Category: Natural Resources

Garibaldi Resources Corp (GGIFF) – On the Right Path

Posted on by cpatches


Friday, September 23, 2022

Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in British Columbia and Mexico.

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 diamond drill program. The 2022 diamond drill program at the company’s E&L nickel-copper-cobalt project is testing targets from the 2021 Geotech deep penetrating Z-Axis Tipper Electromagnetic (ZTEM) survey. These include several large-scale low resistivity ZTEM anomalies that are within a plane that contains massive and disseminated sulphide zones.

Off to a promising start. The first deep hole completed at Nickel Mountain in 2022, EL-22-97b, intersected two intervals of E&L gabbro more than 200 meters down plunge from previous drilling and intersected nickel-bearing disseminated and semi-massive sulphide mineralization. The mineralization is hosted by gabbro and peridotite 205 meters down-trend of the previous deepest mineralized intercept at E&L on Nickel Mountain. The drill hole targeted the down plunge extension of the eastern zone of the E&L Intrusion, coincident with a large-scale low resistivity/elevated conductivity ZTEM anomaly.


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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. 

Defense Metals Corp. (DFMTF) – Diamond Drilling Nearing Completion

Posted on by cpatches


Friday, September 23, 2022

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.

Drilling nearing completion. Defense Metals released results for the first two drill holes, representing 720 meters of drilling, associated with the company’s ongoing 2022 diamond drill program. To date, 15 drill holes, representing 4,800 meters of drilling, have been completed. In aggregate, the company expects to complete 5,000 meters of drilling in 18 holes to upgrade existing resource categories. The company is completing remaining pit slope geotechnical and hydrogeological holes. The initial results were favorable and demonstrate continuity of mineralization over significant widths. Investors should expect a steady flow of assay results from the company in the weeks and months ahead.

Encouraging drill results. Hole WI22-64 returned a broad mineralized intercept of high-grade dolomite carbonate in the upper portions of the hole, and mixed mineralized xenolithic dolomite carbonate and syenite at depth averaging 1.78% total rare earth oxide (TREO) over 192 meters, including 3.13% TREO over 73 meters. The partial assays reported for WI22-64, one of the deepest holes drilled to date, are from surface to a depth of 284 meters. Results for the remaining 101 meters to the end of hole at 384.5 meters are expected shortly. Hole WI22-62 collared 120 meters to the north of WI22-64, intersected a 109-meter interval of mineralized dolomite carbonatite returning 1.39% TREO over 167 meters, including 2.29% TREO over 48 meters.


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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 Corp. Initial Drilling Results Yield 1.78% Over 192 Metres Total Rare Earth Oxide at Wicheeda; Including 3.13% Over 73 Metres

Posted on by [email protected]

Research, News, and Market Data on DFMTF

VANCOUVER, BC, Sept. 22, 2022 /CNW/ – Defense Metals Corp. (“Defense Metals” or the “Company“) ( TSXV: DEFN)  (OTCQB: DFMTF) (FSE: 35D) is pleased to announce results for the first two drill holes totalling 720 metres from the Company’s 2022 diamond drill program that is still underway. To date, a total of 15 drill holes totalling 4,800 metres have been completed of a planned 18 holes totalling 5,000 metres (96% complete) designed to upgrade existing resource categories. Drill holes WI22-64 and WI22-62, the first and third holes drilled, were collared from the two sites within the northern area of the Wicheeda Rare Earth Element (REE) deposit.

Figure 1. Drill Section Holes WI22-64 (CNW Group/Defense Metals Corp.)

Figure 2. Drill Section Holes WI22-62 (CNW Group/Defense Metals Corp.)

Infill drill hole WI22-64 (-65o dip / 204o azimuth) drilled southwest to depth within central area of the deposit yield a broad mineralized intercept of high-grade dolomite carbonate higher in the hole, and mixed mineralized xenolithic dolomite carbonate and syenite at depth averaging 1.78% total rare earth oxide (TREO) over 192 metres; including 3.13% TREO over 73 metres1 (Figure 1). The assays reported for WI22-64, one of the deepest holes drilled to date on the Wicheeda Project are partial from surface to a downhole depth of 284 metres. Assay results for the remaining 101 metres to end of hole at 384.5 metres are expected in the coming days.

Drill hole WI21-64 (-50o dip / 204o azimuth) collared 120 metres to the north of WI21-64, intersected a 109 metre drilled interval of mineralized dolomite carbonatite above a mixed xenolithic dolomite carbonatite and syenite at depth returning 1.39% TREO over 167 metres; including 2.29% TREO over 48 metres1 (Figure 2).

Kristopher Raffle, P.Geo. and Director and QP of Defense Metals stated: “We are pleased to have started receiving assays for our ongoing 2022 Wicheeda REE Deposit infill drilling campaign. These initial results compare very favourably to our PEA mineral resource cut-off of 0.5% TREO and continue to demonstrate continuity of mineralization over significant widths. We expect additional results in the coming days, weeks, and months ahead. With the 2022 drill campaign now 96% complete, we look forward to finishing a small number of remaining pit slope geotechnical and hydrogeological holes designed to inform any Preliminary Feasibility Studies.”

Table 1. Wicheeda REE Deposit 2022 Diamond Drill Intercepts

About the Wicheeda REE Property

The 100% owned 4,244-hectare Wicheeda REE Property, located approximately 80 km northeast of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is near infrastructure, including power transmission lines, the CN railway, and major highways.

