Great Bear Doubles Vertical Extent of LP Fault, Intersects High-Grade Gold at
942.20 m Downhole: 15.57 g/t Gold Over 3.05 m

 

March 29, 2021 – Vancouver, British Columbia,
Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today reported results from its ongoing fully funded $45 million 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.

Expansion of the LP
Fault

• Deep drilling has doubled the
  drill-confirmed vertical extent of the LP Fault gold zone, which begins at bedrock surface, to approximately 800 vertical metres.  The area of ongoing grid drilling extends along 4 kilometres of strike length.  Figure 1 and Figure 2.
• Three new 400 – 450 metre step-down holes drilled along 500
  metres of strike length all successfully intersected the continuation
  of the LP Fault host rocks and gold mineralization at depths of 700 – 820
  vertical metres.
• Gold grades and mineralized
  zone thickness were better at depth on two of three tested drill sections.
• Initial deep drilling tested below the most weakly
  mineralized segment of the LP Fault, formerly referred to as the “Gap” zone (February 13, 2020).
• Large scale step-out drilling at depth,
  including below areas
  of high-grade gold mineralization, will continue throughout 2021.

High-Grade Gold in the First Deep LP Fault
Drill Holes

• High-grade gold was intersected at depth in two of the three deep drill holes, with better grades and thickness than previously observed in the near surface.  All three deep drill holes contained multiple intervals of gold mineralization.  Table 1 and Table 2.
• BR-260 is the deepest LP Fault drill hole to date.  It assayed 15.57
  g/t gold over 3.05 metres from 942.20 to 945.25 metres, within a broader interval of 1.08
  g/t gold over 70.25 metres from 906.15 to 976.40 metres.  Figure
  3 and Figure
  4.
• While high-grade intervals are the primary drill targets at these depths, the dual high-grade and bulk-tonnage character of the
  LP Fault gold zone remains strongly developed at depth.
• Oriented core data collected from these initial deep holes will assist with determining controls to higher grade panels within the broad envelope of gold mineralization. 

Great Bear has now published results from 270 LP Fault drill holes and anticipates at least
130 additional LP Fault drill holes will be completed by the end of 2021, for a total of at
least 400 drill holes.

Chris Taylor, President and CEO of Great Bear said, “We drilled below the most weakly mineralized segment of the LP Fault with our first deep holes, and discovered better gold mineralization at depth.  After 270 drill holes we have yet to find the limits of the LP Fault’s gold mineralization.  Mesothermal gold systems of this type, particularly in the Red Lake area, can extend vertically over kilometres.  We are currently working with in-house and external modelers to finalize 2021 drill plans, and will provide guidance over the coming weeks on expected timing of delivery of initial estimates of mineral resources.”

Figure 1 (Top): Long section of the LP Fault zone showing the locations and depths of the new deep drill holes (labeled).
Figure 2 (Bottom) : Map of current drill results showing the location of the new deep drill holes.

 

 

Table 1: Drill holes released to date on section 21450 showing increased gold mineralization grades and widths with increasing depth in the former “Gap” zone.  See news releases of April 9, 2020 and May 4, 2020 for previously reported drill holes.
New results
from BR-260 in italics.

* Widths are drill indicated core length, as insufficient drilling has been undertaken to determine true widths at this time.  Average grades are calculated with un-capped gold assays, as insufficient drilling has been completed to determine capping levels for higher grade gold intercepts.  Interval widths are calculated using a 0.10 g/t gold cut-off grade with up to 3 m of internal dilution of zero grade. 

Table 2: New drill results from the first three deep holes into the LP Fault system along 500 metres of strike length in the “Gap” area.

* Widths are drill indicated core length, as insufficient drilling has been undertaken to determine true widths at this time.  Average grades are calculated with un-capped gold assays, as insufficient drilling has been completed to determine capping levels for higher grade gold intercepts.  Interval widths are calculated using a 0.10 g/t gold cut-off grade with up to 3 m of internal dilution of zero grade. 

Figure 3: Section 21450 showing BR-260, the deepest drill hole in the LP Fault to date.  This section is located in what was formerly referred to as the “Gap” zone.

 

 

Figure 4:  The deepest drill hole in the LP Fault to date.  73.10 g/t gold over 0.60 metres at 942.20 metres down hole in BR-260 (790 metres vertical depth).  The shear-zone hosted disseminated high-grade gold with sparse accessory sulphides within a felsic volcanic host matches mineralization at shallower depths within the LP Fault.  Image is of a selected interval and is not representative of all gold mineralization on the property.

 

 

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.

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

 

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 statements and information include, but are not
limited to, statements in respect of the proposed Offering including the
proposed use of proceeds, the closing date of the Offering, receipt of
regulatory and stock exchange approvals, the timing of future drilling,
exploration and budgets.

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

Bunker Hill Announces 3.8 Meters at 997 Ag Eq g/t Drill Intercept, Ten Channel Samples Above 900 Ag Eq g/t Including 0.6 Meters at 3,003 Ag Eq

 

Bunker Hill Announces 3.8 Meters at 997 Ag Eq g/t Drill Intercept, Ten Channel Samples Above 900 Ag Eq g/t Including 0.6 Meters at 3,003 Ag Eq

Bunker Hill to Host a Webinar on Wednesday, March 31 @ 8:00am PT/11:00am ET

HIGHLIGHTS:

• Ten
  separate high-grade silver mineralization results greater than 900 g/t
  AgEq ¹ , each with minimum 0.6m length, identified through targeted
  chip-channel sampling in newly accessible part of 9-level Deadwood vein
• Best
  selected chip sample includes 0.6m at 1,100 g/t Ag and 60% Pb,
  representing 3,002.6 g/t AgEq ¹
• Mineralization
  remains open up dip, down dip and along strike from the sampling location
  
• Follow-up
  diamond drilling is planned to test the extent of the Deadwood vein and
  nearby Jersey vein
• High-grade
  silver, lead and zinc mineralization, including 3.8m at 197 g/t Ag, 21.2%
  Pb and 2.7% Zn, representing 996.6 g/t AgEq ¹ , intersected at
  down-dip extension of the UTZ zone at the 5-level
• Executive
  Chairman Richard Williams, CEO Sam Ash, and CFO David Wiens to host live
  interactive 6ix virtual investor event on Wednesday, March 31st at 11:00AM
  ET / 8:00AM PT to discuss these results, ongoing silver exploration and
  other near-term catalysts. Investors are invited to register for this
  event at: LINK

TORONTO, March 29, 2021 (GLOBE NEWSWIRE) — Bunker Hill Mining Corp. (CSE: BNKR) (“Bunker Hill” or the “Company”) is pleased to report multiple high-grade silver mineralization results as part of its ongoing silver-focused drilling program, and through chip-channel sampling of newly accessible areas of the Bunker Hill Mine identified through the Company’s proprietary 3D digitization program.

