Release – Aurania Reports that Drilling at Tsenken N1 Provides Evidence of a Link with the Tiria-Shimpia Target


Aurania Reports that Drilling at Tsenken N1 Provides Evidence of a Link with the Tiria-Shimpia Target

 

Toronto, Ontario, July 21, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) reports that review of drill core shows that the fault system which links the Tsenken target with the Tiria-Shimpia target, moved periodically throughout the development of the sedimentary basin, providing a pumping mechanism for metal-bearing fluids that deposited sediment-hosted zinc-silver at Tiria-Shimpia and copper-silver at Tsenken.  Further scout drilling at Tsenken N1 is focusing on sediment-hosted copper-silver adjacent to this fault system that extends 45 kilometres from the copper area in the south to the zinc zone in the north in the central part of the Company’s Lost Cities – Cutucu Project (“Project”) in southeastern Ecuador.

Professor Gregor Borg, an expert on sediment-hosted copper systems, who has worked both in the Central African Copperbelt and the European Kupferschiefer, recently visited site to review the exploration programs and drill core from Tsenken and Tiria-Shimpia.

Professor Borg commented, “I have not seen many mineralized systems that extend 45 kilometres along a fault system as we see in the central part of Aurania’s Lost Cities Project.  The change from copper-centric in the Tsenken area to zinc-rich in the Tiria-Shimpia target is consistent metal zoning that is evident in the Kupferschiefer.  I came away from my second review of Aurania’s sedimentary copper exploration program as convinced as I was on my first visit that the red-bed basin is highly fertile and has very good potential for sediment-hosted copper. We optimized some of the concepts on the basis of the features that we saw in the drill core, and I have encouraged the exploration team to keep drilling.”

Five drill holes have been completed at Tsenken N1 and hole 6 is underway – the objective being to explore the same sedimentary layer in the Tsenken area that contains zinc-silver in the Tiria-Shimpia area as illustrated in Figure 1.

Figure 1.  Vertical profile illustrating the target concept for the current drill hole, TSN1-006.  The target is copper in the same sedimentary unit in the Tsenken area as contains zinc-silver in the Tiria-Shimpia area.  This target is brought to relatively shallow depth on a geological fault as illustrated in Figure 2.

Geological Detail of Tsenken N1 Drilling

Five drill holes, for a total of 2,184 metres (“m”), have been drilled in the Tsenken N1 target area and hole 6 is underway.  The sedimentary layers targeted in hole 6 have been elevated to within a few hundred metres of surface, as illustrated in Figure 2, by faults that are known to have provided pathways for the metal-bearing fluids.

Drill results received to date are not economically significant but do show a clear trend with contained copper increasing towards the east: drill hole TSN1-002 – the westernmost – having no copper, hole TSN1-001 having 0.23% over 1m and hole TSN1-003 – the easternmost – having two mineralized zones; the upper sedimentary layer with 1m at 0.47% copper and the lower with 0.15% copper over 2.6m.  Observations from the drill core show that the fault system was active at the time of accumulation of the red-beds in the Tsenken area and field mapping and satellite imagery show that this fault system extends into the Tiria-Shimpia area where it is linked with zinc-silver mineralization.

Holes TSN1-004 and TSN1-005 were collared further north, closer to Tiria-Shimpia and results will be reported when available.

Figure 2.  Vertical profile interpretation through the Tsenken N1 area showing the location of drill holes 1, 2 and 3 that tested for sediment-hosted copper-silver in red-beds beneath a lava seal.  Hole 6 is testing for expected sediment-hosted copper in a similar position in the sedimentary layering as the silver-zinc mineralization at Tiria-Shimpia is located.  The fault system shown in red is suspected to have fed copper into the sediments in a similar way that it did zinc-silver into the Tiria-Shimpia area.  (Evap. is evaporite (salt) and Int. is intrusive such as a porphyry).

Drilling at Tiria-Shimpia

A second drill rig has completed the first hole at Tiria-Shimpia and the second scout drilling hole is underway.

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.

Aurania Reports that Drilling at Tsenken N1 Provides Evidence of a Link with the Tiria-Shimpia Target


Aurania Reports that Drilling at Tsenken N1 Provides Evidence of a Link with the Tiria-Shimpia Target

 

Toronto, Ontario, July 21, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) reports that review of drill core shows that the fault system which links the Tsenken target with the Tiria-Shimpia target, moved periodically throughout the development of the sedimentary basin, providing a pumping mechanism for metal-bearing fluids that deposited sediment-hosted zinc-silver at Tiria-Shimpia and copper-silver at Tsenken.  Further scout drilling at Tsenken N1 is focusing on sediment-hosted copper-silver adjacent to this fault system that extends 45 kilometres from the copper area in the south to the zinc zone in the north in the central part of the Company’s Lost Cities – Cutucu Project (“Project”) in southeastern Ecuador.

Professor Gregor Borg, an expert on sediment-hosted copper systems, who has worked both in the Central African Copperbelt and the European Kupferschiefer, recently visited site to review the exploration programs and drill core from Tsenken and Tiria-Shimpia.

Professor Borg commented, “I have not seen many mineralized systems that extend 45 kilometres along a fault system as we see in the central part of Aurania’s Lost Cities Project.  The change from copper-centric in the Tsenken area to zinc-rich in the Tiria-Shimpia target is consistent metal zoning that is evident in the Kupferschiefer.  I came away from my second review of Aurania’s sedimentary copper exploration program as convinced as I was on my first visit that the red-bed basin is highly fertile and has very good potential for sediment-hosted copper. We optimized some of the concepts on the basis of the features that we saw in the drill core, and I have encouraged the exploration team to keep drilling.”

Five drill holes have been completed at Tsenken N1 and hole 6 is underway – the objective being to explore the same sedimentary layer in the Tsenken area that contains zinc-silver in the Tiria-Shimpia area as illustrated in Figure 1.

Figure 1.  Vertical profile illustrating the target concept for the current drill hole, TSN1-006.  The target is copper in the same sedimentary unit in the Tsenken area as contains zinc-silver in the Tiria-Shimpia area.  This target is brought to relatively shallow depth on a geological fault as illustrated in Figure 2.

Geological Detail of Tsenken N1 Drilling

Five drill holes, for a total of 2,184 metres (“m”), have been drilled in the Tsenken N1 target area and hole 6 is underway.  The sedimentary layers targeted in hole 6 have been elevated to within a few hundred metres of surface, as illustrated in Figure 2, by faults that are known to have provided pathways for the metal-bearing fluids.

Drill results received to date are not economically significant but do show a clear trend with contained copper increasing towards the east: drill hole TSN1-002 – the westernmost – having no copper, hole TSN1-001 having 0.23% over 1m and hole TSN1-003 – the easternmost – having two mineralized zones; the upper sedimentary layer with 1m at 0.47% copper and the lower with 0.15% copper over 2.6m.  Observations from the drill core show that the fault system was active at the time of accumulation of the red-beds in the Tsenken area and field mapping and satellite imagery show that this fault system extends into the Tiria-Shimpia area where it is linked with zinc-silver mineralization.

