Category: Natural Resources

Monday, October 5, 2020

Minerals Industry Report

Metals & Mining Third Quarter Review and Outlook

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to end of report for Analyst Certification & Disclosures

• Mining companies outperformed the broader market. During the third quarter of 2020, mining companies (as measured by the XME) gained 9.7% compared to 8.5% for the broader market as measured by the S&P 500 index. The VanEck Vectors Gold Miners (GDX) and Junior Gold Miners (GDXJ) ETFs were up 6.8% and 11.7%, respectively. During the third quarter, gold futures prices increased 4.1%, while silver futures prices increased 26.1%. While gold has retreated from its all-time high in August, it is up 22.2% year-to-date through September 30. With respect to base metals, copper and zinc futures prices increased 11.8% and 18.6%, respectively, while the lead futures price declined 1.9%. Given that most metals built on price gains achieved during the second quarter, we might expect improved third quarter financial results.
• Outlook for precious metals remains constructive. With the upcoming U.S. elections, both parties appear to support continued fiscal spending, while the Federal Reserve has already signaled accommodative policies for the foreseeable future. During the third quarter, the U.S. dollar index fell 3.6% and is down 3.0% for the year after peaking in March. While we expect the USD to maintain its status as the world’s reserve currency, we see few catalysts for it to strengthen materially due to continued low interest rates, an expanding money supply, a widening trade deficit, increasing U.S. debt which stood at 135% of GDP at the end of the second quarter, and the Federal Reserve’s inclination to allow inflation to drift above its 2% target.
• Base metals could benefit from increased economic activity. We expect base metals to benefit from continued fiscal stimulus and a focus on infrastructure spending. In our view, demand should increase as economic activity improves following the depths of the pandemic’s impact on demand, coupled with the need to rebuild inventories. Additionally, we see demand for metals, including copper, nickel, silver and palladium benefiting from secular themes, including a push toward electrification and green technologies.
• Mining equities provide leverage to commodity price strength. In our view, the backdrop remains constructive for both precious and base metals since both are likely to benefit from continued fiscal and monetary stimulus and their repercussions. However, there is a risk of greater regulation of mining in the United States should the Democratic Party sweep the election.

GENERAL DISCLAIMERS

All statements or opinions contained herein that include the words “we”, “us”, or “our” are solely the responsibility of Noble Capital Markets, Inc.(“Noble”) and do not necessarily reflect statements or opinions expressed by any person or party affiliated with the company mentioned in this report. Any opinions expressed herein are subject to change without notice. All information provided herein is based on public and non-public information believed to be accurate and reliable, but is not necessarily complete and cannot be guaranteed. No judgment is hereby expressed or should be implied as to the suitability of any security described herein for any specific investor or any specific investment portfolio. The decision to undertake any investment regarding the security mentioned herein should be made by each reader of this publication based on its own appraisal of the implications and risks of such decision.

This publication is intended for information purposes only and shall not constitute an offer to buy/sell or the solicitation of an offer to buy/sell any security mentioned in this report, nor shall there be any sale of the security herein in any state or domicile in which said offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or domicile. This publication and all information, comments, statements or opinions contained or expressed herein are applicable only as of the date of this publication and subject to change without prior notice. Past performance is not indicative of future results. Noble accepts no liability for loss arising from the use of the material in this report, except that this exclusion of liability does not apply to the extent that such liability arises under specific statutes or regulations applicable to Noble. This report is not to be relied upon as a substitute for the exercising of independent judgement. Noble may have published, and may in the future publish, other research reports that are inconsistent with, and reach different conclusions from, the information provided in this report. Noble is under no obligation to bring to the attention of any recipient of this report, any past or future reports. Investors should only consider this report as single factor in making an investment decision.

IMPORTANT DISCLOSURES

This publication is confidential for the information of the addressee only and may not be reproduced in whole or in part, copies circulated, or discussed to another party, without the written consent of Noble Capital Markets, Inc. (“Noble”). Noble seeks to update its research as appropriate, but may be unable to do so based upon various regulatory constraints. Research reports are not published at regular intervals; publication times and dates are based upon the analyst’s judgement. Noble professionals including traders, salespeople and investment bankers may provide written or oral market commentary, or discuss trading strategies to Noble clients and the Noble proprietary trading desk that reflect opinions that are contrary to the opinions expressed in this research report.
The majority of companies that Noble follows are emerging growth companies. Securities in these companies involve a higher degree of risk and more volatility than the securities of more established companies. The securities discussed in Noble research reports may not be suitable for some investors and as such, investors must take extra care and make their own determination of the appropriateness of an investment based upon risk tolerance, investment objectives and financial status.

Company Specific Disclosures

The following disclosures relate to relationships between Noble and the company (the “Company”) covered by the Noble Research Division and referred to in this research report.
Noble is not a market maker in any of the companies mentioned in this report. Noble intends to seek compensation for investment banking services and non-investment banking services (securities and non-securities related) with any or all of the companies mentioned in this report within the next 3 months

ANALYST CREDENTIALS, PROFESSIONAL DESIGNATIONS, AND EXPERIENCE

Senior Equity Analyst focusing on Basic Materials & Mining. 20 years of experience in equity research. BA in Business Administration from Westminster College. MBA with a Finance concentration from the University of Missouri. MA in International Affairs from Washington University in St. Louis.
Named WSJ ‘Best on the Street’ Analyst and Forbes/StarMine’s “Best Brokerage Analyst.”
FINRA licenses 7, 24, 63, 87

WARNING

This report is intended to provide general securities advice, and does not purport to make any recommendation that any securities transaction is appropriate for any recipient particular investment objectives, financial situation or particular needs. Prior to making any investment decision, recipients should assess, or seek advice from their advisors, on whether any relevant part of this report is appropriate to their individual circumstances. If a recipient was referred to Noble Capital Markets, Inc. by an investment advisor, that advisor may receive a benefit in respect of
transactions effected on the recipients behalf, details of which will be available on request in regard to a transaction that involves a personalized securities recommendation. Additional risks associated with the security mentioned in this report that might impede achievement of the target can be found in its initial report issued by Noble Capital Markets, Inc. This report may not be reproduced, distributed or published for any purpose unless authorized by Noble Capital Markets, Inc.