The Wicheeda REE Project yielded a robust 2021 preliminary economic assessment technical report (PEA) that demonstrated an after-tax net present value (NPV@8%) of $517 million, and 18% IRR3. A unique advantage of the Wicheeda REE Project is the production of a saleable high-grade flotation-concentrate. The PEA contemplates a 1.8 Mtpa (million tonnes per year) mill throughput open pit mining operation with 1.75:1 (waste:mill feed) strip ratio over a 19 year mine (project) life producing and average of 25,423 tonnes REO annually. 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.

____________________________
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).

Methodology and QA/QC

The analytical work reported on herein was performed by ALS Canada Ltd. (ALS) at Langley (sample preparation) and Vancouver (ICP-MS fusion), B.C. 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. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a director of Defense Metals and a “Qualified Person” as defined in NI 43-101. Mr. Raffle verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein. 

About Defense Metals Corp.

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”.

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, drill results including anticipated timeline of such results/assays, the Company’s plans for its Wicheeda REE Project, expanded resource and scale of expanded resource, expected results and outcomes, Wicheeda site visit and expected outcomes, 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.

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

Release – Garibaldi Intersects Semi-Massive Nickel Sulphides

Posted on by [email protected]

Research, News, and Market Data on GGIFF

VANCOUVER, BC, Sept. 22, 2022 /CNW/ – Garibaldi Resources ( TSXV: GGI) (the “Company” or “Garibaldi“) is pleased to announce that diamond drill-hole EL-22-97b has intersected nickel-bearing disseminated and semi-massive sulphide mineralization. The mineralization is hosted by taxitic and orbicular-textured gabbro and pyroxene peridotite 205 meters down-trend of the previous deepest mineralized intercept at E&L on Nickel Mountain. The drill hole targeted the down plunge extension of the eastern zone of the E&L Intrusion, coincident with a large-scale low resistivity / elevated conductivity ZTEM anomaly identified last season by Geotech’s deep-penetrating ZTEM survey.

Figure 1 – West facing section showing drill trace EL-22-97b which intersected two intervals of E&L gabbro 200m down plunge of previous drilling . Both intersections of gabbro contain sections of well mineralized E&L gabbro with disseminated, blebby, and semi massive sulphide. The gabbro sections occur along the plane of the E&L intrusion coincident with a large scale ZTEM resistivity anomaly more than 3 km in depth. (CNW Group/Garibaldi Resources Corp.)

Garibaldi’s 2022 drill program is focused on testing several large-scale low resistivity ZTEM anomalies within the Company’s 100% owned E&L nickel-copper-cobalt massive sulphide project. E&L mineralization also contains gold, silver, platinum group metals platinum, palladium (PGM’S) together with rhodium, iridium, and ruthenium (collectively termed PGEs). The 180 sq. km. claim group is centered in the heart of the Eskay District within the Golden Triangle of Northwest British Columbia.

The latest intercept is in the plane of the E&L Intrusion, and rests immediately below the Eastern Extension mineralization associated with a differentiated sequence of peridotitic and gabbroic rocks. The complex orbicular textures in the gabbros are characteristic of the E&L Intrusion in both the Eastern Extension and the newly identified root zone ~200m below. The target was drilled as a major step-out from the known intrusion to establish whether a low resistivity ZTEM anomaly beneath E&L corresponds to the plane of additional mineralized segments of the intrusion within the plane of prospective geology. The discovery of mineralized taxitic and orbicular-textured gabbros and pyroxene peridotite expands the potential scale of mineralization well below the previously drill tested 600 x 650 meter plane of the mineralized E&L Intrusion. Most importantly, drill hole EL-22-97b demonstrates the potential for mineralization coincident with the plane of the E&L intrusion at depth within the anomalous zone identified by the ZTEM survey.

Exploration Highlights:

  • Hole EL-22-97b extends E&L mineralization more than 205 meters down trend from previous drilling. The drill hole was collared 383m downslope from EL-20-91 and 92, and 216m east of and below the adit, cutting through the plane of the E&L Intrusion, allowing for more efficient drilling operations and providing an optimal Bore-hole Electro-Magnetic (BH-EM) platform for surveying.
  • E&L intrusion rock types were intercepted from 440 – 480m, and 589 – 609m with semi-massive sulphides occurring at 472.2 and 597.3m. Portable XRF measurements taken on these sulphide grains returned 2.8% Ni and 1.1% Ni, respectively. *
  • The sulphide-bearing rocks of the intrusion plunge for more than 800 meters and remain open beneath the E&L Intrusion.
  • These intercepts of mineralized E&L type rocks are in the plane of the E&L Intrusion, and coincide with the footprint of the previously modelled ZTEM anomaly, which extends for more than 3 km.
  • The drill hole was designed to test the plane of the E&L Intrusion at depth below previous drilling and successfully intercepted two intervals of E&L gabbro, which contain sections of disseminated, blebby and semi massive sulphides.
  • The hole has been lined from top to bottom with PVC to facilitate Borehole Electromagnetic surveys.

Jeremy Hanson, Garibaldi VP-Exploration, stated: “We are very encouraged by the results from EL-22-97b,  we took a 200m step-out down plunge and intercepted multiple intervals of mineralized E&L type intrusive rocks with disseminated and semi-massive nickel bearing sulphides. Typically, when we find disseminated and semi-massive sulphides, massive sulphides are not too far away.” 

