Aurania Reports Progress in Drilling Kuri-Yawi Target in Ecuador

 

Toronto, Ontario, April 9, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) reports that diamond drilling of the Kuri-Yawi target is well underway and proceeding as planned in the Company’s Lost Cities – Cutucu Project (“Project”) in southeastern Ecuador.  The drill hole, inclined at 60° is still a significant distance away from the MobileMT target, however epithermal-type veining has been encountered in brecciated lava in the upper part of the hole.

The target is about 1.1 kilometres from siliceous sinter outcrop and 200 metres from geochemical anomalies of pathfinder elements (arsenic, antimony, selenium, thallium, mercury and silver) at surface.  Epithermal veins are reportedly outcropping in a riverbank below the current drill hole, and an underlying area of geophysical interest has been identified in MobileMT data as reported on in the Company’s press release dated January 29, 2021.  The target at depth is a strong conductor, which may be a zone of sulphide, capped by a strong resistor, which itself may be a zone of silica-flooding.  The epithermal-type veining encountered in brecciated basalt contains significant amounts of black “pyrobitumen”, which is a pseudo-mineral composed of carbon and derived from hydrocarbon (crude petroleum or related substances).  The pyrobitumen lies as colloform layers within the veins with pyrite/marcasite, quartz, sphalerite and carbonate also in bands.    

Aurania’s Chairman & CEO, Dr. Keith Barron commented, “I consider this discovery of pyrobitumen to be potentially of high significance.  It is rarely documented in epithermal scenarios but perhaps significantly it occurs at gold deposits and occurrences such as McLaughlin in California, Esquel in Argentina, Waiotapu in North Island New Zealand, several Carlin Trend gold mines and in the Witwatersrand of South Africa.  The genetic relationship between gold deposits and hydrocarbon as a transport mechanism in gold systems may be tenuous, but hydrocarbon in geothermal fluids may have scavenged gold much as a carbon-in-pulp system is used in commercial gold recovery in many operating mines to strip gold from pregnant solution.  It has been a mystery for us that we have very high levels of pathfinder elements such as arsenic, antimony, selenium and thallium on surface in the area and yet samples are entirely devoid of gold.  The implication is that a very efficient natural mechanism is stripping hydrothermal fluids of their gold before they get anywhere near the paleosurface.”

 

Image 1: Photo of core from hole YW-008 of a banded vein in lava.  The vein has pyrite at its margin, lined with a thin layer of dark pyrobitumen, then carbonate, a thick band of pyrobitumen, with the core of the vein being filled with carbonate.

 

Image 2: Photo of core from hole YW-008 of a banded epithermal vein in lava.  The vein has pyrite at its margin, lined with carbonate, followed by dark pyrobitumen, a second layer of carbonate, then a second layer of pyrobitumen, carbonate and silica at the centre with more pyrite.

 

Image 3: Photo of banded cavity-filling in lava in core from hole YW-008.  The margin of the cavity is pyrite-rich and is lined by carbonate, then pyrobitumen, a second layer of carbonate, sphalerite in the carbonate, a second layer of pyrobitumen, with chalcedonic silica in the centre.

The Company plans to report on progress at its other key drill targets and exploration programs in subsequent press releases. 

MobileMT Geophysical Survey
The heliborne MobileMT survey is now completed and is being interpreted.  The MobileMT survey was undertaken by MPX Geophysics Ltd. in association with Expert Geophysics Limited, both of Toronto, Canada.

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 Progress in Drilling Kuri-Yawi Target in Ecuador

 

Toronto, Ontario, April 9, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) reports that diamond drilling of the Kuri-Yawi target is well underway and proceeding as planned in the Company’s Lost Cities – Cutucu Project (“Project”) in southeastern Ecuador.  The drill hole, inclined at 60° is still a significant distance away from the MobileMT target, however epithermal-type veining has been encountered in brecciated lava in the upper part of the hole.

The target is about 1.1 kilometres from siliceous sinter outcrop and 200 metres from geochemical anomalies of pathfinder elements (arsenic, antimony, selenium, thallium, mercury and silver) at surface.  Epithermal veins are reportedly outcropping in a riverbank below the current drill hole, and an underlying area of geophysical interest has been identified in MobileMT data as reported on in the Company’s press release dated January 29, 2021.  The target at depth is a strong conductor, which may be a zone of sulphide, capped by a strong resistor, which itself may be a zone of silica-flooding.  The epithermal-type veining encountered in brecciated basalt contains significant amounts of black “pyrobitumen”, which is a pseudo-mineral composed of carbon and derived from hydrocarbon (crude petroleum or related substances).  The pyrobitumen lies as colloform layers within the veins with pyrite/marcasite, quartz, sphalerite and carbonate also in bands.    

Aurania’s Chairman & CEO, Dr. Keith Barron commented, “I consider this discovery of pyrobitumen to be potentially of high significance.  It is rarely documented in epithermal scenarios but perhaps significantly it occurs at gold deposits and occurrences such as McLaughlin in California, Esquel in Argentina, Waiotapu in North Island New Zealand, several Carlin Trend gold mines and in the Witwatersrand of South Africa.  The genetic relationship between gold deposits and hydrocarbon as a transport mechanism in gold systems may be tenuous, but hydrocarbon in geothermal fluids may have scavenged gold much as a carbon-in-pulp system is used in commercial gold recovery in many operating mines to strip gold from pregnant solution.  It has been a mystery for us that we have very high levels of pathfinder elements such as arsenic, antimony, selenium and thallium on surface in the area and yet samples are entirely devoid of gold.  The implication is that a very efficient natural mechanism is stripping hydrothermal fluids of their gold before they get anywhere near the paleosurface.”

 

Image 1: Photo of core from hole YW-008 of a banded vein in lava.  The vein has pyrite at its margin, lined with a thin layer of dark pyrobitumen, then carbonate, a thick band of pyrobitumen, with the core of the vein being filled with carbonate.

 

Image 2: Photo of core from hole YW-008 of a banded epithermal vein in lava.  The vein has pyrite at its margin, lined with carbonate, followed by dark pyrobitumen, a second layer of carbonate, then a second layer of pyrobitumen, carbonate and silica at the centre with more pyrite.

 

Image 3: Photo of banded cavity-filling in lava in core from hole YW-008.  The margin of the cavity is pyrite-rich and is lined by carbonate, then pyrobitumen, a second layer of carbonate, sphalerite in the carbonate, a second layer of pyrobitumen, with chalcedonic silica in the centre.

The Company plans to report on progress at its other key drill targets and exploration programs in subsequent press releases. 

MobileMT Geophysical Survey
The heliborne MobileMT survey is now completed and is being interpreted.  The MobileMT survey was undertaken by MPX Geophysics Ltd. in association with Expert Geophysics Limited, both of Toronto, Canada.

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.

 

Endeavour Silver Produces 1,048,100 oz Silver and 11,109 oz Gold for 1.9 Million oz Silver Equivalents in Q1, 2021

 

VANCOUVER, British Columbia, April 08, 2021 (GLOBE NEWSWIRE) —
Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) reports production of 1,048,100 silver ounces (oz) and 11,109 gold oz in Q1, 2021, for silver equivalent (AgEq) production of 1.9 million oz at an 80:1 silver:gold ratio. Silver production increased 22% and gold production increased 31% compared to Q1, 2020, due primarily to higher ore grades mined and processed.

2021 First Quarter Highlights

• Consolidated
  Production on Plan: Silver equivalent production at each mine is on track to meet or exceed 2021 production plans.
• Guanacevi
  Production on Plan: Higher silver and gold grades were partly offset by slightly lower throughput than planned during the quarter.
• Bolanitos Ahead of Plan: Processed tonnes, gold grade and gold recoveries are ahead of plan, partly offset by slightly lower silver grades and recoveries compared to plan.
• El Compas Ahead of Plan: Processed tonnes, and gold grade are ahead of plan, partly offset by slightly lower silver grade and lower gold recoveries compared to plan.
• Metal Sales and
  Inventories: Sold 623,379 oz silver and 10,663 oz gold, held 523,235 oz silver and 1,123 oz gold of bullion inventory and 6,582 oz silver and 566 oz gold in concentrate inventory. Management withheld metal from sale during the price correction over last two weeks of March and plans to sell the withheld metal inventory in anticipation of a precious metal prices rebound in Q2, 2021.
• Signed Definitive
  Agreement to Sell the El Cubo Assets: Advanced sale of the El Cubo mine in Guanajuato, Mexico to VanGold Mining Corp for $15 million in cash and share payments, with up to $3 million in contingent payments. The transaction is anticipated to close in April 2021.
• Shares Included in Two Major Indices: The Company’s common shares were added to the S&P/TSX Composite Index and the NYSE Arca Gold Miners Index (GDX ETF) in March.
• Announced Management Succession Plan: Bradford Cooke plans to step down as CEO and assume the role of Executive Chair of the Company following the AGM on May 12, 2021. Dan Dickson has been nominated to the role of CEO and Christine West has been nominated to become the CFO. Both Mr. Dickson and Ms. West have been key members of management for over 13 years and will lead the Company into its next phase of growth.

Bradford Cooke, Endeavour CEO, commented, “It is gratifying to see the Company firing on all cylinders, with the mining operations meeting or exceeding expectations and the development team advancing the Terronera project to drive the next phase of growth. I will look forward to supporting Dan and Christine in their new roles as they build a bigger and better Company.”

Mine Operations

Consolidated silver and gold production were both higher in Q1, 2021 compared to Q1, 2020 due to a significant increase in ore grades at Guanacevi and improved throughput and ore grades at Bolanitos.