Holes TSN1-004 and TSN1-005 were collared further north, closer to Tiria-Shimpia and results will be reported when available.

Figure 2.  Vertical profile interpretation through the Tsenken N1 area showing the location of drill holes 1, 2 and 3 that tested for sediment-hosted copper-silver in red-beds beneath a lava seal.  Hole 6 is testing for expected sediment-hosted copper in a similar position in the sedimentary layering as the silver-zinc mineralization at Tiria-Shimpia is located.  The fault system shown in red is suspected to have fed copper into the sediments in a similar way that it did zinc-silver into the Tiria-Shimpia area.  (Evap. is evaporite (salt) and Int. is intrusive such as a porphyry).

Drilling at Tiria-Shimpia

A second drill rig has completed the first hole at Tiria-Shimpia and the second scout drilling hole is underway.

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.

Comstock’s Linico To Recycle 100,000 Tons Of Lithium-Ion Batteries Per Year


Comstock’s Linico To Recycle 100,000 Tons Of Lithium-Ion Batteries Per Year

 

Breakthrough Lithium-Ion Battery Recycling Technologies Enable Extraordinary Increase in Throughput

Virginia City, NV (July 21, 2021) – Comstock Mining Inc. (the “Company”) (NYSE American: LODE) today announced the filing of a Written Determination of Hazardous Waste Recycling (“Application”) by LINICO Corporation (“LiNiCo”), and its lithium-ion battery (“LIB”) recycling facility located in the Tahoe Reno Industrial (“TRI”) Center in Storey County, Nevada (“TRI Facility”).

The Application and LiNiCo’s final engineering plans are based on the first phase of LiNiCo’s proprietary LIB recycling technologies, which have been designed for extraordinary capacity and yield at a fraction of the capital and operating costs of all known methods. Those technologies are the direct result of Comstock’s recently announced and planned additional technology development, engineering, and materials science acquisitions and other transactions, including Renewable Process Solution (“RPS”) and its CEO and Comstock’s new Chief Process Engineer, Rahul Bobbili.

Construction of the first phase of LiNiCo’s new processes will commence at the TRI Facility upon approval of the Application, with an anticipated completion and start-up during the first half of 2022. Once complete, the TRI Facility is conservatively expected to scale up to its initial nameplate capacity exceeding 100,000 tons per year of LIBs over a period of three years, with annualized revenues exceeding $250,000,000, $410,000,000, and $505,000,000 per year during the TRI Facility’s first, second, and third full years of operations, respectively, as shown in the following excerpt from LiNiCo’s internal projections:Extraordinary Growth

Spent LIBs are widely expected to contain more than $12 billion in recoverable strategic metals by 2025 and $26 billion by 2040, as global mobile device use increases to about 18 billion by 2025, and electric vehicle (“EV”) sales increase to about 138 million units by 2030 from 7.6 million in 2020, according to the International Energy Agency. ARK Invest also recently concluded that EV sales will increase to about 40% of global auto sales within five to six years. Tesla (NASDAQ: TSLA) CEO Elon Musk provided a similar estimate, tweeting his view that the industry could produce 30 million EVs per year by 2027. Peter Rawlinson, CEO of Lucid (NYSE: CCIV), said in June 2021 that he believes that there is a growing recognition that EVs represent the future of the auto industry. And General Motors (NYSE: GM) recently announced that it will increase spending on electric and autonomous vehicles to $35 billion through 2025, with a target of selling 1,000,000 EVs annually by 2025.

Meeting the increased demand will require about 1.8 million tons per year of lithium carbonate equivalent (“LCE”), or about five times more than the entire lithium mining industry produces today, and more than fifteen times the total LCE used in producing new EVs in 2020. The mining and battery manufacturing industries can scale up to meet that demand, but there are only about 80 million tons of identified lithium resources worldwide, and EV batteries are typically landfilled after eight to ten years of use.

Selective Separation Technologies

“The first phase of our technologies was all about establishing and maximizing market leading throughput in a safe, compliant, and cost-effective manner, with room for modular capacity expansions as global electrification efforts accelerate and the LIB recycling industry inevitably grows,” said LiNiCo’s Chief Executive Officer and Founder, Michael Vogel. “However, in addition to our previously announced Green Li-ion 99.9% pure cathode production technologies, we are also perfecting a series of additional technologies involving remarkable and new approaches to selectively separating strategic commodities from LIBs, starting with high purity LCE products. We designed the TRI Facility layout with those future upgrades and technologies in mind.”

Comstock’s Executive Chairman and Chief Executive Officer, Corrado De Gasperis, added, “We see spent LIBs as a potent form of industrial ore, and – as with any ore, we need the right team, technology, and infrastructure to mine it. Comstock and LiNiCo are rapidly assembling all three, as demonstrated by the extraordinary five-fold leap in the initial throughput of LiNiCo’s first facility, representing the proverbial tip of our rapidly developing and expanding technology spear.”

Addressing Scarcity with Innovation

Comstock believes that the global clean energy transition, escalating population growth, and accelerating natural resource scarcity are converging into a “perfect storm” of global demand in a broad array of strategic materials, including anything involving carbon, metals, energy, and water – without the corresponding global capacity to sustainably meet even a fraction of the demand. Comstock’s strategic focus has consequently shifted to include the development of companies and technologies that facilitate the more efficient use of natural resources by extracting and valorizing critical and inevitably scarce feedstocks.

De Gasperis concluded, “The consumption of any product is powered by feedstock, and as vast as some feedstock supplies may seem, they are all finite. The world is watching that story unfold in electrification products, with a current focus on the scarcity of lithium and other cathode constituents, and a shared goal of reducing global carbon emissions. However, every cathode in every LIB needs an anode, and the vast majority of anodes are comprised of synthetic graphite, the global supplies of which are nearly all met with carbon intensive fossil fuel derivatives. We see that to be counterproductive, and its exactly the sort of inevitable need that we intend to address with innovation. We believe that we’re well positioned ahead of that curve with LiNiCo’s TRI Facility and our technology development efforts.”

About Comstock Mining Inc.

Comstock Mining Inc. (NYSE: LODE) is an emerging innovator and leader in the sustainable extraction, valorization, and production of scarce natural resources, with a focus on high value strategic materials that are essential to meeting the rapidly increasing global demand for clean energy, carbon-neutrality, and natural products. To learn more, please visit www.comstockmining.com.