Sam Ash, CEO of Bunker Hill, stated: “Having completed the drilling campaign designed to support the mine restart plan and associated PEA, we have now shifted our drilling and sampling focus to high-grade silver exploration in order to bring more silver into our upper mine resources and future mine planning.

Today’s results confirm high grade silver mineralization in two distinct areas of the upper mine close to existing infrastructure. Firstly, we have confirmed the silver potential of the Deadwood vein through ten separate high-grade channel samples. Secondly, our systematic targeting methodology allowed us to confirm the presence of high-grade silver mineralization on the 5-level through drilling, within an area where no historical mining was conducted. Both of these areas, along with others, will be followed up and developed over the coming weeks.”

Channel Sampling at the
9-Level Results in Ten Separate High-Grade Silver Mineralization Results

As a result of the digitization of the historic mine data and underground reconnaissance, an area was identified on the 9-level with access to the Deadwood vein: a shallow dipping galena-quartz (“GQ”) silver-lead vein that was mined until mine closure. The vein is exposed in the footwall rib of an historic stope over roughly 35 feet horizontally, with the thickness of mineralized exposure ranging from roughly 1 to 2 meters. Chip samples were collected from 10 vertical channels on the footwall rib designed to approximately crosscut the strike of the vein. See Figure 1 showing the sample distribution and resulting grades.

Digitization and reconnaissance efforts indicate that silver-lead mineralization from the Deadwood vein remains open to testing up-dip, down dip and along strike to the west. Follow up diamond drilling is planned to test the extent of the Deadwood vein and nearby Jersey vein, another historically mined GQ silver-lead vein on the 9 Level of the mine.

______________________________
¹ Prices used to calculate Ag Eq are as follows: Zn=$1.16/lb; Pb=$0.92/lb; and Ag=$20/oz.

Figure 1: 090-23-21 Deadwood
Vein Stope – Floor 4 Footwall Rib Channel Samples
https://www.globenewswire.com/NewsRoom/AttachmentNg/6e30b1cd-59c5-4713-95c4-84a9328e8c8a

Channel sample assays results are presented in the Table 1 below.

TABLE 1: CHANNEL SAMPLE ASSAYS

Channel		From	To	M	AgEq g/t	g/t Ag	%Pb	%Zn
1		0	0.9	0.9	317.5	56.8	8.2	0
		0.9	2.1	1.2	135.1	4	4.1	0
Channel		From	To	M	AgEq g/t	g/t Ag	%Pb	%Zn
2		0	1.2	1.2	1156.7	497	20.9	0
		1.2	2.4	1.2	69.4	4.4	2.1	0
Channel		From	To	M	AgEq g/t	g/t Ag	%Pb	%Zn
3		0	0.6	0.6	1022.2	312	22.5	0
		0.6	1.2	0.6	1618.9	940	21.5	0
		1.2	1.8	0.6	161.2	21.6	4.4	0
Channel		From	To	M	AgEq g/t	g/t Ag	%Pb	%Zn
4		0	1.2	1.2	955	336	19.6	0
Channel		From	To	M	AgEq g/t	g/t Ag	%Pb	%Zn
5		0	1.2	1.2	412.4	96	10	0
		1.2	2.1	0.9	1199.6	549	20.6	0
Channel		From	To	M	AgEq g/t	g/t Ag	%Pb	%Zn
6		0	0.9	0.9	1228.7	581	20.5	0
		0.9	1.8	0.9	1054.2	377	21.4	0.1
Channel		From	To	M	AgEq g/t	g/t Ag	%Pb	%Zn
7		0	1.2	1.2	737	206	16.8	0
		1.2	2.1	0.9	901	288	19.4	0
Channel		From	To	M	AgEq g/t	g/t Ag	%Pb	%Zn
8		0	0.9	0.9	49.2	2.5	1.4	0.1
		0.9	1.8	0.9	975.1	343	20	0
Channel		From	To	M	AgEq g/t	g/t Ag	%Pb	%Zn
9		0	0.6	0.6	85.7	17.3	2.2	0
		0.6	1.2	0.6	3002.6	1100	60.3	0
Channel		From	To	M	AgEq g/t	g/t Ag	%Pb	%Zn
10		0	0.6	0.6	21.3	2.6	0.6	0
		0.6	1.5	0.9	40.1	20.3	0.6	0

(Reported widths are actual
sampled interval lengths and do not state the true width of the mineralized
structure. Samples were taken in a manner to reflect, as closely as possible,
true structural width. Prices used to calculate AgEq are as follows: Zn=$1.16/lb;
Pb=$0.92/lb; and Ag=$20/oz.)

Drilling at the 5-Level
Results in Nearly 4-Meter Intercept at Approximately 1,000 g/t AgEq

Concurrently, drilling from the 5-level UTZ intersected high-grade silver-lead-zinc mineralization below the UTZ fingers zone, as part of exploring for near-surface silver targets. The Company is excited to report a 3.8m intercept with a grade of 996.6 g/t AgEq, as indicated in Table 2 below. Intercepted mineralization in hole 7069 (see Figure 2 below showing cross-section and Figure 3 below showing drill core) lies near existing rehabilitated infrastructure, providing low-cost access to the zone for mining under Bunker Hill’s Phase 1 program of the Rapid Restart Plan. Follow up drilling will explore the extent of the mineralization and increase the understanding of the geology in the area.

The drill results in the table below represent the most recent assay data available since the Company’s news release dated February 26, 2021; the Company will continue to report mineralized drill intercepts concurrent with its ongoing exploration program that is currently envisaged to comprise 10,000 to 12,000 feet in 2021.

TABLE 2: HIGH-GRADE SILVER
INTERCEPT FROM HOLE 7069

 

(Reported widths are
intercepted ore lengths and not true widths, as relationships with intercepted
structures and contacts vary. Prices used to calculate AgEq are as follows:
Zn=$1.16/lb, Pb=$0.92/lb, Ag=$20/oz.)

