Palladium One Discovers 4 Meters of Massive Magmatic Sulphides, Near Surface, at Tyko

 

December 7, 2020 – Toronto, Ontario – Discovery success has been achieved with the first two drill holes of the 2020 Tyko drill program. At less than 30 meters true-depth, a 4-meter and a 2-meter wide drill intercept of massive magmatic sulphide was discovered at the Smoke Lake airborne electromagnetic (“EM”) target said Palladium One Mining (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) today.

• Ground-based EM surveys have identified two near-surface, closely spaced conductors, the largest of which has a strike length of over 300 meters.
• Hole TK-20-016 intersected 4 meters of massive magmatic sulphides from 29 to 33 meters down hole.
• Hole TK-20-015, drilled from the same drill pad, intersected 2 meters of massive magmatic sulphides from 31 to 32 meters down hole.
• Drone-based Magnetic (“Mag”) surveying has identified a strong Mag bullseye associated with soil anomalies (up to 565 ppm nickel and greater than 40 times background levels) representing the surface expression of the EM anomaly.
• The initial drill holes along with new Mag and EM surveys suggest a shallow southwest dipping massive sulphide body which plunges to the west-northwest.

President and CEO, Derrick Weyrauch commented, “We are extremely pleased with the first two holes at Smoke Lake! This is the first occurrence of massive sulphides on the Tyko project. Given disseminated sulphides produced over 1% nickel in other zones on the project, we have high expectations for this new zone and are eagerly awaiting assay results.”

These are the first drill holes to test the Smoke Lake EM anomaly (see press release January 21, 2020). The 2020 field exploration program confirmed the soil anomaly and discovered nickel-copper sulphide mineralized boulders (up to 0.41% nickel) down ice of the EM anomaly (see press release November 18, 2020). Recent high-resolution dronebased magnetic and ground-based horizontal loop EM surveys further defined the anomaly resulting in the successful discovery of massive magmatic sulphides in the current drill program.

The lithologies in the first two holes closely resemble those found at both the Tyko and RJ showings, located 17- kilometers to the west, which have returned up to 1.06% Ni and 0.35% Cu over 6.22 m including 4.71% Ni and 0.82% Cu over 0.87m in hole TK-16-010 (see press release June 8, 2016).

Figure 1. Massive magmatic sulphide intersection in hole TK-20-016. Wall rock is tonalite.

Figure 2. Closeup of massive magmatic sulphide in hole TK-20-016

Figure 3. Closeup of massive magmatic sulphide in hole TK-20-016

Figure 4. Closeup of massive magmatic sulphide in hole TK-20-015

Figure 5. Plan map of the Smoke Lake area with 1st Vertical Mag as the background showing soil samples, as well as the axial traces of the two closely spaced ground based horizontal loop EM anomalies, and 2020 drill holes.

Figure 5. Cross section of the first two drill holes of the 2020 Smoke Lake drill program

About Tyko Ni-Cu-PGE Project

The Tyko Ni-Cu-PGE Project, is located approximately 65 kilometers northeast of Marathon Ontario, Canada. Tyko is an early stage, high sulphide tenor, nickel focused project with the most recent drill hole intercepts returning up to 1.06% Ni over 6.22 m including 4.71% Ni over 0.87m in hole TK-16-010 (see press release dated June 8, 2016).

Qualified Person

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

About Palladium One

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

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

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

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

This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Palladium One Mining Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

Source: Palladium One Mining Inc.

Barksdale Commences Trading On OTCQX

 

VANCOUVER, BC / ACCESSWIRE / December 3, 2020 / Barksdale Resources Corp. (“Barksdale” or the “Company“) (TSXV:BRO)(OTCQX:BRKCF) is pleased to announce that its common shares will commence trading today on the OTCQX® Best Market in the United States under the symbol “BRKCF.” The company’s common shares will continue to trade on the TSX Venture Exchange under the symbol “BRO”.

Rick Trotman, Barksdale Chief Executive Officer stated: “Graduating to the OTCQX Best Market aligns well with our focus to both improve access and increase visibility of Barksdale to a broader base of U.S. investors. Our current and future shareholders will benefit from a larger and more effective platform.”

Barksdale Resources Corp. is a base metal exploration company headquartered in Vancouver, BC, that is focused on the acquisition, exploration and advancement of highly prospective base metal projects in North America. Barksdale is currently advancing the Sunnyside copper-zinc-lead-silver and San Antonio copper projects, both of which are in Patagonia mining district of southern Arizona, as well as the San Javier copper-gold project in central Sonora, Mexico.

ON BEHALF OF BARKSDALE RESOURCES CORP.

Rick Trotman
President, CEO and Director
Rick@barksdaleresources.com

Terri Anne Welyki
Vice President of Communications
778-238-2333

TerriAnne@barksdaleresources.com

For more information please phone 778-238-2333, email info@barksdaleresources.com or visit www.BarksdaleResources.com.

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

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes “forward-looking information” under applicable Canadian securities legislation. Such forward-looking information reflects management’s current beliefs and are based on a number of estimates and assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees, and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. In addition, there is uncertainty about the spread of COVID-19 and the impact it will have on the Company’s operations, supply chains, ability to access mineral properties, conduct due diligence or procure equipment, contractors and other personnel on a timely basis or at all and economic activity in general. All forward-looking information contained in this news release is qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking information. 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, except as required by law.

SOURCE: Barksdale Resources Corp.