Guanacevi silver and gold grades were higher compared to Q1, 2020 and well above plan. In February, unusually cold weather in northern Mexico resulted in power curtailments effecting mine and process plant production over a three-day period. In March, throughput was lower than initially planned as the refurbishment of the tailings filter presses impacted daily throughput. The plant throughput is expected to return to its 1200 tonnes per day capacity in April. Stockpiled ore inventory increased during the quarter as the mine output was on plan. With the higher metal prices, supplies of local third-party ores continued to supplement mine production, amounting to 10% of quarterly throughput, and contributed to the higher ore grades. Ore grades are expected to revert to plan in Q2, 2021 and for the remainder of the year.

Bolanitos and El Compas processed tonnes, and gold grade were all higher compared to Q1, 2020, partly offset by lower silver grades and both mines are slightly ahead of planned production. Settlement of El Compas concentrates resulted in lower recoveries during the quarter.

COVID-19 pandemic remains prevalent in Mexico, and at the Company’s business locations, process and protocols remain in place to ensure staff and workers as well as our communities remain as safe as possible.

Production Highlights for Q1, 2021

Q1 2021 Highlights	Three Months Ended March 31
	2021	2020	% Change
Throughput (tonnes)	209,453	199,327	5%
Silver ounces produced	1,048,100	857,659	22%
Gold ounces produced	11,109	8,476	31%
Payable silver ounces produced	1,036,710	849,791	22%
Payable gold ounces produced	10,894	8,320	31%
Silver equivalent ounces produced(1)	1,936,820	1,535,739	26%
Silver ounces sold	623,379	665,500	(6%)
Gold ounces sold	10,663	7,454	43%

⁽¹⁾    Silver
equivalent ounces calculated using 80 :1 ratio .

Production Tables for First Quarter, 2021 by Mine

Production	Tonnes	Tonnes	Grade	Grade	Recovery	Recovery	Silver	Gold
by mine	Produced	per day	Ag gpt ( 1)	Au gpt ( 1)	Ag %	Au %	Oz	Oz
Guanaceví	88,632	974	369	1.05	87.3%	91.7%	918,217	2,743
Bolañitos	97,692	1,074	38	2.15	89.0%	91.5%	106,227	6,182
El Compas	23,129	254	47	4.12	67.7%	71.3%	23,656	2,184
Consolidated	209,453	2,302	179	1.90	86.9%	86.7%	1,048,100	11,109

⁽¹⁾  gpt = grams per tonne

Release of First Quarter,
2021 Financial Results and Conference Call

The 2021 First Quarter Financial Results will be released before market on Tuesday, May 11, 2021 and a telephone conference call will be held the same day at 9:00am PT (12:00pm ET). To participate in the conference call, please dial the numbers below. No pass code is necessary.

Toll-free in Canada and the US: 1-800-319-4610
Local Vancouver: 604-638-5340
Outside of Canada and the US: +604-638-5340

A replay of the conference call will be available by dialing 1-800-319-6413 in Canada and the US (toll-free) or +604-638-9010 outside of Canada and the US. The required pass code is 6594#. The audio replay and a written transcript will be available on the Company’s website at www.edrsilver.com under the Investor Relations, Events section.

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.

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 and information herein
include but are not limited to statements regarding the timing of suspension of
mining operations, Endeavour’s anticipated performance in 2021, including
production forecasts, cost estimates and metal price estimates, and the timing
and results of mine expansion and development and receipt of various permits.
The Company does not intend to and does not assume any obligation to update
such forward-looking statements or information, other than as required by
applicable law.

Forward-looking
statements or information involve known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity, performance
or achievements of Endeavour and its operations to be materially different from
those expressed or implied by such statements. Such factors include, among
others, uncertainty of the ultimate impact of the COVID 19 pandemic on
operations, changes in national and local governments, legislation, taxation,
controls, regulations and political or economic developments in Canada and
Mexico; operating or technical difficulties in mineral exploration, development
and mining activities; risks and hazards of mineral exploration, development
and mining; metal prices; the speculative nature of mineral exploration and
development, risks in obtaining necessary licenses and permits, and challenges
to the Company’s title to properties; as well as those factors described in the
section “risk factors” contained in the Company’s most recent form 40F/Annual
Information Form filed with the S.E.C. and Canadian securities regulatory
authorities.

Forward-looking statements
are based on assumptions management believes to be reasonable, including but
not limited to: the continued operation of the Company’s mining operations ,the
impact of the COVID 19 pandemic on mining operations in Mexico generally, and
the Company’s operations specifically, no material adverse change in the market
price of commodities, mining operations will operate and the mining products
will be completed in accordance with management’s expectations and achieve
their stated production outcomes, resource and reserve estimates, metal prices,
and such other assumptions and factors as set out herein. Although the Company
has attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking statements or
information, there may be other factors that cause results to be materially different
from those anticipated, described, estimated, assessed or intended. There can
be no assurance that any forward-looking statements or information will prove
to be accurate as actual results and future events could differ materially from
those anticipated in such statements or information. Accordingly, readers
should not place undue reliance on forward-looking statements or information.

Source: Endeavour Silver Corporation

 

Endeavour Silver Produces 1,048,100 oz Silver and 11,109 oz Gold for 1.9 Million oz Silver Equivalents in Q1, 2021

 

VANCOUVER, British Columbia, April 08, 2021 (GLOBE NEWSWIRE) —
Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) reports production of 1,048,100 silver ounces (oz) and 11,109 gold oz in Q1, 2021, for silver equivalent (AgEq) production of 1.9 million oz at an 80:1 silver:gold ratio. Silver production increased 22% and gold production increased 31% compared to Q1, 2020, due primarily to higher ore grades mined and processed.

2021 First Quarter Highlights

• Consolidated
  Production on Plan: Silver equivalent production at each mine is on track to meet or exceed 2021 production plans.
• Guanacevi
  Production on Plan: Higher silver and gold grades were partly offset by slightly lower throughput than planned during the quarter.
• Bolanitos Ahead of Plan: Processed tonnes, gold grade and gold recoveries are ahead of plan, partly offset by slightly lower silver grades and recoveries compared to plan.
• El Compas Ahead of Plan: Processed tonnes, and gold grade are ahead of plan, partly offset by slightly lower silver grade and lower gold recoveries compared to plan.
• Metal Sales and
  Inventories: Sold 623,379 oz silver and 10,663 oz gold, held 523,235 oz silver and 1,123 oz gold of bullion inventory and 6,582 oz silver and 566 oz gold in concentrate inventory. Management withheld metal from sale during the price correction over last two weeks of March and plans to sell the withheld metal inventory in anticipation of a precious metal prices rebound in Q2, 2021.
• Signed Definitive
  Agreement to Sell the El Cubo Assets: Advanced sale of the El Cubo mine in Guanajuato, Mexico to VanGold Mining Corp for $15 million in cash and share payments, with up to $3 million in contingent payments. The transaction is anticipated to close in April 2021.
• Shares Included in Two Major Indices: The Company’s common shares were added to the S&P/TSX Composite Index and the NYSE Arca Gold Miners Index (GDX ETF) in March.
• Announced Management Succession Plan: Bradford Cooke plans to step down as CEO and assume the role of Executive Chair of the Company following the AGM on May 12, 2021. Dan Dickson has been nominated to the role of CEO and Christine West has been nominated to become the CFO. Both Mr. Dickson and Ms. West have been key members of management for over 13 years and will lead the Company into its next phase of growth.

Bradford Cooke, Endeavour CEO, commented, “It is gratifying to see the Company firing on all cylinders, with the mining operations meeting or exceeding expectations and the development team advancing the Terronera project to drive the next phase of growth. I will look forward to supporting Dan and Christine in their new roles as they build a bigger and better Company.”

Mine Operations

Consolidated silver and gold production were both higher in Q1, 2021 compared to Q1, 2020 due to a significant increase in ore grades at Guanacevi and improved throughput and ore grades at Bolanitos.

Guanacevi silver and gold grades were higher compared to Q1, 2020 and well above plan. In February, unusually cold weather in northern Mexico resulted in power curtailments effecting mine and process plant production over a three-day period. In March, throughput was lower than initially planned as the refurbishment of the tailings filter presses impacted daily throughput. The plant throughput is expected to return to its 1200 tonnes per day capacity in April. Stockpiled ore inventory increased during the quarter as the mine output was on plan. With the higher metal prices, supplies of local third-party ores continued to supplement mine production, amounting to 10% of quarterly throughput, and contributed to the higher ore grades. Ore grades are expected to revert to plan in Q2, 2021 and for the remainder of the year.

Bolanitos and El Compas processed tonnes, and gold grade were all higher compared to Q1, 2020, partly offset by lower silver grades and both mines are slightly ahead of planned production. Settlement of El Compas concentrates resulted in lower recoveries during the quarter.

COVID-19 pandemic remains prevalent in Mexico, and at the Company’s business locations, process and protocols remain in place to ensure staff and workers as well as our communities remain as safe as possible.

Production Highlights for Q1, 2021

Q1 2021 Highlights	Three Months Ended March 31
	2021	2020	% Change
Throughput (tonnes)	209,453	199,327	5%
Silver ounces produced	1,048,100	857,659	22%
Gold ounces produced	11,109	8,476	31%
Payable silver ounces produced	1,036,710	849,791	22%
Payable gold ounces produced	10,894	8,320	31%
Silver equivalent ounces produced(1)	1,936,820	1,535,739	26%
Silver ounces sold	623,379	665,500	(6%)
Gold ounces sold	10,663	7,454	43%

⁽¹⁾    Silver
equivalent ounces calculated using 80 :1 ratio .

