Labrador Gold Corp. (NKOSF) – Drilling Program Yielding Successful Outcomes

Friday, July 08, 2022

Labrador Gold Corp. (NKOSF)
Drilling Program Yielding Successful Outcomes

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

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

Latest drill results. Labrador Gold released results for 12 drill holes associated with its 100,000-meter drill program targeting the Appleton Fault Zone over a 12-kilometer strike length. The results included a new high-grade intercept from drilling at the southwest end of the Big Vein zone, along with drilling results from the Golden Glove and Midway targets.

Highest-grade drill intercept at Big Vein. The hole drilled furthest to the southwest at the Big Vein target intersected 284.1 grams of gold per tonne over 0.58 meters from 309.7 meters downhole, representing the highest grade yet intersected at the Kingsway project. The hole also intersected 15.05 grams of gold per tonne over 1.11 meters from 310.71 meters just below the high-grade intercept. The hole was collared 120 meters to the southwest of a drill hole that intersected 54.17 grams of gold per tonne over 0.95 meters underscoring the potential for further high-grade mineralization as drilling continues to the southwest….

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. 

Element79 Gold Corp. (ELMGF) – Catalysts on the Horizon to Drive Shareholder Value

Friday, July 08, 2022

Element79 Gold Corp. (ELMGF)
Catalysts on the Horizon to Drive Shareholder Value

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.

Annual general meeting. At the recent annual general meeting, shareholders approved all business items, including the election of a new independent director, Mr. Shane Williams, COO of Skeena Resources Limited (NYSE: SKE, TSX: SKE). Previously, Mr. Williams served as a strategic advisor and offers an impressive record of senior executive experience and managing high-profile mining projects. Based on similarities between Skeena at its early stages and Element79 Gold today, we think his appointment will serve the company well.

Transformational acquisition closed. Element79 Gold recently closed the acquisition of two past-producing high-grade gold-silver mines in Peru, including the Lucero Mine, one of the highest-grade underground mines to be commercially mined in Peru’s history, and the Machala Mine. Operations were suspended at Machala in 1991 and Lucero in 2005 due to low gold and silver prices. Management believes Lucero has the potential to be a world class deposit and both mines offer the potential for near-term production….

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 – Eskay Mining Discovers Multiple New VMS Systems across its Consolidated Eskay VMS Project, Golden Triangle British Columbia



Eskay Mining Discovers Multiple New VMS Systems across its Consolidated Eskay VMS Project, Golden Triangle British Columbia

News and Market Data on Eskay Mining

TORONTO, ON / ACCESSWIRE / July 7, 2022 / Eskay Mining Corp. (“Eskay” or the “Company”) (TSXV:ESK)(OTCQX:ESKYF)(Frankfurt:KN7)(WKN:A0YDPM) is pleased to announce discovery of multiple new volcanogenic massive sulfide (“VMS”) deposits across its 100% controlled Consolidated Eskay project, British Columbia. To date, the Company has completed 5,370 m of diamond core drilling in 13 holes, approximately 18% of the 30,000 m planned meters to be drilled in 2022. Drill production is currently on target to reach this aggressive goal.

“By pushing for an early start to the 2022 Exploration Program we have been able to meet one of our major objectives, showing that the TV-Jeff VMS system extends well to the north of Jeff. Our targeting criteria built over the past two years continues to yield mineralized intercepts,” commented Dr. John DeDecker, Eskay Mining’s VP of Exploration. “Not only does the TV-Jeff VMS system appear to encompass a minimum 5 km-trend of VMS mineralization, we have also confirmed that Scarlet Ridge is host to a separate VMS system of similar size. We look forward to testing the full strike length of both of these VMS systems with aggressive drilling and Anaconda-style mapping programs in 2022. It amazes me that every day in the field we are delineating extensive VMS systems outcropping at surface. This leaves me wondering what other deposits have gone unrecognized across the property. Our expert team has done a great job making new discoveries over the past few weeks, and we are excited by the potential of them making yet more discoveries across our large property over the next several months.”

“The 2022 exploration campaign at the Consolidated Eskay project is by far the most aggressive program ever conducted on the property,” commented Dr. Quinton Hennigh, director and technical advisor to Eskay Mining. Our team is doing a remarkable job making new discoveries, a step needed to grow this remarkable story. We suspected the TV-Jeff VMS system was much larger, and now we have proof from recent drilling at Jeff North. In just one month, our field crews have more fully assessed the potential at Scarlet Ridge, and now have strong evidence the system here is of equal magnitude to that at TV-Jeff. Mineralization appears to be hosted by the same rocks found at Eskay Creek 7 km to the west. Excelsior South also displays similar stratigraphy and mineralization to the Eskay Creek deposit. We are delighted with progress made to date, but we have four more months in this season during which we expect more discoveries to be made.”

Summary of Discoveries Made at Jeff North

  • Drilling and geological mapping confirms that the greater TV-Jeff VMS system extends 1.5 km north of Jeff (Figures 1 and 2). A significant zone of intensely silicified peperitic basalt, dacite, and andesite hosts stockwork and semi-massive sulfide mineralization at Jeff North. This zone is evident at the surface as a topographic ridge, and in drill core, it is characterized by hydrothermal breccia with abundant silica alteration and sulfide mineralization (Figures 3-5).
  • Sulfide mineralization is hosted by peperitic basalt, dacite, and andesite occurring in mineralized horizons that correspond to those at Jeff 1.5 km to the south (Figure 2) indicating that VMS hydrothermal systems were active over a 5 km-strike length from TV to Jeff North, and likely beyond.
  • Investigations of drill core with handheld XRF units indicate presence of strong pathfinder element associations (Ag, As, Sb, and Hg) in some areas displaying sulfide mineralization.
  • Systematic soil sampling northwards of Jeff North has been completed, and includes a large SkyTEM anomaly of similar size and shape to those corresponding with VMS at TV, Jeff, and Jeff North discovered during the 2021 program. The results of the soil sampling program will indicate how much further north the TV-Jeff VMS system extends. So far, each large conductive SkyTEM anomaly investigated corresponds with VMS mineralization observed at surface. There are several more SkyTEM anomalies left to investigate this season, and these are the highest priority of Eskay’s 2022 drill program.
  • Geological Mapping conducted in 2022, led by Drs. Ben M. Frieman and Jesse Hill, has yielded the first lithological map consistent with drill core observations. This work has shown the importance of integrating drilling and mapping data sets and has yielded a new understanding of the distribution of the lower Hazelton Group volcanic rocks in the Eskay anticline region. For example, in addition to the volcanic-hydrothermal systems identified at TV, Jeff, and Jeff North, new observations suggest that mineralized volcanic rocks may occur across-strike to the west as well as within structurally juxtaposed, but correlative, rocks to the east of this area, a wholly new location identified as prospective.

