Author: Admin

Thursday, October 15, 2020

Sierra Metals (SMTS)(SMT:CA)

Better-Than-Expected Third Quarter Production; Increasing Estimates

As of April 24, 2020, Noble Capital Markets research on Sierra Metals is published under ticker symbols (SMTS and SMT:CA). The price target is in USD and based on ticker symbol SMTS. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Sierra Metals Inc is a precious and base metals producer in Latin America. The company acquires, explores, extracts, and produces mineral concentrates consisting of silver, copper, lead, zinc and gold in Mexico and Peru. Its activity includes the operation of the Yauricocha Mine in Peru, and the Bolivar and Cusi mines in Mexico. Yauricocha is an underground polymetallic mine using the sublevel block caving and cut-and-fill mining methods. Bolivar is a copper-silver-zinc-gold underground mine using room-and-pillar mining method. The majority of the revenue is earned by selling of the mineral concentrates to its customers in Peru.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

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

SMTS reports third quarter production results. Compared with the prior year period, third quarter copper production increased 9.2% to 12.2 million pounds, while gold, zinc, and silver increased 14.3%, 10.6%, and 4.8% to 3,989 ounces, 24.9 million pounds, and 1.0 million ounces, respectively. Lead production declined 6.2% to 9.9 million pounds. Third quarter production exceeded our expectations.


Updating estimates.  We have increased our full year 2020 EPS and EBITDA estimates to $0.14 and $83.9 million, respectively, compared to prior estimates of $0.13 and $82.0 million. Additionally, we have raised our 2021 EPS and EBITDA estimates to $0.30 and $137.8 million from $0.28 and $132.1 million, respectively, to reflect modestly higher production at Yauricocha based on greater average …

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. 

 

A two-minute primer on the LK Project

 

View our new video on the LK Project, located in Finland. It’s a quick introduction to Palladium One Mining, which is targeting large-scale platinum-group-element (PGE)-copper-nickel deposits in Finland and Canada. This video covers:

• location, infrastructure, and land tenure
• induced polarization (IP) chargeability anomaly
• exploration drilling and resource potential in the Kaukua South/East zone of the LK Project

“Our exploration program at LK this year is starting to realize the potential of this exciting project. Results from the Kaukua South Zone continue to indicate that the Kaukua area hosts the footprint of a large-scale, shallow, mineralized system displaying continuity,” said Derrick Weyrauch, President and Chief Executive Officer. “Meanwhile, the first diamond drill hole assays from the Haukiaho Trend, returned a wide interval of mineralization in a previously untested area.”

 

 

About Palladium One

Palladium One Mining Inc. is an exploration and development company targeting district scale, platinum-group-element-copper-nickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK Project, a palladium-dominant platinum group element-copper-nickel project in north central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 kilometers of favorable basal contact and building on an established NI 43-101 open pit resource.

Palladium One Mining is listed on the TSX Venture Exchange under the symbol PDM.

Wednesday, October 14, 2020

Ely Gold Royalties (ELYGF)(ELY:CA)

Deliberate Addition to ELY’s Growing Nevada Royalty Portfolio

As of April 24, 2020, Noble Capital Markets research on Ely Gold Royalties is published under ticker symbols (ELYGF and ELY:CA). The price target is in USD and based on ticker symbol ELYGF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. Ely Gold Royalties Inc is an emerging royalty company with producing and development assets focused in Nevada and the Western US. It offers shareholders a low-risk leverage to the current price of gold and low-cost access to long-term gold royalties.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

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

Trenton Canyon royalty acquisition. Ely Gold Royalties, through its wholly owned subsidiary Nevada Select Royalty, agreed to purchase a 0.3% net smelter returns royalty from a private individual. The Trenton Canyon royalty covers 52 unpatented mining claims located on the Battle Mountain-Eureka Trend in Nevada, which is included in a drilling program by SSR Mining (NASDAQ, SSRM, Not Rated). In a May 14th update, SSR indicated that exploration drilling on the Trenton Canyon property yielded high-grade gold results from newly discovered sulphide mineralization, while confirmation drilling for oxide mineralization also yielded gold intercepts.