Production Tables for First Quarter, 2021 by Mine

Production	Tonnes	Tonnes	Grade	Grade	Recovery	Recovery	Silver	Gold
by mine	Produced	per day	Ag gpt ( 1)	Au gpt ( 1)	Ag %	Au %	Oz	Oz
Guanaceví	88,632	974	369	1.05	87.3%	91.7%	918,217	2,743
Bolañitos	97,692	1,074	38	2.15	89.0%	91.5%	106,227	6,182
El Compas	23,129	254	47	4.12	67.7%	71.3%	23,656	2,184
Consolidated	209,453	2,302	179	1.90	86.9%	86.7%	1,048,100	11,109

⁽¹⁾  gpt = grams per tonne

Release of First Quarter,
2021 Financial Results and Conference Call

The 2021 First Quarter Financial Results will be released before market on Tuesday, May 11, 2021 and a telephone conference call will be held the same day at 9:00am PT (12:00pm ET). To participate in the conference call, please dial the numbers below. No pass code is necessary.

Toll-free in Canada and the US: 1-800-319-4610
Local Vancouver: 604-638-5340
Outside of Canada and the US: +604-638-5340

A replay of the conference call will be available by dialing 1-800-319-6413 in Canada and the US (toll-free) or +604-638-9010 outside of Canada and the US. The required pass code is 6594#. The audio replay and a written transcript will be available on the Company’s website at www.edrsilver.com under the Investor Relations, Events section.

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.

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 and information herein
include but are not limited to statements regarding the timing of suspension of
mining operations, Endeavour’s anticipated performance in 2021, including
production forecasts, cost estimates and metal price estimates, and the timing
and results of mine expansion and development and receipt of various permits.
The Company does not intend to and does not assume any obligation to update
such forward-looking statements or information, other than as required by
applicable law.

Forward-looking
statements or information involve known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity, performance
or achievements of Endeavour and its operations to be materially different from
those expressed or implied by such statements. Such factors include, among
others, uncertainty of the ultimate impact of the COVID 19 pandemic on
operations, changes in national and local governments, legislation, taxation,
controls, regulations and political or economic developments in Canada and
Mexico; operating or technical difficulties in mineral exploration, development
and mining activities; risks and hazards of mineral exploration, development
and mining; metal prices; the speculative nature of mineral exploration and
development, risks in obtaining necessary licenses and permits, and challenges
to the Company’s title to properties; as well as those factors described in the
section “risk factors” contained in the Company’s most recent form 40F/Annual
Information Form filed with the S.E.C. and Canadian securities regulatory
authorities.

Forward-looking statements
are based on assumptions management believes to be reasonable, including but
not limited to: the continued operation of the Company’s mining operations ,the
impact of the COVID 19 pandemic on mining operations in Mexico generally, and
the Company’s operations specifically, no material adverse change in the market
price of commodities, mining operations will operate and the mining products
will be completed in accordance with management’s expectations and achieve
their stated production outcomes, resource and reserve estimates, metal prices,
and such other assumptions and factors as set out herein. Although the Company
has attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking statements or
information, there may be other factors that cause results to be materially different
from those anticipated, described, estimated, assessed or intended. There can
be no assurance that any forward-looking statements or information will prove
to be accurate as actual results and future events could differ materially from
those anticipated in such statements or information. Accordingly, readers
should not place undue reliance on forward-looking statements or information.

Source: Endeavour Silver Corporation

Great Bear Adds Sixth Drill at Dixie

 

April 7, 2021 – Vancouver, British Columbia,
Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today provided an update on its ongoing fully funded $45 million 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.

Great Bear is pleased to announce the arrival
of a sixth drill rig at the Dixie Project.  The sixth rig is being added to accelerate the 2021 drill program, and along with the other five drills will continue to both
infill and expand on the three main gold zones including the Hinge, Dixie Limb and LP Fault zones. 

The Company’s primary focus remains infill and expansion drilling of the LP Fault zone at 25 – 75 metre centres.  However, there remain large undrilled gaps of 100 – 400 metres between existing drill holes in several areas of the LP Fault, and within the other Dixie Project gold zones where step-out and step-down drilling have already successfully expanded the zones, all of which remain open to extension.  Upcoming drill activities are outlined below.

LP Fault zone:

• Step-out drilling to depths of approximately 800 vertical metres from surface (see news release of March 29, 2021) is planned along up to 4 kilometres of strike length of the LP Fault zone. This follows the recent successful doubling of the zone’s known vertical extent with three deep drill holes completed along a 500 metre strike length segment.
• Drill hole BR-260 (see news released dated March 29, 2021) intersected 15.57 g/t gold over 3.05 metres in the LP Fault zone 790 metres vertically below the surface and approximately 400 metres down-plunge from the nearest hole.  The intervening 400 metre gap requires follow up drilling for this and the other two recent deep drill holes.
• Approximately 1.2 kilometres of strike length of the southeast portion of the LP Fault zone has only been drilled on 150 – 200 centres to date and will require infill work (see news release of February 13, 2020).

Hinge zone:

• Drill hole BR-036 (see news release dated December 9, 2020) intersected 15.18 g/t gold over 4.90 metres in the deepest Hinge zone hole, 850 metres vertically below the surface and 510 metres down-plunge from the nearest hole.  The intervening 510 metre gap in drilling requires follow up.

Dixie Limb zone:

• Drill hole BR-085 (see news released dated May 11, 2020) intersected 10.19 g/t gold over 19.0 metres in the deepest Dixie Limb zone hole, 740 metres vertically below the surface and 380 metres down-plunge from the nearest hole.  The intervening 380 metre gap in drilling requires follow up, as does the along strike projection of the zone at depth.

Regional drilling:

• Regional targets such as the Arrow Zone (see news release of June 18, 2020) have seen limited follow up work and will require additional drilling.

Great Bear’s progress can be followed using the Company’s plan maps, long sections and cross sections, and through the VRIFY model posted at the Company’s web site at www.greatbearresources.ca, which will next be updated in Q2 2021.  All LP Fault drill hole highlighted assays, plus drill collar locations and orientations can also be downloaded at the Company’s web site.

About the Dixie Project
The Dixie Project is 100% owned, comprised of 9,140 hectares of contiguous claims that extend over 22 kilometres, and is located approximately 25 kilometres southeast of the town of Red Lake, Ontario. The project is accessible year-round via a 15 minute drive on a paved highway which runs the length of the northern claim boundary and a network of well-maintained logging roads.

The Dixie Project hosts two principal styles of gold mineralization:

• High-grade gold in quartz veins
  and silica-sulphide replacement zones (Dixie Limb, Hinge and Arrow zones). Hosted by mafic volcanic rocks and localized near regional-scale D2 fold axes.  These mineralization styles are also typical of the significant mined deposits of the Red Lake district.
• High-grade disseminated gold
  with broad moderate to lower grade envelopes (LP Fault).  The LP Fault is a significant gold-hosting structure which has been seismically imaged to extend to 14 kilometres depth (Zeng and Calvert, 2006), and has been interpreted by Great Bear to have up to 18 kilometres of strike length on the Dixie property.  High-grade gold mineralization is controlled by structural and geological contacts, and moderate to lower-grade disseminated gold surrounds and flanks the high-grade intervals.  The dominant gold-hosting stratigraphy consists of felsic sediments and volcanic units.

About Great Bear
Great Bear Resources Ltd. is a well-financed gold exploration company managed by a team with a track record of success in mineral exploration.  Great Bear is focused in the prolific Red Lake gold district in northwest Ontario, where the company controls over 330 km² of highly prospective tenure across 5 projects: the flagship Dixie Project (100% owned), the Pakwash Property (earning a 100% interest), the Dedee Property (earning a 100% interest), the Sobel Property (earning a 100% interest), and the Red Lake North Property (earning a 100% interest) all of which are accessible year-round through existing roads.

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

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

ON BEHALF OF THE BOARD
“Chris Taylor”

Chris Taylor, President and CEO

Investor Inquiries:
Mr. Knox Henderson
Tel: 604-646-8354
Direct: 604-551-2360
info@greatbearresources.ca
www.greatbearresources.ca
 

Cautionary note regarding
forward-looking statements
This release contains certain
“forward looking statements” and certain “forward-looking information” as
defined under applicable Canadian and U.S. securities laws. Forward-looking
statements and information can generally be identified by the use of
forward-looking terminology such as “may”, “will”, “should”, “expect”,
“intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar
terminology. The forward-looking information contained herein is provided for
the purpose of assisting readers in understanding management’s current
expectations and plans relating to the future. Readers are cautioned that such
information may not be appropriate for other purposes.
Forward-looking information
are based on management of the parties’ reasonable assumptions, estimates,
expectations, analyses and opinions, which are based on such management’s
experience and perception of trends, current conditions and expected developments,
and other factors that management believes are relevant and reasonable in the
circumstances, but which may prove to be incorrect.
Such factors, among other
things, include: impacts arising from the global disruption caused by the
Covid-19 coronavirus outbreak, business integration risks; fluctuations in
general macroeconomic conditions; fluctuations in securities markets;
fluctuations in spot and forward prices of gold or certain other commodities;
change in national and local government, legislation, taxation, controls,
regulations and political or economic developments; risks and hazards
associated with the business of mineral exploration, development and mining
(including environmental hazards, industrial accidents, unusual or unexpected
formations pressures, cave-ins and flooding); discrepancies between actual and
estimated metallurgical recoveries; inability to obtain adequate insurance to
cover risks and hazards; the presence of laws and regulations that may impose
restrictions on mining; employee relations; relationships with and claims by
local communities and indigenous populations; availability of increasing costs
associated with mining inputs and labour; the speculative nature of mineral
exploration and development (including the risks of obtaining necessary
licenses, permits and approvals from government authorities); and title to
properties.
Great Bear undertakes no
obligation to update forward-looking information except as required by
applicable law. Such forward-looking information represents management’s best
judgment based on information currently available. No forward-looking statement
can be guaranteed and actual future results may vary materially. Accordingly,
readers are advised not to place undue reliance on forward-looking statements
or information.