 

Chakana Copper Intersects 12.2m of 5.76 g/t Au, 2.98% Cu, and 252 g/t Ag (13.61 g/t Au-Eq) from 21.6m at Paloma West, Soledad Project, Peru

 

Vancouver, B.C., December 3, 2020 – Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FRA: 1ZX) (the “Company” or “Chakana”), is pleased to release new drill results from four holes at its high-grade copper-gold-silver Paloma West discovery at the expanded Soledad Project in Ancash, Peru. These results are part of the ongoing Phase 3 drill program, a fully funded 15,000 metre drill program that started August 15, 2020. Phase 3 is testing a cluster of high-grade, gold-enriched tourmaline breccia pipe targets within the Paloma and Huancarama breccia complexes (Fig. 1). Sixteen holes have now been reported from the two Paloma targets for a total of 3,080 metres. Drilling is currently underway at Huancarama where ten holes have been completed thus far.

Mineralized intervals from these four holes at Paloma West include:

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

Summary information for results reported in this release; all holes were drilled from a platform on the southwest side of the exposed breccia pipe:

• SDH20-145 – an additional intercept further down hole is reported with 8.1m of 0.28 g/t Au, 4.06% Cu, and 53.8 g/t Ag starting at 59.9m. This interval corresponds to a sulfide-tourmaline replacement structure with abundant chalcopyrite. The mineralized breccia intercept of 7.25 g/t Au, 10.2% Cu, and 163.5 g/t Ag over 10.7m from 32.4m was previously reported (see news release dated November 18, 2020).
• SDH20-146 was drilled to determine the direction of the high-grade intercept in SDH20-145. This hole failed to intercept breccia on the west side of the breccia body.
• SDH20-147 and SDH20-148 were drilled to the northeast and east-northeast, respectively (Figs. 2-3). SDH20- 147 intersected two zones of high-grade breccia, with the first zone averaging 5.76 g/t Au, 2.98% Cu, and 252 g/t Ag over 12.2m starting at 21.6m. The second zone averages 4.00 g/t Au, 1.99% Cu, and 37.2 g/t Ag over 5m starting at 50m. SDH20-148 intersected 34.7m of 0.28 g/t Au, 0.72% Cu, and 13.9 g/t Ag from 19.3m, including 6.7m with 0.44 g/t Au, 1.94% Cu, and 48.7 g/t Ag starting at 19.3m. Further down in SDH20-148 an intercept of 11.25m averages 0.36 g/t Au, 0.56% Cu, and 15.7 g/t Ag from 65m.

Examples of mineralized drill core from these holes are shown in Figure 4.

David Kelley, President and CEO commented, “these additional results confirm the consistent high-grade nature of mineralization at Paloma West. Drilling thus far has encountered a near-surface, high-grade zone of breccia that appears to be cylindrical in shape with an approximate diameter of 35m down to 100m depth below surface. Mineralization is open at depth and we look forward to chasing the mineralization deeper. Paloma West appears to be associated with a much larger breccia system that also includes Paloma East and several other targets in the Paloma area.”

Paloma Target Area

The Paloma target area consists of two mapped outcropping breccia pipes, Paloma East and Paloma West (Fig. 2) and at least one breccia dike. First-pass surface sampling encountered strongly anomalous gold at both Paloma breccia pipes as well as within several scattered small exposures of breccia and vein-like structures in the Paloma area.

About Chakana Copper

Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the high-grade gold-copper-silver Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project consists of high-grade gold-copper-silver mineralization hosted in tourmaline breccia pipes. A total of 31,641 metres of drilling has been completed to-date, testing eight (8) of twentythree (23) confirmed breccia pipes with more than 92 total targets. Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to several metals including copper, gold, and silver. For more information on the Soledad project, please visit the website 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.

Figure 1 – View looking north showing breccia pipes and occurrences within the northern Soledad cluster. Pipes that have been drilled in previous campaigns are shown in red. Targets shown in green are the focus on this 15,000m drill campaign. Other pipes and occurrences remain to be tested by drilling. Additional breccia pipes occur on the south half of the property and are not shown here.

Figure 2 – Map showing location of outcropping Paloma East and Paloma West breccia pipes and drill hole lithology in holes completed to date. Red represents tourmaline breccia. Location of section line for Figure 3 indicated.

Figure 3 – Section looking northwest showing the drill holes at Paloma West reported in this release. Light red 3D shape shows approximate shape of breccia based on the first nine holes.

SDH20-145 64.1m

SDH20-147 31.9m

SDH20-147 33.25m

SDH20-148 20.1m

SDH20-148 66.7m

Figure 4 – Detailed core photos from Paloma West: SDH20-145 (64.1m) chalcopyrite-pyrite-tourmaline replacement; SDH20-147 (31.9m) chaotic breccia with clasts replaced by chalcopyrite-pyrite; SDH20-147 (33.25m) chaotic breccia with clasts replaced by chalcopyrite-pyrite; SDH20-148 (20.1m) mosaic breccia with chalcopyrite-pyrite cement; F) SDH20-148 (66.7m) mosaic breccia with chalcopyrite-pyrite cement.

 

Palladium One Receives Additional $5.6 Million From Warrants Exercised

 

December 1, 2020 – Toronto, Ontario – Subsequent to September 30, 2020, the Company has received total proceeds of $5,619,013 million from the exercise of warrants, including $1,750,000.from Mr. Eric Sprott, said Palladium One Mining (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) today. Of the remaining 18,687,746 warrants that are outstanding, 18,687,746 of these warrants are currently at-the-money or in-the-money, which, if exercised, would result in the Company receiving an additional $2,381,572.

Derrick Weyrauch, President and CEO, stated, “The exercise of warrants provides sufficient funds to ensure wellfinanced drill programs are continued in 2021, thereby generating ample news flow. We look forward to providing additional updates and reporting results from our ongoing drill programs in the coming weeks and months.”