Terms of the transaction.  Ely will pay total consideration of US$300 thousand, comprised of US$150 thousand in cash payable immediately and US$150 thousand in cash on January 15, 2021. Ely Gold will issue one million common stock warrants which have a two-year term with an exercise price of C$1.36. The transaction is expected to close on December 1, 2020 …

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. 

Wednesday, October 14, 2020

Endeavour Silver (EXK)(EDR:CA)

Making Good Progress

As of April 24, 2020, Noble Capital Markets research on Endeavour Silver is published under ticker symbols (EXK and EDR:CA). The price target is in USD and based on ticker symbol EXK. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Endeavour Silver Corp is a precious metal mining company. The company is primarily engaged in silver mining and owns three high-grade, underground, silver-gold mines in Mexico. Its other business activities include acquisition, exploration, development, extraction, processing, refining and reclamation. The company is organized into four operating mining segments, Guanacevi, Bolanitos, El Cubo, and El Compas, which are located in Mexico as well as Exploration and Corporate segments. Its Exploration segment consists of projects in the exploration and evaluation phases in Mexico and Chile.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

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

Third quarter production results. Compared to the prior year period, third quarter silver production declined 0.7% to 942,274 ounces while gold production increased 5.6% to 10,260 ounces. While silver production was below our expectations, gold production modestly exceeded our estimate. Fourth quarter throughput at Guanacevi is expected to reach 1,200 tonnes per day compared with 911 tonnes per day during the third quarter. Additionally, Bolanitos mine performance is expected to benefit from grade improvement. EXK sold 741,263 ounces of silver and 8,998 ounces of gold and ended the quarter with 412,913 ounces of silver and 1,963 ounces of gold bullion in inventory.


Maintaining EPS estimates.  We are maintaining our 2020 loss estimate of $(0.08) per share which reflects earnings per share of $0.02 and $0.03 in the third and fourth quarters, respectively. Our 2021 EPS estimate remains $0.16. Our 2020 and 2021 EBITDA estimates did move up modestly to $19.9 million and $70.1 million from $19.5 million and $68.6 million, respectively …

This 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. 

Sierra Metals Reports Record Third Quarter 2020 Production Results, As The Production Ramps Up To Full Capacity At All Three Mines

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TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) is pleased to report third-quarter 2020 production results.

Results are from Sierra Metals’ three underground mines in Latin America: The Yauricocha polymetallic mine in Peru, and the Bolivar copper and Cusi silver Mines in Mexico.

Third Quarter 2020 Consolidated Production Highlights

• Copper production of 12.2 million pounds; a 9% increase from Q3 2019
• Silver production of 1.0 million ounces; a 5% increase from Q3 2019
• Gold production of 3,990 ounces; a 14% increase from Q3 2019
• Zinc production of 24.9 million pounds; an 11% increase from Q3 2019
• Lead production of 9.9 million pounds; a 6% decrease from Q3 2019
• Copper equivalent production of 35.2 million pounds; a 9% increase from Q3 2019
• Record quarterly ore throughput, and copper and gold production at the Bolivar Mine in Mexico
• Record quarterly silver production at the Cusi Mine in Mexico, despite being in care and maintenance for part of the quarter

The Company achieved record quarterly consolidated equivalent copper production and ore throughput, driven by strong operational performance at its three mines despite the difficulties arising from the COVID-19 pandemic.

Luis Marchese, CEO of Sierra Metals commented: “I am very pleased to report that the Company continues to strengthen its performance in 2020 with the achievement of production records on a Company consolidated basis and at the Bolivar Mine for quarterly equivalent metal production as well as for ore throughput. At Yauricocha, we continue to process throughput at increased levels which has helped us to recover some of the lower production experienced during the Q2 COVID-19 shutdowns. At Cusi we recommenced production in late July and operated for 65 days during the third quarter with ore throughput reaching over 1,000 tonnes per day during that period.”

He continued, “The COVID-19 situation in Mexico and Peru is still very serious and remains an important factor in our daily operations at the mines. We are continuing to adhere to strict health protocols to protect our employees, the communities in which we operate and our operations. Testing and quarantining has helped us to identify and keep active cases from the mines but as a result we are operating with a lower head count than optimal. I would like to thank our employees for the hard work in holding safe, helping the mines to run efficiently, and helping to maintain the strong production levels as noted in the third quarter results.”