Dr. Peter Lightfoot, Technical Advisor to Garibaldi, stated: “The complex assemblage of taxitic and orbicular-textured gabbros together with olivine pyroxenite encountered in drill hole EL-22-97b indicates that the E&L mineral system extends to depth along the predicted planar path. Significant exploration step-outs to test this plane will greatly improve our efforts to locate extensions of mineral zones using borehole EM methods.”

Nickel Mountain Section

Steve Regoci, Garibaldi CEO stated “This first hole, provides strong support for the proposition that ZTEM responses may represent the expression of a mineralized system. We’re anxious to drill test the deep seated ZTEM targets along the 15km base metal corridor of the NMGC to Mount Shirley for sulphide minerals.”                         

EL-22-97 was initially collared upslope of the adit at 396390 mE 6271118mN, 1567 masl, at 367°/-70° but failed to progress through difficult ground at 232m. The hole was abandoned well before target depth. EL-22-97b was recollared 213m downslope at 396442 mE, 6270938mN, 1463m masl at 342°/-50°. This hole succeeded to target depth and encountered mineralization at the initial area of interest targeted in EL-22-97.

Quality Assurance/Quality Control (QA/QC) 

Garibaldi Resources has applied a rigorous quality assurance/quality control program at the E&L Nickel Mountain Project using best industry practice. All core is logged by a geoscientist and selected intervals sampled. HQ and NQ drill core is sawn in half and each sample half is placed in a marked sample bag with a corresponding sample tag then sealed. The remaining half core is retained in core boxes that are stored at a secure facility in Smithers, British Columbia. Chain of custody of samples is recorded and maintained for all samples from the drill to the laboratory.

All diamond drilling sample batches included 5% QA/QC samples consisting of certified blanks, standards and field duplicates. Multiple certified ore assay laboratory standards and one blank standard were used in the process. Samples were submitted to SGS Canada Inc. in Vancouver, British Columbia, an ISO 9001: 2008 certified lab, for base metal, sulphur and precious metal analysis using Inductivity Coupled Plasma (ICP), Fire Assay (FA) and Leco methods. Samples were prepared by crushing the entire sample to 75% passing 2mm, riffle splitting 250g and pulverizing the split to better than 85% passing 75 microns. Gold, platinum and palladium were analyzed using a 30-gram fire assay and ICP-AES. Total sulphur and total carbon were analyzed using a Leco method. Nickel, copper, cobalt, silver and base metals were analyzed by sodium peroxide fusion and ICP-MS. The performance on the blind standards, blanks and duplicates achieved high levels of accuracy and reproducibility and has been verified by Jeremy Hanson, a qualified person as defined by NI-43-101. *XRF measurements were taken with a Niton XL5. XRF measurements analyze a very small, select section of material approximately 0.16cm2 per measurement and results are not representative of the overall rock or material.

Qualified Person & Data Verification

Jeremy Hanson, P.Geo., a qualified person as defined by NI- 43-101, has supervised the preparation of and reviewed and approved of the disclosure of information in this news release. Mr. Hanson has verified the data, including drilling, sampling, test and recovery data, by supervising all of such procedures. There are no known factors that could materially affect the reliability of data collected and verified under his supervision. No quality assurance/quality control issues have been identified to date.

About Garibaldi

Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in British Columbia and Mexico.

We seek safe harbor.

GARIBALDI RESOURCES CORP.

Per: “Steve Regoci”
Steve Regoci, President

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

SOURCE Garibaldi Resources Corp.

For further information: GARIBALDI RESOURCES CORP., 1150 – 409 Granville Street, Vancouver, BC V6C 1T2, Telephone: (604) 488-8851, Website: GaribaldiResources.com

Allegiant Gold (AUXXF) – East Pediment Drilling Highlights Eastside’s Discovery Potential

Posted on by cpatches


Thursday, September 22, 2022

Allegiant owns 100% of 10 highly-prospective gold projects in the United States, seven of which are located in the mining-friendly jurisdiction of Nevada. Three of Allegiant’s projects are farmed-out, providing for cost reductions and cash-flow. Allegiant’s flagship, district-scale Eastside project hosts a large and expanding gold resource and is located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.

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

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

Reverse Circulation (RC) drilling program. Allegiant completed a 32-hole RC drill program focusing on two areas outside the Original Pit Zone, including the East Pediment and Western Anomaly. Twenty-one holes were drilled on the East Pediment at an average depth of 203 meters and 11 holes were drilled on the Western Anomaly at an average depth of 223 meters. The company will conduct a follow-up RC drill program consisting of approximately 20 holes for a total of 5,000 additional meters of drilling. The rig is expected to arrive on site around October 20.

East Pediment discovery. Drilling on the East Pediment encountered mineralized rhyolite with assays returning values above 0.1 gram of gold per tonne over 51.5 meters of the 242-meter length of Hole ES-258. Intercepts include 86.4 to 93.9 meters averaging 1.3 grams of gold per tonne, including 86.4 to 87.9 meters averaging 4.4 grams of gold per tonne, along with 197 to 229 meters averaging 0.28 grams of gold per tonne. Allegiant intends to drill a grid pattern of offset holes in all directions around Hole ES-258 in late October 2022. The best intercepts associated with the West Anomaly were 34.8 to 45.4 meters averaging 0.93 grams of gold per tonne in Hole ES-268 and 76.7 to 83.8 meters averaging 1.4 grams of gold in Hole ES-264.