Eric Sprott through 2176423 Ontario Ltd., a corporation that is beneficially owned by him, acquired 15,000,000 common shares by exercising warrants for total consideration of $1,750,000. Prior to exercising warrants, Mr. Sprott owned and controlled 21,300,000 common shares and 16,300,000 common share purchase warrants representing 13.3% of the issued and outstanding common shares on a non-diluted basis and 21.3% on a partially diluted basis. As a result of exercising warrants, as at November 30, 2020, Mr. Sprott beneficially owns and controls 36,300,000 common shares and 1,300,000 common share purchase warrants representing 20.7% of the issued and outstanding common shares of the Company on a non-diluted basis and 21.3% on a partially diluted basis assuming the exercise of all warrants.

The Common Shares were acquired by Mr. Sprott, through 2176423 Ontario Ltd., for investment purposes. Mr. Sprott may acquire additional securities of Palladium One Mining including on the open market or through private acquisitions or he may sell securities of the Company including on the open market or through private dispositions in the future, depending on market conditions, reformulation of plans and/or other factors that Mr. Sprott considers relevant from time to time.

A copy of 2176423 Ontario Ltd.’s related early warning report will appear on the Company’s profile on SEDAR (www.sedar.com) and may also be obtained by calling Mr. Sprott’s office at (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

The use of proceeds will be to fund the Company’s exploration activities and for general working capital purposes.

As at November 30, 2020, the Company has 175,032,101 common shares issued and outstanding.

About Palladium One

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

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

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

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

This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Palladium One Mining Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

Source: Palladium One Mining Inc.

 

 

First Vanadium Drilling Identifies Gold System Stretching 1.4km at Its Gold Target on the Carlin Gold Trend, Nevada; Drilling Ongoing

 

Vancouver, British Columbia–(Newsfile Corp. – November 30, 2020) – First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) (“First Vanadium” or the “Company“) is pleased to summarize results from drillholes RC20-02 and RC20-03 from the on-going first reverse circulation drill campaign on the north-south trending gold target corridor within the Carlin Vanadium-Gold Property on the Carlin Gold Trend of Nevada. Results from RC20-02 and RC20-03, 1.4 kilometres south from previously reported RC20-01, also display Carlin-style gold system alteration and metal signatures, interpreting the gold system to be in excess of 1.4 kilometres in length. The gold target opportunity was identified by renowned geologist and mine-finder Dave Mathewson, a former Newmont Regional Exploration Manager who is the Company’s Geological Advisor and is the Qualified Person spearheading and supervising the gold drilling program.

Dave Mathewson states, “Results from RC20-01 and now RC20-02 and RC20-03 are providing some sense of dimensions to this large-scale Carlin-type gold system, early on. Hole RC20-01 shows a nearly 500m vertical dimension while holes RC20-02 and RC20-03 provide a 1.4 kilometre length. Drilling is on-going. In our efforts to vector to hot spots in the gold system, our current drilling campaign is progressing well, now on hole RC20-06.”

On November 2, 2020, the Company announced results from its first reverse circulation drill hole, RC20-01, identifying the presence of a large-scale Carlin-type gold system at this location on the property. The hole exhibited 487m (1600ft) of favourable altered and mineralized lower plate rocks from 275m (900ft) depth, to the bottom of the hole at 762m (2500ft). Holes RC20-02 (vertical) and RC20-03 (-55o eastward), from the same pad 1.4 kilometres south of RC20-01, were drilled on the bases of the north-south trending gold target corridor and presence of nearby gold values with associated arsenic and mercury pathfinder metals in surface exposures and previous shallow drilling. As reported November 2, 2020 holes RC20-02 and RC20-03 were abandoned at 1160ft and 820ft, respectively, due to artesian conditions, and failed to penetrate much of the more favorable lower plate Rodeo Creek and none of the upper Popovich target units as hole RC20-01 had. However, the holes did display Carlin-style gold system alteration and metal signatures within the upper plate rocks and uppermost lower plate of probable Rodeo Creek rocks in RC20-02, confirming the gold system to also be present at this location. Hole RC20-02 exhibited moderate dolomite alteration with pyrite from 61m (200ft) depth, to the bottom of the hole. There were elevations in gold, silver, arsenic, mercury and zinc. Nearly continuous weakly elevated gold values were encountered in the intervals 56.4-153.9m (185-505ft), 283.5-309.4m (930-1015ft) and 326.1-353.6m (1070-1160ft), generally with associated elevated arsenic values. These metal elevations were not, in comparison, encountered in the upper plate rocks in RC20-01, suggesting that perhaps the system may be stronger in this southern location. Hole RC20-03 showed similar elevations in alteration, sulfides and metals as in RC20-02. The Company is planning to deepen RC20-03 with diamond drilling during milder weather conditions so that artesian water can be better managed.

On-Going Drilling

The Company announced the continuation of the drilling campaign a mere 4 days following the RC20-01 announcement, with hole RC20-06 now in progress. Hole RC20-04, drilled eastward at a 55o angle, is located 830m south of hole RC20-01. RC20-05, drilled eastward at a 75o angle, is located 430m south of RC20-01. Hole RC20-06 is located from the same drill pad as RC20-05, drilling eastward but at a shallower angle of 60o. Hole RC20-06 will thus add a third dimension and begin the vectoring process and improve the understanding of the architecture and width of the system. The drilling will apply Mr. Mathewson’s gold model shown in the November 2, 2020 press release. Samples from holes RC20-04, 05 and a portion of 06 are in the ALS Global lab in Elko with results pending.

About First Vanadium Corp.

First Vanadium has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County, 6 miles south from the town of Carlin, Nevada and Highway I-80. The Carlin Vanadium Project hosts the Carlin Vanadium deposit. A positive PEA on the vanadium resource was announced May 11, 2020.

