    0

    124

    124

    0.2

    0.1

    0.5

    15

    0.3

    CRP0152

    6813938

    335679

    982

    180

    -60

    162

    10

    158

    148

    0.2

    0.1

    0.5

    10

    0.2

    CRP0153

    6813959

    335619

    977

    31

    -60

    102

    36

    86

    50

    0.3

    0.1

    0.5

    18

    0.3

    CRP0154

    6813959

    335619

    977

    321

    -60

    168

    8

    114

    106

    0.2

    0.1

    0.4

    17

    0.2

    CRP0158

    6813926

    335491

    977

    200

    -60

    150

    4

    66

    62

    0.4

    0.1

    0.6

    11

    0.4






    including


    26

    44

    18

    0.6

    0.2

    1

    3

    0.7

    CRP0176

    334831

    6814172

    953

    143

    -71

    252

    0

    114

    114

    0.3

    0.1

    0.6

    46.8

    0.3






    including


    0

    24

    24

    0.6

    0.1

    1.2

    7.7

    0.6

    CRP0177

    334735

    6814270

    976

    10

    -60

    294

    14

    34

    20

    0.3

    0.1

    0.5

    34

    0.3

    CRP0178

    334834

    6814171

    953

    210

    -70

    312

    0

    72

    72

    0.4

    0.1

    0.8

    46

    0.4






    including


    0

    28

    28

    0.7

    0.1

    1.5

    17

    0.7

    CRP0183

    334935

    6814283

    960

    257

    -74

    234

    10

    90

    80

    0.4

    0.1

    0.8

    8

    0.4






    including


    44

    56

    12

    0.6

    0.1

    1.1

    12

    0.6







    and

    192

    214

    22

    0.3

    0

    0.7

    28

    0.3

    CRP0184

    334814

    6814328

    957

    199

    -75

    150

    0

    80

    80

    0.2

    0.1

    0.3

    3

    0.2







    and

    124

    150

    26

    0.4

    0.1

    1.2

    2

    0.4


    Significant intercepts are calculated above a nominal cut-off grade of 0.2% Cu. Where appropriate, significant intersections may contain up to 30m down-hole distance of internal dilution (less than 0.2% Cu). Significant intersections are separated where internal dilution is greater than 30m down-hole distance. The selection of 0.2% Cu for significant intersection cut-off grade is aligned with marginal economic cut-off grade for bulk tonnage polymetallic copper deposits of similar grade in Chile and elsewhere in the world.

    Down-hole significant intercept widths are estimated to be at or around true-widths of mineralisation

    * Copper Equivalent (CuEq) reported for the drill holes were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery)+(Mo ppm × Mo price per g/t × Mo_recovery)+(Au ppm × Au price per g/t × Au_recovery)+ (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,550 USD/oz, Mo=12 USD/lb, and Ag=18 USD/oz. Average Metallurgical Recoveries used were: Cu=83%, Au=56%, Mo=82%, and Ag=37%



    Figure 1 Location of Productora and the Cortadera discovery in relation to the coastal range infrastructure of Hot Chili's combined Costa Fuego copper project, located 600km north of Santiago in ChileRefer to ASX Announcement “Costa Fuego Becomes a Leading Global Copper Project” (12th October 2020) for JORC Table 1 information related to the Cortadera JORC compliant Mineral Resource estimate by Wood and the Productora re-stated JORC compliant Mineral Resource estimate by AMC Consultants

    * Copper Equivalent (CuEq) reported for the resource were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery)+(Mo ppm × Mo price per g/t × Mo_recovery)+(Au ppm × Au price per g/t × Au_recovery)+ (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,550 USD/oz, Mo=12 USD/lb, and Ag=18 USD/oz. For Cortadera (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=56%, Mo=82%, and Ag=37%. For Productora (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=43% and Mo=42%. For Costa Fuego (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=51%, Mo=67% and Ag=23%.

    ** Reported on a 100% Basis - combining Cortadera and Productora Mineral Resources using a +0.25% CuEq reporting cut-off grade



    Figure 2 Plan view across the Cortadera discovery area displaying the location of new RC drill results (cyan) in relations to significant historical copper-gold DD intersections across Cuerpo 1, 2, and 3 tonalitic porphyry intrusive centres (represented by modelled copper envelopes, yellow- +0.1% Cu and magenta +0.4% Cu).



    Figure 3 Plan view across the Cuerpo 1 of the Cortadera discovery area displaying significant copper-gold DD intersections since the October 2020 resource estimate. The plan view displays the Mineral Resource extents (represented by modelled copper envelope, yellow- +0.1% Cu). Note the new significant results reported including CRP0183, CRP0176 and CRP0178. All new results are shown by cyan collars.



    Figure 4 Plan view across the Cuerpo 2 of the Cortadera discovery area displaying significant copper-gold DD intersections since the October 2020 resource estimate. The plan view displays the Mineral Resource extents (represented by modelled copper envelope, yellow- +0.1% Cu). Note the new significant results reported including CRP0158, and CRP0148. All new results are shown by cyan collars.



    Figure 5 View across Productora resource looking SE. The figure displays the location of the Productora Central target where first-pass RC drilling is underway

    Qualifying StatementsThe Mineral Resource summary for the Costa Fuego Project is presented in the following tables.

    Productora Mineral Resource Summary - reported by classification (open pit, using +0.25% CuEq cut-off grade), 28 October 2021



    Reported at or above 0.25% CuEq*. Figures in the above table are rounded, reported to appropriate significant figures, and reported in accordance with CIM and NI-101. Metal rounded to nearest thousand, or if less, to the nearest hundred.

    Copper Equivalent (CuEq) reported for the resource were calculated using the following formula:: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery)+(Mo ppm × Mo price per g/t × Mo_recovery)+(Au ppm × Au price per g/t × Au_recovery)+ (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1 % per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,550 USD/oz, Mo=12 USD/lb, and Ag=18 USD/oz. For Productora (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=43% and Mo=42%

    Cortadera Mineral Resource Summary – reported by classification (using +0.25% CuEq cut-off grade) and by open pit (top), underground (middle) and total (bottom), 28th October 2021







    Reported at or above 0.25% CuEq*. Figures in the above table are rounded, reported to appropriate significant figures, and reported in accordance with CIM and NI 43-101. Metal rounded to nearest thousand, or if less, to the nearest hundred.

    Copper Equivalent (CuEq) reported for the drill holes were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery)+(Mo ppm × Mo price per g/t × Mo_recovery)+(Au ppm × Au price per g/t × Au_recovery)+ (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,550 USD/oz, Mo=12 USD/lb, and Ag=18 USD/oz. Average Metallurgical Recoveries used were: Cu=83%, Au=56%, Mo=82%, and Ag=37%

    ** Note: Silver (Ag) is only present within the Cortadera Mineral Resource estimate

    Competent Person’s Statement- Exploration Results

    Exploration information in this Announcement is based upon work compiled by Mr Christian Easterday, the Managing Director and a full-time employee of Hot Chili Limited whom is a Member of the Australasian Institute of Geoscientists (AIG). Mr Easterday has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a ‘Competent Person’ as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code). Mr Easterday consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

    Competent Person’s Statement- Productora Mineral Resources

    The information in this Announcement that relates to the Productora Project Mineral Resources, is based on information compiled by Mr N Ingvar Kirchner. Mr Kirchner is employed by AMC Consultants (AMC). AMC has been engaged on a fee for service basis to provide independent technical advice and final audit for the Productora Project Mineral Resource estimates. Mr Kirchner is a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM) and is a Member of the Australian Institute of Geoscientists (AIG). Mr Kirchner has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (the JORC Code 2012). Mr Kirchner consents to the inclusion in this report of the matters based on the source information in the form and context in which it appears.

    Competent Person’s Statement- Cortadera and Costa Fuego Mineral Resources

    The information in this report that relates to Mineral Resources for the Cortadera and combined Costa Fuego Project is based on information compiled by Elizabeth Haren, a Competent Person who is a Member and Chartered Professional of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Elizabeth Haren is employed as an associate Principal Geologist of Wood, who was engaged by Hot Chili Limited. Elizabeth Haren has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Elizabeth Haren consents to the inclusion in the report of the matters based on her information in the form and context in which it appears. For further information on the Costa Fuego Project, refer to the technical report titled "Resource Report for the Costa Fuego Technical Report", dated December 13, 2021, which is available for review under Hot Chili's profile at www.sedar.com.

    Reporting of Copper Equivalent

    Copper Equivalent (CuEq) reported for the resource were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery)+(Mo ppm × Mo price per g/t × Mo_recovery)+(Au ppm × Au price per g/t × Au_recovery)+ (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1 % per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,550 USD/oz, Mo=12 USD/lb, and Ag=18 USD/oz. For Cortadera (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=56%, Mo=82%, and Ag=37%. For Productora (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=43% and Mo=42%. For Costa Fuego (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=51%, Mo=67% and Ag=23%.

    Forward Looking Statements

    This Announcement is provided on the basis that neither the Company nor its representatives make any warranty (express or implied) as to the accuracy, reliability, relevance or completeness of the material contained in the Announcement and nothing contained in the Announcement is, or may be relied upon as a promise, representation or warranty, whether as to the past or the future. The Company hereby excludes all warranties that can be excluded by law. The Announcement contains material which is predictive in nature and may be affected by inaccurate assumptions or by known and unknown risks and uncertainties and may differ materially from results ultimately achieved.

    The Announcement contains “forward-looking statements”. All statements other than those of historical facts included in the Announcement are forward-looking statements including estimates of Mineral Resources. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, copper, gold and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade recovery rates from those assumed in mining plans, as well as political and operational risks and governmental regulation and judicial outcomes. The Company does not undertake any obligation to release publicly any revisions to any “forward-looking statement” to reflect events or circumstances after the date of the Announcement, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. All persons should consider seeking appropriate professional advice in reviewing the Announcement and all other information with respect to the Company and evaluating the business, financial performance and operations of the Company. Neither the provision of the Announcement nor any information contained in the Announcement or subsequently communicated to any person in connection with the Announcement is, or should be taken as, constituting the giving of investment advice to any person

    Disclaimer

    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.

    Appendix 1. JORC Code Table 1 for CortaderaSection 1 Sampling Techniques and Data

    Criteria

    JORC Code explanation

    Commentary

    Sampling techniques

    Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.

    Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

    Aspects of the determination of mineralisation that are Material to the Public Report.

    In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.

    Drilling undertaken by Hot Chili Limited (“HCH” or “the Company”) includes both Diamond and Reverse Circulation (RC). Drilling has been carried out under Hot Chili (HCH) supervision by an experienced drilling contractor (BlueSpec Drilling).

    The majority of DD drilling completed by HCH comprises RC pre-collars to an average depth of 300), followed by HQ3 DD core to an average depth of 660m, followed by NQ2 DD core at depths greater than approximately 660 metres.

    Samples were obtained using both reverse circulation (RC) and diamond drilling (DD).

    RC drilling produced a 1m bulk sample and representative 2m cone split samples (nominally a 12.5% split) were collected using a cone splitter, with sample weights averaging 5 kg.

    Geological logging was completed, and mineralised sample intervals were determined by the geologists to be submitted as 2m samples for RC. In RC intervals assessed as unmineralised, 4m composite (scoop) samples were collected for analysis. If these 4m composite samples return results with anomalous grade the corresponding original 2m split samples are then submitted to the laboratory for analysis.

    HQ3 and NQ2 diamond core were drilled on a 3m run. The core was cut using a manual core-saw and half core samples were collected on 2m intervals.