He concluded, “As we continue to ramp up operations, we have been able to reinitiate on the backlog of exploration and infrastructure projects at the mines. This will help us to improve mine operations and operating efficiencies while continuing to discover and develop mineral resources. We are also proceeding with expansion studies at all mines based on the current large mineral resource levels and probable future discoveries of additional mineral resources at all mines. Precluding any further COVID-19 work interruptions the fourth quarter should continue advancing production throughput to capacity levels and help us to realize a strong finish for the year.”

Consolidated Production Results

(1) Silver equivalent ounces and copper and zinc equivalent pounds for Q3 2020 were calculated using the following realized prices: $24.89/oz Ag, $2.97/lb Cu, $1.08/lb Zn, $0.85/lb Pb, $1,916/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for Q3 2019 were calculated using the following realized prices: $17.28/oz Ag, $2.63/lb Cu, $1.06/lb Zn, $0.94/lb Pb, $1,481/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for 9M 2020 were calculated using the following realized prices: $19.35/oz Ag, $2.63/lb Cu, $0.97/lb Zn, $0.80/lb Pb, $1,742/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for 9M 2019 were calculated using the following realized prices: $15.91/oz Ag, $2.74/lb Cu, $/1.16lb Zn, $0.91/lb Pb, $1,370/oz Au.

Yauricocha Mine, Peru

The Yauricocha Mine processed 318,155 tonnes during Q3 2020, representing a 4% increase compared to Q3 2019. Daily ore throughput averaged 3,636 tpd during the quarter, as the mine continued its efforts to recover some of its annual production lost due to the COVID-19 related shutdown in Peru.

Grades for all metals, except zinc, declined for the quarter due to lower proportion of ore coming from the high-grade cuerpos chicos, as compared to Q3 2019. Zinc grades were higher during Q3 2020 due to mining in the Cachi Cachi zone. Recoveries were negatively impacted by the lower head grades as well as to the slightly reduced residence capacity in the flotation, resulting from the higher throughput. With the commissioning of the new DR-180 cells and related automated controls of the flotation process, the Company anticipates improvement in recoveries when the new cells are commissioned.

A summary of production from the Yauricocha Mine for Q3 2020 is provided below:

(1) Silver equivalent ounces and copper and zinc equivalent pounds for Q3 2020 were calculated using the following realized prices: $24.89/oz Ag, $2.97/lb Cu, $1.08/lb Zn, $0.85/lb Pb, $1,916/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for Q3 2019 were calculated using the following realized prices: $17.28/oz Ag, $2.63/lb Cu, $1.06/lb Zn, $0.94/lb Pb, $1,481/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for 9M 2020 were calculated using the following realized prices: $19.35/oz Ag, $2.63/lb Cu, $0.97/lb Zn, $0.80/lb Pb, $1,742/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for 9M 2019 were calculated using the following realized prices: $15.91/oz Ag, $2.74/lb Cu, $/1.16lb Zn, $0.91/lb Pb, $1,370/oz Au.

Bolivar Mine, Mexico

The Bolivar Mine processed a quarterly record of 410,468 tonnes in Q3 2020, representing a 24% increase over Q3 2019. The average daily ore throughput realized during the quarter was approximately 4,691 tpd, and the Company remains on track to reach the targeted 5,000 tpd during Q4 2020. The 24% increase in throughput, higher gold head grades, and higher recoveries partially offset by lower silver grades resulted in a 37% increase in copper equivalent pounds produced during Q3 2020 compared to Q3 2019. In Q3 2020, copper production increased by 32% to 6,734,000 pounds, silver production increased 15% to 199,000 ounces, and gold production increased 32% to 2,740 ounces compared to Q3 2019.

Development and infrastructure improvements continue in the effort to achieve ore throughput at Bolivar of 5,000 TPD during Q4 2020. Increased throughput and the use of massive mining methods have increased dilution at the stopes, reducing head grade to the plant. Target mining areas will be the El Gallo Mine and Bolivar W. Infill drilling will continue on the Bolivar West and Gallo Inferior areas, while mine development will focus on the Gallo Inferior and Bolivar W zones, with priority towards deepening of the ramps. This work will allow the Company to increase the number of minable stopes available in order to increase ore throughput at the plant.

