Category: Natural Resources

U.S. Gold Corp. Announces Maggie Creek Exploration Update

 

• High potential Nevada exploration project on the Carlin Trend
• Project has similar geological features as and in close proximity to Newmont’s Gold Quarry mine

ELKO, Nev., Oct. 28, 2020 /PRNewswire/ — U.S. Gold Corp. (Nasdaq: USAU) (the “Company”) a gold exploration and development company, is pleased to announce its potential future Maggie Creek exploration plans for the project on the Carlin Trend in Nevada.

The Maggie Creek Project is located in the heart of the Carlin Trend, immediately adjacent to Newmont’s (NYSE: NEM) 26-million-ounce Gold Quarry mine. The Project occurs along the northeast projection of the Gold Quarry fault zone, which is an important mineralizing control at the Gold Quarry mine, indicating the potential to discover Carlin style gold deposits. The recent discoveries at Carlin (Leeville) and Gold Quarry (Chukar) demonstrate the potential for high-grade deposits at depth, which are mostly untested at Maggie Creek. Newmont’s Rainbow deposit occurs immediately south of the Maggie Creek project boundary. U.S. Gold Corp. has an option to earn up to 70% of the Maggie Creek project from Orogen Royalties, Inc. (TSX.V: OGN).

The Company believes Maggie Creek has significant discovery potential and its exploration team and leading consultants are continuously interpreting all the historical drilling and exploration work previously done in the area. Results of a district-wide gravity survey on the Maggie Creek claims were previously announced on May 13, 2020. This new geological information, synthesized with historical district information, has been incorporated in the Company’s future exploration plans. The Maggie Creek exploration program in the future is expected to initially test mineralized gold horizons exposed at surface that are projected to down dip into district-scale structures. Historical drilling at Maggie Creek has been relatively shallow, with a mean depth of just 300 feet. The numerous gold showings within classical stratigraphy and structure that hosts the majority of gold ounces in the Carlin Trend are evident. The same host rocks and fault structures associated with the Gold Quarry Mine, including the Chukar-Alunite Fault Zone, that partly drive the high-grade mineralization at Gold Quarry potentially extend onto the Maggie Creek property. The projection of the Chukar-Alunite fault zone into the Maggie Creek Property where it intersects a strong NW structural corridor presents high priority potential drill targets.

Since acquiring the Maggie Creek option, U.S. Gold Corp. has been busy analyzing historical project data, conducting additional geophysical surveys and planning future exploration efforts. Ken Coleman – the Company’s Senior Project Geologist, has been out on the Maggie Creek claims, seeking to verify historical drill collars and conducting surface geological surveys and reviews. Future geophysical surveys and soil sampling are being designed and are planned for future exploration seasons. In addition, preliminary drilling plans are being formulated using existing and newly generated data.

The Company also engaged Nevada exploration expert Mr. John Norby to conduct a thorough, high-level geological-technical review of the Maggie Creek project. Mr. Norby’s Maggie Creek technical presentation can be viewed at:

www.usgoldcorp.gold/properties/maggie-creek/technical-ppt

Specific drill targets have emerged as a result of Mr. Norby’s work. Of the 241 historic drill holes at Maggie Creek, only 21 were drilled to depths of 1,000 feet or greater. Deeper underground targets in the district are largely untested. There are four initial target areas that will be considered as the focus of the Company’s initial Maggie Creek exploration efforts. These include:

The NE Soap Creek Target:

Local gold intercepts on the Maggie Creek claims may be a distal expression of larger gold concentrations along the Soap Creek fault. There is also potential for stratiform gold layers on the claims in the target area, as several historical drill holes were not drilled deep enough into projected favorable horizons or end in gold mineralization.

The Far North Rainbow Target:

This target is a down-dip continuation of drilled gold mineralization within decalcified upper-plate rocks at the footwall of the Cress fault. There is also potential in the hanging wall of the Cress fault for gold discoveries in similar lithologies.

The North Rainbow at Cress Fault Target:

Historically drilled gold mineralization is present in the Roberts Mountain Formation in the footwall of the Cress Fault. The upper-plate limey units in the hanging wall of the Cress Fault are also a target.

The North Rainbow Target:

This target is a down-dip continuation of drilled gold mineralization in the upper Roberts Mountain Formation, intersecting a mineralized, steeply dipping dike trend and possible sills.

Further updates about U.S. Gold Corp.’s future Maggie Creek exploration plans will be forthcoming.

About U.S. Gold Corp.

U.S. Gold Corp. is a publicly traded, U.S. focused gold exploration and development company. U.S. Gold Corp. has a portfolio of exploration properties. Copper King, now the CK Gold Project, is located in Southeast Wyoming and has a Preliminary Economic Assessment (PEA) technical report, which was completed by Mine Development Associates. Keystone and Maggie Creek are exploration properties on the Cortez and Carlin Trends in Nevada. The Challis Gold Project is located in Idaho. For more information about U.S. Gold Corp., please visit www.usgoldcorp.gold

Safe Harbor

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimated,” and “intend,” among others. These forward-looking statements are based on U.S. Gold Corp.’s current expectations, and actual results could differ materially from such statements. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks arising from: the prevailing market conditions for metal prices and mining industry cost inputs, environmental and regulatory risks, risks faced by junior companies generally engaged in exploration activities, whether U.S. Gold Corp. will be able to raise sufficient capital to implement future exploration programs, COVID-19 uncertainties, and other factors described in the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the Securities and Exchange Commission, which can be reviewed at www.sec.gov. The Company has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory, and other risks, contingencies, and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control. The Company makes no representation or warranty that the information contained herein is complete and accurate and we have no duty to correct or update any information contained herein.

For additional information, please contact:

U.S. Gold Corp. Investor Relations: +1 800 557 4550
ir@usgoldcorp.gold
www.usgoldcorp.gold

SOURCE U.S. Gold Corp.

 

Comstock Mining Announces Notice of Third Quarter 2020 Results and Business Update Conference Call

 

Virginia City, NV (October 27, 2020) Comstock Mining Inc. (the “Company”) (NYSE American: LODE) announced today the Company will host a conference call on Tuesday, November 17, 2020 at 8:00 a.m. Pacific Standard Time/11:00 a.m. Eastern Standard Time to report its Third Quarter financial results and provide a business update. The live call will include a moderated Q&A, after the prepared remarks. 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,
at the Investor’s tab of the Company’s website:
www.comstockmining.com/investors/investor-library

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.

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

 

Chakana Reports 226 Metres Of 0.34 G/T Gold, 0.36% Copper, And 16.9 G/T Silver (1.11 G/T Au-Eq) From 3 Metres At Paloma East – Soledad Project, Peru

 

Including 15 Metres of 2.26 g/t Gold and 16.6 g/t Silver (2.48 Au-eq) from 21 Metres

 

Vancouver, B.C., October 26, 2020 – Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FRA: 1ZX) (the “Company” or “Chakana”), is pleased to provide drill results from four additional holes completed at the Paloma East target at the expanded Soledad Project in Ancash, Peru. These results are part of the Phase 3 drill program, a fully funded 15,000 metre drill program that started August 15, 2020. Phase 3 is testing a tight cluster of high-grade, goldenriched tourmaline breccia pipe targets within the high-priority Paloma area and will then continue onto the Huancarama breccia complex (Fig. 1). Drilling is currently underway at Paloma West where eleven holes have been completed thus far.

Significant mineralized intervals from these four holes at Paloma East include:

Significant intervals of mineralization were encountered in all four holes.

• Elevated gold occurs in the top of holes SDH20-137, SDH20-138, and SDH20-139 with intercepts of 51.0 metres with 1.27 g/t gold and 23.9 g/t silver starting from 6.0 metres depth; 15.0 metres with 2.26 g/t gold and 16.6 g/t silver beginning at 21.0 metres depth; and 31.0 metres with 1.10 g/t gold and 8.8 g/t silver from 3.0 metres depth, respectively.
• In SDH20-138 – a long interval of moderate grade mineralization was intersected with 226.0 metres with 0.34 g/t gold, 0.36 % copper and 16.9 g/t silver (1.11 g/t gold equivalent) from 3.0 metres.
• Higher grade copper intercepts occur in each hole with 6.35 metres of 2.27% copper in SDH20-136 from 49.35 metres; 24.00 metres with 0.80% copper in SDH20-137 from 57.00 metres; 33.00 metres of 0.99% copper in SDH20-138 from 64.00 metres; and 9.45 metres of 1.19% copper in SDH20-139 from 136.45 metres.

