Friday, January 07, 2022

Allegiant Gold (AUXXF)(AUAU:CA)
Moving Forward at Eastside

Allegiant Gold is a mid-stage exploration stage company with 10 highly prospective projects in the southwest United States, including 7 projects in the State of Nevada. Allegiant’s flagship project is Eastside, a district-scale project in Nevada with inferred resources of 1.4 million gold and 8.8 million silver ounces of inferred resources and significant potential to add size and scale. The company’s shares trade on the TSX Venture Exchange under the ticker symbol “AUAU” and on the OTCQX under the ticker symbol “AUXXF.”

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

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

Drilling expected to commence shortly. Reverse circulation (RC) drilling is expected to commence within two to three weeks and focus on the east pediment zone and the western high-grade anomaly and entail 30 holes to about 200 meters depth using one rig. Core drilling that is planned to define high-grade areas discovered during the most recent drill program could be delayed until May due to an eagle’s nest near the area of planned drilling. Allegiant has filed for an eagle take permit that would allow for the relocation of the eagles and nest that is near the high-grade zone. Otherwise, drilling would have to follow the eagle nesting cycle.


More to Eastside than gold? While Eastside is a gold exploration project, Nevada is well-known for hosting lithium in its hydrographic basins.  Given that the Eastside property is prospective for lithium, particularly the Castle zone, management intends to fund studies to assess its potential. Were this to develop, opportunities could exist to eventually sell or spin-off lithium-rich areas of the …

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. 

FenixOro Provides Letter to Investors Outlining Plans for 2022

Research, News, and Market Data on FenixOro Gold

 

TORONTO, Jan. 06, 2022 (GLOBE NEWSWIRE) — FenixOro Gold Corp. (CSE: FENX; OTCQB: FDVXF; Frankfurt: 8FD) is pleased to provide an update to shareholders and investors as the Company kicks off its plans for 2022.

As we set out on a new year we wanted to share with you our objectives for what we believe will be an exciting time as we accelerate the exploration program at the Abriaqui gold project.

Our plans for 2022 are being driven by the tremendous success we had last year. The achievements were many. To provide some context for the upcoming program, here are some of the key developments we announced last year (www.fenixoro.com/news-events/press-releases/)

2021 Highlights

• The significant discovery of a new zone with multiple high grade intercepts including 124 g/t gold (February 24/21)
• Extending strike length of 1400m on the main Santa Teresa vein (March 15/21)
• Completion of Phase 1 drilling and the establishment of a preliminary minimum target resource model of 1.6 – 2.4 million oz (March 19/21)
• Demonstrating the significant vertical continuity of high grade mineralization, a minimum of 1200 meters (March 19/21)
• The commencement of Phase 2 drilling (April 26/21)
• Significant soil anomalies generated large target areas in the undrilled Southern block (May 10/21)
• True-width channel sample intercept of 11.4m of 6.08 g/t gold on the main Santa Teresa vein system (August 5/21)
• Noble Capital Markets initiated research coverage (September 13/21)
• Intercepted 23.2 g/t gold in the newly discovered Cascada vein (September 28/21)
• Closing on a first tranche private placement financing of $2.4 million (December 8/21)
• Cormark Securities issued a report following a site visit by Mining Analyst Brock Colterjohn (December 9/21)

One of the main challenges we faced in 2021 was the turnaround time it took to receive assay results from the lab – at times this ran ten to twelve weeks due to global supply issues. We have addressed this and are now using a new lab that is providing results on a fourteen day turnaround. This should provide us with a much more consistent data and news flow. We are currently in the midst of a major data compilation exercise that we expect will generate new interpretations as well as high-interest target areas.

Looking Forward
With the foundation of the success we experienced in 2021 we are extremely optimistic on the outlook for 2022. It is still very early in the exploration cycle of the project and yet we are already demonstrating that Abriaqui has the potential to be a significant and very special asset.

The three key objectives of this year’s program are focused on the growth of the deposit:

• To grow the existing resource model by increasing the length, depth and scale of the four currently modelled structures
• To grow the existing resource model by increasing the number of formally modelled veins to at least ten
• To demonstrate that the project has potential for significant new discoveries, particularly in the as yet undrilled Southern block.

With these objectives in mind we hope you will join us on this journey and follow along with our progress. We will have many developments to report on in the coming days and weeks. We are very grateful for your continued trust and support and we wish you good health and much personal success in 2022.

John Carlesso, CEO
FenixOro Gold Corp

About FenixOro Gold Corp.
FenixOro Gold Corp is a Canadian company focused on acquiring and exploring gold projects with world class exploration potential in the most prolific gold producing regions of Colombia. FenixOro’s flagship property, the Abriaqui project, is the closest project to Continental Gold’s Buritica project. It is located 15 km to the west in Antioquia State at the northern end of the Mid-Cauca gold belt, a geological trend which has seen multiple large gold discoveries in the past 10 years including Buritica and Anglo Gold’s Nuevo Chaquiro and La Colosa. As documented in “NI 43-101 Technical Report on the Abriaqui project Antioquia State, Colombia” (December 5, 2019), the geological characteristics of Abriaqui and Buritica are similar. Since the preparation of this report a Phase 1 drilling program has been completed at Abriaqui resulting in a significant discovery of a high grade, “Buritica style” gold deposit. A Phase 2 drilling program has recently commenced.