Approximately 9 million ounces comprised of multiple gold deposits, including past producing mines, are present near the FVAN property (5-15km). The Gold Target on the FVAN property is supported by compelling science: a north-south structure with coincident gravity high and a 2km x 600m Carlin deposit-type hydrothermal alteration system (dolomite, gold, pathfinder metals, silicification) on FVAN property – all very typical of Carlin deposit-type plumbing system and gold deposits.

ON BEHALF OF FIRST VANADIUM CORP.

per: “Paul Cowley”
CEO & President
(778) 655-4311
pcowley@firstvanadium.com
www.firstvanadium.com

Technical disclosure in this news release has been reviewed and approved by Dave Mathewson, a Qualified Person as defined by National Instrument 43-101, and Geological Advisor to the Company.

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

Forward-looking information

Certain statements in this news release constitute “forward-looking” statements. These statements relate to future events or the Company’s future performance and include the Company’s ability to meet its obligations under the Access and Mineral Lease Agreement and the conditions required to exercise in full its option to acquire the Carlin Vanadium project, to finance and drill test the interpreted gold target model and to encounter potential gold zones shown in the gold model . All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

Source: First Vanadium

Friday, November 27, 2020

Aurania Resources (AUIAF)(ARU:CA)
Work Advances at Tsenken; Investor Call Scheduled for December 1st

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

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

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

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

On the cusp of a discovery? Management believes they have found the edge of an iron oxide copper-gold (IOCG) system in the Tsenken target area with each successive hole drilled moving toward the core of the system. Scout drilling commenced in mid-September and through the end of the third quarter, three bore holes had been completed on the Tsenken N2 target for a total of 645 meters drilled and two holes were completed on the Tsenken N3 target representing 724 meters of drilling. Assay results from the first three holes are expected shortly. A sixth hole has been collared where the system appears to be strengthening toward the northwest. After Tsenken N3, the drill rig will likely move to the Tsenken N1 target. In December, a heliborne geophysical survey will commence which will provide magnetic, resistivity and conductivity information to map geological structures at depth.


Investor conference call.  Management will host a call for investors on December 1, 2020 at 11:00 am ET to provide an update on the company’s activities. While the company’s near-term focus has been on Tsenken, we expect the company to more broadly discuss its plans to test multiple targets on the property that encompass epithermal gold-silver, silver-zinc-lead, sedimentary-hosted copper-silver …

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. 

 

Palladium One Discovers up to 0.41% Nickel in Boulders and Begins Drill Program at the Tyko Nickel-Copper-PGE Project in Canada

 

November 18, 2020 – Toronto, Ontario – Mineralized boulders with up to 0.41% Nickel (“Ni”) have been discovered ‘down ice’ of the Smoke Lake airborne electromagnetic (“EM”) survey, as well as soil samples with up to 565 ppm Ni (>40 times background levels) at the Tyko Nickel-Copper-PGE Project, located in Ontario, Canada, said Palladium One Mining (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) today. Initially scheduled for June 2020 in response to the Covid-19 lockdown and suspension of exploration activities in Finland during March 2020, diamond drilling of the EM target at Smoke Lake is now scheduled commence on November 23, 2020.

Key highlights:

• Mineralized boulders and high nickel and copper values in soils indicate potential for high-grade massive sulphide mineralization.
• Geophysics suggests that mineralization is shallow thus opening up the possibility of open pit mining potential.
• High-resolution geophysical surveys currently underway, including drone-based magnetics and ground-based EM to further refine Smoke Lake EM anomaly.
• Up to 0.41% Ni in boulders located 180 m ‘down ice’ of the Smoke Lake EM anomaly.
• Up to 565 ppm Ni (>40 times background) in soil samples located 90 m ‘down ice’ of the Smoke Lake EM anomaly.
• Boulders closely resemble Ni-Cu mineralization at the RJ and Tyko zones which have returned up to 4.71% Ni over 0.87m in diamond drilling.
• Initial Phase I diamond drill program to begin on November 23, 2020.

President and CEO, Derrick Weyrauch commented, “With President-elect Biden’s two-trillion-dollar green energy plan, discovering a high-grade sulfide nickel deposit in shipping distance to existing smelter infrastructure in Sudbury, Ontario could be well timed. We are excited to drill test this anomaly at a time when nickel demand fundamentals are robust.”

Last year’s field season (see press release January 21, 2020) returned up to 238 ppm Ni (>20 times background) in soils with a single reconnaissance soil sampling line conducted over the Smoke Lake EM anomaly. This year’s program consisted of reconnaissance prospecting, mapping, and detailed soil sampling ‘down ice’ of the Smoke Lake EM anomaly. The 2020 program was highly successful have collected several highly anomalous soil samples and the discovery of a cluster of three angular hornblendite boulders, containing both disseminated and rip-up clasts of massive nickel-copper sulphides (Figure 3 and 4). These boulders closely resemble the mineralization found at the both the Tyko and RJ showings located 17 kilometers to the west (Figure 1), which have returned up to 1.06% Ni and 0.35% Cu over 6.22 m including 4.71% Ni and 0.82% Cu over 0.87m in hole TK-16-010 (see press release June 8, 2016).

Figure 1. Discovery boulder located 180m south of the Smoke Lake EM anomaly.

Figure 2. Approximately 5cm rip up clast of massive Cu-Ni sulphide hosted in hornblendite from the boulder cluster located 180m down ice of the Smoke Lake EM anomaly.

Figure 3. Smoke Lake area showing VLF survey (dark blue lines), 2019 and 2020 soil sample, and Cu-Ni mineralized boulders.

Table 1. Prospecting Samples collected from Hornblendite boulders during the summer 2020 Program

About Tyko Ni-Cu-PGE Project

The Tyko Ni-Cu-PGE project, is located ~65km northeast of Marathon Ontario, Canada. Tyko is an early stage, high sulphide tenor, nickel focused project with the most recent drill hole intercepts returning up to 1.06% Ni over 6.22 m including 4.71% Ni over 0.87m in hole TK-16-010 (see press release dated June 8, 2016).