Comstock was selected to join the Russell Microcap® Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the US market opened on June 4, 2021. Membership in the Russell Microcap® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

Forward-Looking Statements

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: consummation of all pending transactions; project, asset or Company valuations; future industry market conditions; future explorations, acquisitions, investments and asset sales; future performance of and closings under various agreements; future changes in our exploration activities; future estimated mineral resources; future prices and sales of, and demand for, our products; future impacts of land entitlements and uses; future permitting activities and needs therefor; future production capacity and operations; future operating and overhead costs; future capital expenditures and their impact on us; future impacts of operational and management changes (including changes in the board of directors); future changes in business strategies, planning and tactics and impacts of recent or future changes; future employment and contributions of personnel, including consultants; future land sales, investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives; the nature and timing of and accounting for restructuring charges and derivative liabilities and the impact thereof; contingencies; future environmental compliance and changes in the regulatory environment; future offerings of equity or debt securities; asset sales and associated costs; future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, earnings and growth. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: counterparty risks; capital markets’ valuation and pricing risks; adverse effects of climate changes or natural disasters; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mining activities; contests over title to properties; potential dilution to our stockholders from our stock issuances and recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting businesses; permitting constraints or delays; decisions regarding business opportunities that may be presented to, or pursued by, us or others; the impact of, or the non-performance by parties under agreements relating to, acquisitions, joint ventures, strategic alliances, business combinations, asset sales, leases, options and investments to which we may be party; changes in the United States or other monetary or fiscal policies or regulations; interruptions in production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, cyanide, water, diesel fuel and electricity); changes in generally accepted accounting principles; adverse effects of terrorism and geopolitical events; potential inability to implement business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors or others; assertion of claims, lawsuits and proceedings; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the SEC; potential inability to list our securities on any securities exchange or market; inability to maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund or any other issuer.

 

Contact Information:

Comstock Mining Inc.
P.O. Box 1118
Virginia City, NV 89440
ComstockMining.com
Corrado De Gasperis
Executive Chairman & CEO
Tel (775) 847-4755
degasperis@comstockmining.com
Zach Spencer
Director of External Relations
Tel (775) 847-5272 Ext.151
questions@comstockmining.com

 

Sierra Metals Reports Second Quarter 2021 Production Results Including Record Throughput at Its Yauricocha Mine in Peru


Sierra Metals Reports Second Quarter 2021 Production Results Including Record Throughput at Its Yauricocha Mine in Peru

 

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX:SMT) (BVL:SMT) (NYSE AMERICAN:SMTS) (“Sierra Metals” or “the Company”) is reporting second-quarter 2021 production results, as the Company continues to deal with the effect of the COVID-19 pandemic at its operations.

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.

Second Quarter 2021 Production Highlights

  • Copper production
    of 9.5 million pounds; a 2% decrease from Q2 2020
  • Silver production
    of 1.0 million ounces; a 67% increase from Q2 2020
  • Gold production of
    2,812 ounces; a 2% increase from Q2 2020
  • Zinc production of
    21.1 million pounds; a 54% increase from Q2 2020
  • Lead production of
    8.0 million pounds; a 24% increase from Q2 2020
  • Copper equivalent
    production of 24.8 million pounds; a 9% increase from Q2 2020

The Company achieved 62% and 25% increase in throughput as compared to Q2 2020, at its Yauricocha and Bolivar mines respectively. The Yauricocha mine achieved 328,909 tonnes during the quarter at an average rate of 3,759 tpd. Earlier during the quarter, the Company announced receipt of permit to build and operate an expansion of its capacity to 3,600 tpd plus an allowance for up to an additional 5%.

Consolidated copper production decreased 2% to 9.5 million pounds, silver increased 67% to 1.0 million ounces, zinc increased 54% to 21.1 million pounds, lead increased 24% to 8.0 million pounds, and gold increased 2% to 2,812 ounces compared to Q2 2020.

Luis Marchese, President, and CEO of Sierra Metals commented: “Despite the
challenges we have faced due to the Covid-19 Pandemic, I am pleased with the
relatively solid production performance in Q2 2021. The Company continues to
face operational difficulties related to COVID-19 at all mines but particularly
in Peru. We expect that we will continue to be impacted for the remainder of
the year and as such we are reviewing our production guidance and may revise it
as part of our Q2-2021 consolidated financial results.”

He continued
, “Looking ahead to the second half of 2021, we anticipate seeing
an improvement in production results over the first half of the year as we
continue to manage the implications of COVID-19 using best practices. Our goal continues
to be avoiding any mine closures while ensuring that strict protocols remain in
place to protect the wellbeing of our employees as well as the local
communities. Additionally, we have commenced implementation on a 500,000 tonne
per year magnetite concentrate plant at Bolivar which is expected to be
operational early next year. We also received the final permit required for the
construction and operation of the expansion of throughput at Yauricocha to
3,600 tonnes per day. We continue to work on the completion of Preliminary
Feasibility Studies for all three mines to support planned expansions at all
mines starting in 2024. Brownfield and greenfield exploration programs
continue, and we continue to strive to optimize and improve operations with an
aim of reducing costs where possible in this challenging environment.”

Consolidated Production Results

Consolidated Production

Three
Months Ended June 30

Six Months
Ended June 30

2021

2020

% Var.

2021

2020

% Var.

 

Tonnes processed

787,534

511,485

54%

1,561,955

1,252,183

25%

Daily throughput

9,000

5,846

54%

8,925

7,155

25%

 

 

Silver production (000 oz)

954

572

67%

1,915

1,520

26%

Copper production (000 lb)

9,535

9,708

-2%

17,430

21,484

-19%

Lead production (000 lb)

7,960

6,406

24%

16,964

15,485

10%

Zinc production (000 lb)

21,133

13,741

54%

45,256

35,387

28%

Gold Production (oz)

2,812

2,762

2%

5,448

6,419

-15%

 

 

Silver equivalent ounces
(000’s)(1)

4,043

3,297

23%

7,778

8,028

-3%

Copper equivalent pounds
(000’s)(1)

24,786

22,743

9%

50,157

54,016

-7%

Zinc equivalent pounds (000’s)(1)

81,114

61,353

32%

160,750

146,032

10%

 

(1) Silver equivalent ounces and copper and zinc equivalent pounds
for Q2 2021 were calculated using the following realized prices: $26.80/oz Ag,
$4.37/lb Cu, $1.34/lb Zn, $0.97/lb Pb, $1,818/oz Au. Silver equivalent ounces
and copper and zinc equivalent pounds for Q2 2020 were calculated using the
following realized prices: $16.59/oz Ag, $2.40/lb Cu, $0.89/lb Zn, $0.76/lb Pb,
$1,722/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds
for 6M 2021 were calculated using the following realized prices: $26.62/oz Ag,
$4.13/lb Cu, $1.29/lb Zn, $0.94/lb Pb, $1,798/oz Au. Silver equivalent ounces
and copper and zinc equivalent pounds for 6M 2020 were calculated using the
following realized prices: $16.58/oz Ag, $2.46/lb Cu, $0.91/lb Zn, $0.78/lb Pb,
$1,654/oz Au.

Yauricocha Mine, Peru

The Yauricocha Mine demonstrated its operational flexibility by processing a record 328,909 tonnes during Q2 2021, which is a 62% increase from Q2 2020. On June 16, 2021, the Company announced receipt of a permit from the Peruvian Ministry of Energy and Mines, which allows for the construction and operation at a capacity of 3,600 tpd.

