Chakana Copper Extends Huancarama Mineralization 290m Below Surface – Soledad Project, Peru

 

Vancouver, B.C., March 3, 2021 – Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FRA: 1ZX) (the “Company” or “Chakana”), is pleased to release results for two additional drill holes from the Huancarama Breccia Complex, within the Soledad Project in Ancash, Peru (Fig. 1). One hole (SDH20-165) was designed to test beneath the exposed H4 breccia, and a second hole (SDH20-166) was designed to explore a deeper extent of the Huancarama East breccia discovery (see figure 2, and news releases dated January 12, 25, and February 9, 2021). Since initiating drilling at Huancarama in late October 2020, thirty HQ diamond core holes have been completed.

Mineralized intervals from two additional holes at Huancarama include:

* Cu_eq and Au_eq values were calculated using copper, gold, and silver. Metal prices utilized for the calculations are Cu – US$2.90/lb, Au – US$1,300/oz, and Ag – US$17/oz. No adjustments were made for recovery as the project is an early-stage exploration project and metallurgical data to allow for estimation of recoveries are not yet available. The formulas utilized to calculate equivalent values are Cu-eq (%) = Cu% + (Au g/t * 0.6556) + (Ag g/t * 0.00857) and Au-eq (g/t) = Au g/t + (Cu% * 1.5296) + (Ag g/t * 0.01307).

Both drill holes intercepted high-grade intervals (Figs. 2 and 3). Hole SDH20-165 was set up southeast of the H4 surface breccia and drilled to the northwest encountering a high-grade breccia interval of 0.27 g/t Au, 1.63% Cu, and 305.0 g/t Ag (4.41% Cu-eq) over 6.5m starting at 79m depth. This intercept is believed to be related to the H4 breccia exposed at surface and is interpreted to be a breccia dike, related to a larger, adjacent breccia body. Breccia dikes adjacent to larger breccia pipes are a common feature of the breccia pipes at Soledad.

Hole SDH20-166 was set up on the east side of the main Huancarama East breccia pipe and drilled steeply across the pipe in a west-northwest direction. This hole entered the main breccia body at 107.2m down hole (102m below surface) and exited the breccia pipe on the northwest side at 308.2m depth (290m below surface). A continuous mineralized interval of 175.6m with 0.42 g/t Au, 0.48% Cu, and 35.9 g/t Ag (1.06% Cu-eq) was encountered starting at 132.0m. Within this interval, a high-grade zone of 1.21 g/t Au, 1.35% Cu, and 95.6 g/t Ag (2.96% Cu-eq) over 29.0m starting at 132.0m depth was also encountered. Two additional breccia intercepts, also interpreted as breccia dikes related to the Huancarama East breccia pipe, were encountered at 402.7m and 483.4m depth, with the breccia pipe open at depth. Examples of mineralized drill core from these holes are shown in Figure 4.

David Kelley, President and CEO commented, “Hole SDH20-166 was successful in increasing the Huancarama East
breccia pipe to a depth of 290m below surface with mineralization open at depth. We had previously established
mineralization starting at surface and continuing to a depth of approximately 225m depth. As we have seen in the
other breccia pipe discoveries, these pipes are vertically extensive, and all are still open at depth. The high-grade
intercept of 29.0m with 1.21 g/t Au, 1.35% Cu, and 95.6 g/t Ag is particularly noteworthy as it provides additional
confirmation of the high-grade potential of this new discovery and is consistent with intercepts recently reported. It is
also encouraging to encounter high-grade mineralization in the first hole drilled around H4 on the western side of the complex. As we have seen in drilling other breccia pipes at Soledad, these high-grade intercepts are normally related
to adjacent larger mineralized breccia bodies. More drilling is warranted on the western side of Huancarama. and
drilling is ongoing at both Huancarama and Paloma with two drill rigs; we look forward to reporting additional results
soon.”