Scarlet Ridge

  • Two extensive VMS feeder zones have been discovered at Scarlet Ridge, the Southern and Northern Feeder Zones. These feeder zones are marked by intense hydrothermal alteration, ubiquitous stockwork and replacement-style sulfide mineralization, and intensely gossanous red, orange, and yellow surficial staining of the peperitic dacite and rhyolite host rocks. The Southern Feeder Zone has been the focus of early season investigations and will be further tested by drilling in 2022 (Figures 6-8).
  • Scarlet Ridge is located 7 km east of the Eskay Creek deposit and occurs in a similar geologic setting to this exceptional high-grade VMS deposit.
  • Field investigations of stockwork sulfides from the Southern Feeder Zone using handheld XRF units indicate presence of strong pathfinder element (Ag, As, Sb, and Hg) anomalism. These pathfinder results are consistent with rock chip samples collected in the area during the early 1990’s and the 2021 program (see Eskay’s March 21, 2022 news release for more information), in which samples also yielded strongly anomalous Au assays ranging from 0.14-2.49 g/t.
  • Scarlet Ridge displays all the hallmarks of a large VMS system, with multiple feeder zones connected with at least three horizons exhibiting subseafloor replacement style mineralization, each of which extends along strike for hundreds of meters (Figures 6-8). It is especially encouraging that these horizons are correlative with the same units that host the Eskay Creek deposit (Figure 9) Pathfinder element associations suggest the potential for precious metal endowment.
  • Preparations are underway to begin drilling the feeder zones at Scarlet Ridge starting in mid-July (Figure 10).

Excelsior South

  • Preliminary field visits followed up on strong Au BLEG results from 2020 and strong pathfinder element anomalies evident in soil transects from 2021.
  • Peperitic rhyolite was discovered at Excelsior South, in rocks previously mapped as the Bowser Lake Group. Investigations with a handheld XRF confirm that this rhyolite is indeed of the same composition as the Eskay rhyolite, host to the world-class Eskay Creek VMS deposit.
  • A 100 m grid soil sampling program has just been completed at Excelsior South. Analyses from these soil samples are expected back in a few weeks. Subject to promising results, a limited exploratory drill program will be conducted at Excelsior South in 2022.

To date, Eskay Mining has completed 5,370 m of diamond core drilling in 13 holes, approximately 18% of planned meters to be drilled in 2022. Thus far, drilling has occurred around the area called Jeff North. The Company will soon be drilling at Scarlet Ridge as well as testing other targets along the greater TV-Jeff corridor. At present, drill production is on track to reach Eskay’s aggressive goal of 30,000 m.

Dr. Quinton Hennigh, P. Geo., a Director of the Company and its technical adviser, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical contents of this news release.

About Eskay Mining Corp:

Eskay Mining Corp (TSX-V:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario. Eskay is an exploration company focused on the exploration and development of precious and base metals along the Eskay rift in a highly prolific region of northwest British Columbia known as the “Golden Triangle,” 70km northwest of Stewart, BC. The Company currently holds mineral tenures in this area comprised of 177 claims (52,600 hectares).

All material information on the Company may be found on its website at www.eskaymining.com and on SEDAR at www.sedar.com.

For further information, please contact:

Mac Balkam

T: 416 907 4020

President & Chief Executive Officer

E: Mac@eskaymining.com

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

Forward-Looking Statements: This Press Release
contains forward-looking statements that involve risks and uncertainties, which
may cause actual results to differ materially from the statements made. When
used in this document, the words “may”, “would”, “could”, “will”, “intend”,
“plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions
are intended to identify forward-looking statements. Such statements reflect
our current views with respect to future events and are subject to risks and
uncertainties. Many factors could cause our actual results to differ materially
from the statements made, including those factors discussed in filings made by
us with the Canadian securities regulatory authorities. Should one or more of
these risks and uncertainties, such as actual results of current exploration
programs, the general risks associated with the mining industry, the price of
gold and other metals, currency and interest rate fluctuations, increased
competition and general economic and market factors, occur or should
assumptions underlying the forward looking statements prove incorrect, actual
results may vary materially from those described herein as intended, planned,
anticipated, or expected. We do not intend and do not assume any obligation to
update these forward-looking statements, except as required by law.
Shareholders are cautioned not to put undue reliance on such forward-looking
statements.

(Figure 1. Drill holes at Jeff North completed as of date of this release. Silver assays from soil samples from 2021, and the SkyTEM conductivity map from 2020 are shown, and have proven to be reliable vectors towards VMS mineralization during the 2022 program thus far.

(Figure 2. Preliminary geologic map of Jeff and Jeff North based on 2022 field work by the mapping team, and drilling from 2020-2022. Drilling at Jeff North has been focused on a 1 km trend of intensely silicified peperitic basalt identified during mapping, and has confirmed the presence of extensive VMS mineralization associated with the silicified basalt.)

(Figure 3. Semi-massive replacement-style sulfide mineralization hosted by an intensely silicified vesicular basalt. The intensity of replacement-style mineralization and hydrothermal alteration is consistent with a location proximal to a VMS feeder structure. Handheld XRF analyses show consistently high pathfinder elements (As, Sb, and Hg) within sulfide mineralization in this drill hole.)

(Figure 4. Polymetallic sulfide mineralization hosted by intensely silicified mudstone. Sulfide minerals present include pyrite, pyrrhotite, sphalerite, and galena, with XRF-indicated Ag-bearing tetrahedrite. Tetrahedrite is commonly associated with microscopic electrum in drill core from the 2020 and 2021 drill programs.)

(Figure 5. Semi-massive replacement-style sulfide mineralization hosted by intensely silicified and clay altered peperitic basalt. The intensity of replacement-style mineralization and hydrothermal alteration is consistent with a location proximal to a VMS feeder structure.)

(Figure 6. Intensely gossanous peperitic dacite defining the Southern Feeder Zone at Scarlet Ridge. This gossan extends approximately 600 m along strike, and cuts at least 800 m of stratigraphy. Multiple traverses across stratigraphy have confirmed that stockwork and replacement-style sulfide mineralization, and intense hydrothermal alteration are ubiquitous throughout rocks that are gossanous. Stratigraphy is steeply dipping to the east here, suggesting that these mineralized horizons could extend to considerable depth. A fence of several 800 m deep drill holes will test the heart of this intensely mineralized feeder zone. The Southern Feeder Zone is approximately 1 km south of the Northern Feeder Zone visited in 2021 (visible in the lower left image as the gossanous bluffs just left of the mountains). The two feeder zones and their along strike extensions occur within peperitic dacite and Eskay rhyolite, suggesting that these hydrothermal systems are part of one larger system that was active at the same time as the VMS system that formed Eskay Creek, just 7 km due west.)

(Figure 7. Close-up views of stockwork and replacement-style sulfide mineralization from the Southern Feeder Zone at Scarlet Ridge. This sort of sulfide mineralization is ubiquitous throughout the entire outcrop area of the Southern Feeder Zone.)

