Category: Natural Resources

Release – Sierra Metals Reports Q4 And Full Year 2022 Production Results, Reflecting Improved Performance At Its Bolivar Mine

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Research News and Market Data on SMT

JANUARY 26, 2023

(All metal prices reported in USD)

  • Bolivar’s improved operating performance resulted in a 69% and 130% increase in copper equivalent production over Q3 2022 and Q4 2021, respectively.
  • A measured and progressive approach to reach full operating capacity at Yauricocha continues, following the mudslide in Q3 2022.
  • Consolidated 2022 copper equivalent production decreased 29% compared to 2021 due to lower production at Yauricocha resulting from the suspension of mining operations and lower grades across all metals, except for gold.

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc . (TSX: SMT) (“Sierra Metals” or the “Company”) reports fourth quarter and full year 2022 production results. Results are from Sierra Metals’ three underground mines in Latin America: The Yauricocha polymetallic mine in Peru, the copper-producing Bolivar mine and the silver-producing Cusi mine in Mexico.

Truck being loaded at Bolivar Rom Pad headed to Concentrate Plant (Photo: Business Wire)

Ernesto Balarezo, Interim CEO of Sierra Metals, commented on a challenging 2022 for the Company, “Early in the year, Yauricocha’s throughput and grades were hindered by a shortage of mine and service personnel due to the COVID-19 pandemic, as well as permitting restrictions. In the third quarter, production was halted due to the tragic mudslide event followed by a road blockade. The mine’s throughput in Q4 declined by 43% when compared to Q3 and 45% when compared to the same quarter last year. While recovery toward Yauricocha’s full production potential continues, safety remains our highest priority. To lead this initiative, Sierra Metals has hired a Vice President, Health & Safety.

At Bolivar, progress in reducing the significant backlog in drilling and mine development that arose during the pandemic was delayed throughout the first half of the year, due to setbacks encountered during the installation of critical infrastructure. These delays were compounded in Q3 by unexpected flooding, negatively affecting production during most of the quarter. However, the Company achieved meaningfully improved performance during Q4 due to infrastructure upgrades in pumping and ventilation, which created improved conditions required to support the advancement of the mine’s preparation and development. A 19% increase in throughput along with improved head grades in all metals resulted in a 69% increase in copper equivalent pounds produced when compared to Q3 2022. When compared to Q4 2021, throughput increased by 19% and copper equivalent production increased by 130%.

Mr. Balarezo concluded,“I am encouraged by the production improvements during the fourth quarter. Our primary goal in the new year is to ramp up production at Yauricocha, stabilize production at Bolivar and optimize Cusi’s production. We are committed to ensuring operations run safely, efficiently and effectively with efforts to streamline processes and reduce inefficiencies where possible. Consistent with the Company’s efforts, the Special Committee of the Board of Directors is continuing to diligently pursue its strategic review process.”

Consolidated Production Results

Consolidated quarterly throughput during Q4 2022 was 494,980 tonnes, a decrease of 12% when compared to Q3 2022, mainly due to the 43% decline in throughput at Yauricocha compared to Q3 2022. As a result, consolidated copper equivalent production also declined by 15% when compared to Q3 2022.

While a 19% increase in throughput during Q4 2022 at the Bolivar Mine, combined with higher grades in all metals, provided a 69% increase in copper equivalent production over the prior quarter, it was not enough to offset the decline in production at Yauricocha. When compared to Q4 2021, a 16% decrease in consolidated throughput resulted in a 21% decrease in consolidated copper equivalent production.

When comparing 2022 to 2021, a 21% decrease in consolidated throughput provided a 29% decrease in copper equivalent pounds produced.

Yauricocha Mine, Peru

Throughput from the Yauricocha Mine during Q4 2022 was 152,586 tonnes, a 43% decline when compared to the previous quarter due to the reduced mining activity following the mudslide incident and the community blockade that led to the suspension of mining operations late in the third quarter. As the progressive restart to operations continues, mining activity was limited to an average daily throughput of 1,744 tonnes during Q4 2022.

When compared to Q4 2021, a 45% decrease in throughput at Yauricocha, combined with lower head grades for all metals, provided for a 56% decrease in copper equivalent pounds produced. Yauricocha’s annual throughput was 1,053,980 tonnes, representing a 16% decrease when compared to the 2021 annual production.

The discovery of the higher-grade Fortuna zone during Q2 2022 was expected to help alleviate the challenges presented by regulatory requirements, which currently limit mineable areas at Yauricocha. However, plans to reap the full benefits of the new zone were delayed, due to the tragic mudslide in September 2022 that significantly limited the mine’s production capacity for the remainder of the year.