FenixOro’s VP of Exploration, Stuart Moller, led the discovery team at Buritica for Continental Gold in 2007-2011. At the time of its latest public report, the Buritica Mine contains measured plus indicated resources of 5.32 million ounces of gold (16.02 Mt grading 10.32 g/t) plus a 6.02 million ounce inferred resource (21.87 Mt grading 8.56 g/t) for a total of 11.34 million ounces of gold resources Buritica began formal production in November 2020 and has expected annual average production of 250,000 ounces at an all-in sustaining cost of approximately US$600 per ounce. Resources, cost and production data are taken from Continental Gold’s “NI 43-101 Buritica Mineral Resource 2019-01, Antioquia, Colombia, 18 March, 2019”). Continental Gold was recently the subject of a takeover by Zijin Mining in an all-cash transaction valued at C$1.4 billion.

Cautionary Statement on Forward-Looking Information
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of FenixOro’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “will”, “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein include, but are not limited to information concerning the closing of the Private Placement, and Abriaqui. Although FenixOro believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. In particular, there is no guarantee that Abriaqui will produce viable quantities of minerals, that the Company will pursue Abriaqui or that any mineral deposits will be found, or that the Private Placement will close. The forward-looking information and forward-looking statements contained in this news release are made as of the date of this press release, and FenixOro does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release.

FenixOro Gold Corp
John Carlesso, CEO
Email: info@FenixOro.com
Website: www.FenixOro.com
Telephone: 1-833-ORO-GOLD

FenixOro Provides Letter to Investors Outlining Plans for 2022

Research, News, and Market Data on FenixOro Gold

 

TORONTO, Jan. 06, 2022 (GLOBE NEWSWIRE) — FenixOro Gold Corp. (CSE: FENX; OTCQB: FDVXF; Frankfurt: 8FD) is pleased to provide an update to shareholders and investors as the Company kicks off its plans for 2022.

As we set out on a new year we wanted to share with you our objectives for what we believe will be an exciting time as we accelerate the exploration program at the Abriaqui gold project.

Our plans for 2022 are being driven by the tremendous success we had last year. The achievements were many. To provide some context for the upcoming program, here are some of the key developments we announced last year (www.fenixoro.com/news-events/press-releases/)

2021 Highlights

• The significant discovery of a new zone with multiple high grade intercepts including 124 g/t gold (February 24/21)
• Extending strike length of 1400m on the main Santa Teresa vein (March 15/21)
• Completion of Phase 1 drilling and the establishment of a preliminary minimum target resource model of 1.6 – 2.4 million oz (March 19/21)
• Demonstrating the significant vertical continuity of high grade mineralization, a minimum of 1200 meters (March 19/21)
• The commencement of Phase 2 drilling (April 26/21)
• Significant soil anomalies generated large target areas in the undrilled Southern block (May 10/21)
• True-width channel sample intercept of 11.4m of 6.08 g/t gold on the main Santa Teresa vein system (August 5/21)
• Noble Capital Markets initiated research coverage (September 13/21)
• Intercepted 23.2 g/t gold in the newly discovered Cascada vein (September 28/21)
• Closing on a first tranche private placement financing of $2.4 million (December 8/21)
• Cormark Securities issued a report following a site visit by Mining Analyst Brock Colterjohn (December 9/21)

One of the main challenges we faced in 2021 was the turnaround time it took to receive assay results from the lab – at times this ran ten to twelve weeks due to global supply issues. We have addressed this and are now using a new lab that is providing results on a fourteen day turnaround. This should provide us with a much more consistent data and news flow. We are currently in the midst of a major data compilation exercise that we expect will generate new interpretations as well as high-interest target areas.

Looking Forward
With the foundation of the success we experienced in 2021 we are extremely optimistic on the outlook for 2022. It is still very early in the exploration cycle of the project and yet we are already demonstrating that Abriaqui has the potential to be a significant and very special asset.

The three key objectives of this year’s program are focused on the growth of the deposit:

• To grow the existing resource model by increasing the length, depth and scale of the four currently modelled structures
• To grow the existing resource model by increasing the number of formally modelled veins to at least ten
• To demonstrate that the project has potential for significant new discoveries, particularly in the as yet undrilled Southern block.

With these objectives in mind we hope you will join us on this journey and follow along with our progress. We will have many developments to report on in the coming days and weeks. We are very grateful for your continued trust and support and we wish you good health and much personal success in 2022.

John Carlesso, CEO
FenixOro Gold Corp

About FenixOro Gold Corp.
FenixOro Gold Corp is a Canadian company focused on acquiring and exploring gold projects with world class exploration potential in the most prolific gold producing regions of Colombia. FenixOro’s flagship property, the Abriaqui project, is the closest project to Continental Gold’s Buritica project. It is located 15 km to the west in Antioquia State at the northern end of the Mid-Cauca gold belt, a geological trend which has seen multiple large gold discoveries in the past 10 years including Buritica and Anglo Gold’s Nuevo Chaquiro and La Colosa. As documented in “NI 43-101 Technical Report on the Abriaqui project Antioquia State, Colombia” (December 5, 2019), the geological characteristics of Abriaqui and Buritica are similar. Since the preparation of this report a Phase 1 drilling program has been completed at Abriaqui resulting in a significant discovery of a high grade, “Buritica style” gold deposit. A Phase 2 drilling program has recently commenced.