Examples of drill core from these holes are shown in Figures 5 and 6.

David Kelley, President and CEO commented, “these four scout drill holes provide additional support for an extensive mineralized breccia system at Paloma. The long runs of mineralized breccia starting near surface and extending to approximately 200 metres depth is encouraging, particularly with indications of high-grade zones within the breccia. The shape of the breccia expands at depth, similar to what we have seen in several other breccia pipes.”

Phase 3 Drill Program Update – 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. Previous surface rock sampling confirmed strong anomalous gold concentrations in both the targeted breccia pipes as well as within several scattered small exposures of breccia and vein-like structures in the Paloma area. The Paloma East target is interpreted as the very top of a breccia pipe with a surface footprint of 25 metres in diameter. All seven holes completed at the Paloma East target (totaling 2,038 metres) have encountered mineralized tourmaline breccia (see news release dated September 17, 2020 for the first three holes).

Based on modeling, the breccia pipe increases from a diameter of 25 metres at surface to approximately 90 metres by 65 metres at a level 160 metres below surface where there is sufficient drill density to assess the geometry (Fig. 3). The main zone of gold-copper-silver mineralization starts at surface and extends to approximately 200 metres depth and is open in several directions. South of the main breccia pipe, two drill holes intersected a related mineralized breccia dike that is below and coincident with the PT Structure (Paloma Trench, Fig. 2), defining a vertical feature with a westnorthwest strike. At surface, nine rock chip breccia samples collected in the trench average 1.96 g/t gold, and 16.3 g/t silver. Directly beneath the trench at 72 metres depth, hole SDH20-139 intersected 9.45 metres with 0.52 g/t gold, 1.19% copper, and 77.0 g/t silver. These two zones correlate with the intercept in SDH20-138, 90 metres to the westnorthwest, of 16.00 metres 0.51 g/t gold, 0.55% copper, and 65.4 g/t silver.

As reported on September 17, 2020, hole SDG20-137, drilled to the southwest from Paloma East toward Paloma West, intersected tourmaline breccia from 14.75 metres to 627 metres depth, excluding a few internal intervals of wallrock interpreted to be large blocks within the breccia. This hole has several mineralized intervals down to 304 metres. Below this point the breccia contains high concentrations of pyrite, calculated to average 22% pyrite from 380 to 498 metres (Fig. 5d). This increase in pyrite occurs within and below the unconformable contact with the volcanic conglomerate and into the lower andesite unit (Fig. 3). Pyrite-rich breccia within the lower andesite seen in Bx 5 and Bx 6 hosts high grade copper zones where late copper fluids have replaced the pyrite (see news releases dated April 2, 2019 and September 10, 2019). This style of replacement mineralization is also noted elsewhere at Paloma East reported here (Fig. 5b, 5f, 5h). The last 53 metres of breccia in this hole, from 574.0-627.0m, has elevated molybdenum, reaching 1,430 ppm and averaging 204 ppm (0.02% Mo) over this interval (Fig. 3). This is interpreted to be related to proximity to an underlying intrusion. The significance of hole SDH20-137 is a significantly expanded breccia system, high concentrations of pyrite where copper replacement may occur, association with a large late-time TDEM anomaly (see below), and evidence of proximity to an underlying intrusion.

Chakana completed a program of time-domain electromagnetic (TDEM) surveys during 2018 based upon an orientation survey from late 2017. This program involved 37 ground loops mostly situated over known pipes. Readings were taken within the loop, a design intended to provide an optimal configuration to identify conductive bodies with “flat” upper surfaces that were 30 to 60 metres in diameter. This work identified several high priority anomalies and many lesscertain features. In the Paloma area both shallow and deep anomalies were detected, one of which was modelled to occur at the depth and position of the pyrite body beginning at 308 metres (Fig. 4). The anomaly extends beyond the limits of the survey grid and the Paloma area, representing a potential target for future exploration.

Kelley added “The deeper mineralization represented by strong pyrite concentrations expands the footprint of the breccia that is open at depth. Pyrite is commonly zoned outward and away from copper mineralization, which forms in the direction of the heat source. The increase in molybdenum in the last 53 metres of breccia supports this zonation towards higher temperatures. We also know from deeper drilling on Bx 1, Bx 5, and Bx 6, that the pyrite zones can be replaced by chalcopyrite, resulting in very high grades. We see this same replacement process within the shallow Paloma East mineralization and the fluids that cause the high-grade copper emanate from depth, increasing the potential for copper replacement within the pyrite zone. We are excited about the potential of this very large breccia system and look forward to seeing continuing results from the Paloma West drilling.”

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. Note: shape of breccia not shown in plan view due to the need for additional drilling. Location of section line for Figure 3 indicated.

Figure 3 – Section looking northwest showing the modeled breccia pipe for Paloma East. Light red 3D shape is based on Leapfrog model of breccia from all holes drilled to date.

Figure 4 – Map showing 2-D late-time conductivity response from time-domain electromagnetics survey at Paloma (Channel 15 z component, contour units in ohm-m).

Figure 5 – Examples of mineralized core from drill holes reported in this release showing different styles of mineralization found in Paloma East: A) SDH20-136 – mosaic breccia; the interval 49.35-55.70m assays 0.16 g/t Au, 2.27% Cu, and 37.6 g/t Ag; B) SDH20-137 – tourmaline mosaic breccia with pyrite matrix; C) SDH20-138 – oxidized shingle breccia; the interval 21.00-30.00m assays 2.50 g/t Au and 18.0 g/t Ag; D) SDH20-138 – shingle and mosaic breccia; the interval 147.0-153.0m assays 0.15 g/t Au, 1.15% Cu, and 17.0 g/t Ag; E) SDH20-138 – mosaic breccia; the interval 212.0-217.0m assays 0.33 g/t Au, 0.64% Cu, and 139.5 g/t Ag; F) SDH20-139 – mosaic breccia; the interval 140.0-145.9m assays 0.53 g/t Au, 1.28% Cu, and 107.3 g/t Ag.

Figure 6 – Detailed core photos from Paloma East: A) SDH20-136 (75.9m) chaotic shingle breccia with chalcopyrite filling vug; B) SDH20-136 (119.6m) silicified mosaic breccia with clast replaced by chalcopyrite; C) SDH20-137 (13.8m) sheeted veining in andesitic tuff wallrock adjacent to breccia; D) SDH20-137 (437.9m) pyrite-cemented tourmaline mosaic breccia; E) SDH20-137 (92.05m) chalcopyrite replacement in silicified mosaic breccia; F) SDH20-137 (149.8m) mosaic breccia with late chalcopyrite replacement; G) SDH20-137 (522.82m) botryoidal pyrite; H) SDH20-138 (150.6) mosaic breccia with late chalcopyrite replacement.

 

 

Palladium One Step Out Hole Yields Highest Grades Yet at Kaukua South

 

October 22, 2020 – Toronto, Ontario – Hole LK20-016 has the best combination of grade and width of all the results from the LK Project to date, said Palladium One Mining Inc. (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) today.

Located 1,350 m east of the most westerly hole in Kaukua South, LK20-016 starting at only 23.5 m down hole, returned 62.7 m at 3.52 g/t of palladium equivalent (Pd_Eq)*, including 18.5 m at 4.58 g/t Pd_Eq (Figure 1).