Production of all metals declined when compared to full year 2021. While copper grades increased by 9% and gold grades were in-line, compared to 2021, these could not make up for the 16% reduction in throughput and a 21%, 45% and 38% decrease in silver, lead and zinc grades, respectively. Yauricocha’s annual copper equivalent production decreased by 34% when compared to 2021.

A summary of production from the Yauricocha Mine for Q4 and Full Year 2022 is provided below:

Bolivar Mine, Mexico

The Bolivar Mine processed 270,313 tonnes during Q4 2022, a 19% increase compared to Q3 2022. Higher throughput, due to improved ventilation and advancement in the mine’s development and preparation, combined with higher grades in all metals, generated a 69% increase in copper equivalent production when compared to the previous quarter. When compared to Q4 2021, throughput at Bolivar was also 19% higher. A meaningfully improved 92.7% copper recovery rate during the quarter, combined with a substantial improvement in grades for copper, silver and gold, by 49%, 39% and 355%, respectively, resulted in a 130% increase in copper equivalent production, when compared to Q4 2021.

Annual throughput at Bolivar was 941,910 tonnes, representing a 30% decrease when compared to 2021. While the mine’s production showed an improvement during the final quarter of the year, it could not make up for the operational and production issues experienced earlier in the year. Bolivar’s annual copper equivalent production declined by 24% when compared to 2021.

A summary of production for the Bolivar Mine for Q4 and Full Year 2022 is provided below:

Cusi Mine, Mexico

The Cusi Mine processed 72,081 tonnes of ore during Q4 2022, representing an 11% increase over the previous quarter as mining resumed in the area where flooding occurred earlier in the year. The increased throughput helped offset the impact of lower grades and a lower silver and gold recovery rate during the quarter. Silver production remained flat when compared to Q3 2022 with a 1% decline in silver equivalent production.

When compared to Q4 2021, a 15% decrease in throughput, combined with a 4%, 19% and 36% decrease in silver, gold and lead grades, respectively, resulted in a 20% decrease in silver equivalent ounces produced. The decline in throughput and grades during Q4 2022, when compared to the same quarter of 2021, is attributable to the successful mining of higher-grade ore from the NE system during Q4 2021, which was an area of focus prior to the flooding event at Cusi. There was no ore processed from the NE system in Q4 2022.

Annual throughput at Cusi Mine in 2022 was 291,907 tonnes or 1% lower than 2021. In addition to higher silver grades, crushing and grinding improvements at the plant have helped enhance silver and gold recovery, resulting in an 8% increase in silver equivalent production when compared to 2021.

A summary of production for the Cusi Mine for Q4 and Full Year 2022 is provided below:

Strategic Review Process

The Company announced, on October 18, 2022, the formation of a Special Committee and the initiation of a strategic review process. The mandate of the Special Committee, comprised of its independent directors, includes exploring, reviewing and considering options to optimize the operations of the Company and possible financing, restructuring and strategic options in the best interests of the Company. The Special Committee continues to diligently execute this process with financial advisors led by CIBC Capital Markets.

Quality Control

Américo Zuzunaga, FAusIMM (Mining Engineer) 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 with Green Metal exposure including copper production and base metal production with precious metals byproduct credits, focused on the production and development of its Yauricocha Mine in Peru, and Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. 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.

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

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Forward-Looking Statements

This press release contains forward-looking information within the meaning of Canadian securities legislation. Forward-looking information relates to future events or the anticipated performance of Sierra and reflect management’s expectations or beliefs regarding such future events and anticipated performance based on an assumed set of economic conditions and courses of action. In certain cases, statements that contain forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur” or “be achieved” or the negative of these words or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual performance of Sierra to be materially different from any anticipated performance expressed or implied by such 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 16, 2022 for its fiscal year ended December 31, 2021 and other risks identified in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.

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.

Investor Relations
Sierra Metals Inc.
Tel: +1 (416) 366-7777
Email: [email protected]

Source: Sierra Metals Inc.

Comstock Inc. (LODE) – Comstock Receives a Federal Grant to Accelerate Domestic Biofuel Production

Posted on by [email protected]


Friday, January 27, 2023

Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.

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

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

U.S. Department of Energy grant. The U.S. Department of Energy (DOE) announced $118 million in funding for 17 projects to accelerate the production of sustainable biofuels. Comstock Inc. was awarded a $2 million grant to build a pre-pilot scale system to demonstrate one of Comstock’s unique new pathways to produce renewable diesel, sustainable aviation fuel, gasoline, and marine fuel from forestry residues and other forms of lignocellulosic biomass. According to the DOE, the selected projects will drive the domestic production of biofuels and bioproducts by advancing biorefinery development, from pre-pilot to demonstration, to create sustainable fuels that reduce emissions associated with fossil fuels.