    Both RC and DD samples were crushed and split at the laboratory, with up to 1kg pulverised, and a 150g pulp sample analysed by industry standard methods - ICP-OES (33 element, 4 acid digest) and Au 30 gram fire assay.

    Sampling techniques used are deemed appropriate for exploration and resource estimation purposes for this style of deposit and mineralisation.

    Data compiled from historical drilling has been collated from documents supplied by SCM Carola.

    All historical drilling was diamond core (DD) from surface. Historical diamond sampling was predominantly HQ3 half core. 99% of the sample data comprises 2m composited samples (taken at 2m intervals).

    Assay techniques for legacy data comprise 30g fire assay for gold, and for copper, either 4-acid or 3-acid digest followed by either an ICP-OES, ICP-MS, ICP-AAS or HF-ICP-AES.

    HCH has verified as much as possible the location, orientation, sampling methods, analytical techniques, and assay values of legacy data. HCH has completed a review of SCM Carola QA/QC data with no issues detected in that review.

    Drilling techniques

    Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).

    HCH drilling consisted of RC with face sampling bit (140 to130mm diameter) ensuring minimal contamination during sample extraction.

    HCH DD drilling uses NQ2 bits (50.5mm internal diameter) and HQ3 bits (61.24mm internal diameter). DD core was oriented using a Reflex ACT III RD tool. At the end of each run, the low side of the core was marked by the drillers and this was used at the site for marking the whole drill core with a reference line.

    Historical DD drilling used HQ bits (61.24mm internal). Historical drill core was not oriented.

    Drill sample recovery

    Method of recording and assessing core and chip sample recoveries and results assessed.

    Core recovery was measured and recorded continuously from the start of core drilling to the end of the hole for each drill hole. The end of each 3m length run was marked by a



    Measures taken to maximise sample recovery and ensure representative nature of the samples.

    Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

    core block which provided the depth, the core drilled and the core recovered. Generally, the core recovery was >99%

    All DD drilling utilised HQ3 and NQ2 core with sampling undertaken via half core cutting and 2m sample intervals.

    Drilling techniques to ensure adequate RC sample recovery and quality included the use of “booster” air pressure. Air pressure used for RC drilling was 700-800psi.

    Logging of all samples followed established company procedures which included recording of qualitative fields to allow discernment of sample quality. This included (but was not limited to) recording: sample condition (wet, dry, moist), sample recovery (poor, moderate, good), sample method (RC: scoop, split; DD core: half, quarter, whole).

    The majority of HCH drilling had acceptable documented recovery and expectations on the ratio of wet and dry drilling were met, with no bias detected between the differing sample conditions.

    Historical DD core recovery has not been quantitatively assessed. However, inspection of core photography has been undertaken, with good core recovery observed, and no material issues noted.

    Methods taken to maximise historical sample recovery, quality and condition are unknown, however it is noted that the drill method (HQ3 DD) is consistent with best practice for sample recovery. No analysis of historical samples weights, sample condition or recovery has been undertaken.

    Twin analysis of RC and DD drilling has identified a slight sample bias. RC samples appear to display a negative bias for assay results, meaning that RC samples appear to under call the assay grades. This is not yet fully understood or confirmed, and requires further analysis and investigation with future twin holes.

    Logging

    Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

    Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

    The total length and percentage of the relevant intersections logged.

    HCH Drilling: Detailed descriptions of RC chips and diamond core were logged qualitatively for lithological composition and texture, structures, veining, alteration and copper speciation. Visual percentage estimates were made for some minerals, including sulphides.

    Geological logging was recorded in a systematic and consistent manner such that the data was able to be interrogated accurately using modern mapping and 3D geological modelling software programs. Field logging templates were used to record details related to each drill hole.



    Historical Drilling: Geological logs were provided as part of historical data from SCM Carola. These logs have been reviewed and are deemed to be of an appropriate standard. HCH has also completed a verification and re-logging programme of historical diamond drill core and has aligned the codification of both generations of geological data to one unified coding system.



    Core reconstruction and orientation was completed where possible prior to structural and geotechnical observations being recorded. The depth and reliability of each orientation mark is also recorded.



    All logging information is uploaded into an acQuire™ database which ensures validation criteria are met upon upload.

    Sub- sampling techniques and sample preparation

    If core, whether cut or sawn and whether quarter, half or all core taken.

    If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

    HQ3 (85mm) and NQ2 (63.5mm) diamond core was sawn in half, with half core collected in a bag and submitted to the laboratory for analysis, the other half was retained in the tray and stored. All DD core was sampled at 2m intervals.

    RC drilling was sampled at two metre intervals by a fixed cone splitter with two nominal 12.5% samples taken: with the primary sample submitted to the laboratory, and the second sample retained as a field duplicate sample. Cone splitting of RC drill samples occurred regardless of the sample condition. RC drill sample weights range from 0.6kg to 17kg, but typically average 5kg.

    All HCH samples were submitted to ALS Coquimbo (Chile) for multi-element analysis. The sample preparation included:

    DD half core and RC samples were weighed, dried and crushed to 70% passing 2 mm and then split using a rotary splitter to produce a 1kg sub-sample. The crushed sub-


    For all sample types, the nature, quality and appropriateness of the sample preparation technique.


    Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.


    Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.


    Whether sample sizes are appropriate to the grain size of the material being sampled.




    sample was pulverised with 85% passing 75 µm using a LM2 mill and a 110 g pulp was then subsampled, 20 g for ICP and 90g for Au fire assay analysis.

    ALS method ME-ICP61 involves a 4-acid digestion (Hydrochloric-Nitric-Perchloric-Hydrofluoric) followed by ICP- AES determination.

    Samples that returned Cu grades >10,000ppm were analysed by ALS “ore grade” method Cu-AA62, which is a 4- acid digestion, followed by AES measurement to 0.001%Cu.

    Samples determined by geologists to be either oxide or transitional were also analysed by Cu-AA05 method to determine copper solubility (by sulphuric acid).

    Pulp samples were analysed for gold by ALS method Au- ICP21; a 30g lead-collection Fire Assay, followed by ICP- OES to a detection limit of 0.001ppm Au.

    Historical half DD core was routinely sampled on 2m intervals. All samples were submitted to accredited laboratories- ACTLAB, ACME Labs (now Bureau Veritas), ALS Global and Andes Analytical Assay.

    Typical analysis methods used for historical samples included;

    For copper and multi-element; either 4-acid or 3-acid digest followed by either an ICP-MS, ICP-AAS, or a HF digest with ICP-AES. E.g. ACTLAB method 3ACID-AAS, ALS method Cu-AA61, Andes Analytical Assay method (4A-AAS1E01 or ICP_AES_HH22).

    Gold grades were analysed for Fire Analysis (30g charge).

    E.g. ACTLABS method FA-AAS, ALS method Au-AA23, Andes Analytical Assay method AEF_AAS1EE9.

    HCH has verified historical sampling methods, analytical techniques, and assay values with no material issues identified.

    Field duplicates were collected for RC drill samples at a rate of 1 in 50 drill meters ie. 1 in every 25 samples (when 2m sampling intervals observed). The procedure involves placing a second sample bag on the cone splitter to collect a duplicate sample.

    Field duplicates for DD samples were submitted at a rate of 1 in 50 drill metres (ie. 1 in 25 samples). The procedure involves cutting the half core and the lab (instructed by Hot Chili) collected a second coarse duplicate sample after the initial crushing process of the original sample. Crushed samples were split into two halves, with one half flagged as the original sample and the other half flagged as the duplicate sample.

    Review of duplicate results indicates that there is good correlation between the primary and duplicate assay values, implying that the selected sample size is reasonable for this style of mineralisation.

    The selected sample sizes and sample preparation techniques are considered appropriate for this style of mineralisation, both for exploration purposes and MRE.

    Quality of assay data and laboratory tests

    The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

    For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.

    Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

    All HCH drill samples were assayed by industry standard methods through accredited laboratories in Chile. Typical analytical methods are detailed in the previous section and are considered ‘near total’ techniques.

    HCH undertakes several steps to ensure the quality control of assay results. These include, but are not limited to, the use of duplicates, certified reference material (CRM) and blank media:

    Routine ‘standard’ (mineralised pulp) Certified Reference Material (CRM) was inserted at a nominal rate of 1 in 25 samples.

    Blank certified material is inserted every 100 samples (Coarse unmineralised quartz) at the logging geologist’s discretion- with particular weighting towards submitting blanks immediately following mineralised field samples. Routine field duplicates for RC and DD samples were submitted at a rate of 1 in 25 samples.

    Analytical laboratories provided their own routine quality controls within their own practices. No significant issues have been noted.




    All results are checked in the acQuire™ database before being used, and analysed batches are continuously reviewed to ensure they are performing within acceptable tolerance for the style of mineralisation. Any QC failures require the batch to be re-analysed prior to acceptance into the database.

    No umpire laboratory checks have been undertaken by HCH. It is a recommendation of the MRE that umpire checks be completed.

    Assessment of historical QA/QC data was undertaken as part of the MRE. CRM and duplicate assay data were reviewed with no significant issues identified. Umpire laboratory checks were undertaken on historical drilling, however the results of this have not yet been assessed. Historical assay data comprised approximately 10% QA/QC data.

    Verification of sampling and assaying

    The verification of significant intersections by either independent or alternative company personnel.

    The use of twinned holes.

    Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

    Discuss any adjustment to assay data.

    All DD sample intervals were visually verified using high quality core photography, with selected samples taken within mineralised intervals for petrographic and mineragraphic microscopy.

    All assay results have been compiled and verified by an independent database consultant to ensure veracity of assay results and the corresponding sample data. This includes a review of QA/QC results to identify any issues prior to incorporation into the Company’s geological database.



    No adjustment has been made to assay data following electronic upload from original laboratory certificates to the database. Where samples returned values below the detection limit, these assay values were set to half the lowest detection limit for that element for the purposes of MRE.



    The capture of drill logging data was managed by a computerised system and strict data validation steps were followed. The data is stored in a secure acQuire™ database with access restricted to an external database manager.



    Documentation of primary data, data entry procedures, data verification and data storage protocols have all been validated through internal database checks and by a third- party audit as part of the Cortadera MRE.



    Visualisation and validation of drill data was also undertaken in 3D through the use of multiple software packages- Surpac, Datamine and Leapfrog with no errors detected.



    Twinned drilling was completed by HCH, to compare the results of RC samples to historical HQ DD samples. Four sets of twin drill holes were completed, with no appreciable assay variance observed between the different drilling and associated sampling methodologies.



    A slight negative bias was observed for RC samples in select intervals, however overall, the twin hole assay results correlated well for both techniques. This supports the use of both RC or DD samples as being representative and appropriate for mineral exploration and resource estimation for this style of mineralisation.



    Hot Chili has undertaken quarter core duplicate sampling across selected intervals of historical half DD core and its own DD core to test assay repeatability and to provide metallurgical samples.



    An analysis of field duplicate samples was undertaken, with results from duplicates returned within acceptable range for this type of mineralisation and for classification of the MRE. The comparison showed no evidence of bias, with a robust correlation achieved between duplicate samples.



    All retained core and pulp samples are stored in a secured site and are available for verification if required.

    Location of data points

    Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

    Specification of the grid system used. Quality and adequacy of topographic control.

    The WGS84 UTM zone 19S coordinate system was used for all undertakings.

    Drill hole collar locations were surveyed on completion of each drill hole using a handheld Garmin GPS with an accuracy of +/-5 m. On completion of each HCH drill campaign an independent survey company was contracted to survey drill collar locations using a CHCNAV model i80 Geodetic GPS, dual frequency, Real Time with 0.1cm accuracy.