(Figure 8. Gossanous and sulfide-bearing horizons define permeable Eskay rhyolite debris flow breccia that extend several hundred meters along strike from the Southern Feeder Zone. These rocks represent horizons that underwent sub-seafloor sulfide replacement as hydrothermal fluids from the feeder zone interacted with debris piles in the near-seafloor environment. Subseafloor replacement is responsible for the largest VMS deposits on Earth. Gossanous rocks of the Northern Feeder Zone are visible to the upper left in the image at top.)

(Figure 9. Schematic geological cross-section of the Southern Feeder Zone at Scarlet Ridge, based on multiple field visits during the 2021 and 2022 seasons. This area will be the primary focus of the 2022 geological mapping program, and will be included in a 5,000 m drill program for targets at Scarlet Ridge and Tarn Lake. The feeder zone intersects several favorable horizons for lateral hydrothermal fluid flow and consequent sub-seafloor replacement-style mineralization. Of particular note, both the Southern and Northern Feeder Zones are hosted within rocks correlative to those at Eskay Creek just 7 km due west of Scarlet Ridge.

(Figure 10. An oblique view of the southern VMS feeder zone at Scarlet Ridge showing surface topography, SkyTEM conductivity data, Au assays from rock chip samples, and a conceptual drill plan. Drilling will focus on the core of the VMS feeder zone, as well as along strike extensions within horizons showing subseafloor sulfide replacement.)

SOURCE: Eskay Mining Corp.

View source version on accesswire.com:
https://www.accesswire.com/707798/Eskay-Mining-Discovers-Multiple-New-VMS-Systems-across-its-Consolidated-Eskay-VMS-Project-Golden-Triangle-British-Columbia

 


Release – Labrador Gold Announces 284.1 g-t Au Over 0.58m From Big Vein Southwest the Highest Grade Intersected at Kingsway to Date



Labrador Gold Announces 284.1 g-t Au Over 0.58m From Big Vein Southwest the Highest Grade Intersected at Kingsway to Date

News and Market Data on Labrador Gold Corp

  • Hole K-22-174 intersected 284.1 g/t Au over 0.58 metres from 309.47 metres and 15.05 g/t Au over 1.11 metres from 310.71.
  • The hole is the furthest hole drilled to the southwest at Big Vein and represents a 120 metre step out from previously reported mineralization at Big Vein.
  • Mineralization at Big Vein remains open along strike to the southwest and northeast.
  • Drilling also intersected high-grade mineralization at Golden Glove grading 20.07 g/t Au over 1 metre from 355m downhole and a longer 13.2 metre near surface interval at Midway grading 2.2 g/t Au that included 5.23 g/t Au over 4 metres.

TORONTO, July 07, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce a new high grade intercept from the drilling at the southwest end of the Big Vein Zone as well as updates on drilling at Golden Glove and Midway at its 100% owned Kingsway Project. These holes were drilled as part of the Company’s ongoing 100,000 metre diamond drilling program targeting the prospective Appleton Fault Zone over a 12km strike length.

Big Vein

Hole K-22-174 is the furthest hole to be drilled to the southwest at Big Vein and intersected 284.1g/t Au over 0.58m from 309.7m downhole and represents the highest grade yet intersected on the Kingsway project. The hole also intersected 15.05 g/t over 1.11m from 310.71m just below the high-grade intercept. The hole was collared 120m to the southwest of Hole K-22-122 that intersected 54.17 g/t over 0.95m (see news release dated May 5, 2022) and the mineralization remains open to the southwest.

Golden Glove

Hole K-22-154 intersected 20.07 g/t Au over 1m from 335m downhole. This hole was drilled to test for a down plunge extension of mineralization in hole K-22-150 that intersected 6.22 g/t Au over 4m from 348m including 10.31 g/t Au over 2m (see news release dated July 5, 2022).

Midway

Hole K-22-153 intersected gabbro hosted gold mineralization grading 2.2 g/t Au over 13.2m from 45m downhole (38m vertical) that included 5.23 g/t Au over 4m.

“It is exciting to find the highest-grade mineralization drilled at Kingsway, more than a year after drilling began, in the furthest hole drilled to the southwest at Big Vein. This suggests excellent potential for further high-grade mineralization as we continue drilling to the southwest and attests to the prospectivity of the Appleton Fault Zone in this area,” said Roger Moss, President and CEO. “High-grade mineralization intersected at Golden Glove down plunge from that found in the first hole is also encouraging, especially given that these holes are approximately 160m south of the discovery outcrop. We will continue to test the extent of this mineralization both down plunge and along strike. Drilling at Midway continues to demonstrate near surface gold mineralization in gabbro which is significant given the extent of gabbro at Kingsway. We expect to continue to successfully expand these three targets as well as to begin drilling new targets, such as our current drilling at CSAMT, in the months ahead.”

Hole ID

From

To

width

Au (g/t)

Zone

K-22-174

309.47

310.05

0.58

284.1

Big Vein SW

310.71

311.82

1.11

15.05

K-22-167

16

18

2

1.05

Big Vein

K-22-163

17

18

1

1.06

Big Vein

50

52

2

2.06

99

101

2

1.47

301

304

3

1.39

HTC

K-22-162

84

93

9

1.1

Pristine

108

109

1

2.33

K-22-161

67

68

1

1.62

Midway

K-22-159

275

276

1

1.02

Golden Glove

K-22-156

117

121

4

1.53

Pristine

K-22-155

156

157

1

1.13

Big Vein

163

164

1

1.54

K-22-154

242

245

3

1.95

Golden Glove

293

294

1

2.13

298

299

1

1.16

335

336

1

20.07

K-22-153

45

58

13

2.2

Midway

including

45

49

4

5.23

including

45

47

2

7.36

K-22-149

13

14

1

1.27

Pristine

K-22-146

57

57.95

0.95

1.12

Pristine

Table 1. Summary of assay results. All intersections are downhole length
as there is insufficient Information to calculate true width.

Hole ID

Northing

Easting

Elevation

Azimuth

Dip

depth

K-22-174

5434927

661344.3

42

140

45

464

K-22-167

5435283

661600

42.5

130

55

296

K-22-163

5435285

661600

42.5

130

45

317

K-22-162

5436054

661817.3

61.64

300

55

251

K-22-161

5437837

661376.9

83.96

275

55

254

K-22-159

5431876

660625.7

44.37

245

45

401

K-22-156

5436055

661817

62.17

310

45

182

K-22-155

5435222

661463.7

60.72

128

62

317

K-22-154

5431776

660538.8

48.414

265

53

389

K-22-153

5437838

661376.7

83.96

300

58

146.56

K-22-149

5436021

661804.2

61.971

260

45

227

K-22-146

5436032

661802.9

63.611

260

62

176

Table 2. Drill hole collar details

A graphic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/16a60559-1d01-4833-aba3-a9f0fa18aad5

QA/QC

True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with atomic absorption finish as well as by ICP-OES for an additional 34 elements. Samples containing visible gold are assayed by metallic screen/fire assay, as are any samples with fire assay results greater than 1 g/t Au. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.