A world-class roster of grant participants. Comstock has assembled an impressive team of collaborators, including Haldor Topsoe Holding A/S, Marathon Petroleum Company LP, Novozymes A/S, Xylome Corporation, RenFuel K2B AB, Emerging Fuels Technology Inc., the University of Nevada, Reno, the University of Minnesota Duluth’s Natural Resources Research Institute, and the State University of New York’s College of Environmental Science and Forestry.


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*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. 

Release – Aurania To Attend the Vancouver Resource Investment Conference

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Research News and Market Data on AUIAF

Visit us at booth #816

Toronto, Ontario, January 25, 2023 – Aurania Resources Ltd. (TSXV: ARU; OTCQB: AUIAF; Frankfurt: 20Q) (“Aurania” or the “Company”) will be attending the upcoming Vancouver Resource Investment Conference (VRIC) being held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Sunday, January 29 – Monday, January 30, 2023. Please visit us at Booth #816 or contact us directly to schedule a meeting.

Aurania’s President & CEO, Dr. Keith Barron, will be speaking about the Company’s Lost Cities – Cutucu Project in southeastern Ecuador, during Workshop 4 on Monday, January 30th at 11:10am PST.

Notable keynote speakers at VRIC 2023 include former Premier of BC Christy Clark and former Premier of Saskatchewan, Brad Wall. Other keynote speakers will include dozens of globally respected economists, legendary money managers, and investors.

“We are entering a new era of de-globalization. The trust that allowed for global trade over the last 30 years has shifted irreversibly and countries are now scrambling to secure supplies of natural resources as a matter of national security. As a result, demand for key resources, will skyrocket. We have gathered over 300 companies that are exploring for and producing these natural resources so investors can position themselves accordingly,” said Jay Martin, Host of the Vancouver Resource Investment Conference.

For more information and/or to register for the conference please visit: https://cambridgehouse.com/vancouver-resource-investment-conference .

We look forward to seeing you there.

About the Vancouver Resource Investment Conference

The Vancouver Resource Investment Conference has been the epicentre of junior mining investment in Canada for 25 years and attracts over 5000 mining investors annually. Previous years have been attended by former Prime Minister Stephan Harper and former President of Mexico Felipe Calderon.

The VRIC will include a marketplace of over 300 investment opportunities in the mining industry, spanning early-stage exploration to advanced producing mines.

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir

VP Corporate Development & Investor Relations

Aurania Resources Ltd.

(416) 367-3200

[email protected]

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

Element79 Gold Corp. (ELMGF) – Getting Their Sea Legs

Posted on by [email protected]


Wednesday, January 25, 2023

Element79 Gold is a mineral exploration company focused on the acquisition, exploration and development of mining properties for gold and associated metals. Element79 Gold has acquired its flagship Maverick Springs Project located in the famous gold mining district of northeastern Nevada, USA, between the Elko and White Pine Counties, where it has recently completed a 43-101-compliant, pit-constrained mineral resource estimate reflecting an Inferred resource of 3.71 million ounces of gold equivalent* “AuEq” at a grade of 0.92 g/t AuEq (0.34 g/t Au and 43.4 g/t Ag)) with an effective date of Feb. 4, 2022. The acquisition of the Maverick Springs Project also included a portfolio of 15 properties along the Battle Mountain trend in Nevada, which the Company is analyzing for further merit of exploration, along with the potential for sale or spin-out. In British Columbia, Element79 Gold has executed a Letter of Intent to acquire a private company which holds the option to 100% interest of the Snowbird High-Grade Gold Project, which consists of 10 mineral claims located in Central British Columbia, approximately 20km west of Fort St. James. In Peru, Element79 Gold has signed a letter of intent to acquire the business and assets of Calipuy Resources Inc., which holds 100% interest in the past-producing Lucero Mine, one of the highest-grade underground mines to be commercially mined in Peru’s history, as well as the past-producing Machacala Mine. The Company also has an option to acquire 100% interest in the Dale Property which consists of 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, Canada in the Timmins Mining Division, Dale Township.

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

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

The new focus is focus. While acquisitions characterized the company’s development during the last two years, the company is now actively pursuing the sale, joint venture or spin-off of projects outside of the Maverick Springs project in Nevada and projects in Peru. The company is making progress toward closing the sale of its Long Peak, Stargo, Elder Creek, North Mill, and Elephant projects in Nevada.

Objectives for 2023. Plans associated with the company’s projects in Peru are nearly completed with the intention of beginning site work during the first calendar quarter of 2023. The company’s core focus is to commence preliminary production in Peru in 2023 to generate cash flow. With respect to the Maverick Springs project in Nevada, a re-logging, re-sampling, and petrographic program is planned to help define future drill targets.


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*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. 