FenixOro’s VP of Exploration, Stuart Moller, led the discovery team at Buritica for Continental Gold in 2007-2011. At the time of its latest public report, the Buritica Mine contains measured plus indicated resources of 5.32 million ounces of gold (16.02 Mt grading 10.32 g/t) plus a 6.02 million ounce inferred resource (21.87 Mt grading 8.56 g/t) for a total of 11.34 million ounces of gold resources Buritica began formal production in November 2020 and has expected annual average production of 250,000 ounces at an all-in sustaining cost of approximately US$600 per ounce. Resources, cost and production data are taken from Continental Gold’s “NI 43-101 Buritica Mineral Resource 2019-01, Antioquia, Colombia, 18 March, 2019”). Continental Gold was recently the subject of a takeover by Zijin Mining in an all-cash transaction valued at C$1.4 billion.

Cautionary Statement on Forward-Looking Information
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of FenixOro’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “will”, “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein include, but are not limited to information concerning the closing of the Private Placement, and Abriaqui. Although FenixOro believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. In particular, there is no guarantee that Abriaqui will produce viable quantities of minerals, that the Company will pursue Abriaqui or that any mineral deposits will be found, or that the Private Placement will close. The forward-looking information and forward-looking statements contained in this news release are made as of the date of this press release, and FenixOro does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release.

FenixOro Gold Corp
John Carlesso, CEO
Email: info@FenixOro.com
Website: www.FenixOro.com
Telephone: 1-833-ORO-GOLD

Thursday, January 06, 2022

Comstock Mining (LODE)
Off to a Solid Start in 2022

Comstock Mining Inc. is an emerging innovator and leader in the sustainable extraction, valorization, and production of scarce natural resources, with a focus on high value strategic materials that are essential to meeting the rapidly increasing global demand for clean energy, carbon-neutrality, and natural products.

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

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

Majority ownership of LiNiCo. Comstock Mining acquired an additional 3,129,081 common shares in LiNiCo Corporation from its founder and former CEO in exchange for 3,500,000 restricted Comstock common shares. Additionally, Comstock acquired an additional 4,075 preferred shares increasing its ownership to 90% from 45%. The remaining 10% of LiNiCo is owned by Aqua Metals Inc. We expect LiNiCo financial results to be consolidated into Comstock’s year-end financial statements.


Potential corporate rebranding.  Prior to the end of the first quarter, we think Comstock Mining may re-brand to better align with its emerging core businesses, Battery Metal Recycling and Cellulosic Fuels, and to reflect its transformation into a renewable energy company seeking to promote decarbonization within the transportation sector. Moreover, we think management may provide more detailed …

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. 

Wednesday, January 05, 2022

Chakana Copper Corp (CHKKF)(PERU:CA)
Outstanding Huancarama Drill Results; Initial Resource Estimate Expected Shortly

Noble Capital Markets research on Chakana Copper Corp is published under ticker symbols CHKKF and PERU:CA. The price target is in USD and based on ticker symbol CHKKF. Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the high-grade gold-copper-silver Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project consists of high-grade gold-copper-silver mineralization hosted in tourmaline breccia pipes. A total of 33,353 metres of drilling has been completed to-date, testing nine (9) of twenty-three (23) confirmed breccia pipes with more than 92 total targets. Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to several metals including copper, gold, and silver.

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

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

Huancarama drilling results. Chakana Copper released results from 13 additional resource definition and exploration holes, representing 3,265 meters of drilling, at Huancarama which is one of several breccia pipes that will be included in Chakana’s initial resource estimate. In addition to significant copper, gold, and silver grades intercepted in all resource definition drill holes, three intersected molybdenum at depths of around 350 meters below surface. Results included several high-grade intervals of greater than 50 meters, including Hole SDH21-271 which intercepted 3.46% copper, 118.8 grams of silver per tonne, and 0.63 grams of gold per tonne over 50.7 meters, or 4.89% copper equivalent.


Initial resource estimate.  Chakana expects to release an initial mineral resource estimate shortly which will include breccias Bx 1, Bx 5, Bx 6, Paloma East, Paloma West, Huancarama, and possibly Bx 7, down to a depth of 300 meters. We think achieving this milestone could be a significant catalyst for the stock and help investors gauge the mineral resource potential of the broader Soledad project …

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. 

Endeavour Silver Announces Appointment of New Director

Research, News, and Market Data on Endeavour Silver

 

VANCOUVER, British Columbia, Jan. 04, 2022 (GLOBE NEWSWIRE) — Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) is pleased to announce the appointment of Amy E. Jacobsen, QP, P.E., MBA to the Company’s board of directors effective January 3, 2022.

“We are delighted to welcome Amy to our board. She is well recognized for her contribution to the mining industry and brings extensive expertise as well as a depth of mining experience that will serve Endeavour Silver well as we pursue our vision of being a premier senior silver producer,” stated Dan Dickson, Chief Executive Officer.

Ms. Jacobsen has over 30 years of diverse global experience and was recognized among the 100 Global Inspirational Women in Mining 2020. Her experience includes industrial minerals and fertilizers, base metals including copper, cobalt, zinc, and nickel, precious metals, and energy fuels such as coal, lignite and uranium.