A summary of production for the Bolivar Mine for Q3 2020 is provided below:

(1) Silver equivalent ounces and copper and zinc equivalent pounds for Q3 2020 were calculated using the following realized prices: $24.89/oz Ag, $2.97/lb Cu, $1.08/lb Zn, $0.85/lb Pb, $1,916/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for Q3 2019 were calculated using the following realized prices: $17.28/oz Ag, $2.63/lb Cu, $1.06/lb Zn, $0.94/lb Pb, $1,481/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for 9M 2020 were calculated using the following realized prices: $19.35/oz Ag, $2.63/lb Cu, $0.97/lb Zn, $0.80/lb Pb, $1,742/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for 9M 2019 were calculated using the following realized prices: $15.91/oz Ag, $2.74/lb Cu, $/1.16lb Zn, $0.91/lb Pb, $1,370/oz Au.

Cusi Mine, Mexico

The Cusi mine produced a record 304,000 ounces of silver during the quarter, despite being in care and maintenance for part of the quarter. The mine resumed operations on July 28, 2020 and operated for 65 days during the quarter. Ore throughput reached approximately 1,074 tpd during Q3 2020, which was 34% higher than throughput rate achieved in Q3 2019. The mine continues to work towards reaching full capacity during Q4 2020. Total quarterly throughput was 69,835 tonnes which was 1% below the Q3 2019 throughput due to lower number of operating days in Q3 2020. Higher silver and gold grades, and higher gold recoveries were partially offset by 5% lower silver recoveries during Q3 2020 resulting in a 12% increase in silver equivalent ounces produced, despite slightly lower throughput.

Mine development and production were also focused on the Northeast Southwest vein system, as exploration results indicated higher grades (please refer to press release dated June 18, 2020 – Sierra Metals confirms new high-grade silver zone at its Cusi Mine). Ore processed from the NE SW vein system negatively impacted recoveries as the presence of pyrite reduced the flotation capacity at the plant. The Company is conducting metallurgical research to be able to adapt the process to this condition.

Silver production of 304,000 ounces increased 12%, gold production of 173 ounces increased 28%, and lead production of 305,000 pounds increased 82% in Q3 2020 compared to Q3 2019.

A summary of production for the Cusi Mine for Q3 2020 is provided below:

(1) Silver equivalent ounces and copper and zinc equivalent pounds for Q3 2020 were calculated using the following realized prices: $24.89/oz Ag, $2.97/lb Cu, $1.08/lb Zn, $0.85/lb Pb, $1,916/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for Q3 2019 were calculated using the following realized prices: $17.28/oz Ag, $2.63/lb Cu, $1.06/lb Zn, $0.94/lb Pb, $1,481/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for 9M 2020 were calculated using the following realized prices: $19.35/oz Ag, $2.63/lb Cu, $0.97/lb Zn, $0.80/lb Pb, $1,742/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds for 9M 2019 were calculated using the following realized prices: $15.91/oz Ag, $2.74/lb Cu, $/1.16lb Zn, $0.91/lb Pb, $1,370/oz Au.

Expansion Studies

The Company is undertaking Expansion studies to determine the best growth options for its operations in Mexico and Peru.

Quality Control

All technical data contained in this news release has been reviewed and approved by Americo Zuzunaga, FAusIMM CP (Mining Engineer) and Vice President of Corporate Planning is a Qualified Person and chartered professional qualifying as a Competent Person under the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves.

Augusto Chung, FAusIMM CP (Metallurgist) and Vice President of Metallurgy and Projects to Sierra Metals is a Qualified Person and chartered professional qualifying as a Competent Person on metallurgical processes.

About Sierra Metals

Sierra Metals Inc. is a diversified Canadian mining company focused on the production and development of precious and base metals from its polymetallic Yauricocha Mine in Peru, and Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three Mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.

The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.

For further information regarding Sierra Metals, please visit www.sierrametals.com or contact:

Mike McAllister
Vice President, Investor Relations
Sierra Metals Inc.
Tel: +1 (416) 366-7777
Email: [email protected]

Luis Marchese
CEO

Sierra Metals Inc.
Tel: +1 (416) 366-7777

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Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc

Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws (collectively, “forward-looking information“). Forward-looking information includes, but is not limited to, statements with respect to the date of the 2020 Shareholders’ Meeting and the anticipated filing of the Compensation Disclosure. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.

Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading “Risk Factors” in the Company’s annual information form dated March 30, 2020 for its fiscal year ended December 31, 2019 and other risks identified in the Company’s filings with Canadian securities regulators and the United States Securities and Exchange Commission, which filings are available atwww.sedar.com and www.sec.gov, respectively.

The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company’s forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.

Source: Sierra Metals Inc.

Newrange Drills 14.85 g/t Gold Over 9.15 Meters at Pamlico, Including 34.11 g/t Au Over 3.05 Meters

 

VANCOUVER, BRITISH COLUMBIA, October 13, 2020 (TSXV: NRG, US: NRGOF, Frankfurt: X6C) – Newrange Gold Corp. (“Newrange” or the “Company”) is pleased to announce that hole P20-82 in the Merritt Zone of the Pamlico Project intersected near surface oxide gold mineralization averaging 14.85 grams gold per metric tonne (g/t Au) and 3.57 grams silver per metric tonne (g/t Ag) over the 9.15 meter interval from 53.35 to 62.50 meters. This mineralized zone contained a high-grade core returning 34.11 g/t Au and 7.64 g/t Ag and lies within a larger 32.01 meter interval assaying 4.74 g/t Au and 2.25 g/t Ag from 44.21 to 76.22 meters.

Hole P20-82 also intersected a shallower zone of mineralization averaging 1.10 g/t Au and 3.67 g/t Ag over the 9.15 meter interval from 22.86 to 32.01 meters. A second hole, P20-83, expanded this oxide gold mineralization to the southeast with an intercept from 4.57 to 10.67 meters averaging 0.484 g/t Au and 4.57 g/t Ag. Hole P20-82, in particular, expands the footprint of high-grade mineralization by filling in an important gap between adjacent holes P17-03, 18 and 32. The table below summarizes these drill results and a map of hole locations can be found here.

These mineralized intercepts are thoroughly oxidized and focused in and near contact zones between the rhyolite and latite volcanic rocks that have been intensely sheared and brecciated due to the competency contrast of these two rock types.

The Company is expanding the drill pattern in this and other areas of the property including step outs on hole P17-10, the highest grade hole in the Company’s 2017 program that contained multiple high-grade intercepts including 6.1 meters averaging 97.94 g/t Au as announced June 19, 2017. Road construction will commence shortly to drill test the upper Good Hope Mine at a similar rhyolite / latite contact zone where underground channel sampling has identified consistent high grade results including 40 meters averaging 13.89 g/t Au and 71.19 g/t Ag in the 5690 level of the mine as announced May 14, 2020. The Company is also conducting follow-up drilling of hole P20-65 that returned 4.6 meters of 0.535 gram gold from surface with additional highly anomalous gold mineralization at depth in Gold Box Canyon as discussed in the Company’s press release of September 20, 2020. Similar rhyolite / latite contact zones are exposed throughout the canyon and have been heavily prospected by artisanal miners in the past with production evident in three separate series of mine workings.

Quality Assurance/Quality Control

Mr. Robert G. Carrington, P. Geo, a Qualified Person as defined by National Instrument 43-101, the President and Chairman of the Company, has reviewed, verified and approved for disclosure the technical information contained in this news release. All drilling was conducted by Reverse Circulation (RC) methods using a five-inch diameter center return bit. All drilling was supervised by professional geologists. Samples were collected on 1.5 meter (5 foot) intervals. Drill cuttings were captured in a vacuum augmented, closed system cyclone, then riffle split in a three-tiered Jones-type splitter. Samples were then securely stored and delivered to Paragon Geochemical Laboratories in Sparks, Nevada for sample preparation and analysis. Samples were dried then stage crushed to 80% passing 10 mesh. A 300 gram sub-sample was then split out and pulverized to 90% passing 140 mesh from which 1 Assay Ton, approximately 30 gram samples were split for analysis by fire assay (FA) with an OES finish. Samples assaying in excess of 5 g/t Au were re-assayed by fire assay with a gravimetric finish. Silver was determined by fire assay with an atomic absorption finish. In addition to the QA – QC conducted by the laboratory, the Company inserts blanks, standards and certified reference material (CRM) at a rate of not less than 1 in 20. Duplicate samples are collected for all drill samples and are submitted at a rate of 1 in 40.