Defense Metals Corp. (DFMTF) – Last but Not Least

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Wednesday, January 25, 2023

Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

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

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

2022 drill program. The 2022 resource expansion, delineation, and pit slope geotechnical drill program comprised 18 core drill holes totaling 5,510 meters. Defense Metals released results for the remaining two drill holes, representing 295 meters of drilling, completed during 2022.  Assay results have been released for all 18 holes drilled during the 2022 program.

Recent assay results. Recent results were from two exploration geotechnical core drill holes, one of which returned the best drill intercept, on a grade-times-width basis, of the entire 2022 drilling program. Defense Metals expects to update the Wicheeda mineral resource to include results from 10,859 meters of drilling in 47 core holes completed during the 2021 and 2022 drilling programs that were not included in the preliminary economic assessment (PEA).


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Cypress Development (CYDVF) – Feasibility Study On Track for Mid-Year 2023 Completion; Corporate Name Change

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Wednesday, January 25, 2023

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

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

Corporate name change. Cypress Development’s Board of Directors approved a corporate name change to Century Lithium Corp. which is subject to approval by the TSX Venture Exchange (TSXV). While the TSXV ticker symbol will change, the ticker symbol on the OTCQX will not. Cypress will issue a news release announcing the date that trading under the new name, symbol, and CUSIP number will commence. We think the new name will help increase awareness among investors given that it more closely identifies the company with its mission. 

Feasibility study expected by the end of 2Q 2023. The feasibility study for the Clayton Valley Lithium project is advancing on schedule with completion anticipated by mid-year. On-site infrastructure designs, including mine, processing plant and tailings, and waste storage facilities are completed. Cost and market studies are underway, along with assessments for construction, component lead-time and off-site infrastructure. Efforts are being made to initiate federal, state, and local permitting for the project, along with an evaluation of associated infrastructure.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Release – Defense Metals announces best Rare Earth Assay Results of 2022 from Wicheeda Project Drilling, including 138 metres of 3.66% TREO

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Research News and Market Data on DFMTF

Jan 24, 2023, 09:00 ET

VANCOUVER, BC, Jan. 24, 2023 /CNW/ – Defense Metals Corp. (“Defense Metals” or the “Company”; (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to announce Rare Earth Element (“REE”) assay results from the final two core drill holes, totalling 295 metres (“m”), completed during 2022 at its 100% owned Wicheeda REE Deposit. These assay results are from two exploration geotechnical core drill holes. The final drill hole (WI22-79) returned the best drill intercept on a grade-times-width basis of the entire 18-hole 5,510 m (~18,077 feet) 2022 campaign.

Figure 1. Wicheeda REE Deposit Cross Section Looking North (CNW Group/Defense Metals Corp.)
Figure 1. Wicheeda REE Deposit Cross Section Looking North (CNW Group/Defense Metals Corp.)
Image 1: REE Mineralization Within WI22-79 (49-63.9m interval grades 5.47% TREO) (CNW Group/Defense Metals Corp.)
Image 1: REE Mineralization Within WI22-79 (49-63.9m interval grades 5.47% TREO) (CNW Group/Defense Metals Corp.)

Pit slope geotechnical drill hole WI22-78 (-60o dip at azimuth 200o) drilled into the west pit wall intersected well mineralized dolomite carbonatite that assayed 2.63% total rare earth oxide (“TREO”) over 97 metres (“m”) from surface within a broader mineralized one returning 2.03% TREO over 168 m (see Table 1 and Figure 1).

The final drill hole, WI22-79 (-65o dip at 095o azimuth), drilled within the central area of the Wicheeda Deposit and into the east pit wall intersected an upper high-grade mineralized dolomite-carbonatite interval from surface assaying 3.66% TREO over 138 m; and lower interval grading 0.50% TREO over 43 m (see Table 1 Figure 1, and Image 1).

The upper interval in WI22-79 represents the best mineralized intercept returned of all 2022 holes and ranks among the top 10 reported drill intercepts of the more than 10,000 m drilled in 47 holes Defense Metals has completed post-PEA (see “About the Wicheeda REE Project“). 

 Luisa Moreno, President, and Director of Defense Metals stated:

“The economic significance of the Wicheeda REE Project is underscored by the fact that the final drill hole yielded the best drill intercept of the 2022 campaign. Since the release of our positive PEA based on drilling completed up to the end of 2019, the last two years of exploration at Wicheeda has focused on resource expansion, delineation, and detailed pit slope geotechnical drilling designed to place us solidly on the path towards initiation of a Preliminary Feasibility Study (PFS). With critical minerals and particularly rare earth elements coming into sharper focus as part the rapidly accelerating transition to electric vehicles, Defense Metals looks forward to continuing to advance the social-environmental, metallurgical, engineering, and geotechnical aspects of the Wicheeda REE Project during 2023.”