Qualified Person

Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.

The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.

About Labrador Gold
Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.

Labrador Gold’s flagship property is the 100% owned Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 100,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone with encouraging results. The Company has approximately $26.5 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8 g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25 
th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

The Company has 168,889,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.

For more information please contact:

Roger Moss, President and CEO      Tel: 416-704-8291

Or visit our website at: 
www.labradorgold.com

Twitter @LabGoldCorp

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

Forward-Looking
Statements: 
This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

 


Release – Element79 Gold Appoints Shane Williams to Board of Directors


 

Element79 Gold Appoints
Shane Williams to Board of Directors

Resume of senior positions, managing world-class
projects with multi-billion-dollar budgets atSkeena Resources, Eldorado
Gold, and Rio Tinto Group

 
 

VANCOUVER, BC
/ ACCESSWIRE / July 7, 2022 / Element79 Gold Corp.
(CSE: ELEM) (OTC: ELMGF) (FSE: 7YS) (“Element79 Gold”, the ”
Company“) today announces that it has appointed Mr. Shane Williams, Chief Operation Officer of Skeena Resources Limited, to its Board of Directors.

Mr. Williams carries a history of significant value creation in both early-stage and operating companies, which includes senior executive and management roles overseeing and delivering world-class multi-billion-dollar projects at highly prominent companies, including:

  • Chief Operation Officer
    at Skeena Resources Limited (NYSE Listed), Eskay Creek Project
    • A key member of the Skeena Resources team as the company developed from explorer to becoming a leading tier-one developer, overseeing the flagship Eskay Creek project’s advancement towards production and increasing shareholder value by +300%. The Eskay Creek project has been estimated to have an after-tax net present value of $1.4 billion.
  • Senior Vice President
    at Eldorado Gold Corporation (NYSE Listed), $2B Global Project
    Portfolio
    • Oversaw the transition of the Lamaque Project from exploration into a successful operation in a record 18-months, with first year ramp up resulting in an increase in company value by approximately $300 million (an increase of over +50% at the time). The Lamaque mine continues to deliver significant value to Eldorado gold portfolio.
  • General Manager of
    Expansion Projects at Iron Ore Company of Canada a subsidiary of
    the Rio Tinto Group (NYSE Listed), $2.5B CAPEX
    • Managed a combined capital expenditure of $2.5 billion across a series of expansion projects and studies.

 
“I am excited
to join the BOD of Element 79 at this time. With my past experience and
history of successful project delivery, I feel have many synergies
which are directly relevant to Element 79 ongoing development in South
America and will also serve to accelerate the pace of development of
Element 79 and its various properties,” commented Mr. Williams.

Mr. Williams completed his Master of Project Management degree at the University of Limerick in Ireland and his Bachelor of Engineering degree in Electrical Engineering at Technological University Dublin. He brings with him nearly 20 years of experience in senior management and executive roles where he has delivered significant value to well-known companies in the mining and resources sectors.

“Through his experience, Shane has delivered tremendous value to Element79 Gold in his time acting as an Advisor to the Board, and we’re pleased to now be welcoming him as a Director of the Company,” remarked James Tworek, President and CEO of Element79 Gold. “The combined wealth of knowledge that has recently lent its support to Element79 Gold has the entire team eager to drive forward with the goal of accelerating greater value to shareholders on our route to the next stage of our corporate development strategy.”

About
Element79 Gold

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 Peru, Element79 Gold 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. 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.  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. For more information about the Company, please visit www.element79.gold or www.element79gold.com

 

Contact
Information

For corporate matters, please contact:
James C. Tworek, Chief Executive Officer
E-mail: jt@element79gold.com  
 

For investor relations inquiries, please contact:
Investor Relations Department
Phone: +1 (604) 200-3608
E-mail: investors@element79gold.com
 

Technical
Disclaimer

This news release and related maps contain information about adjacent properties and properties with similar characteristics on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties or properties that share similar characteristics are not indicative of mineral deposits on the Company’s properties. Readers are also cautioned that this news release contains historical technical information which is based on prior data prepared by previous property owners. A qualified person has not done sufficient work to confirm such information; significant data compilation, re-drilling, re-sampling and data verification may be required to do so.

Cautionary
Note Regarding Forward Looking Statements

This press contains “forward?looking information” and “forward-looking statements” under applicable securities laws (collectively, “forward?looking statements”). These statements relate to future events or the Company’s future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management’s experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: the proposed acquisition of certain properties and the timing for completion of such transactions; the Company’s business strategy; future planning processes; exploration activities; the timing and result of exploration activities; capital projects and exploration activities and the possible results thereof; acquisition opportunities; and the impact of acquisitions, if any, on the Company. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, forward-looking statements cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward?looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “forecast”, “potential”, “target”, “intend”, “could”, “might”, “should”, “believe” and similar expressions) are not statements of historical fact and may be “forward?looking statements”.

Actual results may vary from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: that the parties may not be able to satisfy the conditions to Closing of the Acquisition, at all or on the terms announced; the duration and effects of the coronavirus and COVID-19; risks related to the integration of acquisitions; actual results of exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; commodity prices; variations in ore reserves, grade or recovery rates; actual performance of plant, equipment or processes relative to specifications and expectations; accidents; labour relations; relations with local communities; changes in national or local governments; changes in applicable legislation or application thereof; delays in obtaining approvals or financing or in the completion of development or construction activities; exchange rate fluctuations; requirements for additional capital; government regulation; environmental risks; reclamation expenses; outcomes of pending litigation; limitations on insurance coverage as well as those factors discussed in the Company’s other public disclosure documents, available on 
www.sedar.com. Although the Company 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. The Company believes that the expectations reflected in these forward?looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward?looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

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

Sources
Element 79 Gold
makes no warranty as to the completeness, accuracy, verifiability, or
suitableness of any of the information contained on the following
third-party links and expressly undertakes no obligation to update the
following links.

 

Copyright © 2022 Element79 Gold Corp, All rights
reserved.

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Our mailing address
is:

Element79 Gold Corp

210-41 Royal Vista Dr NW

Calgary, AB T3R 0H9

Canada

Alliance Resource Partners (ARLP) – Updating Estimates and Increasing our Price Target

Wednesday, July 06, 2022

Alliance Resource Partners (ARLP)
Updating Estimates and Increasing our Price Target

ARLP is a diversified natural resource company that generates operating and royalty income from coal produced by its mining complexes and royalty income from mineral interests it owns in strategic oil & gas producing regions in the United States, primarily the Permian, Anadarko and Williston basins. ARLP currently produces coal from seven mining complexes its subsidiaries operate in Illinois, Indiana, Kentucky, Maryland and West Virginia. ARLP also operates a coal loading terminal on the Ohio River at Mount Vernon, Indiana. ARLP markets its coal production to major domestic and international utilities and industrial users and is currently the second largest coal producer in the eastern United States. In addition, ARLP is positioning itself as an energy provider for the future by leveraging its core technology and operating competencies to make strategic investments in the fast growing energy and infrastructure transition.