Figure 2: Cross section of
hole 7069
https://www.globenewswire.com/NewsRoom/AttachmentNg/11b3bb0c-606c-478d-ab42-22e391a9ecb8

Figure 3: Drill Core from
hole 7069
https://www.globenewswire.com/NewsRoom/AttachmentNg/057e8c21-a292-4690-aef4-4209f48e9b08

The preliminary economic assessment (“PEA”), aimed at assessing the mine’s rapid restart potential, remains on track to be published in early Q2 2021.

WEBINAR

Bunker Hill will host a
webinar to discuss the Company’s recent results and future exploration plans.
The webinar will take place on Wednesday, March 31 at 8:00 am PT/11:00am
EST. Management will be available to answer questions following the
presentation.

To join the webinar,
register from this link (also includes dial-in instructions):
Link: UPCOMING EVENTS

Adelaide Capital Idaho Conference
April 8, 2021 @ 12:00pm ET – 4:00pm ET
Join Us: REGISTER NOW

World Gold Forum
April 13-15, 2021
https://www.worldgoldforum.com/

HC Wainwright Mining Conference

April 19-20, 2021
Join Us: REGISTER NOW

121 Mining Investment Americas
April 27-29, 2021
https://www.weare121.com/121mininginvestment-new-york/

TECHNICAL INFORMATION

Chip-channel samples were collected by hand using hammer and chisel perpendicularly across exposed mineralized structures to best represent the true width and nature of the material present. Sample collar locations were surveyed using modern survey techniques to provide positioning of each sample in three-dimensional space. Bunker Hill followed standard quality assurance/quality control (“QA/QC”) practices to ensure the integrity of samples through collection, preparation and delivery of samples to the lab. All sample locations have been photographed, with channel traces spray painted to indicate the location and orientation of each sample. Standards of certified reference materials, field duplicates and blanks were inserted as samples shipped with the chip samples to the lab.

The diamond drilling program used HQ-size core. Bunker Hill followed standard QA/QC practices to ensure the integrity of the core and sample preparation through delivery of the samples to the assay lab. The drill core was stored in a secure facility, photographed, logged, split into halves and sampled based on lithologic and mineralogical interpretations. Standards of certified reference materials, field duplicates and blanks were inserted as samples shipped with the core samples to the lab.

American Analytical Services (“AAS”) was used to provide analytical services and all results comply with both National Instrument 43-101 – Standards of Disclosure for
Mineral Projects (“NI 43-101”) and industry standards. AAS holds an industry standard ISO 17025:2005 accreditation, specifying general requirements for laboratory performance. AAS is independent from Bunker Hill.

QUALIFIED PERSON

Mr. Scott E. Wilson, CPG, President of Resource Development Associates Inc. and a consultant to the Company, is an independent qualified person as defined by NI 43-101 and is acting as the qualified person for the Company. He has reviewed and approved the technical information summarized in this news release.

ABOUT BUNKER HILL MINING CORP.

Under new Idaho-based leadership, Bunker Hill Mining Corp. intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating a portfolio of North American precious-metal assets with a focus on silver. Information about the Company is available on its website, www.bunkerhillmining.com, or under the Company’s profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

For additional information contact:

Sam Ash, President and Chief Executive Officer
+1 208 786 6999
sa@bunkerhillmining.com

CAUTIONARY STATEMENTS

Certain statements in this news
release are forward-looking and involve a number of risks and uncertainties.
Such forward-looking statements are within the meaning of that term in Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, as well as within the meaning of
the phrase ‘forward-looking information’ in the Canadian Securities
Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations.
Forward-looking statements are not comprised of historical facts.
Forward-looking statements include estimates and statements that describe the
Company’s future plans, objectives or goals, including words to the effect that
the Company or management expects a stated condition or result to occur.
Forward-looking statements may be identified by terminology such as “may”,
“will”, “could”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”,
“estimate”, “projects”, “predict”, “potential”, “continue” or other similar
expressions concerning matters that are not historical facts.

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 the Company,
the Company 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. The key risks and uncertainties
include, but are not limited to: local and global political and economic
conditions; governmental and regulatory requirements and actions by
governmental authorities, including changes in government policy, government
ownership requirements, changes in environmental, tax and other laws or
regulations and the interpretation thereof; developments with respect to the
coronavirus disease 2019 (“COVID-19”) pandemic, including the duration,
severity and scope of the pandemic and potential impacts on mining operations;
and other risk factors detailed from time to time in the Company’s reports
filed on SEDAR and EDGAR.

Forward-looking information
and statements in this news release include statements concerning, among other things:
the Company’s intention to conduct follow up drilling to test the extent of the
Deadwood vein and nearby Jersey vein; the Company’s intention to conduct follow
up drilling from the 5-level of the mine to explore the extent of the
mineralization and increase the understanding of the geology in the area; the
timing for publishing the PEA aimed at assessing the mine’s rapid restart
potential; and the Company’s intentions regarding its objectives, goals or
future plans and statements. Factors that could cause actual results to differ
materially from such forward-looking information include, but are not limited
to: the ability to predict and counteract 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, restriction on labor
and international travel and supply chains; 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, environmental or other
project approvals; political risks; changes in equity markets; uncertainties
relating to the availability and costs of financing needed in the future; the
inability of the Company to budget and manage its liquidity in light of the
failure to obtain additional financing, including the ability of the Company to
complete the payments pursuant to the terms of the agreement to acquire the
Bunker Hill Mine Complex; inflation; changes in exchange rates; fluctuations in
commodity prices; delays in the development of projects; capital, operating and
reclamation costs varying significantly from estimates and the other risks
involved in the mineral exploration and development industry; and those risks
set out in the Company’s public documents filed on SEDAR and EDGAR. Although
the Company 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. The Company 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. No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein.

Source: Bunker Hill Mining

 

Supply and Demand Fundamentals for Platinum and Palladium

 

What are Platinum Group Metals?

Platinum group metals include platinum, palladium, rhodium, ruthenium, osmium, and iridium. Efforts to reduce carbon-dioxide emissions are boosting demand for platinum group metals, including palladium and platinum, for use in autocatalysts. In 2020, platinum and palladium futures prices rose 11.1% and 28.4% to finish the year at $1,079.50 and $2,455.50 per ounce, respectively. Year-to-date through March 26, 2021, platinum futures prices increased 10.3% to $1,191.10 per ounce, while palladium futures prices increased 9.1% to $2,680.00 per ounce. Notably, palladium is experiencing a multi-year supply deficit. Palladium is mined primarily in Russia and South Africa and mostly extracted as a by-product from mining other metals, including platinum and nickel. Platinum’s share of the autocatalyst market has fallen over the last fifteen years due to the adoption of palladium-rhodium catalysts in most cars that use gasoline and a move away from diesel automobiles that use platinum. However, given the price differential, some switching may occur, although car manufacturers seem more focused on advancing electric vehicles than making changes to a catalytic converter’s cost. Most realize that such a switch is just likely to result in higher platinum prices, and the burdens of making the change may not be worth the cost savings.