Ms. Jacobsen started her career at Homestake and Hazen Research before moving to Stone and Webster Management Consultants. Most recently, she spent 14 years in various management positions at Behre Dolbear Group, including 3 years as chair of the board of directors from 2016 to 2019. Ms. Jacobsen is currently the President of Windward Consulting as well as Adjunct Professor in the Professional Masters – Mining Engineering and Management degree program at the Colorado School of Mines.

Ms. Jacobsen graduated from the Colorado School of Mines with a B.S. in metallurgical engineering as well as a Master of Business Administration from the Executive MBA program at the University of Denver. She is a Qualified Professional in metallurgy through the Mining and Metallurgical Society of America, a registered Professional Engineer in the state of Colorado and an Associate Member of the International Institute of Mineral Appraisers. Ms. Jacobsen is the past president of the Mining and Metallurgical Society of America and past director of the Society for Mining, Metallurgy and Exploration.

About Endeavour Silver
Endeavour Silver is a mid-tier precious metals mining company that operates two high-grade, underground silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision, pending financing and final permits and exploring its portfolio of exploration and development projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer.  The Company’s philosophy of corporate social integrity creates value for all stakeholders.

SOURCE Endeavour Silver Corp.

Contact Information
Trish Moran
Interim Head of Investor Relations
Tel: (416) 564-4290
Email: pmoran@edrsilver.com
Website: www.edrsilver.com

Follow Endeavour Silver on Facebook , Twitter , Instagram and LinkedIn

Garibaldi Appoints New Director

Research, News, and Market Data on Garibaldi Resources

 

Vancouver, British Columbia, January 5, 2022 – Garibaldi Resources (TSXV: GGI) (the “Company” or “Garibaldi”) is pleased to announce the appointment of Michael Robert (Rob) Myhill to Garibaldi’s Board of Directors. Mr. Myhill is currently a Director and V.P. Finance of Eskay Mining Corp. (“Eskay Mining”). Eskay Mining’s neighboring claims border Garibaldi’s highly prospective Eskay Claim Group in Northwest British Columbia. Eskay Mining acquired a 19.5% investment interest in Garibaldi on February 5, 2021 (see Eskay news release March 8, 2021) after developing an important new structural interpretation of the Eskay regional model, followed by precious metal VMS discoveries at their TV and Jeff VMS targets.

Mr. Myhill holds an HBA and an MBA from the Ivey School of Business Administration at the University of Western Ontario and earned a CA designation while with Price Waterhouse in Toronto. For 20 years, Mr. Myhill was the President and CEO of Canadian Investors Corp. (C.I.C.). Prior to C.I.C he was the President of a national company within the Jim Pattison Industries Group.

Steve Regoci, Garibaldi President and CEO, commented “Garibaldi Resources Corp. and Eskay Mining Corp. successfully co-operated on logistics for Eskay’s SkyTEM survey in 2021.  Savings from collaborative cost sharing initiatives are an advantage to both exploration programs and expanding mutually beneficial efforts will impact productivity with more efficient results. Garibaldi welcomes Robert Myhill onboard and looks forward to working with him on improving overall synergy within the prolific Eskay District.”

Mr. Myhill commented, “I appreciate the opportunity to represent Eskay Mining’s investment in Garibaldi.  I am confident we can make an important contribution to Garibaldi, leading to greater shareholder value.”

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.

Comstock Acquires Majority Ownership of LiNiCo

Research, News, and Market Data on Comstock Mining

 

Pioneering Technologies for Production of Lithium Carbonate, Graphite, and Other Electrification Products

 

VIRGINIA CITY, Nev., Jan. 05, 2022 (GLOBE NEWSWIRE) — Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced its acquisition of an additional 3,129,081 common shares in LINICO Corporation (“LiNiCo”) from LiNiCo’s founder, Michael Vogel, in exchange for 3,500,000 restricted Comstock common shares, and acquired an additional 4,075 Series A Preferred shares, thereby increasing Comstock’s overall ownership to approximately 90% from approximately 45% of LiNiCo.

LiNiCo is an emerging leader in the production of electrification products, including lithium carbonate and graphite from recycled lithium-ion batteries (“LIB”) with its proprietary extraction technologies. LiNiCo’s first state-of-the-art production facility is currently being retrofitted and scheduled to commence initial production with a feedstock crushing capacity of over 35,000 tons per year during the second half 2022, with the ultimate facility capacity designed and permitted for over 100,000 tons per year.  

“Increasing our investment in LiNiCo was a natural extension of our plan to build high-cash generating processes that tap into massive markets and decarbonize the supply chains of increasingly scarce natural resources,” said Corrado De Gasperis, Comstock’s Executive Chairman and Chief Executive Officer. “We believe that LiNiCo’s pioneering extraction technologies will quickly prove to be the best, most sustainable, and most valuable process for the production of lithium and other electrification products from both recycled batteries and virgin natural resources. Increasing our stake to approximately 90% will allow us to fully consolidate and control LiNiCo’s business plans, revenue and earnings, while enabling our shareholders to participate in the expected significant positive impact of LiNiCo’s business and related proprietary technologies on Comstock’s valuation.”