About Pamlico

Located 12 miles southeast of Hawthorne, Nevada, along US Highway 95, the project enjoys excellent access and infrastructure, a mild, year-round operating climate and strong political support from Mineral County, one of the most pro-mining counties in the pro-mining state of Nevada. The Pamlico project covers the historic Pamlico group of mines, as well as the nearby Good Hope, Gold Bar and Sunset mines.

Discovered in 1884, the district rapidly gained a reputation as being one of Nevada’s highest-grade districts. Held by private interests for most of its history, the property remains underexplored in terms of modern exploration.

About Newrange Gold Corp.

Newrange is a precious metals exploration and development company focused on near to intermediate term production opportunities in favorable jurisdictions including Nevada, Ontario and Colorado. With numerous drill intercepts of near surface oxide gold mineralization to 340 grams gold per metric tonne, the Company’s flagship Pamlico Project is poised to become a significant new Nevada discovery. Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Further information can be found on our website at www.newrangegold.com.

Signed: “Robert Archer” CEO & Director

For further information contact:
Sharon Fleming
Corporate Communications
Phone: 760-898-9129
Email: [email protected]

Dave Cross
Chief Financial Officer and Corporate Secretary
Phone: 604-669-0868
Email: [email protected]

Website: www.newrangegold.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement: Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Newrange Gold Corp. Actual results may differ materially from those currently anticipated in such statements.

U.S. Gold Corp. Issues October 2020 Shareholder Letter

 

ELKO, Nev., Oct. 13, 2020 /PRNewswire/ — U.S. Gold Corp. (NASDAQ: USAU) (the “Company”), a gold exploration and development company, today announced that it has issued a letter to its shareholders outlining the Company’s recent and expected milestones, as it continues to advance its assets and projects.

Recent Company highlights include:

• Acquisition of Northern Panther Resource Corporation, which provided USAU with the Challis Gold Project in Idaho, additional capital and some key industry shareholders
• Strengthening of the management team with the appointments of George Bee as President and Eric Alexander as CFO
• Commencement of the CK Gold Project Pre-Feasibility Study

“This year has been anything but normal with the ongoing upheavals caused by the COVID-19 pandemic, but I’m proud that U.S. Gold Corp. has continued to push forward and advance our portfolio like the CK Gold Project and grow our business with the acquisition of Northern Panther,” stated Edward Karr, CEO of U.S. Gold Corp. “With the consistent strength of the gold market through turbulent times, I’m excited for what the coming months and years hold for our Company, and look forward to speaking with shareholders further at our annual general meeting in November.”

A copy of the letter is available on our website at: www.usgoldcorp.gold/Oct2020-SH-Letter

About U.S. Gold Corp.

U.S. Gold Corp. is a publicly traded, U.S. focused gold exploration and development company. U.S. Gold Corp. has a portfolio of exploration properties. Copper King, now the CK Gold Project, is located in Southeast Wyoming and has a Preliminary Economic Assessment (PEA) technical report, which was completed by Mine Development Associates. Keystone and Maggie Creek are exploration properties on the Cortez and Carlin Trends in Nevada. The Challis Gold Project is located in Idaho. For more information about U.S. Gold Corp., please visit www.usgoldcorp.gold

Safe Harbor

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimated,” and “intend,” among others. These forward-looking statements are based on U.S. Gold Corp.’s current expectations, and actual results could differ materially from such statements. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks arising from: the prevailing market conditions for metal prices and mining industry cost inputs, environmental and regulatory risks, risks faced by junior companies generally engaged in exploration activities, whether U.S. Gold Corp. will be able to raise sufficient capital to implement future exploration programs, COVID-19 uncertainties, and other factors described in the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the Securities and Exchange Commission, which can be reviewed at www.sec.gov. The Company has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory, and other risks, contingencies, and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control. The Company makes no representation or warranty that the information contained herein is complete and accurate and we have no duty to correct or update any information contained herein.

For additional information, please contact:

U.S. Gold Corp. Investor Relations: +1 800 557 4550
[email protected]
www.usgoldcorp.gold

SOURCE U.S. Gold Corp.