Supply and Demand Fundamentals

Johnson Matthey, a global leader in sustainable technologies and the largest fabricator and recycler of platinum group metals, publishes a monthly supply and demand outlook for platinum group metals. The company recently formed a strategic partnership with Sibanye-Stillwater, a leading precious metals mining company, to identify and develop solutions to propel decarbonization and the more efficient use of critical metals such as platinum group metals and metals used in battery technology. The partnership is expected to support the development of technologies for new products and markets to underpin sustainable supply chains for a low carbon future, including hydrogen production and fuel cells.

Johnson Matthey expects supply and demand for platinum group metals to recover towards pre-pandemic levels during 2021, assuming COVID-19 disruption eases. With respect to demand, automotive platinum group metals demand is expected to increase 13%, reflecting a strong recovery in light vehicle production and the implementation of China VI legislation enforcing the use of platinum group metal catalysts on heavy-duty diesel trucks. Furthermore, industrial demand is expected to remain strong, with chemical manufacturers expected to reach record levels. Johnson Matthey expects the palladium and rhodium markets to remain in deficit, while the market balance for platinum may hinge on jewelry and investment demand. Additionally, platinum’s discount to gold may spur greater demand, along with greater use in gasoline autocatalysts and fuel cells.

The table below illustrates the supply and demand for platinum and palladium for the years 2018 through 2020.

 

 

What is evident from the table is that both metals are in supply deficit and that demand for palladium as a material for autocatalysts materially exceeds total supply. End-use markets are still largely dependent on supplies from South Africa and Russia for supplies, although for manufacturers of emissions control equipment, palladium supplies are more readily available from North American sources than platinum. Given the expected growth in demand and the long lead time for bringing new supply to the market, prices could remain strong for the foreseeable future.

Electric Vehicles Represent a Threat?

The evolution to carbon-free vehicles will likely take some time and investors should expect twists and turns when it comes to predicting the winning technology. For now, it seems that internal combustion engine vehicles may be with us for a while, along with hybrid vehicles, and both use palladium and platinum. Battery technology is making rapid advances, although the materials used in those batteries are likely to continue to evolve. What does seem likely is that due to the expected growth in demand for platinum group metals juxtaposed against limited sources of supply, pricing appears durable for the foreseeable future.

While metals associated with batteries for electric vehicles do not include palladium or platinum, demand for platinum could benefit from advancements in fuel cell technology. An interesting article in the Wall Street Journal raised the question of whether hydrogen fuel cells could become more mainstream as a low carbon power source for vehicles. Hydrogen fuel cell technology uses platinum, given its ability to withstand higher temperatures than other metals. According to the article, a fuel cell needs platinum for the catalyst that separates hydrogen into protons and electrons, which then generate the electrical current, making it an alternative to battery-powered vehicles. Of course, much like materials used for batteries, fuel cell companies will seek to hit on a combination of materials that optimize performance and lower cost, which may result in efforts to either reduce or eliminate the use of platinum in favor of lower-cost or more widely available materials. 

 

 

Take-Away

The supply and demand fundamentals for platinum group elements remain quite attractive. Large and high-grade deposits are becoming more difficult to find, particularly in favorable mining jurisdictions. As a result, new sources of palladium supply are needed to meet demand and help achieve stricter air quality standards.  Thinking more broadly, the long-term outlook for platinum group metals, along with battery metals such as cobalt, copper, lithium, and nickel demand remains favorable due to increasingly more stringent emissions standards and expected usage associated with the move toward electrification and clean energy technologies, including electric vehicles, solar power, and fuel cells.

More to Discover on Channelchek:

Interview with Palladium One Mining CEO Derrick Weyrauch	How Does Uranium Fit Into the ESG Energy Landscape?

Digging Deeper Into Gold Investments – Understanding Royalty Companies	Can Mining be Green and Sustainable?

Sources:

Johnson
Matthey and Sibanye-Stillwater form a Strategic Partnership to Secure Critical
Metals and Accelerate New Technologies for a Low Carbon Future, Press Release, Johnson Matthey, March 19, 2021.

Pgm
Market Report, Johnson Matthey, Alison Cowley et al., February 2021

Fuel
Cell Technology Lets Platinum Miners Shine Again, The Wall Street Journal, Alexandra Wexler, March 25, 2021.

For
Hydrogen Fuel Cells, Mundane Materials Might be Almost as Good as Pricey
Platinum, Princeton University, Office of Engineering Communications, Jen A. Miller, June 17, 2019.

New
Catalyst Resolves Hydrogen Fuel Cell Cost, Longevity Issues, The Source, Washington University in St. Louis, December 3, 2020.

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Friday, March 26, 2021

Allegiant Gold

Allegiant Gold Ltd (AUXXF)(AUAU:CA)
Virtual Road Show Take-Aways

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.

Virtual roadshow presentation. Mr. Peter Gianulis, CEO, made a presentation and participated in a virtual roadshow. Replays will be available shortly on www.channelchek.com. Management believes that its flagship Eastside project represents a large gold resource in different pit areas that could potentially reach 2 to 5 million gold ounces. Near-term goals include proving up a resource of 1.5 to 2.0 million gold ounces within the next 12 months and then make decisions on how to expand those resources.


Drilling program.  In September 2020, the company commenced a 15,000-meter drilling program to test additional targets, expand resources at the Castle Zone in the southern part of the project area, and increase resources in the original pit zone in the northern portion of the project area, which hosts a current mineral resource. By year-end 2020, Allegiant drilled roughly 6,000 meters in the …

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. 

Comstock Announces 2021 Annual Meeting of Shareholders and Record Date

 

Virginia City, NV (March 25, 2021) – Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) announces that the 2021 Annual Meeting of Shareholders is scheduled for Thursday, June 3, 2021, at the historic Gold Hill Hotel in Gold Hill, Nevada. The meeting will begin at 9:00 a.m. Pacific Time and will include an update on the Company’s corporate portfolio, geological developments and clean energy technologies.