RESEARCH ANALYST CERTIFICATION

Independence Of View
All views expressed in this report accurately reflect my personal views about the subject securities or issuers.

Receipt of Compensation
No part of my compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed in the public appearance and/or research report.

Ownership and Material Conflicts of Interest
Neither I nor anybody in my household has a financial interest in the securities of the subject company or any other company mentioned in this report.

NOBLE RATINGS DEFINITIONS	% OF SECURITIES COVERED	% IB CLIENTS
Outperform: potential return is >15% above the current price	88%	41%
Market Perform: potential return is -15% to 15% of the current price	12%	5%
Underperform: potential return is >15% below the current price	0%	0%

NOTE: On August 20, 2018, Noble Capital Markets, Inc. changed the terminology of its ratings (as shown above) from “Buy” to “Outperform”, from “Hold” to “Market Perform” and from “Sell” to “Underperform.” The percentage relationships, as compared to current price (definitions), have remained the same. Additional information is available upon request. Any recipient of this report that wishes further information regarding the subject company or the disclosure information mentioned herein, should contact Noble Capital Markets, Inc. by mail or phone.

Noble Capital Markets, Inc.
225 NE Mizner Blvd. Suite 150
Boca Raton, FL 33432
561-994-1191

Noble Capital Markets, Inc. is a FINRA (Financial Industry Regulatory Authority) registered broker/dealer.
Noble Capital Markets, Inc. is an MSRB (Municipal Securities Rulemaking Board) registered broker/dealer.
Member – SIPC (Securities Investor Protection Corporation)

Energy Fuels Applauds President Trump’s Executive Order Declaring State of Emergency to Address America’s Overreliance on Critical Minerals from Foreign Adversaries; Includes Uranium, Vanadium and Rare Earth Elements

   Energy Fuels is a leading U.S. producer of uranium and vanadium and expects to soon enter the rare earth elements processing business

LAKEWOOD, Colo., Oct. 1, 2020 /CNW/ – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR)
(“Energy Fuels”), a leading producer of uranium and vanadium in the United States, is pleased to announce that last night President Trump issued an Executive Order on Addressing the Threat to the Domestic Supply
Chain from Reliance on Critical Minerals from Foreign Adversaries (the ”
Order“). The full text of the Order can be found here; President Trump’s message to Congress can be found here; and, a fact sheet summarizing the Executive Order can be found here. The Company believes the Order may be a major step toward providing tangible support and/or funding to be directed toward producers and processors of critical minerals, which may include Energy Fuels.

In 2018, the Secretary of Interior issued a final list of 35 minerals deemed critical to U.S. national security and the economy, which can be found here. The list includes uranium, vanadium, and the rare earth elements group. Energy Fuels has been the leading U.S. producer of uranium since 2017, and the Company’s assets have produced over 16 million pounds of uranium since 2006, placing the Company second only to Cameco in the U.S. In 2019, Energy Fuels produced 1.8 million pounds of high-purity vanadium, making the Company the largest producer of vanadium in the U.S. last year. Earlier this year, the Company announced its plan to enter into the rare earths processing business, where the Company believes its White Mesa Mill can play a critical role in bringing the rare earth element supply chain back to the U.S. At the end of 2020, the Company expects to hold significant inventories of both uranium and vanadium that have been produced in the U.S.

The Order was signed pursuant to the International Emergency Economic Powers Act, the National Energencies Act, and section 301 of title 3, United States Code, which includes the declaration of a national emergency “to deal with the threat posed by our Nation’s undue reliance on critical minerals, in processed or unprocessed form, from foreign adversaries.”

The Order requires “the Secretary of Interior, in consultation with the Secretary of Treasury, the Secretary of Defense, the Secretary of Commerce, and the heads of other executive departments and agencies, as appropriate, to investigate our Nation’s undue reliance on critical minerals….” Following this investigation, the Secretary of Interior shall submit a report to the President within sixty (60) days recommending additional executive actions, “which may include the imposition of tariffs or quotas, other import restrictions …, or other appropriate action, consistent with applicable law.”

Importantly for Energy Fuels, the Order also “begins the process for the Department of Interior to develop a program to use its authorities under the Defense Production Act (”
DPA“) to fund mineral processing that protects our national security.” Energy Fuels holds over 11.5 million pounds of licensed uranium processing capacity in three facilities, including two in situ recovery (”
ISR“) uranium facilities and the White Mesa Mill, which is the only conventional uranium and vanadium processing facility in the United States. This is more uranium processing capacity than any other U.S. uranium company, and Energy Fuels holds more in-ground uranium resources than any other U.S. uranium miner.

Mark S. Chalmers, President and CEO of Energy Fuels stated: “President Trump made a strong statement last night on the importance of bringing the production of critical minerals back to the United States. In 2018, the Administration deemed 35 minerals critical to U.S. national security and the economy. For 31 of these 35 minerals, the U.S. imports more than half of our requirements. And, for 14 of these 35 minerals, the U.S. is effectively 100% dependent on imports. These minerals are needed for aerospace, computers, cell phones, electrical generation and transmission, renewable energy systems and batteries, and advanced electronics. This is an unacceptable situation for a superpower like the United States, and we applaud President Trump for taking bold action to address this critical need.