According to International Energy Agency (“IEA”), there were more than 10 million electric vehicles (“EVs”) on the road at the end of 2020, with new EV registrations increasing by 41% over 2019 and another 140% during the first quarter of 2021 as compared to the same period in 2020. Meeting the increased EV demand is estimated to require about five times more lithium carbonate equivalent (“LCE”) than the entire lithium mining industry produces today. Miners and manufacturers can scale up to meet that demand, however, according to a January 2021 USGS mineral commodity summary, there are only about 86 million tons of identified lithium reserves worldwide, and EV batteries are typically landfilled after eight to ten years of use. A report published in 2021 by Lux Research estimated that more than 140 gigawatt-hours of LIBs will reach end of life by 2035, an eightfold increase over the end-of-life estimates for 2020, making quality LIB recycling vital to global electrification initiatives.

The remaining 10% of LiNiCo is owned by Aqua Metals Inc. (NASDAQ: AQMS), a cleantech innovator focused on environmentally closed-loop battery recycling. Comstock and Aqua Metals announced the execution of a collaboration agreement to accelerate decarbonization by producing renewable electrification products that support the increasingly high demand for EVs. LiNiCo would use this technology to process secondary metal concentrates into high-purity nickel, cobalt, and other metals.

“LiNiCo’s partnerships and propriety technologies differentiate us from our peers by enabling the up-front extraction of lithium and the direct refining of nickel, cobalt, and other metals. We are looking forward to incorporating these new processes into our facility and offering best-in-class, sustainable electrification products at a fraction of the costs,” concluded Mr. De Gasperis.

About Comstock Mining Inc.
Comstock Mining Inc. (NYSE: LODE) (the “Company”) is an emerging innovator and leader in the sustainable extraction, valorization, and production of scarce natural resources, with a focus on high value strategic materials that are essential to meeting the rapidly increasing global demand for clean renewable energy, carbon-neutrality, and natural products. To learn more, please visit www.comstockmining.com.

Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: consummation of all pending transactions; project, asset or Company valuations; future industry market conditions; future explorations, acquisitions, investments and asset sales; future performance of and closings under various agreements; future changes in our exploration activities; future estimated mineral resources; future prices and sales of, and demand for, our products; future operating margins; available resources; environmental conservation outcomes; future impacts of land entitlements and uses; future permitting activities and needs therefor; future production capacity and operations; future operating and overhead costs; future capital expenditures and their impact on us; future impacts of operational and management changes (including changes in the board of directors); future changes in business strategies, planning and tactics and impacts of recent or future changes; future employment and contributions of personnel, including consultants; future land sales, investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives; the nature and timing of and accounting for restructuring charges and derivative liabilities and the impact thereof; contingencies; future environmental compliance and changes in the regulatory environment; future offerings of equity or debt securities; asset sales and associated costs; future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, earnings and growth. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: counterparty risks; capital markets’ valuation and pricing risks; adverse effects of climate changes or natural disasters; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mining activities; contests over title to properties; potential dilution to our stockholders from our stock issuances and recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting businesses; permitting constraints or delays; decisions regarding business opportunities that may be presented to, or pursued by, us or others; the impact of, or the non-performance by parties under agreements relating to, acquisitions, joint ventures, strategic alliances, business combinations, asset sales, leases, options and investments to which we may be party; changes in the United States or other monetary or fiscal policies or regulations; interruptions in production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, cyanide, water, diesel fuel and electricity); changes in generally accepted accounting principles; adverse effects of terrorism and geopolitical events; potential inability to implement business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors or others; assertion of claims, lawsuits and proceedings; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the SEC; potential inability to list our securities on any securities exchange or market; inability to maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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

Comstock Acquires Majority Ownership of LiNiCo

Research, News, and Market Data on Comstock Mining

 

Pioneering Technologies for Production of Lithium Carbonate, Graphite, and Other Electrification Products

 

VIRGINIA CITY, Nev., Jan. 05, 2022 (GLOBE NEWSWIRE) — Comstock Mining Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced its acquisition of an additional 3,129,081 common shares in LINICO Corporation (“LiNiCo”) from LiNiCo’s founder, Michael Vogel, in exchange for 3,500,000 restricted Comstock common shares, and acquired an additional 4,075 Series A Preferred shares, thereby increasing Comstock’s overall ownership to approximately 90% from approximately 45% of LiNiCo.

LiNiCo is an emerging leader in the production of electrification products, including lithium carbonate and graphite from recycled lithium-ion batteries (“LIB”) with its proprietary extraction technologies. LiNiCo’s first state-of-the-art production facility is currently being retrofitted and scheduled to commence initial production with a feedstock crushing capacity of over 35,000 tons per year during the second half 2022, with the ultimate facility capacity designed and permitted for over 100,000 tons per year.  

“Increasing our investment in LiNiCo was a natural extension of our plan to build high-cash generating processes that tap into massive markets and decarbonize the supply chains of increasingly scarce natural resources,” said Corrado De Gasperis, Comstock’s Executive Chairman and Chief Executive Officer. “We believe that LiNiCo’s pioneering extraction technologies will quickly prove to be the best, most sustainable, and most valuable process for the production of lithium and other electrification products from both recycled batteries and virgin natural resources. Increasing our stake to approximately 90% will allow us to fully consolidate and control LiNiCo’s business plans, revenue and earnings, while enabling our shareholders to participate in the expected significant positive impact of LiNiCo’s business and related proprietary technologies on Comstock’s valuation.”