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

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

Updating estimates. We have updated our 2022 revenue, EBITDA and EPS estimates to $2.362 billion, $759.2 million, and $3.45 from $2.391 billion, $744.6 million, and $3.40. Our respective second quarter estimates are $588.7 million, $190.8 million, and $0.88. While our 2022 revenue estimate was trimmed about $30 million to reflect modest changes in our production estimates, we anticipate stronger margins than previously forecast. Coal prices have strengthened since the beginning of June, and we have increased our 2023 revenue, EBITDA and EPS estimates to $2.6 billion, $799.4 million, and $3.65, respectively.

A win for coal-producing states. In a win for coal-producing states last week, the U.S. Supreme Court ruled that the Environmental Protection Agency (EPA) does not have the authority to set limits on carbon emissions from existing power plants. In our view, the outcome limits federal agencies from exercising broad regulatory power beyond what is authorized by Congress and could lead to a longer transition to lower carbon fuels using a more thoughtful and balanced framework….

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 – Aurania Announces the Appointment of Thomas Ullrich to the Board and the Departure of CFO



Aurania Announces the Appointment of Thomas Ullrich to the Board and the Departure of CFO

Research, News, and Market Data on Aurania Resources


Toronto, Ontario, July 5, 2022 – Aurania Resources Ltd. (TSXV:
ARU; OTCQB: AUIAF; Frankfurt: 20Q) (“Aurania” or the “Company”) 
announces the appointment of Mr. Thomas Ullrich to the Board of Directors.  The Company also announces the departure of Mr. Tony Wood, Chief Financial Officer.  Tony has agreed to provide transitional support, on a contract basis, for Aurania’s in-coming CFO who will be announced shortly.

Mr. Ullrich has over 30 years of experience in mineral exploration and geoscience. He has been the CEO and director of Aston Bay since 2016.  Prior to that, Mr. Ullrich was Chief Geologist North America for Antofagasta Minerals plc, investigating the region’s copper potential through extensive property evaluations and management of drill programs in the United States, Mexico and Canada. Prior to Antofagasta, he was Senior Geologist for Almaden Minerals, where he managed the drill program for the team’s discovery of the Ixtaca Ag-Au deposit in Mexico. Mr. Ullrich also established the Ar-Ar geochronology lab at the University of British Columbia and studied the Candelaria Cu-Au mine, Chile, while at Queen’s University. Mr. Ullrich is also on the Technical Advisory Board for American West Metals Limited.

Aurania’s Chairman, President and CEO, Dr. Keith Barron commented, “We are delighted to have Tom join our Board as an independent director.  He brings a wealth of technical experience to our Company along with significant executive-level experience with both majors and juniors in the metals and mining industry.  We welcome his addition to our Board.

I would also like to express my gratitude to Tony Wood for his dedication and contributions to the Company during the past three years, specifically, his keen financial stewardship through more than two years of the COVID-19 pandemic. We wish Tony much success in his future endeavours.”

In conjunction with the aforementioned appointment and pursuant to the Company’s Stock Option Plan, the Board of Directors granted a total of up to 1,415,000 stock options to directors, officers, employees and consultants.  The stock options have an exercise price of C$0.84, are exercisable for five years and vest in three equal annual instalments from the date of grant. Independent directors have agreed to receive all of their director fees in the form of stock options in lieu of cash for the six-month period starting July 1, 2022 until December 21, 2022.

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 Investor Relations

Aurania Resources Ltd.

(416) 367-3200

carolyn.muir@aurania.com

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

Forward-Looking Statements
This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurania. Forward-looking statements include estimates and statements that describe Aurania’s future plans, objectives or goals, including words to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, 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, restrictions on labour and international travel and supply chains, and those risks set out in Aurania’s public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aurania disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 


Release – Eskay Mining Announces Grant of Stock Options


Eskay
Mining Announces Grant of Stock Options

Toronto,
July 4, 2022 – Eskay Mining Corp. (“Eskay” or the “Company”) (TSX-V:ESK)
(OTCQX: ESKYF) (Frankfurt: KN7; WKN: A0YDPM)
wishes to announce that an aggregate of 2,200,000 options to purchase common shares of Eskay at $1.81 per share for five years have been granted to officers, directors and consultants of Eskay. The grant is subject to acceptance by the TSX Venture Exchange.

Eskay Mining Corp (TSX-V:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario.  Eskay is an exploration company focused on the exploration and development of precious and base metals along the Eskay rift in a highly prolific region of northwest British Columbia known as the “Golden Triangle,” 70km northwest of Stewart, BC.  The Company currently holds mineral tenures in this area comprised of 177 claims (52,600 hectares).

All material information on the Company may be found on its website at www.eskaymining.com and on SEDAR at www.sedar.com.

For
further information, please contact:

Mac Balkam    T: 416 907 4020

President & Chief Executive Officer    
E:  Mac@eskaymining.com

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

Forward-Looking
Statements
:
This Press Release contains forward-looking statements that involve risks and
uncertainties, which may cause actual results to differ materially from the
statements made. When used in this document, the words “may”, “would”, “could”,
“will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and
similar expressions are intended to identify forward-looking statements. Such
statements reflect our current views with respect to future events and are
subject to risks and uncertainties. Many factors could cause our actual results
to differ materially from the statements made, including those factors
discussed in filings made by us with the Canadian securities regulatory
authorities. Should one or more of these risks and uncertainties, such as
actual results of current exploration programs, the general risks associated
with the mining industry, the price of gold and other metals, currency and
interest rate fluctuations, increased competition and general economic and
market factors, occur or should assumptions underlying the forward looking
statements prove incorrect, actual results may vary materially from those
described herein as intended, planned, anticipated, or expected. We do not
intend and do not assume any obligation to update these forward-looking
statements, except as required by law. Shareholders are cautioned not to put
undue reliance on such forward-looking statements.

Copyright © 2022 Eskay
Mining, All rights reserved.

You are receiving this email because you opted in via our website.

Our mailing address
is:

Eskay Mining

82 Richmond St E

Toronto, ON M5C 1P1

Canada

Labrador Gold Corp. (NKOSF) – Discovering Gold Along the Appleton Fault in Newfoundland

Thursday, June 30, 2022

Labrador Gold Corp. (NKOSF)
Discovering Gold Along the Appleton Fault in Newfoundland

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

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

Initiating coverage with an Outperform rating. Labrador Gold is advancing its flagship Kingsway gold project in the Central Newfoundland Gold Belt. The company is nearly midway through a 100,000-meter drilling program targeting high-grade gold mineralization along a 12-kilometer section of the Appleton Fault Zone. The company’s portfolio also includes the Hopedale project that covers much of the Florence Lake Greenstone Belt in Labrador, the Borden Lake Extension in Ontario which consists of 219 claims that are 100% owned by Labrador Gold, and the Scotch property which consists of 25 claims encompassing an area of 61 square kilometers near New Brunswick.