Table 1. Final Wicheeda REE Deposit 2022 Diamond Drill Intercepts1

1 The true width of REE mineralization is estimated to be 70-100% of the drilled interval.
2 TREO % sum of CeO2, La2O3, Nd2O3, Pr6O11, Sm2O3, Eu2O3, Gd2O3, Tb4O7, Dy2O3 and Ho2O3.

About the Wicheeda REE Project

The 100% owned, 4,262-hectare (~10,532-acre) Wicheeda REE Project is located approximately 80 km northeast of the city of Prince George, British Columbia; population 77,000. The Wicheeda project is readily accessible by all-weather gravel roads and is near infrastructure, including power transmission lines, gas pipelines, the Canadian National Railway, and major highways.

The 2021 Wicheeda REE Project Preliminary Economic Assessment technical report (“PEA”) outlined a robust after-tax net present value (NPV@8%) of $517 million and an 18% IRR3. This PEA contemplated an open pit mining operation with a 1.75:1 (waste:mill feed) strip ratio providing a 1.8 Mtpa (“million tonnes per year”) mill throughout producing an average of 25,423 tonnes REO annually over a 16 year mine life. A Phase 1 initial pit strip ratio of 0.63:1 (waste:mill feed) would yield rapid access to higher grade surface mineralization in year 1 and payback of $440 million initial capital within 5 years.

Methodology and Quality Assurance/Quality Control

The analytical work reported on herein was performed by ALS Canada Ltd. (“ALS”) at their Langley (sample preparation) and Vancouver (ICP-MS fusion), B.C. facilities. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of the Defense Metals and the QP. Drill core samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. A 0.1-gram sample pulp was then subject to multi-element ICP-MS analysis via lithium-borate fusion to determine individual REE content (ME-MS81h). Defense Metals follows industry standard procedures for the work carried out on the Wicheeda Project, with a quality assurance/quality control (“QA/QC”) program. Blank, duplicate, and standard samples were inserted into the sample sequence sent to the laboratory for analysis. Defense Metals detected no significant QA/QC issues during review of the data.

Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda REE Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (B.C.), Principal and Consultant of APEX Geoscience Ltd. of Edmonton, Alberta, who is a director of Defense Metals and a “Qualified Person” (“QP”) as defined in NI 43-101. Mr. Raffle has verified the data, which included a review of the sampling, analytical and test methods underlying the data, information and opinions disclosed herein.

__________________________

3 Independent Preliminary Economic Assessment for the Wicheeda Rare Earth Element Project, British Columbia, Canada, dated January 6, 2022, with an effective date of November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is filed under Defense Metals Corp.’s Issuer Profile on SEDAR (www.sedar.com).

About Defense Metals Corp.

Defense Metals Corp. is a company focused on the development of its 100% owned Wicheeda Rare Earth Element mineral deposit, located near Prince George, British Columbia, Canada, that contains metals and elements commonly used in in green energy, aerospace, automotive and defense technologies. Rare earth elements are especially important in the production of magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

For further information, please contact:

Todd Hanas, Bluesky Corporate Communications Ltd.
Vice President, Investor Relations
Tel: (778) 994 8072
Email: [email protected]

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

Cautionary Statement Regarding “Forward-Looking” Information

This news release contains “forward–looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, the Company’s plans for its Wicheeda REE Project, expanded resource and scale of expanded resource, expected results and outcomes, plans to complete a PFS, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological and engineering assumptions, decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed drilling results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward–looking statements or forward–looking information, except as required by law.

SOURCE Defense Metals Corp.

Release – Cypress Development to Change Name To Century Lithium Corp

Posted on by [email protected]

Research News and Market Data on CYDVF

January 24, 2023

January 24, 2023 – Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) ( “Cypress” or “the Company”) announces that the Board of Directors has approved a name change of the Company from Cypress Development Corp. to Century Lithium Corp.

The Company will also change the ticker symbol upon which it trades on the TSX Venture Exchange (“TSXV”).  The Company will issue a further news release announcing the date that trading under the new name, symbol and CUSIP number will commence.  The name change remains subject to TSXV approval.

About Cypress Development Corp
Cypress Development Corp. is a Canadian based advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Cypress is in the pilot stage of testing on material from its lithium-bearing claystone deposit and progressing towards completing a Feasibility Study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

ON BEHALF OF CYPRESS DEVELOPMENT CORP.

WILLIAM WILLOUGHBY, PhD., PE

President & Chief Executive Officer

For further information, please contact:

Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851 | Toll Free: 1 800 567 8181 | Email [email protected]
www.cypressdevelopmentcorp.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Release – Cypress Development Provides Progress Update on Feasibility Study And Lithium Extraction Facility

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Research News and Market Data on CYDVF

January 23, 2023

January 23, 2023 – Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) (“Cypress” or “the Company”) is pleased to provide a progress update on its ongoing Feasibility Study being conducted on the Company’s Clayton Valley Lithium Project (“Project”) near Silver Peak, Nevada, and on its operational Lithium Extraction Facility (“Pilot Plant”) in Amargosa Valley, Nevada.