The 2021 Annual Meeting schedule for June 3, 2021, is as follows:

8:00 am – 9:00 am   Continental Breakfast
9:00 am – 12:00 pm  2021 Annual Shareholders Meeting, Company Presentations, Q & A
12:00pm – 1:00 pm   Lunch will be served at the Gold Hill Hotel following the meeting
1:00 pm – 4:00 pm   Portfolio Investment Showcases (Comstock, LiNiCo, MCU & Sierra Springs)

For the convenience of Shareholders, they may view the Annual Meeting live via a webcast. The link for the webcast will be included in shareholder materials as well as posted on our website in the investors section.

Due to COVID-19 guidelines set by the State of Nevada and Storey County, seating is limited for Shareholders and is based on a first-come, first-served basis by registering at the Company website:
https://www.comstockmining.com/investors/asm2021/

The record date for the Annual Meeting is April 6, 2021. Only shareholders of record at the close of business on April 6, 2021, may vote at the meeting. The Company’s proxy statement will be sent to shareholders of record and will describe the matters to be voted upon.

About Comstock Mining Inc.

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

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

Contact information

Comstock Mining Inc.
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, March 25, 2021

Chakana Copper Corp (CHKKF)(PERU:CA)
Drilling at Huancarama Reveals Second High-Grade Discovery

Noble Capital Markets research on Chakana Copper Corp is published under ticker symbols CHKKF and PERU:CA. The price target is in USD and based on ticker symbol CHKKF. 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.

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.

High-grade breccia pipe discovery at Huancarama. Chakana Copper announced the discovery of a second high-grade breccia pipe within the Huancarama Breccia Complex at the Soledad Project in Peru. The new high-grade breccia pipe (Huancarama West) is only 75 meters west of the previously announced Huancarama East discovery. To date, a total of 33 diamond core holes have been completed within the Huancarama Breccia Complex to delineate the boundaries of the breccia pipes.


Drill results highlight near-surface mineralization potential.  The company released results for six drill holes at Huancarama West and three drill holes at Huancarama East. Five of the six drill holes at Huancarama West intersected mineralized breccia starting at depths ranging from 2.75 to 4.0 meters with significant gold and silver intercepts. The three holes at Huancarama East confirmed that the …

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. 

Chakana Discovers Second High-Grade Breccia Pipe within Huancarama – Soledad Project, Peru

 

Intersects 11m of 6.29 g/t Au and 92.8 g/t Ag (7.66 g/t Au-eq) 14m
below surface

Vancouver, B.C., March 24, 2021 – Chakana Copper Corp. (TSX-V:
PERU; OTCQB: CHKKF; FRA: 1ZX) (the “Company” or “Chakana“), is pleased to announce the discovery of a second high-grade breccia pipe within the Huancarama Breccia Complex at the Soledad Project in Ancash, Peru (Table 1, Fig. 1). This new high-grade breccia pipe (Huancarama West) is located approximately 75m west of the previously announced Huancarama East discovery (see news releases starting January 12, 2021). To date, a total of thirty-three HQ diamond core holes have been completed within the Huancarama Breccia Complex to delineate the boundaries of the breccia pipes.

David Kelley, President and CEO commented, “The discovery of a second
high-grade tourmaline breccia pipe within the Huancarama Breccia Complex is an
exciting development for the project. The drill rig was set up 50m north of the
H5 breccia in an area with andesitic tuff exposed at surface. High-grade gold
and silver mineralization was encountered about 3m below surface, demonstrating
the significant potential of near-surface mineralization at Soledad. The
precious metal-rich nature of the mineralization may be related to oxidation
but also primary zonation. Often breccias at Soledad become strongly
mineralized at depth with copper in addition to precious metals.”

Huancarama West New Discovery
Table 1. Mineralized intervals from the new discovery at Huancarama West include:

DDH #	From – To (m)		Core Length (m)	Au g/t	Ag g/t	Cu %	Cu-eq %*	Au-eq g/t*
SDH21-170	No Significant Results
SDH21-171	3.00	45.00	42.00	0.84	26.8	0.03		1.24
including	33.00	42.00	9.00	1.76	108.0	0.09		3.31
and	54.00	57.00	3.00	0.79	7.14	0.01		0.90
SDH21-172	3.60	59.00	55.40	1.64	54.2	0.20		2.65
including	26.00	51.00	25.00	2.49	110.2	0.42	2.99	4.57
SDH21-173	4.00	111.00	107.00	0.46	17.7	0.06		0.78
SDH21-174	3.10	25.70	22.60	3.93	48.3	0.06		4.65
including	14.00	25.00	11.00	6.29	92.8	0.10		7.66
and	43.20	52.00	8.80	1.56	136.1	0.51	2.69	4.12
SDH21-175	2.75	15.80	13.05	5.47	45.5	0.03		6.11

* 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).

Six holes were drilled on the western side of the breccia complex to test for mineralization associated with the H4 and H5 breccias exposed at surface (Fig. 2). Holes SDH21-171 to SDH21-175 were drilled from a platform on the northwest side of the complex. No breccia is exposed at surface in this area, instead andesitic tuff with sericite alteration is exposed concealing the underlying breccia. All five holes intersected mineralized breccia starting at depths ranging from 2.75 to 4.0m depth below surface (Fig. 3). The breccia is partially oxidized to depths of 30m below surface. Significant mineralized intercepts were encountered, including 55.4m with 1.64 g/t Au and 54.2 g/t Ag (2.65 g/t Au-eq) starting at 3.6m, and 22.6m with 3.93 g/t Au and 48.3 g/t Ag (4.65 g/t Au-eq) starting at 3.1m below surface. Copper is low within the intervals reported due to oxidation and primary zoning within the breccia pipe. Examples of mineralized drill core from these holes are shown in Figure 5.

Huancarama East
Three additional drill holes from Huancarama East are also reported (Table 2). All three holes were designed to test the upper central part of the breccia pipe from the north side and drilled to the south-southeast (Fig. 2). The holes intersected volcanic host rock before entering mineralized tourmaline breccia (Figs. 2 and 4). Volcanic rock separates the H1 and H2 breccias that crop out at surface. Beneath the volcanic rock the two breccia bodies coalesce at depth, forming a larger breccia body with approximate dimensions of 100m x 65m and persisting to a depth of 290m below surface (see news release dated March 3, 2021). Holes SDH21-167 and SDH21-169 exited the breccia pipe on the south-southeast side. SDH21-168 was stopped prematurely in mineralized breccia at 105.1m depth due to proximity to open underground workings. The highest-grade interval occurs in SDH21-169 with 29.55m of 0.34 g/t Au, 0.80% Cu, and 87.3 g/t Ag (1.77% Cu-eq) starting at 84.45m down hole, including 7.55m with 0.98 g/t Au, 2.17% Cu, and 269.6 g/t Ag (5.12% Cu-eq). Examples of mineralized drill core from these holes are shown in Figure 5.