Huancarama Target Area and the Current Drill Program

The Huancarama Breccia Complex is located 300m south of and 400m above the deepest breccia intercept at Paloma. Within the complex there are five principal breccia bodies exposed at surface over approximately 200m horizontally (Fig. 5). There is a distinctive feature believed to be a collapse zone with dimensions of 50m by 30m. Unverified reports suggest that this may be due to small-scale mining. Two historic adits are in the complex, one trending north-northeast for 170m along the western side of H1 (Fig. 2), and a second shorter adit of 21m at H2. Surface sampling from the breccia bodies and channel sampling of the adits yielded strongly anomalous gold results (see news release dated November 19, 2019). In addition to several targets within the complex, numerous additional targets exist in the Huancarama and Paloma area.

Results reported here are part of the recently expanded 2021 drill program of 26,000m that is fully funded from the Company’s current treasury of $9.3M. Combined with the drilling in 2020 that started last August, a total of approximately 32,000m is anticipated through 2021. Of this, 6,634m have been reported in 34 drill holes. For the 26,000m of drilling planned in 2021, the Company will complete 16,000m of resource definition drilling, and 10,000m of exploration drilling testing new targets. This drill program and additional targets will be integral to the publication of a maiden resource in 2021.

Corporate Update

The Company announces that its second tranche of financing announced February 10, 2021 has been extended in order to facilitate the receipt of funds already committed over the next few days.

About Chakana Copper

Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the high-grade gold-copper-silver Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project consists of high-grade gold-copper-silver mineralization hosted in tourmaline breccia pipes. A total of 33,353 metres of drilling has been completed to-date, testing nine (9) of twenty-three (23) confirmed breccia pipes with more than 92 total targets. Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to several metals including copper, gold, and silver. For more information on the Soledad project, please visit the website a www.chakanacopper.com.

Sampling and Analytical Procedures

Chakana follows rigorous sampling and analytical protocols that meet or exceed industry standards. Core samples are stored in a secured area until transport in batches to the ALS facility in Callao, Lima, Peru. Sample batches include certified reference materials, blank, and duplicate samples that are then processed under the control of ALS. All samples are analyzed using the ME-MS41 (ICP technique that provides a comprehensive multi-element overview of the rock geochemistry), while gold is analyzed by AA24 and GRA22 when values exceed 10 g/t by AA24. Over limit silver, copper, lead and zinc are analyzed using the OG-46 procedure. Soil samples are analyzed by 4-acid (ME-MS61) and for gold by Fire Assay on a 30g sample (Au-ICP21).

Results of previous drilling and additional information concerning the Project, including a technical report prepared in accordance with National Instrument 43-101, are made available on Chakana’s SEDAR profile at www.sedar.com.

Qualified Person

David Kelley, an officer and a director of Chakana, and a Qualified Person as defined by NI 43-101, reviewed and approved the technical information in this news release.

ON BEHALF OF THE BOARD
(signed) “David Kelley”
David Kelley
President and CEO

For further information contact:
Joanne Jobin, Investor Relations Officer
Phone: 647 964 0292
Email: jjobin@chakanacopper.com

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

Forward-looking Statement Advisory: This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Chakana to be materially different from any future results, performance, or achievements expressed or implied by the forward looking statements. Forward looking statements or information relates to, among other things, the interpretation of the nature of the mineralization at the Soledad copper-gold-silver project (the “Project”), the potential to expand the mineralization, and to develop and grow a resource within the Project, the planning for further exploration work, the ability to de-risk the potential exploration targets, and our belief in the potential for mineralization within unexplored parts of the Project. These forward-looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward- looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

Figure 1 – View looking north showing breccia pipes and occurrences within the northern Soledad cluster. Pipes that have been drilled in previous campaigns are shown in red. Outcropping breccia pipes shown in green are the focus of the current drill campaign. Other pipes and occurrences remain to be tested by drilling. Additional breccia pipes occur on the south half of the property and are not shown here.

Figure 2 – Map of the Huancarama Breccia Complex and drill hole lithology in holes completed to date. Red shape projected to surface represents tourmaline breccia pipe based on all holes drilled to date and lithology mapped in the underground tunnel. Black dotted outlines show surface expression of mapped breccias (H1-H5); white dashed line shows collapse zone. Location of section line for Figure 3 indicated.