According to International Energy Agency (“IEA”), there were more than 10 million electric vehicles (“EVs”) on the road at the end of 2020, with new EV registrations increasing by 41% over 2019 and another 140% during the first quarter of 2021 as compared to the same period in 2020. Meeting the increased EV demand is estimated to require about five times more lithium carbonate equivalent (“LCE”) than the entire lithium mining industry produces today. Miners and manufacturers can scale up to meet that demand, however, according to a January 2021 USGS mineral commodity summary, there are only about 86 million tons of identified lithium reserves worldwide, and EV batteries are typically landfilled after eight to ten years of use. A report published in 2021 by Lux Research estimated that more than 140 gigawatt-hours of LIBs will reach end of life by 2035, an eightfold increase over the end-of-life estimates for 2020, making quality LIB recycling vital to global electrification initiatives.

The remaining 10% of LiNiCo is owned by Aqua Metals Inc. (NASDAQ: AQMS), a cleantech innovator focused on environmentally closed-loop battery recycling. Comstock and Aqua Metals announced the execution of a collaboration agreement to accelerate decarbonization by producing renewable electrification products that support the increasingly high demand for EVs. LiNiCo would use this technology to process secondary metal concentrates into high-purity nickel, cobalt, and other metals.

“LiNiCo’s partnerships and propriety technologies differentiate us from our peers by enabling the up-front extraction of lithium and the direct refining of nickel, cobalt, and other metals. We are looking forward to incorporating these new processes into our facility and offering best-in-class, sustainable electrification products at a fraction of the costs,” concluded Mr. De Gasperis.

About Comstock Mining Inc.
Comstock Mining Inc. (NYSE: LODE) (the “Company”) is an emerging innovator and leader in the sustainable extraction, valorization, and production of scarce natural resources, with a focus on high value strategic materials that are essential to meeting the rapidly increasing global demand for clean renewable energy, carbon-neutrality, and natural products. To learn more, please visit www.comstockmining.com.

Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: consummation of all pending transactions; project, asset or Company valuations; future industry market conditions; future explorations, acquisitions, investments and asset sales; future performance of and closings under various agreements; future changes in our exploration activities; future estimated mineral resources; future prices and sales of, and demand for, our products; future operating margins; available resources; environmental conservation outcomes; future impacts of land entitlements and uses; future permitting activities and needs therefor; future production capacity and operations; future operating and overhead costs; future capital expenditures and their impact on us; future impacts of operational and management changes (including changes in the board of directors); future changes in business strategies, planning and tactics and impacts of recent or future changes; future employment and contributions of personnel, including consultants; future land sales, investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives; the nature and timing of and accounting for restructuring charges and derivative liabilities and the impact thereof; contingencies; future environmental compliance and changes in the regulatory environment; future offerings of equity or debt securities; asset sales and associated costs; future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, earnings and growth. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: counterparty risks; capital markets’ valuation and pricing risks; adverse effects of climate changes or natural disasters; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mining activities; contests over title to properties; potential dilution to our stockholders from our stock issuances and recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting businesses; permitting constraints or delays; decisions regarding business opportunities that may be presented to, or pursued by, us or others; the impact of, or the non-performance by parties under agreements relating to, acquisitions, joint ventures, strategic alliances, business combinations, asset sales, leases, options and investments to which we may be party; changes in the United States or other monetary or fiscal policies or regulations; interruptions in production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, cyanide, water, diesel fuel and electricity); changes in generally accepted accounting principles; adverse effects of terrorism and geopolitical events; potential inability to implement business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors or others; assertion of claims, lawsuits and proceedings; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the SEC; potential inability to list our securities on any securities exchange or market; inability to maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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

Garibaldi Appoints New Director

Research, News, and Market Data on Garibaldi Resources

 

Vancouver, British Columbia, January 5, 2022 – Garibaldi Resources (TSXV: GGI) (the “Company” or “Garibaldi”) is pleased to announce the appointment of Michael Robert (Rob) Myhill to Garibaldi’s Board of Directors. Mr. Myhill is currently a Director and V.P. Finance of Eskay Mining Corp. (“Eskay Mining”). Eskay Mining’s neighboring claims border Garibaldi’s highly prospective Eskay Claim Group in Northwest British Columbia. Eskay Mining acquired a 19.5% investment interest in Garibaldi on February 5, 2021 (see Eskay news release March 8, 2021) after developing an important new structural interpretation of the Eskay regional model, followed by precious metal VMS discoveries at their TV and Jeff VMS targets.

Mr. Myhill holds an HBA and an MBA from the Ivey School of Business Administration at the University of Western Ontario and earned a CA designation while with Price Waterhouse in Toronto. For 20 years, Mr. Myhill was the President and CEO of Canadian Investors Corp. (C.I.C.). Prior to C.I.C he was the President of a national company within the Jim Pattison Industries Group.

Steve Regoci, Garibaldi President and CEO, commented “Garibaldi Resources Corp. and Eskay Mining Corp. successfully co-operated on logistics for Eskay’s SkyTEM survey in 2021.  Savings from collaborative cost sharing initiatives are an advantage to both exploration programs and expanding mutually beneficial efforts will impact productivity with more efficient results. Garibaldi welcomes Robert Myhill onboard and looks forward to working with him on improving overall synergy within the prolific Eskay District.”