Qualified Person

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

About Palladium One

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

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

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

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

This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Palladium One Mining Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

Source: Palladium One Mining Inc.

 

Comstock Mining Announces Positive Nine-months Earnings of $0.63 Per Share: Recognizes $18.3 Million Gain on Lucerne Sale

 

Virginia City, NV (November 17, 2020) Comstock Mining Inc. (the “Company”) (NYSE American: LODE) announced financial updates (unaudited) and strategic highlights for the third quarter and year to date:

Selected Strategic Highlights

• Completed the sale of the Lucerne mine to Tonogold Resources Inc. (“Tonogold”) for total cash, stock and debt consideration of approximately $18.8 million, plus Tonogold’s assumption of certain current and future obligations, and recognized a gain on the sale of approximately $18.3 million;
• Retained Investment in Tonogold share securities valued at $9.7 million at September 30, 2020;
• Retained Receivable in Tonogold secured note valued at $6.4 million at September 30, 2020;
• Extinguished its $4.8 million Senior Secured Debenture that was due later this year via a combination of cash proceeds from the Lucerne mine sale and unsecured promissory notes with favorable, extended terms;
• Installed and commenced the Mercury Clean Up LLC (“MCU”) Comstock mercury remediation pilot;
• Shipped and landed through MCU Philippines Inc. (“MCU-P”), the first landmark Philippines mercury remediation system, working together with our joint venture partner Clean Ore Solutions OPC;
• Completed an airborne geophysical survey of the Dayton-Spring Valley exploration complex;
• Expanded the airborne geophysical survey over all of the Company’s Comstock District properties;
• Contracted to lease, with an option to sell, the Daney Ranch for $2.7 million to a drilling company; and
• Extended the $10.1 million sale of Comstock’s two Silver Springs, NV properties until December 31, 2020.

Unaudited Third Quarter and Year To Date 2020 Selected Financial Highlights

• Costs applicable to mining decreased $296,023 during the three months ended September 30, 2020, as compared to the same period in 2019, as a result of certain assets becoming fully depreciated. These costs consist solely of depreciation expense on temporarily idled processing equipment;
• Real estate operating costs increased $690,306 during the three months ended September 30, 2020, as compared to the same period in 2019, almost solely due to depreciation recorded during the third quarter that would have been charged for previous periods, on the Gold Hill Hotel and Daney Ranch properties;
• Exploration and pre-development costs increased $152,978 during the three months ended September 30, 2020, as compared to the same period in 2019, primarily due to the costs of conducting an airborne geophysical survey of the Company’s resource areas and exploration targets;
• Interest expense decreased $15,140 during the three months ended September 30, 2020, as compared to the same period in 2019, as a result of lower average debt outstanding, including the retirement of the remaining Senior Secured Debenture in August 2020;
• Net income was $17.3 million, or $0.54 per share for the three months ended September 30, 2020, as compared to $0.4 million, or $0.02 per share in the prior comparable period, driven by transaction gains;
• Net income was $18.3 million, or $0.63 per share for the nine months ended September 30, 2020, as compared to a net loss of $3.5 million, or ($0.20) per share in the prior comparable period, driven by transaction and investment gains;
• Invested $1.9 million (in cash and stock) to date in MCU, as of September 30, 2020;
• Invested $1.0 million (in cash) to date in MCU-P, as of September 30, 2020;
• Total assets were $48.2 million, including current assets of $26.0 million, at September 30, 2020;
• Debt obligations totaled $4.8 million at September 30, 2020; reduced to $2.5 million by October 10; and
• Cash and cash equivalents at September 30, 2020, were $1.7 million.

Mr. Corrado De Gasperis, Executive Chairman and CEO stated, “Our successful sale of Lucerne has eliminated substantially all of our debt and recorded an $18 plus million gain and expectations of full-year profit for 2020, all while reducing our operating expenses and positioning our balance sheet for growth. We believe that our resource-based technology, properties, plant and equipment, and existing gold and silver mineral properties are undervalued. Our strategic plan includes establishing and growing the value of our existing mineral and royalty properties, commercializing and growing a global, ESG-compliant, profitable mercury remediation business, while still monetizing over $25 million in assets over the next fifteen months, for funding that growth.”

Comstock Mining’s Corporate Growth

The Company’s goal is to grow per-share value by commercializing environment-enhancing, precious and strategic-metal-based products and processes that generate a rate of predictable cash flow (throughput) and increase the long-term enterprise value of our northern Nevada based platform. The next three years are dedicated to delivering that value by achieving the performance objectives listed below:

Establish and grow the value of our mineral properties:

• Establish the Dayton Resource area’s maiden, stand-alone mineral resource estimate;
• Expand the Dayton-Spring Valley Complex through exploration drilling and geophysical modelling;
• Develop the expanded Dayton-SV Complex toward full economic feasibility, supporting a decision to mine;
• Entitle the Dayton-SV Complex with geotechnical, metallurgical, environmental studies and permitting; and
• Validate the Comstock NSR Royalty portfolio (Lucerne Mine, Occidental Lode, Comstock Lode, etc.).

Commercialize a global, ESG-compliant, profitable, mercury remediation system:

• Establish the technical efficacy of MCU’s Comstock Mercury System, and protect the intellectual property;
• Initiate and operate the first international mercury remediation project by deploying MCU’s second and third mercury remediation systems into the Philippines; and
• Identify, evaluate and prioritize a pipeline of potential mercury remediation projects; then deploy the third and fourth mercury remediation projects, producing extended, superior cash flow returns.

