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Can the Fed Stop Inflation?

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	Image Crediit: Rick (flickr)

How Difficult Will it be for the Fed to Control Inflation?

 

The financial markets have a paradigm shift to contend with. This includes stocks, bonds, commodities, and cryptocurrency. For decades, the U.S. Central Bank was concerned with managing to avoid a deflationary spiral, any inflationary risk was minimal. The tide has turned, and those nominated and presumed to be filling the top two spots at the Fed now list inflation fighting as a priority.

Inflation’s
Impact on Market Moves

Generally speaking, in order for an investor to want to be involved in a stock or other investment it’s in part because they expect the outcome will place them even with or ahead of future price growth. Even at the most conservative end of the investment spectrum, U.S. Treasuries, and bank overnight lending rates, those involved demanded returns higher than the future expected level of inflation. When deflation was the expectation, rates below the recent inflation reports were accepted and had little difficulty attracting capital.

Yield/Inflation
Comparison

The chart below covers November 1976 through September 2021. It compares the inflation rate with overnight Fed Funds. The inflation measure used here is the conservative Trimmed PCE Inflation
Rate, which includes personal consumption expenditures (PCE) and only half the food and energy component (trimmed). This is typically lower than the consumer price index, which measures a basket of goods rather than what is actually consumed during the period. The trimmed PCE Inflation rate takes into account that people can substitute goods if one price goes up. The second line in the chart is the base overnight lending rate that banks charge each other to close out each day with the required reserves. This level is typically the lowest data point on the entire yield curve.

 

 

Even in this most conservative comparison, we see that the Fed Funds rate (green line) trades well above the inflation rate (red line). For this 45 year period, inflation averaged 3%, while the overnight interest rate averaged 4.72%. This is 58% higher. Fed funds is not a rate set by the market, it’s orchestrated through the Fed’s monetary policy. Currently, the Fed’s targeted rate is 0.00%-0.25%.  The most recent Trimmed PCE number is from September at 5.08% (the last point on chart).

Even at the high end of today’s overnight target (0.25%), inflation averaged 4.83% above Fed Funds. So while overnight interest rates have been historically 58% higher, currently, inflation is 2083% higher.

To stay within historic norms the Fed Funds target would be 7.75%-8.00%.

Plight of
the Fed

Outside of the U.S., countries are experiencing a resurgence of Covid-19. Some are responding with lockdowns and other steps that are sure to lower economic output and consumption. The U.S. has not experienced this yet, but the possibility looms over economic activity and projections for the future. The economy is not at full employment and is considered too frail for the Fed to start tapping the economic brakes. However, with inflation’s high potential to linger or grow, the Fed shouldn’t be tapping the brakes, they should be jumping on them. This, of course, presumes that reeling in inflation is among their top priorities, as they have stated.

Plight of
the Treasury

The coming month of December will bring with it a lot of give-and-take between the two parties in Congress and the U.S. Secretary of the Treasury Janet Yellen. The problem is the United States is expected to run out of cash by mid-December. Without cash, it can’t pay its bills, it can’t pay employees, and won’t be able to retain reserve currency status. It would probably even suffer a severe drop in its credit rating if it defaulted on its debts.

This debt ceiling struggle has happened before; negotiations to raise the debt ceiling are common each year. This year is a bit different because, with the advent of the pandemic, Congress voted to suspend the debt ceiling until August 1, 2021. At that time, it was reinstated to $28.5 trillion. At its most basic, it allows the U.S. Treasury to go deeper in debt. While the wrestling match will go on before passing, either a stop-gap measure or a new ceiling could cause volatility in the markets.

Another concern is the cost of the debt. Congress could pass a debt ceiling limit that impacts the amount borrowed, but the amount paid back is impacted by prevailing interest rates when issued. Should, for example, rates rise to their more historical norm of 1.75% the rate of expected inflation, the cost of servicing new debt could increase to 20 times what it is now.

Take-Away

For decades investors were unconcerned about inflation or the erosive impact on spending power. Interest rates were brought down to help prop up an economy that had been challenged at times during these years. Because inflation was low, the Fed had room to do this. The mindset of investors should begin to include inflation and the Fed using tools to fight inflation. There will be a different impact on the various asset classes; for instance, stocks are considered a good hedge against inflation, bonds prices go down as rates tick up naturally or through Fed policy implementation.

The paradigm shift toward a Fed fighting inflation will take some more time to adopt than others. What is important to note in the tricky balance all of the policy-makers are contending with. There probably won’t be abrupt or surprising moves as policy adjusts.

 

Paul Hoffman

Managing Editor, Channelchek

 

 

Suggested Reading:



The Last Time Inflation Was This High Fed Funds Were 14.5%

The Detrimental Impact of Fed Policy on Savers





Will Small Cap Stocks Outperform in 2022?

Does Insider Selling Indicate Bearishness on the Company

 

Sources:

https://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-service/debt-limit

https://home.treasury.gov/system/files/136/Debt-Limit-Letter-to-Congress_20211119.pdf

https://www.cbo.gov/publication/57371

 

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Aurania Provides Update On Drilling & Conference Call Details

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Aurania Provides Update On Drilling & Conference Call Details

 

Toronto, Ontario, November 24, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) reports that drilling successfully intersected the targeted silver-zinc mineralized layer at Tiria-Shimpia in drill hole SH-004 and assays are awaited. Progress is also being made with exploration for sediment-hosted copper at the Tsenken target in the Company’s Lost Cities – Cutucu Project area (“Project”) in southeastern Ecuador. Copper has been intersected in several sedimentary layers and targets were refined during a week-long site visit by a specialist in sediment-hosted copper, zinc and lead, Professor Gregor Borg, his third visit to the Project.

Aurania’s Chairman and CEO, Dr. Keith Barron and President, Dr. Richard Spencer will be hosting a webcasted exploration update conference call on Friday, November 26, 2021, to discuss recent developments. The webcast link and dial-in details for the conference call are listed below.

Conference Call & Webcast Details

Date and time: November 26th at 11:00am ET.

Webcast URL:  Click here to join the webcast.

When prompted, webcast participants enter: First Name, Last Name, Company, Email Address.

Participant Telephone Numbers*

Canada/USA Toll Free: 1-800-319-4610

Toronto Toll: +1-416-915-3239

UK & Europe Toll Free: 0808-101-2791

*Callers should dial in 5 – 10 min prior to the scheduled start time and simply ask to join Aurania’s call.

————————————————————————————————————————–

Drilling at Tiria-Shimpia

Drill hole SH-004 at Tiria-Shimpia intersected the zinc-bearing mineralized layer as planned at the location indicated in the press release dated October 28, 2021.  Assay results are expected in December and will be press released at that time.

Drilling at Tsenken

A breakthrough has been made in the exploration for sediment-hosted copper with the recognition, confirmed and elaborated on by Prof. Borg, of evidence for evaporite layers, which contain salt and sulphates, within the red-beds at Tsenken and in the limestones at Tiria-Shimpia. Evaporites are the end products of evaporation of saline lakes in desert conditions.  A modern analogue would be Israel’s Dead Sea.  Evaporites are critical in our model to the formation of copper, silver and zinc deposits, as described below.

TSN1-008 has been completed and drill hole TSN1-009 is scheduled to start within days.  Final results have been received for TSN1-007.

Results and their context are as follows:

Hole TSN1-007:

  • Hole TSN1-007 confirms continuity of mineralization from surface to depth.
  • The grade of a mineralized sedimentary layer that lies adjacent to an evaporite-related unit at surface, was 1.9% copper and 3 grams per tonne (“g/t”) silver and the same layer, intersected at 157m down-hole, contains 0.5% copper over an interval of 1.7 metres (“m”). Both are partial results because the mineralization has been weathered (Figure 1). Weathering results in the formation of acid that would have dissolved and removed copper from the sedimentary layer. To establish the true grade of this sedimentary layer, it would have to be intersected below the weathered layer that reaches a depth of at least 120m below surface, illustrated in Figure 2, in the tropical, high rainfall environment of the Project.
  • The lower part of the drill hole cut a 26m thick evaporite layer. Evaporite is an important component to sediment-hosted mineralization because it forms a seal against which metal-bearing fluids dam, and many deposits are located against such barriers. Evaporite also provides a source of sulphate that would cause the metals to be deposited as sulphides, the form in which metals are found in most sediment-hosted deposits.
  • True to this exploration model, pyrite was intersected immediately beneath the evaporite layer in hole TSN1-007, confirming that the process of fluids carrying metal, in this case, iron, reacted with the sulphate in the evaporite to form iron sulphide (pyrite). This validates the exploration model, confirming the central role that evaporites play in causing metals to precipitate. Copper mineralization beneath this specific evaporite layer is likely to be located closer to the fault that fed metal-bearing fluids into the sedimentary layering. Drill hole TSN1-009 has been sited adjacent to the feeder fault system.
  • This is the second time that continuity of mineralization has been confirmed; the first was in hole TSN1-003 where an intercept of 1m at 0.5% copper and 4g/t silver represents the extension of a mineralized layer sampled at surface. Although not economic, this result provides support for the exploration model and is a vector that helps refine the target area in which higher copper grades should lie.

Hole TSN1-008 – assay results are awaited:

  • TSN1-008 intersected a 30cm thick evaporite layer that was mapped at surface. A broken rock layer (known as collapse breccia, the significance of which is described below) above the evaporite layer would have provided permeability for fluids to flow along the evaporite seal, and to interact with it. Vestiges of copper sulphide have been protected from weathering in the evaporite, whereas the adjacent, more permeable broken rock has been weathered and any copper that it contained is likely to have been leached, leaving behind pathfinder elements such as arsenic and silver.

Figure 1. Photograph of green malachite (copper carbonate) and black tenorite (copper oxide) in the intercept of a mineralized layer that extends from surface to depth, where it was cut in hole TSN1-007. The intercept is from a down-hole depth of 158m, approximately 120m below surface, and the occurrence of oxide and carbonate copper minerals indicates that the original sulphide copper has been leached by weathering.

Figure 2. Vertical profile through the Tsenken area showing approximate drill hole locations projected onto the plane of the profile.  The graphic shows red-beds that contain evaporite layers (or remnants of layers confirmed during Prof. Gregor Borg’s recent visit to site).  The main evaporite layer is at the base of the red-beds where they transition to limestone and shale layers.  Copper targets are shown in orange. The approximate depth of weathering is also shown. Weathering occurs to a depth of at least 120m below surface.

Site Visit by Prof. Gregor Borg

Prof. Borg has just completed his third visit to site where he reviewed field data, exploration results and drill core from both the Tsenken and Tiria-Shimpia targets to verify and provide feedback on Aurania’s current exploration models.

The most significant outcome of his visit was confirmation of features in the core that derive from salt layers being dissolved, leaving cavities that subsequently collapse. These “collapse breccias” represent good targets. They are layers of permeable rubble that provide plumbing for metal-bearing fluids, while sulphate that commonly occurs with the salt, provides a source of sulphur that traps metals as sulphides.