“Energy Fuels stands ready to do our part in bringing uranium, vanadium and rare earth element processing and production back to the United States. We have led uranium industry efforts in Washington DC over the past three years to bring the issue of mineral supply chain security to the forefront, beginning with our Uranium Section 232 Petition, in which we asked the President to impose quotas on uranium imports. Unfortunately, despite expressing strong support for domestic uranium producers, the Administration has not yet turned their strong support into definitive actions. Energy Fuels strongly supports the President’s declaration of a national emergency and invoking the Defense Production Act to free up the immediate government funding required to bring uranium production back to the United States and reduce our current dependency on imports from foreign adversaries, while also helping to fund U.S. vanadium and rare earth element production.

“Energy Fuels will continue our efforts in Washington, DC towards seeing that last night’s announcement results in real, tangible support for U.S. uranium, vanadium and rare earth element producers.”

 

About Energy Fuels: Energy Fuels is a leading US-based
uranium mining company, supplying U₃O₈ to major nuclear
utilities. The Company also produces vanadium from certain of its projects, as
market conditions warrant, and is evaluating the potential to also recover rare
earth elements at its White Mesa Mill. Its corporate offices are near Denver,
Colorado, and all of its assets and employees are in the United States. Energy
Fuels holds three of America’s key uranium production centers, the White Mesa
Mill in Utah, the Nichols Ranch ISR Project in Wyoming, and the Alta Mesa ISR
Project in Texas. The White Mesa Mill is the only conventional uranium mill
operating in the U.S. today, has a licensed capacity of over 8 million pounds
of U₃O₈ per year, and has the ability to produce vanadium
when market conditions warrant. The Nichols Ranch ISR Project is on standby and
has a licensed capacity of 2 million pounds of U₃O₈ per
year. The Alta Mesa ISR Project is also on standby and has a licensed capacity
of 1.5 million pounds of U₃O₈ per year. In addition to
the above production facilities, Energy Fuels also has one of the largest NI
43-101 compliant uranium resource portfolios in the U.S., and several uranium
and uranium/vanadium mining projects on standby and in various stages of permitting
and development. The primary trading market for Energy Fuels’ common shares is
the NYSE American under the trading symbol “UUUU”, and the Company’s
common shares are also listed on the Toronto Stock Exchange under the trading
symbol “EFR.” Energy Fuels’ website is www.energyfuels.com.

Cautionary Notes: This news release contains
certain “Forward Looking Information” and “Forward Looking
Statements” within the meaning of applicable United States and Canadian
securities legislation, which may include, but is not limited to, statements
with respect to: any expectation that the Order may be a major step toward
providing tangible support and/or funding to be directed toward producers and
processors of critical minerals, which may include Energy Fuels; any
expectation that the Company’s White Mesa Mill can play a critical role in
bringing the rare earth element supply chain back to the U.S.; any expectation
that the Order may help to fund U.S. uranium, vanadium and/or rare earth
element production; any expectation as to how or to the extent the Order may be
implemented and that the Order may result in real, tangible support for U.S.
uranium, vanadium and rare earth element producers; any expection as to any
inventories of both uranium and vanadium that the Company may hold at any time;
and any expectation that the Company may to soon enter the rare earth elements
processing business. Generally, these forward-looking statements can be
identified by the use of forward-looking terminology such as “plans,”
“expects,” “does not expect,” “is expected,”
“is likely,” “budgets,” “scheduled,”
“estimates,” “forecasts,” “intends,”
“anticipates,” “does not anticipate,” or
“believes,” or variations of such words and phrases, or state that
certain actions, events or results “may,” “could,”
“would,” “might” or “will be taken,”
“occur,” “be achieved” or “have the potential
to.” All statements, other than statements of historical fact, herein are
considered to be 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 the Company to be materially
different from any future results, performance or achievements express or
implied by the forward-looking statements. Factors that could cause actual
results to differ materially from those anticipated in these forward-looking
statements include risks associated with: any expectation that the Order may be
a major step toward providing tangible support and/or funding to be directed toward
producers and processors of critical minerals, which may include Energy Fuels;
any expectation that the Company’s White Mesa Mill can play a critical role in
bringing the rare earth element supply chain back to the U.S.; any expectation
that the Order may help to fund U.S. uranium, vanadium and/or rare earth
element production; any expectation as to how or to the extent the Order may be
implemented and that the Order may result in real, tangible support for U.S.
uranium, vanadium and rare earth element producers; any expection as to any
inventories of both uranium and vanadium that the Company may hold at any time;
any expectation that the Company may to soon enter the rare earth elements
processing business; and the other factors described under the caption
“Risk Factors” in the Company’s most recently filed Annual Report on
Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com, and on the Company’s website at www.energyfuels.com. Forward-looking statements
contained herein are made as of the date of this news release, and the Company
disclaims, other than as required by law, any obligation to update any
forward-looking statements whether as a result of new information, results, future
events, circumstances, or if management’s estimates or opinions should change,
or otherwise. There can be no assurance that forward-looking statements will
prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, the reader
is cautioned not to place undue reliance on forward-looking statements. The
Company assumes no obligation to update the information in this communication,
except as otherwise required by law.

SOURCE Energy Fuels Inc.

For further information: Energy Fuels Inc., Curtis Moore – VP – Marketing & Corporate Development, (303) 974-2140 or Toll free: (888) 864-2125, investorinfo@energyfuels.com,
www.energyfuels.com

Wednesday, September 30, 2020

Ely Gold Royalties (ELYGF)(ELY:CA)

Purchase of Royalty Would Provide Exposure to Cote Gold Project in Ontario

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

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

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

Proposed acquisition of the Watershed Royalty. Ely Gold Royalties agreed to purchase a 1% net smelter returns royalty on mining claims in Ontario, Canada from Sanatana Resources Inc. (TSXV, STA, Not Rated). The Watershed Royalty surrounds the Cote Gold Project which is a joint venture between IAMGOLD (NYSE, IAG, Not Rated) and Sumitomo Metal Mining Company. Consideration includes C$2.5 million in cash and 1 million Ely Gold warrants with an approximate value of C$500 thousand.