Drilling program yielding promising results. Holes have been drilled at the Big Vein, Pristine, Midway, and Golden Glove targets. All four targets have produced impressive assay results. The company recently started drilling a fifth target, CSAMT, and expects to drill a total of ten holes. At Big Vein, near surface high-grade gold intersections include 276.56 grams of gold per tonne over 0.5 meters, 44.08 grams of gold over 4.28 meters, and 128.51 grams of gold over 1.12 meters. Exploration along the Appleton Fault continues to generate new targets….

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 – Labrador Gold Raises $3.88 Million From Exercise Of Share Purchase Warrants


TORONTO, ON, June 29, 2022 – Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce that it has raised $3,885,285.90 from the recent exercise of share purchase warrants (the “warrants”) with a strike price of $0.175 and $0.30. The warrant exercise increases the Company’s cash position to $26.5 million. Management and directors of Labrador Gold were among those exercising warrants.

“The funds brought in by the exercise of the warrants adds to an already robust treasury and allows us to continue our ongoing exploration of the 12km strike length of the Appleton Fault Zone at our 100% owned Kingsway Project,” said Roger Moss, President and CEO. “The hard work of the LabGold team over the past two years has resulted in the generation and successful drilling of four out of four gold targets. This demonstrates both the ability of our people on the ground as well as the prospectivity of the Kingsway project, and the Appleton Fault Zone in particular. We look forward to another exciting summer of discovery as we prove up more targets in the pipeline and get them ready for drilling.”

Exploration Update

Drilling continues at Kingsway with four drill rigs. Two rigs are working at Big Vein, one testing the down plunge extension of the high-grade HTC Zone below 250m, and the other testing the southwest extension of the Big Vein Zone. A third rig continues to test the Golden Glove target while the fourth rig tests the CSAMT target approximately eight kilometres northeast of Big Vein. The CSAMT target was generated from geophysical (controlled source audio magnetotellurics, magnetics and VLF-EM) and geochemical (gold in soil, rock and till) anomalies and is in an area of structural complexity. Both the Golden Glove and CSAMT targets occur on the east side of the Appleton Fault Zone. Approximately 44% of the 100,000 metre planned program has been completed to date. 

Qualified Person

Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.

The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.

About Labrador Gold

Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.

In early 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 50,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone following encouraging early results. The Company has approximately $26.5 million in working capital and is well funded to carry out the planned program.  

The Hopedale property covers much of the Florence Lake greenstone belts that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

The Company has 168,889,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB. 

For more information please contact:             
Roger Moss, President and CEO
Tel: 416-704-8291
Or visit our website at: www.labradorgold.com
@LabGoldCorp

Release – Element79 Gold Completes Acquisition of High-Grade Peruvian Gold Portfolio


Element79 Gold Completes Acquisition of High-Grade Peruvian Gold Portfolio

Historic production averaging up to 19 g/t Au Equivalent, Recent
sampling returned up to 116 g/t Au Equivalent, Includes one of the
highest-grade underground mines in Peru’s history

VANCOUVER, BC / ACCESSWIRE / June 29, 2022 / Element79
Gold Corp. (CSE:ELEM)(OTC PINK:ELMGF)(FSE:7YS)
(“Element79
Gold”
, the “Company“) announces that pursuant to the definitive share purchase agreement dated June 19, 2022 (the “Agreement“), it has closed the acquisition of all of the issued and outstanding common shares of Calipuy Resources Inc. (“Calipuy”) from the shareholders of Calipuy (the “Calipuy Shareholders“). Calipuy, through its subsidiaries, holds 100% interest in two past producing gold-silver mines: the Lucero mine (“Lucero”), one of the highest-grade underground mines in Peru’s history(1) at grades averaging 19.0 g/t Au Equivalent (“Au Eq”) (14.0 g/t gold and 373 g/t silver),(1,2) as well as the Machacala Project (“Machacala”
and, together with Lucero, the “Properties“) which averaged production grades of 10.5 g/t Au Eq (6.0 g/t gold and 340 g/t silver).
(3) Operations were suspended in 2005 at Lucero and 1991 at Machacala due to the persistence of low gold and silver prices at the time. Element79 Gold has previously disclosed the terms of the Agreement (see news release dated June 20, 2022, available on SEDAR).

Highlights of the High-Grade Peruvian Gold Portfolio :

  • Recent samples at Lucero returned up to 116.8 g/t Au Eq (78.7g/t Au and 2,856 g/t Ag)(9); Consistent with historic high grade production of 19.0 g/t Au Eq (14.0 g/t Au and 373 g/t Ag) between 1998 and 2004(2); Recent historic prospecting indicates potential for additional bulk-tonnage high-sulphidation gold-silver deposit
  • Most recent drilling at Machacala returned up to 15.7 g/t Au Eq (13.55 g/t AU and 164 g/t Ag) over 3.15m in the drill hole Ma-04 on the Fragua vein(10); 230,000 tonnes of historical production averaging 10.5 g/t Au Eq (6.0 g/t Au and 340 g/t Ag) from 1979 to 1991(3);

“The closing of the Calipuy transaction delivers high-grade assets, potentially capable of operating in the near-term, to Element79 Gold’s growing portfolio, offering an expedited route toward cash-flow generation through these significant production-stage properties,” commented James Tworek, President and CEO of the Company. “With the on-site team being assembled and planning is underway for both sites, Element79 Gold’s focus is to accelerate the timeline to operations at these properties by expanding on current datasets and exploration at each asset.”

Peru has a mining-friendly legislation that allows up to 350 tpd production while larger scale production permitting is underway. Element79 Gold has previously stated that it intends to pursue the opportunities aggressively (see news releases dated March 10, 2022, March 17, 2022, and June 20, 2022, available on SEDAR).