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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 – Allegiant Makes New Discovery At Eastside’s East Pediment and Stakes Additional Claims

Posted on by [email protected]

News, Research, and Market Data on AUXXF

Reno, Nevada /September 21, 2022 – Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is very pleased to announce a new discovery of mineralized rhyolite at the East Pediment, Eastside Project, Tonopah, Nevada. The new discovery has led the Company to stake an additional 194 mining claims in the immediate vicinity near Hole ES-258 within an area of similar geology.  

Eastside Project Highlights

  • Discovery of new mineralization with >0.1 g/t Au over 51.5m including 7.5m averaging 1.3g/t Au
  • Staking of additional 194 federal lode mining claims near hole ES-258
  • Follow-up reverse circulation (“RC”) drilling program to commence in October 2022
  • Ongoing deep diamond drill core program in the Original Pit Zone (“OPZ”)
  • Project wide airborne magnetic survey to be conducted in < 6 weeks

Peter Gianulis, CEO of Allegiant Gold, commented: “We are excited to have made a new discovery outside of the OPZ at Eastside from this recently completed RC drill program.  In continuation to our philosophy that exploration drilling is key to making new discoveries, we were proud to have completed this extended exploration program intended to expand the resource potential at Eastside. The project continues to surprise us, we believe that additional discoveries will be made as we conduct additional exploration including the current 4,000m DDH program upon which we are focused.”

The Company has also staked an additional 194 claims that it believes are of strategic importance in relation to our new discovery (see Map 1). 

The OPZ at Eastside presently hosts a current NI 43-101 pit-constrained Inferred resource of 1.1 million ounces of gold and 8.7 million ounces of silver* and is open at depth and to the south, east and west. 

Allegiant completed a 31-hole, 7,800 metre RC drill program focusing on two areas outside the OPZ focusing on the East Pediment and Western Anomaly areas.  21 holes were drilled at the East Pediment at an average depth of 203 meters and 11 holes were drilled at the Western Anomaly at an average depth of 223 meters (see Map 2 for additional information). The Company has contracted Boart Longyear to conduct a follow-up RC program consisting of approximately 20 holes for a total of 5000 additional meters.  The rig is expected to arrive on site on, or around, October 20, 2022. 

Geological Comment

 
Andy Wallace, Chief Geologist of Allegiant Gold, commented “Allegiant returned to purely exploration drilling for the 2022 RC drilling campaign at Eastside after several years of drilling on the OPZ. To date, exploration targets at Eastside that had been defined by surface sampling, lithologic and alteration mapping, and geophysics, remained untested. The first two of these targets to be tested in 2022 were the East Pediment and the West Anomaly.

The drilling of 21 exploratory holes on the East Pediment focused on resistivity highs identified by CSAMT geophysical surveys; the OPZ is associated with resistivity highs. Most of the East Pediment resistivity highs were associated with dacite plugs which were unmineralized, however one high was formed by rhyolite identical to the principal host rock at the OPZ. This rhyolite was mineralized; assays returned gold values above 0.1 g/t over 51.5 meters of the 242-meter length of drill hole ES-258. Intercepts include: 86.4 to 93.9 meters averaging 1.3 g/t Au, including 86.4 to 87.9 meters averaging 4.4 g/t Au, along with 197 to 229 meters averaging 0.28 g/t Au.  The mineralization in this hole is open in all directions with the other nearest drill holes being 500 meters to the northeast and southeast; gold mineralization is also open at depth as the bottom of hole ES-258 returned 4.5 meters averaging 0.25 g/t Au. Allegiant considers this hole to be a new gold discovery that has no offset drilling. The volume and grade of gold mineralization is not yet known and requires follow-up exploration drilling.”

Eleven holes were drilled at the West Anomaly; most of the holes encountered anomalous gold within thick zones of >35 meters of alteration associated with anomalous silver. The best intercepts were 34.8 to 45.4 meters averaging 0.93 g/t Au in ES-268 and 76.7 to 83.8 meters averaging of 1.4 g/t Au in ES-264.
 
The East Pediment discovery hole opens up a large area for future exploration and the Company is planning to drill a grid pattern of offset holes in all directions around ES-258 in late October 2022. The Company has also contracted an airborne magnetometer survey over the East Pediment, the OPZ, the West Anomaly area and South Zone targets, which have yet to have any drilling; the survey is scheduled to commence within the next six weeks.
 
Allegiant has also recently staked 194 new federal lode mining claims covering the parts of the pediment interpreted to have shallow overburden. The contiguous Eastside land package now totals 1,252 claims (25,040 acres or approximately 39.1 square miles) stretching from the OPZ south to the Boss/Castle area.


Map 1: Location Map with New Claims
https://allegiantgold.com/site/assets/files/2209/alg_eastsideproject_220920v2.jpg
 
Map 2: Location of RC drill holes incl ES-258
https://allegiantgold.com/site/assets/files/2209/alg_eastside_project_220919.jpg
 

 * The updated resource estimate (“Updated Resource Estimate and NI 43-101 Technical Report, Eastside and Castle Gold-Silver Project Technical Report, Esmeralda County, Nevada”) conducted by Mine Development Associates (“MDA”) of Reno, Nevada, with an effective date of July 30, 2021, contained a pit-constrained Inferred Resources (cut-off grade of 0.15 g/t Au) of  61,730,000 tonnes grading 0.55 g/t Au and  4.4 g/t Ag at the Original Pit Zone (1,090,000 ounces gold and 8,700,000 ounces silver) and  19,986,000 tonnes grading 0.49 g/t Au at the Castle Area (314,000 ounces gold). A copy of the Eastside Technical Report can be found on SEDAR at www.sedar.com. 