The higher throughput was partially offset by lower head grades for all metals, resulting in a 7% higher copper equivalent production as compared to Q2 2020. In terms of zinc equivalents, this was a 29% increase over the same quarter of 2020. Copper production for the quarter was 11% lower, while silver, lead, zinc and gold production increased by 35%, 22%, 54% and 23% respectively as compared to Q2 2020. Due to COVID-19 operating restrictions the focus has been on larger but lowered grade ore bodies to meet tonnages with a reduced work force.

A summary of production from the Yauricocha Mine for Q2 2021 is provided below:

Yauricocha Production

Three
Months Ended June 30

Six Months
Ended June 30

2021

2020

% Var.

2021

2020

% Var.

 

Tonnes processed

328,909

202,534

62%

655,120

487,759

34%

Daily throughput

3,759

2,315

62%

3,744

2,787

34%

 

 

Silver grade (g/t)

56.94

66.37

-14%

55.65

66.07

-16%

Copper grade

0.70%

1.21%

-42%

0.63%

1.17%

-46%

Lead grade

1.20%

1.63%

-26%

1.27%

1.59%

-20%

Zinc grade

3.27%

3.48%

-6%

3.49%

3.74%

-7%

Gold Grade (g/t)

0.45

0.62

-27%

0.44

0.66

-33%

 

Silver recovery

80.14%

82.82%

-3%

79.70%

82.82%

-4%

Copper recovery

72.67%

77.19%

-6%

69.84%

77.19%

-10%

Lead recovery

90.14%

88.08%

2%

90.15%

88.08%

2%

Zinc recovery

89.23%

88.32%

1%

89.82%

88.32%

2%

Gold Recovery

21.99%

21.18%

4%

20.91%

21.18%

-1%

 

 

Silver production (000 oz)

483

358

35%

934

853

9%

Copper production (000 lb)

3,697

4,164

-11%

6,379

9,548

-33%

Lead production (000 lb)

7,831

6,406

22%

16,537

15,014

10%

Zinc production (000 lb)

21,133

13,741

54%

45,256

35,387

28%

Gold Production (oz)

1,043

850

23%

1,933

2,104

-8%

 

 

Copper equivalent pounds
(000’s)(1)

15,308

14,354

7%

31,142

34,549

-10%

Zinc equivalent pounds (000’s)(1)

49,923

38,723

29%

99,701

93,404

7%

 

(1) Silver equivalent ounces and copper and zinc equivalent pounds
for Q2 2021 were calculated using the following realized prices: $26.80/oz Ag,
$4.37/lb Cu, $1.34/lb Zn, $0.97/lb Pb, $1,818/oz Au. Silver equivalent ounces
and copper and zinc equivalent pounds for Q2 2020 were calculated using the
following realized prices: $16.59/oz Ag, $2.40/lb Cu, $0.89/lb Zn, $0.76/lb Pb,
$1,722/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds
for 6M 2021 were calculated using the following realized prices: $26.62/oz Ag,
$4.13/lb Cu, $1.29/lb Zn, $0.94/lb Pb, $1,798/oz Au. Silver equivalent ounces
and copper and zinc equivalent pounds for 6M 2020 were calculated using the
following realized prices: $16.58/oz Ag, $2.46/lb Cu, $0.91/lb Zn, $0.78/lb Pb,
$1,654/oz Au.

Bolivar Mine, Mexico

The Bolivar Mine processed 385,331 tonnes in Q2 2021, which is a 25% increase from the Q2 2020 throughput. The average daily throughput realized during the quarter was 4,404 tpd. Head grades for copper, silver, and gold were 8%, 27%, and 30% lower, respectively, as compared to Q2 2020. Copper equivalent production for Q2 2021 decreased 8% as compared to Q2 2020, because of lower silver (6%) and gold (15%) production offset by 5% higher copper production. Production continues to be focused more on the Mina de Fierro zone in Q2 2021 as part of our COVID-19 management plan. Mina de Fierro is a larger ore body with greater tonnages; however, the head grades and recoveries are lower than the Bolivar West zone. It is expected that as the Bolivar Mine returns to more normal operations and more ore is taken from the Bolivar West zone that we will see and improvement in head grades and recoveries in the future.

A summary of production for the Bolivar Mine for Q2 2021 is provided below:

Bolivar Production

Three
Months Ended June 30

Six Months
Ended June 30

2021

2020

% Var.

2021

2020

% Var.

 

Tonnes processed (t)

385,331

308,951

25%

756,939

686,513

10%

Daily throughput

4,404

3,531

25%

4,325

3,923

10%

 

 

Copper grade

0.86%

0.93%

-8%

0.82%

0.91%

-10%

Silver grade (g/t)

19.06

26.00

-27%

19.31

23.30

-17%

Gold grade (g/t)

0.21

0.30

-30%

0.20

0.29

-31%

 

Copper recovery

79.89%

87.09%

-8%

82.25%

86.45%

-5%

Silver recovery

85.74%

82.80%

4%

85.13%

82.41%

3%

Gold recovery

63.19%

63.79%

-1%

66.95%

63.84%

5%

 

 

Copper production (000 lb)

5,838

5,544

5%

11,051

11,935

-7%

Silver production (000 oz)

202

214

-6%

399

424

-6%

Gold production (oz)

1,627

1,912

-15%

3,218

4,103

-22%

 

 

Copper equivalent pounds
(000’s)(1)

7,754

8,389

-8%

15,024

17,541

-14%

 

(1) Silver equivalent ounces and copper and zinc equivalent pounds
for Q2 2021 were calculated using the following realized prices: $26.80/oz Ag,
$4.37/lb Cu, $1.34/lb Zn, $0.97/lb Pb, $1,818/oz Au. Silver equivalent ounces
and copper and zinc equivalent pounds for Q2 2020 were calculated using the
following realized prices: $16.59/oz Ag, $2.40/lb Cu, $0.89/lb Zn, $0.76/lb Pb,
$1,722/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds
for 6M 2021 were calculated using the following realized prices: $26.62/oz Ag,
$4.13/lb Cu, $1.29/lb Zn, $0.94/lb Pb, $1,798/oz Au. Silver equivalent ounces
and copper and zinc equivalent pounds for 6M 2020 were calculated using the
following realized prices: $16.58/oz Ag, $2.46/lb Cu, $0.91/lb Zn, $0.78/lb Pb,
$1,654/oz Au.

Cusi Mine, Mexico

The Cusi Mine throughput for Q2 2021 was 73,294 tonnes or 838 tpd. There was no production during the same quarter of 2020, as Cusi remained in care and maintenance throughout that quarter, due to the government-mandated shutdown to contain the advancement of COVID-19. Silver head grade for Q2 2021 was 138.94 g/t resulting in silver production of 269,000 ounces. Additionally, gold production was 142 ounces and lead production was 129,000 pounds respectively during the quarter.

A summary of production for the Cusi Mine for Q2 2021 is provided below:

Cusi Production

Three
Months Ended June 30

Six Months
Ended June 30

2021

2020

% Var.

2021

2020

% Var.

 

Tonnes processed (t)

73,294

N.A.

149,896

77,911

92%

Daily throughput

838

N.A.