Monetize non-strategic assets and build a quality organization:

• Monetize our third-party, junior mining securities responsibly, for $12.5 million or more;
• Monetize our non-mining assets for $12.5 million, excluding the Gold Hill Hotel;
• Grow the value of our Opportunity Zone investments to over $30 million; and
• Deploy a systemic organization, capable of accelerating growth and handling complexity.

The strategic plan is designed to deliver per-share value over the next three years, while positioning the Company for continued growth beyond 2023.

Comstock Mining’s Corporate Realignment

Comstock Mining Inc. is the parent company that wholly owns the realigned subsidiaries and is expanding its mineral resources, mercury remediation operations and royalty portfolios.

Mr. De Gasperis continued, “The realignment enables partnerships and transactions that increase value-creating opportunities and accelerate our precious and strategic-metal-based products and process growth. Our goal is to deliver over $500 million of value, or at least $12 per share, from our existing assets and the commercialization of these environmentally friendly metal processing and mining technologies, partnerships and ventures.”

Comstock Exploration and Development

Our district-wide exploration and development plans contemplate three specific, geological areas that the Company has organized into wholly-owned subsidiaries called Comstock Exploration and Development LLC, Comstock Northern Exploration LLC, and Comstock Mining LLC. Comstock Exploration and Development LLC includes the Dayton and Spring Valley areas. Comstock Northern Exploration LLC includes the Occidental and Gold Hill exploration targets now leased to Tonogold, and Comstock Mining LLC, recently acquired by Tonogold, includes the Lucerne properties. These exploration targets represent over 7 miles of mineralized strike length, with current and historical grades of gold and silver, and significant historical mine production.

Comstock Processing LLC

Comstock Processing LLC (“CPL”), owns all of the property, plant, equipment, and permits for the crushing, agglomerating, leaching, Merrill Crowe processing, mercury retort, refining, and metallurgical operations located at 1200 American Flat Road, Virginia City, Nevada. The facilities represent a fully permitted platform, best positioned for implementing our Strategic Focus on high-value, cash-generating, precious and strategic metal-based activities.

To date, Comstock Processing has entered into two strategic ventures that leverage its platform for nearer-term cash generation; first with Tonogold for the Lease-Option Agreement to lease and operate the facilities and second, with Mercury Clean Up LLC (“MCU”) for the commercial pilot of the MCU mercury remediation system.

Dayton Resource and Spring Valley Exploration Areas

During the third quarter of 2020, the Company engaged Geotech Ltd (“Geotech”) of Aurora, Canada, to conduct an airborne geophysical survey of the Dayton resource area, Spring Valley exploration targets, and the rest of the Company’s Comstock district properties. The survey included both magnetic and Geotech’s proprietary Versatile Time-Domain Electromagnetic (“VTEM”) surveys.

The survey was flown from September 19, through October 3, 2020, with 1,161 line-kilometers. The interpreted, three-dimensional results have been recently delivered to the Company and our geological team is just now assessing a deep trove of geophysical and geological data. The results will greatly increase the Company’s understanding of the Dayton resource area, the Spring Valley resource expansion potential, and the rest of the Company’s Comstock district properties.

The Company’s technical staff is currently compiling a detailed structural interpretation of the Dayton resource area, which will provide the framework for a completely new resource model. The detailed interpretation is leading to a list of highly prospective drill targets to further define and expand the mineral resource.

The Company is proceeding to publish a separate S-K 1300 compliant, Initial Assessment technical report for the Dayton resource area to validate a mineral resource estimate. The new technical report will provide not only a new resource estimate, but also a phased drilling plan for further defining and expanding the resource for sustainable, profitable mining. The Company plans to continually advance the Dayton to full feasibility, towards a production ready mine plan. Mining on lands 100% privately held by the Company should shorten the permitting cycle.

Corporate

During 2019, the Company received $6.1 million in Tonogold convertible preferred stock (“CPS”). The CPS became convertible into common shares on May 22, 2020. On May 22, 2020, and September 29, 2020, the Company elected to convert $1.1 million and $2.8 million of CPS, respectively, at $0.18 per common share, for a total of 21,777,778 common shares. Through November 13, 2020, the Company has sold 5,057,894 common shares at an average price of $0.40 per share for proceeds of over $2 million and still holds 16,719,884 shares.

On October 2, 2020, Tonogold redeemed the remaining $2.2 million of CPS for $2.6 million in cash, representing 120% of the CPS face value. The Company promptly reduced its debt from approximately $4.8 million at September 30, 2020, to approximately $2.5 million in early October.

The Company is also owed $4.5 million, in the form of a 12% note receivable, due and payable by Tonogold on September 20, 2021, plus Tonogold’s assumption of $6.7 million in future lease and reclamation obligations, that together represent a permanent reduction of annual operating expenses of approximately $1 million.

Cash and cash equivalents at September 30, 2020, were $1.7 million, total common shares outstanding at both September 30, 2020, and November 17, 2020, were 34,440,766 shares.

Outlook

The Company expects to monetize its non-mining assets over the next fifteen months, for over $22 million, net of debt. The Company expects to close on the sale of certain properties and senior water rights in Silver Springs, Nevada, to Sierra Springs Enterprises Inc., for total proceeds of approximately $10 million. The Company also expects to monetize the remaining $9.7 million in Tonogold securities over the next fifteen months and collect on the $4.5 million in notes receivable in the next 10 months. The Company will use the proceeds to extinguish the outstanding $2.5 million in debt obligations, plus accrued interest, and fund the Company’s growth initiatives.