Transaction contingencies.  Completion of the royalty sale is subject to: 1) receipt by Sanatana of a waiver from IAMGOLD of its right of first refusal (ROFR), 2) negotiation of a definitive agreement, and 3) approval of the TSX Venture Exchange (TSXV). In the event IAMGOLD exercises the ROFR, Sanatana will pay a break-up fee of C$500 thousand to Ely Gold …

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

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

Ely Gold Royalties Purchases Coté Project Gold Royalty, Ontario Canada

 

Vancouver, British Columbia – September 29, 2020– Ely Gold Royalties Inc. (TSXV: ELY) (OTCQX: ELYGF) (“Ely Gold” or the “Company“) has agreed to purchase, a 1% net smelter returns royalty (the “
Watershed Royalty”) from Sanatana Resources Inc. (TSX-V:STA) (“Sanatana”).

The Watershed Royalty was granted to Sanatana in connection with an Asset Purchase Agreement between the Company and Trelawney Augen Acquisition Corp., now IAMGOLD Corporation (“IAMGOLD”), dated January 12, 2016, (the “Purchase Agreement”) whereby IAMGOLD acquired a 100% interest in 46 mining claims in Chester and Yeo Counties, Ontario (the “Watershed Property”). The Watershed Property surrounds the Coté Gold Project which is a joint venture between IAMGOLD and Sumitomo Metal Mining Company. Part of the Watershed Claims are included in the November 1, 2018 Feasibility Study and the balance of the claims completely surround the Coté Gold Project. (see Figure 1)

The Transaction

Sanatana will sell the Watershed Royalty to Ely Gold for total consideration of $3,000,000 to be comprised of $2,500,000 in cash and 1,000,000 Ely Gold warrants (the “Ely Warrants”) with an approximate value of $500,000. The Ely Warrants have a five-year term and will have an exercise price of C$1.31. Securities issued under the Ely Warrants will be subject to a four-month hold period. The completion of the Royalty Sale is subject to: (i) receipt by Sanatana of a waiver from IAMGOLD of its right of first refusal as provided in Watershed Royalty (“ROFR”); (ii) the negotiation of a definitive agreement; and (iii) applicable approval of the TSX Venture Exchange (the “TSX-V”). The parties have also agreed to a 90-day period of exclusivity with respect to this Transaction. In the event IAMGOLD exercises the ROFR, Sanatana will pay a break fee of $500,000 to Ely Gold.

Purchase Agreement Assignment

Sanatana and Ely Gold have also signed a term sheet (the “Term Sheet”) whereby Sanatana has agreed to (i) assign its rights and interest in the Purchase Agreement to Ely Gold (the “Assignment”) for $10,000, and (ii) Ely Gold will participate for $500,000 in Sanatana common shares (the “Common Shares”) through a non-brokered private placement (the “Private Placement”).

The Purchase Agreement provides for certain deferred payments as follows:

1. $1,500,000 upon a production decision by IAMGOLD on the Watershed Property; an
2. $1,500,000 upon the commencement of commercial production by IAMGOLD on the Watershed Property (together, the “Deferred Payments”)

In the event that IAMGOLD exercises the ROFR and either of the Deferred Payments are made to Ely Gold, it will pay 50% of any such Deferred Payments to Sanatana.

Private Placement
In connection with the Assignment, Sanatana is announcing a non-brokered private placement (the “Private Placement”) of $500,000 in Sanatana common shares (the “Common Shares”) to be purchased by Ely Gold at a price of C$0.30 per Common Share. The proceeds from the Private Placement are expected to be used by the Company for a drone based magnetic survey and an initial drilling program at the Gold Rush property. Securities issued under the Private Placement will be subject to a four-month hold period which will expire four months and one day from the date of closing of the Private Placement.

The completion of the Assignment and the Private Placement are subject to the negotiation of definitive transaction documentation and applicable approvals from the TSXV.

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

About Ely Gold Royalties Inc.

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

On Behalf of the Board of Directors

Trey Wasser, President & CEO

 

For further information, please contact:

Trey Wasser, President & CEO
trey@elygoldinc.com
972-803-3087

Joanne Jobin, Investor Relations Officer
jjobin@elygoldinc.com
647-964-0292

 

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

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

Ely Gold Royalties (TSX-V: ELY, OTCQX: ELYGF) Announces Town Hall Webinar

 

Vancouver, British Columbia – September 29, 2020– Ely Gold Royalties Inc. (TSXV: ELY) (OTCQX: ELYGF) (“Ely Gold” or the “Company“) is pleased to announce that it will be conducting a Town Hall Webinar on Monday, October 1, 2020, at 11:00 am EST.

Trey Wasser, President and CEO, will update shareholders on recent Ely Gold transactions, its Key Assets and the importance of its focus on North America and the Company’s growth strategy to become a premier gold royalty company.

The Webinar will be interactive and will be hosted by Follow the Money Investment Group. All stakeholders and interested investors are welcome to tune in and participate with questions. The playback will then be available on the Company’s website.

To participate in the Town Hall Webinar please register here: https://www.bigmarker.com/ftmig1/Ely-Gold-Royalties-Town-Hall3-2020-10-01-11-00-am?utm_bmcr_source=elynr

 

About Ely Gold Royalties Inc.

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

 

About Follow the Money Investment Group

Follow the Money Investor Group is an investor focused digital marketing company that provides the content and information needed for investors to navigate the ever-changing capital markets. Our global community uses our platform to discuss and collaborate daily on all facets of their current and potential investments. Our goal is to help retail investors make the right financial decisions that fit their individual needs.