Key highlights

• In Hole LK20-016, the core interval of 18.5 m at 4.58 g/t Pd_Eq starts near surface at 47.5 m down hole.
• Hole LK20-019 started in mineralization and hit 35.0 m at 2.76 g/t Pd_Eq and also started near surface after 17.3 m of overburden.
• Holes LK20-016 and LK20-019 are located 750 m east of hole LK20-006 (see news release dated August 11, 2020), which returned 166.7 m at 1.16 g/t Pd_Eq, including a core zone of 63.4 m at 1.88 g/t Pd_Eq.
• Holes LK20-016 and LK20-019 are 1,350 m east of hole KAU-08-035, which returned a core zone of 33.0 m at 1.90 g/t Pd_Eq.
• Continuity between holes LK20-006 and LK20-016 demonstrates potential to rapidly add ounces, providing the opportunity to significantly increase the existing NI 43-101 Kaukua open pit resource.
• All holes drilled in the Kaukua South Extension have returned PGE-Ni-Cu mineralization and are open along strike and at depth.

“Of the 11 discovery holes drilled at Kaukua South, hole LK20-016 is the highest-grade drilled to date. The robust intercepts strengthen our belief that there are many more ounces than initially thought at our LK Project in Finland. We look forward to receiving assay results for the remaining three exploration holes drilled at Murtolampi, only 2 kilometers north of Kaukua.” said Derrick Weyrauch, President and Chief Executive Officer. “Each additional impressive drill result brings us closer to realizing our belief that the Kaukua area hosts a large-scale, shallow, mineralized system with significant continuity.”

Palladium One has now confirmed PGE-Ni-Cu mineralization over 4 km of strike length at the Kaukua South zone and the zone remains open laterally for expansion both to the east and west, as well as depth (Figure 1 and 2).

As the size of the Kaukua South zone has grown so has its complexity. Holes in the western half of the zone have very high PGEs and lower Cu-Ni grades similar to the Kaukua deposit, whereas the eastern half have lower PGEs and higher Cu-Ni grades, more similar to the Haukiaho trend (see news releases on May 26, 2020 and September 15, 2020). This change in PGE tenor occurs within a 1.5 km gap in the drilling between holes LK20-016 and LK20-017 (Figure 1, 2 and 3). More drilling is required to define exactly where this change in PGE tenor occurs. Additionally, regional magnetic data indicate there is over 2 km of strike length to Kaukua South beyond LK20-021, the further east hole. This area remains to be drill tested.

Phase II Infill Drill Program

Based on the positive results to date from the Phase I Exploration Drill Program, planning is under way to determine if it is feasible to restart drilling before year end.

Figure 1

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

Figure 2

Kaukua South Long section looking north, showing IP Chargeability isoshells and Pd_Eq grade for resumed Phase I drill holes labelled in red.

Figure 3

Kaukua South cross section, looking west showing hole LK20-016 and 019.

Table 1: Resumed Phase 1 Drill Results from Kaukua South Zone

*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. This calculation is consistent with the calculation in the Company’s September 2019 NI 43-101 Kaukua resource estimate.

QA/QC

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

Drill core samples were split using a rock saw by Company staff, with half retained in the core box 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 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.

Canada Nickel Company Announces Significant Mineral Resource Update at Crawford Nickel-Cobalt Sulphide Project

 

Highlights

• Resource update more than doubles Measured and Inferred resources
  • Main Higher Grade Zone Measured resource increased by 162% to 153 Mt at 0.32% nickel (485 kt nickel). Total M&I resource increased by 9% to 657 Mt at 0.26% nickel (1.7 Mt nickel).
  • Total Inferred resource increased by 121% to 646 Mt at 0.24% nickel (1.6 Mt nickel) including an increase of 50% in Main Zone (433 Mt @ 0.23% nickel) and an initial resource from East Zone of 213 Mt at 0.24% nickel (505 kt nickel).
• Significant exploration potential remains with approximately 50% of Crawford structure untested and is now actively being explored. The Main Zone remains open to the west and the East Zone has more than 2.8 kilometres of strike length (40%) remaining to be drilled.

 

TORONTO, October 21, 2020 – Canada Nickel Company Inc. (TSX-V:CNC) (“Canada Nickel” or the “Company“) today announced an updated mineral resource for its 100% owned Crawford Nickel-Cobalt Sulphide Project (“Crawford”) near Timmins, Ontario which more than doubles mineral resources in both Measured and Inferred resource categories. This report includes a resource update for its previously reported Main Zone and an initial resource for its East Zone.

Mark Selby, Chair and CEO of Canada Nickel commented, “This latest drilling phase did an outstanding job of delivering on both of its key objectives – better defining and increasing the Main-Higher Grade Zone and establishing an initial resource in the East Zone. With a 162% increase in the Measured High Grade Zone nickel content, a 121% increase in total inferred resources, and an initial East Zone resource, this resource update puts us in excellent position for the delivery of a Preliminary Economic Analysis (“PEA”) by year-end. I look forward to continued drilling results as we explore several highly prospective nickel and PGM targets at Crawford, and to completing the remaining metallurgical and engineering testing for the PEA. With the recently completed financing, the Company is well-positioned to aggressively advance Crawford towards a Feasibility Study expected by year-end 2021.”

The Crawford Nickel-Cobalt Sulphide Project is located in the heart of the prolific Timmins-Cochrane mining camp in Ontario, Canada, and is adjacent to well-established, major infrastructure associated with over 100 years of regional mining activity. Canada Nickel has launched wholly-owned NetZero Metals Inc. with the aim to develop zero-carbon production of nickel, cobalt, and iron at the Crawford Project.

Crawford Mineral Resource Estimate Update

For the update to the initial Mineral Resource Estimate, a total of 30,519 metres of core drilling in 62 drill holes was utilized to calculate the Mineral Resources in the three categories as provided in Table 1 below, and specifically Measured + Indicated Resources of 657 million tonnes grading 0.26% Ni and Inferred Resources of 646 million tonnes grading 0.24% Ni. A cut-off grade of 0.15% Ni was used for the low-grade domain and 0.25% Ni for the higher-grade domain (Higher Grade Core) of the Mineral Resource Estimate. Example cross-section and block model views of the resource estimate are provided in Figures 1 through 5 below.

The drilling program was launched in the fourth quarter of 2019, continued through 2020, and achieved the objectives of finding extensions around the initial resource and new areas of mineralization, as well as proving up the extension and the continuity of the mineralization.

The higher grade mineralization at Crawford has been significantly expanded. This resource update increased the contained nickel in the 0.35% grade shell by 96% to 208kt (58 Mt at 0.36% nickel) and in the 0.30% grade shell by 109% to 683kt (201 Mt at 0.34% nickel).

Canada Nickel announced on May 19, 2020 the discovery of the East Zone. After an 11-hole, 5,328-metres drilling campaign, Canada Nickel is pleased to declare an initial Measured + Indicated Resources on the East Zone of 47.9 million tonnes grading 0.26% Ni and Inferred Resources of 213.2 million tonnes grading 0.24% Ni. A cut-off grade of 0.15% Ni was used.

This Mineral Resource Estimate was prepared by Caracle Creek International Consulting Inc. in accordance with CIM Definition Standards on Mineral Resources and Reserves. A Technical Report in support of the Mineral Resource Estimate will be filed on SEDAR (https://www.sedar.com) within 45 days. The Mineral Resource Estimate is effective as of October 18, 2020.

Table 1 – Updated Total Mineral Resource Estimate for the Crawford Nickel-Cobalt Sulphide Project, Ontario

1. The independent Qualified Person for the Mineral Resource Estimate, as defined by NI 43-101, is Mr. Luis Oviedo, P.Geo. (Chilean Mining Commission: RM, CMC #013), of Caracle Creek International Consulting Inc. and Atticus Chile S.A. The effective date of the Mineral Resource Estimate is October 18, 2020.
2. These Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred Resources in this Mineral Resource Estimate are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as Indicated or Measured, however it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
3. A cut-off grade of 0.15% Ni was used for the low-grade domains (Main and East zones) and cut-off grades of 0.25% Ni (Main Zone) and 0.21% Ni (East Zone) were used for the high-grade domains. Cut-offs were determined on the basis of core assay geostatistics and drill core lithologies for the deposit, and by comparison to analogous deposit types. Given the current stage of the Project, the mineral resources contained within the Main and East zone deposits have not been constrained by open pit optimization. The Company is planning to complete open pit optimization and present pit-constrained mineral resources as part of its Preliminary Economic Assessment (“PEA”) scheduled to be completed by year-end 2020.
4. Geological and block models for the Mineral Resource Estimate used data from a total of 62 surface drill holes (51 in the Main Zone and 11 in the East Zone), completed by Spruce Ridge Resources (4 holes in 2018) and Noble Mineral Exploration and Canada Nickel Company (58 holes in 2019-2020). The drill database was validated prior to resource estimation and QA/QC checks were made using industry-standard control charts for blanks, core duplicates and commercial certified reference material inserted into assay batches by CNC and by comparison of umpire assays performed at a second laboratory.
5. Estimates in Table 1 have been rounded to two significant figures.
6. The Mineral Resource Estimate was prepared following the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines (November 29, 2019).