857

890

-4%

 

 

 

 

Silver grade (g/t)

138.94

N.A.

148.28

120.88

23%

Gold grade (g/t)

0.16

N.A.

0.16

0.18

-11%

Lead grade

0.10%

N.A.

0.16%

0.33%

-52%

 

 

Silver recovery (flotation)

81.96%

N.A.

81.39%

80.21%

1%

Gold recovery (lixiviation)

37.41%

N.A.

38.51%

46.53%

-17%

Lead recovery

82.95%

N.A.

81.90%

84.17%

-3%

 

 

 

 

Silver production (000 oz)

269

N.A.

582

243

140%

Gold production (oz)

142

N.A.

297

212

40%

Lead production (000 lb)

129

N.A.

427

471

-9%

 

 

 

 

Silver equivalent ounces
(000’s)(1)

283

N.A.

617

286

116%

 

(1) Silver equivalent ounces and copper and zinc equivalent pounds
for Q2 2021 were calculated using the following realized prices: $26.80/oz Ag,
$4.37/lb Cu, $1.34/lb Zn, $0.97/lb Pb, $1,818/oz Au. Silver equivalent ounces
and copper and zinc equivalent pounds for Q2 2020 were calculated using the
following realized prices: $16.59/oz Ag, $2.40/lb Cu, $0.89/lb Zn, $0.76/lb Pb,
$1,722/oz Au. Silver equivalent ounces and copper and zinc equivalent pounds
for 6M 2021 were calculated using the following realized prices: $26.62/oz Ag,
$4.13/lb Cu, $1.29/lb Zn, $0.94/lb Pb, $1,798/oz Au. Silver equivalent ounces
and copper and zinc equivalent pounds for 6M 2020 were calculated using the
following realized prices: $16.58/oz Ag, $2.46/lb Cu, $0.91/lb Zn, $0.78/lb Pb,
$1,654/oz Au.

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.

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.

Continue
to Follow, Like and Watch our progress:

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

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, 2020 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 at www.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.

Mike McAllister
V.P., Investor Relations
Sierra Metals Inc.
+1 (416) 366-7777
info@sierrametals.com

Luis
Marchese

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

Source: Sierra Metals Inc.

Golden Predator Mining (NTGSF)(GPY:CA) – Golden Predator Shareholder Vote On August 25

Wednesday, July 21, 2021

Golden Predator Mining (NTGSF)(GPY:CA)
Golden Predator Shareholder Vote On August 25

Golden Predator Mining Corp is a Canada based exploration stage company engaged in the business of acquiring and exploring mineral properties. It owns properties primarily in Yukon, Canada. Some of the company’s projects located in Yukon are the 3 Aces, Sprogge, Reef, Brewery Creek, Marg, Sonora Gulch, Grew Creek, Upper Hyland and others.

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.

    Shareholder vote is August 25. Golden Predator shareholders of record as of July 16 will vote on Golden Predator’s planned business combination with Arizona Gold Corp. (TSX: AZG, OTCQB: AGAUF) during a special meeting on August 25 at 10:00 a.m. PT. Shareholders will have the option to attend virtually by video conference. Closing is contingent on receiving: 1) approval by two-thirds of the votes cast by Golden Predator shareholders, 2) a simple majority of the votes cast by Arizona Gold Corp. shareholders, and 3) if required, a simple majority of the votes cast by Arizona and Golden Predator shareholders at their respective shareholder meetings, excluding votes by certain persons.

    Terms of the transaction.  Shareholders of Golden Predator will receive 1.65 common shares of Arizona Gold Corp. in exchange for each share of Golden Predator. Upon closing, Arizona Gold is expected to change its name to Sabre Gold Corp. and Golden Predator shareholders will own approximately 45% of the combined company shares …



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. 

Release – Endeavour Silver Signs Agreement To Acquire Bruner Gold Project In Nye County Nevada

 


Endeavour Silver Signs Agreement To Acquire Bruner Gold Project In Nye County, Nevada

 

VANCOUVER, British Columbia, July 19, 2021 (GLOBE NEWSWIRE) — Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) announces it has entered into a definitive agreement (the “Agreement”) with Canamex Gold Corp. to acquire a 100% interest in Canamex’ Bruner Property, a gold exploration, located in Nye County, Nevada approximately 180 kilometres (km) southeast of Reno for US$10 million in cash.

Gold was originally discovered at Bruner in 1906 and the district saw intermittent historic small-scale mining between 1906 and 1998. Recent exploration activities by previous operators included mapping, sampling, geophysical surveys and drilling, culminating in a mineral resource estimate in 2015 and a preliminary economic assessment in 2017 outlining a low capital cost, open pit, heap leach mine operation.

Highlights of the Properties:

  • Acquiring a 100% interest totalling 1,457 hectares on patented and unpatented claims, subject to pre-existing NSR royalties, some of which can be repurchased.

  • Ideally located within Nevada’s Walker Lane northwest trending mineral belt currently hosting several producing mines and recent discoveries.

  • Readily accessible by paved highway and gravel roads only 25 km from the town of Gabbs, Nevada. High voltage power is available approximately 30 km from the project and water rights have been secured.

  • Favourable geology with gold and silver occurring in low-sulphidation epithermal veins and in disseminations within sheeted and stockwork zones. Three gold areas have been outlined within a broad 3 km zone of anomalous gold values.

  • Historic resources of 342,000 ounces of gold contained in 17.5 million tonnes grading 0.61 grams per tonne in three zones, Paymaster, HRA and Penelas, as estimated by Canamex Gold. Endeavour has not verified this historic resource estimate and is not relying on it. See below for historic resource estimate qualifications.

  • Strong potential to discover additional gold and silver mineralization amenable to open pit mining, as shown by surface sampling between Paymaster, HRA and Penelas zones.

  • Excellent metallurgy – cyanide leach test results show that each mineralized zone has gold recoveries > 85% for 0.75” to 3.0” crush size with potential for run-of-mine leaching.

  • Provides diversification with an advanced stage exploration project in Nevada, USA, a world class, stable mining jurisdiction.

Endeavour CEO, Dan Dickson, commented “We are pleased to add an advanced stage precious metals exploration property to our project pipeline. Bruner represents a good start on building an attractive gold-silver portfolio in Nevada and should be an accretive acquisition for our five-year strategic plan to become a premier senior silver producer, with potential for exploration discoveries, district acquisitions, near-term production, and organic growth.

“Our exploration team will focus initially on verifying the historic resources, then turn its attention to the many exploration targets on the Bruner Property. We look forward to unlocking the full potential of the Bruner Property with the goal of building a new mining operation in another historic mining district in Nevada.”

Transaction Summary

Pursuant to the Agreement, Endeavour will pay US$10 million in cash for 100% of the Bruner Gold Project which includes mineral claims, mining rights, property assets, water rights, and government authorizations and permits. Completion of the transactions under the Agreement is subject to customary closing conditions and is subject to Canamex shareholder approval.