QUALIFIED PERSON

Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is the Qualified Person under NI 43-101, Standards of Disclosure for Mineral Projects, who has reviewed and approved the scientific and technical content of this press release. 

ABOUT ALLEGIANT

Allegiant owns 100% of 7 highly-prospective gold projects in the United States, 5 of which are located in the mining-friendly jurisdiction of Nevada. Four of Allegiant’s projects are farmed-out, providing for cost reductions and cash-flow. Allegiant’s flagship, district-scale Eastside project hosts a large and expanding gold resource and is located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.

ON BEHALF OF THE BOARD

Peter Gianulis
CEO

For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364
[email protected]


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.

Certain statements and information contained in this press release constitute “forward-looking statements” within the meaning of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws, which are referred to collectively as “forward-looking statements”. The United States Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. Allegiant Gold Ltd.’s (“Allegiant”) exploration plans for its gold exploration properties, the drill program at Allegiant’s Eastside project, the preparation and publication of an updated resource estimate in respect of the Original Zone at the Eastside project, Allegiant’s future exploration and development plans, including anticipated costs and timing thereof; Allegiant’s plans for growth through exploration activities, acquisitions or otherwise; and expectations regarding future maintenance and capital expenditures, and working capital requirements.  Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.  Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance

Will Europe’s Natural Gas Dilemma Permanently Bring Manufacturing to the U.S.?

Posted on by cpatches
Image Credit: Kateryna Babaieva (Flickr)

Natural Gas Intensive Manufacturing’s Latest Move from Europe to the U.S. is a “No-Brainer”

Is Europe moving manufacturing jobs to the U.S.?

As Russia’s Nord Stream 1 pipeline gas shipments have been curtailed by 89%, and European countries have agreed to sweeping cuts in natural gas consumption, some manufacturing in Europe has had to make difficult decisions. For them to stay in business or to protect profitability, moving to where the supply chain flows more freely may be a choice forced on companies.

The industries most impacted by unpredictable supply and skyrocketing gas prices are those that make steel, fertilizer, chemicals, and other feedstocks. Many of these same industries have been (unintentionally) incentivized to relocate operations to the U.S. by Washington’s growing menu of incentives for manufacturing and green energy. This government support, if their operations comply with certain standards, and the need for stable energy availability has already caused some businesses to cross over to the U.S.

Some economists have suggested that this could bring a new era of deindustrialization to Europe, and industrial jobs to the U.S.

The Decision to Make the Move

This month Ahmed El-Hoshy, chief executive of Amsterdam-based chemical firm OCI NV announced an expansion of an ammonia plant in Texas. “It’s a no-brainer to go and do that in the United States,” El-Hoshy told the Wall Street Journal.

Luxembourg-based ArcelorMittal SA, said this month it would cut production at two German plants, then reported better-than-expected performance by an investment earlier this year in a Texas facility. ArcelorMittal makes hot briquetted iron, a raw material for steel production. In their July earnings call, Chief Executive Aditya Mittal attributed the facility’s value in part to being in a “region that offers highly competitive energy and, ultimately, competitive hydrogen.” The facility that Mr. Mittal moved operations to has plenty of room for growth, Mr. Mittal explained to shareholders they own 100% of expansion rights.

Pandora A/S the Danish Jewelry maker, and Volkswagen AG announced U.S. expansions earlier in 2022. Even U.S. headquartered companies are making changes. Last week, The Wall Street Journal reported Tesla is pausing its plans to make battery cells in Germany as it reviews qualifying for tax credits under a new act  signed by President Biden in August.

“We are increasing our investments [in the U.S.] also in order to stay with all of our partners who are investing,” said Stefan Borgas, chief executive of RHI Magnesita NV. The company, which makes materials used by factories such as steelmakers that must withstand intense heat, is spending $8 million on its European plants so that certain processes run on alternative fuel, such as coal or oil meet European guidelines. Borgas has said that they are also very positive about steel demand in the U.S., where incentives have helped pave the way for green-energy changes. Manufacturers like RHI Magnesita see hydrogen as the key to replacing fossil fuels and reducing emissions in plants.  Promised spending on projects by Washington is expected to boost the production of hydrogen and eventually lower its price.

Many companies remain cautious about changing their strategies because of the cost, difficulty, and time involved in building projects such as smelters for aluminum production. But they are also realistic about the potential for natural gas to never again flow through the Nord Stream pipeline at levels previously experienced. Those that have decided to relocate are likely not moving operations back, it just wouldn’t be practical. This would lead to a permanent increase in North America for manufacturing requiring energy from natural gas and blue hydrogen produced by natural gas.

Take Away

Industries that rely heavily on natural gas or other products derived from natural gas are having a tough time in Europe. Some have moved operations to North America, and many more are considering the move. Helping to make the decision to locate manufacturing operations in the U.S. comes from the recently signed Inflation Reduction Act, which incentivizes building greener processes. These incentives would hep reduce the cost of building a new plant or factory in the U.S.