    Drill collar survey methods used by SCM Carola are unknown, however all collars were located by HCH and have been surveyed using the same method as HCH drilling.



    Downhole surveys for HCH drilling were completed by the drilling contractor every 30m using an Axis Champ Navigator north seeking gyroscope tool. Downhole surveys for historical drilling were completed every 10m by gyroscope. Exact specifications for the gyroscope tool are unknown.

    Some drill holes could not be surveyed due to downhole blockages, these holes used planned survey or compass bearing/ dip measurements for survey control, and the majority of these holes lie outside of the resource area.

    The topographic model used at Cortadera is deemed adequate for topographic control. It comprises a high resolution topographical elevation model as supplied by SCM Carola.

    Validation of the final topographical model used for resource estimation was completed via visual validation against: high resolution drone orthophotography, drill collars, and known infrastructure (roads, tenement pegs etc.)

    Topography at the project ranges from ~900m to 1050m ASL.

    PSAD56 zone 19S coordinate system was used for all historical undertakings, with all data since converted to WGS84 zone 19S.

    Data spacing and distribution

    Data spacing for reporting of Exploration Results.

    Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

    Whether sample compositing has been applied.

    Drill spacing is nominally 80 metres across strike by 80 metres along strike. In total there were 82 drillholes used to inform the Cortadera geological model, of which 72 were contained within the mineralisation wireframe used to constrain the MRE.

    The current drilling density provides sufficient information to support a robust geological and mineralisation interpretation as the basis for Indicated and Inferred Mineral Resources for the majority of the drill defined deposit.

    The mineralisation is still open laterally and at depth and further drilling is planned to explore these zones in 2021 and beyond.

    Compositing of drillhole samples was undertaken on 2 metre intervals, and in some cases 4 metre intervals in unmineralised areas.

    Orientation of data in relation to geological structure

    Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

    If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

    The spacing and location of drilling at Cortadera is variable, ranging from 80m to 300m. The selected drill spacing and orientation over the resource area ensures that drilling is optimised to intersect perpendicular to mineralisation.

    The majority of drilling was oriented from -60 to -80° toward northeast, with some scissor holes drilled to the southwest. In addition, some other drill orientations were used to ensure geological representivity and to maximise the use of available drill platforms.

    The orientation of drilling is considered appropriate for this style of mineralisation, and no sampling bias is inferred from drilling completed as part of the MRE. In addition, copper-gold porphyry mineralisation is typically fairly homogenous meaning a limited chance of bias likely to be caused from drilling orientation.

    The coordinates and orientations for all of the historical Cortadera drill holes have been reported to ASX in Table 1, Section 2 of the Company’s previous drilling announcements, most recently 10th July 2020.

    Sample security

    The measures taken to ensure sample security.

    HCH has strict chain of custody procedures that are adhered to. All samples have the sample submission number/ticket inserted into each bulk polyweave sample bag with the id number clearly visible. The sample bag is stapled together such that no sample material can spill out and no one can tamper with the sample once it leaves Hot Chili’s custody.

    Measures taken to ensure sample security during historical drilling are unknown. All retained core and pulp samples are currently stored in a secured warehouse facility and are available for verification if required.

    Audits or reviews

    The results of any audits or reviews of sampling techniques and data.

    As part of the Cortadera MRE WoodPLC have conducted an independent review of the drill database. This review has



    found the data to be accurate and acceptable for MRE purposes.


    About Hot Chili

    Hot Chili Limited is a mineral exploration company with assets in Chile. The Company's flagship project, Costa Fuego, is the consolidation into a hub of the Cortadera porphyry copper-gold discovery and the Productora copper-gold deposit, set 14 km apart in an excellent location – low altitude, coastal range of Chile, infrastructure rich, low capital intensity.The Costa Fuego landholdings, contains an Indicated Resource of 391Mt grading 0.52% CuEq (copper equivalent), containing 1.7 Mt Cu, 1.5 Moz Au, 4.2 Moz Ag, and 37 kt Mo and an Inferred Resource of 334Mt grading 0.44% CuEq containing 1.2Mt Cu, 1.2 Moz Au, 5.6 Moz Ag and 27 kt Mo, at a cut-off grade of 0.25% CuEq.The Company is working to advance its Costa Fuego Project through a preliminary feasibility study (followed by a full FS and DTM), and test several high-priority exploration targets.

    Certain statements contained in this news release, including information as to the future financial or operating performance of Hot Chili and its projects may include statements that are "forward-looking statements" which may include, amongst other things, statements regarding targets, estimates and assumptions in respect of mineral reserves and mineral resources and anticipated grades and recovery rates, production and prices, recovery costs and results, and capital expenditures and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Hot Chili, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies and involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-looking statements.

    Hot Chili disclaims any intent or obligation to update publicly or release any revisions to any forward-looking statements, whether as a result of new information, future events, circumstances or results or otherwise after the date of this news release or to reflect the occurrence of unanticipated events, other than as may be required by law. The words "believe", "expect", "anticipate", "indicate", "contemplate", "target", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule" and similar expressions identify forward-looking statements.

    All forward-looking statements made in this news release are qualified by the foregoing cautionary statements. Investors are cautioned that forward-looking statements are not a guarantee of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

    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.

    Contact DetailsInvestor Relations

    Graham Farrell

    +1 416-842-9003

    Graham.Farrell@harboraccessllc.com

    Investor Relations

    Jonathan Paterson

    +1 475-477-9401

    Jonathan.Paterson@HarborAccessllc.com

    Hot Chili, CEO

    Christian EasterDay

    admin@hotchili.net.au

    Company Websitehotchili.net.au

    View source version on newsdirect.com: newsdirect.com

    Share RecommendKeepReplyMark as Last ReadRead Replies (1)


    To: LoneClone who wrote (162763)1/13/2022 3:31:59 PM
    From: LoneClone
       of 168835
     
    Filo Mining Reports 64m at 1,214 g/t Silver at Filo del Sol

    ca.finance.yahoo.com

    Tue., January 11, 2022, 9:01 p.m.·10 min read

    VANCOUVER, BC, Jan. 12, 2022 /CNW/ - Filo Mining Corp. (TSX: FIL) (Nasdaq First North Growth Market: FIL) (OTCQX: FLMMF) ("Filo Mining", or the "Company") ("Filo Mining", or the "Company") is pleased to provide initial assay results and an update on the Filo del Sol drilling program. Highlights are listed below, along with drillhole locations on the accompanying plan map: View PDF.

  • Drillhole FSDH055A returned 64.0 m at 1,213.8 g/t Ag and 0.49 g/t Au from a depth of 362m; this represents the best intersection of high-grade silver on the project to date.

  • A total of 5,000m of diamond drilling has now been completed during the current program, with one hole (FSDH054) completed to a depth of 1,370m and five holes currently underway.

  • Commenting on the initial results, Jamie Beck, President and CEO stated, "Hole 55A is one of the longest, highest-grade silver intercepts seen globally in a long time. It is a great reminder of the outstanding precious metal content of this remarkable deposit and demonstrates that we've got a significant silver deposit contained within the major copper-gold deposit at Filo del Sol. This hole also adds to the evidence that the area around hole FSDH041 is one of the centres of the system and we look forward to assays from additional step-out holes in this area."

    FSDH055A is located 50m to the west of, and parallel to, FSDH041. It intersected the high-grade silver zone as shown in the table below, before being abandoned at a depth of 485m due to drilling difficulties. FSDH055C is currently underway at the same location to re-drill this hole to target depth.

    HOLE-ID

    From (m)

    To (m)

    Length (m)

    Cu %

    Au g/t

    Ag g/t

    FSDH055A

    362.0

    426.0

    64.0

    0.01

    0.49

    1,213.8

    incl.

    374.4

    402.0

    27.6

    0.01

    0.50

    2,439.2

    incl.

    380.0

    388.0

    8.0

    0.01

    0.45

    5,280.0


    This is the best intersection of the high-grade silver zone at Filo del Sol drilled to date and sits completely outside the current mineral resource. This intersection is open in several directions, with a 420m undrilled gap to the north, between FSDH055A and FSDH037 (104m at 120 g/t Ag, see News Release dated April 12, 2021) which is currently being tested by holes FSDH057 and FSDH059. To the east, this intersection correlates with the silver zone in hole FSDH041 (46m at 75 g/t Ag, see News Release dated April 12, 2021). The intersection is completely open to the west. Additional drilling is required to fully understand the geometry of this intersection, however based on correlation with other holes it is interpreted to be approximately true width.

    Initial holes for this program were designed to explore the area around the high-grade intersection in FSDH041 from the 2020/2021 season, with holes FSDH054, FSDH055 and FSDH056 as 50m step-outs to the east, west and south respectively. FSDH054 was completed at a depth of 1,370m in early December, and this drill has been moved to FSDH059 located 100m north of FSDH041. Two larger step-outs are also underway, FSDH057 located 200m north of FSDH041 and FSDH058 located 450m to the south of FSDH041.

    Outlook

    Drilling will continue year-round at Filo del Sol in 2022 with our most ambitious field program ever. The Company plans to add an additional two drill rigs in early February, bringing the total rig count to seven drills operating throughout the year. Assay results have been received for approximately 2,100m of the length drilled to date, and additional results will be released as they are received, analyzed and confirmed by the Company.

    On behalf of Filo Mining,

    Jamie Beck
    President and CEO

    About Filo del Sol

    Filo del Sol is a high-sulphidation epithermal copper-gold-silver deposit associated with one or more large porphyry copper-gold systems. Overlapping mineralizing events combined with weathering effects, including supergene enrichment, have created several different styles of mineralization, including structurally-controlled and breccia-hosted gold, manto-style high-grade silver (+/- copper) and high-grade supergene enriched copper within a broader envelope of disseminated, stockwork and breccia-hosted sulphide copper and gold mineralization. This complex geological history has created a heterogeneous orebody which is characterized by zones of very high-grade copper +/- gold +/- silver mineralization within a large envelope of more homogeneous, lower-grade mineralization.

    Qualified Persons and Technical Notes

    The scientific and technical disclosure for the Filo del Sol Project included in this news release have been reviewed and approved by Bob Carmichael, B.A.Sc., P.Eng. who is the Qualified Person as defined by NI 43-101. Mr. Carmichael is Vice President, Exploration for the Company. Samples were cut at Filo Mining's operations base near the town of Guañizuil, Argentina by Company personnel. Diamond drill core was sampled in 2 metre intervals (except where shortened by geological contacts) using a rock saw for sulphide mineralization. Oxide mineralization was cut with a core splitter in order to prevent dissolution of water-soluble copper minerals during the wet sawing process. Core diameter is a mix of PQ, HQ and NQ depending on the depth of the drill hole. Samples were bagged and tagged and packaged for shipment by truck to the ALS preparation laboratory in Mendoza, Argentina where they were crushed and a 500g split was pulverized to 85% passing 200 mesh. The prepared samples were sent to the ALS assay laboratory in Santiago, Chile for copper, gold and silver assays, with a second split sent to the ALS laboratory in Lima, Peru for multi-element ICP and sequential copper analyses. ALS is an accredited laboratory which is independent of the Company. Gold assays were by fire assay fusion with AAS finish on a 30g sample. Copper and silver were assayed by atomic absorption following a 4 acid digestion. Samples were also analyzed for a suite of 36 elements with ICP-ES and a sequential copper leach analysis was completed on each sample with copper greater than 500ppm (0.05%). Copper and gold standards as well as blanks and duplicates (field, preparation and analysis) were randomly inserted into the sampling sequence for Quality Control. On average, 9% of the submitted samples are Quality Control samples.