The Bruner Gold Project resource estimate was prepared for Canamex Gold in a technical report dated January 22, 2018 titled “NI 43-101 Technical Report on the Bruner Gold Project, Updated Preliminary Economic Assessment, Nye County, Nevada, USA” by Welsh Hagen Associates. The resource estimate was established through surface drilling. A Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource or mineral reserve.

Endeavour is not treating the historical estimate as a current mineral resource or mineral reserve, has not verified the historical resource estimate and is not relying on it. Endeavour plans to “twin” certain drill holes and conduct a drilling program to upgrade the historical estimate as a current mineral resource.

Dale Mah, B.Sc., P.Geo., Endeavour’s Vice President Corporate Development, is the Qualified Person who reviewed and approved this news release.

About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer.  Our philosophy of corporate social integrity creates value for all stakeholders.

SOURCE Endeavour Silver Corp.

SOURCE Endeavour Silver Corp.

Contact Information:
Galina Meleger, Director, Investor Relations
Toll free: (877) 685-9775
Tel: (604) 640-4804
Email: gmeleger@edrsilver.com
Website: www.edrsilver.com

Follow Endeavour Silver on Facebook, Twitter, Instagram and LinkedIn

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements concern the Company’s strategic plans, completion of the Bruner Gold Project acquisition, timing and expectations for the Company’s exploration and drilling programs, estimates of mineralization from drilling, geological information projected from sampling results and the potential quantities and grades of the target zones. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the completion of the Bruner Gold Project acquisition, receipt of shareholder approval by Canamex; conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones. The actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors including: satisfaction of closing conditions for the Bruner Gold Project acquisition, receipt of shareholder approval by Canamex; the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt of title opinion on the Bruner Property, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data, and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Source: Endeavour Silver Corporation

Endeavour Silver Signs Agreement To Acquire Bruner Gold Project In Nye County Nevada

 


Endeavour Silver Signs Agreement To Acquire Bruner Gold Project In Nye County, Nevada

 

VANCOUVER, British Columbia, July 19, 2021 (GLOBE NEWSWIRE) — Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) announces it has entered into a definitive agreement (the “Agreement”) with Canamex Gold Corp. to acquire a 100% interest in Canamex’ Bruner Property, a gold exploration, located in Nye County, Nevada approximately 180 kilometres (km) southeast of Reno for US$10 million in cash.

Gold was originally discovered at Bruner in 1906 and the district saw intermittent historic small-scale mining between 1906 and 1998. Recent exploration activities by previous operators included mapping, sampling, geophysical surveys and drilling, culminating in a mineral resource estimate in 2015 and a preliminary economic assessment in 2017 outlining a low capital cost, open pit, heap leach mine operation.

Highlights of the Properties:

  • Acquiring a 100% interest totalling 1,457 hectares on patented and unpatented claims, subject to pre-existing NSR royalties, some of which can be repurchased.

  • Ideally located within Nevada’s Walker Lane northwest trending mineral belt currently hosting several producing mines and recent discoveries.

  • Readily accessible by paved highway and gravel roads only 25 km from the town of Gabbs, Nevada. High voltage power is available approximately 30 km from the project and water rights have been secured.

  • Favourable geology with gold and silver occurring in low-sulphidation epithermal veins and in disseminations within sheeted and stockwork zones. Three gold areas have been outlined within a broad 3 km zone of anomalous gold values.

  • Historic resources of 342,000 ounces of gold contained in 17.5 million tonnes grading 0.61 grams per tonne in three zones, Paymaster, HRA and Penelas, as estimated by Canamex Gold. Endeavour has not verified this historic resource estimate and is not relying on it. See below for historic resource estimate qualifications.

  • Strong potential to discover additional gold and silver mineralization amenable to open pit mining, as shown by surface sampling between Paymaster, HRA and Penelas zones.

  • Excellent metallurgy – cyanide leach test results show that each mineralized zone has gold recoveries > 85% for 0.75” to 3.0” crush size with potential for run-of-mine leaching.

  • Provides diversification with an advanced stage exploration project in Nevada, USA, a world class, stable mining jurisdiction.

Endeavour CEO, Dan Dickson, commented “We are pleased to add an advanced stage precious metals exploration property to our project pipeline. Bruner represents a good start on building an attractive gold-silver portfolio in Nevada and should be an accretive acquisition for our five-year strategic plan to become a premier senior silver producer, with potential for exploration discoveries, district acquisitions, near-term production, and organic growth.

“Our exploration team will focus initially on verifying the historic resources, then turn its attention to the many exploration targets on the Bruner Property. We look forward to unlocking the full potential of the Bruner Property with the goal of building a new mining operation in another historic mining district in Nevada.”

Transaction Summary

Pursuant to the Agreement, Endeavour will pay US$10 million in cash for 100% of the Bruner Gold Project which includes mineral claims, mining rights, property assets, water rights, and government authorizations and permits. Completion of the transactions under the Agreement is subject to customary closing conditions and is subject to Canamex shareholder approval.

The Bruner Gold Project resource estimate was prepared for Canamex Gold in a technical report dated January 22, 2018 titled “NI 43-101 Technical Report on the Bruner Gold Project, Updated Preliminary Economic Assessment, Nye County, Nevada, USA” by Welsh Hagen Associates. The resource estimate was established through surface drilling. A Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource or mineral reserve.

Endeavour is not treating the historical estimate as a current mineral resource or mineral reserve, has not verified the historical resource estimate and is not relying on it. Endeavour plans to “twin” certain drill holes and conduct a drilling program to upgrade the historical estimate as a current mineral resource.

Dale Mah, B.Sc., P.Geo., Endeavour’s Vice President Corporate Development, is the Qualified Person who reviewed and approved this news release.

About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer.  Our philosophy of corporate social integrity creates value for all stakeholders.

SOURCE Endeavour Silver Corp.

SOURCE Endeavour Silver Corp.

Contact Information:
Galina Meleger, Director, Investor Relations
Toll free: (877) 685-9775
Tel: (604) 640-4804
Email: gmeleger@edrsilver.com
Website: www.edrsilver.com

Follow Endeavour Silver on Facebook, Twitter, Instagram and LinkedIn

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements concern the Company’s strategic plans, completion of the Bruner Gold Project acquisition, timing and expectations for the Company’s exploration and drilling programs, estimates of mineralization from drilling, geological information projected from sampling results and the potential quantities and grades of the target zones. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the completion of the Bruner Gold Project acquisition, receipt of shareholder approval by Canamex; conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones. The actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors including: satisfaction of closing conditions for the Bruner Gold Project acquisition, receipt of shareholder approval by Canamex; the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt of title opinion on the Bruner Property, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data, and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Source: Endeavour Silver Corporation

Sierra Metals (SMTS)(SMT:CA) – Thoughts Ahead of Second Quarter Production and Financial Results

Monday, July 19, 2021

Sierra Metals (SMTS)(SMT:CA)
Thoughts Ahead of Second Quarter Production and Financial Results

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.

    Second quarter production and financial results. The company will release second quarter 2021 financial results after the market close on August 9 and will host an investor call on August 10 at 10:30 am ET. We expect the company to release second quarter production results this week after which we will update our financial estimates.