The second most important outcome of Prof. Borg’s visit was the recognition of growth faults in the red-beds.  These are steep extensional faults that remain active during sedimentation so that the individual units are thicker on one side than the other.  Oversteepening of fault ridges causes material to slide and produce what can be extensive breccia units.  In the Caribbean, these porous breccia units are targets for oil and gas drilling, but equally in our model they could be important targets for metal mineralization.

Sample Analysis & Quality Assurance / Quality Control (“QAQC”)

Laboratories: The samples were prepared for analysis at MS Analytical (“MSA”) in Cuenca, Ecuador, and the analyses were done in Vancouver, Canada.

Sample preparation: The rock samples were jaw-crushed to 10 mesh (crushed material passes through a mesh with apertures of 2 millimetres (“mm”)), from which a one-kilogram sub-sample was taken.  The sub-sample was crushed to a grain size of 0.075mm and a 200-gram (“g”) split was set aside for analysis.

Analytical procedure:  Approximately 0.25g of rock pulp underwent four-acid digestion and analysis for 48 elements by ICP-MS. For the over-limit samples, those that had a grade of greater than 1% copper, zinc and lead, and 100g/t silver, 0.4 grams of pulp underwent digestion in four acids and the resulting liquid was diluted and analyzed by ICP-MS.

QAQC: Aurania personnel inserted a certified standard pulp sample, alternating with a field blank, at approximate 20 sample intervals in all sample batches. Aurania’s analysis of results from its independent QAQC samples showed the batches reported on above, lie within acceptable limits.  In addition, the labs reported that the analyses had passed their internal QAQC tests.

Qualified Person

The geological information contained in this news release has been verified and approved by Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America.  Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at  https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir

VP Investor Relations

Aurania Resources Ltd.

(416) 367-3200

carolyn.muir@aurania.com

 Dr. Richard Spencer

President

Aurania Resources Ltd.

(416) 367-3200

richard.spencer@aurania.com

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

Forward-Looking Statements

This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurania. Forward-looking statements include estimates and statements that describe Aurania’s future plans, objectives or goals, including words to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, the effects of COVID-19 on the business of the Company including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains, and those risks set out in Aurania’s public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aurania disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

QuickChek – November 24, 2021

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Aurania Provides Update On Drilling & Conference Call Details

Aurania Resources announced that drilling successfully intersected the targeted silver-zinc mineralized layer at Tiria-Shimpia in drill hole SH-004 and assays are awaited

Research, News & Market Data on Aurania

Watch recent presentation from Aurania



Great Bear Discovers New Gold Zone West of Hinge and Limb Zones: 20.27 g/t Gold Over 1.75 m, Within 5.69 g/t Gold Over 7.05 m; Reports New LP Fault Results Including 16.07 g/t Gold Over 3.70 m Within 3.10 g/t Gold Over 28.30 m

Great Bear Resources announced drill results from its 100% owned flagship Dixie Project, in the Red Lake district of Ontario

Research, News & Market Data on Great Bear

Watch recent presentation from Great Bear



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Research, News & Market Data on Kratos

 

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Release – Great Bear Discovers New Gold Zone West of Hinge and Limb Zones

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Great Bear Discovers New Gold Zone West of Hinge and Limb Zones: 20.27 g/t Gold Over 1.75 m, Within 5.69 g/t Gold Over 7.05 m; Reports New LP Fault Results Including 16.07 g/t Gold Over 3.70 m Within 3.10 g/t Gold Over 28.30 m

 

November 24, 2021 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today reported drill results from its 100% owned flagship Dixie Project, in the Red Lake district of Ontario.

Chris Taylor, President and CEO of Great Bear said, “We recently resumed drilling near the Hinge and Limb zones and discovered a new, high-grade gold zone west of those targets.  The new “Midwest” zone closely resembles the style of gold mineralization observed at the Dixie Limb zone; both occur at the sheet-like contacts between different basalt units and consist of silica-sulphide replacement style mineralization including high-grade gold.  Several historical holes which tested the Limb zone, did not penetrate far enough to the west to intersect the Midwest zone.  In addition to drilling other new, untested basalt contacts, the Company will re-enter and extend previously drilled holes into the Midwest area.  Additionally, ongoing drilling of the LP Fault zone continues to return significant gold intervals at depths ranging from bedrock surface to over 600 vertical metres.”

New Midwest Zone Drilling Highlights

  • Drill hole DL-071 intersected the new “Midwest” zone, located 275 metres northwest of the Hinge zone and 250 metres south of the Dixie Limb zone, assaying 20.27 g/t gold over 1.75 metres from 812.35 to 814.10 metres downhole.  The total mineralized interval was 5.69 g/t gold over 7.05 metres from 809.95 to 817.00 metres downhole.  Table 1.
  • The new discovery consists of high-grade gold in silica-sulphide replacement alteration at the subvertical planar contact between two basalt flows and is most similar to the Dixie Limb zone in style.
  • Until this discovery, it was thought that the only mineralized basalt-basalt contact occurred at the Dixie Limb zone.  It is now confirmed that additional basalt-basalt contacts can also localize silica-sulphide replacement mineralization including high-grade gold.
  • Great Bear’s drilling and geophysical data suggest additional basalt-basalt contacts may occur within the mafic volcanic package southwest of the LP Fault zone, defining new drill targets.

All significant gold zones at Dixie occupy a 1.4 kilometre wide “dilation zone” shown on Figure 1, where many geological contacts and structures are mineralized.  A report on seismic surveys by Zeng and Calvert, 2006 presents an interpretation that this structural zone reaches the base of the continental crust.  At the Dixie project, the zone contains a broad structural corridor with more than 18 kilometres of strike length.  Gold has been drilled along 11 kilometres of strike length to date.  In addition to ongoing drilling of the LP Fault, Phase 2 drilling will continue to test various new targets such as the new Midwest zone within this broad structurally dilated and mineralized corridor.

New LP Fault Drilling Highlights

Ongoing LP Fault drilling continues to systematically expand gold mineralization, including at depth.  Current drill holes targeted the zone at various points along 2.9 kilometres of strike length, between bedrock surface and approximately 600 metres vertical depth.  Table 2.

New drilling primarily targeted 1) extensions to the 23 high-grade domains currently being modeled, including at depth, and 2) the lower-grade halo up to 200 metres from the centre of the zone.  Gold mineralization is typically strongest within, and proximal to, the high-grade domains that occur towards the centre of the zone.  Highlights include:

  • Drill holes BR-406 and BR-407 increase the drilled depth of the LP Fault gold zone to approximately 450 metres vertically from surface on their drill section.  Results include:
    • BR-406: 66.30 g/t gold over 0.50 metres from 407.30 metres to 407.80 metres downhole.  This occurred within a broader interval assaying 6.15 g/t gold over 7.20 metres from 406.80 to 414.00 metres downhole.
    • BR-406: 42.60 g/t gold over 0.50 metres from 452.15 to 452.65 metres downhole.  This also occurred within a broader interval assaying 3.24 g/t gold over 12.25 metres.
    • BR-406: The total mineralized interval was 2.03 g/t gold over 45.85 metres from 406.80 to 452.65 metres downhole.
    • BR-407: 11.29 g/t gold over 3.00 metres from 496.00 to 499.00 metres downhole, which occurred within a broad interval of 4.55 g/t gold over 25.50 metres from 473.50 to 499.00 metres downhole. 
    • BR-407: The total mineralized interval was 1.83 g/t gold over 91.35 metres from 430.40 to 521.75 metres downhole.
  • Shallower LP Fault drill holes were also completed to fill in gaps of up to 100 metres in past drilling.  Drill hole BR-426 intersected several high-grade, mid-grade and low-grade gold intervals over 150.20 metres of core length, consistent with previously reported continuity of gold mineralization in this area (see news releases of June 3, 2021 and September 9, 2021).  Results include:
    • BR-426 collared in a broad low-grade gold interval from bedrock surface assaying 0.59 g/t gold over 65.70 metres from 28.50 to 94.20 metres downhole.
    • It also intersected high-grade gold assaying 16.07 g/t gold over 3.70 metres from 174.30 to 178.00 metres downhole.  The broader mineralized interval was 3.10 g/t gold over 28.30 metres from 165.20 to 193.50 metres downhole.
  • Shallow drill hole BR-438 intersected several mineralized intervals over 258.10 metres of core length, including:
    • 32.40 g/t gold over 0.50 metres from 72.10 to 72.60 metres downhole, within a broader interval assaying 1.62 g/t gold over 11.20 metres from 66.70 to 77.09 metres downhole,
    • 24.84 g/t gold over 0.90 metres from 128.35 to 129.25 metres downhole, within a broader interval assaying 6.00 g/t gold over 3.90 metres from 128.35 to 129.25 metres downhole,
    • 37.50 g/t gold over 1.00 metre from 153.60 to 154.50 metres downhole, within a broader interval assaying 2.53 g/t gold over 16.70 metres from 147.60 to 164.30 metres downhole, and
    • 40.00 g/t gold over 1.50 metres from 323.30 to 324.80 metres downhole.
  • Shallow drill hole BR-463 intersected near-surface high-grade gold assaying 21.00 g/t gold over 1.10 metres from 49.60 to 50.70 metres downhole.  The broader mineralized interval was 8.38 g/t gold over 4.20 metres from 46.50 to 50.70 metres downhole.
  • Upcoming LP Fault drill results include direct targeting of high-grade domains such as BR7 at depth (see news release of May 19, 2021).  Assay results are pending.

Grid Drilling the Hinge, Limb and Midwest Area

Results from the Hinge and Dixie Limb zones were last reported on May 11, 2020 (Dixie Limb zone: 10.19 g/t gold over 19.00 metres from 1,008.55 metres downhole), and December 9, 2020 (Hinge zone: 15.18 g/t gold over 4.90 metres from 1,190.00 metres downhole).  The Company has focused more than 90% of its drilling on the adjacent LP Fault zone throughout 2020 and 2021.

Great Bear has begun a new grid-based drill program on 25 – 100 metre centres in the Hinge, Limb and Midwest zone area which will support detailed mineral resource estimation drilling of these zones later in 2022.  Grid drilling is initially expected to cover an area of approximately 400 metres of strike length by 600 metres of vertical extent, as shown in Figure 2.

The purpose of grid drilling is to collect gold mineralization results, together with geological and oriented structural data that will be used to target steeply-plunging high-grade gold zones with shoot-like geometries that comprise the primary targets within each of these zones, throughout 2022.

The new Midwest zone was discovered in a previously undrilled area in a 200 to 300 metre step-out hole near the western margin of the newly planned drill grid.  Figure 2 and Figure 3.

The Hinge zone was discovered by Great Bear in 2018 (see news release of August 22, 2018) and consists of multiple sub-parallel “Red Lake style” high-grade gold-bearing, anastomosing quartz veins hosted by mafic rocks.   High-grade gold frequently concentrates in steeply-plunging shoot-like mineralized zones, as is typical in the Red Lake district.