    About Filo Mining

    Filo Mining is a Canadian exploration and development company focused on advancing its 100% owned Filo del Sol copper-gold-silver deposit located in Chile's Region III and adjacent San Juan Province, Argentina. The Company's shares are listed on the TSX and Nasdaq First North Growth Market under the trading symbol "FIL", and on the OTCQX under the symbol "FLMMF". Filo Mining is a member of the Lundin Group of Companies.

    Additional Information

    The Company's certified adviser on the Nasdaq First North Growth Market is Aktieinvest FK AB, +46 8 506 51703, rutger.ahlerup@aktieinvest.se.

    The information contained in this news release was accurate at the time of dissemination, but may be superseded by subsequent news release(s). The Company is under no obligation nor does it intend to update or revise the forward-looking information, whether as a result of new information, future events or otherwise.

    This information was submitted by Filo Mining Corp. for publication, through the agency of the contact person set out below, on January 12, 2022 at 00:01 EST.

    Cautionary Note Regarding Forward-Looking Statements

    Certain statements made and information contained herein in the news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking information"). The forward-looking information contained in this news release is based on information available to the Company as of the date of this news release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information. Generally, this forward-looking information can frequently, but not always, be identified by use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "projects", "budgets", "assumes", "strategy", "goals", "objectives", "potential", "possible", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events, conditions or results "will", "may", "could", "would", "should", "might" or "will be taken", "will occur" or "will be achieved" or the negative connotations thereof. All statements other than statements of historical fact may be forward-looking statements.

    The Company believes that the expectations reflected in the forward-looking information included in this news release are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Information contained in this news release is as of the date of this press release. In particular, this press release contains forward-looking information pertaining to assumptions made in the interpretation of drill results, geology, grade, geochemistry and continuity of mineral deposits; expectations regarding access and demand for equipment, skilled labour and services needed for exploration and development of mineral properties; and that activities will not be adversely disrupted or impeded by exploration, development, operating, regulatory, political, community, economic, environmental and/or healthy and safety risks. In addition, this news release may contain forward-looking statements or information pertaining to: potential exploration upside at the Filo del Sol Project, including the extent and significance of the porphyry copper-gold system underlying the current Mineral Resource and the prospectivity of exploration targets; exploration and development plans and expenditures, including a transition to year-round operations and the timing thereof; the ability of the Company's COVID-19 operating protocol to continue to meet government-mandated health and safety guidelines enabling it to conduct its field programs as planned; the success of future exploration activities; potential for resource expansion; the impact of the Company's winterization efforts at Filo del Sol, and whether such efforts will enable year-round operations and have adequately anticipated and prepared for the challenges of winter operation at Filo del Sol, including but not limited to weather and potential supply chain disruptions; ability to build shareholder value; expectations with regard to adding to its Mineral Reserves or Resources through exploration; expectations with respect to the conversion of inferred resources to an indicated resources classification; ability to execute planned work programs; plans or ability to add additional drill rigs; timing or anticipated results of an update to the mineral resource estimate for Filo del Sol; government regulation of mining activities; environmental risks; unanticipated reclamation expenses; title disputes or claims; limitations on insurance coverage; and other risks and uncertainties.

    Statements relating to "mineral resources" are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions that the mineral resources described can be profitably produced in the future.

    The forward-looking statements contained in this news release are made as at the date of this news release and Filo does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws. Forward-looking information is provided for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of the Company's operating environment. Forward-looking information is based on certain assumptions that the Company believes are reasonable, including that the current price of and demand for commodities will be sustained or will improve, the supply of commodities will remain stable, that the general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed on reasonable terms and that the Company will not experience any material labour dispute, accident, or failure of plant or equipment. These factors are not, and should not be construed as being, exhaustive. Although the Company has attempted to identify important factors that would cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All the forward-looking information contained in this document is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof.

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    Plan Map - Silver Zone (CNW Group/Filo Mining Corp.)


    Filo Mining Reports 64m at 1,214 g/t Silver at Filo del Sol (CNW Group/Filo Mining Corp.)
    SOURCE Filo Mining Corp.


    Cision
    View original content to download multimedia: newswire.ca

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    To: LoneClone who wrote (162764)1/13/2022 3:34:12 PM
    From: LoneClone
       of 168835
     
    Kingfisher Confirms Drill Target at Day Trip Zone, Goldrange Project

    accesswire.com

    Wednesday, January 12, 2022 5:30 AM

    VANCOUVER, BC / ACCESSWIRE / January 12, 2022 / Kingfisher Metals Corp. (TSXV:KFR)(FSE:970)(OTCQB:KGFMF) ("Kingfisher" or the "Company") is pleased to announce results from the 2021 Induced Polarization (IP) geophysical survey and geochemical sampling program at the Day Trip Zone within the Goldrange Project. The Day Trip Zone is located approximately 5 km southeast of the Cloud Drifter Trend and was discovered by Kingfisher in 2020. Kingfisher's 100% owned Goldrange project is located approximately 25 km south of the town of Tatla Lake in the Chilcotin region of Southwest British Columbia.

    Highlights

    • Discovery of a very high, at surface IP chargeability and conductivity anomaly that underlies highly Au anomalous geochemistry and veins on surface.
    • Geochemical sampling in 2021 expanded upon the 2020 talus fines survey increasing the footprint of anomalous (>100 ppb) Au in talus from ~50 m x 100 m to ~100 m x 450 m.
    • The Day Trip target is fully permitted and ready for track mounted RAB drilling in May 2022.
    Dustin Perry, CEO of Kingfisher commented, "I am very excited to see how our mapping, geochemical sampling, and now IP geophysical survey have all validated this attractive target. These results confirm an excellent drill prospect on a brand-new area that we discovered in 2020 through our prospecting program."

    Target Overview

    The Day Trip Zone covers a rounded to flat mountain top approximately 5 km southeast of the Cloud Drifter Trend (Figure 1). The target is situated between two interpreted fault splays of the regional Ottarasko Fault. High-density intrusive-hosted veins up to 2 m in width occur over an area ~100 m by 400 m. Quartz veins from this area returned grades from below detection limit to 6.7 g/t Au. Adjacent to the intrusion is a ~70 m x 90 m area of arsenopyrite-cement breccia in subcrop. Approximately 20% of the subcrop material in this area consists of arsenopyrite-cement breccia and grades from 3.4 to 20.1 g/t Au. Talus fine sampling in 2020 outlined a broad area of gold anomalism coincident with areas of gold in outcrop and subcrop that graded up to 8.4 g/t Au over the subcrop breccia area. Rock and talus fine geochemistry both yield a strong multi-element signature of As, Ag, Cu, Bi, Te, and Pb associated with Au.

    Figure 1: Day Trip Zone Drone Image

    2021 Exploration Program

    The 2021 exploration program at the Day Trip Zone consisted of 4.2-line km of Induced Polarization (IP) geophysical surveying in addition to 189 talus fine samples (Figures 2 and 3). The program was designed to follow up on an area of arsenopyrite cement breccia subcrop adjacent to an area of intrusive-hosted quartz veins.

    Talus fine sampling in 2021 covered an area of ~400 m x 450 m. The 2021 talus fine sampling expanded the anomaly (>100 ppb Au) to cover an area measuring ~100 m x 450 m with talus fines collected in 2021 grading up to 1.0 g/t Au.

    Figure 2: Day Trip Zone Geochemistry

    The IP geophysical surveying ( IP Survey Inversions) delineated three domains with significant high chargeability values (>32 mV/V), the largest of which is broadly coincident with areas of known mineralization and talus fine anomalies. The strongest chargeability values (>60 mV/V) within the survey area are coincident with high conductivity responses on survey lines 3500, 3600, and 3700. The anomaly on survey line 3600 coincides with a 90 x 70 m subcrop of sulfide-cement breccia. The geophysical anomalies are open to the south, north, and southwest as well as at depth. No rock or soil samples have been collected in the western chargeable zones to date.

    Figure 3: Day Trip Zone IP Geophysics

    2022 Proposed Exploration Program

    Track-mounted rotary air blast (RAB) drilling is planned to begin in May 2022. Given the low snowpack in the area of interest, drilling can commence at the Day Trip Zone prior to the Cloud Drifter Trend. Drilling will focus on testing areas of coincident geophysical and geochemical anomalism within the area of sedimentary-hosted arsenopyrite-cement breccia as well as the intrusive-hosted vein domain. Track-mounted RAB drilling will allow for efficient and low-cost initial testing of this at-surface target.

    Additional Claim Staking

    An additional seven (7) claims (Figure 4) comprising 12,077 Ha have been staked at the Goldrange Project. The majority of claims staked were focused along the northern, road accessible region of the project. Several drainages in the northern claims contain stream sediment anomalies for orogenic pathfinders including As, Sb, Bi, and Te identified in the British Columbia Regional Geochemical Survey (BC RGS).

    Figure 4: Goldrange Project Tenure Additions

    Qualified Person

    Dustin Perry, P.Geo., Kingfisher's CEO, is the Company's Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release.

    About Kingfisher Metals Corp.

    Kingfisher Metals Corp. (https://pr.report/a-Fud30A) is a Canadian based exploration company focused on underexplored district-scale projects in British Columbia. Kingfisher has three 100% owned district-scale projects that offer potential exposure to high-grade gold, copper, silver, and zinc. The Company currently has 84,673,300 shares outstanding.

    For further information, please contact:

    Dustin Perry, P.Geo.
    CEO and Director
    Phone: +1 236 358 0054
    E-Mail: info@kingfishermetals.com

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

    Cautionary Note Regarding Forward-Looking Statements

    Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property. This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing; and the success related to any future exploration or development programs.

    These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include; success of the Company's projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour- related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

    The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks related to the COVID-19 pandemic; fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mineral exploration; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mineral exploration; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

    SOURCE: Kingfisher Metals Corp.

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    To: LoneClone who wrote (162765)1/13/2022 3:36:24 PM
    From: LoneClone
       of 168835
     
    Gold Bull 3D modelling yields new compelling drill targets at Sandman

    ca.finance.yahoo.com

    Gold Bull Resources Corp.
    Wed., January 12, 2022, 3:30 a.m.·6 min read

    Figure 1



    Sandman geological model showing concept of new planned drill holes which target high grade ore shoots below existing deposits. The target zone is in the Tertiary volcanic sequence interface with the Triassic basement rocks along high grade mineralised faults. Drill holes are planned for North Hill, Silica Ridge and Abel Knoll.

    Figure 2



    Sandman map showing planned drill holes, CSAMT survey, geochemical lag sample locations and existing deposit locations. Drill holes are located below existing resources and some holes are targeting new deposit discoveries.

    Figure 3



    Plan of Sandman project facing northwest depicting North Hill and Silica Ridge deposits. Preliminary north-south CSAMT Windmill lines are shown as well as Windmill geochemical lag sample locations completed in November-December 2021. Further geochemical lag sampling is located west of North Hill, this will be completed after the season rains. Prior Gold Bull 2D IP-Resistivity lines are also shown between North Hill and Silica Ridge.

    VANCOUVER, British Columbia, Jan. 12, 2022 (GLOBE NEWSWIRE) -- Gold Bull Resources Corp. (TSX-V: GBRC) (“Gold Bull” or the “Company”) is pleased to report its upcoming drill plan for its 100% owned Sandman Project (“Sandman” or the “Project”) located in Humboldt County, Nevada, USA.

    HIGHLIGHTS & UPDATE:

  • High grade bonanza style drill targets planned for North Hill, Silica Ridge and Abel Knoll.