On Behalf of the Board of Directors

Trey Wasser, President & CEO

 

For further information, please contact:

Trey Wasser, President & CEO
trey@elygoldinc.com
972-803-3087

Joanne Jobin, Investor Relations Officer
jjobin@elygoldinc.com
647-964-0292

 

Palladium One Major Discovery Increases Kaukua South Mineralized Strike Length Six-Fold From 600 M to 4 Km

 

Key highlights:

• 11 successful discovery holes were drilled on the Kaukua South extension—each contain magmatic sulphide mineralization, and rush assay results are pending.
• Major discovery increases mineralized strike length from 600 m to 4 km at Kaukua South.
• Drilling validates potential to significantly increase existing NI 43-101 pit constrained resources and confirms the Kaukua South Induced Polarization (“IP”) chargeability anomaly is the result of magmatic sulfides.
• Due to near surface mineralization, more holes than planned were drilled, enabling modelling of potential tonnages across the four-kilometer mineralized strike length of Kaukua South.
• The width (drilled core length) of mineralized intercepts ranges from 15 m to 100 m.
• Palladium is more valuable than gold and has a range-bound price approximately US$400 per ounce higher than gold.

September 29, 2020 – Vancouver, British Columbia – Palladium One Mining Inc. (TSX-V:
PDM, FRA: 7N11, OTC: NKORF) (the “Company” or “Palladium One”). Initial visual results from the resumed diamond drill exploration program at the LK Project in Finland demonstrate that Kaukua South is comprised of the same host rocks and indicates that it is the fault displaced extension of the Kaukua Deposit.

Multiple discoveries of magmatic sulfide mineralization have been outlined, and preliminary indications are that Kaukua South could be several times the size of the NI 43-101 Kaukua Open Pit Resource. That resource currently has 526,000 ounces of palladium equivalent ounces at 1.8 g/t in the indicated category and 636,000 ounces of palladium equivalent ounces at 1.5 g/t in the inferred category.

“We are very excited to report this major new discovery, and are
processing assays on a rush basis,” said Derrick Weyrauch, President and Chief Executive Officer.

”The Kaukua South strike extension is exceptionally significant
because it has shallow disseminated sulfide mineralization the same as Kaukua
and points to the footprint of a large-scale mineral system,” said Dr. Peter C.
Lightfoot, one of Palladium One Mining’s directors and a globally recognized
expert in magmatic precious metal and nickel-copper-cobalt sulphide ore
deposits. Dr. Lightfoot also stated, “LK is shaping up to potentially be the
largest palladium dominant open pit project in a best in class mining
jurisdiction, globally.”

“Advanced planning for a Phase II resource definition drill
program is underway, we will drill on a 100-meter spaced grid along the
four-kilometer mineralized strike extent of Kaukua South.” stated Derrick Weyrauch

Investor Update Webinar

Please join Derrick Weyrauch, CEO, and Neil Pettigrew, Vice President Exploration on October 1, 2020 at 10:00 AM Eastern Time (US and Canada), 4:00 PM (GMT+2) to discuss the interim results from the Company’s Phase I exploration drilling program in the Greater Kaukua Area.

Date: October 1, 2020
Time: 10:00 AM Eastern Time (US and Canada), 4:00 PM (GMT+2)
Registration link: https://primetime.bluejeans.com/a2m/register/gfryyqah

After registering, you will receive a confirmation email containing information about joining the webinar. Questions may be asked during the webinar orally or via the webinar chat function. A replay will be made available on the Palladium One Mining Inc. website at http://www.palladiumoneinc.com

Summary:

• Drilling has extended magmatic sulfide mineralization in Kaukua South more than 3 km east of hole LK20-006 which returned 63.4 m at 1.88 g/t palladium equivalent (Pd_Eq)*, within 166.7m @ 1.16 g/t Pd_Eq (see news release dated August 11, 2020 ). Historic drilling returned 33 m at 1.9 g/t Pd_Eq (KAU-08-035) 600 m west of LK20-006, thereby demonstrating a
  mineralized strike length of approximately 4 km (Figure 1).
• 11 holes were drilled on the Kaukua South IP chargeability anomaly (see news release dated August 10, 2020) during the resumed drill program, all of which intersected magmatic sulfide mineralization (Figures 1, 2, 3, 4, and 5).
• Step out drilling, consisting of five sections
  with at least two holes per section, indicates Kaukua South shallows
  and comes to surface, along the three-kilometer extension.
• Disseminated to blebby (1-5%) magmatic sulfides consisting of chalcopyrite and pyrrhotite with local veins of remobilized massive sulfide occur within intercepts ranging from 15 m to
  100 m (drilled core length).
• Sulphide mineralization and variable- to chaotic-textured mafic-ultramafic rock types are the same as the host rocks at the Kaukua Open Pit NI 43-101 deposit. Kaukua South is now interpreted to be the fault displaced extension of the Kaukua Deposit. The average true-width mineralized core at Kaukua is approximately 30 m, and preliminary indications suggest that similar core mineralized true-widths also occur in Kaukua South.

* Palladium equivalent

Palladium equivalent is calculated using US$1,100 per ounce for palladium, US$950 per ounce for platinum, US$1,300 per ounce for gold, US$6,614 per tonne for copper, and US$15,4332 per tonne for nickel.

Phase 1 Drill Program Update

The Company continues to log and sample the drill core from the recently completed drilling program. Fourteen holes totalling 2,566 m were completed during the resumed program in August and September, bringing the total Phase I exploration drilling program to 26 holes totalling 4,490 m. First assay results are expected with in the next few weeks and will be released as they are received.

Figure 1

This figure shows the greater Kaukua Area, the NI 43-101 compliant Kaukua Open Pit deposit, Murtolampi and Kaukua South zones. The new drill defined three-kilometer eastern extension of the Kaukua South zone is shown with the resumed Phase I drill holes labelled in red.

 

Figure 2

Kaukua South extension chalcopyrite-rich magmatic sulfide from 6 different holes from the resumed Phase I exploration drill program. Pictures A, B, C & D are typical Kaukua-type disseminated to blebby chalcopyrite-pyrrhotite magmatic sulfides, ranging from 1-5% averaging around 2%, hosted in gabbroic and pyroxenitic rocks. Pictures D and E are remobilized magmatic sulfides, which can occur as massive chalcopyrite-rich veins.