The adjacent Dixie Limb zone was discovered by Teck Resources Ltd. in the 1980’s and was the first gold zone explored by Great Bear (see news release of September 7, 2017).  The Limb zone consists of silica-sulphide replacement mineralization containing mid- to high-grade gold located at the subvertical contact between two basalt units. 

Table 1: Dixie Limb, Hinge and Midwest zone drill results from expanded drill grid.  Multiple gold-bearing veins and mineralized contacts occur in this area.  Grid drilling will define areas to focus upcoming detailed definition of the high-grade “shoot-like” mineralized zones that are the primary targets in this area.

Drill Hole

 

From (m)

To (m)

Width* (m)

Gold (g/t)

Zone

DL-065

  

779.30

788.50

9.20

1.78

Limb

 

including

786.00

788.50

2.50

4.66

Limb

 

and including

787.25

788.50

1.25

6.39

Limb

 

and

976.45

977.30

0.85

6.70

Hinge Vein 1

 

and

984.35

989.00

4.65

3.15

Hinge Vein 2

 

including

985.75

987.50

1.75

5.38

Hinge Vein 2

 

and

1054.95

1061.20

6.25

1.55

Hinge Vein 3

 

including

1059.00

1059.55

0.55

14.70

Hinge Vein 3

 

and

1069.70

1072.70

3.00

3.45

Hinge Vein 4

 

including

1070.20

1071.20

1.00

9.72

Hinge Vein 4

DL-066

  

636.50

645.30

8.80

2.81

Limb

 

including

638.35

645.30

6.95

3.28

Limb

 

and including

638.35

639.75

1.40

5.77

Limb

 

and including

643.60

645.30

1.70

6.69

Limb

 

and

731.50

732.00

0.50

3.85

Unnamed Vein

DL-067

  

538.20

541.00

2.80

1.02

Unnamed Vein

 

and

575.90

582.80

6.90

0.57

Unnamed Vein

 

and

752.50

757.05

4.55

0.55

Unnamed Vein

 

and

871.55

872.10

0.55

7.12

Limb

DL-068

  

739.75

750.80

11.05

1.15

Limb
 

including

746.85

750.80

3.95

2.26

Limb

DL-071

  

494.30

501.35

7.05

1.78

Unnamed Vein

 

including

494.30

497.60

3.30

2.26

Unnamed Vein

 

and

650.40

659.75

9.35

1.03

Limb

 

  

809.95

817.00

7.05

5.69

Midwest

 

including

812.35

817.00

4.65

8.31

Midwest

 

and including

812.35

814.10

1.75

20.27

Midwest

 

and including

812.35

813.45

1.10

30.35

Midwest

*True widths are 90% of interval widths based on intersection points of the drill hole intercept with the geological model and oriented drill core data. Interval widths are calculated using a 0.10 g/t gold cut-off grade with up to 3 m of internal dilution of zero grade.

Table 2: New LP Fault drill results.  Drill hole traces are shown on Figure 3.

Drill Hole

  

From (m)

To (m)

Width* (m)

Gold (g/t)

Section

BR-387

  

255.50

256.60

1.10

2.59

20975

 

and

318.70

321.00

2.30

2.27

 

 

including

320.45

321.00

0.55

7.86

 

 

and

346.80

348.10

1.30

1.92

 

 

and

436.00

438.00

2.00

4.25

 

 

including

437.00

438.00

1.00

7.76

 

BR-388

  

136.00

142.50

6.50

0.98

21025

 

and

554.00

568.90

14.90

0.57

  

BR-389

  

216.10

219.85

3.75

1.18

19550

 

including

218.95

219.55

0.60

4.14

 

 

and

249.00

262.75

13.75

0.66

 

 

including

259.80

262.75

2.95

1.99

 

BR-406

  

354.25

355.75

1.50

5.34

20625

 

and

406.80

452.65

45.85

2.03

 

 

including

406.80

414.00

7.20

6.15

 

 

and including

407.30

407.80

0.50

66.30

 

 

and including

440.40

452.65

12.25

3.24

 

 

and including

446.00

452.65

6.65

5.24

 

 

and including

452.15

452.65

0.50

42.60

 

BR-407

  

195.85

196.15

0.30

5.58

20600

 

and

430.40

521.75

91.35

1.83

 

 

including

431.50

500.00

68.50

2.30

 

 

and including

431.50

432.35

0.85

9.55

 

 

and including

443.60

447.70

4.10

3.59

 

 

and including

466.50

499.00

32.50

3.86

 

 

and including

473.50

499.00

25.50

4.55

 

 

and including

473.50

486.00

12.50

5.63

 

 

and including

496.00

499.00

3.00

11.29

 

 

and including

497.00

498.00

1.00

22.40

 

BR-426

  

28.50

94.20

65.70

0.59

20525

 

including

40.50

44.60

4.10

4.60

 

 

and including

40.50

43.00

2.50

6.02

 

 

and

165.20

193.50

28.30

3.10

 

 

including

168.00

178.70

10.70

7.45

 

 

and including

172.30

178.70

6.40

11.08

 

 

and including

174.30

178.00

3.70

16.07

 

 

and including

174.30

175.90

1.60

28.65

 

 

and including

174.30

175.10

0.80

34.10

 

BR-427

  

59.05

89.15

30.10

0.19

20475

 

and

217.25

224.20

6.95

0.50

 

 

including

230.70

232.55

1.85

1.58

 

BR-428

  

133.90

136.50

2.60

1.70

19775

BR-436

anomalous

14.70

16.50

1.80

0.21

21075

BR-437

anomalous

22.00

36.60

14.60

0.26

21025

BR-438

  

81.90

85.00

3.10

1.93

21000

 

including

84.50

85.00

0.50

9.48

  

BR-439

  

66.70

77.90

11.20

1.62

20950

 

including

72.10

72.60

0.50

32.40

 

 

and

108.50

111.30

2.80

1.95

 

 

and

128.35

132.25

3.90

6.00

 

 

including

128.35

129.25

0.90

24.84

 

 

and

147.60

164.30

16.70

2.53

 

 

including

153.60

154.60

1.00

37.50

 

 

and

268.70

269.40

0.70

4.25

 

 

and

323.30

324.80

1.50

40.00

 

BR-445

  

74.30

75.80

1.50

1.40

22300

BR-450

  

98.10

103.60

5.50

0.39

21500

BR-452

  

178.45

184.00

5.55

0.52

21625

BR-453

  

29.50

40.95

11.45

0.36

21775

BR-454

  

216.50

243.25

26.75

0.40

21625

 

and

288.70

289.70

1.00

4.94

  

BR-455

  

82.00

97.15

15.15

0.28

22475

BR-460

  

324.00

328.00

4.00

2.54

20950

 

including

326.00

327.00

1.00

9.54

 

 

and

407.00

418.00

11.00

0.52

 

BR-461

  

51.40

54.50

3.10

1.99

20425

 

including

53.80

54.50

0.70

7.94

 

 

and

74.10

105.90

31.80

0.41

 

BR-462

  

127.10

132.30

5.20

0.49

20375

BR-463

  

46.50

50.70

4.20

8.38

20250
 

including

49.60

50.70

1.10

21.00

  

*Represents core length. True mineralization widths range between 65- 95% of reported intervals as they are determined by both structural analyses obtained from oriented drill core data and orientations of individual high grade domains and bulk tonnage domains.  Mineralized domains vary in strike between 340 to 270 degrees and dip between 85 to 65 degrees to the north.  All drillholes intersect both high grade and bulk tonnage domains and often intersect multiple domains resulting in a range of true widths within the same drillhole.

Figure 1: 1.4 kilometre wide mineralized structural dilation zone at the centre of the Dixie property, section A-B.  New Midwest zone shown adjacent to Limb and Hinge zones.  Image of visible gold from the Midwest zone hole DL-071 is of a selected interval and does not represent all of the mineralization on the property.

Figure 2: Long section of gold zones within the mafic volcanic rocks to the west of the LP Fault zone.  Arrow, Midwest, and Hinge zones shown.  Limb zone is located away from the viewer, into the page.  Image of visible gold from the Midwest zone hole DL-071 is of a selected interval and does not represent all of the mineralization on the property.

Figure 3: Inclined plan map of the main gold zones at the Dixie property, showing the sections lines of Figures 1 and 2.

Drill collar location, azimuth and dip for drill holes included in this release are provided in the table below (UTM zone 15, NAD 83):

Hole ID

Easting

Northing

Elevation

Length

Dip

Azimuth

BR-387

456488

5634078

366

594

-51

29

BR-388

456388

5634043

367

846

-55

31

BR-389

458005

5633861

368

372

-52

212

BR-406

457070

5634439

357

606

-53

221

BR-407

457137

5634466

357

633

-54

211

BR-426

456947

5634000

357

394

-55

209

BR-427

456997

5633979

357

345

-55

210

BR-428

457756

5633909

364

348

53

207

BR-436

456468

5634235

361

144

-55

213

BR-437

456532

5634252

358

234

-56

213

BR-438

456580

5634298

358

207

-55

214

BR-439

456697

5634387

357

381

-55

212

BR-445

455496

5635017

377

150

-56

226

BR-450

456155

5634576

363

255

-49

41

BR-452

456075

5634654

364

279

-48

36

BR-453

455919

5634705

372

291

-49

39

BR-454

455983

5634549

371

435

-50

37

BR-455

455453

5635258

383

264

-59

226

BR-460

456710

5634430

357

534

-67

215

BR-461

457039

5633967

359

225

-51

211

BR-462

457097

5633964

361

285

-50

211

BR-463

457276

5634038

360

351

-51

206

DL-065

456829

5633763

361

1221

-56

227

DL-066

456720

5633739

354

999

-59

229

DL-067

456720

5633739

354

939

-54

231

DL-068

456741

5633815

360

1068

-61

227

DL-071

456568

5633740

354

993

-56

225

About the Dixie Project

The 100% owned flagship Dixie project boasts one of the largest recent gold discoveries in a Canadian mining jurisdiction.  Proximal to major infrastructure near the town of Red Lake, Ontario, the Dixie property comprises over 91.4 square kilometres of contiguous claims that extend over 22 kilometres with a paved highway and provincial power and natural gas lines.  The property also hosts a network of well-maintained logging roads which facilitate access.

23 high-grade domains are structurally and geologically distinctive from the surrounding lower grade, bulk tonnage style gold mineralization.  Together, they span a strike length of 4.2 kilometres and occur within larger stratigraphically controlled lower grade domains.  They are characterized by high degrees of strain and/or transposed quartz vein zones following two distinct structural fabrics and transition from upper greenschist to lower amphibolite facies metamorphism.  Gold in the high-grade domains is generally observed as free gold, is often transposed into, and overgrows the dominant structural fabrics, and is higher-grade on average than the surrounding bulk tonnage gold zones.