Mr. Myhill commented, “I appreciate the opportunity to represent Eskay Mining’s investment in Garibaldi.  I am confident we can make an important contribution to Garibaldi, leading to greater shareholder value.”

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.

Endeavour Silver Announces Appointment of New Director

Research, News, and Market Data on Endeavour Silver

 

VANCOUVER, British Columbia, Jan. 04, 2022 (GLOBE NEWSWIRE) — Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) is pleased to announce the appointment of Amy E. Jacobsen, QP, P.E., MBA to the Company’s board of directors effective January 3, 2022.

“We are delighted to welcome Amy to our board. She is well recognized for her contribution to the mining industry and brings extensive expertise as well as a depth of mining experience that will serve Endeavour Silver well as we pursue our vision of being a premier senior silver producer,” stated Dan Dickson, Chief Executive Officer.

Ms. Jacobsen has over 30 years of diverse global experience and was recognized among the 100 Global Inspirational Women in Mining 2020. Her experience includes industrial minerals and fertilizers, base metals including copper, cobalt, zinc, and nickel, precious metals, and energy fuels such as coal, lignite and uranium.

Ms. Jacobsen started her career at Homestake and Hazen Research before moving to Stone and Webster Management Consultants. Most recently, she spent 14 years in various management positions at Behre Dolbear Group, including 3 years as chair of the board of directors from 2016 to 2019. Ms. Jacobsen is currently the President of Windward Consulting as well as Adjunct Professor in the Professional Masters – Mining Engineering and Management degree program at the Colorado School of Mines.

Ms. Jacobsen graduated from the Colorado School of Mines with a B.S. in metallurgical engineering as well as a Master of Business Administration from the Executive MBA program at the University of Denver. She is a Qualified Professional in metallurgy through the Mining and Metallurgical Society of America, a registered Professional Engineer in the state of Colorado and an Associate Member of the International Institute of Mineral Appraisers. Ms. Jacobsen is the past president of the Mining and Metallurgical Society of America and past director of the Society for Mining, Metallurgy and Exploration.

About Endeavour Silver
Endeavour Silver is a mid-tier precious metals mining company that operates two high-grade, underground silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision, pending financing and final permits and exploring its portfolio of exploration and development projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer.  The Company’s philosophy of corporate social integrity creates value for all stakeholders.

SOURCE Endeavour Silver Corp.

Contact Information
Trish Moran
Interim Head of Investor Relations
Tel: (416) 564-4290
Email: pmoran@edrsilver.com
Website: www.edrsilver.com

Follow Endeavour Silver on Facebook , Twitter , Instagram and LinkedIn

Wednesday, January 05, 2022

Chakana Copper Corp (CHKKF)(PERU:CA)
Outstanding Huancarama Drill Results; Initial Resource Estimate Expected Shortly

Noble Capital Markets research on Chakana Copper Corp is published under ticker symbols CHKKF and PERU:CA. The price target is in USD and based on ticker symbol CHKKF. Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the high-grade gold-copper-silver Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project consists of high-grade gold-copper-silver mineralization hosted in tourmaline breccia pipes. A total of 33,353 metres of drilling has been completed to-date, testing nine (9) of twenty-three (23) confirmed breccia pipes with more than 92 total targets. Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to several metals including copper, gold, and silver.

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

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

Huancarama drilling results. Chakana Copper released results from 13 additional resource definition and exploration holes, representing 3,265 meters of drilling, at Huancarama which is one of several breccia pipes that will be included in Chakana’s initial resource estimate. In addition to significant copper, gold, and silver grades intercepted in all resource definition drill holes, three intersected molybdenum at depths of around 350 meters below surface. Results included several high-grade intervals of greater than 50 meters, including Hole SDH21-271 which intercepted 3.46% copper, 118.8 grams of silver per tonne, and 0.63 grams of gold per tonne over 50.7 meters, or 4.89% copper equivalent.


Initial resource estimate.  Chakana expects to release an initial mineral resource estimate shortly which will include breccias Bx 1, Bx 5, Bx 6, Paloma East, Paloma West, Huancarama, and possibly Bx 7, down to a depth of 300 meters. We think achieving this milestone could be a significant catalyst for the stock and help investors gauge the mineral resource potential of the broader Soledad project …

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. 

Chakana Reports 50.7m Of 0.63 g/t Gold, 3.46% Copper And 118.8 g/t Silver (4.89% Cu-Eq) In Huancarama At Soledad, Peru

Research, News, and Market Data on Chakana Copper

 

Soledad Project Highlights Include:

• Remaining 13 resource definition and exploration holes at Huancarama reported totalling 3,265m
• Two additional high-grade intervals of >50m lengths also reported
  • 56.15 m @ 0.45 g/t Au, 115.1 g/t Ag, and 2.34% Cu (3.62% Cu-EQ)
  • 54.90 m @ 0.63 g/t Au, 81.7 g/t Ag, and 2.41% Cu (3.52% Cu-EQ)
• Off-set IP surveys continue over high priority targets defined by gradient array and other data sets; numerous new targets have been defined
• Finalizing first-ever resource estimate on the Soledad Project
• 16 out of 110 current targets have been tested to date (15%)

Vancouver, B.C., January 4, 2022 – Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FRA: 1ZX) (the “Company” or “Chakana”), is pleased to provide results from thirteen additional resource definition and exploration holes drilled in Huancarama totaling 3,265m at the Soledad project, Ancash, Peru (see table below). The resource drilling is part of a fully funded exploration and resource drilling program completed in 2021 (Fig. 1).  These results compliment previous results from Huancarama and will increase confidence in the initial resource estimate covering several breccia pipes, which is currently being finalized.