Figure 3 – Section looking north-northeast highlighting the drill holes at Huancarama reported in this release. Light red 3D shape shows preliminary shape of breccia based on all drill holes to date and lithology mapped in the underground tunnel.

Figure 4 – Core photos from Huancarama: SDH20-165 (83.0m) tourmaline breccia with semi-massive chalcopyrite replacement; SDH20-166 (128.43m to 136.25m) contact between feldspar porphyry (earlier) and tourmaline breccia with sections of massive sulfide replacement by chalcopyrite and pyrite. Core diameter is 6.35cm (HQ) in all instances.

Figure 5 – Drone image looking northeast at the Huancarama Breccia Complex showing the five principal tourmaline breccia bodies exposed at surface (H1-H5), historic adit portal, and drill platforms. Note drill rig in center of image.

SOURCE: Chakana Copper

Tuesday, March 02, 2021

Aurania Resources (AUIAF)(ARU:CA)
Forging Ahead; Virtual Investor Update on March 3

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

Aurania Resources Ltd. is a Canada-based junior mining exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper. Its flagship asset, The Lost Cities-Cutucu Project, is in southeastern Ecuador in the Province of Morona-Santiago. The company also has several minor projects in Switzerland.

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.

Progress at Tsenken N1. Scout drilling began in February at the Tsenken N1 target which includes a copper-silver mineralized zone exposed at surface, and an underlying area of interest that was identified in the MobileMT geophysical survey. While the drill hole has reached a depth of 500 meters, it may require a 600-meter inclined drill hole to reach the target conductor identified in the MT geophysical survey.


Looking ahead.  Drill platforms are being prepared for drilling of the Yawi, now called Kuri-Yawi, epithermal gold-silver and copper porphyry targets. Drilling will test an epithermal target and a deeper porphyry target down to 800 meters. A larger drill rig will be used for the drilling at Kuri-Yawi. Drill platforms are being sited in a 4-kilometer segment of the 15-kilometer long Tiria-Shimpia …

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. 

Tuesday, March 02, 2021

Endeavour Silver (EXK)(EDR:CA)
Full Year 2020 Net Income Above Expectations

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

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

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

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

Full year 2020 results. Endeavour reported full year 2020 net income of $1.2 million, or $0.01 per share, compared to a loss of $48.1 million, or $(0.36) per share during the prior year. We had projected a net loss $14.5 million, or $(0.10) per share. Adjusted EBITDA were $25.3 million compared to $(4.2) million during the prior year and our estimate of $22.1 million. Cash flow from operations increased to $39.0 million compared to $(9.6) million during 2019. The variance to our estimate was due mainly to the sale of inventory during the fourth quarter and a fourth quarter tax benefit. The company reduced finished goods inventory to 116,484 ounces of silver and 1,459 ounces of gold compared to 462,674 ounces of silver and 2,995 ounces of gold as of September 30.


Updating estimates.  We have increased our 2021 EPS and EBITDA estimates to $0.17 and $75.7 million, respectively, from $0.14 and $67.5 million. Our revised estimates reflect lower production and operating costs. We forecast 2022 EPS and EBITDA of $0.22 and $80.7 million, respectively …

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

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

Comstock Mining Announces a $16 Million Registered Direct Offering of Common Stock

 

VIRGINIA CITY, NV (March 2, 2021) – Comstock Mining Inc. (the “Company”) (NYSE: LODE) announced that it has entered into securities purchase agreements for the sale of 4,000,000 shares of its common stock at a price of $4.00 per share in a registered direct offering. No warrants will be issued in connection with the transaction. The closing of the offering is expected to occur on or about March 4, 2021, subject to the satisfaction of customary closing conditions.

Noble Capital Markets, Inc. is acting as the sole placement agent for the offering.

The Company intends to use the net proceeds from the offering to fund the LINICO Corporation acquisition, previously announced on February 17, 2021, investments in Mercury Clean Up LLC, mineral acquisition and development, and general corporate purposes.