To date, Great Bear has completed a total of 721 drill holes, identifying five high-grade gold discoveries.  The most significant discovery is the large-scale “LP Fault” zone, which comprises high-grade disseminated gold mineralization within broad moderate-to-lower-grade envelopes in felsic volcanic and sediment units.  LP Fault drilling has identified gold mineralization along 11 kilometres of strike length to date, and a detailed drill grid is being completed along approximately 4 kilometres of strike length.  The nearby “Hinge”, “Limb”, “Midwest” and “Arrow” gold zones are more characteristic of the renowned Red Lake mined deposits, comprising gold-bearing quartz veins and silica-sulphide replacement zones hosted by mafic volcanic units.  Over 80% of the Company’s drill holes into the LP Fault, Dixie Limb and Hinge zones contain visible gold mineralization.  Gold occurs mainly as free gold, neither bound to nor within sulphide minerals.

Great Bear adheres to industry-leading quality assurance / quality control (QA/QC) practices in data collection, analysis and disclosure, and detailed assays including all historical LP Fault drill hole data are available on the Company’s website at https://greatbearresources.ca/projects/overview/dixie-project-data/.

About Great Bear

Great Bear Resources Ltd. is a Vancouver-based gold exploration company focused on advancing its 100% owned Dixie project in Northwestern Ontario, Canada.  A significant exploration drill program is currently underway to define the mineralization within a large-scale, high-grade disseminated gold discovery made in 2019, the LP Fault.  Additional exploration drilling is also in progress to expand and infill nearby high-grade gold zones, as well as to test new regional targets.  The Company is currently in the process of compiling all historical data together with incoming assay results, with the goal of publishing an initial multi-million ounce mineral resource estimate in accordance with NI 43-101 for the Dixie project in early 2022. 

Great Bear is a committed partner to all stakeholders, with a long-term vision of sustainable exploration to advance the Dixie project in a manner that demonstrates good stewardship of land, operational excellence and accountability.

QA/QC and Core Sampling Protocols

Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario.  Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories in Ontario, an accredited mineral analysis laboratory, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods.  Pulps from approximately 5% of the gold mineralized samples are submitted for check analysis to a second lab.  Selected samples are also chosen for duplicate assay from the coarse reject of the original sample.  Selected samples with visible gold are also analyzed with a standard 1 kg metallic screen fire assay.  Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program (QAQC).  No QAQC issues were noted with the results reported herein. 

Qualified Person and NI 43-101 Disclosure

Mr. R. Bob Singh, P.Geo, VP Exploration, and Ms. Andrea Diakow P.Geo, VP Projects for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

ON BEHALF OF THE BOARD

“Chris Taylor”

Chris Taylor, President and CEO

Investor Inquiries:
Ms. Jenni Piette,
Director, Sustainability and Stakeholder Relations
Tel: 604-646-8354
info@greatbearresources.ca
www.greatbearresources.ca

Cautionary note regarding forward-looking statements

This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.

Forward-looking information are based on management of the parties’ reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.

Such factors, among other things, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); discrepancies between actual and estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.

Great Bear undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

Release – Kratos Awarded $12 Million Contract to Provide Satellite Command and Control System Products and Sustainment

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Kratos Awarded $12 Million Contract to Provide Satellite Command and Control System Products and Sustainment

 

SAN DIEGO, 
Nov. 24, 2021 (GLOBE NEWSWIRE) — 
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it has received a delivery order valued at 
$12 million for satellite and communication system products, hardware and equipment. This is against a previously awarded contract.

This award is for mission activity and maneuver planning, telemetry processing, commanding, orbit and attitude management, resource management, space vehicle and ground system simulation, security, support planning and execution, training and testing.  The award will enable and sustain new capabilities such as virtualization, additional satellite constellation capacity and cybersecurity enhancements. Satellite state-of-health operations include launch, early orbit, on-orbit, anomaly resolution, disposal, and backup operations. 

“Kratos continues support to the 
U.S. military with products and tailored solutions for protected, resilient military satellite operations,” said  Phil Carrai, President of the Kratos Space, Training and Cyber Division. “During this time of increasingly congested and contested space operations, Kratos is uniquely able to provide a mix of cutting-edge technical solutions, products and services to support mission-specific requirements of defense applications.”

Eric DeMarco, Kratos President and CEO, said, “Kratos’ strategy is to be a disruptive change agent to the national security industry by rapidly providing first to market, affordable, leading technology systems, products and solutions to our customers. Kratos OpenSpace satellite ground system products and our global, Kratos-owned and operated space domain awareness system are uniquely positioned to address the large and growing space and satellite market opportunity, including a large and growing total addressable market and the forecast tens of thousands of additional government and commercial satellites expected to be placed in orbit by the end of the decade.”

Due to customer related and other considerations, no additional information will be provided related to this contract award.

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. At Kratos, affordability is a technology and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended 
December 27, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the 
SEC by Kratos.

Press Contact:
Yolanda White
858-812-7302 Direct
Investor Information:
877-934-4687
investor@kratosdefense.com

Source: Kratos Defense & Security Solutions, Inc.

Release – Aurania Provides Update On Drilling Conference Call Details

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Aurania Provides Update On Drilling & Conference Call Details

 

Toronto, Ontario, November 24, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) reports that drilling successfully intersected the targeted silver-zinc mineralized layer at Tiria-Shimpia in drill hole SH-004 and assays are awaited. Progress is also being made with exploration for sediment-hosted copper at the Tsenken target in the Company’s Lost Cities – Cutucu Project area (“Project”) in southeastern Ecuador. Copper has been intersected in several sedimentary layers and targets were refined during a week-long site visit by a specialist in sediment-hosted copper, zinc and lead, Professor Gregor Borg, his third visit to the Project.

Aurania’s Chairman and CEO, Dr. Keith Barron and President, Dr. Richard Spencer will be hosting a webcasted exploration update conference call on Friday, November 26, 2021, to discuss recent developments. The webcast link and dial-in details for the conference call are listed below.

Conference Call & Webcast Details

Date and time: November 26th at 11:00am ET.

Webcast URL:  Click here to join the webcast.

When prompted, webcast participants enter: First Name, Last Name, Company, Email Address.

Participant Telephone Numbers*

Canada/USA Toll Free: 1-800-319-4610

Toronto Toll: +1-416-915-3239

UK & Europe Toll Free: 0808-101-2791

*Callers should dial in 5 – 10 min prior to the scheduled start time and simply ask to join Aurania’s call.

————————————————————————————————————————–

Drilling at Tiria-Shimpia

Drill hole SH-004 at Tiria-Shimpia intersected the zinc-bearing mineralized layer as planned at the location indicated in the press release dated October 28, 2021.  Assay results are expected in December and will be press released at that time.

Drilling at Tsenken

A breakthrough has been made in the exploration for sediment-hosted copper with the recognition, confirmed and elaborated on by Prof. Borg, of evidence for evaporite layers, which contain salt and sulphates, within the red-beds at Tsenken and in the limestones at Tiria-Shimpia. Evaporites are the end products of evaporation of saline lakes in desert conditions.  A modern analogue would be Israel’s Dead Sea.  Evaporites are critical in our model to the formation of copper, silver and zinc deposits, as described below.

TSN1-008 has been completed and drill hole TSN1-009 is scheduled to start within days.  Final results have been received for TSN1-007.

Results and their context are as follows:

Hole TSN1-007:

  • Hole TSN1-007 confirms continuity of mineralization from surface to depth.
  • The grade of a mineralized sedimentary layer that lies adjacent to an evaporite-related unit at surface, was 1.9% copper and 3 grams per tonne (“g/t”) silver and the same layer, intersected at 157m down-hole, contains 0.5% copper over an interval of 1.7 metres (“m”). Both are partial results because the mineralization has been weathered (Figure 1). Weathering results in the formation of acid that would have dissolved and removed copper from the sedimentary layer. To establish the true grade of this sedimentary layer, it would have to be intersected below the weathered layer that reaches a depth of at least 120m below surface, illustrated in Figure 2, in the tropical, high rainfall environment of the Project.
  • The lower part of the drill hole cut a 26m thick evaporite layer. Evaporite is an important component to sediment-hosted mineralization because it forms a seal against which metal-bearing fluids dam, and many deposits are located against such barriers. Evaporite also provides a source of sulphate that would cause the metals to be deposited as sulphides, the form in which metals are found in most sediment-hosted deposits.
  • True to this exploration model, pyrite was intersected immediately beneath the evaporite layer in hole TSN1-007, confirming that the process of fluids carrying metal, in this case, iron, reacted with the sulphate in the evaporite to form iron sulphide (pyrite). This validates the exploration model, confirming the central role that evaporites play in causing metals to precipitate. Copper mineralization beneath this specific evaporite layer is likely to be located closer to the fault that fed metal-bearing fluids into the sedimentary layering. Drill hole TSN1-009 has been sited adjacent to the feeder fault system.
  • This is the second time that continuity of mineralization has been confirmed; the first was in hole TSN1-003 where an intercept of 1m at 0.5% copper and 4g/t silver represents the extension of a mineralized layer sampled at surface. Although not economic, this result provides support for the exploration model and is a vector that helps refine the target area in which higher copper grades should lie.

Hole TSN1-008 – assay results are awaited:

  • TSN1-008 intersected a 30cm thick evaporite layer that was mapped at surface. A broken rock layer (known as collapse breccia, the significance of which is described below) above the evaporite layer would have provided permeability for fluids to flow along the evaporite seal, and to interact with it. Vestiges of copper sulphide have been protected from weathering in the evaporite, whereas the adjacent, more permeable broken rock has been weathered and any copper that it contained is likely to have been leached, leaving behind pathfinder elements such as arsenic and silver.

Figure 1. Photograph of green malachite (copper carbonate) and black tenorite (copper oxide) in the intercept of a mineralized layer that extends from surface to depth, where it was cut in hole TSN1-007. The intercept is from a down-hole depth of 158m, approximately 120m below surface, and the occurrence of oxide and carbonate copper minerals indicates that the original sulphide copper has been leached by weathering.

Figure 2. Vertical profile through the Tsenken area showing approximate drill hole locations projected onto the plane of the profile.  The graphic shows red-beds that contain evaporite layers (or remnants of layers confirmed during Prof. Gregor Borg’s recent visit to site).  The main evaporite layer is at the base of the red-beds where they transition to limestone and shale layers.  Copper targets are shown in orange. The approximate depth of weathering is also shown. Weathering occurs to a depth of at least 120m below surface.

Site Visit by Prof. Gregor Borg

Prof. Borg has just completed his third visit to site where he reviewed field data, exploration results and drill core from both the Tsenken and Tiria-Shimpia targets to verify and provide feedback on Aurania’s current exploration models.

The most significant outcome of his visit was confirmation of features in the core that derive from salt layers being dissolved, leaving cavities that subsequently collapse. These “collapse breccias” represent good targets. They are layers of permeable rubble that provide plumbing for metal-bearing fluids, while sulphate that commonly occurs with the salt, provides a source of sulphur that traps metals as sulphides.