 

 

Figure 3

Kaukua South Long section showing the greater than 1% magmatic sulphide isoshell derived from visual inspection of down hole percent sulfide from drill logs. Resumed Phase I diamond drill holes are labelled in red.

 

Figure 4

Kaukua South Long section showing IP Chargeability isoshells and down hole logged sulfide percentages, resumed Phase I drill holes labelled in red.

 

Figure 5

Kaukua South cross section, looking west showing holes LK20-017, 18 and 22 with down hole visual sulfide percentages.

 

QA/QC

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

Drill core samples were split using a rock saw by Company staff, with half retained in the core box and stored indoors in a secure facility, in Taivalkoski, Finland. The drill core samples were transported by courier from the Company’s core handling facility in Taivalkoski, Finland, to ALS Global (“ALS”) laboratory in Outokumpu, Finland. ALS, is an accredited lab and are ISO compliant (ISO 9001:2008, ISO/IEC 17025:2005). PGE analysis was performed using a 30 grams fire assay with an ICP-MS or ICP-AES finish. Multi-element analyses, including copper and nickel were analysed by four acid digestion using 0.25 grams with an ICP-AES finish.

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

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 and development company targeting district scale, platinum-group-element-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

 

Comstock Mining Announces Participation in Noble Capital Markets Virtual Road Show Series

 

Virginia City, NV (September 29, 2020) Comstock Mining Inc. (the “Company”) (NYSE American: LODE) announced today its participation in Noble Capital Markets’ Virtual Road Show Series, presented by Channelchek, scheduled for this Thursday, October 1, 2020, at 10 AM PDT / 1 PM EDT.

The virtual road show will feature a corporate presentation from Comstock Mining’s Executive Chairman and CEO, Corrado De Gasperis, followed by a Q & A session facilitated by Noble Senior Research Analyst Mark Reichman, including questions submitted by the audience.

There is no charge for this live broadcast of the virtual road show, but limited to the first 100 registrants.

Register Here.

About Comstock Mining Inc.

Comstock Mining Inc. is a Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining that is currently commercializing environment-enhancing, precious-metal-based technologies, products and processes for precious metal recovery. The Company began acquiring properties in the Comstock District in 2003. Since then, the Company has consolidated a significant portion of the Comstock District, amassed the single largest known repository of historical and current geological data on the Comstock region, secured permits, built an infrastructure and completed its first phase of production. The Company continues evaluating and acquiring properties inside and outside the district expanding its footprint and exploring all of our existing and prospective opportunities for further exploration, development and mining. The Company’s goal is to grow per-share value by commercializing environment-enhancing, precious-metal-based products and processes that generate predictable cash flow (throughput) and increase the long-term enterprise value of our northern Nevada based platform.

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. www.channelchek.com email: contact@channelchek.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; 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

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

Comstock Mining Inc.
1200 American Flat Rd
PO Box 1118
Virginia City, NV 89440
http://www.comstockmining.com

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

Tuesday, September 29, 2020

Golden Predator Mining (NTGSF)(GPY:CA)

Drilling Program Begins; Feasibility Study Expected in Q1-21

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

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

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

Drilling program begins. Golden Predator has commenced a 3,000-meter reverse circulation drilling program, along with a 1,000-meter metallurgical core drilling program. Drilling started on September 22 and is expected to be complete by the end of October. While a recent updated technical report confirmed the efficacy of combining four deposits (Canadian, Fosters, Golden and Kokanee) into one elongated pit now named “Keg”, drilling will focus on connecting these four with a fifth deposit known as Lucky. Core drilling samples will be used in leach column tests to confirm whether a coarser crush size results in better recoveries of gold.


Bankable feasibility study (BFS) expected in Q1-21.  A BFS is being completed by Kappes Cassiday & Associates and will include a multi-year mine plan for the advancement of the Brewery Creek project. The BFS will include an inventory of material on the heap to be re-processed and a plan to resume mining of material from leachable resources contained within the licensed area and reported in …

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

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

 

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

 

Exploration drilling of newly expanded porphyry-style targets and In-fill drilling along the Reserve Trend

 

Vancouver, BC, September 28^th, 2020: Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) (the “Company”) today announces the start of its 2020 drill program at its licensed 100%-owned Brewery Creek mine project ?located approximately 55 km by road from Dawson City, Yukon.   The drill program, now underway, will consist of more than 3,000 m of exploration drilling including:

• Wide spaced exploration drilling on new large intrusive porphyry system. Two gold zones–the Classic and Lonestar Zones—have been identified by outcrop, geophysics, surface sampling and previous drilling which was limited to road access along the western margin.  This intrusive has a surface expression in excess of 20km². Initial column leach tests have indicated that this intrusive-hosted mineralization is leachable to at least 200 m in depth.  
• In-fill drilling within a 400 m gap between the Lucky resource area and the Keg resource to increase the density of 2019 drilling, confirm continuity of mineralization between the two deposits and increase resources.  The goal is to incorporate the Lucky resource into the much larger Keg pit shell for mine planning now in progress as a part of the Brewery Creek Bankable Feasibility Study (BFS). 

Brewery Creek maps and a 3D video of resource areas can be viewed at: https://www.youtube.com/watch?v=B29GzHd-3kA  and https://www.goldenpredator.com/_resources/news/GPY-NR20-26-Brewery-Creek-2020-Drilling-Commences-Maps.pdf 

 

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

The drill program, in newly defined extensions of the Classic/Lonestar porphyry-style intrusive, consists of step-outs approximately 1 km or more from existing drilling at the Classic and Lonestar areas.  These holes will be targeted based on 2019 surface sampling and earlier geophysical studies. 

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 more recently discovered Lonestar 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 200m 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 BFS.