    Update on strategic review process.  At the latest, Sierra Metals expects to provide an update on its strategic review during its second quarter investor call on August 10. Recall that in January, Sierra Metals began a process to explore and evaluate potential strategic alternatives, including the sale of all or part of the company, a sale of some of the assets of the company, a merger or other …



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. 

Garibaldi Resources Corp (GGIFF)(GGI:CA) – Positive Indications from Initial SkyTEM Survey

Friday, July 16, 2021

Garibaldi Resources Corp (GGIFF)(GGI:CA)
Positive Indications from Initial SkyTEM Survey

Garibaldi Resources Corp is a Canadian-based junior exploration company. It is engaged in the acquisition, exploration, and evaluation of mineral properties located in Canada and Mexico. The company’s projects in Mexico include the La Patilla, the Rodadero, the Tonichi and the Iris project. Its projects in Canada include the PSP and King projects, The Cariboo Copper and Gold project, the Red Lion project, the Grizzly project, the Tora Tora project and the Black Gold project.

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.

    2021 exploration program. In May, Garibaldi outlined plans to expand the E&L nickel-copper-cobalt-precious-metal massive sulphide zone at Nickel Mountain, and identify new discoveries along the 15 kilometer strike-length between E&L and the nickel-copper outcrops identified at Mount Shirley in 2020. Garibaldi will also explore for Eskay Creek type gold-silver rich volcanogenic-massive-sulphide (VMS) mineralization in the Hazelton Group, which encompasses a significant portion of Garibaldi’s Palm Springs claims.

    Geophysical surveys.  The first stage of the 2021 program includes two airborne geophysical surveys. A Z-Axis Tipper Electromagnetic (ZTEM) survey will test the depth of the battery metal-rich E&L intrusion and survey for E&L type conductors along the northeast gabbro trend to Mount Shirley and cover the Palm Springs claim to detect conductors prospective for hosting Eskay Creek style …



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. 

Release – Sierra Metals Provides Update on Strategic Review Process


Sierra Metals Provides Update on Strategic Review Process

 

TORONTO–(BUSINESS WIRE)–Sierra Metals Inc. (TSX: SMT) (NYSE American: SMTS) (BVL: SMT) (“Sierra Metals” or the “Company”) is providing an update to the strategic review process originally announced in a press release dated January 8, 2021.

The Board and Management of Sierra Metals continues its evaluation of strategic alternatives and expects to provide an update, at the latest, as part of its scheduled Q2 Consolidated Financial Results call on August 10, 2021. The Board and Management remain engaged and focused on maximizing value for Sierra Metals’ shareholders and evaluating options before the Company with a view to considering the interests of all stakeholders in Sierra Metals.

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.

Continue to Follow, Like and Watch our progress:

Webwww.sierrametals.com | Twittersierrametals | FacebookSierraMetalsInc | LinkedInSierra Metals Inc | Instagramsierrametals

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 18, 2021 for its fiscal year ended December 31, 2020 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 at www.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.

Contacts

Mike McAllister
Vice President, Investor Relations
Sierra Metals Inc.
Tel: +1 (416) 366-7777
Email: info@sierrametals.com

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

Release – Golden Predator Provides Update on Arizona Gold Transaction


Golden Predator Provides Update on Arizona Gold Transaction

 

VANCOUVER, British Columbia, July 14, 2021 (GLOBE NEWSWIRE) — Golden Predator Mining Corp. (TSX.V:GPY; OTCQX:NTGSF) (“Golden Predator“) is pleased to provide a corporate update including information concerning the Arizona Gold Corp. (“Arizona”) and Golden Predator merger agreement forming a new North American focused near-term gold producer (the “Transaction”).


Arizona Gold Information Update and Transaction Highlights
A joint information circular will be mailed in the coming days to shareholders of record of Class A Common Shares as of July 16, 2021. The shareholder vote will be held on August 25, 2021 at 10:00 a.m. (Vancouver time) at the office of Morton Law LLP at 1200 – 750 West Pender Street, Vancouver, BC V6C 2T8, with the option to attend virtually by video conference.

Under the terms of the Agreement, all of the issued and outstanding common shares of Golden Predator will be exchanged for common shares of Arizona on the basis of 1.65 common shares of Arizona per common share of Golden Predator (the “Exchange Ratio”). Upon completion of the Transaction, existing Arizona and Golden Predator shareholders will own approximately 55% and 45% of the combined company common shares, respectively, on an outstanding basis. For more information please see Golden Predator’s News Release dated June 28, 2021.

Transaction highlights:

  • Creates a diversified near-term gold producer in North America through sequential development of the fully permitted Copperstone mine in Arizona followed by the Brewery Creek mine in the Yukon;
  • Combined resource base1 of approximately 1.1 million oz gold in the Measured & Indicated categories, plus an additional approximate 1.5 million oz gold in the Inferred category, paired with considerable exploration upside at each project;
  • Experienced leadership team including Giulio Bonifacio as President & CEO and William Sheriff as Non-Executive Chairman, to be supported by a technical team with backgrounds in both mine-building and operations;
  • Improved capital markets scale to enhance investor visibility and positioning amongst peers, plus a broadened shareholder base; and
  • Combined cash and investments of $23M2, including shareholdings in Seabridge Gold Inc., C2C Gold Corp. and Group 11 Technologies Inc.

About Arizona Gold Corp.
Arizona Gold is an emerging American gold producer advancing the restart of production at its 100% owned, fully permitted, past-producing Copperstone mine project, located in mining-friendly Arizona. The Copperstone mine project demonstrates significant upside exploration potential that has yet to be drilled within a 50 km2 land package that includes past production of over 500,000 oz gold by way of an open-pit operation.

About Golden Predator Mining Corp.
Golden Predator is advancing the past-producing Brewery Creek mine towards a timely resumption of mining activities in Canada’s Yukon. The project has established resources grading over 1.0 g/t gold and both a technical report and Bankable Feasibility Study underway to define the economics of a restart of heap leach operations at the Brewery Creek mine. The 180 km2 brownfield property is located 55 km by road from Dawson City, Yukon and operates under a Socio-Economic Accord with the Tr’ondëk Hwëch’in First Nation. The Company also holds the Marg project, with a NI 43-101 compliant resource, the Gold Dome project and the Grew Creek project.

For additional information on Golden Predator and the Brewery Creek mine, please visit the website at www.goldenpredator.com.

Contact Information
Arizona Gold Corp.
Giulio Bonifacio
CEO & Director
604-318-6760
gtbonifacio@arizona-gold.com
Golden Predator Mining Corp.
William Sheriff
Executive Chair
972-333-2214
wms@goldenpredator.com

___________________________________
1 For Copperstone, please reference the independent technical report titled “National Instrument 43-101 Technical Report: Preliminary Feasibility Study for the Copperstone Project, La Paz County, Arizona, USA” completed by Hard Rock Consulting, LLC, effective date April 1, 2018. For Brewery Creek, please reference the Independent technical report titled “NI 43-101 Technical Report on Resources – Brewery Creek Project, Yukon, Canada” completed by Gustavson Associates LLC, effective date May 31, 2020.
2 Includes pro forma cash of $9.6M as at March 31, 2021 and pro forma equity investments calculated as at June 25, 2021, excluding transaction costs.