  • Phase 1 planned drill holes comprise 18 holes for 4,100m – drilling to commence in mid January 2022

  • Drill holes are targeting interpreted hydrothermal fluid conduits beneath existing mineral resources, as well as new deposits

  • Ground Geophysics (CSAMT) survey is now complete, results under evaluation

  • Laboratory assay results for the surface lag samples at Windmill area are pending

  • Gold Bull CEO, Cherie Leeden commented:

    “After testing stratigraphic lower grade bulk tonnage mineralisation in 2021 drill holes, our exploration team has moved beyond prior explorer’s stratigraphic influenced targets and are now testing for higher grade bonanza gold targets, if discovered, capable of adding significant gold ounces. The higher-grade targets are located close to the Tertiary and Pre-Tertiary basement contact where high-grade ore shoots are believed to be the source of the near surface gold mineralisation. These steeply dipping structures project down to deeper untested levels. We are essentially testing the interface above basement rocks where gold is most likely to have dropped out where the fluid pressure-temperature drop is greatest in more porous host rocks.

    We are very excited to drill these targets and this work is a culmination of focussed study conducted over the past six months in reviewing Newmont and other previous explorers’ data. Targets at these depths (circa 200-300m) have not previously been tested and are very similar to the nearby multimillion ounce ‘Sleeper’ deposit model.”

    To learn more, please see our video called "Finding the Motherlode".

    Background: Exploring for bonanza drill targets

    Gold Bull’s 2021 drill program results and gold grade distribution studies incorporating historic data assisted in the definition of new high-grade gold targets at North Hill, Silica Ridge and Abel Knoll. This contrasts with the approach of previous explorers, who focussed on drilling favorable host lithologies within the Tertiary stratigraphic sequence near surface, targeting lower grade bulk tonnage.

    Spatial distribution of high-grade gold zones appears to be influenced by steeply dipping structures which cut the stratigraphic sequence and extend at depth beneath existing resources. The drill holes are testing potential extensions of gold deposits beneath the resource at the interface of the Tertiary volcanic sequence with underlying Triassic basement rocks. Based on other known Nevadan gold deposits, it is hypothesized this interface may host high grade gold shoots at the fluid pressure-temperature drop as fluids passed from tight basement rocks to more porous Tertiary volcanic sequence. This interface has not previously been targeted beneath current deposits. If discovered, these bonanza style targets Gold Bull is now testing have potential to significantly increase the old mineral resource estimate.

    Eighteen (18) drill holes have been planned for total 4,100 m, testing targets beneath existing resources at North Hill, Silica Ridge and Abel Knoll, as well as exploration holes targeting new deposit discoveries. Further new deposit drill targets are being developed from recently acquired CSAMT and lag geochemical sample data and will be revised after completion of the current 18x hole drill program.

    Recent ground geophysical and geochemical work has defined two new prospects of interest, Windmill and Midway (see Figure 3.)

    Figure 1. globenewswire.com

    Figure 2. globenewswire.com

    Figure 3. globenewswire.com

    Ground Geophysical Survey

    The Controlled Source Audio Magnetotellurics (CSAMT) ground survey is now complete and results are being compiled and evaluated. Surface geochemical lag samples taken in November and December 2021 in the Windmill area (figure 3, east of Silica Ridge) are being processed at the laboratory. The next step is to further target new deposit discovery drill holes in the Windmill area using the CSAMT and lag geochemical sample results.

    Next Steps

    An RC drill rig has been secured and drilling is anticipated to commence in mid January 2022.

    About Sandman

    In December 2020, Gold Bull purchased the Sandman Project from Newmont. Gold mineralization was first discovered at Sandman in 1987 by Kennecott and the project has been intermittently explored since then. There are four known pit constrained gold resources located within the Sandman Project, consisting of 21.8Mt @ 0.7g/t gold for 494,000 ounces of gold; comprising of an Indicated Resource of 18,550kt @ 0.73g/t gold for 433kozs of gold plus an Inferred Resource of 3,246kt @ 0.58g/t gold for 61kozs of gold. Several of the resources remain open in multiple directions and the bulk of the historical drilling has been conducted to a depth of less than 100m. Sandman is conveniently located circa 25-30 km northwest of the mining town of Winnemucca, Nevada.

    Qualified Person

    Cherie Leeden, B.Sc Applied Geology (Honours), MAIG, a “Qualified Person” as defined by National Instrument 43-101, has read and approved all technical and scientific information contained in this news release. Ms. Leeden is the Company’s Chief Executive Officer. Cherie Leeden relied on resource information contained within the Technical Report on the Sandman Gold Project, prepared by Steven Olsen, a Qualified Person under NI 43-101, who is a Qualified Persons as defined by the National Instrument NI 43-101. Mr Olsen is an independent consultant and has no affiliations with Gold Bull except that of an independent consultant/client relationship. Mr Olsen is a member of the Australian Institute of Geoscientists (AIG) and is the Qualified Person under NI 43-101, Standards of Disclosure for Mineral Projects.

    About Gold Bull Resources Corp.

    Gold Bull’s mission is to grow into a US focused mid-tier gold development Company via rapidly discovering and acquiring additional ounces. The company’s exploration hub is based in Nevada, USA, a top-tier mineral district that contains significant historical production, existing mining infrastructure and an established mining culture. Gold Bull is led by a Board and Management team with a track record of exploration and acquisition success.

    Gold Bull’s core asset is the Sandman Project, located in Nevada which has a 494,000 oz gold resource as per 2021 43-101 Resource Estimate. Sandman is located 23 km south of the Sleeper Mine and boasts excellent large-scale exploration potential. Drilling at Sandman is currently underway.

    Gold Bull is driven by its core values and purpose which includes a commitment to safety, communication & transparency, environmental responsibility, community, and integrity.

    Cherie Leeden
    President and CEO, Gold Bull Resources Corp.

    For further information regarding Gold Bull Resources Corp., please visit our website at www.goldbull.ca or email admin@goldbull.ca.

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

    This news release contains certain statements that may be deemed “forward-looking statements” with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “indicates”, “opportunity”, “possible” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Gold Bull believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company’s ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop its projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of copper and other metals, changes in general economic conditions, accuracy of mineral resource and reserve estimates, the potential for new discoveries, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company’s plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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    To: LoneClone who wrote (162766)1/13/2022 3:38:23 PM
    From: LoneClone
       of 168835
     
    ExGen: Report Confirms Significant Potential at the Red Star Silver Discovery

    ca.finance.yahoo.com

    ExGen Resources Inc
    Wed., January 12, 2022, 11:30 a.m.·12 min read

    NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

    VANCOUVER, British Columbia, Jan. 12, 2022 (GLOBE NEWSWIRE) -- ExGen Resources Inc. (TSX.V: EXG; OTC: BXXRF) (“ExGen”, the “Company”) is pleased to provide an update in respect of Phoenix Copper Ltd.’s (“Phoenix”) exploration and development activities at the Empire Mine Project in Custer County, Idaho, USA. Further to previous ExGen news releases, ExGen owns 20% and Phoenix owns 80% of Konnex Resources, Inc. (“Konnex”), which holds the leases and claims to the Empire Mine Project. ExGen further owns 1,330,000 common shares of Phoenix.

    ExGen is pleased to report that Phoenix, (the operator of the Empire Mine Project), has provided the assay results from additional drilling at the Red Star silver – lead deposit (NI 43-101 Technical Report: Updated Mineral Resource Estimate for the Empire Mine Project, Custer County Idaho USA, prepared by Hard Rock Consulting LLC, dated May 30, 2020), which is located 330 metres northwest along strike from the present northern limits of the proposed Empire Mine open pit resource (NI 43-101 Technical Report: Updated Mineral Resource Estimate for the Empire Mine Project, Custer County Idaho USA, prepared by Hard Rock Consulting LLC, dated November 25, 2020) and appears to be part of the same mineralized system.

    The following program highlights were provided by Phoenix:

    Hole RS21-01

  • 27.4 m of 0.69% copper, 0.8 grammes per tonne (“g/t”) gold and 14.9 g/t silver starting at a depth of 38.1 m,

  • including 7.6 m of 1.61% copper, 2.3 g/t gold and 38.6 g/t silver from 50.3 m,

  • and including 1.5 m of 2.71% copper, 3.9 g/t gold and 50.7 g/t silver from 51.8 m

  • Hole RS21-02

  • 36.6 m of 0.52% copper, 0.5 g/t gold, 24 g/t silver, 0.28% lead, and 0.64% zinc starting at a depth of 82.3 m,

  • Including 13.7 m of 23.9 g/t silver and 1.46% zinc from 82.3 m,

  • Including 1.5 m of 0.56 g/t gold, 92.3 g/t silver, 3.13% lead, and 2.77% zinc from 83.8 m

  • Including 7.6 m of 1.35% copper, 1.2 g/t gold and 49.0 g/t silver from 102.1 m

  • Hole RS21-05

  • 7.6 m of 0.20% copper, 0.3 g/t gold, and 17.4 g/t silver from 35.1 m depth

  • Including 3 m of 0.29% copper, 0.7 g/t gold, and 28.9 g/t silver from 39.6 m

  • During the 2021 field season, a ground magnetics survey was conducted in the Red Star project area. The results of the survey identified three subsurface magnetite zones east of the Red Star discovery outcrop, which had not been apparent in the surface outcrop. In early October 2021, a RC drill rig became available for a short period of time and drilled seven exploratory holes (876.3 meters) at various locations throughout the newly identified magnetic zones as a precursor to a future and more extensive diamond core drilling program.

    The Red Star exploration program was designed to test and help delineate the boundaries of the magnetite zones and to provide geochemical data and targeting for the next phase of drilling. The results confirmed the continuity of magnetite related mineralization along northerly trending structures. The Red Star mineralization appears as discrete zones plunging steeply to the east along the structures mapped in the geophysical survey, similar to the well understood magnetite zones encountered in the Empire Open-Pit resource (NI 43-101 Technical Report: Updated Mineral Resource Estimate for the Empire Mine Project, Custer County Idaho USA, prepared by Hard Rock Consulting LLC, dated November 25, 2020).

    Silver and lead grades encountered in the drilling are consistent with, or exceed, those reported in the Red Star maiden resource (NI 43-101 Technical Report: Updated Mineral Resource Estimate for the Empire Mine Project, Custer County Idaho USA, prepared by Hard Rock Consulting LLC, dated May 30, 2020); copper, gold and zinc were also encountered in significant quantities. Significant drill results are listed in Table 1. These results, together with the results of the recently completed ground magnetic survey on Red Star, will be used to target a planned 3,000 m diamond core drilling program in 2022.

    Phoenix noted:

  • The 2021 Red Star ground magnetics survey identified three magnetic zones east-southeast of the Red Star discovery outcrop covering nearly 46 acres. These seven exploratory drill holes, RS21-01 to RS21-07 reported here, targeted specific areas within those 46 acres for the purpose of providing subsurface exploratory information for future drilling programs.

  • The latest drilling results have accomplished that purpose, and the Phoenix team is excited to apply what has been learned to the next phase of drilling at Red Star.

  • All seven drill holes encountered mineralization consistent with, if not exceeding, the grades in the maiden Red Star resource ((NI 43-101 Technical Report: Updated Mineral Resource Estimate for the Empire Mine Project, Custer County Idaho USA, prepared by Hard Rock Consulting LLC, dated May 30, 2020), further demonstrating the widespread polymetallic mineralization at Empire, and the continuity of a northerly trending system.