Significant Classic Zone intercepts from previous drilling include:

• 30.5 m of 0.84 g/t gold from a depth of 35.1 m;
• 41.2 m of 1.04 g/t gold from a depth of 131.1 m including 3.1 m of 4.25 g/t gold;
• 33.5 m of 0.95 g/t gold from a depth of 99.1 m including 6.1 m of 3.20 g/t gold;
• 200.0 m of 0.38 g/t gold from surface including 10.0 m of 1.10 g/t gold and 38.0 m of 0.90 g/t gold and 19.8 m of 0.71 g/t gold from a depth of 260.6 m;
• 148.0 m of 0.32 g/t gold from a depth of 2.0 m; and
• 134.0 m of 0.34 g/t gold from surface, including 22.0 m of 0.80 g/t gold

The Lonestar mineralized area lies southeast of, and adjacent to, the Classic Zone.  Three styles of mineralization occur at Lonestar; gold in skarns, disseminated gold in intrusive rocks, and gold-bearing sheeted quartz veins. 

Significant intercepts from previous drilling include:

• 32.0 m of
  0.81 g/t gold from a depth of 172.2 m;
• 10.7 m of 1.14 g/t gold from a depth of 25.9 m, and 21.3 m of 2.24 g/t gold from 166.1 m;
• 27.4 m of 1.24 g/t gold from a depth of 1.5 m; and
• 93.0 m of 0.27 g/t gold from the surface.

“We are excited to be exploring these new targets which have the potential to make large additions to our mineral inventory very rapidly. Based on our knowledge of the Classic and Lonestar zones, this porphyry-style system has the advantages of near-surface expression and extensive oxidation when compared to many similar targets attracting attention in the Golden Triangle of BC,” said Golden Predator President Janet Lee-Sheriff.

Keg and Lucky Pitshells – In-fill Drilling

Golden Predator’s successful 2019 program established continuity of mineralization within the licensed Reserve Trend between the eastern edge of the Keg pitshell (formerly the Canadian-Fosters-Kokanee-Golden pits) east to the Lucky pit. We now plan to complete this work with approximately 25 reverse circulation drill holes designed to bring the Lucky pit into the Keg pit. The recent Mineral Resource Estimate Report recommended additional in-fill drilling in this area as a priority item to expand the eastern margin of the Keg pit another 1,000 m along strike to encompass both the gap area and the Lucky resource area. These holes are currently underway to incorporate into the BFS.

Metallurgical Drilling

In addition, approximately 700 m of large diameter (PQ) core drilling will be conducted to obtain samples for further metallurgical testing at the Keg (Canadian-Fosters-Kokanee-Golden) and Lucky zones.  The core samples will be used to conduct additional column leach tests at a coarser crush size of approximately ¾” 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 ¾” crush size.  These tests will also be included in the BFS currently underway.

Both phases of the program commenced on September 22 and are expected to be completed by the end of October. 

Brewery Creek Mine: Resources¹

Materials on the heap leach pad were not included in the resource update.

Mineral Resources estimates conducted within a pit shell developed at $2000/oz gold with an internal cut-off grade calculated at $1500/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 will be filed on SEDAR at www.sedar.com. The Company intends to host a conference call with a Q&A session upon public filing of the Report.

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. 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.

Monday, September 28, 2020

Aurania Resources (AUIAF)(ARU:CA)

Tiria-Shimpia Emerges As a High Priority Epithermal Target

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, Noble Capital Markets, Inc.

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

Drilling is underway at Tsenken N2. Drilling commenced on the Tsenken N2 copper-silver target on September 13 using a man-portable rig to test both porphyry copper targets as well as sedimentary-hosted copper-silver deposits. Tsenken 2 is the first of 5 targets to be drilled at Tsenken. After drilling three to five holes at Tsenken N2, the rig will be moved to test the Tsenken N3 target. Results could be available in late October or early November. Other targets at Tsenken include N4, N1 and B and are expected to be drilled in that order.


Tiria-Shimpia is a high-priority epithermal target.  Soil sampling has defined four main zones of silver that total 15 kilometers in length. Soil sampling at Tiria-Shimpia defined a large mineralized system that covers an area 75 square kilometers on the margin of a large magnetic feature that is interpreted to be a porphyry cluster. The silver zone lies in the central part of an area that contains …

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. 

 

Tesla Is Planning to Mine Lithium to Supply Its Own Cathode Facility

 

Tesla hosted its annual shareholder meeting and “Battery Day” on September 22. The company announced plans to build its own cathode plant in North America and announced rights to a 10,000+ acre lithium clay deposit in Nevada from which it could source lithium using a proprietary extraction and processing technology that could result in a 33% reduction in lithium cost. Elon Musk, CEO, opined that lithium is abundant and every vehicle in the United States could be converted to electric using only lithium that is available in the United States, or Nevada for that matter.

Driving Down Costs

Tesla management indicated that it would build its own cathode plant in North America to leverage North American resources for nickel and lithium. Cathode production would be a part of the Tesla battery cell production plant.

 

Source: 2020 Annual Shareholder Meeting and Battery Day Presentation, Tesla, Inc., September 22, 2020

 

Management explained that the way lithium ends up in the battery cell is through the cathode and the company would conduct on-site lithium conversion using a new sulphate-free process resulting in a 33% reduction in lithium cost using a 100% electric facility that is co-located with the cathode plant. By localizing the cathode supply chain and production, miles traveled by all the materials that end up in the cathode can be reduced by up to 80%.

 

Source: 2020 Annual Shareholder Meeting and Battery Day Presentation, Tesla, Inc., September 22, 2020

However, details were scant regarding the cost of the process and when it could be commercialized. The potential lithium mine and cathode facility, both to be located in North America, are part of the company’s plan to tighten its supply chain to create a less expensive and more efficient battery resulting in a lower price point ($25,000 within three years) for Tesla’s vehicles.