Highlights

  • The Pilot Plant continues to function as designed, working to optimize the Project’s flowsheet. The Plant leaches lithium-bearing claystone material, through to the production of concentrated lithium solution using the Company’s Direct Lithium Extraction (“DLE”) process.
  • Additional piloting runs will take place at Saltworks Technologies, Inc. following the successful production of lithium carbonate (“Li2CO3”) from the Pilot Plant’s concentrated lithium solutions.
  • The Project’s Feasibility Study is on schedule and is continuing to advance toward an anticipated second quarter 2023 completion.
  • Arrangements are proceeding to initiate federal, state, and local permitting for the Project, with compilation of data and evaluation of related infrastructure, including access, water, and power supply corridors.
  • Ahead of the Feasibility Study and permitting, Cypress management is assessing personnel needs and future Project financing opportunities and structures, which may include government grants and loans.

Pilot Plant

Cypress continues to conduct testing at its Pilot Plant with the support of del Sol Refining, Inc. Since its start-up, the Pilot Plant has operated in 28 cycles of continuous 24/7 operation, with minimal down-time and maintenance matters. The test work was conducted using multiple configurations and equipment to best replicate the Project flowsheet. In the testing to date, nearly 10,000 samples of solutions, solids and precipitates have been collected and analyzed. Other data collection, including recording of flow rates and physical conditions at key sample points throughout the Pilot Plant, has been conducted, with particular attention to the DLE section of the Pilot Plant to develop the Project’s mass-balance calculations, and to finalize the flowsheet for the Feasibility Study.

Pilot Plant testing has achieved targets in most areas, including operating with 100% recycled solutions. Specific challenges were addressed with sufficient results to aid in the completion of the Feasibility Study. Further testing in 2023 is planned to confirm the overall process, continue to demonstrate the flowsheet, and produce samples of Li2CO3. Additional 1000-liter lots of concentrated lithium solution from the DLE section of the Pilot Plant will be shipped to Saltworks Technologies, Inc, in Richmond, B.C., Canada by month end.

2023 plans for the Pilot Plant include testing alternate reagents and equipment, which may include identification of potential by-products, and ways to enhance impurity removal and the DLE process area. Additional space within the Pilot Plant building has been prepared for this work.

Feasibility Study

The Feasibility Study is advancing on schedule, with completion anticipated by mid-year. On-site infrastructure designs, including, mine, processing plant, and tailings and waste storage facilities are completed. Cost estimating and market studies are underway, along with assessments for construction, component lead-time and off-site infrastructure. Completion of the Feasibility Study will then await integration of the design and cost estimates for the acid plant underway by thyssenkrupp nucera.

In addition, Cypress management is assessing personnel needs and future Project financing opportunities and structures, which may include government grants and loans.

About Cypress Development Corp

Cypress Development Corp. is a Canadian based advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Cypress is in the pilot stage of testing on material from its lithium-bearing claystone deposit and progressing towards completing a Feasibility Study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

ON BEHALF OF CYPRESS DEVELOPMENT CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer

For further information, please contact:
Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851 | Toll Free: 1 800 567 8181 | Email [email protected]
www.cypressdevelopmentcorp.com  

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Why Are Central Banks Buying Gold?

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Image Credit: Pixabay (Pexels)

Central Banks Turn to Gold as Losses Mount

In 2022, central banks purchased the largest amount of gold in recent history. According to the World Gold Council, central bank purchases of gold have reached a level not seen since 1967. The world’s central banks bought 673 metric tons in one month, and in the third quarter, the figure reached 400 metric tons. This is interesting because the flow from central banks since 2020 has been eminently net sales.

Why are global central banks adding gold to their reserves? There may be different factors.

Most central banks’ largest percentage of reserves are US dollars, which usually come in the form of US Treasury bonds. It would make sense for some of the central banks, especially China, to decide to depend less on the dollar.

China’s high foreign exchange reserves are a key source of stability for the People’s Bank of China. But the high amount of US dollars ($3.1 trillion) may have been a key stabilizing factor in 2022, but it could be too much if the next ten years bring a wave of money devaluation that has never happened before.

Central banks have been talking about the idea of issuing a digital currency, which would completely change the way money works today. By issuing a digital currency directly into a citizen’s account at the central bank, the financial institution would have all access to savers’ information and, more importantly, would be able to accelerate the transmission mechanism of monetary policy by eliminating the channels that prevent higher inflation from happening: the banking channel and the backstop of credit demand. What has kept inflation from going up much more is that the way monetary policy is passed on is always slowed down by the demand for credit in the banking system. This has obviously led to a huge rise in the prices of financial assets and still caused prices to go through the roof when the growth in the money supply was used to pay for government spending and subsidies.