Lucero Project

Formerly operated as the Shila mine from 1989 to 2005, Lucero consists of 10,805 hectares located in the Shila range of southern Peru, which contains several historic high grade gold-silver mines.(1) Lucero consistently delivered high grades during 16 years of operations, and between 1998 and 2004 reported production averaging approximately 18,800 ounces of gold and 435,000 ounces of silver per year at grades of 19.0 g/t Au Eq (14.0 g/t Au and 373 g/t Ag),
(2) with recoveries at the ore processing facility averaging 94.5% for gold and 85.5% for silver.(1)

A recent NI 43-101 technical report on Lucero has been prepared for Calipuy by Mining Plus. Samples collected by the technical report’s Qualified Person (the “QP“) returned up to 116.8 g/t Au Eq (78.7g/t Au and 2,856 g/t Ag)(9). Due to a lack of historical data, the project does not host any resources. However, access to the historic workings is available, and the QP states Lucero is underexplored and has significant exploration potential for extension of known veins, and to discover additional veins.(9)

Lucero is one of many low-sulphidation epithermal Au-Ag deposits hosted in tertiary volcanics of the Central Andes Cordillera of southern Peru. The project hosts 74 recognized epithermal veins, 14 of which have been partially exploited. High grade ‘bonanza-style’ direct shipping ore was mined in the past from low-to-intermediate-sulphidation quartz-carbonate massive sulphide veins. Prospecting by previous operator Condor Resources Inc. from 2012 to 2020 identified the high-sulphidation epithermal alteration zone with structures that returned peak sample values of 80.1 g/t Au Eq (33.4 g/t Au and 3,500 g/t Ag)(11). This alteration zone, measuring approximately 1,300 metres by 1,400 metres, exhibited no evidence of prior sampling or drilling and is believed to host potential for a bulk tonnage disseminated gold-silver deposit.(1)

“Lucero offers a rare opportunity to explore for not only an underground high-grade low sulphidation system but potentially an open pit-able high sulphidation system as well,” stated Neil Pettigrew, M.Sc., P.Geo, Director of Element79 Gold “This project has never experienced modern exploration techniques and I am very confident that significant gold-silver resources are to be found.”

A 0.5% Net Smelter Returns royalty is retained by Sandstorm Gold Ltd., one of the largest gold royalty companies in the world.(2)

Machacala Project

Machacala consists of over 4,000 hectares located in the District of Carabamba, Province of Julcan, Department of La Libertad. In 2004, Gold Hawk Resources, Inc. (”
Gold Hawk“) estimated a total inferred resource of 420,000 Au Eq ounces hosted within 1,560,000 tonnes, which equates to a gold equivalent grade of 8.4g/t, however individual gold and silver grades were not reported.(4) This historic estimate is the most recent historic resource estimate relevant to Machacala. In additional Machacala also includes approximately 200,000 tonnes of tailings, which have historically been estimated in 2004 to grade 1.26 g/t gold and 74 g/t silver(6). This historical tailings estimate is historic in nature, and non-43-101 compliant. Historical metallurgical studies by Gold Hawk show 87% recoveries of gold and 50%+ recovery of silver in 24 hours of leaching un-milled tailings, with re-milling able to increase recoveries to 90% of gold and 73% of silver in 24 hours of leaching.(7). A qualified person has not
conducted sufficient work on either the historical Gold Hawk or Tailings
estimates required to categorize these resources to the CIM definition of a
current mineral resources, which may include the preparation of a new NI 43-101
Technical Report. Element79 Gold is not treating these historic estimates as
current mineral resources and a qualified person has not reviewed the work to
define the quality of work associated with this historic estimate.

While these historical estimates are considered to be relevant to
future exploration of the Machacala property they should not be relied upon and
there can be no assurance that any of the historical resources, in whole or in
part, will ever become economically viable.

Machacala was first commercially mined in the 1950s before being acquired and operated by Minera Santa Isabel, S.A. from 1979 to 1991 which mined 230,000 metric tonnes averaging 10.5 g/t Au Eq (6.0 g/t Au and 340 g/t Ag) representing 78,000 Au Eq ounces.
(4) Operations were suspended in 1991 due to the persistence of a low gold ($360/oz) and silver ($3.81/oz) price. Neighboring concessions include those owned by Fortescue Metals Group (ASX Listed) and by Fresnillo Peru S.A.C., a subsidiary of Fresnillo plc (LSE Listed).(3,5)

The project was most recently explored by Gold Hawk and Meridian Gold between 1997 and 2004, with a total of 8,500m in 45 core and RC drill holes completed. Highlights of this drilling include 11.6 g/t Au Eq (11.32 g/t Au and 23.6 g/t Ag) over 3.7m in the Casa Fuerza vein, and 15.7 g/t Au Eq over 3.15 m (13.55 g/t Au and 164 g/t Ag) in the Fragua vein10). Machacala hosts multiple low-sulphidation epithermal Au-Ag veins, of which only four have been only modestly exploited.(5)

A 1.5% Net Smelter Returns royalty is retained by previous owners of the property.

“Machacala possesses significant historical data, as well as 8,500 meters of recent drilling, which we hope will assist in the definition of NI 43-101 compliant resources,” commented Neil Pettigrew, M.Sc., P.Geo, Director of Element79 Gold. “The project is also at a low elevation and has excellent infrastructure which will facilitate returning the project to production.”

Terms of the Acquisition

Pursuant to the Agreement, the Company acquired all of the issued and outstanding securities of Calipuy from the Calipuy Shareholders (the “Acquisition“). As consideration for the Acquisition, the Company paid USD$15 million by the issuance, on a pro rata basis to the Calipuy Shareholders, of (i) an aggregate of 19,165,484 common shares of the Company at deemed issue price of CAD$1.00 per share (the “Consideration Shares“) and (ii) performance bonus warrants to acquire an aggregate of 3,833,085 common shares of the Company (the “PerformanceBonus Warrants“).

Each Performance Bonus Warrant is exercisable into one common share of the Company at an exercise price of CAD$2.00 per share for a period of three years from Exercise Eligibility Date (as defined herein), subject to achievement of the Bonus Performance Target (as defined herein), the policies of the Canadian Securities Exchange (the “Exchange“) and the terms of warrant certificates to be issued to the Calipuy Shareholders in respect thereof. The Company may accelerate expiry of the Performance Bonus Warrants if the common shares of the Company have a closing price greater than CAD$3.50 per share for a period of ten consecutive trading days on the Exchange at any time after the closing of the Acquisition (the “Closing“). The holders of the Performance Bonus Warrants will not have the right to exercise the Performance Bonus Warrants until projects carried out on the Properties have cumulatively reached a minimum production target of 9,000 tons of ore yielding a minimum of 1,500 oz Au within a 30-day production period (the ”
Bonus PerformanceTarget“) and the Company provides notice of achievement of the Bonus Performance Target via news release (the “Exercise EligibilityDate“).

All issuances of Consideration Shares were paid in CAD denominated shares at the agreed exchange rate of CAD$1.2777 to USD$1.00. An aggregate of 12,971,503 Consideration Shares and 2,594,298 Performance Bonus Warrants are subject to a lock-up agreement, whereby 50% will be released from lock-up 6 months from Closing and the remaining 50% will be released 12 months from Closing. The balance of the Consideration Shares and Performance Bonus Warrants, other than those held by U.S. persons, are not subject to any resale restrictions under applicable securities laws.