  • The drilling results confirm that the surface geology and geochemistry, as well as the magnetic anomalies identified in the ground magnetics survey, show a continuous northerly-trend toward the Horseshoe-White Knob prospect as expected, and are reliable and provide prospective drill targets for a planned 3,000 m core drilling program in 2022.

  • In addition to its ongoing exploration programs, Phoenix continues to focus its efforts on the Empire Open-Pit copper oxide feasibility study, scheduled for completion in Q2 of 2022 and with the ongoing permitting of the Empire copper-oxide open pit.

  • The evaluation of the Navarre Creek gold project, ahead of an anticipated exploratory drilling program in 2022, is also in progress, as is the planned reporting of the results of the Navarre Creek ground magnetics survey and geophysical program in the coming weeks.

  • Table 1 – Red Star Reverse Circulation Drilling Results

    Drill Hole

    Intersection Metres*

    g/tonne

    %

    %

    %

    Mo

    W

    Number

    From

    To

    Interval

    Au

    Ag

    Cu

    Pb

    Zn

    ppm

    ppm

    RS21-01

    38.1

    65.5

    27.4

    0.8

    14.9

    0.69

    0

    0.03

    7.6

    5

    including

    50.3

    57.9

    7.6

    2.3

    38.6

    1.61

    0

    0.03

    2

    5

    including

    51.8

    53.3

    1.5

    3.9

    50.7

    2.71

    0.01

    0.04

    3

    5

    RS21-02

    51.8

    54.9

    3

    2

    2.7

    0.01

    0.05

    0.06

    7

    5

    and

    82.3

    118.9

    36.6

    0.5

    24

    0.52

    0.28

    0.64

    147.3

    61.3

    including

    82.3

    96

    13.7

    0.2

    23.9

    0.07

    0.72

    1.46

    380.1

    24.4

    including

    83.8

    85.3

    1.5

    0.6

    92.3

    0.18

    3.13

    2.77

    2950

    90

    including

    102.1

    109.7

    7.6

    1.2

    49

    1.35

    0

    0.16

    4.8

    6

    RS21-03

    30.5

    32

    1.5

    0.1

    13.2

    0.28

    0.01

    0.29

    2

    5

    RS21-04

    50.3

    62.5

    12.2

    0.4

    16.5

    0.12

    0.07

    0.04

    47.9

    293.8

    including

    53.3

    57.9

    4.6

    0.9

    24.5

    0.15

    0.08

    0.04

    60.3

    403.3

    RS21-05

    7.6

    15.2

    7.6

    0.2

    9.2

    0.16

    0.01

    0.04

    1.4

    5

    RS21-05

    35.1

    42.7

    7.6

    0.3

    17.4

    0.2

    0.02

    0.21

    2.2

    8

    including

    39.6

    42.7

    3

    0.7

    28.9

    0.29

    0.02

    0.24

    2.5

    12.5

    RS21-06

    173.7

    176.8

    3

    0.5

    7.9

    0.29

    0.01

    0.12

    4

    10

    RS21-07

    42.7

    65.5

    22.9

    0

    2.2

    0.01

    0.01

    0.21

    2.4

    5.3


    Note – downhole not true widths

    Jason Riley, CEO of ExGen, commented: “We are highly encouraged by the results of this latest Red Star drill program and eagerly await the results from Horseshoe-White Knob and Navarre ground magnetic surveys.”

    QUALITY ASSURANCE AND QUALITY CONTROL PROTOCOLS

    Rock, drill core and reverse circulation samples were analyzed by ALS Global, Reno, an ISO/IEC 17025:2005 accredited facility. Copper, zinc, silver, lead, molybdenum, and tungsten were determined by ICP method. Copper, zinc, and lead >1% ICP are assayed using four-acid digestion and silver >100ppm by four acid digestion, whereas gold was determined by a 30gm fire assay followed by atomic absorption. Standards, duplicates and blanks were inserted into the sample stream for QA/QC purposes. Blanks and duplicates were inserted roughly every 50ft and standards were inserted roughly every 100ft. Core samples are saw cut in half and stored in a secure facility. RC chips and channel samples are stored in the same secure facility. All samples are delivered to the laboratory under chain of custody protocol and submitted using sub-form sample numbers.

    QUALIFIED PERSON

    Kieran Downes, Ph.D., P. Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical information provided in this release.

    ABOUT EXGEN RESOURCES INC.

    ExGen, formerly Boxxer Gold Corp, is a project accelerator that seeks to fund exploration and development of our projects through joint ventures and partnership agreements. This approach significantly reduces the technical and financial risks for ExGen, while maintaining the upside exposure to new discoveries and potential cash flow. The company intends to build a diverse portfolio of projects across exploration stages and various commodity groups. ExGen currently has 5 projects in Canada and the US.

    For more information on ExGen please contact ExGen Resources Inc.

    Jason Tong
    Chief Financial Officer
    Email: jason@catapultgroup.ca

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

    Forward-Looking Information: This news release contains certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. In particular, this news release contains forward-looking information in relation to: the observations made on drill core from the diamond drilling program on the Empire Mine Project; the further exploration and development of the Empire Mine Project; the exploration and development strategy of the Empire Mine Project, including the exploration program, drilling, mine development, and permitting. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. There can be no assurance that the development of the Empire Mine Project will be completed, and if development is completed, that such development will result in a producing mine. In the forward looking information contained in this news release, ExGen has made numerous assumptions, based upon practices and methodologies which are consistent with the mineral industry. In addition, ExGen has assumed: the continued market acceptance of its joint venture partnership model; the ability of ExGen and its partners to raise future equity financing, if needed, at prices acceptable to ExGen or its partners; ExGen's current and initial understanding and analysis of the Empire Mine Project; the ability of ExGen or third parties to discover viable exploration targets and the results of exploration on the Empire Mine Project; the ability of Phoenix to explore and develop the Empire Mine Project; the cost of exploration, including sampling, drilling and assaying, on the Empire Mine Project, the costs of developing the Empire Mine Project and the costs and the ability of Phoenix to produce a feasibility study in compliance with NI 43-101; and ExGen's general and administrative costs remaining sustainable. While ExGen considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause ExGen's observations, actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: the possibility that the analytical results from future core sampling does not return significant grades of copper, gold, silver, zinc, lead or any other molybdenum by-products; uncertainties relating to interpretation of drill results and the geology; continuity and grade of mineralization; there is no certainty that the ongoing work programs will result in significant or successful exploration of the Empire Mine Project or development of the Empire Mine Project into a producing mine; uncertainty as to the actual results of exploration and development or operational activities; uncertainty as to the availability and terms of future financing; uncertainty as to timely availability of permits and other governmental approvals; ExGen may not be able to comply with its ongoing obligations regarding its properties; the early stage development of ExGen and its projects, and in particular, the Empire Mine Project; general business, economic, competitive, political and social uncertainties; capital market conditions and market prices for securities, junior market securities and mining exploration company securities; commodity prices, in particular copper, gold, silver, and zinc prices; competition; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting ExGen; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. A description of additional assumptions and risk factors used to develop such forward-looking information that may cause actual results to differ materially from forward-looking information can be found in ExGen's disclosure documents on the SEDAR website at www.sedar.com. Although ExGen has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. ExGen does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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    To: LoneClone who wrote (162767)1/13/2022 3:40:30 PM
    From: LoneClone
       of 168835
     
    Radisson exploration drilling suggests potential fourth high-grade mineralized trend, 1,200 m east of the old O’Brien Mine

    radissonmining.com


    12 January 2022
    Press releases

    Multiple intercepts including 31.56 g/t Au over 2.00 m and 13.83 g/t Au over 2.40 m Key highlights

    • Significant intercepts from exploration drilling along new high-grade trend #4
    • OB-21-241: 31.56 g/t Au over 2.00 m including 60.80 g/t Au over 1.00 m
    • OB-21-228: Multiple high-grade intercepts including,
      • 13.83 g/t Au over 2.40 m including 29.30 g/t Au over 1.10 m
      • 9.30 g/t Au over 1.90 m including 17.55 g/t Au over 1.00 m
      • 5.66 g/t Au over 2.00 m including 10.35 g/t Au over 1.00 m
    • OB-21-229: 5.14 g/t Au over 2.00 m and 5.95 g/t Au over 2.20 m
    • OB-21-244: 4.03 g/t Au over 2.15 m and 4.70 g/t Au over 2.00 m
    • New results along with historical drilling suggests a fourth potential high-grade mineralized vector (trend #4) approximately 1,200 m east of the old O’Brien Mine
    • This sector does not contribute meaningfully to current resources. Drilling has traced mineralization down to a vertical depth of 330 m in this area which remains open for expansion over 750 m laterally and at depth.
    • Significant intercepts from resource expansion drilling along high-grade trend #3
    • OB-21-255: 15.68 g/t Au over 2.00 m including 25.10 g/t Au over 1.00 m
    • OB-21-256: 11.75 g/t Au over 2.50 m including 24.30 g/t Au over 1.00 m
    • Drilling to date has traced mineralization to a depth of 500 m in this sector where current resources are largely limited to a vertical depth of 240 m.
    • 130,000 m drill program underway at O’Brien
    • 116,000 m completed thus far with results pending for 34,000 m
    • Cash balance of approx. $11.0 million
    “In addition to targeting resource expansion along previously defined high-grade trends 1, 2 and 3, we are also stepping out to define additional O’Brien-like mineralized trends to the east of trend #3 and to the west of the historic O’Brien Mine. We are very pleased to report recent results including 13.83 g/t over 2.40 m (OB-21-228) and 31.56 g/t Au over 2.00 (OB-21-241) that appear to confirm a potential fourth high-grade mineralized vector further east of trend #3 and 1,200 m east of the old O’Brien Mine. Current and historical intercepts have now traced mineralization down to a vertical depth of 330 m in this sector that does not meaningfully contribute to current resources. In addition, drilling continues to highlight resource expansion potential along high-grade trend #3, with notable new intercepts including 15.68 g/t Au over 2.00 m (OB-21-255) and 11.75 g/t Au over 2.50 m (OB-21-256).

    While results thus far cover only 1.2 km of strike to the east of the O’Brien Mine, today’s results re-affirm the potential upside from the more than 5 km of prospective strike that we control along the Cadillac Break. Results are pending from 34,000 m of drilling in 74 holes, of which 33 holes have visible gold occurrences. This includes an initial 5,700 m exploration drill program completed to the west of the O’Brien Mine and 28,300 additional meters completed on Trend 0, 1, 2 and 3. In addition, we are currently drilling high priority targets below previously encountered mineralization in trend #1 and #2. We expect a significant amount of news flows in the weeks and months ahead as these results become available.” commented Rahul Paul, President and Chief Executive Officer.