MAIN ZONE

7. The geological model as applied to the Mineral Resource Estimate for the Main Zone comprises three mineralized domains hosted by variably serpentinized ultramafic rocks: a relatively high-grade core (largely dunite) and two northern and southern lower grade envelopes (combination of dunite and peridotite). Individual wireframes were created for each domain.
8. The block model was prepared using Micromine 2020. A 12 m x 12 m x 9 m block model was created and samples were composited at 4.5 m intervals. Grade estimation from drill hole data was carried out for Ni, Co, Fe, S, Pd and Pt using the Ordinary Kriging interpolation method.
9. Grade estimation was validated by comparison of input and output statistics (nearest neighbour and inverse distance cubed), swath plot analysis, and by visual inspection of the assay data, block model, and grade shells in cross-sections.
10. Density estimation was carried out for the mineralized domains using the Ordinary Kriging interpolation method, on the basis of 3,270 specific gravity measurements collected during the core logging process, using the same block model parameters of the grade estimation. As a reference, the average estimated density value within the high-grade is 2.64 g/cm3 (t/m3), while low-grade domains of the resource model yielded averages of 2.63 g/cm3 (t/m3) in the north and 2.71 g/cm3 (t/m3) in the south.

EAST ZONE

11. The geological model as applied to the Mineral Resource Estimate for the East Zone comprises three mineralized domains hosted by variably serpentinized ultramafic rocks: a relatively high-grade core (largely dunite) and two northern and southern lower grade envelopes (largely peridotite). Individual wireframes were created for each domain.
12. The block model was prepared using Micromine 2020. A 20 m x 20 m x 15 m block model was created and samples were composited at 3 m intervals. Grade estimation from drill hole data was carried out for Ni, Co, Fe and S using the Inverse Distance Squared method.
13. Grade estimation was validated by comparison of input and output statistics (nearest neighbour), swath plot analysis, and by visual inspection of the assay data, block model, and grade shells in cross-sections.
14. An average bulk density value for each mineralized domain was calculated on the basis of 244 specific gravity measurements collected during the core logging process. Blocks within the high-grade were assigned a single bulk density value of 2.62 g/cm3 (t/m3), while low-grade domains of the resource model were assigned single bulk density values of 2.66 g/cm3 (t/m3) in the north and 2.72 g/cm3 (t/m3) in the south.

Figure 1 – Plan view of Main Zone & East Zone Nickel Resources, Crawford Nickel-Cobalt Sulphide Project, Ontario.

Figure 2 – Crawford Nickel-Cobalt Sulphide Project – Main Zone Sections (625E, 175E, 375E) With Resource Boundaries & 0.3% and 0.35% Grade Shells

Figure 3 – Plan View of Main Zone Resource at the Crawford Nickel-Cobalt Sulphide Project, Ontario.

Figure 4 – Plan View of Main Zone – Comparison of Current and Prior Mineral Resource and Grade Shells at the Crawford Nickel-Cobalt Sulphide Project, Ontario.

Figure 5 – Cross-section of the East Zone Mineral Resource, Crawford Nickel-Cobalt Sulphide Project, Ontario.

Next Steps

• A technical report with respect to the Mineral Resource Estimate Update disclosed today will be filed within 45 days as required by The National Instrument 43-101.
• Mineralogical studies and metallurgical testwork will continue through the fourth quarter of 2020, and will be incorporated into the PEA expected to be completed by the end of 2020.
• Drilling has begun on other prospective geophysical targets on the several kilometres of the Crawford structure, including those which were previously untested on the west side of the highway. An airborne geophysical survey on regional option properties has been completed and interpretation work now underway will inform a regional drilling program expected to be completed this winter. See Figure 6.

Figure 6 – Planned and Previous Airborne Geophysical Survey Areas over Crawford, Kingsmill, Nesbitt-Aubin, Nesbit North, MacDiarmid and Mahaffy-Aubin Properties, Ontario.

Issuance of Shares

The Company also announced today that it will be issuing a total of 200,000 of its common shares to third parties in satisfaction of certain contractual obligations. The shares will be subject to a four-month hold period under applicable securities laws.

Conference Call Details

Canada Nickel is hosting a live Q&A conference call on October 22 at 10:00 a.m. Eastern time (7:00 a.m. Pacific time). Participants may join the call by dialing:
Local: Toronto: 416-764-8688
North American Toll Free: 888-390-0546
Webcast URL: https://produceredition.webcasts.com/starthere.jsp?ei=1389471&tp_key=79c1b4fb17

A playback version will be available for two weeks after the call at +1-416-764-8677 (local or international) or toll free at +1-888-390-0541 (passcode 442999#).

Assays, Quality Assurance/Quality Control and Drilling and Assay Procedures

William E. MacRae, MSc, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the on-going drilling and sampling program, including quality assurance (QA) and quality control (QC). The core is collected from the drill in sealed core trays and transported to the core logging facility. The core is marked and sampled at 1.5 metre lengths and cut with a diamond blade saw. Samples are bagged with QA/QC samples inserted in batches of 35 samples per lot. Samples are transported in secure bags directly from the Canada Nickel core shack to Actlabs Timmins, an ISO/IEC 17025 accredited lab. Analysis for precious metals (gold, platinum and palladium) are completed by Fire Assay while analysis for nickel, cobalt, sulphur and 17 other elements are performed using a peroxide fusion and ICP-OES analysis. Certified standards and blanks are inserted at a rate of one QA/QC sample per 32 core samples making a batch of 35 samples that are submitted for analysis.

Qualified Person and Data Verification

Dr. Scott Jobin-Bevans (P.Geo., APGO #0183), independent of the Company and a Qualified Person as defined by NI 43-101, has reviewed and approved the scientific and technical content of this news release. The independent Qualified Person for the Mineral Resource Estimate, as defined by NI 43-101, is Mr. Luis Oviedo (P.Geo., Chilean Mining Commission: RM, CMC #013), of Caracle Creek International Consulting Inc. and Atticus Chile S.A. The Quality Control-Quality Assurance review was conducted by independent engineer Mr. John Siriunas (P.Eng., APEO #42706010), a Qualified Person as defined by NI 43-101.

About Canada Nickel Company

Canada Nickel Company Inc. is advancing the next generation of nickel-cobalt sulphide projects to deliver nickel and cobalt required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero NickelTM, NetZero CobaltTM, NetZero IronTM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel and cobalt in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, drill results relating to the Crawford Nickel-Cobalt Sulphide Project, the potential of the Crawford Nickel-Cobalt Sulphide Project, timing of economic studies and resource estimates, strategic plans, including future exploration and development results, and corporate and technical objectives. Forward-looking information is necessarily based upon a number of assumptions 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. Factors that could affect the outcome include, among others: future prices and the supply of metals, the future demand for metals, the results of drilling, inability to raise the money necessary to incur the expenditures required to retain and advance the property, environmental liabilities (known and unknown), general business, economic, competitive, political and social uncertainties, results of exploration programs, timing of the updated resource estimate, risks of the mining industry, delays in obtaining governmental approvals, and failure to obtain regulatory or shareholder approvals. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Canada Nickel 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.