“These drill holes were successful in confirming the contact
between the overlying volcanic host rock and the underlying mineralized breccia
around the collapse zone. The breccia is closer to surface than previously
thought with depths ranging from 20-28m below surface, adding additional volume
to the breccia body. Infill drilling is currently underway at Paloma East and
Huancarama East. We look forward to reporting additional exploration results
from our fully-funded 26,000m drill program soon,” Kelley added.

Table 2. Mineralized intervals from three additional holes at Huancarama East include:

DDH #	From     –    To (m)		Core Length (m)	Au g/t	Ag g/t	Cu %	Cu-eq %*	Au-eq g/t*
SDH21-167	71.45	137.80	66.35	0.20	24.7	0.39	0.73	1.12
SDH21-168	79.00	105.10	26.10	0.39	16.2	0.50	0.89	1.37
SDH21-169	84.45	115.30	30.85	0.33	84.4	.77	1.77	2.70
including	84.45	92.00	7.55	0.98	269.6	2.17	5.12	7.82

* 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).

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. 6). 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 and fully funded 2021 drill program of 26,000m. Combined with the drilling in 2020 that started last August, a total of approximately 32,000m is anticipated through 2021. Of this, 8,094m have been reported in 43 drill holes for the Paloma and Huancarama areas. 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 will be integral to the publication of a maiden resource in 2021.

About Chakana Copper
Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the 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 42,728 metres of drilling has been completed to date, testing ten (10) of twenty-three (23) confirmed breccia pipes. The exploration team has identified 110 targets in total on the project, confirming that Soledad is a large, well-endowed mineral system with strong exploration upside. 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 at 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.

Full release with images can be viewed at www.chakanacopper.com

SOURCE: Chakana Copper

Comstock Announces Participation in Adelaide Capital Charity Battery Metals Pitch Battle

 

Virginia City, NV (March 23, 2021) – Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) announced today that Mr. Corrado De Gasperis, its CEO, will participate in Adelaide Capital’s Battery Metals Pitch Battle on March 25th from 4:15 to 5:30 pm ET.
 

Please register here if you would like to attend: Adelaide Capital Battery Metals Pitch Battle. The webinar will also be live streamed on YouTube for those who are unable to access Zoom: YouTube Live Stream. A replay will be made available after the event on Adelaide Capital’s YouTube channel. 

The Pitch Battle is a charitable event in support of the Leukemia & Lymphoma Society of Canada.
 

“There are so many types of Leukemia and Lymphoma and they all impair lives.  We are proud to support real efforts for curing this illness and improving lives for the families so drastically impacted,” stated Comstock’s Executive Chairman and CEO, Corrado De Gasperis. “We are also In It To Win In, for such a great cause and we are sincerely honored to participate. If you are able to donate, please click on the link here: https://bit.ly/3r93cut and please note that the link will not be active until March 25th.”
 

About Comstock Mining
Inc. Comstock Mining Inc. 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 and gold extraction facilities.  Additional information on Comstock is available online at 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 impacts of land entitlements and uses; future permitting activities and needs therefor; future production capacity and operations; future operating and overhead costs; future capital expenditures and their impact on us; future impacts of operational and management changes (including changes in the board of directors); future changes in business strategies, planning and tactics and impacts of recent or future changes; future employment and contributions of personnel, including consultants; future land sales, investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives; the nature and timing of and accounting for restructuring charges and derivative liabilities and the impact thereof; contingencies; future environmental compliance and changes in the regulatory environment; future offerings of equity or debt securities; asset sales and associated costs; future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, earnings and growth. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: counterparty risks; capital markets’ valuation and pricing risks; adverse effects of climate changes or natural disasters; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mining activities; contests over title to properties; potential dilution to our stockholders from our stock issuances and recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting businesses; permitting constraints or delays; decisions regarding business opportunities that may be presented to, or pursued by, us or others; the impact of, or the non-performance by parties under agreements relating to, acquisitions, joint ventures, strategic alliances, business combinations, asset sales, leases, options and investments to which we may be party; changes in the United States or other monetary or fiscal policies or regulations; interruptions in production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, cyanide, water, diesel fuel and electricity); changes in generally accepted accounting principles; adverse effects of terrorism and geopolitical events; potential inability to implement business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors or others; assertion of claims, lawsuits and proceedings; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the SEC; potential inability to list our securities on any securities exchange or market; inability to maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund or any other issuer.

Contact information

Comstock Mining Inc.
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.

Wednesday, March 24, 2021

Newrange Gold (NRGOF)(NRG:CA)
A Multi-Million Ounce Gold Resource in the Making at Pamlico?

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.

IP geophysical survey. Newrange Gold announced the completion and interpretation of an expanded Induced Polarization (IP) geophysical survey on the Pamlico Project in Nevada. The survey comprised 56.35-line kilometers, bringing the total, including the 2019-2020 survey, to more than 76.5-line kilometers, covering the entire property. The new IP survey has been successful in further defining and extending known anomalies and identifying others that had not been previously recognized.


Pamlico project area enlarged with additional claim stakes.  Three large areas of anomalous chargeability were detected, all of which intruded on the property boundary such that the company has staked additional ground, more than doubling the size of the property. The Northwest, East, and Southeast Areas, are two to three kilometers in size with each containing more than one discrete zone of high …

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, March 24, 2021

Comstock Mining (LODE)
First Mercury Remediation System is Up and Running in the Philippines

Comstock Mining Inc. is an emerging innovator and leader in the sustainable extraction, valorization, and production of scarce natural resources, with a focus on high value strategic materials that are essential to meeting the rapidly increasing global demand for clean energy, carbon-neutrality, and natural products.

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.

First mercury remediation system operational in the Philippines. Comstock’s Clean Mercury Remediation Technologies (CMRT) joint venture with Mercury Clean Up LLC put the first commercial mercury remediation system into operation last week in Davao D’ Oro, Philippines. The unit has been deployed to recover and safely dispose of mercury from the Naboc River, along with recovering gold. According to Comstock management, the Head of the Philippine Department of Environment and Natural Resources (DENR), the country’s leading environmental regulator, stated that the Naboc River clean-up, if successful, could serve as a blueprint for treating other mercury contaminated areas in the country.