Environmentally Friendly Lithium Extraction Process

Lithium is commonly extracted from brine reservoirs where salt water brine is pumped to the surface and left to evaporate in ponds leaving lithium salts and other minerals which are filtered until the lithium can be extracted. The process is water intensive. Tesla’s new process entails extracting lithium from clay ores in Nevada using sodium chloride, or table salt. Musk stated that the process involves taking a chunk of dirt in the ground, extracting the lithium, and replacing the chunk of dirt so it looks pretty much the same as before. Management claimed that it is as simple as: 1) mix clay with salt, 2) put it in water, and 3) the salt comes out with the lithium. Future recycling of batteries is expected to gradually reduce the need for mining new ore. While it sounds straightforward, the proof will be in the pudding as they say.

Reducing Dependence on Cobalt

Most electric vehicle batteries are lithium-based and include a mix of cobalt, manganese, nickel, graphite, and other components. Companies are researching different battery chemistries to optimize battery technology using components that are the most widely available and at the lowest cost. Tesla’s announcement demonstrates that it is thinking hard about the importance of securing future supplies of raw materials and how their supply chains are configured. During its Battery Day presentation, Tesla management indicated that nickel is the cheapest and the highest energy density metal, and it expects to increase nickel content and eliminate expensive cobalt over time.

 

Source: 2020 Annual Shareholder Meeting and Battery Day Presentation, Tesla, Inc., September 22, 2020

Changes in the design of Tesla batteries are expected to increase the range and power of the vehicle, while at the same time reducing the amount of material used.

Take-Away

Tesla’s battery day may have provided some good news for nickel producers, while creating some uncertainty for lithium producers who might have counted on Tesla as a prospective customer. While the devil will be in the details, Tesla’s plans are conceptually innovative and ambitious.   

 

Suggested Reading:

Cobalt and Rare Earth Metals from the Ocean Floor Eyed to Meet Growing Battery Demand

Expect Today’s Nuclear Technologies to Provide an Important Role in the Future of Energy

This Is What Could Slam the Brakes on EV Growth

 

Enjoy Premium Channelchek Content at No Cost

Each event in our popular Virtual Road Shows Series has a maximum capacity of 100 online investors. To take part, listen to and perhaps get your questions answered, see which virtual investor meeting intrigues you here.

 

Sources:

2020 Annual Shareholder Meeting and Battery Day Presentation, Tesla, Inc., September 22, 2020

Tesla Bets on Mining with Nevada Lithium Claim, Mining.com, Mining.com Editor, September 23, 2020.

The 3 Biggest Things Elon Musk Announced at Tesla’s Big Outdoor Event, Business Insider, Graham Rapier, September 23, 2020.

Tesla Says It Wants to Be a Lithium Miner. That Could Be a Problem for Extractor Stocks, Barron’s, Al Root, September 23, 2020.

Tesla Is Getting into the Mining Business, Buys Lithium Claim on 10,000 Acres in Nevada, Electrek, Fred Lambert, September 23, 2020.

Tesla Plans to Build a Cathode Plant and Get into the Lithium Mining Business, Techcrunch, Kirsten Korosec, September 22, 2020.

An Overview of Commercial Lithium Production, ThoughtCo., Terence Bell, August 21, 2020.

 

 

Comstock Mining Launches Geophysical Surveys of the Southern Comstock District, Dayton Resource Area and Spring Valley Exploration Targets

 

Virginia City, NV (September 22, 2020) Comstock Mining Inc. (the “Company”) (NYSE American: LODE) announced today that Geotech Ltd. (“Geotech”) of Aurora, Canada, began conducting the previously announced airborne geophysical surveys last weekend, including the Dayton resource area, adjacent to Silver City, NV and the contiguous Spring Valley exploration targets all the way to Hwy 50.

Geotech launched its proprietary Versatile Time-Domain Electromagnetic (“VTEM”) geophysical system on Saturday, September 19, 2020, once visibility improved as smoke from the California fires cleared, and plans to complete the survey, by the end of September. The Company expects preliminary scans becoming available by mid-October, and extensive three-dimensional interpreted results later in the fourth quarter.

The results will greatly increase the Company’s understanding of the Dayton resource area and Spring Valley resource expansion potential, along with the Company’s other exploration targets in Lyon County.

Mr. Corrado De Gasperis, Executive Chairman and CEO stated, “Geotech’s proprietary surveys will provide invaluable data, to both corroborate and expand our knowledge of the potential mineralization, in the safest, least disruptive manner, and at depths not previously explored, enabling us to, among other things, refine and finalize a most effective and efficient exploration and development drill program.”

The entire press release can be read HERE

 

Contact information

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

Comstock Mining Inc.
1200 American Flat Rd
PO Box 1118
Virginia City, NV 89440
http://www.comstockmining.com

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

Tuesday, September 22, 2020

Newrange Gold (NRGOF)(NRG:CA)

Moving Up the Learning Curve

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.

Second set of drill results. To date, the company has drilled 34 holes for a total of 3,462 meters of drilling along Pamlico Ridge between an area of high-grade mineralization drilled at the Merritt Decline in 2017 and the historic Gold Bar Mine. Initial results from the first 14 holes, announced on July 30, revealed higher grade structures, up to 9.5 grams of gold per tonne, surrounded by lower grade material. Results from the remaining 20 holes further confirmed gold mineralization on the Pamlico property receptive to heap leach mining. However, based on recent drilling, management realized that the drill rig used was unsuitable for the terrain and many of management’s higher priority targets were not able to be accessed.


Initial results inform the next phase of drilling.  Newrange hired a new contractor with more suitable equipment and drilling resumed on September 19. An additional 35 holes are planned, including diamond drilling later in the program to test targets at depth. With the new drill rig, management expects to be able to drill at the Good Hope Mine at the south end of Pamlico Ridge where Newrange …

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.