For further information, please contact:

Mark Selby, Chair and CEO
Phone: 647-256-1954
Email: info@canadanickel.com

 

Viscount Mining Samples 1925 G/t Silver And 76g/t Gold And Adds Claims At Cherry Creek Property In Nevada

 

VANCOUVER, Canada –- (October 20, 2020) Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) (“Viscount” or “the Company”) has expanded the claim block on their 100% controlled Cherry Creek Project in eastern White Pine County, Nevada. The company staked 24 unpatented lode claims in the southeast part of the project, adjacent to an area of prolific historic gold and silver mining. Precious metal mineralization in the area commonly occurs in quartz veins with several distinct orientations hosted by quartzite and interbedded phyllite. Review and reinterpretation of existing surface geochemical data identified three untested gold and silver exploration targets, including: New Century Mine East, Rattlesnake Canyon and Nitown.

The New Century Mine is a historic gold and silver producer on the east end of an east-west trending mineralized vein that includes the past-producing Exchequer Mine. Gold and silver ore in the New Century occurred in near-vertical quartz veins and breccia zones in a quartzite host rock. The East New Century Mine target occurs along a projected eastern extension of the New Century vein. The extension is defined by an east-striking quartz vein, with local large resistant outcrops of jasperoid and silicified quartz breccia that occur at intersections between the veins and north-striking high-angle faults. A sample of a brecciated quartz vein outcrop along the eastern extension contained a gold concentration of 1.69 g/t and 320 g/t Ag. Another sample taken approximately 600 meters to the east of the previous sample, contained 16.95 g/t Au and 1925 g/t Ag. This indicates that the extension could have a strike length on the order of 800 meters. Jasperoid breccia outcrops contained elevated gold (0.034 g/t) and silver concentrations (2.65 g/t), although were not extensively sampled.

Further east of the New Century Mine, samples from the dumps of two small prospects in the Rattlesnake Canyon area contained gold concentrations of 76 g/t and 7.5 g/t. The samples came from quartz veins that possibly strike to the north in quartzite. The 76 g/t sample represents the highest gold value in a rock-chip sample on the Cherry Creek project. Beyond local rock-chip sampling, little exploration or evaluation work has been done in this area.

The Nitown target occurs along a ridge with scattered workings and mining disturbance several hundred meters southeast of the Star Mine, the largest historic gold and silver mine on the property. The exploration target is defined by gold concentrations in soil samples. The gold in soils anomaly includes four soil samples of greater than 100 ppb Au, two of which are greater than 700 ppb Au. The samples occur in an elongated southeast trend that is approximately 800 meters long. Rock-chip sampling, additional geologic mapping, and possible trenching are warranted to evaluate this target.

Work plans are currently being formulated to evaluate these targets along with other known targets on the property.

QC and Analytical Procedures

The soil and rock chip analytical packages have been conducted by ALS Labs Limited, of Elko, Nevada. Soil samples were collected and analyzed by a 58 elements via ME-MS61 and AuAA-23, with over limit analyses for Au, Ag, Pb, Zn and Cu. Rock Chip samples were collected and analyzed by a 58 elements via ME-MS61 and AuAA-23, with over limit analyses for Au, Ag, Pb, Zn and Cu. Consult the ALS website for more information on the analytical packages being used on the Cherry Creek samples.

Qualified Persons

The scientific and technical information contained in this news release has been reviewed and approved by Harald Hoegberg PG, an independent consulting geologist who is a “Qualified Person” (QP) as such term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

About Viscount Mining (TSX VENTURE: VML) (OTCQB: VLMGF)

Viscount Mining is a project generator and an exploration company with a portfolio of silver and gold properties in the Western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada.

The Silver Cliff property in Colorado lies within the historic Hardscrabble Silver District in the Wet Mountain Valley, Custer County, south-central Colorado. It is located 44 miles WSW of Pueblo, Colorado, and has year-around access by paved road. The property consists of 2,319.48 hectares where high grade silver, gold and base metal production came from numerous mines during the period 1878 to the early 1900’s. The property underwent substantial exploration between 1967 and 1984.

The property is interpreted to encompass a portion of a large caldera and highly altered sequence of tertiary rhyolitic flows and fragmental units which offers potential to host deposits with both precious and base metals. This has been demonstrated in the mineralization historically extracted from the numerous underground and surface mining operations. Drilling in the 1980s by Tenneco resulted in a historical pre-feasibility study on which basis it was planned to bring the property to production. The plan was abandoned following a takeover by another company.

The Cherry Creek exploration property is in an area commonly known as the Cherry Creek Mining District, located approximately 50 miles north of the town of Ely, White Pine County, Nevada. Cherry Creek consists of 293 unpatented and patented claims as well as mill rights and is comprised of more than 2,442 hectares. Cherry Creek includes more than 20 past producing mines.

For additional information regarding the above noted property and other corporate information, please visit the Company’s website at www.viscountmining.com

 

ON BEHALF OF THE BOARD OF DIRECTORS

“Jim MacKenzie”
President, CEO and Director

For further information, please contact:

Viscount Investor Relations
Email: info@viscountmining.com

FORWARD-LOOKING STATEMENTS

This news release includes certain statements that may be deemed “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to Viscount Mining’s operations, exploration and development plans, expansion plans, estimates, expectations, forecasts, objectives, predictions and projections of the future. Specifically, this news release contains forward looking statements with respect to the Offering, the receipt of required approvals, the timing of thereof and the amount and use of proceeds therefrom. Generally, forward-looking statements can be identified by the forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “projects”, “intends”, “anticipates”, or “does not anticipate”, or “believes”, or “variations of such words and phrases or state that certain actions, events or results “may”, “can”, “could”, “would”, “might”, or “will” be taken”, “occur” or “be achieved”. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Viscount Mining to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and development and operation of Viscount Mining’s projects, the actual results of current exploration, development activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future precious metals prices, as well as those factors discussed in the sections relating to risk factors of our business filed in Viscount Mining’s required securities filings on SEDAR. Although Viscount Mining has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.

There can be no assurance that any forward-looking statements will prove accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Viscount Mining does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Troilus Wins “Excellence In Sustainable Development” Award At XPLOR 2020

 

October 19, 2020, Toronto, Ontario – Troilus Gold Corp. (TSX: TLG) (OTCQB: CHXMF) (“Troilus” or the “Company”) is proud to announce that it is the recipient of the “Excellence in Sustainable Development” award presented annually by the Quebec Mineral Exploration Association (AEMQ), for the advancement of its 100%-owned Troilus Gold Project, located northeast of Chibougamau, Quebec, within the Frôtet-Evans Greenstone Belt. The Excellence in Sustainable Development is awarded to a company that has exhibited high standards in sustainable development during the year.

The award was accepted by Justin Reid, CEO of Troilus, on behalf of the Company at AEMQ’s XPLOR 2020 Virtual Award Ceremony on October 19, 2020. Award recipients are selected by a committee reporting to AEMQ’s Board of Directors, who make their selections based on an evaluation of the work, projects and research carried out during the year by AEMQ’s +140 corporate members.

Justin Reid, CEO and Director of Troilus, commented, “We couldn’t be more proud to have been selected as the winner of the Excellence in Sustainable Development Award from an esteemed field of finalists who represent some of the highest quality mining operations in Quebec and Canada. We at Troilus believe that our job is not only to deliver returns to shareholders, but to make sure the decisions we make now will have a long-lasting positive impact on all of our stakeholders. Earlier this year we became the first Quebec mineral exploration company to obtain UL 2723: ECOLOGO Certification Program for Mineral Exploration Companies, a new third party standard launched by AEMQ in November 2019 to validate, recognize and promote environmental, social and economic best practices. This recognition by AEMQ is a testament to the hard work and dedication of our entire team as well as our commitment to the highest environmental and social standards as we continue to advance the Troilus Gold project.”

To learn more about Sustainability at Troilus, please visit www.troilusgold.com

About Troilus Gold Corp.

Troilus is a Toronto-based, Quebec focused, advanced stage exploration and early-development company focused on the mineral expansion and potential mine re-start of the former gold and copper Troilus mine. The 107,326 hectare Troilus property is located within the Frotêt-Evans Greenstone Belt in Quebec, Canada. From 1996 to 2010, Inmet Mining Corporation operated the Troilus project as an open pit mine, producing more than 2,000,000 ounces of gold and nearly 70,000 tonnes of copper.