Great Bear Adds Sixth Drill at Dixie

 

April 7, 2021 – Vancouver, British Columbia,
Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today provided an update on its ongoing fully funded $45 million 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.

Great Bear is pleased to announce the arrival
of a sixth drill rig at the Dixie Project.  The sixth rig is being added to accelerate the 2021 drill program, and along with the other five drills will continue to both
infill and expand on the three main gold zones including the Hinge, Dixie Limb and LP Fault zones. 

The Company’s primary focus remains infill and expansion drilling of the LP Fault zone at 25 – 75 metre centres.  However, there remain large undrilled gaps of 100 – 400 metres between existing drill holes in several areas of the LP Fault, and within the other Dixie Project gold zones where step-out and step-down drilling have already successfully expanded the zones, all of which remain open to extension.  Upcoming drill activities are outlined below.

LP Fault zone:

• Step-out drilling to depths of approximately 800 vertical metres from surface (see news release of March 29, 2021) is planned along up to 4 kilometres of strike length of the LP Fault zone. This follows the recent successful doubling of the zone’s known vertical extent with three deep drill holes completed along a 500 metre strike length segment.
• Drill hole BR-260 (see news released dated March 29, 2021) intersected 15.57 g/t gold over 3.05 metres in the LP Fault zone 790 metres vertically below the surface and approximately 400 metres down-plunge from the nearest hole.  The intervening 400 metre gap requires follow up drilling for this and the other two recent deep drill holes.
• Approximately 1.2 kilometres of strike length of the southeast portion of the LP Fault zone has only been drilled on 150 – 200 centres to date and will require infill work (see news release of February 13, 2020).

Hinge zone:

• Drill hole BR-036 (see news release dated December 9, 2020) intersected 15.18 g/t gold over 4.90 metres in the deepest Hinge zone hole, 850 metres vertically below the surface and 510 metres down-plunge from the nearest hole.  The intervening 510 metre gap in drilling requires follow up.

Dixie Limb zone:

• Drill hole BR-085 (see news released dated May 11, 2020) intersected 10.19 g/t gold over 19.0 metres in the deepest Dixie Limb zone hole, 740 metres vertically below the surface and 380 metres down-plunge from the nearest hole.  The intervening 380 metre gap in drilling requires follow up, as does the along strike projection of the zone at depth.

Regional drilling:

• Regional targets such as the Arrow Zone (see news release of June 18, 2020) have seen limited follow up work and will require additional drilling.

Great Bear’s progress can be followed using the Company’s plan maps, long sections and cross sections, and through the VRIFY model posted at the Company’s web site at www.greatbearresources.ca, which will next be updated in Q2 2021.  All LP Fault drill hole highlighted assays, plus drill collar locations and orientations can also be downloaded at the Company’s web site.

About the Dixie Project
The Dixie Project is 100% owned, comprised of 9,140 hectares of contiguous claims that extend over 22 kilometres, and is located approximately 25 kilometres southeast of the town of Red Lake, Ontario. The project is accessible year-round via a 15 minute drive on a paved highway which runs the length of the northern claim boundary and a network of well-maintained logging roads.

The Dixie Project hosts two principal styles of gold mineralization:

• High-grade gold in quartz veins
  and silica-sulphide replacement zones (Dixie Limb, Hinge and Arrow zones). Hosted by mafic volcanic rocks and localized near regional-scale D2 fold axes.  These mineralization styles are also typical of the significant mined deposits of the Red Lake district.
• High-grade disseminated gold
  with broad moderate to lower grade envelopes (LP Fault).  The LP Fault is a significant gold-hosting structure which has been seismically imaged to extend to 14 kilometres depth (Zeng and Calvert, 2006), and has been interpreted by Great Bear to have up to 18 kilometres of strike length on the Dixie property.  High-grade gold mineralization is controlled by structural and geological contacts, and moderate to lower-grade disseminated gold surrounds and flanks the high-grade intervals.  The dominant gold-hosting stratigraphy consists of felsic sediments and volcanic units.

About Great Bear
Great Bear Resources Ltd. is a well-financed gold exploration company managed by a team with a track record of success in mineral exploration.  Great Bear is focused in the prolific Red Lake gold district in northwest Ontario, where the company controls over 330 km² of highly prospective tenure across 5 projects: the flagship Dixie Project (100% owned), the Pakwash Property (earning a 100% interest), the Dedee Property (earning a 100% interest), the Sobel Property (earning a 100% interest), and the Red Lake North Property (earning a 100% interest) all of which are accessible year-round through existing roads.

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

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

ON BEHALF OF THE BOARD
“Chris Taylor”

Chris Taylor, President and CEO

Investor Inquiries:
Mr. Knox Henderson
Tel: 604-646-8354
Direct: 604-551-2360
info@greatbearresources.ca
www.greatbearresources.ca
 

Cautionary note regarding
forward-looking statements
This release contains certain
“forward looking statements” and certain “forward-looking information” as
defined under applicable Canadian and U.S. securities laws. Forward-looking
statements and information can generally be identified by the use of
forward-looking terminology such as “may”, “will”, “should”, “expect”,
“intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar
terminology. The forward-looking information contained herein is provided for
the purpose of assisting readers in understanding management’s current
expectations and plans relating to the future. Readers are cautioned that such
information may not be appropriate for other purposes.
Forward-looking information
are based on management of the parties’ reasonable assumptions, estimates,
expectations, analyses and opinions, which are based on such management’s
experience and perception of trends, current conditions and expected developments,
and other factors that management believes are relevant and reasonable in the
circumstances, but which may prove to be incorrect.
Such factors, among other
things, include: impacts arising from the global disruption caused by the
Covid-19 coronavirus outbreak, business integration risks; fluctuations in
general macroeconomic conditions; fluctuations in securities markets;
fluctuations in spot and forward prices of gold or certain other commodities;
change in national and local government, legislation, taxation, controls,
regulations and political or economic developments; risks and hazards
associated with the business of mineral exploration, development and mining
(including environmental hazards, industrial accidents, unusual or unexpected
formations pressures, cave-ins and flooding); discrepancies between actual and
estimated metallurgical recoveries; inability to obtain adequate insurance to
cover risks and hazards; the presence of laws and regulations that may impose
restrictions on mining; employee relations; relationships with and claims by
local communities and indigenous populations; availability of increasing costs
associated with mining inputs and labour; the speculative nature of mineral
exploration and development (including the risks of obtaining necessary
licenses, permits and approvals from government authorities); and title to
properties.
Great Bear undertakes no
obligation to update forward-looking information except as required by
applicable law. Such forward-looking information represents management’s best
judgment based on information currently available. No forward-looking statement
can be guaranteed and actual future results may vary materially. Accordingly,
readers are advised not to place undue reliance on forward-looking statements
or information.

Wednesday, April 07, 2021

Palladium One Mining Inc. (NKORF)(PDM:CA)
Exploration Activities Accelerate at the Tyko Nickel-Copper Project

Palladium One Mining Inc is a palladium dominant, PGE, nickel, copper exploration and development company. Its assets consist of the Lantinen Koillismaa and Kostonjarvi PGE-Cu-Ni projects, located in north-central Finland and the Tyko Ni-Cu-PGE and Disraeli PGE-Ni-Cu properties in Ontario, Canada. LK is targeting disseminated sulphide along 38 kilometers of favorable basal contact. The KS project is targeting massive sulphide within a 20,000-hectare land package covering a regional scale gravity and magnetic geophysical anomaly. Tyko is a 13,000-hectare project targeting disseminated and massive sulphide in a highly metamorphosed Archean terrain. Disraeli is a 2,500-hectare project targeting PGE-rich disseminated and massive sulphide in a highly productive Proterozoic mid-continent rift.

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.

Phase II drilling program at Tyko. Palladium One commenced a 2,000-meter Phase II drilling program at the Tyko Ni-Cu project’s high-grade Smoke Lake nickel discovery in Canada. Recall that ground-based electromagnetic (EM) and borehole electromagnetic (BHEM) surveys were conducted in February to better define conductors hosting high-grade nickel mineralization. Ground-based and borehole EM surveys have outlined two significant conductors at Smoke Lake, one of which extends beyond the survey area. High-resolution drone-based magnetic survey data suggests a larger magnetic body occurs at depth below and to the northeast of the Smoke Lake discovery.


VTEM geophysical survey scheduled for May.  A 3,000-line kilometer airborne versatile time-domain electromagnetic (VTEM) survey will cover the entire Tyko project area to discover additional EM anomalies. The company has made productive use of geophysics to inform its drilling activities …

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. 

Ely Gold Royalties Announces Acquisition Of Tonopah West Patented Mining Claims, Nevada

 

Beneficial Three-Way Property Land Exchange Agreement

Vancouver, British Columbia, April 6, 2021 – Ely Gold Royalties Inc. (TSX-V: ELY, OTCQX: ELYGF) (“Ely Gold” or the “Company” is pleased to announce that through its wholly owned subsidiary, Nevada Select Royalty Inc, it has entered into a Property Exchange Agreement (the “Agreement”) with Blackrock Silver (TSX-V BRC) (“Blackrock”) and a group of private landowners who have surface use rights on certain of the lands within Blackrock’s Tonopah West project located in the Walker Lane trend in Nevada.

Under the Agreement, Ely Gold will acquire three patented mining claims consisting of 35.411 acres (14.3 hectares) located centrally within the Tonopah West property and contiguous to the mining claims on which Blackrock is currently drilling (figure #1). In exchange for the three patented claims, the landowners will gain Surface Rights to 100 feet (30.48 metres) below the surface on 48.94 acres (19.8 hectares), and Blackrock will retain the Mineral Estate below 100 feet.