A significant growth opportunity.  The mercury remediation system, operating at up to 150 tons per hour, is the first of several planned in the region. Each system, well-suited for remote deployment, remediates mercury while extracting by-products, including gold, cleaned sand, soil and gravel for commercial use. The company plans to deploy another system this year and several additional systems …

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. 

Allegiant Gold Announces Participation in Noble Capital Markets Virtual Road Show Series

 

RENO, NV, March 23 2021 – Allegiant Gold Ltd. (AUAU: TSX-V) (AUXXF: OTCQX) today announced their participation in Noble Capital Markets’ Virtual Road Show Series, presented by Channelchek, scheduled for March 25, 2021.

The virtual road show will feature a corporate presentation from Allegiant President & CEO Peter Gianulis, followed by a Q & A session proctored by Noble Senior Research Analyst Mark Reichman, featuring questions submitted by the audience.

The live broadcast of the virtual road show is scheduled for March 25, 2021, at 1 PM EDT. Registration is free and open to all investors, at any level. Register Here (https://register.gotowebinar.com/register/6363353590282427918)

Noble’s research, as well as news and advanced market data on Allegiant is available on Channelchek.

About Allegiant

Allegiant owns 100% of 10 highly-prospective gold projects in the United States, 7 of which are located in the mining-friendly jurisdiction of Nevada. Four of Allegiant’s projects are farmed-out, providing for cost reductions and cash-flow. Allegiant’s flagship, district-scale Eastside project hosts a large and expanding gold resource and is located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.

About Noble Capital Markets

Noble Capital Markets, Inc. was incorporated in 1984 as a full-service SEC / FINRA registered broker-dealer, dedicated exclusively to serving underfollowed small / microcap companies through investment banking, wealth management, trading & execution, and equity research activities. Over the past 36 years, Noble has raised billions of dollars for these companies and published more than 45,000 equity research reports. www.noblecapitalmarkets.com email: contact@noblecapitalmarkets.com

About Channelchek

Channelchek (.com) is a comprehensive investor-centric portal – featuring more than 6,000 emerging growth companies – that provides advanced market data, independent research, balanced news, video webcasts, exclusive c-suite interviews, and access to virtual road shows. The site is available to the public at every level without cost or obligation. Research on Channelchek is provided by Noble Capital Markets, Inc., an SEC / FINRA registered broker-dealer since 1984. channelchek.vercel.app email: contact@channelchek.vercel.app

ON BEHALF OF THE BOARD
Peter Gianulis
CEO

For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364

ir@allegiantgold.com

Source: Allegiant Gold

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

Comstock and MCU Commence Philippine Mercury Remediation Operations;
First International Remediation and Extraction Facility is Now in Production

 

Virginia City, NV (March 23, 2021) – Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) and Mercury Clean Up LLC (“MCU”), announced today that all of the site construction and mercury system set up and testing was completed in their Clean Mercury Remediation Technologies (“CMRT”) joint venture earlier this month with the system going operational last week. This represents the first commercial mercury remediation system in the province of Davao D’ Oro, Philippines, and the foundation for adding additional remediation systems into this unprecedented, eco-system-wide mercury remediation effort in the Philippines and leading achievement for the U.N’s Minamata Convention, the international treaty designed to protect human health and the environment from emissions and releases of mercury and mercury compounds. The international agreement strives to reduce mercury pollution from targeted activities, particularly artisanal and small-scale gold mining, responsible for the major release of mercury to the immediate environment.

Photo accompanying this announcement is available at https://www.comstockmining.com/press-releases/comstock-and-mcu-commence-philippine-mercury-remediation-operations/

“There is a real joy about being back into production, especially when our production cleans, remediates, and restores the environment back into its natural state.” stated Comstock’s Executive Chairman and CEO, Corrado DeGasperis. “This is the first of multiple systems MCU is dedicating to clean up this entire eco-system, not only reviving the 24-kilometer river, but the downstream irrigations, agriculture and communities it previously served. The social impact is incalculable and represents the baseline for mining-related contaminations across the entire country. The Country’s leading environmental regulator stated that the success of this cleanup will set the standard for the rest of country.”

Artisanal and Small-Scale Gold Mining (ASGM) Dilemma

Mercury?dependent ASGM uses a process known as amalgamation to dissolve gold from natural deposits. The amalgam is then typically isolated by hand and then heated to distill the mercury and isolate the gold. Problematically, mercury is hazardous to human health and the environment, where residual ASGM wastes contaminate water and soil and ultimately bioaccumulate into food chains. Mercury risks to children are particularly acute, with mercury emissions from ASGM disabling both physical and mental development. The process was regulated into near extinction by most countries, but upwards of 20 million people still use mercury to mine for gold in more than 70 countries, making mercury pollution from ASGM a U.N. prioritized global issue through the Minamata Convention. The Philippine Naboc River has long been a channel for effluents of mining activities in the area, as evidenced by the high levels of mercury and total suspended solids, according to the Philippine Department of Environment and Natural Resources (DENR), with hundreds of previous processing activities operating on Mt. Diwata without proper tailing ponds, releasing with their toxic, mercury-laden discharges into the Naboc River.

Proprietary Remediation and Extraction Process

The MCU mercury remediation system is the first of several planned by MCU, Comstock and CMRT in the region. Each system is mobile and specifically designed for remote deployment, to remediate mercury from existing amalgamation wastes while extracting residual by-products, including gold, cleaned sand, soil and gravel for commercial use. The mercury wastes are disposed in a safe and compliant manner, thereby repairing and enhancing local ecosystems, while the extracted gold and cleaned by-products provide multiple high-margin revenue streams.

“Each patent-pending core remediation system is expected to produce positive cash flow within just a few months of start-up, with fast full returns on capital deployed, typically in less than 18 months, depending on processing rates and the various by-products extracted from environment,” continued Mr. DeGasperis. “Our plan involves deploying another system this year and several additional systems thereafter, now that the first one is up and running, as we look toward expanding the social impact across the entire district and sustained, positive cash flow growth.”

About Comstock Mining Inc.

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

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

Contact information

Comstock Mining Inc.
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.

What’s the Timeline for a U.S. Digital Currency?

 

Investment opportunities related to the adoption of a U.S. digital currency will undoubtedly change fortunes. But will we ever adopt crypto and are we even close? Actions by the Federal Reserve taken last year and a crescendo of recent statements from top officials suggests that it’s in the works. So the question is “When?” “In what form” and “Who stands to benefit from a Fedcoin?”