For more information:

Justin Reid
Chief Executive Officer
+1 (647) 276-0050 x 1305
Justin.reid@troilusgold.com

Paul Pint
President

+1 (416) 602-1050
paul.pint@troilusgold.com

Cautionary Note Regarding Forward-Looking Statements and Information

Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability; the estimate of Mineral Resources in the updated Mineral Resource statement may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. There is no certainty that the Indicated Mineral Resources will be converted to the Probable Mineral Reserve category, and there is no certainty that the updated Mineral Resource statement will be realized.

This press release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the impact of the likelihood of the Company receiving the awards and the impact in the event the Company is successful, the planned drill program and results on the Company, the reliability of historical estimates and the likelihood that they will be updated to current mineral resource estimates, the possible economics of the project, the Company’s understanding of the project; the development potential and timetable of the project; the estimation of mineral resources; realization of mineral resource estimates; the timing and amount of estimated future exploration; the anticipated results of the Company’s 2020 drill program and their possible impact on the potential size of the mineral resource estimate; the impact of the novel coronavirus (COVID-19) and the considerable uncertainties about the geographic, social and economic impact on the Company of its continuing global spread costs of future activities; capital and operating expenditures; success of exploration activities; the anticipated ability of investors to continue benefiting from the Company’s low discovery costs, technical expertise and support from local communities. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “continue”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are made based upon certain assumptions and other important facts that, if untrue, could cause the actual results, performances or achievements of Troilus to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Troilus will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, currency fluctuations, the global economic climate, dilution, share price volatility and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Troilus to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the impact the COVID 19 pandemic may have on the Company’s activities (including without limitation on its employees and suppliers) and the economy in general; the impact of the recovery post COVID 19 pandemic and its impact on gold and other metals; there being no assurance that the exploration program or programs of the Company will result in expanded mineral resources; risks and uncertainties inherent to mineral resource estimates; the high degree of uncertainties inherent to preliminary economic assessments and other mining and economic studies which are based to a significant extent on various assumptions; variations in gold prices and other precious metals, exchange rate fluctuations; variations in cost of supplies and labour; receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future gold and other metal prices; accidents, labour disputes and shortages; environmental and other risks of the mining industry, including without limitation, risks and uncertainties discussed in the Technical Report and in other continuous disclosure documents of the Company available under the Company’s profile at www.sedar.com. Although Troilus has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Troilus does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

Troilus Gold Corp.
36 Lombard Street, Floor 4
Toronto, Ontario
M5C 2X3
Canada

Tel: +1 647.276.0050
Email: info@troilusgold.com

 

Palladium One discovers 600 m mineralized strike length at Murtolampi, discoveries now total 4.6 km of strike length in Greater Kaukua Area

 

October 20, 2020 – Vancouver, British Columbia – Additional visual results from core logging of the resumed Phase I drill program at the LK Project in Finland have retuned wide zones of magmatic sulfide mineralization at Murtolampi, located less than 2 kilometers north of the Kaukua Deposit, said Palladium One Mining Inc. (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) today.

Key highlights

• New discovery suggests magmatic sulfide mineralization extends over greater than a 600 m strike length.
• Targeting induced polarization (IP) chargeability anomalies continues to result in PGE-Cu-Ni mineralization discoveries.
• Three drill holes tested the Murtolampi Zone, two of which intersected magmatic sulfide mineralization ranging from 40 m to 70 m in length (drilled core length).
• The Murtolampi zone could rapidly add near surface tonnes to existing NI 43-101 resources.

“We are excited to report this second discovery. Initial results from Murtolampi indicate that it could form a significant satellite open pit resource, adding to the Kaukua deposit, which is located less than 2 kilometers to the south,” said Derrick Weyrauch, President and Chief Executive Officer.

Summary:

• Drilling has extended magmatic sulfide mineralization in Murtolampi over 600 m southwest of hole LK20-012 which returned 20.2 m at 2.26 g/t palladium equivalent (Pd_Eq)*, within 87.2 m @ 1.43 g/t Pd_Eq (see news release dated August 25, 2020) (Figure 1).
• Surface sampling at Murtolampi, previously returned 4.9 g/t Pd_Eq, including 3.11 g/t PGE (see news release August 12, 2019).
• Disseminated to blebby magmatic sulfides, averaging 1-2% but locally up to 10%, consisting of chalcopyrite and pyrrhotite occur within intercepts ranging from 40 m to 70 m (drilled core length).
• Sulfide mineralization occurs in peridotite and is similar to hole LK20-012 and historic GTK (Geological Survey of Finland) drill holes.
• Murtolampi has many similarities to the Kaukua deposit, notably high tenor PGE mineralization.

Phase 1 Drill Program Update

The Company has completed logging and sampling 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. Additional assay results are expected within the next few weeks.

* 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. This calculation is consistent with the calculation in the Company’s September 2019 NI 43-101 Kaukua resource estimate.

New video on the LK Project, located in Finland

A new two-minute video introduction has been added to the Company’s website. The video is a quick introduction to Palladium One Mining, and outlines where the Company is targeting large-scale platinum-group-element (PGE)-copper-nickel deposits in Finland.

This video covers:

• location, infrastructure, and land tenure
• IP chargeability anomalies
• exploration drilling and resource potential in the Kaukua South/East zone of the LK Project

 

Figure 1

This figure shows the greater Kaukua Area, the NI 43-101 compliant Kaukua Open Pit resource, Murtolampi and Kaukua South zones. The resumed Phase I drill holes are labelled in red.

Figure 2

Murtolampi disseminated to blebby chalcopyrite-rich magmatic sulfide from holes LK20-024 (A) and LK20-026 (B) located 600 m apart

Figure 3

Murtolampi Long section looking northwest, showing IP Chargeability isoshells, mineralized peridotite and down hole logged sulfide percentages, resumed Phase I drill holes labelled in red.

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 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.

Sierra Metals Announces Positive Preliminary Economic Assessment Results for Doubling Output at Its Bolivar Mine in Mexico to 10,000 Tonnes Per Day

After Tax NPV of US$283 Million

---

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) is pleased to report the results of a Preliminary Economic Assessment (“PEA”) regarding the Company’s Bolivar Mine, located in Chihuahua State, Mexico.

This PEA report was prepared as a National Instrument 43-101 Technical Report for Sierra Metals Inc. (“Sierra Metals”) by SRK Consulting (Canada) Inc. (“SRK”).The full technical report will be filed on SEDAR within 45 days of this news release.

Highlights of the PEA include:

• After-tax Net Present Value (NPV): US$283 Million at an 8% discount rate
• Incremental benefit of increasing the production to 10,000 TPD from 5,000 TPD is estimated to have an after tax NPV (@8%) of US$57.4 million, and IRR of 27.9%
• Net After-tax Cash Flow: US$521 Million
• Life of Mine & Sustaining Capital Cost: US$317 Million
• Total Operating Unit Cost: US$19.77/tonne and US$1.16/lb copper equivalent
• Plant Processing Rate after expansion: 10,000 tonnes per day (TPD)
• Average LOM Copper Grade 0.72%
• Copper Price Assumption US$3.05/lb
• MineLife: 14 years based on existing Mineral Resource Estimate
• Life of Mine Copper Payable Production: 583 million pounds

Luis Marchese, CEO of Sierra Metals commented:
“I am very encouraged by the results of this PEA which support the Company’s organic growth strategy and plan to profitably develop and grow the Bolivar Mine production rate to 10,000 TPD in 2024 from today’s capacity of 5,000 TPD, based on current analyst consensus metal price estimates. The Company plans to continue with its disciplined approach of profitable growth and now plans to proceed with the next step of the completion of a prefeasibility study to further de-risk the plan and determine the best path forward.”