The share offering will be made under the Company’s effective shelf registration statement on Form S-3 (File No. 333-229890) previously filed with the Securities and Exchange Commission (“SEC”). A prospectus supplement describing the terms of this proposed offering will be filed with the SEC. When available, electronic copies of the prospectus supplement and accompanying base prospectus may be obtained from Noble Capital Markets, Inc. at 225 N.E. Mizner Boulevard, Suite 150, Boca Raton, Fl 33431 Attn. Prospectus Department, or by telephone at 561-994-1191, or by email at info@noblecapitalmarkets.com. Before investing in this offering, interested parties should read the other documents that the company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any shares of the Company’s common stock, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus and a related prospectus supplement, which have been or will be filed with the SEC.

About Comstock Mining Inc.

Comstock Mining Inc. (NYSE: LODE) (the “Company”) is an emerging leader in sustainable mineral development and production of environment-enhancing, increasingly scarce strategic and precious metals, focused on conservation-based waste, high-value, cash-generating, mineral and metals essential to meeting the rapidly increasing demand for clean energy technologies. The Company has extensive, contiguous property in the historic, world-class Comstock and Silver City mining districts (collectively, the “Comstock District”) with fully permitted, metallurgical labs and an operational, mineral processing and beneficiation platform that includes a growing portfolio of mercury remediation, gold and silver extraction facilities. To learn more, please visit www.comstockmining.com.

Forward-Looking Statements

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

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

Contact information for

Comstock Mining Inc.
117 American Flat Rd
PO Box 1118
Virginia City, NV 89440
http://www.comstockmining.com

Corrado De Gasperis
Executive Chairman & CEO
Tel (775) 847-4755
degasperis@comstockmining.com

Zach Spencer
Director of External Relations
Tel (775) 847-5272 ext.151
questions@comstockmining.com

Source: Comstock Mining

Research coverage of Comstock Mining (LODE) on Channelchek is provided by Noble Capital Markets, Inc. Please refer to the research disclosures on the most recent LODE report for more information.

Thursday, February 25, 2021

Palladium One Mining Inc. (NKORF)(PDM:CA)
Momentum Builds in 2021

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.

Financing closed. Palladium One closed a $15 million financing that included: 1) 43.1 million units at a price of $0.29 per unit for proceeds of $12,499,000, 2) 1.5 million units issued on a flow-through (FT) basis at a price of $0.34 per unit for proceeds of $510,000, and 3) 5.0 million units issued on a charity flow-through basis at a price of $0.40 per unit for proceeds of $2,000,000. Proceeds will be used for exploration at the company’s projects in Finland and Canada. Post-offering, basic and fully diluted shares outstanding are 233 million and 278 million, respectively.


Flagship LK Project update.  In November 2020, the company began its 17,500-meter Phase II drilling program at its palladium-dominant Lantinen Koillismaa (LK) project in Finland. The company completed 7,500 meters though mid-February in the Greater Kaukua area, of which 7,000 meters focused on Kaukua South. We think the company will begin releasing assay results shortly. The drill has been moved to …

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. 

Thursday, February 25, 2021

Ely Gold Royalties (ELYGF)(ELY:CA)
Cimarron Option Agreement with Crestview Holds Promise

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

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

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

Option agreement to sell Cimarron. Ely Gold Royalties, through its Nevada Select subsidiary, executed an option agreement giving Crestview Exploration Inc. (CSE: CRS) the option to purchase the Cimarron Property located ~30 kilometers north of Tonopah, Nevada for US$200 thousand and a 2.5% smelter return (NSR) royalty.


Terms of the transaction.  In addition to the NSR, Ely Gold will receive a total of US$200 thousand in the following installments: 1) initial payment of $25,000, 2) $35,000 on the first anniversary, 3) $50,000 on the second anniversary, 4) $45,000 on the third anniversary, and 5) $45,000 on the fourth anniversary …

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

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

Wednesday, February 24, 2021

Newrange Gold (NRGOF)(NRG:CA)
Drilling Reveals New High-Grade Mineralization Near the Merritt Zone

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

Newrange Gold Corp is an exploration stage company focused on acquiring and exploring exploration and evaluation assets in Colombia and the United States. The Company operates in a single reportable operating segment-the acquisition, exploration, and development of mineral properties. Some of the projects acquired by the company are Pamlico gold project in Nevada and Rocky mountain project in Colorado. The company also holds an interest in the Yarumalito property, El Dovio property and Anori property in Colombia.