Paul Hoffman

Managing Editor, Channelchek

Sources:

https://www.wsj.com/articles/high-natural-gas-prices-push-european-manufacturers-to-shift-to-the-u-s-11663707594?mod=hp_lead_pos3

https://www.wsj.com/articles/europe-checks-its-thermostats-as-russia-crimps-natural-gas-supplies-11658827804?mod=series_europeenergyshortage

https://www.pbs.org/newshour/world/europe-is-facing-an-energy-crisis-as-russia-cuts-gas-heres-why#:~:text=DID%20RUSSIA%20CUT%20OFF%20GAS,a%20pillar%20of%20the%20economy.

https://corporate.exxonmobil.com/climate-solutions/hydrogen#:~:text=What%20is%20blue%20hydrogen%3F,that%20produces%20no%20CO2.

Release – Element79 Gold Confirms Debt Settlement and Promissory Note

Posted on by [email protected]

Research, News, and Market Data on ELMGF

Vancouver, BC – TheNewswire – September 19, 2022 – Element79 Gold Corp. ( CSE:ELEM ) ( OTC:ELMGF ) (FSE:7YS) (” Element79 Gold “, the ” Company “) has entered into a debt settlement agreements (the “ Debt Settlement Agreements ”) with certain creditors (the “ Creditors ”) to settle an aggregate indebtedness of $951,166.69 the Creditors accept 1,654,552 Common Shares in the capital of Element79 Gold, subject to a four-month plus one day hold period. The effective date of the Debt Settlement Agreement was initiated on September 15, 2022.

Clarification of Previous Crescita Capital Drawdowns

On August 9, 2022, Element79 Gold entered into a letter agreement (the ” Letter Agreement “) confirming the agreement between Crescita and the Company with respect to the status of certain funds advanced pursuant to an investment and advisory agreement dated September 14, 2020 between the Investor and the Company (the ” Investment and Advisory Agreement “), as amended on May 2, 2022 (” Amendment to Investment and Advisory Agreement “, and together with the Investment and Advisory Agreement, the ” Amended Agreement “). Pursuant to the Amended Agreement, of the funds advanced to the Company during 2021, $2,500,000 have not, to date, resulted in a drawdown of common shares of the Company (” Common Shares “) under the Amended Agreement (the ” Outstanding 2021 Funds “).

The Investor and the Company have agreed that the Outstanding 2021 Funds will be treated as a reduction of the commitment under the Amended Agreement but that no Common Shares will be issued in respect of the Outstanding 2021 Funds and instead such funds shall be deemed to have been loaned to the Company on terms and conditions as set out in the form of the Promissory Note. In addition, to the Outstanding 2021 Funds, Crescita has advanced $950,000 to the Company under the original Investment and Advisory Agreement during 2022, prior to the Amendment to Investment and Advisory Agreement, and Common Shares will be issued in respect of these advanced funds. Since May 2 nd , 2022, Crescita has advanced an additional $720,000 under the Amended Agreement but no issuances of Common Shares have yet been made in respect of such advances. The total remaining commitment from Crescita to Element79 Gold amount under the Amended Agreement is $4,830,000.

Details of the Convertible Promissory Note

On July 18, 2022, the Company entered into a loan agreement (the ” Loan Agreement ” ) with Crescita for the principal sum of $2,500,000 (the ” Principal Amount “) via the sale of the Promissory Note. Element79 Gold shall pay interest on the Principal Amount at the rate of 6% per annum, accruing daily and payable in cash, or in shares at the maximum discounted price permitted by the Canadian Securities Exchange (the “Conversion Price”), on the date that is two years from the issue date of the Promissory Note (the “Maturity Date”). At any time after the issue date of the Promissory Note, but prior to the Maturity Date, the Principal Amount and any accrued and unpaid interest may be converted into shares, calculated at the Conversion Price. If any portion of the Principal Amount or any accrued interest remains outstanding fourteen days after the Maturity Date, then Element79 Gold will be required to convert all outstanding amounts into common shares, the total value of which, at the Conversion Price, shall equal the Principal Amount and all accrued and unpaid interest.

“Crescita has been a long-standing working partner, offering strong support for the Element79 Gold story since its inception, and has made tremendous contributions to the growth of the Company via their capital raising capabilities,” stated Mr. Tworek. “Their dedication has assisted Element79 Gold in confidently moving forward with the objective of achieving cash flow generation and self-sufficiency”.

All $ amounts herein are in Canadian dollars unless otherwise noted.

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 (see news release January 31st, 2022, available on SEDAR). 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. 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 .

For corporate matters, please contact:

James C. Tworek, Chief Executive Officer

Email: [email protected]

For investor relations inquiries, please contact:

Investor Relations Department
Phone: +1 (604) 200-3608
Email: [email protected]

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 terms of the Offering price and the closing and perceived benefits thereof; the use of proceeds from the Offering; the Company’s plans for its portfolio of mining projects and properties; the Company’s business strategy; repayment and pricing thereof of loan proceeds; the effect on the dilution of the Company upon any repayment or future drawdown of the Amended Agreement; future planning processes; exploration activities; the timing and result of exploration activities; capital projects and exploration activities and the possible results thereof; any potential future cash flow and the timing thereof; acquisition opportunities; 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: 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.