He continued “The PEA study compared the value of the current operations at Bolivar at 5,000 TPD against several output expansion alternatives from 7,000 to 15,000 TPD and determined 10,000 TPD as the optimum production level based on our current mineral resource base. We note that the estimated value for Bolivar at 5,000 TPD using current analyst estimates at US$225 million, was roughly in-line with the value estimated in our 2018 PEA ($214 million) which justified our expansion to 5,000TPD two years ago. The value could be further increased by the potential sale of magnetite (iron ore) as a by-product and recent exploration drilling which could further increase the resources and value of our asset, as they get incorporated into future operating plans.”

He concluded, “We are continuing with our strategy to increase the value of the company on a per share basis. This builds upon the demonstrated success we have shown with increasing our current mineral resource base and improving the throughput at all mines. We expect these positive developments to further improve profitability and cashflow for the Company and all shareholders this coming year as well as in the future.”

Mineral Resource Estimate

The property is located in the Piedras Verdes District of Chihuahua State, Mexico, approximately 250 kilometers southwest of the city of Chihuahua and consists of 14 mineral concessions (6,800 hectares). The Bolivar deposit is a Cu-Zn skarn and is one of many precious and base metal deposits of the Sierra Madre belt, which trends north-northwest across the states of Chihuahua, Durango, and Sonora in northwestern Mexico (Meinert, 2007). Mineralization exhibits strong stratigraphic control, and two stratigraphic horizons host the bulk of the mineralization: an upper calcic horizon, which predominantly hosts Zn-rich mineralization, and a lower dolomitic horizon, which predominantly hosts Cu-rich mineralization. In both cases, the highest grades are developed where structures and associated breccia zones cross these favorable horizons near skarn-marble contacts.

This PEA considers depleted measured, indicated, and inferred resources reported in 2019 by SRK and effective as of December 31, 2019. The results of this PEA shown in Table 1-1 are indicative of conceptual potential and are not definitive.

Table 1-1: Summary of Mineral Resources estimate as reported by SRK,2020 (Effective December 31, 2019)

Source: SRK, 2020

1. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
2. All figures are rounded to reflect the relative accuracy of the estimates.
3. Mineral resources are reported at a value per tonne cut-off of US$24.25/t using the following metal prices and recoveries; Cu at US$3.08/t and 88% recovery; Ag at US$17.82/oz and 78.6% recovery, Au at US$1,354/oz and 62.9% recovery.

Mining Methodology

Bolivar is a producing operation. The primary mining method at Bolivar is underground room and pillar mining. Previous mining at Bolivar has sometimes used lower cost and more productive long hole stope mining in areas where the mineralized zones have a steeper dip angle, and the mine plans to undertake a geotechnical assessment program in 2020/2021 to expand the use of long hole mining.

Mineral Processing

The Piedras Verdes Plant, located 5.1 kilometers from the Bolivar Mine, uses a conventional crushing-grinding-flotation circuit to recover mineralized mineral and to produce commercial quality copper concentrates with silver and gold by-product credits. Mineral is delivered from the mine to the plant in 18-tonne trucks. The mine is constructing an underground tunnel that will enable mineralized material to be delivered via underground truck transport to a portal adjacent to the mill. This development will eliminate the impact of bad weather on the current surface truck haulage system and will provide a lower cost and more reliable method of delivering mineralized material to the plant.

Mineral processing and the recovery of the mineral is demonstrated, and copper, silver and gold recoveries are established at 88%, 78.7% and 62.43% respectively.

The Piedras Verdes Plant’s current throughput capacity is 5,000 TPD. In line with proposed increases in mine output, the processing capacity at Piedras Verdes will increase to 10,000 TPD in 2024.

A new dry-stack tailing storage facility (“TSF”) (herein referred to as “New TSF”) is to be located just to the west of the existing facility, and has an expected life through 2025. The site is also installing an additional thickener and filter presses to allow additional water recovery. Thickened tails (60% solids) are currently being placed in the TSF. After the filter presses are constructed, dry-stack tailings will be placed in the New TSF starting in the latter part of 2020. The PEA considers the use of tailings as backfill and has included the capital and operating costs for a backfill plant. Storing some of the tailings underground would increase the life of the New TSF, and potentially permit the removal of mineralized material pillars that are currently unrecoverable.

The overall Project infrastructure exists already and is functioning and adequate for the purpose of the supporting the mine and mill.

Economic Analysis

This PEA indicates an after tax NPV of US$283 million (using a discount rate of 8%) at 10,000 TPD (in 2024). Total operating cost for the life of mine is US$827 million, equating to a total operating cost of US$19.77 per tonne milled and US$1.16 per pound copper equivalent. Highlights of the PEA are provided in Table 1-2.

Table 1-2: PEA Highlights

Quality Control

All technical data contained in this news release has been reviewed and approved by:

Americo Zuzunaga, FAusIMM CP (Mining Engineer) and Vice President of Corporate Planning is a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Augusto Chung, FAusIMM CP (Metallurgist) and Vice President of Metallurgy and Projects to Sierra Metals is a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Sierra Metals

Sierra Metals Inc. is a diversified Canadian mining company focused on the production and development of precious and base metals from its polymetallic Yauricocha Mine in Peru, and Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three Mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.

The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.

For further information regarding Sierra Metals, please visit www.sierrametals.com

Continue to Follow, Like and Watch our progress:

Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc

Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws (collectively, “forward-looking information“). Forward-looking information includes, but is not limited to, statements with respect to the date of the 2020 Shareholders’ Meeting and the anticipated filing of the Compensation Disclosure. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.

Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading “Risk Factors” in the Company’s annual information form dated March 30, 2020 for its fiscal year ended December 31, 2019 and other risks identified in the Company’s filings with Canadian securities regulators and the United States Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.

The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company’s forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.

Mike McAllister
Vice President, Investor Relations
Sierra Metals Inc.
Tel: +1 (416) 366-7777
Email: info@sierrametals.com

Americo Zuzunaga
Vice President of Corporate Planning
Sierra Metals Inc.
Tel: +1 (416) 366-7777

Luis Marchese
CEO

Sierra Metals Inc.
Tel: +1 (416) 366-7777

Source: Sierra Metals Inc.

Tuesday, October 20, 2020

Newrange Gold (NRGOF)(NRG:CA)

Drilling Commences at Gold Box Canyon

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 phase of drilling. Following a first phase of drilling that included 34 holes for a total of 3,462 meters of drilling along Pamlico Ridge, Newrange hired a new contractor, and drilling resumed on September 19. An additional 35 holes are expected to be drilled during the second phase, including diamond drilling later in the program to test targets at depth. In its entirety, the drilling program will entail over 10,000 meters of drilling. Road construction will begin shortly to drill test the upper Good Hope Mine where underground channel sampling identified consistent high-grade results.


Gold Box Canyon is highly prospective.  Newrange Gold has commenced drilling in the Gold Box Canyon area of the Pamlico Project in Nevada. Preliminary underground mapping and sampling identified mineralized structures in multiple historic mine workings. Additionally, 67 chip-channel samples ranging from 0.4 to 2.4 meters all contained anomalous gold ranging from 0.048 to 16.9 grams of 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. 

Troilus Reports Up to 203 g/t (6.53 Oz/tonne) Gold, 2,440 g/t (78.45 Oz/tonne) Silver and 4.37% Copper From Insitu Sample Located 10km South of Current Mineral Resource

 

October 19, 2020, Toronto, Ontario – Troilus Gold Corp. (TSX: TLG) (OTCQB: CHXMF) (“Troilus” or the “Company”) is pleased to report further results from the summer 2020 regional exploration program on its 100%-owned Troilus Project, located northeast of Chibougamau, Quebec, including the highest insitu gold grades recovered to date within the Frôtet-Evans Greenstone Belt. Earlier this year, Troilus increased its land position by more than 90,000 ha, becoming the largest claim holder within this highly prospective greenstone belt (see press releases dated April 28, July 21 and October 8, 2020). The exploration program focused on generating high-priority targets within this extensive land package. Results reported herein were obtained from our newly defined Testard target (see Figure 1), located approximately 10 kilometres south of the main mineral resource area (Zones Z87, Z87 South, J Zone and Southwest) and mine site.