The Acquisition is a related party transaction pursuant to Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions (“MI
61-101
“). Antonios Maragakis, who is the CEO and a director of Calipuy, is also a director and the COO of the Company. Shane Williams, who was a director of Calipuy immediately prior to the Closing, was recently elected as a director of the Company at its Annual General Meeting on June 22, 2022 (together, the “Related Parties“). Each of the Related Parties have disclosed their interest in the Acquisition to the board of directors of each of the Company and Calipuy, and abstained from voting on approval of the Agreement, the Acquisition and the Closing. Prior to Closing, neither of the Related Parties held any common shares of the Company, and following Closing their beneficial direct and indirect shareholdings increased to 97,688 common shares and 292,509 common shares, respectively. The Acquisition, the Agreement and the Closing were reviewed and considered by the disinterested members of the board of directors of the Company with each of the Related Parties recusing themselves from discussions relating to the same, and the disinterested members of the board unanimously approved entry into the Agreement and completion of the Acquisition on the terms of the Agreement. The Company believes that the Acquisition provides an opportunity to advance the Properties and deliver value to Element79 shareholders. A special committee was not formed for the purpose of reviewing the Acquisition and an independent valuation was not obtained in connection with the Acquisition. On Closing, each of the Related Parties terminated any and all compensation agreements they had with Calipuy and waived any entitlement to severance or change of control payments by Calipuy that would have otherwise been triggered as a result of the Acquisition. In connection with the Acquisition, the Company relied on (i) the exemption at paragraph 5.5(b) of MI 61-101 from the valuation requirements since the Company is not listed on any of the markets specified therein; and (ii) the exemption at paragraph 5.7(a) of MI 61-101 from the minority approval requirements as the fair market value of the 97,688 Consideration Shares and 19,537 Performance Bonus Warrants issued to Mr. Maragakis, and the 292,509 Consideration Shares and 58,501 Performance Bonus Warrants issued to a company controlled by Mr. Williams, on Closing is less than 25% of the market capitalization of the Company.

All Au Equivalent calculations were performed using $1,650/oz gold, and $22/oz silver in line with the Company’s Maverick Springs 43-101 resource estimate (see news release January 31st, 2022, available on SEDAR).

Qualified Person

The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Director of Element79 Gold and a “qualified person” as defined by National Instrument 43-101.

About Element79 Gold

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 well-known gold mining district of northeastern Nevada, USA, between the Elko and White Pine Counties, where it has recently completed a technical report, 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 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, subject to the royalties and encumbrances detailed in the Agreement. 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. For more information about the Company, please visit www.element79.gold or www.element79gold.com

Contact Information

For corporate matters, please contact:

James C. Tworek, Chief Executive Officer
E-mail: jt@element79gold.com

For investor relations inquiries, please contact:

Investor Relations Department
Phone: +1 (604) 200-3608
E-mail: investors@element79gold.com

Aurania Resources (AUIAF) – Technical Report Planned for Core Concessions Renewed in Peru

Monday, June 27, 2022

Aurania Resources (AUIAF)
Technical Report Planned for Core Concessions Renewed in Peru

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

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

Renewal of concessions in Peru. In aggregate, 130 concessions were renewed covering an area of 128,700 hectares. Thirty of these concessions did not require payment in 2022 and the total cost for the other 100 concessions was US$296,000. The concessions renewed represent a majority of those that had been previously granted to Aurania and are those identified with the most significant geological potential.

Initial technical report. Management contemplates a modest amount of field work in the coming months to prepare an initial technical report to support further work and/or a possible corporate transaction. A technical report would be required in advance of any potential corporate transaction….

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 – Maple Gold Announces Voting Results of Annual General and Special Meeting



Maple Gold Announces Voting Results of Annual General and Special Meeting

Research, News, and Market Data on Maple Gold Mines

Vancouver, British Columbia–(Newsfile Corp. – June 24, 2022) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF)
(FSE: M3G) 
(“Maple Gold” or the “Company“) is pleased to announce the voting results at its Annual General and Special Meeting of shareholders held on Friday, June 24, 2022 (the “Meeting“).

The Company’s shareholders voted in favour of all matters brought before the Meeting, at which a total of 157,067,753 common shares were represented in person or by proxy, representing 46.8% of the Company’s issued and outstanding common shares. All director nominees set out in the Management Information Circular dated May 16, 2022 were elected as directors to serve until the next meeting of shareholders of the Company. Details of voting are as follows:

Nominee

Votes For

% Votes For

Votes Withheld

% Votes Withheld

Michelle Roth

110,433,268

81.77%

24,624,291

18.23%

B. Matthew Hornor

120,380,290

89.13%

14,577,269

10.87%

Sean Charland

103,012,749

76.27%

32,044,810

23.73%

Dr. Gérald Riverin

110,252,342

81.62%

24,805,217

18.37%

Maurice A. Tagami

105,145,793

77.85%

29,911,767

22.15%

 

At the Meeting, the shareholders of the Company also approved:

  • The re-appointment of Deloitte LLP as the auditor of the Company for the ensuing year and authorized the directors to fix their remuneration; and
  • The Company’s Amended and Restated Equity Incentive Plan as described in the information circular dated May 16, 2022.

Details of votes on all matters of business considered at the Meeting are available in the Company’s report of voting results on SEDAR (www.sedar.com).

About Maple Gold

Maple Gold Mines Ltd. is a Canadian advanced exploration company in a 50/50 joint venture with Agnico Eagle Mines Limited to jointly advance the district-scale Douay and Joutel gold projects located in Quebec’s prolific Abitibi Greenstone Gold Belt. The projects benefit from exceptional infrastructure access and boast ~400 km2 of highly prospective ground including an established gold resource at Douay (SLR 2022) that holds significant expansion potential as well as the past-producing Eagle, Telbel and Eagle West mines at Joutel. In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property.

The district-scale property package also hosts a significant number of regional exploration targets along a 55 km strike length of the Casa Berardi Deformation Zone that have yet to be tested through drilling, making the project ripe for new gold and polymetallic discoveries. The Company is well capitalized and is currently focused on carrying out exploration and drill programs to grow resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi. For more information, please visit 
www.maplegoldmines.com.

ON BEHALF OF
MAPLE GOLD MINES LTD.

“Matthew Hornor”

B. Matthew Hornor, President & CEO

For
Further Information Please Contact:

Mr. Joness Lang
Executive Vice-President
Cell: 778.686.6836
Email: 
jlang@maplegoldmines.com

Mr. Kiran Patankar
SVP, Growth Strategy
Cell: 604.935.9577
Email: 
kpatankar@maplegoldmines.com

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

Forward
Looking Statements:

This press release contains “forward-looking information” and “forward-looking statements” (collectively referred to as “forward-looking statements”) within the meaning of applicable Canadian securities legislation in Canada, including statements about exploration work and results from current and future work programs. Forward-looking statements are based on assumptions, uncertainties and management’s best estimate of future events. Actual events or results could differ materially from the Company’s expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Maple Gold Mines Ltd.’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.maplegoldmines.comThe Company does not intend, and expressly
disclaims any intention or obligation to, update or revise any forward-looking
statements whether as a result of new information, future events or otherwise,
except as required by law.