Cautionary Statements
Certain information contained herein constitutes forward-looking information or statements under applicable securities legislation and rules. Such statements include, but are not limited to, statements with respect to the anticipated completion of the Transaction and the acquisition of the Marg Project. 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 Arizona and/or Golden Predator to be materially different from those expressed or implied by such forward-looking statements, including, but not limited to: (i) any inability of the parties to satisfy the conditions to the completion of the Transaction on acceptable terms or at all; and (ii) receipt of necessary stock exchange, court and shareholder approvals. Although management of each of Arizona and Golden Predator 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. The parties 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 Arizona 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 Arizona 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 Arizona common shares, nor shall there be any offer or sale of the Arizona 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. 

Golden Predator Provides Update on Arizona Gold Transaction


Golden Predator Provides Update on Arizona Gold Transaction

 

VANCOUVER, British Columbia, July 14, 2021 (GLOBE NEWSWIRE) — Golden Predator Mining Corp. (TSX.V:GPY; OTCQX:NTGSF) (“Golden Predator“) is pleased to provide a corporate update including information concerning the Arizona Gold Corp. (“Arizona”) and Golden Predator merger agreement forming a new North American focused near-term gold producer (the “Transaction”).


Arizona Gold Information Update and Transaction Highlights
A joint information circular will be mailed in the coming days to shareholders of record of Class A Common Shares as of July 16, 2021. The shareholder vote will be held on August 25, 2021 at 10:00 a.m. (Vancouver time) at the office of Morton Law LLP at 1200 – 750 West Pender Street, Vancouver, BC V6C 2T8, with the option to attend virtually by video conference.

Under the terms of the Agreement, all of the issued and outstanding common shares of Golden Predator will be exchanged for common shares of Arizona on the basis of 1.65 common shares of Arizona per common share of Golden Predator (the “Exchange Ratio”). Upon completion of the Transaction, existing Arizona and Golden Predator shareholders will own approximately 55% and 45% of the combined company common shares, respectively, on an outstanding basis. For more information please see Golden Predator’s News Release dated June 28, 2021.

Transaction highlights:

  • Creates a diversified near-term gold producer in North America through sequential development of the fully permitted Copperstone mine in Arizona followed by the Brewery Creek mine in the Yukon;
  • Combined resource base1 of approximately 1.1 million oz gold in the Measured & Indicated categories, plus an additional approximate 1.5 million oz gold in the Inferred category, paired with considerable exploration upside at each project;
  • Experienced leadership team including Giulio Bonifacio as President & CEO and William Sheriff as Non-Executive Chairman, to be supported by a technical team with backgrounds in both mine-building and operations;
  • Improved capital markets scale to enhance investor visibility and positioning amongst peers, plus a broadened shareholder base; and
  • Combined cash and investments of $23M2, including shareholdings in Seabridge Gold Inc., C2C Gold Corp. and Group 11 Technologies Inc.

About Arizona Gold Corp.
Arizona Gold is an emerging American gold producer advancing the restart of production at its 100% owned, fully permitted, past-producing Copperstone mine project, located in mining-friendly Arizona. The Copperstone mine project demonstrates significant upside exploration potential that has yet to be drilled within a 50 km2 land package that includes past production of over 500,000 oz gold by way of an open-pit operation.

About Golden Predator Mining Corp.
Golden Predator is advancing the past-producing Brewery Creek mine towards a timely resumption of mining activities in Canada’s Yukon. The project has established resources grading over 1.0 g/t gold and both a technical report and Bankable Feasibility Study underway to define the economics of a restart of heap leach operations at the Brewery Creek mine. The 180 km2 brownfield property is located 55 km by road from Dawson City, Yukon and operates under a Socio-Economic Accord with the Tr’ondëk Hwëch’in First Nation. The Company also holds the Marg project, with a NI 43-101 compliant resource, the Gold Dome project and the Grew Creek project.

For additional information on Golden Predator and the Brewery Creek mine, please visit the website at www.goldenpredator.com.

Contact Information
Arizona Gold Corp.
Giulio Bonifacio
CEO & Director
604-318-6760
gtbonifacio@arizona-gold.com
Golden Predator Mining Corp.
William Sheriff
Executive Chair
972-333-2214
wms@goldenpredator.com

___________________________________
1 For Copperstone, please reference the independent technical report titled “National Instrument 43-101 Technical Report: Preliminary Feasibility Study for the Copperstone Project, La Paz County, Arizona, USA” completed by Hard Rock Consulting, LLC, effective date April 1, 2018. For Brewery Creek, please reference the Independent technical report titled “NI 43-101 Technical Report on Resources – Brewery Creek Project, Yukon, Canada” completed by Gustavson Associates LLC, effective date May 31, 2020.
2 Includes pro forma cash of $9.6M as at March 31, 2021 and pro forma equity investments calculated as at June 25, 2021, excluding transaction costs.

Cautionary Statements
Certain information contained herein constitutes forward-looking information or statements under applicable securities legislation and rules. Such statements include, but are not limited to, statements with respect to the anticipated completion of the Transaction and the acquisition of the Marg Project. 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 Arizona and/or Golden Predator to be materially different from those expressed or implied by such forward-looking statements, including, but not limited to: (i) any inability of the parties to satisfy the conditions to the completion of the Transaction on acceptable terms or at all; and (ii) receipt of necessary stock exchange, court and shareholder approvals. Although management of each of Arizona and Golden Predator 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. The parties 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 Arizona 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 Arizona 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 Arizona common shares, nor shall there be any offer or sale of the Arizona 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. 

Sierra Metals Provides Update on Strategic Review Process


Sierra Metals Provides Update on Strategic Review Process

 

TORONTO–(BUSINESS WIRE)–Sierra Metals Inc. (TSX: SMT) (NYSE American: SMTS) (BVL: SMT) (“Sierra Metals” or the “Company”) is providing an update to the strategic review process originally announced in a press release dated January 8, 2021.

The Board and Management of Sierra Metals continues its evaluation of strategic alternatives and expects to provide an update, at the latest, as part of its scheduled Q2 Consolidated Financial Results call on August 10, 2021. The Board and Management remain engaged and focused on maximizing value for Sierra Metals’ shareholders and evaluating options before the Company with a view to considering the interests of all stakeholders in Sierra Metals.

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.

Continue to Follow, Like and Watch our progress:

Webwww.sierrametals.com | Twittersierrametals | FacebookSierraMetalsInc | LinkedInSierra Metals Inc | Instagramsierrametals

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 18, 2021 for its fiscal year ended December 31, 2020 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 at www.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.

Contacts

Mike McAllister
Vice President, Investor Relations
Sierra Metals Inc.
Tel: +1 (416) 366-7777
Email: info@sierrametals.com

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