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.

Encouraging results at Pamlico. In January, Newrange released results for the remaining 19 holes that had been pending, or up to Hole P20-110, and which were associated with drilling at Gold Box Canyon, the Good Hope Mine, and the Merritt Zone. Newrange has drilled an additional 11 holes (P20-111 to P21-121) and assay results have been received for Holes P20-111 through P20-117.


High grade discovery near the Merritt Zone.  Reverse circulation (RC) drilling revealed high-grade, oxide gold mineralization approximately 85 meters east of the Merritt Zone. Hole P21-115 intersected several high-grade structures assaying up to 22.35 grams of gold per tonne over 1.5 meters enveloped by lower grade material. A follow-up drill program is being planned to determine the size and true …

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

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

Wednesday, February 24, 2021

Allegiant Gold

Allegiant Gold Ltd (AUXXF)(AUAU:CA)
Executing According to Plan

Allegiant Gold Ltd is a gold exploration company. Its project profile consists of Bolo, Browns Canyon, Clara Moro, Four Metals, Monitor Hills, Red Hills, Silver Dome, West Goldfield, White Horse Flats, Mogollon, Eastside, Dutch Flat, 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.

Near-term goals. Eastside currently has a NI 43-101 compliant inferred resource of 996 thousand gold ounces and 7.8 million silver ounces, or 1.1 million ounces of gold equivalent, with significant expansion potential. Near-term goals include: 1) expanding the permitted operating area, 2) completion of an updated mineral resource estimate to include drilling in the southern portion of the project area and in the Original Pit Zone, 3) completion of a preliminary economic assessment that may include results from additional drilling in the northern portion of the project area, and 4) advancing the project to a resource of greater than 2 million ounces of gold over the next one to two years.


Drilling begins in the Original Pit Zone.  Allegiant Gold announced that drilling has commenced in the Original Pit Zone to increase resources in the northern portion of the project area which hosts the current mineral resource. The company plans to drill approximately 10 to 13 holes totaling approximately 5,000 meters of drilling. Recall that Allegiant completed drilling in the the Castle Zone in …

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. 

Friday, February 19, 2021

Coeur Mining (CDE)
2020 Earnings Lower Than Expected: Updating Estimates

Coeur Mining Inc is a metals producer focused on mining precious minerals in the Americas. It is involved in the discovery and mining of gold and silver and generates the vast majority of revenue from the sale of these precious metals. The operating mines of the company are palmarejo, rochester, wharf, and kensington. Its projects are located in the United States, Canada and Mexico, and North America.

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.

Fourth quarter and full year 2020 financial results. Coeur reported adjusted fourth quarter and full year 2020 EPS of $0.08 and $0.24, respectively, compared to our estimates of $0.13 and $0.30. Variance to our estimates were largely due to lower revenue and higher income and mining taxes. We were looking for higher silver production and a modestly higher average realized price for gold. Coeur reported full year adjusted EBITDA of $263.4 million and generated free cash flow of $49.4 million. On a GAAP basis, fourth quarter and full year 2020 EPS were $0.05 and $0.11, respectively. Pre-adjusted 2020 EBITDA were $214.8 million.


Guidance for 2021.  Coeur expects to produce between 322,500 and 367,500 ounces of gold and between 9.7 million and 12.2 million pounds of silver. This compares to 355,678 ounces of gold and 9.7 million pounds of silver produced in 2020. We have trimmed our 2021 EPS estimate to $0.55 from $0.57 and initiated a 2022 EPS estimate of $0.60. We forecast 2021 and 2022 EBITDA of $320.1 million and $340.0 …

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

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