The second most important outcome of Prof. Borg’s visit was the recognition of growth faults in the red-beds.  These are steep extensional faults that remain active during sedimentation so that the individual units are thicker on one side than the other.  Oversteepening of fault ridges causes material to slide and produce what can be extensive breccia units.  In the Caribbean, these porous breccia units are targets for oil and gas drilling, but equally in our model they could be important targets for metal mineralization.

Sample Analysis & Quality Assurance / Quality Control (“QAQC”)

Laboratories: The samples were prepared for analysis at MS Analytical (“MSA”) in Cuenca, Ecuador, and the analyses were done in Vancouver, Canada.

Sample preparation: The rock samples were jaw-crushed to 10 mesh (crushed material passes through a mesh with apertures of 2 millimetres (“mm”)), from which a one-kilogram sub-sample was taken.  The sub-sample was crushed to a grain size of 0.075mm and a 200-gram (“g”) split was set aside for analysis.

Analytical procedure:  Approximately 0.25g of rock pulp underwent four-acid digestion and analysis for 48 elements by ICP-MS. For the over-limit samples, those that had a grade of greater than 1% copper, zinc and lead, and 100g/t silver, 0.4 grams of pulp underwent digestion in four acids and the resulting liquid was diluted and analyzed by ICP-MS.

QAQC: Aurania personnel inserted a certified standard pulp sample, alternating with a field blank, at approximate 20 sample intervals in all sample batches. Aurania’s analysis of results from its independent QAQC samples showed the batches reported on above, lie within acceptable limits.  In addition, the labs reported that the analyses had passed their internal QAQC tests.

Qualified Person

The geological information contained in this news release has been verified and approved by Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America.  Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at  https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir

VP Investor Relations

Aurania Resources Ltd.

(416) 367-3200

carolyn.muir@aurania.com

 Dr. Richard Spencer

President

Aurania Resources Ltd.

(416) 367-3200

richard.spencer@aurania.com

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This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurania. Forward-looking statements include estimates and statements that describe Aurania’s future plans, objectives or goals, including words to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, the effects of COVID-19 on the business of the Company including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains, and those risks set out in Aurania’s public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aurania disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Great Bear Discovers New Gold Zone West of Hinge and Limb Zones: 20.27 g/t Gold Over 1.75 m, Within 5.69 g/t Gold Over 7.05 m; Reports New LP Fault Results Including 16.07 g/t Gold Over 3.70 m Within 3.10 g/t Gold Over 28.30 m

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Great Bear Discovers New Gold Zone West of Hinge and Limb Zones: 20.27 g/t Gold Over 1.75 m, Within 5.69 g/t Gold Over 7.05 m; Reports New LP Fault Results Including 16.07 g/t Gold Over 3.70 m Within 3.10 g/t Gold Over 28.30 m

 

November 24, 2021 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today reported drill results from its 100% owned flagship Dixie Project, in the Red Lake district of Ontario.

Chris Taylor, President and CEO of Great Bear said, “We recently resumed drilling near the Hinge and Limb zones and discovered a new, high-grade gold zone west of those targets.  The new “Midwest” zone closely resembles the style of gold mineralization observed at the Dixie Limb zone; both occur at the sheet-like contacts between different basalt units and consist of silica-sulphide replacement style mineralization including high-grade gold.  Several historical holes which tested the Limb zone, did not penetrate far enough to the west to intersect the Midwest zone.  In addition to drilling other new, untested basalt contacts, the Company will re-enter and extend previously drilled holes into the Midwest area.  Additionally, ongoing drilling of the LP Fault zone continues to return significant gold intervals at depths ranging from bedrock surface to over 600 vertical metres.”

New Midwest Zone Drilling Highlights

  • Drill hole DL-071 intersected the new “Midwest” zone, located 275 metres northwest of the Hinge zone and 250 metres south of the Dixie Limb zone, assaying 20.27 g/t gold over 1.75 metres from 812.35 to 814.10 metres downhole.  The total mineralized interval was 5.69 g/t gold over 7.05 metres from 809.95 to 817.00 metres downhole.  Table 1.
  • The new discovery consists of high-grade gold in silica-sulphide replacement alteration at the subvertical planar contact between two basalt flows and is most similar to the Dixie Limb zone in style.
  • Until this discovery, it was thought that the only mineralized basalt-basalt contact occurred at the Dixie Limb zone.  It is now confirmed that additional basalt-basalt contacts can also localize silica-sulphide replacement mineralization including high-grade gold.
  • Great Bear’s drilling and geophysical data suggest additional basalt-basalt contacts may occur within the mafic volcanic package southwest of the LP Fault zone, defining new drill targets.

All significant gold zones at Dixie occupy a 1.4 kilometre wide “dilation zone” shown on Figure 1, where many geological contacts and structures are mineralized.  A report on seismic surveys by Zeng and Calvert, 2006 presents an interpretation that this structural zone reaches the base of the continental crust.  At the Dixie project, the zone contains a broad structural corridor with more than 18 kilometres of strike length.  Gold has been drilled along 11 kilometres of strike length to date.  In addition to ongoing drilling of the LP Fault, Phase 2 drilling will continue to test various new targets such as the new Midwest zone within this broad structurally dilated and mineralized corridor.

New LP Fault Drilling Highlights

Ongoing LP Fault drilling continues to systematically expand gold mineralization, including at depth.  Current drill holes targeted the zone at various points along 2.9 kilometres of strike length, between bedrock surface and approximately 600 metres vertical depth.  Table 2.

New drilling primarily targeted 1) extensions to the 23 high-grade domains currently being modeled, including at depth, and 2) the lower-grade halo up to 200 metres from the centre of the zone.  Gold mineralization is typically strongest within, and proximal to, the high-grade domains that occur towards the centre of the zone.  Highlights include:

  • Drill holes BR-406 and BR-407 increase the drilled depth of the LP Fault gold zone to approximately 450 metres vertically from surface on their drill section.  Results include:
    • BR-406: 66.30 g/t gold over 0.50 metres from 407.30 metres to 407.80 metres downhole.  This occurred within a broader interval assaying 6.15 g/t gold over 7.20 metres from 406.80 to 414.00 metres downhole.
    • BR-406: 42.60 g/t gold over 0.50 metres from 452.15 to 452.65 metres downhole.  This also occurred within a broader interval assaying 3.24 g/t gold over 12.25 metres.
    • BR-406: The total mineralized interval was 2.03 g/t gold over 45.85 metres from 406.80 to 452.65 metres downhole.
    • BR-407: 11.29 g/t gold over 3.00 metres from 496.00 to 499.00 metres downhole, which occurred within a broad interval of 4.55 g/t gold over 25.50 metres from 473.50 to 499.00 metres downhole. 
    • BR-407: The total mineralized interval was 1.83 g/t gold over 91.35 metres from 430.40 to 521.75 metres downhole.
  • Shallower LP Fault drill holes were also completed to fill in gaps of up to 100 metres in past drilling.  Drill hole BR-426 intersected several high-grade, mid-grade and low-grade gold intervals over 150.20 metres of core length, consistent with previously reported continuity of gold mineralization in this area (see news releases of June 3, 2021 and September 9, 2021).  Results include:
    • BR-426 collared in a broad low-grade gold interval from bedrock surface assaying 0.59 g/t gold over 65.70 metres from 28.50 to 94.20 metres downhole.
    • It also intersected high-grade gold assaying 16.07 g/t gold over 3.70 metres from 174.30 to 178.00 metres downhole.  The broader mineralized interval was 3.10 g/t gold over 28.30 metres from 165.20 to 193.50 metres downhole.
  • Shallow drill hole BR-438 intersected several mineralized intervals over 258.10 metres of core length, including:
    • 32.40 g/t gold over 0.50 metres from 72.10 to 72.60 metres downhole, within a broader interval assaying 1.62 g/t gold over 11.20 metres from 66.70 to 77.09 metres downhole,
    • 24.84 g/t gold over 0.90 metres from 128.35 to 129.25 metres downhole, within a broader interval assaying 6.00 g/t gold over 3.90 metres from 128.35 to 129.25 metres downhole,
    • 37.50 g/t gold over 1.00 metre from 153.60 to 154.50 metres downhole, within a broader interval assaying 2.53 g/t gold over 16.70 metres from 147.60 to 164.30 metres downhole, and
    • 40.00 g/t gold over 1.50 metres from 323.30 to 324.80 metres downhole.
  • Shallow drill hole BR-463 intersected near-surface high-grade gold assaying 21.00 g/t gold over 1.10 metres from 49.60 to 50.70 metres downhole.  The broader mineralized interval was 8.38 g/t gold over 4.20 metres from 46.50 to 50.70 metres downhole.
  • Upcoming LP Fault drill results include direct targeting of high-grade domains such as BR7 at depth (see news release of May 19, 2021).  Assay results are pending.

Grid Drilling the Hinge, Limb and Midwest Area

Results from the Hinge and Dixie Limb zones were last reported on May 11, 2020 (Dixie Limb zone: 10.19 g/t gold over 19.00 metres from 1,008.55 metres downhole), and December 9, 2020 (Hinge zone: 15.18 g/t gold over 4.90 metres from 1,190.00 metres downhole).  The Company has focused more than 90% of its drilling on the adjacent LP Fault zone throughout 2020 and 2021.

Great Bear has begun a new grid-based drill program on 25 – 100 metre centres in the Hinge, Limb and Midwest zone area which will support detailed mineral resource estimation drilling of these zones later in 2022.  Grid drilling is initially expected to cover an area of approximately 400 metres of strike length by 600 metres of vertical extent, as shown in Figure 2.

The purpose of grid drilling is to collect gold mineralization results, together with geological and oriented structural data that will be used to target steeply-plunging high-grade gold zones with shoot-like geometries that comprise the primary targets within each of these zones, throughout 2022.

The new Midwest zone was discovered in a previously undrilled area in a 200 to 300 metre step-out hole near the western margin of the newly planned drill grid.  Figure 2 and Figure 3.

The Hinge zone was discovered by Great Bear in 2018 (see news release of August 22, 2018) and consists of multiple sub-parallel “Red Lake style” high-grade gold-bearing, anastomosing quartz veins hosted by mafic rocks.   High-grade gold frequently concentrates in steeply-plunging shoot-like mineralized zones, as is typical in the Red Lake district.

The adjacent Dixie Limb zone was discovered by Teck Resources Ltd. in the 1980’s and was the first gold zone explored by Great Bear (see news release of September 7, 2017).  The Limb zone consists of silica-sulphide replacement mineralization containing mid- to high-grade gold located at the subvertical contact between two basalt units. 

Table 1: Dixie Limb, Hinge and Midwest zone drill results from expanded drill grid.  Multiple gold-bearing veins and mineralized contacts occur in this area.  Grid drilling will define areas to focus upcoming detailed definition of the high-grade “shoot-like” mineralized zones that are the primary targets in this area.