Central Bank
Digital Currencies (CBDC) Exploratory Phase

The Federal Reserve Bank of Boston has been collaborating with MIT on what they call the Digital Currency Initiative. They have been exploring together the use of existing and new technologies to build and test a digital currency platform. This includes assessing technology trade-offs, building a hypothetical CBDC, building scalable architecture, a cryptographic platform able to meet the needs of a digital U.S. dollar, speed, security, privacy, and flexibility. Separate from its collaboration with MIT the Boston Fed is evaluating other systems to better comprehend the pros and cons of the U.S. banking system supporting a CBDC.

In a panel discussion yesterday for the Bank of International Settlements (March 22, 2021), Fed Chair Powell exposed some of the Fed’s current thinking. He indicated that when it came to a CBDC, the U.S. has “an obligation to be on the cutting edge of understanding the technological challenges.” He also made clear that any expected benefits of a digital dollar wouldn’t rush the project and that the Fed wouldn’t proceed without support from Congress, preferably in the form of legislation.

The Federal Reserve Bank of Boston, Senior Vice President James Cunha who serves as a spokesman for this project has said the Boston Fed and MIT hope to unveil some of their work in the third quarter of 2021. This includes at least two prototype software platforms that could move, store, and settle transactions made with digital dollars. He did not say if either platform uses the blockchain technology that underlies other cryptocurrencies such as Bitcoin or Ethereum. Once the prototypes are released, Cunha said, others will be able to look at what was built and experiment with the open-source code.

The Fed’s work is intended to show what’s possible without taking a position on the major issues that are out of the purview of the Boston Fed.  The issues he says fall under the direction of Congress, the Treasury, and the Federal Reserve Bank. These include whether the Fed itself should host customer accounts, whether anonymity should be permitted, and what protections users would have in case of a cyber-breach or mistaken transaction. Any policy debate and exploration are separate issues. Discovering what can and can’t be done along with the weaknesses and strengths is the role of the Boston Fed; what to do with that information falls on others.

Around
the World

It’s difficult to have a discussion about any major issue of commerce without looking around the world and seeing what U.S. competitors are up to. The most aggressive mover on the CBDC front is China. The CCP is moving fast to develop its own digital currency, the digital Yuan. At the current pace, the Chinese CBDC will be in use at the 2022 Beijing Olympics.  This alone may force some worldwide use of their digital currency.

For its part, the European Central Bank had this to say, “We have not yet decided whether to issue a digital euro. We are currently in a preparation phase: we’re developing the concept, conducting practical experimentation, listening to the views of the broader public and engaging with stakeholders.” There doesn’t seem to be any urgency in the exploration or adoption of a digital Euro, “We will decide whether to launch a digital euro project towards the middle of 2021, in order to be prepared for the possible issuance of a digital euro at some point in the future,” they said.

 In February 2020, the Central Bank of Brazil (BCB) launched its own official payment network, Pix, which allows instant money transfer and QR code scanning. This digital payment method had its soft launch in November 2020. Brazil has scheduled mass adoption of Pix for this year. 

Washington View

The exploratory push of digital currency technology should not be confused with a push to adopt cashless dollars or other current cryptocurrencies. During the same BIS meeting on March 22, US Fed Chair Powell also had this to say about Bitcoin and other traded cryptocurrencies,” “They’re more of an asset for speculation, so they’re not particularly in use as a means of payment. It’s more a speculative asset. It’s essentially a substitute for gold rather than for the dollar.” So he believes that the current state of non-central bank digital currencies is that they are a gold substitute, not a dollar substitute. Gold is a speculative asset against inflation, civil unrest, and other issues of sovereign risk.

For her part, the former Fed Chair and current Treasury Secretary Janet Yellen spoke a month earlier and had this to say about digital currencies, “To the extent it is used, I fear it’s often for illicit finance. It’s an extremely inefficient way of conducting transactions, and the amount of energy that’s consumed in processing those transactions is staggering.”

It would seem clear from both of these statements that they lean away from any currently traded digital currencies.

Impact of Industries

The Fed and other central banks around the world are giving a lot of attention to digital currencies. China seems intent on developing a standard and introducing a digital Yuan early along with some required use. Brazil has already begun its digital payment system, and companies like Facebook that are financially stronger than many countries have plans of introducing their own crypto to the world. This level of disruption is sure to impact industries. There is no ability to clearly see the future, but assuming in the not-so-distant future many of the world’s transactions take place with a digital currency, these are the impacted industries.

Within financial services, facilitating payments is highly profitable for banks; international transactions generate billions in revenue for financial companies. Digital payments could allow a secure and cheap way of sending payments that cut down on the need for verification from third parties and beat the processing times of current bank transfers. The various cryptocurrencies themselves not tied to a central bank could be the most severe victims. Could it be the current speculative favorites whither? Although when the U.S. went off the gold standard, gold still maintained value, the value of various speculative currencies may quickly be undermined by an official “Fedcoin.” The winners could be blockchain companies and others that adopt the technology for non-currency applications. This could include the travel industry, crowdfunding where it helps with cybersecurity risks, and ridesharing could benefit from a less centralized dispatch system. Trucking could be helped by the technology now most thought of for cryptocurrency tracking — there are currently 500 members of BiTA, the blockchain transportation alliance.  Aerospace and defense companies are working with blockchain technology that has the potential to streamline parts inventory and authentication. Real estate and title issues can be improved with the ledger systems of blockchain to improve efficiency and accuracy.

More directly, a central bank digital currency could make consumers’ everyday transactions easier which by itself is stimulative. Money growth comes from the increased velocity of money. Certainly, an increased ability to transact digitally could be very stimulative throughout the economy.

 

Suggested Reading:

Cryptocurrency Gaining Bank’s Acceptance

Backed by the Full Faith and Credit of Blockchain

Is the Small Firm Effect for Microcaps Real?

Small Cap Names in a Big Crypto Market

 

 

Sources:

 https://www.coindesk.com/video/the-boston-feds-jim-cunha-cbdcs-are-here-and-theyre-real

https://www.ecb.europa.eu/euro/digital_euro/html/index.en.html

https://www.bcb.gov.br/htms/public/inovtec/Currency-in-the-Digital-Era.pdf

https://www.cbinsights.com/research/industries-disrupted-blockchain/#government

https://www.theguardian.com/business/2018/nov/19/why-central-bank-digital-currencies-will-destroy-bitcoin