The newly acquired patented mining claims will be subject to the Blackrock Gold Corp. Option Agreement dated February 24, 2020, wherein Blackrock is acquiring a 100% interest in the Tonopah West Project lands. The Agreement is expected to close on or before April 30, 2021.

Trey Wasser, President and CEO of Ely Gold commented; “Ely Gold is very pleased to be able to accommodate both the landowners and Blackrock to great effect. Blackrock is rapidly advancing the Tonopah West Project and they expect to be drilling underground in the near future; this new Agreement will provide the opportunity for further development while having no material impact on the project at surface. This unique Agreement between the parties is another excellent example of Ely’s ability to successfully bring parties together in Nevada.”

Qualified Person

Stephen Kenwood, P. Geo, is director of the Company and a Qualified Person as defined by NI 43-101. Mr. Kenwood has reviewed and approved the technical information in this press release.

About Ely Gold Royalties Inc.

Ely Gold Royalties Inc. is a Nevada focused gold royalty company. Its current portfolio includes royalties at Jerritt Canyon, Goldstrike and Marigold, three of Nevada’s largest gold mines, as well as the Fenelon mine in Quebec, operated by Wallbridge Mining. The Company continues to actively seek opportunities to purchase producing or near-term producing royalties. Ely Gold also generates development royalties through property sales on projects that are located at or near producing mines. Management believes that due to the Company’s ability to locate and purchase third-party royalties, its strategy of organically creating royalties and its gold focus, Ely Gold offers shareholders a favorable leverage to gold prices and low-cost access to long-term gold royalties in safe mining jurisdictions.

On Behalf of the Board of Directors
Signed “Trey Wasser”
Trey Wasser, President & CEO

For further information, please contact:

Trey Wasser, President & CEO
trey@elygoldinc.com

972-803-3087

Joanne Jobin, Investor Relations Officer
jjobin@elygoldinc.com

647-964-0292

FORWARD-LOOKING CAUTIONS: This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, including, but not limited to, statements regarding completion of the Transaction. Forwardlooking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the Company’s inability to control whether the buy-down right will ever be exercised, and whether the right of first refusal will ever be triggered, uncertainty as to whether any mining will occur on the property covered by the Probe Royalty such that the Company will receive any payment therefrom, and the general risks and uncertainties relating to the mineral exploration, development and production business. The reader is urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effect.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Source: Ely Gold Royalties

Palladium One Begins 2,000-Meter Phase II Drilling and Outlines EM Conductors at Smoke Lake High-Grade Sulphide Nickel Zone of the Tyko Project in Ontario

 

Toronto, Ontario–(Newsfile Corp. – April 6, 2021) –  A 2,000-meter Phase II drilling program at the high-grade Smoke Lake nickel discovery, which returned up to 9.9% Ni_Eq over 3.8 meters from surface (see press release January 19, 2021), on the Tyko Sulphide-Nickel-Copper project in Ontario, Canada, has started, said Palladium One Mining Inc. (TSXV: PDM) (FSE: 7N11) (OTCQB: NKORF) (“Palladium One” or the “Company”) today. In advance of drilling, in February 2021, detailed ground based Electromagnetic (“EM”) and Borehole Electromagnetic (“BHEM”) surveys were conducted to better define the conductors hosting the high-grade nickel mineralization.

EM and BHEM surveys conducted at Smoke Lake outlined two conductors, the deeper one was intersected by a single drill hole returning 6.3% Ni_Eq over 0.9 meters (see press release January 19, 2021) during the December 2020 drill program. This lower conductor extends beyond the EM survey grid to the northwest, where it remains open for extension.

“Given the very encouraging results at Smoke Lake, we have commissioned a 3,000-line kilometer, high-resolution airborne, Versatile Time-Domain Electromagnetic (VTEM™ Max) survey covering the entire Tyko Nickel-Copper Project, which includes the Bulldozer mafic-ultramafic Intrusion, the objective of which is the discovery of additional EM anomalies such as the Smoke Lake anomaly. The survey is expected to be flown in May 2021,” said Derrick Weyrauch, President and CEO.

“In addition to the work conducted at Smoke Lake in Q1 2021, the Company also completed a short reconnaissance drill program of 1,233 meters in 5 drill holes and both EM and BHEM surveys on its Disraeli PGE-Ni-Cu project, located in Ontario, Canada and within the prolific mid-continental rift.”

“Significant cobalt bearing magnetite skarn mineralization was intersected. Notably, down hole geophysics outlined an off-hole conductor at the basement contact that may represent a mafic-ultramafic feeder system to the Disraeli Intrusion, which requires follow up,” said Weyrauch.

Highlights

• A 2,000-meter Phase II drilling program on the Smoke Lake high-grade sulphide nickel discovery at the Tyko Sulphide Nickel Project has started.
• Ground based and borehole EM surveys have outlined two significant conductors at Smoke Lake, one of which extends beyond the survey area, where it remains open for extension.
• High-resolution drone based magnetic survey data suggests a larger magnetic body occurs at depth, below and to the northeast of the Smoke Lake discovery.
• 3,000-line kilometer airborne VTEM™ Max survey scheduled to be flown in May 2021 over the entire Tyko Sulphide-Nickel-Copper project.
• Disraeli project drilling intersects cobalt bearing magnetite skarn mineralization.

Tyko Phase II Drilling Program and EM Surveys, Ontario, Canada

A 2,000-meter Phase II drilling program at the high-grade sulphide-nickel discovery of Smoke Lake has started. From surface, the Smoke Lake zone returned 9.9% Ni Eq over 3.8 meters (8.13 % Ni, 2.88% Cu, 0.11% Co, 0.61 g/t Pd, 0.71 g/t Pt and 0.02 g/t Au), (see news release January 19, 2021). This Phase II program is designed to infill and expand the high-grade sulphide-nickel mineralization. The program is expected to continue until the start of spring weather conditions.

In February 2021, high-resolution ground-based and borehole EM surveys were conducted at Smoke Lake. This second ground-based survey was undertaken to supplement the initial reconnaissance survey conducted in October 2020 (see press release December 7, 2020) . The February 2021 survey provided excellent data and allowed the modeling of two conductive plates (Figure 1) which closely match the drilling results to date (Figure 1 and 2). These plates consist of smaller highly conductive near surface plate and a larger less conductive but more expansive plate. The most significant result from this survey is that the lower most conductor continues off the survey grid area, to the northwest where it remains open for expansion.

In addition to the EM surveys, the Company commission an inversion of the high-resolution drone based magnetic survey which was flown in 2020 (see press release December 7, 2020). The inversion model shows a large southwest plunging body at depth, below the Smoke Lake zone. The Smoke Lake zone is associated with a strong magnetic high at surface and an elevated magnetic response at depth (Figure 3). This deep magnetic body may represent mafic-ultramafic rocks associated with the Smoke Lake nickel mineralization, and is a high priority target.

The Company has contracted to fly a 3,000-line kilometer high resolution (100-meter line spacing) airborne EM and magnetic survey using the VTEM™ Max system. The Tyko project encompasses 200 square kilometers, the vast majority of which has seen little to no exploration or even government regional mapping. The western portion of the project has been the subject of several historic airborne EM surveys, using the technology of that time (Figure 4.), however the eastern portion is only partially covered by a 1980’s Noranda survey.

Notably it was the old 1980’s survey that detected the Smoke Lake EM anomaly at the very end of one of the flight lines (Figure 4). There is very limited airborne EM coverage surrounding the high-grade Smoke Lake nickel discovery, and absolutely no survey coverage to the south. This “terra incognita” is highly prospective for additional massive nickel sulphide discoveries, as it also hosts the Company’s Shabotik showing which has returned up to 1.0 % nickel in grab samples (see press release August 19, 2019).