Drill Hole

 

From (m)

To (m)

Width* (m)

Gold (g/t)

Zone

DL-065

  

779.30

788.50

9.20

1.78

Limb

 

including

786.00

788.50

2.50

4.66

Limb

 

and including

787.25

788.50

1.25

6.39

Limb

 

and

976.45

977.30

0.85

6.70

Hinge Vein 1

 

and

984.35

989.00

4.65

3.15

Hinge Vein 2

 

including

985.75

987.50

1.75

5.38

Hinge Vein 2

 

and

1054.95

1061.20

6.25

1.55

Hinge Vein 3

 

including

1059.00

1059.55

0.55

14.70

Hinge Vein 3

 

and

1069.70

1072.70

3.00

3.45

Hinge Vein 4

 

including

1070.20

1071.20

1.00

9.72

Hinge Vein 4

DL-066

  

636.50

645.30

8.80

2.81

Limb

 

including

638.35

645.30

6.95

3.28

Limb

 

and including

638.35

639.75

1.40

5.77

Limb

 

and including

643.60

645.30

1.70

6.69

Limb

 

and

731.50

732.00

0.50

3.85

Unnamed Vein

DL-067

  

538.20

541.00

2.80

1.02

Unnamed Vein

 

and

575.90

582.80

6.90

0.57

Unnamed Vein

 

and

752.50

757.05

4.55

0.55

Unnamed Vein

 

and

871.55

872.10

0.55

7.12

Limb

DL-068

  

739.75

750.80

11.05

1.15

Limb
 

including

746.85

750.80

3.95

2.26

Limb

DL-071

  

494.30

501.35

7.05

1.78

Unnamed Vein

 

including

494.30

497.60

3.30

2.26

Unnamed Vein

 

and

650.40

659.75

9.35

1.03

Limb

 

  

809.95

817.00

7.05

5.69

Midwest

 

including

812.35

817.00

4.65

8.31

Midwest

 

and including

812.35

814.10

1.75

20.27

Midwest

 

and including

812.35

813.45

1.10

30.35

Midwest

*True widths are 90% of interval widths based on intersection points of the drill hole intercept with the geological model and oriented drill core data. Interval widths are calculated using a 0.10 g/t gold cut-off grade with up to 3 m of internal dilution of zero grade.

Table 2: New LP Fault drill results.  Drill hole traces are shown on Figure 3.

Drill Hole

  

From (m)

To (m)

Width* (m)

Gold (g/t)

Section

BR-387

  

255.50

256.60

1.10

2.59

20975

 

and

318.70

321.00

2.30

2.27

 

 

including

320.45

321.00

0.55

7.86

 

 

and

346.80

348.10

1.30

1.92

 

 

and

436.00

438.00

2.00

4.25

 

 

including

437.00

438.00

1.00

7.76

 

BR-388

  

136.00

142.50

6.50

0.98

21025

 

and

554.00

568.90

14.90

0.57

  

BR-389

  

216.10

219.85

3.75

1.18

19550

 

including

218.95

219.55

0.60

4.14

 

 

and

249.00

262.75

13.75

0.66

 

 

including

259.80

262.75

2.95

1.99

 

BR-406

  

354.25

355.75

1.50

5.34

20625

 

and

406.80

452.65

45.85

2.03

 

 

including

406.80

414.00

7.20

6.15

 

 

and including

407.30

407.80

0.50

66.30

 

 

and including

440.40

452.65

12.25

3.24

 

 

and including

446.00

452.65

6.65

5.24

 

 

and including

452.15

452.65

0.50

42.60

 

BR-407

  

195.85

196.15

0.30

5.58

20600

 

and

430.40

521.75

91.35

1.83

 

 

including

431.50

500.00

68.50

2.30

 

 

and including

431.50

432.35

0.85

9.55

 

 

and including

443.60

447.70

4.10

3.59

 

 

and including

466.50

499.00

32.50

3.86

 

 

and including

473.50

499.00

25.50

4.55

 

 

and including

473.50

486.00

12.50

5.63

 

 

and including

496.00

499.00

3.00

11.29

 

 

and including

497.00

498.00

1.00

22.40

 

BR-426

  

28.50

94.20

65.70

0.59

20525

 

including

40.50

44.60

4.10

4.60

 

 

and including

40.50

43.00

2.50

6.02

 

 

and

165.20

193.50

28.30

3.10

 

 

including

168.00

178.70

10.70

7.45

 

 

and including

172.30

178.70

6.40

11.08

 

 

and including

174.30

178.00

3.70

16.07

 

 

and including

174.30

175.90

1.60

28.65

 

 

and including

174.30

175.10

0.80

34.10

 

BR-427

  

59.05

89.15

30.10

0.19

20475

 

and

217.25

224.20

6.95

0.50

 

 

including

230.70

232.55

1.85

1.58

 

BR-428

  

133.90

136.50

2.60

1.70

19775

BR-436

anomalous

14.70

16.50

1.80

0.21

21075

BR-437

anomalous

22.00

36.60

14.60

0.26

21025

BR-438

  

81.90

85.00

3.10

1.93

21000

 

including

84.50

85.00

0.50

9.48

  

BR-439

  

66.70

77.90

11.20

1.62

20950

 

including

72.10

72.60

0.50

32.40

 

 

and

108.50

111.30

2.80

1.95

 

 

and

128.35

132.25

3.90

6.00

 

 

including

128.35

129.25

0.90

24.84

 

 

and

147.60

164.30

16.70

2.53

 

 

including

153.60

154.60

1.00

37.50

 

 

and

268.70

269.40

0.70

4.25

 

 

and

323.30

324.80

1.50

40.00

 

BR-445

  

74.30

75.80

1.50

1.40

22300

BR-450

  

98.10

103.60

5.50

0.39

21500

BR-452

  

178.45

184.00

5.55

0.52

21625

BR-453

  

29.50

40.95

11.45

0.36

21775

BR-454

  

216.50

243.25

26.75

0.40

21625

 

and

288.70

289.70

1.00

4.94

  

BR-455

  

82.00

97.15

15.15

0.28

22475

BR-460

  

324.00

328.00

4.00

2.54

20950

 

including

326.00

327.00

1.00

9.54

 

 

and

407.00

418.00

11.00

0.52

 

BR-461

  

51.40

54.50

3.10

1.99

20425

 

including

53.80

54.50

0.70

7.94

 

 

and

74.10

105.90

31.80

0.41

 

BR-462

  

127.10

132.30

5.20

0.49

20375

BR-463

  

46.50

50.70

4.20

8.38

20250
 

including

49.60

50.70

1.10

21.00

  

*Represents core length. True mineralization widths range between 65- 95% of reported intervals as they are determined by both structural analyses obtained from oriented drill core data and orientations of individual high grade domains and bulk tonnage domains.  Mineralized domains vary in strike between 340 to 270 degrees and dip between 85 to 65 degrees to the north.  All drillholes intersect both high grade and bulk tonnage domains and often intersect multiple domains resulting in a range of true widths within the same drillhole.

Figure 1: 1.4 kilometre wide mineralized structural dilation zone at the centre of the Dixie property, section A-B.  New Midwest zone shown adjacent to Limb and Hinge zones.  Image of visible gold from the Midwest zone hole DL-071 is of a selected interval and does not represent all of the mineralization on the property.

Figure 2: Long section of gold zones within the mafic volcanic rocks to the west of the LP Fault zone.  Arrow, Midwest, and Hinge zones shown.  Limb zone is located away from the viewer, into the page.  Image of visible gold from the Midwest zone hole DL-071 is of a selected interval and does not represent all of the mineralization on the property.

Figure 3: Inclined plan map of the main gold zones at the Dixie property, showing the sections lines of Figures 1 and 2.

Drill collar location, azimuth and dip for drill holes included in this release are provided in the table below (UTM zone 15, NAD 83):

Hole ID

Easting

Northing

Elevation

Length

Dip

Azimuth

BR-387

456488

5634078

366

594

-51

29

BR-388

456388

5634043

367

846

-55

31

BR-389

458005

5633861

368

372

-52

212

BR-406

457070

5634439

357

606

-53

221

BR-407

457137

5634466

357

633

-54

211

BR-426

456947

5634000

357

394

-55

209

BR-427

456997

5633979

357

345

-55

210

BR-428

457756

5633909

364

348

53

207

BR-436

456468

5634235

361

144

-55

213

BR-437

456532

5634252

358

234

-56

213

BR-438

456580

5634298

358

207

-55

214

BR-439

456697

5634387

357

381

-55

212

BR-445

455496

5635017

377

150

-56

226

BR-450

456155

5634576

363

255

-49

41

BR-452

456075

5634654

364

279

-48

36

BR-453

455919

5634705

372

291

-49

39

BR-454

455983

5634549

371

435

-50

37

BR-455

455453

5635258

383

264

-59

226

BR-460

456710

5634430

357

534

-67

215

BR-461

457039

5633967

359

225

-51

211

BR-462

457097

5633964

361

285

-50

211

BR-463

457276

5634038

360

351

-51

206

DL-065

456829

5633763

361

1221

-56

227

DL-066

456720

5633739

354

999

-59

229

DL-067

456720

5633739

354

939

-54

231

DL-068

456741

5633815

360

1068

-61

227

DL-071

456568

5633740

354

993

-56

225

About the Dixie Project

The 100% owned flagship Dixie project boasts one of the largest recent gold discoveries in a Canadian mining jurisdiction.  Proximal to major infrastructure near the town of Red Lake, Ontario, the Dixie property comprises over 91.4 square kilometres of contiguous claims that extend over 22 kilometres with a paved highway and provincial power and natural gas lines.  The property also hosts a network of well-maintained logging roads which facilitate access.

23 high-grade domains are structurally and geologically distinctive from the surrounding lower grade, bulk tonnage style gold mineralization.  Together, they span a strike length of 4.2 kilometres and occur within larger stratigraphically controlled lower grade domains.  They are characterized by high degrees of strain and/or transposed quartz vein zones following two distinct structural fabrics and transition from upper greenschist to lower amphibolite facies metamorphism.  Gold in the high-grade domains is generally observed as free gold, is often transposed into, and overgrows the dominant structural fabrics, and is higher-grade on average than the surrounding bulk tonnage gold zones.

To date, Great Bear has completed a total of 721 drill holes, identifying five high-grade gold discoveries.  The most significant discovery is the large-scale “LP Fault” zone, which comprises high-grade disseminated gold mineralization within broad moderate-to-lower-grade envelopes in felsic volcanic and sediment units.  LP Fault drilling has identified gold mineralization along 11 kilometres of strike length to date, and a detailed drill grid is being completed along approximately 4 kilometres of strike length.  The nearby “Hinge”, “Limb”, “Midwest” and “Arrow” gold zones are more characteristic of the renowned Red Lake mined deposits, comprising gold-bearing quartz veins and silica-sulphide replacement zones hosted by mafic volcanic units.  Over 80% of the Company’s drill holes into the LP Fault, Dixie Limb and Hinge zones contain visible gold mineralization.  Gold occurs mainly as free gold, neither bound to nor within sulphide minerals.

Great Bear adheres to industry-leading quality assurance / quality control (QA/QC) practices in data collection, analysis and disclosure, and detailed assays including all historical LP Fault drill hole data are available on the Company’s website at https://greatbearresources.ca/projects/overview/dixie-project-data/.