The Company’s fourth quarter 2020 plans also include updating the Dayton’s current resource estimate and continuing southerly into Spring Valley with incremental exploration programs that include recently completed geophysical surveys, surface exploration and definition drilling of targets identified by the geophysical surveys, surface mapping, prior drilling and deeper geological interpretations that all lead to publishing a new, S-K 1300 compliant, mineral resource estimate.

The Company’s remaining 2020 plans include advancing the investment in and the commercialization of MCU’s mercury remediation processing technologies. The Company expects to close on the MCU transaction during the fourth quarter of 2020, meaning it will then own 15% of MCU and expects to close on the MCU Philippines transaction in the first quarter of 2021, meaning it will then own 25% of MCU and 50% of its first joint venture in the Philippines. Oro Industries Inc. has delivered the 25-ton-per-hour mercury recovery plant and is testing and preparing the system for its pilot operations on the Comstock, including a 200 gallon-per-minute dissolved air flotation water treatment plant. These pilot trial operations will continue throughout 2021, at the Company’s American Flat processing facility, to validate and fine-tune the mercury extraction and remediation process, with the objective of reclaiming and remediating the Company’s existing properties, enhancing the values of, and evaluating the potential economic feasibility for, these properties, and creating new global growth opportunities in mercury remediation by demonstrating MCU’s technological and operational effectiveness, efficiency, and feasibility.

MCU-P has delivered its first international system to the Philippines and plans to commence reclamation operations during the fourth quarter 2020. MCU-P will operate under a joint venture agreement with Clean Ore Solutions, a Philippine Company, for mercury extraction and remediation of Mount Diwalwal and the Naboc River, one of the most mercury polluted, gold mining regions in the world. This represents the first real international opportunity for large-scale mercury remediation and environmental reclamations, using MCU’s systems, and establishing MCU as a leader in mercury remediation projects, and in particular, contamination caused by artisanal and small-scale miners.

Conference Call

The Company will host a conference call today, November 17, 2020, at 8:00 a.m. Pacific Time/11:00 a.m. Eastern Time. The live call will include a moderated Q&A, after the prepared comments by the Company. Please join the event 5-10 minutes prior to scheduled start time. When prompted, provide the confirmation code. The dial-in telephone numbers for the live audio are as follows:

Toll Free: 1-800-367-2403

Direct: 1-334-777-6978

Confirmation Code: 2739116
The audio will be available, usually within 24 hours of the call, on the Company’s new website:

http://www.comstockmining.com/investors/investor-library

About Comstock Mining Inc.

Comstock Mining Inc. is a Nevada-based, precious and strategic metal-based exploration, economic resource development, mineral production and metal processing business with a strategic focus on high-value, cash-generating, environmentally friendly, and economically enhancing mining and processing technologies and businesses. The Company has extensive, contiguous property in the historic Comstock and Silver City mining districts (collectively, the “Comstock District”) and is an emerging leader in sustainable, responsible mining and processing, and is currently commercializing environment-enhancing, metal-based technologies, products, and processes for precious and strategic metals recovery.

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; the possible redemption of debentures 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.
1200 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

 

Golden Predator Completes 2020 Drill Program at Brewery Creek Mine, Yukon

 

Vancouver, BC, November 17, 2020: Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) (the “Company”) today announces the completion of its 2020 work program at its licensed 100%-owned Brewery Creek mine project ?located approximately 55 km by road from Dawson City, Yukon. The 2020 program consisted of 60 drill holes for ~5,600 m of drilling including ~ 4,400 m of exploration and in-fill drilling plus 1,200 m of metallurgical and geotechnical drilling. All samples have been shipped and are currently being processed.

Brewery Creek maps can be viewed at: https://www.goldenpredator.com/_resources/news/GPY-NR-2020-Drill-Program-Completed-MAPS.pdf.

2020 Exploration and Technical Drill Program

The 2020 Brewery Creek drill program consisted of exploration, in-fill, geotechnical, hydrogeologic and metallurgical drilling to advance the Bankable Feasibility Study currently underway and projected for completion in Q1/21.

Infill Drilling

This program builds on Golden Predator’s successful 2019 program that established continuity of mineralization within the licensed Reserve Trend between the eastern edge of the Canadian-Fosters-Kokanee-Golden pits east to the Lucky pit. The 32 reverse circulation drill holes drilled in 2020 were designed to fill in and expand the gold resource between the eastern Golden zone and western Lucky zone. The targeted mineralization between these zones has been offset by a high-angle normal fault and was previously untested until 2019 when the zone was intersected with multiple drill holes.

Infill drilling within this 400 m gap between the eastern edge of the Fosters to Golden trend and the western edge of the Lucky zone is also to increase the density of drilling to convert Inferred resources to Indicated resources and confirm continuity of mineralization between the two deposits while testing for additional resources. The goal is to establish and confirm continuous mineralization along the Fosters-Canadian-Kokanee-Golden-Lucky zones for mine design now in progress as a part of the Brewery Creek Bankable Feasibility Study (BFS).

A total of 32 reverse circulation drill holes totaling 3,706 m were completed in the gap area between the eastern edge of Golden and western edge of Lucky. Samples from this program have been submitted to ALS Laboratories for sample preparation in Whitehorse, Yukon and assaying in Vancouver, British Columbia. Initial assay results from the program are expected in late November with complete assay results expected by the end of the year.

2020 Exploration Drilling of New Large-Scale Targets – Classic and Lonestar Zone

The 2020 drill program, targeted newly defined extensions of the Classic/Lone Star porphyry-style intrusive, with 3 reverse circulation holes totaling 687 m. The holes were very wide step-out holes drilled at significant distances from any existing drilling at the Classic and Lone Star areas.