Table 1: Tyko 2020 Drill Results from the Smoke Lake Discovery

Hole	From (m)	To (m)	Width (m)	Ni_Eq %	Ni_Eq lbs/t	Ni %	Cu %	Co %	PGE g/t (Pd+Pt+Au)	Pd g/t	Pt g/t	Au g/t
TK-20-015	30.0	32.4	2.3	4.78	105	3.90	1.41	0.05	0.84	0.48	0.35	0.01
Inc.	31.4	32.4	1.0	8.04	177	7.26	0.85	0.09	1.05	0.57	0.48	0.01
TK-20-016	29.0	32.8	3.8	8.74	193	6.65	3.70	0.09	1.51	0.67	0.81	0.03
Inc.	29.8	32.5	2.7	9.80	216	7.47	4.16	0.10	1.64	0.74	0.87	0.03
Inc.	29.8	30.3	0.5	10.05	221	8.20	3.08	0.10	1.50	0.88	0.58	0.04
TK-20-017	28.1	32.3	4.2	1.71	38	1.17	0.99	0.02	0.32	0.18	0.14	0.01
Inc.	29.0	31.1	2.1	3.08	68	2.14	1.75	0.03	0.58	0.32	0.25	0.01
Inc.	29.9	30.5	0.6	5.20	115	3.88	2.34	0.05	0.98	0.52	0.45	0.02
TK-20-018	36.6	37.6	1.0	1.34	30	0.95	0.54	0.02	0.52	0.30	0.21	0.01
TK-20-019	28.7	30.4	1.7	5.87	129	3.89	3.90	0.06	0.94	0.45	0.48	0.02
Inc.	29.5	30.4	0.8	8.71	192	6.17	4.73	0.09	1.59	0.79	0.78	0.02
TK-20-020	32.1	38.7	6.6	0.92	20	0.65	0.45	0.01	0.20	0.09	0.11	0.00
Inc.	32.1	34.1	2.0	1.86	41	1.29	1.07	0.02	0.37	0.18	0.19	0.01
TK-20-021	47.8	49.6	1.8	3.91	86	2.75	1.79	0.09	0.97	0.38	0.58	0.02
Inc.	47.8	49.0	1.2	5.38	119	3.76	2.49	0.13	1.31	0.50	0.79	0.03
TK-20-022	46.8	51.0	4.2	7.46	164	5.83	2.74	0.09	1.28	0.56	0.70	0.01
Inc.	48.5	50.6	2.1	8.78	193	7.26	2.34	0.12	1.30	0.48	0.81	0.01
TK-20-023	5.3	12.8	7.5	6.07	134	4.49	2.86	0.06	1.01	0.44	0.55	0.02
Inc.	8.9	12.8	3.8	9.87	218	8.13	2.88	0.11	1.33	0.61	0.71	0.02
Inc.	8.9	10.5	1.6	11.05	244	9.80	1.67	0.13	1.27	0.54	0.72	0.01
Inc.	9.5	10.0	0.5	11.21	247	10.30	0.80	0.15	1.25	0.50	0.74	0.02
TK-20-024	109.0	109.9	0.9	6.27	138	5.42	0.96	0.07	1.40	0.71	0.68	0.01
Inc.	109.0	109.6	0.6	7.85	173	7.01	0.63	0.09	1.80	0.93	0.86	0.01
TK-20-025	36.6	39.8	3.2	6.32	139	4.43	3.63	0.07	0.87	0.43	0.41	0.02
Inc.	36.6	38.8	2.2	8.72	192	6.15	4.94	0.10	1.19	0.60	0.56	0.03
Inc.	37.2	37.8	0.6	11.82	261	9.65	3.69	0.13	1.48	0.94	0.53	0.01
TK-20-026	49.5	56.5	7.1	0.47	10	0.26	0.39	0.01	0.12	0.04	0.06	0.03
Inc.	52.7	53.3	0.6	1.32	29	0.48	1.72	0.02	0.25	0.09	0.15	0.01
TK-20-027	15.8	29.5	13.7	0.25	5	0.16	0.15	0.00	0.05	0.02	0.03	0.00
Inc.	18.8	21.7	2.9	0.67	15	0.48	0.29	0.01	0.19	0.08	0.11	0.00

 
(1) Reported widths are “drilled widths” not true widths.
(2) Shaded results are previously released, see press release January 5, 2020, January 12, 2021, January 19, 2021

Figure 1. Smoke Lake location map showing new EM plates with 2020 drill holes overlain on first vertical magnetics.

 

Figure 2. Cross Section of the Smoke Lake zone showing 2020 drill holes. (see news release January 12, 2021)

 

Figure 3. Isometric view of the Smoke Lake zone area looking north-northwest showing 2020 drill holes and inverted drone based high-resolution magnetic isoshells.

 

Figure 4. Tyko Project showing total field magnetics and mineralized zones (yellow triangles). Fight lines (in black) for 1980’s Noranda survey are shown to illustrate how it detected the Smoke Lake EM anomaly at the very end of a line.

Disraeli PGE-Ni-Cu Project Drilling and EM Surveys, Ontario, Canada

In January 2021, the Company constructed a 2-kilometre ice road and then drilled 5 ice-based holes totalling 1,233 meters to test several airborne EM conductors and a reversely polarized magnetic body under Hook bay of Disraeli Lake (see news release December 9, 2020). One conductor was found to be caused by massive magnetite copper-cobalt-nickel Skarn, while several of the airborne EM conductors proved to be the result of lake sediments. (Figure 5), (Table 2). The reversely polarized magnetic body requires additional follow up as it was not adequately explained, it may be the result of a reversely polarized granophyric sill located below the Disraeli Intrusion and/or a magnetite skarn.

Borehole EM surveys were conducted on all holes drilled and were hindered by very high background conductivity, which may be the result of saline brines in the Sibley Formation sediments. Of particular note was an off-hole EM conductor identified at the Sibley – Quetico (metasedimentary basement rocks) contact (Figure 6). Unseasonably warm conditions in early March resulted in deterioration of the ice road, cutting the drill program short and thus this target was not able to be tested. This target remains a priority target.

The copper-cobalt-nickel magnetite skarn is of particular interest as it is enriched in cobalt (Table 2). The mineralization intersected in the recent program is very similar to skarn mineralization intersected 1.5 kilometers to the south in holes U17-01 and U17-02 by a previous operator. These holes intersected up to 0.13 % cobalt over 2.0 meters and 0.16 % cobalt over 0.45 meters respectively.

This cobalt bearing skarn-style mineralization has now been intersected by 4 holes on the Disraeli project indicating it is much more widespread that previously thought. The mineralization is hosted in the carbonate-rich (dolomite) Rossport unit of the Sibley Formation, mostly likely representing replacement of stromatolitic beds within the sediments. It consists of massive to stringer magnetite with 10-20% sulphides consisting of pyrite, pyrrhotite, and chalcopyrite (Figure 7).This skarn mineralization is indicative of widespread hydrothermal alteration associated with either the Disraeli intrusion or another unknown mafic-ultramafic intrusion at depth. Additional, copper mineralization is known to occur in the greater Disraeli Lake area as chalcocite and malachite hosted in stromatolites with the Sibley sediments, grab samples collected by the Ministry of Northern development in 2011 returned up to 1.57% Cu (Mineral Deposit Index MDI52H02NW00002) from this style of mineralization. All of this indicates a significant magmatic hydrothermal system was present in the Disraeli Lake area, and suggests thicker and higher-grade areas of cobalt skarn mineralization are yet to be discovered.

Table 2: Disraeli Significant Drill Hole Intersections

Operator	Hole	From (m)	To (m)	Width (m)	Cu %	Co %	Ni %
Ursa Major	U17-01	133.50	138.95	5.45	0.12	0.07	0.05
	Inc.	136.00	138.00	2.00	0.11	0.13	0.06
Ursa Major	U17-02	114.95	119.97	5.02	0.14	0.07	0.07
	Inc.	116.93	117.38	0.45	0.13	0.16	0.12
Palladium One	DL21-001	No Significant Intersections
Palladium One	DL21-002	127.10	129.73	2.63	0.12	0.05	0.09
Palladium One	DL21-003	No Significant Intersections
Palladium One	DL21-004	No Significant Intersections
Palladium One	DL21-005	127.65	129.90	2.25	0.04	0.03	0.00

 
* Reported widths are “drilled widths” not true widths.
** Orange shaded values are historic previously released results (see Ursa Major Inc. press release June 2, 2011)

 

Figure 5. Disraeli drill hole location map, background is total field magnetics.

 

Figure 6. Disraeli Project Isometric view looking north-northwest, showing the location of holes DL21-002, 003 and 005 along with down Hole EM plates and VOXI inverted strongly magnetic body.

 

Figure 7. Cu-Co-Ni mineralized massive magnetite skarn mineralization form hole DL21-002.

*Nickel Equivalent (“Ni_Eq”)
Nickel equivalent is calculated using US$1,100 per ounce for palladium, US$950 per ounce for platinum, US$1,300 per ounce for gold, US$6,614 per tonne (US$3.00 per pound) for copper, US$15,432 per tonne (US$7.00 per pound) for nickel and US$30,865 per tonne (US$14 per pound) for Cobalt. This calculation is consistent with the commodity prices used in the Company’s September 2019 NI 43-101 Kaukua resource estimate.

QA/QC

The Phase I drilling program was carried out under the supervision of Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company.

Drill core samples were split using a rock saw by Company staff, with half retained in the core box. The drill core samples were transported by company staff the Company’s core handling facility, to Actlabs laboratory in Thunder Bay, Ontario. Actlabs, is an accredited lab and are ISO compliant (ISO 9001:2015, ISO/IEC 17025:2017). PGE analysis was performed using a 30 grams fire assay with an ICP-MS or ICP-OES finish. Multi-element analyses, including copper and nickel were analysed by four acid digestion using 0.5 grams with an ICP-MS or ICP-OES finish.

Certified standards, blanks and crushed duplicates are placed in the sample stream at a rate of one QA/QC sample per 10 core samples. Results are analyzed for acceptance at the time of import. All standards associated with the results in this press release were determined to be acceptable within the defined limits of the standard used

About Tyko Ni-Cu-PGE Project
The Tyko Ni-Cu-PGE Project, is located approximately 65 kilometers northeast of Marathon Ontario, Canada. Tyko is an early stage, high sulphide tenor, nickel focused project with the most recent drill hole intercepts returning up to 9.9% Ni_Eq over 3.8 meters (8.1% Ni, 2.9% Cu, 1.3g/t PGE) in hole TK-20-023.

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

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

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

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

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

This press release includes “forward-looking information” that is subject to a few assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company’s common shares on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions and general business conditions. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company’s annual information form dated April 29, 2020 and filed under the Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update forward?looking statements or forward?looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

Palladium One Begins 2,000-Meter Phase II Drilling and Outlines EM Conductors at Smoke Lake High-Grade Sulphide Nickel Zone of the Tyko Project in Ontario

 

Toronto, Ontario–(Newsfile Corp. – April 6, 2021) –  A 2,000-meter Phase II drilling program at the high-grade Smoke Lake nickel discovery, which returned up to 9.9% Ni_Eq over 3.8 meters from surface (see press release January 19, 2021), on the Tyko Sulphide-Nickel-Copper project in Ontario, Canada, has started, said Palladium One Mining Inc. (TSXV: PDM) (FSE: 7N11) (OTCQB: NKORF) (“Palladium One” or the “Company”) today. In advance of drilling, in February 2021, detailed ground based Electromagnetic (“EM”) and Borehole Electromagnetic (“BHEM”) surveys were conducted to better define the conductors hosting the high-grade nickel mineralization.