If central banks start issuing digital currencies, the level of purchasing power destruction of currencies seen in the past fifty years will be exceedingly small compared with what can occur with unbridled central bank control.

In such an environment, gold’s status as a reserve of value would be unequalled.

There are more reasons why a central bank might buy gold.

Central banks need gold because they may be preparing for an unprecedented period of monetary devastation.

The Financial Times claims that central banks are already suffering significant losses as a result of the falling value of the bonds they hold on their balance sheets. By the end of the second quarter of 2022, the Federal Reserve had lost $720 billion while the Bank of England had lost £200 billion. The European Central Bank is currently having its finances reviewed, and it is predicted that it will also incur significant losses. The European Central Bank, the US Federal Reserve, the Bank of England, the Swiss National Bank, and the Australian central bank all “now face possible losses of more than $1 trillion altogether, as once-profitable bonds morph into liabilities,” according to Reuters.

If a central bank experiences a loss, it can fill the gap by using any available reserves from prior years or by requesting help from other central banks. Similar to a commercial bank, it may experience significant difficulties; nevertheless, a central bank has the option of turning to governments as a last resort. This implies that the hole will be paid for by taxpayers, and the costs are astronomical.

The wave of monetary destruction that could result from a new record in global debt, enormous losses in the central bank’s assets, and the issuance of digital currencies finds only one true safe haven with centuries of proven status as a reserve of value: Gold. This is because central banks are aware that governments are not cutting deficit spending.

These numbers highlight the enormous issue brought on by the recent overuse of quantitative easing. Because they were unaware of the reality of issuer solvency, central banks switched from purchasing low-risk assets at attractive prices to purchasing any sovereign bond at any price.

Why do central banks increase their gold purchases just as losses appear on their balance sheets? To increase their reserve level, lessen losses, and foresee how newly created digital currencies may affect inflation. Since buying European or North American sovereign bonds doesn’t lower the risk of losing money if inflation stays high, it is very likely that the only real option if to buy more gold.

The central banks of industrialized nations will make an effort to shrink their balance sheets in order to fight inflation, but they will also discover that the assets they own are continuing to depreciate in value. A central bank that is losing money cannot immediately expand its balance sheet or buy more sovereign bonds. A liquidity trap has been set. Quantitative easing and low interest rates are necessary for higher asset values, but further liquidity and financial restraint may prolong inflationary pressures, which would then increase pressure on asset prices.

The idea that printing money wouldn’t lead to inflation served as the foundation for the monetary mirage. The evidence to the contrary now demonstrates that central banks are faced with a serious challenge: they are unable to sustain multiple expansion and asset price inflation, lower consumer prices, and fund government deficit spending at the same time.

So, why do they buy gold? Because a new paradigm in policy will unavoidably emerge as a result of the disastrous economic and monetary effects of years of excessive easing, and neither our real earnings nor our deposit savings benefit from that. When given the choice between “sound money” and “financial repression,” governments have forced central banks to choose “financial repression.”

The only reason central banks buy gold is to protect their balance sheets from their own monetary destruction programs; they have no choice but to do so.

About the Author:

Daniel Lacalle, Ph.D., economist and fund manager, is the author of the bestselling books Freedom or Equality (2020), Escape from the Central Bank Trap (2017), The Energy World Is Flat (2015), and Life in the Financial Markets (2014).

Daniel is a professor of global economy at IE Business School in Madrid.

Release -Defense Metals to Exhibit Core at AME Roundup and VRIC 2023

Posted on by [email protected]

Research News and Market Data on DFMTF

Vancouver, British Columbia – January 20, 2023: Defense Metals Corp. (“Defense Metals” or the “Company”; TSX-V: DEFN / OTCQB: DFMTF / FSE:35D) is pleased to announce that it will participate at both, the AME Roundup in the Core shack, Booth# 821, January 25, & 26th, 2023 and the Vancouver Resource Investment Conference, Booth #119, on January 29-30, 2023. Defense Metals’ technical and financial management will be available during the conferences at the Vancouver Convention Centre East (AME) and West (VRIC).

About the Wicheeda REE Project

The 100% owned, 4,262-hectare (~10,532-acre) Wicheeda REE Project is located approximately 80 km northeast of the city of Prince George, British Columbia: population 77,000. The Wicheeda project is readily accessible by all-weather gravel roads and is near infrastructure, including power transmission lines, gas pipelines, the Canadian National Railway, and major highways.