Two of the drill holes (RC20-2710 and RC20-2711) were located approximately 500 m from each other and at least 650 m southeast of the closest previous drilling within the Classic and Lone Star zones. These holes targeted an area defined by anomalous gold and arsenic soil and rock chip geochemistry within a structural zone. The third drill hole (RC20-2711), located approximately 1,330 m to the east of the nearest previous drilling, tested a coincident aeromagnetic and radiometric anomaly indicating a structural zone along the margin of a biotite monzonite intrusive within an area of spotty gold and arsenic in soil geochemistry. All three drill holes encountered multiple fault zones and variable amounts of intrusive rock as dikes/sills within the structural zones.

The Classic Zone is a near surface bulk tonnage target that lies approximately 3 km south of the Brewery Creek Reserve Trend. Together with the Lone Star zone, the Classic Zone demonstrates the discovery potential of the entire southern portion of the large Brewery Creek Property where a large syenite intrusion hosts gold mineralization primarily in sheeted quartz/carbonate/pyrite veins and as fine-grained disseminations. Initial column leach tests have indicated that this intrusive hosted mineralization is leachable to at least a 200 m depth. This mineralization is clearly a separate younger mineralizing event not associated with the quartz monzonite thrust-hosted mineralization historically exploited in the Reserve Trend which is the subject of the ongoing bankable feasibility study.

Metallurgical & Geotechnical Drilling

A total of 14 PQ diamond drill holes totaling 540 m were completed in Foster-Canadian-Kokanee-Golden and Lucky pit areas. The program was designed to obtain mineralized material from the Fosters, Kokanee, Golden and Lucky areas for additional column leach tests. The core was shipped to McClelland Labs in Reno, NV where it is currently being tested. The core samples will be used to conduct additional column leach tests at a coarser crush size of approximately 3/4” versus previous test work conducted at 3/8” crush size at Kokanee, Golden and Lucky. These column tests are being conducted to confirm the recent results of column leach tests run at various crush sizes on material from the historic heap leach pad where the data showed slightly better recoveries of gold in solution for the coarser 3/4” crush size. A coarser crush size would help streamline any recovery process. These tests will be detailed in the Bankable Feasibility Study currently underway.

A total of eleven geotechnical/hydrogeologic drill holes were completed to support the ongoing Bankable Feasibility Study at Brewery Creek. A total of 975 m of drilling was completed in 8 diamond drill holes (792 m) and 3 reverse circulation drill holes (182 m). The diamond drill program was consisted of oriented, HQ3 core to support detailed fracture analysis of lithologies in the proposed pit walls and three of these were completed with piezometers. The 3 reverse circulation drill holes were drilled and completed as hydrogeologic monitor wells.

Brewery Creek Mine: Resources

Materials on the heap leach pad were not included in the resource update.
Mineral Resources estimates conducted within a pit shell developed at $2,000/oz gold with an internal cut-off grade calculated at $1,500/oz gold was used to report mineral resource inventories

The resource estimate is based on a recovery model created from assay data, bottle and column leach test work and historic recovery analysis instead of a less accurate visual oxide-sulfide boundary developed from geologist drill logs. Sedimentary and intrusive rocks, which have distinct metallurgical characteristics, were estimated separately based on gold-grade distribution analysis.

The current 2020 Mineral Resources Estimate supersedes the 2019 Mineral Resource Estimate. A supporting NI 43-101 Technical Report is filed on SEDAR at www.sedar.com.

Brewery Creek Mine Work Plan

The Brewery Creek Mine is a licensed brownfields heap leach gold mine that was operated by Viceroy Minerals Corporation from 1996 to 2002. Brewery Creek is authorized to restart mining activities as defined within the Quartz Mining License and Water License. The Company intends to resume mining and processing of licensed deposits when supported by an independent study that outlines technical and economic viability. The 180 km2 property is located 55 km east of Dawson City and is accessible year-round by paved and improved gravel roads. Significant infrastructure remains in place, allowing for a timely restart schedule under existing operating licenses.

A Bankable Feasibility Study (BFS) is being conducted by Kappes Cassiday & Associates of Reno, Nevada which will include a multi-year mine plan for the advancement of the Brewery Creek project. The BFS will include an inventory of the mineralized material remaining on the heap and mine planning (completed by Tetra Tech Inc of Golden, Colorado) for the resumption of the mining of material from leachable resources contained within the licensed area and reported in the Company’s Mineral Resource Estimate. The BFS will include all the key parameters involved in reconstructing or adding necessary infrastructure including a crushing facility, the Adsorption-Desorption-Recovery (“ADR”) plant and assay lab and an implementation schedule, sourcing, and economic cash flow model sufficiently detailed to move directly into procurement, development and construction if economically warranted. Any production decisions would be dependent on the outcome of a study demonstrating positive technical and economic viability.

The technical content of this news release has been reviewed and approved by Michael Maslowski, CPG, a Qualified Person as defined by National Instrument 43-101 and is employed by the Company as its Chief Operating Officer.

About Golden Predator Mining Corp.

Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities, under its Quartz Mining and Water Licenses, in Canada’s Yukon. With established resources grading over 1.0 g/t gold the Company is completing a Bankable Feasibility Study for the restart of heap leach operations. The Brewery Creek Mine project operates with a Socio Economic Accord with the Tr’ondëk Hwëch’in First Nation.

 

For additional information:
Janet Lee-Sheriff
Chief Executive Officer
(604) 260-8435
info@goldenpredator.com

www.goldenpredator.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations that the Brewery Creek will advance to an early production decision, or the extent of any additional mineral resource that could result from incorporating 2019 exploration drilling. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward looking information should circumstances or management’s estimates or opinions change.

1. 1. The 2020 Mineral Resource Estimate was conducted in accordance with CIM guidelines and is reported in a NI 43-101 Technical Report which will be filed on SEDAR and the Company’s website within 45 days.

Source: Golden Predator Mining Corp.