EM and BHEM surveys conducted at Smoke Lake outlined two conductors, the deeper one was intersected by a single drill hole returning 6.3% Ni_Eq over 0.9 meters (see press release January 19, 2021) during the December 2020 drill program. This lower conductor extends beyond the EM survey grid to the northwest, where it remains open for extension.

“Given the very encouraging results at Smoke Lake, we have commissioned a 3,000-line kilometer, high-resolution airborne, Versatile Time-Domain Electromagnetic (VTEM™ Max) survey covering the entire Tyko Nickel-Copper Project, which includes the Bulldozer mafic-ultramafic Intrusion, the objective of which is the discovery of additional EM anomalies such as the Smoke Lake anomaly. The survey is expected to be flown in May 2021,” said Derrick Weyrauch, President and CEO.

“In addition to the work conducted at Smoke Lake in Q1 2021, the Company also completed a short reconnaissance drill program of 1,233 meters in 5 drill holes and both EM and BHEM surveys on its Disraeli PGE-Ni-Cu project, located in Ontario, Canada and within the prolific mid-continental rift.”

“Significant cobalt bearing magnetite skarn mineralization was intersected. Notably, down hole geophysics outlined an off-hole conductor at the basement contact that may represent a mafic-ultramafic feeder system to the Disraeli Intrusion, which requires follow up,” said Weyrauch.

Highlights

• A 2,000-meter Phase II drilling program on the Smoke Lake high-grade sulphide nickel discovery at the Tyko Sulphide Nickel Project has started.
• Ground based and borehole EM surveys have outlined two significant conductors at Smoke Lake, one of which extends beyond the survey area, where it remains open for extension.
• High-resolution drone based magnetic survey data suggests a larger magnetic body occurs at depth, below and to the northeast of the Smoke Lake discovery.
• 3,000-line kilometer airborne VTEM™ Max survey scheduled to be flown in May 2021 over the entire Tyko Sulphide-Nickel-Copper project.
• Disraeli project drilling intersects cobalt bearing magnetite skarn mineralization.

Tyko Phase II Drilling Program and EM Surveys, Ontario, Canada

A 2,000-meter Phase II drilling program at the high-grade sulphide-nickel discovery of Smoke Lake has started. From surface, the Smoke Lake zone returned 9.9% Ni Eq over 3.8 meters (8.13 % Ni, 2.88% Cu, 0.11% Co, 0.61 g/t Pd, 0.71 g/t Pt and 0.02 g/t Au), (see news release January 19, 2021). This Phase II program is designed to infill and expand the high-grade sulphide-nickel mineralization. The program is expected to continue until the start of spring weather conditions.

In February 2021, high-resolution ground-based and borehole EM surveys were conducted at Smoke Lake. This second ground-based survey was undertaken to supplement the initial reconnaissance survey conducted in October 2020 (see press release December 7, 2020) . The February 2021 survey provided excellent data and allowed the modeling of two conductive plates (Figure 1) which closely match the drilling results to date (Figure 1 and 2). These plates consist of smaller highly conductive near surface plate and a larger less conductive but more expansive plate. The most significant result from this survey is that the lower most conductor continues off the survey grid area, to the northwest where it remains open for expansion.

In addition to the EM surveys, the Company commission an inversion of the high-resolution drone based magnetic survey which was flown in 2020 (see press release December 7, 2020). The inversion model shows a large southwest plunging body at depth, below the Smoke Lake zone. The Smoke Lake zone is associated with a strong magnetic high at surface and an elevated magnetic response at depth (Figure 3). This deep magnetic body may represent mafic-ultramafic rocks associated with the Smoke Lake nickel mineralization, and is a high priority target.

The Company has contracted to fly a 3,000-line kilometer high resolution (100-meter line spacing) airborne EM and magnetic survey using the VTEM™ Max system. The Tyko project encompasses 200 square kilometers, the vast majority of which has seen little to no exploration or even government regional mapping. The western portion of the project has been the subject of several historic airborne EM surveys, using the technology of that time (Figure 4.), however the eastern portion is only partially covered by a 1980’s Noranda survey.

Notably it was the old 1980’s survey that detected the Smoke Lake EM anomaly at the very end of one of the flight lines (Figure 4). There is very limited airborne EM coverage surrounding the high-grade Smoke Lake nickel discovery, and absolutely no survey coverage to the south. This “terra incognita” is highly prospective for additional massive nickel sulphide discoveries, as it also hosts the Company’s Shabotik showing which has returned up to 1.0 % nickel in grab samples (see press release August 19, 2019).

Table 1: Tyko 2020 Drill Results from the Smoke Lake Discovery

Hole	From (m)	To (m)	Width (m)	Ni_Eq %	Ni_Eq lbs/t	Ni %	Cu %	Co %	PGE g/t (Pd+Pt+Au)	Pd g/t	Pt g/t	Au g/t
TK-20-015	30.0	32.4	2.3	4.78	105	3.90	1.41	0.05	0.84	0.48	0.35	0.01
Inc.	31.4	32.4	1.0	8.04	177	7.26	0.85	0.09	1.05	0.57	0.48	0.01
TK-20-016	29.0	32.8	3.8	8.74	193	6.65	3.70	0.09	1.51	0.67	0.81	0.03
Inc.	29.8	32.5	2.7	9.80	216	7.47	4.16	0.10	1.64	0.74	0.87	0.03
Inc.	29.8	30.3	0.5	10.05	221	8.20	3.08	0.10	1.50	0.88	0.58	0.04
TK-20-017	28.1	32.3	4.2	1.71	38	1.17	0.99	0.02	0.32	0.18	0.14	0.01
Inc.	29.0	31.1	2.1	3.08	68	2.14	1.75	0.03	0.58	0.32	0.25	0.01
Inc.	29.9	30.5	0.6	5.20	115	3.88	2.34	0.05	0.98	0.52	0.45	0.02
TK-20-018	36.6	37.6	1.0	1.34	30	0.95	0.54	0.02	0.52	0.30	0.21	0.01
TK-20-019	28.7	30.4	1.7	5.87	129	3.89	3.90	0.06	0.94	0.45	0.48	0.02
Inc.	29.5	30.4	0.8	8.71	192	6.17	4.73	0.09	1.59	0.79	0.78	0.02
TK-20-020	32.1	38.7	6.6	0.92	20	0.65	0.45	0.01	0.20	0.09	0.11	0.00
Inc.	32.1	34.1	2.0	1.86	41	1.29	1.07	0.02	0.37	0.18	0.19	0.01
TK-20-021	47.8	49.6	1.8	3.91	86	2.75	1.79	0.09	0.97	0.38	0.58	0.02
Inc.	47.8	49.0	1.2	5.38	119	3.76	2.49	0.13	1.31	0.50	0.79	0.03
TK-20-022	46.8	51.0	4.2	7.46	164	5.83	2.74	0.09	1.28	0.56	0.70	0.01
Inc.	48.5	50.6	2.1	8.78	193	7.26	2.34	0.12	1.30	0.48	0.81	0.01
TK-20-023	5.3	12.8	7.5	6.07	134	4.49	2.86	0.06	1.01	0.44	0.55	0.02
Inc.	8.9	12.8	3.8	9.87	218	8.13	2.88	0.11	1.33	0.61	0.71	0.02
Inc.	8.9	10.5	1.6	11.05	244	9.80	1.67	0.13	1.27	0.54	0.72	0.01
Inc.	9.5	10.0	0.5	11.21	247	10.30	0.80	0.15	1.25	0.50	0.74	0.02
TK-20-024	109.0	109.9	0.9	6.27	138	5.42	0.96	0.07	1.40	0.71	0.68	0.01
Inc.	109.0	109.6	0.6	7.85	173	7.01	0.63	0.09	1.80	0.93	0.86	0.01
TK-20-025	36.6	39.8	3.2	6.32	139	4.43	3.63	0.07	0.87	0.43	0.41	0.02
Inc.	36.6	38.8	2.2	8.72	192	6.15	4.94	0.10	1.19	0.60	0.56	0.03
Inc.	37.2	37.8	0.6	11.82	261	9.65	3.69	0.13	1.48	0.94	0.53	0.01
TK-20-026	49.5	56.5	7.1	0.47	10	0.26	0.39	0.01	0.12	0.04	0.06	0.03
Inc.	52.7	53.3	0.6	1.32	29	0.48	1.72	0.02	0.25	0.09	0.15	0.01
TK-20-027	15.8	29.5	13.7	0.25	5	0.16	0.15	0.00	0.05	0.02	0.03	0.00
Inc.	18.8	21.7	2.9	0.67	15	0.48	0.29	0.01	0.19	0.08	0.11	0.00

 
(1) Reported widths are “drilled widths” not true widths.
(2) Shaded results are previously released, see press release January 5, 2020, January 12, 2021, January 19, 2021

Figure 1. Smoke Lake location map showing new EM plates with 2020 drill holes overlain on first vertical magnetics.

 

Figure 2. Cross Section of the Smoke Lake zone showing 2020 drill holes. (see news release January 12, 2021)

 

Figure 3. Isometric view of the Smoke Lake zone area looking north-northwest showing 2020 drill holes and inverted drone based high-resolution magnetic isoshells.

 

Figure 4. Tyko Project showing total field magnetics and mineralized zones (yellow triangles). Fight lines (in black) for 1980’s Noranda survey are shown to illustrate how it detected the Smoke Lake EM anomaly at the very end of a line.

Disraeli PGE-Ni-Cu Project Drilling and EM Surveys, Ontario, Canada

In January 2021, the Company constructed a 2-kilometre ice road and then drilled 5 ice-based holes totalling 1,233 meters to test several airborne EM conductors and a reversely polarized magnetic body under Hook bay of Disraeli Lake (see news release December 9, 2020). One conductor was found to be caused by massive magnetite copper-cobalt-nickel Skarn, while several of the airborne EM conductors proved to be the result of lake sediments. (Figure 5), (Table 2). The reversely polarized magnetic body requires additional follow up as it was not adequately explained, it may be the result of a reversely polarized granophyric sill located below the Disraeli Intrusion and/or a magnetite skarn.