    HoleZone From (m)To (m)Core Length (m)Au (g/t) - UncutComments
    OB-21-228Trend #4








    171.10173.001.909.30 Pontiac Sediments

    Including
    172.00 173.00 1.00 17.55

    AND
    394.90 397.30 2.40 13.83 Southern porphyry

    Including
    394.90 396.00 1.10 29.30

    AND
    442.30444.302.005.66 Northern porphyry

    Including
    442.30 443.30 1.00 10.35
    OB-21-229Trend #4








    77.0079.002.005.14 Pontiac Sediments

    AND
    152.80155.002.205.95Pontiac Sediments *VG
    OB-21-241Trend #4








    145.00 147.00 2.00 31.56 Southern Porphyry *VG

    Including
    146.00 147.00 1.00 60.80
    OB-21-244Trend #4








    36.0038.152.154.03 Pontiac Sediments*VG

    AND
    153.80155.802.004.70 Pontiac Sediments*VG
    OB-21-255Trend #3








    352.00 354.00 2.00 15.68 Southern Mafic Volcanic*VG


    Including 353.00 354.00 1.00 25.10
    OB-21-256
    Trend #3







    416.00 418.50 2.50 11.75 Northern Porphyry


    Including 417.30 418.50 1.20 24.30

    4. Table includes only intercepts that meet 5 g/t Au cut-off and minimum mining width constraints used in the 2019 MRE. For a full listing of drill results from current drilling program click here. Drilling at O’Brien continues to validate the litho-structural model while highlighting resource growth potential laterally and at depth

    Drilling to date has continued to define and expand four high-grade mineralized trends, located approximately 300 m, 600 m, 900 m and 1,200 m respectively to the east of the old O’Brien Mine. Mineralized trends identified bear similarities with structures previously mined at O’Brien down to a depth of 1,100 m (historical production of 587 koz grading 15.25 g/t).

    Drilling so far has demonstrated continuity of mineralization well below the boundary of defined resources in all three trends, which remain open for expansion laterally and at depth. In trend #1, drilling has highlighted continuity of mineralization down to a vertical depth of 950 m, while current resources are mostly limited to a vertical depth of approximately 600 m. In trend #2, drilling has highlighted continuity of mineralization down to a vertical depth of over 800 m, while current resources are mostly within 400 m from surface. We are currently drilling a series of deeper holes below 950 m in trend #1 and 800 m in trend #2, in order to test high potential targets at depth in these sectors. In trend #3, drilling has traced mineralization down to 500 m vertical depth from surface. Current resources are mostly confined to within a vertical depth of 240 m. While trend #4 does not materially contribute to current resources, drilling thus far has traced mineralization to a vertical depth of 330 m.

    Results released thus far from the ongoing campaign cover a strike length of approximately 1.2 km to the east of the old O’Brien mine, representing only a small portion of more than 5.2 km of prospective strike that Radisson controls along the Cadillac Break. Given current geological understanding, the ongoing validation of the litho-structural model, the company estimates there is strong exploration for additional high-grade gold trends along the whole 5.2 km prospective land package on the prolific Larder-Lake Cadillac Break.

    116,000 m of drilling completed to date with results pending for approx. 34,000 m

    This release represents approximately 5,391 m of drilling in 16 drill holes. Results are pending for approximately 34,000 m in 74 holes including 33 holes with visible gold occurrences. Released results to date (since the commencement of drilling in August 2019) represent approximately 63% of the 130,000 m planned thus far. The company remains well funded with approximately $11.0 m in cash as of December 31, 2021.


    ZoneAllocated drilling (m)Drilled - Results published (m)Drilled - Results pending (m)To be drilled (m)
    Trend 018,3006,60011,7000
    Trend 140,70027,9006,8006,000
    Trend 238,50025,2004,3009,000
    Trend 315,70010,2005,5000
    Trend 4 / Eastern Exploration 11,00011,00000
    O'Brien West5,70005,7000
    Total129,90080,90034,00015,000



    Figure 1. Au Grade Distribution: OB-21-228, OB-21-229, OB-21-241, OB-21-244, OB-21-255, OB-21-256



    Figure 2. O’Brien Gold Project: Resource Block Model @ 5.0 g/t cut-off; Longitudinal section looking North



    Figure 3. O’Brien Gold Project: Trend #3 and #4 – Longitudinal section



    Figure 4. O’Brien Gold Project: Trend #3 – Cross section



    Figure 5. O’Brien Gold Project: Trend #4 – Cross section



    Figure 6. Visible gold in OB-21-229, OB-21-241, OB-21-244 and OB-21-255

    QA/QC

    All drill cores in this campaign are NQ in size. Assays were completed on sawn half-cores, with the second half kept for future reference. The samples were analyzed using standard fire assay procedures with Atomic Absorption (AA) finish at ALS Laboratory Ltd, in Val-d’Or, Quebec. Samples yielding a grade higher than 5 g/t Au were analyzed a second time by fire assay with gravimetric finish at the same laboratory. Samples containing visible gold were analyzed with metallic sieve procedure. Standard reference materials, blank samples and duplicates were inserted prior to shipment for quality assurance and quality control (QA/QC) program.

    Qualified Person

    Nicolas Guivarch, M. Sc., P.Geo., Senior Geologist – Technical Services is the qualified person pursuant to the requirements of NI 43-101, and have reviewed and approved the technical disclosure in this press release.

    Radisson mining resources Inc.

    Radisson is a gold exploration company focused on its 100% owned O’Brien project, located in the Bousquet-Cadillac mining camp along the world-renowned Larder-Lake-Cadillac Break in Abitibi, Quebec. The Bousquet-Cadillac mining camp has produced over 21,000,000 ounces of gold over the last 100 years. The project hosts the former O’Brien Mine, considered to have been the Abitibi Greenstone Belt’s highest-grade gold producer during its production (1,197,147 metric tons at 15.25 g/t Au for 587,121 ounces of gold from 1926 to 1957; Kenneth Williamson 3DGeo-Solution, July 2019). For more information on Radisson, visit our website at www.radissonmining.com or contact:

    On behalf of the board of directors

    Rahul Paul
    President and Interim CEO

    For more information on Radisson, visit our website at www.radissonmining.com or contact:

    Hubert Parent-Bouchard
    Chief Financial Officer
    819-763-9969
    hpbouchard@radissonmining.com

    Forward-Looking Statements

    All statements, other than statements of historical fact, contained in this press release including, but not limited to, those relating to the intended use of proceeds of the Offering, the development of the O’Brien project and generally, the above “About Radisson Mining Resources Inc.” paragraph which essentially describes the Corporation’s outlook, constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements and future events, could differ materially from those anticipated in such statements. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward looking information can be found in Radisson’s disclosure documents on the SEDAR website at www.sedar.com.

    By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s endeavours to develop the O’Brien project and, more generally, its expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

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    To: LoneClone who wrote (162768)1/13/2022 3:42:20 PM
    From: LoneClone
       of 168835
     
    Golden Dawn Minerals Drilling Permit for Tam O'Shanter Copper Gold Property, Greenwood BC in Final Stage

    accesswire.com

    Thursday, January 13, 2022 9:00 AM

    VANCOUVER, BC / ACCESSWIRE / January 13, 2022 / Golden Dawn Minerals Inc., (TSXV:GOM)(FRANKFURT:3G8C)(OTC PINK:GDMRD), ("Golden Dawn" or the "Company"), announces that its wholly owned subsidiary, Kettle River Resources Ltd. (Kettle River), is in the final stages of a drill permit for the Tam O'Shanter Property at the Greenwood Precious Metals project in southeastern BC.

    Claim map for the Tam O' Shanter property located 3km west of Greenwood, BC.

    Kettle River recently received a request from the BC Ministry of Energy, Mines and Low Carbon Innovation (EMLI) for a security bond in the amount of $20,000 for the Tam O'Shanter drill permit The Company anticipates this permit will be in place for the start of the 2022 season. The Tam O'Shanter Multi-Year Area Based permit is for a total of 23 drill sites. Multiple holes can be drilled from each of the sites, so the permit allows for a total of at least 10,350 metres.

    The Tam O'Shanter Property covers four areas of mineralization of which two are most significant: the Deadwood Zone and the Bengal Zone. An Inferred Mineral Resource was estimated for the Deadwood Zone at 874,000 tonnes grading 0.66 grams per tonne gold (see PEA Technical report by P&E Mining Consultants Inc., effective date May 5, 2017 and filed on SEDAR).

    The Deadwood Zone is comprised of a wide zone of intense shearing and silicification encompassing three or more quartz veins. A total of 50 drill holes have been drilled to date on the property, focussed on the Deadwood Zone. Golden Dawn previously completed 2 drilling campaigns in 2010 and 2011. The mineralized zone has been defined over a strike length of approximately 500m and to a depth of 400m.

    The Bengal Zone is an epithermal gold target comprised of a large zone of epithermal silica flooding, hydrothermal brecciation and widespread alteration within Eocene sedimentary rocks. Only three holes were drilled historically to test the Bengal Zone and although gold and silver results were low, elevated gold values up to 2 grams per tonne gold occur in older rocks to the east that exhibit similar silicification and chalcedonic veining.

    Other areas of interest include the Tam O'Shanter and Iva Lenore showings, which consist of disseminated pyrite and chalcopyrite mineralization in diorite and adjacent Knob Hill greenstone.

    Initial drilling is planned to test Au-Cu soil anomalies associated with dioritic intrusive rocks, and around historic workings at the Bengal showing where there is an historic IP chargeability anomaly. Drilling is also being planned to expand the Inferred Mineral Resource along strike and at depth, and to test for parallel zones. Further property-wide exploration will benefit from the results of the airborne VTEM survey completed in 2021.

    Readers are cautioned that historical records referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.

    Technical disclosure in this news release has been approved by Dr. Mathew Ball, P.Geo., President of the Company and a Qualified Person as defined by National Instrument 43-101,

    For more details, please see the most recent National Instrument 43-101 Technical Report on the Company's website at www.goldendawnminerals.com.

    On behalf of the Board of Directors:
    GOLDEN DAWN MINERALS INC.

    Per: "Christopher R. Anderson"

    Christopher R. Anderson CEO

    For further information, please contact:
    Golden Dawn Minerals Inc. - Corporate Communications: Tel: 604-488-3900
    Email: Office@goldendawnminerals.com

    Forward-Looking Statement Cautions: This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, preliminary plans for a consolidation of the Company's Shares. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange will not approve the proposed share consolidation, and that the Company may not be able to raise sufficient additional capital to continue its business. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The Company's securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

    THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.

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

    SOURCE: Golden Dawn Minerals Inc.

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    To: LoneClone who wrote (162769)1/14/2022 12:07:57 PM
    From: LoneClone
       of 168835
     
    Red Metal Resources Announces Update on 2022 Exploration Program and Marketing and Investor Relations Services

    newsfilecorp.com

    Thunder Bay, Ontario--(Newsfile Corp. - January 12, 2022) - Red Metal Resources Ltd. (CSE: RMES) (OTC Pink: RMESF) (the "Company" or "Red Metal") is pleased to announce the start of the Company's 2022 exploration program.

    Red Metal has confirmed a drill contractor to execute a 2,000-metre diamond drill program expected to start on January 25th. Drill targets will be split between the known Farellon zone, previously drilled in 1996, 1997, 2009 and 2011, and targets identified along strike through surface sampling programs executed in 1996 and 2012.

    The drill program will consist of up to six holes targeting down dip extents of known mineralization to approximately 175 metres vertical depth. The mineralized zone is estimated to have a depth of approximately 500 metres based on historic mine records from the Carrizal Alto mine located three kilometres along strike on the same structure hosting the Farellon vein. A further four holes will target the same structure along strike where surface sampling in 2012 confirmed mineralized vein for a further three kilometres with assays of up to 5.78% Cu with 0.17% Co and 4.37% Cu with 0.06% Co.

    Caitlin Jeffs, CEO and President of Red Metal Resources, commented, "2022 is going to be an exciting year to be a copper explorer and we are looking forward to expanding on our known zones, and also drill testing new targets with fantastic potential."

    Marketing and Investor Relations

    The Company is pleased to announce it has engaged Aktiencheck.de AG, owned by Stefan Lindam (collectively, "Aktiencheck"), for €50,000 for a European marketing and news dissemination program. The length of such program depends upon the volume of the Company's future news flow. Aktiencheck is also managing the Company's application to list on the Frankfurt Stock Exchange. Over 3,000 international companies are listed on the Frankfurt Exchange, Red Metal anticipates the Frankfurt listing will help increase trading liquidity and facilitate investment in the Company by institutional and retail investors across Europe.