Source: Element79 Gold

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.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

Copyright (c) 2022 TheNewswire – All rights reserved.

Cypress Development (CYDVF) – Clayton Valley Takes a Leap Forward

Posted on by cpatches


Tuesday, September 20, 2022

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

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

Proving it can be done. Cypress achieved a major milestone with the production of 99.94% lithium carbonate (Li2CO3) made from lithium-bearing claystone from the company’s Clayton Valley Lithium Project in Nevada. The Li2CO3 was made using intermediate concentrated lithium solution, or ~2,200 parts per million lithium, produced at Cypress’ lithium extraction facility. Following direct lithium extraction (DLE) at the pilot plant, Saltworks Technologies completed the processing system design and pilot work to make the battery grade Li2CO3. Cypress has engaged Saltworks to integrate their designs into Cypress’ pilot plant program.

Suitable for use in electric vehicle batteries. The samples produced surpass minimum industry requirements for standard battery grade, or >99.5% Li2CO3, used in electronics and achieved industry requirements for enhanced battery grade Li2CO3 for use in electric vehicle batteries. Independent analyses of product samples were completed by SGS Canada Inc.


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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 – Cypress Development Confirms Production Of Battery Grade Lithium Carbonate

Posted on by [email protected]

Research, News, and Market Data on CYDVF

September 19, 2022

September 19, 2022 – Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) (Cypress or Company) is pleased to report it has achieved a significant milestone with the production of 99.94% lithium carbonate (Li2CO3) made from lithium-bearing claystone from the Company’s 100%-owned Clayton Valley Lithium Project in Nevada, USA (Project). The Li2CO3 was derived from the intermediate concentrated lithium solution produced at Cypress’ Lithium Extraction Facility in Amargosa Valley, Nevada (Pilot Plant). Following direct lithium extraction (DLE) at the Plant, Saltworks Technologies Inc. (Saltworks) completed the processing system design and pilot work to make the Li2CO3.

“These are excellent results for the initial iteration of testing and will be incorporated into our on-going Feasibility Study on the Project” stated Bill Willoughby, Cypress President, and CEO. “We are pleased to receive comprehensive assays validating the extraction process we have designed for our Project. Exceeding the standard for battery grade lithium carbonate checks-off an important goal for the Company and its further development of the Project.”

Cypress executed pilot operations through to production of ‘three nines’ Li2CO3 that exceeds the standard battery grade specifications below. All processing was completed with material from the Company’s Project in an end-to-end automated pilot plant that represents full scale production. Independent analyses of product samples were completed by SGS Canada Inc., with the results showing greater than 99.9 weight-percent (wt%) purity in a scalable representative process.

CONSTITUENTCONCENTRATIONBATTERY GRADE SPEC – LI2CO3CYPRESS LI2CO3
Li2CO3wt%>99.5%99.94%
H2Owt%<0.5%0.01%
Nawt%<0.05%0.02%
Cawt%<0.04%0.02%
AlWppm<106
CuWppm<5<4
NiWppm<6<5
ZnWppm<5<5
Clwt%<0.01%0.008%

Notes: wt% (weight percent), wppm (weight parts per million)

“Our team is pleased with the outcome at Saltworks, and their support of our Project,” stated Bill Willoughby. “Cypress has engaged Saltworks to integrate their designs into our pilot plant program and look forward to their continued work on the Project.”

The final product surpasses industry requirements for standard battery grade Li2CO3 and has achieved industry requirements for enhanced battery grade Li2CO3 for xEV use. It is common practice for lithium battery manufactures to have specific requirements for Li2CO3 used in their products dependant on application.

Qualified Person
Daniel Kalmbach, CPG, is the qualified person as defined by National Instrument 43-101 and has approved the technical information in this release.

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.

Cautionary Note Regarding Forward-Looking Statements
This release includes certain statements that may be deemed to be “forward-looking statements”. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” “scheduled,” and other similar words. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management 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 or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration, and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

There’s a Reason Gold is So Lackluster

Posted on by cpatches
Image Credit: Diane Aldrich (Flickr)

Despite Inflation, Gold Has Been on a Bumpy Road

Gold is among the first assets that come to mind when investors look to hedge against inflation. The U.S. and other nations are now experiencing the highest levels of inflation in forty years. As consumer prices continue to increase, gold, in all of its investible forms, has been trading down or sideways at best. Will its value pick up and catch up, or has it lost its shine as an inflation hedge?

Up is Down

In any market, the economic inputs impacting prices are many. One overriding factor that has been keeping gold prices at bay is inflation expectations. That’s right; it sounds counter-intuitive, but up is now down, and down is now up in the markets as investors look several steps out to determine their expectations. In this case, the steps follow this path:

Inflation >> Raising Rates >> Slower Economic Growth >> Recession = Low Inflation

Even during the weeks when the Federal Reserve’s monetary policy making board, the FOMC, meets and is universally expected to raise interest rates, longer rates on the treasury curve trade lower, not up. The markets are being very forward-looking and are more concerned with recession than inflation. I suspect this confounds the Fed’s efforts to slow growth and price pressures via rate increases that are being undermined by recession fears.

Gold is not seeing investors increasing their allocation of bullion, gold certificates, ETFs, gold mining companies, or any other assets linked to the price of gold, in large part because markets view the Fed as on a path to wipe out the economy and inflation. This was apparent last week as so-called meme stock AMC Theaters (AMC) shared a positive event related to their gold holdings, the stock traded down.