About Great Bear

Great Bear Resources Ltd. is a Vancouver-based gold exploration company focused on advancing its 100% owned Dixie project in Northwestern Ontario, Canada.  A significant exploration drill program is currently underway to define the mineralization within a large-scale, high-grade disseminated gold discovery made in 2019, the LP Fault.  Additional exploration drilling is also in progress to expand and infill nearby high-grade gold zones, as well as to test new regional targets.  The Company is currently in the process of compiling all historical data together with incoming assay results, with the goal of publishing an initial multi-million ounce mineral resource estimate in accordance with NI 43-101 for the Dixie project in early 2022. 

Great Bear is a committed partner to all stakeholders, with a long-term vision of sustainable exploration to advance the Dixie project in a manner that demonstrates good stewardship of land, operational excellence and accountability.

QA/QC and Core Sampling Protocols

Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario.  Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories in Ontario, an accredited mineral analysis laboratory, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods.  Pulps from approximately 5% of the gold mineralized samples are submitted for check analysis to a second lab.  Selected samples are also chosen for duplicate assay from the coarse reject of the original sample.  Selected samples with visible gold are also analyzed with a standard 1 kg metallic screen fire assay.  Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program (QAQC).  No QAQC issues were noted with the results reported herein. 

Qualified Person and NI 43-101 Disclosure

Mr. R. Bob Singh, P.Geo, VP Exploration, and Ms. Andrea Diakow P.Geo, VP Projects for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

ON BEHALF OF THE BOARD

“Chris Taylor”

Chris Taylor, President and CEO

Investor Inquiries:
Ms. Jenni Piette,
Director, Sustainability and Stakeholder Relations
Tel: 604-646-8354
info@greatbearresources.ca
www.greatbearresources.ca

Cautionary note regarding forward-looking statements

This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.

Forward-looking information are based on management of the parties’ reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.

Such factors, among other things, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); discrepancies between actual and estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.

Great Bear undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

Kratos Awarded $12 Million Contract to Provide Satellite Command and Control System Products and Sustainment

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Kratos Awarded $12 Million Contract to Provide Satellite Command and Control System Products and Sustainment

 

SAN DIEGO, 
Nov. 24, 2021 (GLOBE NEWSWIRE) — 
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it has received a delivery order valued at 
$12 million for satellite and communication system products, hardware and equipment. This is against a previously awarded contract.

This award is for mission activity and maneuver planning, telemetry processing, commanding, orbit and attitude management, resource management, space vehicle and ground system simulation, security, support planning and execution, training and testing.  The award will enable and sustain new capabilities such as virtualization, additional satellite constellation capacity and cybersecurity enhancements. Satellite state-of-health operations include launch, early orbit, on-orbit, anomaly resolution, disposal, and backup operations. 

“Kratos continues support to the 
U.S. military with products and tailored solutions for protected, resilient military satellite operations,” said  Phil Carrai, President of the Kratos Space, Training and Cyber Division. “During this time of increasingly congested and contested space operations, Kratos is uniquely able to provide a mix of cutting-edge technical solutions, products and services to support mission-specific requirements of defense applications.”

Eric DeMarco, Kratos President and CEO, said, “Kratos’ strategy is to be a disruptive change agent to the national security industry by rapidly providing first to market, affordable, leading technology systems, products and solutions to our customers. Kratos OpenSpace satellite ground system products and our global, Kratos-owned and operated space domain awareness system are uniquely positioned to address the large and growing space and satellite market opportunity, including a large and growing total addressable market and the forecast tens of thousands of additional government and commercial satellites expected to be placed in orbit by the end of the decade.”

Due to customer related and other considerations, no additional information will be provided related to this contract award.

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. At Kratos, affordability is a technology and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended 
December 27, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the 
SEC by Kratos.

Press Contact:
Yolanda White
858-812-7302 Direct
Investor Information:
877-934-4687
investor@kratosdefense.com

Source: Kratos Defense & Security Solutions, Inc.

Engine Media (GAME)(GAME:CA) – The Engine That Could

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Wednesday, November 24, 2021

Engine Media (GAME)(GAME:CA)
The Engine That Could

Engine Media Holdings Inc is engaged in esports data provision, esports tournament hosting, and esports racing. Its brand profile includes Eden Games, Allin sports, and UMG, and others. The company’s operating segments include E-Sports; Media and Advertising and Corporate and Other. It generates maximum revenue from the Media and Advertising segment. The Media and Advertising segment includes platform and advertising services provided to other broadcasters, primarily local tv and radio broadcasters.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    A solid Q4. Total company revenues of $11.7 million, (up 67% yoy) was better than our $10.8 million estimate, reflecting better than expected Advertising revenue, which beat our estimate by roughly 16%. The EBITDA loss was better than expected as well, $4.3 million loss versus our loss estimate of $5.2 million.

    Significant sequential revenue growth.  The company appears to have favorable revenue trajectory, with 22% sequential revenue growth from Q3. Advertising, which was the largest upside variance in the quarter, reflected a 37% sequential improvement from Q3, with CPMs up a strong 36% …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Palladium One High Grade Mineralization Extended 250 Meters Southwest of the Kaukua Open Pit Resource, Finland

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Palladium One High Grade Mineralization Extended 250 Meters Southwest of the Kaukua Open Pit Resource, Finland

 

Highlights

  • Geological interpretation changed at the Kaukua Deposit.
  • High-grade core zone extended to the southwest, 250 meters beyond the current Open Pit Mineral Resource Estimate (“MRE”).
  • 3.2 g/t Palladium Equivalent (Pd_Eq) over 13.7 meters, within 1.6 g/t Pd_Eq over 113.6 meters, in hole LK21-102, with individual samples grading up to 9.6 g/t Pd_Eq over 1.00 meters.
  • 3.3 g/t Pd_Eq over 9.6 meters, within 1.5 g/t over 113.4 meters, in hole LK21-100, with individual samples grading up to 5.9 g/t Pd_Eq over 1.5 meters.
  • 2.2 g/t Pd_Eq over 19.6 meters, within 1.5 g/t Pd_Eq over 74.5 meters, in hole LK21-101.

November 23, 2021 – Toronto, Ontario, Initial down plunge drilling, has extended mineralization 250 meters southwest of the open-pit constrained MRE of the Kaukua Deposit, by intersecting 2.2 g/t Pd_Eq over 19.6 meters, within 1.5 g/t Pd_Eq over 74.5 meters, starting at 273 meters down hole (LK21-101) (Figure 1), said Palladium One Mining Inc. (“Palladium One” or the “Company”).

Derrick Weyrauch, President and CEO commented: “The high-grade “Core Zone” of the Kaukua Deposit has been extended to the southwest and remains open for expansion. These are among the thickest intercepts to date within the Kaukua Deposit and will add significant tonnage to our existing resource endowment. An updated NI43-101 Mineral Resource Estimate is schedule for Q1 2022 and will incorporate these valuable results”

These drilling results extend the Kaukua Deposit mineralization southwest of the existing conceptual open-pit, where it remains open (Figure 1 and 2). Previous geological interpretations suggested that the Kaukua deposit was cut-off by a northwest trending fault, occupying a distinct magnetic low and topographic lineament. Drilling has now demonstrated that the magnetic low is the result of a later cross cutting dyke (now referred to as the high-titanium gabbro dyke) and that the Kaukua deposit remains open to the south. Significantly the high-grade “Core Zone” of the Kaukua Deposit has been extended 250 meters to the southwest and we have encountered some of the thickest intercepts (>100m) to date within the deposit.

Figure 1. Historic and current drilling in the Kaukua and Kaukau Southwest area having a drill data cut off date of September 4, 2021 (hole LK21-128), assays have been received for holes up to LK21-103, the remainder are pending. Background is Induced Polarization (“IP”) Chargeability.

Figure 2. Cross sections showing holes LK21-102, 107 and historic holes KAU07-005, KAU12-057 and 068 and their position with respect to the 2019 Kaukua Mineral Resource Estimate Whittle Open Pit.

Table 1. LK Project, Kaukua Drill Hole Results

Palladium Equivalent

The Company is calculating Palladium equivalent using US$1,600 per ounce for palladium, US$1,100 per ounce for platinum, US$1,650 per ounce for gold, US$3.50 per pound for copper, US$7.50 per pound for nickel, and $20/b cobalt consistent with the calculation used in the Company’s September 2021 NI 43-101 Haukiaho Resource Estimate.

Qualified Person

The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43-101

About Palladium One

Palladium One Mining Inc. is a mineral exploration and development company targeting district scale, Platinum-Group-Element (“PGE”)-Copper-Nickel deposits in leading mining jurisdictions. Its flagship project is the Läntinen Koillismaa (“LK”) PGE-Copper-Nickel project in north-central Finland, having an existing pit-constrained NI43-101 Mineral Resource Estimate and ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. In Canada, is the 2020 Discovery of the Year Award winning Tyko Copper-Nickel Project a high sulphide tenor, Copper-Nickel project.

ON BEHALF OF THE BOARD
“Derrick Weyrauch”
President & CEO, Director

For further information contact:
Derrick Weyrauch, President & CEO
Email: info@palladiumoneinc.com

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

This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Palladium One Mining Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

enCore Energy Advances Development at the South Texas Rosita Uranium Processing Plant; enCore Energy and Azarga Uranium Provide Plan of Arrangement Update

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enCore Energy Advances Development at the South Texas Rosita Uranium Processing Plant; enCore Energy and Azarga Uranium Provide Plan of Arrangement Update

 

VANCOUVER, BC, Nov. 23, 2021 /PRNewswire/ – enCore Energy Corp. (TSXV: EU) (OTCQB: ENCUF) (“enCore”) and Azarga Uranium Corp. (TSX: AZZ) (OTCQB: AZZUF) (FRA: P8AA) (“Azarga Uranium”) are pleased to provide an update on enCore’s modernization activities at the Rosita Central Processing Plant (“Rosita”) in South Texas expected to be complete in Q2/2022. enCore has also continued to advance its Texas asset acquisition strategy focused on established, previously permitted, projects with known mineralization to augment enCore’s existing pipeline of projects in proximity to Rosita.  Confirmation and development drilling has commenced at the newly acquired Rosita Extension, much of which lies within the existing permit area. This development will provide mineral interpretation and resources for wellfield design in keeping with planned commencement of production activities in 2023.

Paul Goranson, enCore’s Chief Executive Officer said, “The progress of enCore’s efforts in South Texas has been exceptional. Using our own in-house technical staff, we are executing our strategy targeting completion of the Rosita upgrades by the end of the second quarter 2022 and wellfield commissioning in the first half of 2023 with projects on schedule and on budget. As we advance our plans in South Texas and accelerate activities on the key Dewey Burdock and Gas Hills projects from the shareholder approved acquisition of Azarga Uranium, enCore is well on its way to being America’s premier ISR uranium producer.”