The 2021 Wicheeda REE Project Preliminary Economic Assessment technical report (“PEA”) outlined a robust after-tax net present value (NPV@8%) of $517 million and an 18% IRR[1]. This PEA contemplated an open pit mining operation with a 1.75:1 (waste: mill feed) strip ratio providing a 1.8 Mtpa (“million tonnes per year”) mill throughput producing an average of 25,423 tonnes REO annually over a 16 year mine life. A Phase 1 initial pit strip ratio of 0.63:1 (waste: mill feed) would yield rapid access to higher grade surface mineralization in year 1 and payback of $440 million initial capital within 5 years.

Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda REE Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (B.C.), Principal and Consultant of APEX Geoscience Ltd. of Edmonton, Alberta, who is a director of Defense Metals and a “Qualified Person” (“QP”) as defined in NI 43-101. Mr. Raffle has verified the data, which included a review of the sampling, analytical and test methods underlying the data, information and opinions disclosed herein.

About Defense Metals Corp.

Defense Metals Corp. is a company focused on the development of its 100% owned Wicheeda Rare Earth Element mineral deposit, located near Prince George, British Columbia, Canada, that contains metals and elements commonly used in in green energy, aerospace, automotive and defense technologies. Rare earth elements are especially important in the production of magnets 1 Independent Preliminary Economic Assessment for the Wicheeda Rare Earth Element Project, British Columbia, Canada, dated January 6, 2022, with an effective date of November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is filed under Defense Metals Corp.’s Issuer Profile on SEDAR (www.sedar.com). used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

For further information, please contact:

Todd Hanas, Bluesky Corporate Communications Ltd.
Vice President, Investor Relations
Tel: (778) 994 8072
Email: [email protected]
 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding “Forward-Looking” Information
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, the Company’s plans for its Wicheeda REE Project, attending the conferences, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological and engineering assumptions, decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, an inability to predict and counteract the effects of COVID19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed drilling results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐ looking information, except as required by law.

[1] Independent Preliminary Economic Assessment for the Wicheeda Rare Earth Element Project, British Columbia, Canada, dated January 6, 2022, with an effective date of November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is filed under Defense Metals Corp.’s Issuer Profile on SEDAR (www.sedar.com).

Labrador Gold Corp. (NKOSF) – Keeping an Eye on the Hopedale Project

Posted on by [email protected]


Friday, January 20, 2023

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

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

Exploration continues at Hopedale. Labrador Gold released results from grab and channel samples from the northernmost Thurber Dog license at the company’s Hopedale project in Labrador. Hopedale consists of 998 claims in five licenses covering 249 square kilometers of the Florence Lake greenstone belt. Previous work by others revealed significant gold in rock and soil over a three kilometer strike length, including four mineralized occurrences: 1) Thurber North with up to 3.8 grams per tonne, 2) TD500 with up to 21.59 grams per tonne, 3) Thurber Dog with up to 11.4 grams per tonne, and Thurber South with up to 4.1 grams per tonne. In addition to gold, the property has nickel and copper potential.

Encouraging assay results. Grab samples at TD500 returned gold values ranging from 0.46 grams per tonne to 21.59 grams per tonne. Channel sampling over a strike length of 60 meters returned 2.91 grams gold per tonne over 5.17 meters including 14.02 grams of gold per tonne over 0.61 meters, 2.35 grams of gold per tonne over 6.88 meters, and 4.23 grams of gold per tonne over 5.04 meters. Shear hosted gold mineralization has been discovered over a 35 meter strike length. Grab samples at the Kaapak copper occurrence returned up to 10.2% copper with seven of nine grab samples assaying over 1% copper. Channel sampling over a strike length of 50 meters at Kaapak returned copper values of up to 3.31%.


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*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. 

Eskay Mining Corp. (ESKYF) – Exploration Reveals New Precious Metal Rich VMS System at Scarlet Knob-Tarn Lake

Posted on by [email protected]


Thursday, January 19, 2023

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

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

2022 exploration program. The goal of Eskay Mining’s 2022 exploration program was to identify new precious metal-rich volcanogenic massive sulfide (VMS) deposits across its Consolidated Eskay Project based on mapping and geochemical sampling, along with more advanced work including widely-spaced drilling. During the 2022 exploration season, Eskay Mining completed 29,500 meters of diamond drilling along the TV-Jeff corridor and along the Scarlet Ridge-Tarn Lake Trend.

New precious metal-rich VMS system. Through its exploration work at Scarlet Knob-Tarn Lake, the company confirmed the presence of a second major trend of gold and silver-rich VMS mineralization at the northern end of the Eastern anticline which runs parallel to the Eskay anticline that hosts the Eskay Creek deposit located approximately seven kilometers to the west. Additionally, management thinks Tarn Lake and Scarlet Knob may be connected.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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.