    The Company has engaged Investment-Zirkel-München ("IZM") that offers several services including news dissemination, conference calls, real time investor forums and an active investors network throughout Europe. IZM has a select investor following that participate in both financings and open market buying. The IZM contract is for a two-year term at a cost of CAD$12,600.

    In addition, the Company engaged James MacFarlane to provide investor relations services in Canada on a month-to-month basis for CAD$5,000 per month, and Richard Cavalli to provide market awareness services in the United States on a month-to-month basis at a cost of USD$5,000 per month.

    Qualified Person

    The technical information in this release has been reviewed and verified by Caitlin Jeffs, P. Geo., President, CEO of the Company and the Qualified Person as defined by National Instrument 43- 101

    Health and Safety

    The health and safety of our personnel and contractors is always top priority to Red Metal. The current situation presents new challenges above and beyond what we normally face while working in the field. Red Metal has implemented further measures to ensure the health and safety of all working on the Company's projects.

    About Red Metal Resources Ltd.

    Red Metal Resources is a mineral exploration company focused on growth through acquiring, exploring and developing copper-cobalt-gold assets in Chile. The Company's projects are located in the prolific Candelaria iron oxide copper-gold (IOCG) belt of Chile's coastal Cordillera. Red Metal is quoted on the CSE under the symbol RMES and on OTC Link alternative trading system on the OTC Pink marketplace under the symbol RMESF.

    Forward-Looking Statements

    All statements in this press release, other than statements of historical fact, are "forward-looking information" within the meaning of applicable securities laws including, without limitation statements related to the description of its exploration plans. Red Metal provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to exploration findings, results and recommendations, ability to raise adequate financing, receipt of required approvals and unprecedented market and economic risks associated with current unprecedented market and economic circumstances, as well as those risks and uncertainties identified and reported in Red Metal's public filings under its SEDAR profile at www.sedar.com. Although Red Metal has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Red Metal disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

    The CSE has not approved or disapproved the contents of this news release or passed upon the merits of any of the transactions described herein.

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

    For more information, visit www.redmetalresources.com

    Contact:
    Red Metal Resources Ltd.
    Caitlin Jeffs, P.Geo, CEO
    1-866-907-5403
    www.redmetalresources.com

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    To: LoneClone who wrote (162770)1/14/2022 12:10:11 PM
    From: LoneClone
       of 168835
     
    Teck says United Steelworkers issue strike notice at its Highland Valley copper mine

    ca.finance.yahoo.com

    Wed., January 12, 2022, 6:00 a.m.·1 min read

    VANCOUVER —
    Teck Resources Ltd. has received strike notice from the union representing workers at the company's Highland Valley Copper operations in British Columbia's southern Interior.

    A statement from Teck says the United Steelworkers Local 7619 issued strike notice Tuesday.

    The company says the 1,048 workers covered by the notice would be entitled to begin job action when 72-hour strike notice expires and 48 hours after the mediator reports to the Labour Relations Board.

    A round of mediated talks is scheduled for Friday and Teck says the earliest strike action could start is Sunday.

    United Steelworkers members at the Kamloops-area mine have been without a contract since Sept. 30, 2021.

    Highland Valley Copper is the largest open-pit copper and molybdenum mine in Canada and the company's website says annual production this year is expected to be between 135,000 and 165,000 tonnes.

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    To: LoneClone who wrote (162771)1/14/2022 12:12:22 PM
    From: LoneClone
       of 168835
     
    American Pacific Partner Drills 14.44 g/t Gold Over 6.53 Metres; Including 146 g/t Gold and 0.98% Copper Over 0.48 Metres at its Madison Copper-Gold Project in Montana

    ca.finance.yahoo.com

    American Pacific Mining Corp.
    Wed., January 12, 2022, 1:00 p.m.·7 min read

    Figure 1



    2021 Cross Section Highlighting Drill Hole MADN0033
    2021 Cross Section Highlighting Drill Hole MADN0033Figure 2



    Planimetric View
    Planimetric ViewTable 1



    Additional Notable Drill Intercepts from 2021 Drill Program
    Additional Notable Drill Intercepts from 2021 Drill ProgramTable 2



    2021 Drilling Program Location, Dip, Azimuth and Total Depth

    VANCOUVER, British Columbia, Jan. 12, 2022 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE: USGD / OTCQB: USGDF / FWB: 1QC) (“American Pacific” or “the Company”) is pleased to report drill results from its 2021 drilling programs conducted by Kennecott Exploration Company (“Kennecott”), a division of the Rio Tinto Group, on the Company’s Madison Copper- Gold Project (the “Madison Project”), in Montana, USA. The Kennecott drilling program consisted of 10 core holes for a total of 3,598 metres (“m”), which focused on extensions of high-grade gold-copper skarn mineralization as well as new target concepts at Madison.

    Highlights:

  • MADN0033 cut 14.44 g/t gold (“Au”) and 0.11% copper (“Cu”) over 6.53 m.

  • Including 39.57 g/t Au and 0.28% Cu over 2.35 m and 146 g/t Au and 0.98% Cu over 0.48 m (third highest gold intercept ever reported at Madison)

  • MADN0033 assay results demonstrate the significant potential to extend high-grade Au-Cu mineralization down plunge (see Figure 1)

  • New gold zone identified by drill hole MADN0033 is 55 metres from nearest drill intercept and 100 metres down dip

  • MADN0026 cut 2.01 g/t Au over 6 m and disseminated lower grade gold over 26 m.

  • MADN0032 intersected 1.64 g/t Au over 9 m within limestone breccia beyond the skarn, highlighting the potential for additional gold-bearing styles of mineralization at Madison.

  • An updated 3D model showing holes from this recently completed program can be found at the following link: https://www.americanpacific.ca/projects/madison/madison-mine-3d-model/

    American Pacific President, Eric Saderholm, stated: “The gold assays reported in MADN0033 represent the highest-grade gold intercepts reported to-date for American Pacific across our portfolio since the inception of the Company, and the third highest ever reported at Madison. The potential down plunge from MADN0033 is evident and the intersection of numerous styles of gold and copper mineralization across multiple rock units and lithologies is also quite encouraging. This speaks to the unique and powerful systems at Madison. We look forward to collaborating with our partner in the coming weeks to complete further modelling, analysis and define future exploration plans.”

    Figure 1. 2021 Cross Section Highlighting Drill Hole MADN0033 is available at globenewswire.com

    Figure 2. Planimetric View is available at globenewswire.com

    Table 1. Additional Notable Drill Intercepts from 2021 Drill Program is available at globenewswire.com

    Table 2. 2021 Drilling Program Location, Dip, Azimuth and Total Depth is available at globenewswire.com

    Background and Summary of Interpretation of Results: MADN0024-MADN0033

    The 2021 program was the third successful drilling campaign at the Madison Project. Drill hole MADN0033 was the highlight and will be the vector for additional drilling in the currently known mineralized area in 2022. Ten holes were drilled and nine of them encountered mineralization anomalies in a broad array of different rock lithologies. The Madison deposit contains numerous different styles of gold and copper mineralization, all of which can carry substantial metal values as can be seen in Table 1. This is an important point to emphasize. Every drill hole is an essential part of making deposits like Madison become mines. Drill hole MADN0032 is very interesting to the geologists at American Pacific Mining due to the strongly anomalous gold values that were encountered in a limestone rock package that has previously not been known to host mineralization. Hole MADN0033 also shows highly anomalous gold mineralization in iron-rich skarn, and warrants exploration drilling follow-up. Every drill hole from 2019 to 2021 has helped to further define the currently known mineralization and provided ample exploration vectors for additional targets both laterally and down-dip.

    The geochemical and geophysical programs in 2021 across the property have identified several strong anomalies well away from the current drilling that are currently under evaluation and these will be presented as they are interpreted and additional targets emerge.

    The Company’s wholly-owned Madison Project is currently under an earn-in with an option to joint venture agreement, whereby Rio Tinto may spend $30 million USD to earn up to 70% (see news release dated June 26, 2020).

    AMERICAN PACIFIC MANAGEMENT TO HOST LIVE WEBINAR EVENT:

    DATE: Wednesday, January 12th, 2022

    TIME: 1:45pm PST (4:45 EST)

    REGISTRATION LINK: Webinar Registration Link

    Quality Assurance, Quality Control

    The following measures were taken to ensure sample security: samples were submitted to the ALS Global lab by company personnel following the guidelines and procedures of Rio Tinto Exploration (Kennecott). Only authorized personnel have attended the samples.

    Analysis Suite

    ALS Global ran ALS Supertrace multielement four acid digest ICP-MS multicollector (ME-MS61L); Au by fire assay (Au-ICP21); RTX pXRF Cr, Nb, Si, Ta, Ti, Y, Zr (p-XRF-30 RT/p-XRF-30NDL); and VNIR/SWIR spectra (TRSPEC-20/INTERP-11).

    Audits or reviews

    The results of any audits or reviews concerning sampling techniques and data were reviewed by Kennecott personnel. Internal review of the core sample results by the Company’s management is routinely used through the course of the project.

    Standards, Blanks and Duplicates

    Several certified reference materials and one local (barren) blank were used as standards for QA/QC. The certified standards used include OREAS-504c, OREAS-254 which were obtained from OREAS based in Australia. Standard SK0500 is an in-house standard obtained from the Bingham Canyon Mine located in Utah. The blank samples consist of Lowe's River rock from Salt Lake City, Utah. These standards, as well as the blanks and duplicates, were inserted into the sample stream by Kennecott Exploration personnel.

    Qualified Persons

    Technical aspects of this press release have been reviewed and approved by Eric Saderholm, P.Geo. and Philip Mulholland P.Geo, the designated Qualified Persons (QP) under National Instrument 43-101.

    About American Pacific Mining Corp.

    American Pacific Mining Corp. is a precious metals explorer focused on opportunities in the Western United States. The Company's flagship asset is the high-grade, past-producing Madison Copper-Gold project in Montana which the Company acquired in 2020, and which is under option to joint venture with Kennecott Exploration Company, a division of the Rio Tinto Group. For this transaction, American Pacific was selected as a finalist in the S&P Global Platts Global Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories, including 'Deal of the Year,' the category in which American Pacific Mining competed. The awards program is hosted by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets. Also in the American Pacific's asset portfolio are the Gooseberry Silver-Gold project and the Tuscarora Gold-Silver project: two high-grade, precious metals projects located in key mining districts of Nevada, USA. The Company’s mission is to grow by the drill bit and by acquisition.

    On Behalf of the Board of American Pacific Mining Corp.

    “Warwick Smith”

    CEO & Director

    Corporate Office: Suite 910 – 510 Burrard Street Vancouver, BC, V6C 3A8 Canada

    Investor Relations Contact:

    Kristina Pillon, High Tide Consulting Corp.

    T: 604.908.1695
    E: Kristina@americanpacific.ca

    Media Relations Contact:

    Adam Bello, Primoris Group Inc.
    T: 416.489.0092
    E: media@primorisgroup.com

    Notes:

    For context and additional historic drilling results, please consult news releases from July 28th , 2020, November 2nd , 2020, January 19th , 2021 and the technical report for the Madison Project dated effective February 22, 2019, which was prepared in accordance with National Instrument 43-101 - Standards for Disclosure for Mineral Projects which is available on the Company’s website.

    globenewswire.com

    The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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