Rosita Central Processing Plant

The Rosita Central Processing Plant modernization commenced in July 2021 with a projected budget of less than US$1 million.  Work activities are now 50% complete, on schedule and on budget. Recent major equipment work includes the yellowcake filter press relocation and installation, completion of the ion exchange resin elution and the yellowcake dryer circuits.

Rosita Extension Confirmation and Development Drilling

A 50-hole confirmation and development drilling program is presently underway at the extension of the previous Rosita wellfields (the “Rosita Extension”).  The Rosita Extension was first explored by Mobil Oil Corporation who drilled over 800 holes to depths of up to 400 feet prior to 1984.  Subsequent operators completed additional exploration drill holes confirming mineralized trends.  

enCore and Azarga Uranium Arrangement Update

Following a vote by Azarga Uranium shareholders with over 99% of votes cast approving the transaction, enCore and Azarga Uranium are working together closely to complete the necessary regulatory approvals to complete the previously announced plan of arrangement (the “Transaction”).  An extension to the arrangement agreement has been executed to allow the parties to obtain normal course regulatory approvals, including approvals from the United States Nuclear Regulatory Commission and the British Columbia Supreme Court.

About enCore Energy Corp.

enCore Energy Corp., a U.S. domestic uranium developer focused on becoming a leading in-situ recovery (“ISR”) uranium producer, is led by a team of industry experts with extensive knowledge and experience in all aspects of ISR uranium operations. enCore Energy’s initial opportunities are created from the Company’s South Texas licensed and past-producing Rosita and Kingsville Dome ISR production facilities, under development, and multiple satellite projects in South Texas plus the changing global uranium supply/demand outlook and opportunities for industry consolidation. Large uranium resource endowments in New Mexico add to the asset base for long term growth and development opportunities.

About Azarga Uranium Corp.

Azarga Uranium is an integrated uranium exploration and development company that controls ten uranium projects and prospects in the United States of America (“USA”) (South Dakota, Wyoming, Utah and Colorado), with a primary focus of developing in-situ recovery uranium projects. The Dewey Burdock in-situ recovery uranium project in South Dakota, USA (the “Dewey Burdock Project”), which is the Company’s initial development priority, has been issued its Nuclear Regulatory Commission License and Class III and Class V Underground Injection Control permits from the Environmental Protection Agency and the Company is in the process of completing other major regulatory permit approvals necessary for the construction of the Dewey Burdock Project.

Cautionary Statements

Certain information contained herein constitutes forward-looking information or statements under applicable securities legislation and rules. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend”, “indicate”, “scheduled”, “target”, “goal”, “potential”, “subject”, “efforts”, “option” and similar words, or the negative connotations thereof, referring to future events and results.  Forward-looking statements in this press release include, but are not limited to, statements related to the timing of the completion of enCore’s modernization activities at Rosita and completion of wellfield commissioning, the ability of enCore in keeping with planned commencement of production activities in 2023, anticipated completion of the Transaction, the terms of the Transaction and receipt of certain regulatory approvals.

Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of enCore and/or Azarga Uranium to be materially different from those expressed or implied by such forward-looking statements, including, but not limited to: any inability of the parties to satisfy the conditions to the completion of the Transaction on acceptable terms or at all; receipt of necessary stock exchange, court and other regulatory approvals; the ability of enCore and Azarga Uranium to achieve their stated goals and objectives; the costs associated with the companies’ objectives; risks and uncertainties related to the COVID-19 pandemic and measures taken to attempt to reduce the spread of COVID-19; and the risks and uncertainties identified in enCore’s Management’s Discussion and Analysis for the nine months ended September 30, 2021 and Azarga Uranium’s Annual Information Form for the year ended December 31, 2020, each filed on SEDAR at www.sedar.com. Although management of each of enCore and Azarga Uranium has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, 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. Accordingly, readers should not place undue reliance on forward-looking statements. Neither party will update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. enCore and Azarga Uranium caution readers not to place undue reliance on these forward-looking statements and it does not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

This press release is not and is not to be construed in any way as, an offer to buy or sell securities in the United States. The distribution of the enCore common shares in connection with the transactions described herein will not be registered under the United States Securities Act of 1933 (the “U.S. Securities Act”) and the enCore common shares may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the enCore common shares, nor shall there be any offer or sale of the enCore common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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

SOURCE enCore Energy Corp.

Related Links

https://www.encoreenergycorp.com/

Will the Fed be Fighting Inflation Now?

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	Image: Fed Governor Lael Brainard and Fed Chair Jerome Powell

Why Less Gradual Tapering from the Fed is Likely

 

Does the re-nomination of current Fed Chair Jay Powell for a second term, and the nomination to elevate Fed Governor Lael Brainard to Vice-Chair indicate a status quo at the Fed? As it relates to fighting inflation, last month Powell said “we can be patient” in raising rates in order to “allow the labor market to heal.” In both Powell’s and Brainard’s acceptance statements, inflation was brought up as a problem – the familiar words “transitory” or “temporary” were non-existent. Instead, tackling inflation was considered a priority for both.

 

The Nominations

The President chose to renominate Jerome Powell for a second four-year term as Federal Reserve Chair yesterday (November 22).  Fed Governor Lael Brainard was nominated to replace Richard Clarida for the number two position at the Fed. Both candidates now need to be confirmed by the Senate.

Powell was appointed almost four years ago by President Trump. His confirmation is expected to be smooth. Brainard, who had been considered a potential replacement for Powell in the top spot, would likely have faced much more resistance to being confirmed for that position.

With the future make-up of the Fed largely out of the way, it appears a U-turn on inflation and a more hawkish demeanor could set a new tone at the December 15  Federal Open Market Committee’s (FOMC) meeting.

Evidence the Fed Will Alter Course

Fed Governor Christopher Waller argued in a speech Friday (November 19) that “the rapid improvement in the labor market and the deteriorating inflation data have pushed me towards favoring a faster pace of tapering and a more rapid removal of accommodation in 2022.”

James Bullard, who is a non-voting FOMC member, said, “I think it behooves the committee to go in a more hawkish direction in the next couple of meetings, so we are managing the risk of inflation appropriately.”

Outgoing Vice-Chair Clarida also spoke Friday and suggested that the committee would be best served by a debate about speeding up the currently-planned $15 billion per month taper pace to its asset purchase program at the upcoming meeting.  

Lael Brainard lead her acceptance statement with,  “I am committed to putting working Americans at the center of my efforts at the Federal Reserve. This means getting inflation down at a time when people are focused on their jobs and how far their paychecks will go.” 

The above comments, coupled with the statements released yesterday by the expected ongoing and incoming Fed heads, are evidence the Fed is altering course. While employment will still be a priority, inflation has become a big enough concern to move it to the forefront of the conversation.

 

Source: Fed Chair Powell’s acceptance statement

 

The change in tone at the top contrasts sharply with Powell’s declaration last month related to inflation, he said, “we can be patient” in raising rates in order to “allow the labor market to heal,” as total non-farm payrolls remain 3.9 million below their pre-pandemic peak. 

 

Source: Fed Chair Powell’s acceptance statement


Interest Rates

While the Fed debates its next move before the December 15 rate decision, the markets may move before they do. It is not uncommon for the Fed to create an environment where the bond market leads, the Fed then can check for economic fallout, and either matches the bond move or jawbone the bond market back. To date, Powell has said his timeline for rate hikes (Fed Funds) would not begin until after tapering was complete. At the current pace, bond purchases won’t fully end until June 2022.

Stocks and other Assets

Since Powell filled the role of Fed Chair in 2018, the S&P 500 has returned 76% and the Russell Small Cap index 63%. While the Fed’s stated role is not to meddle with stock prices, household wealth, including other assets (real estate, crypto, etc.) impact economic activity which is solidly in their wheelhouse. The four years under Powell have seen the best run-up in stocks since Alan Greenspan.

Will a Powell sequel be as good for asset prices as the first term?  What might a swifter-than-expected cessation of near-zero rates and Fed asset purchases mean for asset prices?  There are analysts and pundits lined up on both sides of this debate. Common arguments of those that are bearish say inflation shocks will lead to rate shocks. Assets that are vulnerable to higher rates, including real estate and heavily leveraged companies, may not fare well.

For those that see continued stock market growth, they point to the amount of additional money that has been created and circulating within the economy. The U.S. government’s planned spending programs alone are fiscally stimulating, perhaps not at the same degree as in 2020, but certainly by historical standards.

Take-Away

There is a change that is likely coming to monetary policy. Investors are best to stay in touch through sources whose purpose it is to look out for them. Registering for Channelchek
daily emails is one way to receive unique additional information on topics you care about.

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading:



Since 2008, Monetary Policy Has Cost American Savers about $4 Trillion

What the Infrastructure Law Does for Investors





Was the Inflation of 1982 Like Today’s?

Extremely Conservative Investors May Cause Small Companies to Outperform

 

Sources:

https://www.federalreserve.gov/newsevents/pressreleases/other20211122a.htm

https://www.federalreserve.gov/newsevents/pressreleases/other20211122b.htm

https://seekingalpha.com/news/3753290-markets-will-face-a-rates-shock-in-2022-bofa

https://www.grantspub.com/almostDailyHTML.cfm?dcid=964&article=2&email=phoffman%40channelchek%2Ecom

https://wolfstreet.com/2021/11/22/powell-brainard-suddenly-make-inflation-1-priority-in-their-thank-you-statements/

www.koyfin.com

 

Stay up to date. Follow us:

 

Release – Comtech Telecommunications Corp. Awarded $1.3 Million Contract Renewal with a U.S. Tier-One Carrier

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Comtech Telecommunications Corp. Awarded $1.3 Million Contract Renewal with a U.S. Tier-One Carrier

 

MELVILLE, N.Y.–(BUSINESS WIRE)–Nov. 23, 2021– 
November 23, 2021— 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies, announced today, that during its first quarter of fiscal 2022, it was awarded a 
$1.3 million contract renewal with a 
U.S. tier-one mobile network operator for precise location services.

“We believe our Position Determining Engine (“PDE”) to be the best available on a large scale,” said  Fred Kornberg, Chairman of the Board and Chief Executive Officer of 
Comtech Telecommunications Corp. “This customer’s end users will continue to benefit greatly from turn-by-turn navigation, family finder, and remote workforce management. They have come to rely on 
Comtech for this precise location information.”

The contract was awarded to Comtech’s Trusted Location group, a leading provider of precise device location, mapping and messaging solutions for public safety, mobile network operators, and enterprise solutions. Sold around the world to mobile network operators, government agencies, and Fortune 100 enterprises, our platforms locate, map, track and message. For more information, visit www.comtechlocation.com.

Comtech Telecommunications Corp. is a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies to commercial and government customers around the world. Headquartered in 
Melville, New York and with a passion for customer success, 
Comtech designs, produces and markets advanced and secure wireless solutions. For more information, please visit www.comtechtel.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s 
Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such 
Securities and Exchange Commission filings.

Comtech Investor Relations:
631-962-7005
investors@comtech.com

Source: 
Comtech Telecommunications Corp.