Dollar Strength

Outside of the U.S., expectations for a deep or deeper recession are growing. This week the German central bank (Bundesbank) said “There are mounting signs of a recession in the German economy in the sense of a clear broad-based and prolonged decline in economic output. This drives investment in the stronger U.S. economy.

In addition to viewing inflation as a reason for rates to be brought down,  global unrest and the U.S. central bank being perceived as tightening the most aggressively among trading partners has brought consistent strength to the U.S. dollar. When the performance of dollars and gold are viewed side by side, it hasn’t made sense to exchange the U.S. currency for gold. So in effect, gold which is often viewed as a currency is not competing well with greenbacks.

Take Away

Inflation has been rising. And not just in supply chain-related industries, in services as well. The Federal Reserve’s resolve to bring it down by increasing rates in the U.S. is attracting capital from overseas which has been keeping the dollar strong and as a perceived better alternatve to gold.

While gold prices are historically a beneficiary of higher inflation growth, the expectation that the Fed may quickly overshoot and cause a recession which could halt the run-away prices is winning the price tug-of-war with gold buyer enthusiasm.

Paul Hoffman Managing Editor, Channelchek

Sources

https://www.forbes.com/advisor/investing/gold-inflation-hedge/#:~:text=Over%20shorter%20periods%2C%20researchers%20found,constant%20relative%20to%20the%20CPI.

https://www.wsj.com/articles/this-should-have-been-a-great-year-for-gold-heres-why-it-isnt-11663526294?mod=hp_lead_pos3

https://www.politico.eu/article/bundesbank-germany-recession-inflation/

https://www.channelchek.com/news-channel/eureka-amcs-large-stake-in-gold-mining-company-may-pay-off

Comstock Inc. (LODE) – Fostering Innovation with Collaboration

Posted on by cpatches


Friday, September 16, 2022

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 application. Comstock filed a grant application with the U.S. Department of Energy (DOE) to build a pre-pilot scale system to demonstrate one of its methods to produce renewable diesel, sustainable aviation fuel, gasoline, and marine fuel from woody biomass utilizing Comstock’s technology and processes leading to greater yield, efficiency, and cost relative to other methods.

An impressive roster of grant participants. Comstock’s grant application is supported by an impressive roster of collaborators, including Marathon Petroleum Company LP, Topsoe Inc., Novozymes, 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 College of Environmental Science and Forestry.


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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 – Comstock Files Grant Application for Cellulosic Fuels

Posted on by [email protected]

Research, News, and Market Data on LODE

September 15, 2022 16:05 ET |

VIRGINIA CITY, Nev., Sept. 15, 2022 (GLOBE NEWSWIRE) — Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced its filing of a grant application with the U.S. Department of Energy (“DOE”) 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 at dramatically improved yield, efficiency and cost in comparison to known methods.

Comstock has developed a breakthrough process that efficiently deconstructs woody biomass and residuals into uniquely isolated biointermediates that are free of the contaminants that have frustrated prior attempts at broadly commercializing cellulosic fuels. Comstock’s biointermediates include Cellulosic Sugar produced from a purified form of cellulose that has been stripped of bioconversion inhibitors, and a unique mixture of hydrocarbons that Comstock calls Bioleum.

Cellulosic Sugar can be used as a fermentation feedstock to produce ethanol, lipids, and many other products. Bioleum is a form of biocrude with about 75% of the energy content of fossil crude. While Comstock’s biointermediates can be used in multiple renewable fuel pathways, Comstock’s grant application is based on fermenting Cellulosic Sugar into lipids, reacting the lipids with Bioleum to produce a single homogenous feedstock, and converting that homogeneous feedstock into drop-in renewable fuels, at yields exceeding 80 gallons per dry ton of feedstock (on a gasoline gallon equivalent basis).

Comstock’s grant application is supported by a team of collaborators, including Topsoe Inc., Marathon Petroleum Company LP, Novozymes, 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 College of Environmental Science and Forestry.

“We are grateful for the opportunity to collaborate with such an exceptional team of industry leaders,” said Corrado De Gasperis, Comstock’s executive chairman and chief executive officer. “The combined team enables an extremely valuable ecosystem for advancing a highly scalable and rapidly replenishable new feedstock source for renewable fuels. This ecosystem is capable of making material contributions to neutralizing U.S. mobility emissions and delivering net-zero emissions by 2050.”

About Comstock Inc.
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 complementary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.

Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future industry market conditions; future explorations or acquisitions; future changes in our exploration activities; future prices and sales of, and demand for, our products; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, taxes, earnings and growth. These statements are based on assumptions and assessments made by our management considering their experience and their perception of historical and current trends, current conditions, possible future developments, and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, mercury remediation and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mercury remediation, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with mercury remediation, metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; ability to achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology, mercury remediation technology and efficacy, quantum computing and advanced materials development, and development of cellulosic technology in bio-fuels and related carbon-based material production; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.

Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.

Contact information:  
   
Comstock Inc.
P.O. Box 1118
Virginia City, NV 89440
www.comstockinc.com		Corrado De Gasperis
Executive Chairman & CEO
Tel (775) 847-4755
[email protected]		Zach Spencer
Director of External Relations
Tel (775) 847-5272 Ext.151
[email protected]