Borehole EM surveys were conducted on all holes drilled and were hindered by very high background conductivity, which may be the result of saline brines in the Sibley Formation sediments. Of particular note was an off-hole EM conductor identified at the Sibley – Quetico (metasedimentary basement rocks) contact (Figure 6). Unseasonably warm conditions in early March resulted in deterioration of the ice road, cutting the drill program short and thus this target was not able to be tested. This target remains a priority target.

The copper-cobalt-nickel magnetite skarn is of particular interest as it is enriched in cobalt (Table 2). The mineralization intersected in the recent program is very similar to skarn mineralization intersected 1.5 kilometers to the south in holes U17-01 and U17-02 by a previous operator. These holes intersected up to 0.13 % cobalt over 2.0 meters and 0.16 % cobalt over 0.45 meters respectively.

This cobalt bearing skarn-style mineralization has now been intersected by 4 holes on the Disraeli project indicating it is much more widespread that previously thought. The mineralization is hosted in the carbonate-rich (dolomite) Rossport unit of the Sibley Formation, mostly likely representing replacement of stromatolitic beds within the sediments. It consists of massive to stringer magnetite with 10-20% sulphides consisting of pyrite, pyrrhotite, and chalcopyrite (Figure 7).This skarn mineralization is indicative of widespread hydrothermal alteration associated with either the Disraeli intrusion or another unknown mafic-ultramafic intrusion at depth. Additional, copper mineralization is known to occur in the greater Disraeli Lake area as chalcocite and malachite hosted in stromatolites with the Sibley sediments, grab samples collected by the Ministry of Northern development in 2011 returned up to 1.57% Cu (Mineral Deposit Index MDI52H02NW00002) from this style of mineralization. All of this indicates a significant magmatic hydrothermal system was present in the Disraeli Lake area, and suggests thicker and higher-grade areas of cobalt skarn mineralization are yet to be discovered.

Table 2: Disraeli Significant Drill Hole Intersections

Operator	Hole	From (m)	To (m)	Width (m)	Cu %	Co %	Ni %
Ursa Major	U17-01	133.50	138.95	5.45	0.12	0.07	0.05
	Inc.	136.00	138.00	2.00	0.11	0.13	0.06
Ursa Major	U17-02	114.95	119.97	5.02	0.14	0.07	0.07
	Inc.	116.93	117.38	0.45	0.13	0.16	0.12
Palladium One	DL21-001	No Significant Intersections
Palladium One	DL21-002	127.10	129.73	2.63	0.12	0.05	0.09
Palladium One	DL21-003	No Significant Intersections
Palladium One	DL21-004	No Significant Intersections
Palladium One	DL21-005	127.65	129.90	2.25	0.04	0.03	0.00

 
* Reported widths are “drilled widths” not true widths.
** Orange shaded values are historic previously released results (see Ursa Major Inc. press release June 2, 2011)

 

Figure 5. Disraeli drill hole location map, background is total field magnetics.

 

Figure 6. Disraeli Project Isometric view looking north-northwest, showing the location of holes DL21-002, 003 and 005 along with down Hole EM plates and VOXI inverted strongly magnetic body.

 

Figure 7. Cu-Co-Ni mineralized massive magnetite skarn mineralization form hole DL21-002.

*Nickel Equivalent (“Ni_Eq”)
Nickel equivalent is calculated using US$1,100 per ounce for palladium, US$950 per ounce for platinum, US$1,300 per ounce for gold, US$6,614 per tonne (US$3.00 per pound) for copper, US$15,432 per tonne (US$7.00 per pound) for nickel and US$30,865 per tonne (US$14 per pound) for Cobalt. This calculation is consistent with the commodity prices used in the Company’s September 2019 NI 43-101 Kaukua resource estimate.

QA/QC

The Phase I drilling program was carried out under the supervision of Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company.

Drill core samples were split using a rock saw by Company staff, with half retained in the core box. The drill core samples were transported by company staff the Company’s core handling facility, to Actlabs laboratory in Thunder Bay, Ontario. Actlabs, is an accredited lab and are ISO compliant (ISO 9001:2015, ISO/IEC 17025:2017). PGE analysis was performed using a 30 grams fire assay with an ICP-MS or ICP-OES finish. Multi-element analyses, including copper and nickel were analysed by four acid digestion using 0.5 grams with an ICP-MS or ICP-OES finish.

Certified standards, blanks and crushed duplicates are placed in the sample stream at a rate of one QA/QC sample per 10 core samples. Results are analyzed for acceptance at the time of import. All standards associated with the results in this press release were determined to be acceptable within the defined limits of the standard used

About Tyko Ni-Cu-PGE Project
The Tyko Ni-Cu-PGE Project, is located approximately 65 kilometers northeast of Marathon Ontario, Canada. Tyko is an early stage, high sulphide tenor, nickel focused project with the most recent drill hole intercepts returning up to 9.9% Ni_Eq over 3.8 meters (8.1% Ni, 2.9% Cu, 1.3g/t PGE) in hole TK-20-023.

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

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

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

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

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

This press release includes “forward-looking information” that is subject to a few assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company’s common shares on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions and general business conditions. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company’s annual information form dated April 29, 2020 and filed under the Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update forward?looking statements or forward?looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

Ely Gold Royalties Announces Acquisition Of Tonopah West Patented Mining Claims, Nevada

 

Beneficial Three-Way Property Land Exchange Agreement

Vancouver, British Columbia, April 6, 2021 – Ely Gold Royalties Inc. (TSX-V: ELY, OTCQX: ELYGF) (“Ely Gold” or the “Company” is pleased to announce that through its wholly owned subsidiary, Nevada Select Royalty Inc, it has entered into a Property Exchange Agreement (the “Agreement”) with Blackrock Silver (TSX-V BRC) (“Blackrock”) and a group of private landowners who have surface use rights on certain of the lands within Blackrock’s Tonopah West project located in the Walker Lane trend in Nevada.

Under the Agreement, Ely Gold will acquire three patented mining claims consisting of 35.411 acres (14.3 hectares) located centrally within the Tonopah West property and contiguous to the mining claims on which Blackrock is currently drilling (figure #1). In exchange for the three patented claims, the landowners will gain Surface Rights to 100 feet (30.48 metres) below the surface on 48.94 acres (19.8 hectares), and Blackrock will retain the Mineral Estate below 100 feet.

The newly acquired patented mining claims will be subject to the Blackrock Gold Corp. Option Agreement dated February 24, 2020, wherein Blackrock is acquiring a 100% interest in the Tonopah West Project lands. The Agreement is expected to close on or before April 30, 2021.

Trey Wasser, President and CEO of Ely Gold commented; “Ely Gold is very pleased to be able to accommodate both the landowners and Blackrock to great effect. Blackrock is rapidly advancing the Tonopah West Project and they expect to be drilling underground in the near future; this new Agreement will provide the opportunity for further development while having no material impact on the project at surface. This unique Agreement between the parties is another excellent example of Ely’s ability to successfully bring parties together in Nevada.”

Qualified Person

Stephen Kenwood, P. Geo, is director of the Company and a Qualified Person as defined by NI 43-101. Mr. Kenwood has reviewed and approved the technical information in this press release.

About Ely Gold Royalties Inc.

Ely Gold Royalties Inc. is a Nevada focused gold royalty company. Its current portfolio includes royalties at Jerritt Canyon, Goldstrike and Marigold, three of Nevada’s largest gold mines, as well as the Fenelon mine in Quebec, operated by Wallbridge Mining. The Company continues to actively seek opportunities to purchase producing or near-term producing royalties. Ely Gold also generates development royalties through property sales on projects that are located at or near producing mines. Management believes that due to the Company’s ability to locate and purchase third-party royalties, its strategy of organically creating royalties and its gold focus, Ely Gold offers shareholders a favorable leverage to gold prices and low-cost access to long-term gold royalties in safe mining jurisdictions.

On Behalf of the Board of Directors
Signed “Trey Wasser”
Trey Wasser, President & CEO

For further information, please contact:

Trey Wasser, President & CEO
trey@elygoldinc.com

972-803-3087

Joanne Jobin, Investor Relations Officer
jjobin@elygoldinc.com

647-964-0292

FORWARD-LOOKING CAUTIONS: This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, including, but not limited to, statements regarding completion of the Transaction. Forwardlooking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the Company’s inability to control whether the buy-down right will ever be exercised, and whether the right of first refusal will ever be triggered, uncertainty as to whether any mining will occur on the property covered by the Probe Royalty such that the Company will receive any payment therefrom, and the general risks and uncertainties relating to the mineral exploration, development and production business. The reader is urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effect.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Source: Ely Gold Royalties

Monday, April 05, 2021

Golden Predator Mining (NTGSF)(GPY:CA)
Moving Right Along

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.

License renewal applications. During the first quarter, Golden Predator submitted renewal applications for its water use and quartz mining licenses associated with its Brewery Creek Mine. The licenses expire December 31, 2021 and the company seeks renewal for an additional 10 years under the existing terms. In support of the renewal applications, the company intends to submit a project plan description early in the third quarter of 2021 for assessment by the Yukon Environmental and Economic Board.


Bankable feasibility study.  A bankable feasibility study, expected to be completed early in the third quarter of 2021, is being completed by Kappes Cassiday & Associates and will include a multi-year mine plan for Brewery Creek. In addition to an inventory of material on the heap to be re-processed and a plan to resume mining of material from leachable resources, it will also include an analysis of …

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.