Highlights from the Testard Zone

• 203 g/t (6.53oz/t) gold, 2,440 g/t (78.45 oz/t) silver and 4.37% copper from outcrop (Sample Y939452).
• Additional Testard outcrop samples:
• 54.2 g/t gold (Sample Y939451)
• 34.9 g/t gold (Sample Y939441)
• 13.55 g/t gold (Sample Y939446)
• 8.44 g/t gold (Sample Y939444)
• 8.25 g/t gold (Sample Y939445)
• 2.35 g/t gold (Sample Y346903)
• As well as 31.5 g/t and 13.4 g/t silver (Samples Y346903 and Y346902)
• Mineralization occurs within a 35-45 metre wide zone of brittle deformation and quartz vein swarms, hosted within a broad, undelineated intrusive tonalite package.
• Similar Testard mineralization has been traced in outcrop on Troilus ground up to 400 metres from the main showing.
• The silica flooding and brittle features that host gold bearing sulphides at Testard have the same characteristics as the Troilus mine and the newly discovered Southwest Zone.
• Results from 35 surface samples obtained in the vicinity of the Testard showing are still pending. Extensive mechanical clearing has been completed and channel samples were taken with further results pending.

“We are thrilled with the latest insitu results including, the highest grade gold occurrence on our property to date and the highest ever reported in outcrop within the Frotêt-Evans Belt, located only 10 kilometres from our resource and mine site,” said Justin Reid, CEO of Troilus. “What’s particularly exciting about these results is that the geological characteristics of the Testard Zone and host rock are not only the same as our main mineral resource zones, including the newest Southwest Zone discovered earlier this year, but also hold many geological similarities to the recently announced Beyan Gold Zone Discovery (see press release dated September 30, 2020) and the Goldfield Boulder Zone discovery (see press release dated October 8, 2020), located 8 kilometres and 36 kilometres away from the Troilus mine site. To date, gold bearing outcrops displaying the same geological features as these positive Testard results have already been traced over a strike length of 400 metres and we look forward to pending results and further planned work to better define this zone. Results from our regional exploration program continue to validate our revised geologic model and exploration approach. The scale and range of the gold-bearing system at Troilus is very exciting, and continues to strengthen our confidence in the district potential of our project.”

During the initial work program, which included outcrop stripping, bedrock mapping and boulder tracing, Troilus’ exploration team identified several mineralized outcrops on the main Testard Block, assaying up to 203 g/t gold with the best results highlighted in Table 1 below. The Testard showing is characterized by quartz veining in a distinct brittle shear zone, cross cutting a large, spatially undefined tonalite, over a distance of 30 metres (see Figure 2). Chalcopyrite is associated locally with veining. Locally the tonalite is strongly deformed and altered.

The Testard area is almost entirely till covered with limited outcrop exposure, however local stripping completed to date has traced similar Testard mineralization in outcrop up to 400 metres from the main showing. In light of these positive results, Troilus will be prioritizing additional work at Testard including further clearing, ground geophysics and prospecting through the conclusion of the fall season.

Troilus Property, Regional Geology and Location of the Testard Zone

 

Figure 2 – Ground and Aerial Photos of the Testard Zone

 

The Troilus property remains underexplored and highly prospective as evidenced by the two recent gold discoveries, Beyan and Goldfield Boulder zones, as well as the continued regional success at Testard. Initial field exploration work undertaken this summer across the +107,000 hectare Troilus property is currently being compiled to identify new prospective targets. Further assays are pending and will be updated in due course.

 

Table 1 – Testard Zone Initial Surface Sample Results

 

Quality Assurance and Control

All outcrop samples were collected by hand and were located by hand-held GPS, bagged and sealed, and sent for assaying at ALS Laboratory, a certified commercial laboratory. Every sample was processed with standard crushing to 85% passing 75 microns on 500 g splits. Samples were assayed by one-AT (30 g) fire assay with an AA finish and if results were higher than 3.5 g/t Au, assays were redone with a gravimetric finish. In addition to gold, ALS carried out multi-element analysis for ME-ICP61 analysis of 33 elements four acid ICP-AES.

Qualified Person

All technical and scientific information, in this press release has been reviewed and approved by Bertrand Brassard, M.Sc., P.Geo., Chief Geologist, who is a Qualified Person as defined by NI 43-101. Mr. Brassard is an employee of Troilus and is not independent of the Company under NI 43-101.

About Troilus Gold Corp.

Troilus is a Toronto-based, Quebec focused, advanced stage exploration and early-development company focused on the mineral expansion and potential mine re-start of the former gold and copper Troilus mine. The 107,326 hectare Troilus property is located within the Frotêt-Evans Greenstone Belt in Quebec, Canada. From 1996 to 2010, Inmet Mining Corporation operated the Troilus project as an open pit mine, producing more than 2,000,000 ounces of gold and nearly 70,000 tonnes of copper.

For more information:

Justin Reid
Chief Executive Officer
+1 (647) 276-0050 x 1305
Justin.reid@troilusgold.com

Paul Pint
President
+1 (416) 602-1050
paul.pint@troilusgold.com

Cautionary Note Regarding Forward-Looking Statements and Information

Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability; the estimate of Mineral Resources in the updated Mineral Resource statement may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. There is no certainty that the Indicated Mineral Resources will be converted to the Probable Mineral Reserve category, and there is no certainty that the updated Mineral Resource statement will be realized.

This press release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the impact of the planned drill program and results on the Company, the possible economics of the project, the Company’s understanding of the project; the development potential and timetable of the project; the estimation of mineral resources; realization of mineral resource estimates; the timing and amount of estimated future exploration; the anticipated results of the Company’s 2020 drill program and their possible impact on the potential size of the mineral resource estimate; the impact of the novel coronavirus (COVID-19) and the considerable uncertainties about the geographic, social and economic impact on the Company of its continuing global spread costs of future activities; capital and operating expenditures; success of exploration activities; the anticipated ability of investors to continue benefiting from the Company’s low discovery costs, technical expertise and support from local communities. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “continue”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are made based upon certain assumptions and other important facts that, if untrue, could cause the actual results, performances or achievements of Troilus to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Troilus will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, currency fluctuations, the global economic climate, dilution, share price volatility and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Troilus to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the impact the COVID 19 pandemic may have on the Company’s activities (including without limitation on its employees and suppliers) and the economy in general; the impact of the recovery post COVID 19 pandemic and its impact on gold and other metals; there being no assurance that the exploration program or programs of the Company will result in expanded mineral resources; risks and uncertainties inherent to mineral resource estimates; the high degree of uncertainties inherent to preliminary economic assessments and other mining and economic studies which are based to a significant extent on various assumptions; variations in gold prices and other precious metals, exchange rate fluctuations; variations in cost of supplies and labour; receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future gold and other metal prices; accidents, labour disputes and shortages; environmental and other risks of the mining industry, including without limitation, risks and uncertainties discussed in the Technical Report to be filed and in other continuous disclosure documents of the Company available under the Company’s profile at www.sedar.com. Although Troilus has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Troilus does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

Troilus Gold Corp.
36 Lombard Street, Floor 4
Toronto, Ontario
M5C 2X3
Canada

Tel: +1 647.276.0050
Email: info@troilusgold.com

 

A two-minute primer on the LK Project

 

View our new video on the LK Project, located in Finland. It’s a quick introduction to Palladium One Mining, which is targeting large-scale platinum-group-element (PGE)-copper-nickel deposits in Finland and Canada. This video covers:

• location, infrastructure, and land tenure
• induced polarization (IP) chargeability anomaly
• exploration drilling and resource potential in the Kaukua South/East zone of the LK Project

“Our exploration program at LK this year is starting to realize the potential of this exciting project. Results from the Kaukua South Zone continue to indicate that the Kaukua area hosts the footprint of a large-scale, shallow, mineralized system displaying continuity,” said Derrick Weyrauch, President and Chief Executive Officer. “Meanwhile, the first diamond drill hole assays from the Haukiaho Trend, returned a wide interval of mineralization in a previously untested area.”

 

 

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.

Palladium One Mining is listed on the TSX Venture Exchange under the symbol PDM.