“The multiple high-grade intercepts from Huancarama are a fitting conclusion to the 2020-2021 resource drilling program at Soledad. Since restarting the drill program in August of 2020, we have completed over 30,000m of drilling in 143 drill holes. The initial resource estimate on the shallower extent of several breccia pipes, a first for the project, is nearing completion and will help us better understand the upside potential of the broader Soledad project. Mineralized tourmaline breccia pipes occur within a 12 km2 area, within which we have defined 110 targets through systematic multidisciplinary exploration. Only 16 out of the 110 targets have been tested thus far. In addition, the current geophysical program has defined numerous new targets within the known productive structural corridors that host mineralized breccia pipes,” stated President and CEO David Kelley.

Results
Huancarama (Resource Definition)

* Cu_eq and Au_eq values were calculated using copper, gold, and silver. Metal prices utilized for the calculations are Cu – US$2.90/lb, Au – US$1,300/oz, and Ag – US$17/oz. No adjustments were made for recovery as the project is an early-stage exploration project and metallurgical data to allow for estimation of recoveries are not yet available. The formulas utilized to calculate equivalent values are Cu-eq (%) = Cu% + (Au g/t * 0.6556) + (Ag g/t * 0.00857) and Au-eq (g/t) = Au g/t + (Cu% * 1.5296) + (Ag g/t * 0.01307).

Huancarama
The Huancarama breccia pipe is in the central part of the project at an elevation of 3,950m and is one of several breccia pipes that will be included in Chakana’s initial resource estimate (Fig. 1). This breccia pipe is part of a breccia complex with six outcropping breccias over a lateral distance of 200m east-west. Two of the breccias, separated by 50m at surface, coalesce at depth, forming a larger breccia pipe approximately 100m x 60m in plan. Breccia has been intercepted to a depth of 492m below surface and remains open.

Drill holes described in this release were drilled from three different platforms and were designed to confirm the geometry and continuity of mineralization within the breccia pipe (Figs. 2 and 3). All resource definition holes intersected significant mineralization (see Figure 4 for select core photos of the mineralization). In addition to the high copper, gold and silver grades reported in these drill holes, three of the holes also intersected very strong molybdenum mineralization at depts of around 350m below surface (Fig. 3). For example, SDH21-271 intersected 36m of 0.26% molybdenum from 337m; SDH21-273 intersected 13.7m of 0.29% molybdenum from 354m; and SDH21-275 intersected 21.25m of 0.20% molybdenum from 350m. The significance of this mineralization in relation to surrounding intrusive rocks is being investigated.

One exploration hole (SDH21-274) was drilled to the northeast of the main Huancarama breccia complex testing a possible feeder structure to the breccia complex. This hole intersected strongly altered andesitic lithic tuff along structures, but no significant mineralization was encountered.  

2021 Resource and Exploration Drill Program
A total of 23,947m of drilling has been completed in 2021. The objectives of this drill program are to complete resource definition drilling on several breccia pipes and test several new exploration targets. Breccia pipes that will be included in the initial resource estimate are: Bx1, Bx 5, Bx6, Paloma East, Paloma West, and Huancarama (Fig. 1); a seventh pipe, Bx 7, may also be included pending a final evaluation of the results to date.

During 2021 our drilling was focused on the north half of the project where drill permits are in place. Permitting for the south half of the project is well advanced. The southern half of the property hosts several outcropping mineralized tourmaline breccia pipes and has been recently covered by the Company’s ongoing geophysical program.  Numerous targets exist, none of which have been drilled previously.

Geophysical Surveys
Gradient-array induced-polarization (IP) surveys have been completed over the entire 12km2 footprint of the Soledad mineral system.  Off-set IP surveys are now in-progress covering high priority target areas. This work complements the extensive exploration database that supports our current inventory of 110 exploration targets. This new information identifies both new targets and prioritizes existing targets that will be tested when the exploration drilling programs resume. 

About Chakana Copper
Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project is notable for the high-grade copper-gold-silver mineralization that is hosted in tourmaline breccia pipes. A total of 60,854 metres in 260 diamond core holes for exploration and resource definition drilling have been completed since 2017, testing 16 of 110 total exploration targets, confirming that Soledad is a large, well-endowed mineral system with strong exploration upside.  Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to base and precious metals. For more information on the Soledad project, please visit the website at www.chakanacopper.com.

Sampling and Analytical Procedures
Chakana follows rigorous sampling and analytical protocols that meet or exceed industry standards. Core samples are stored in a secured area until transport in batches to the ALS facility in Callao, Lima, Peru.  Sample batches include certified reference materials, blank, and duplicate samples that are then processed under the control of ALS. All samples are analyzed using the ME-MS41 (ICP technique that provides a comprehensive multi-element overview of the rock geochemistry), while gold is analyzed by AA24 and GRA22 when values exceed 10 g/t by AA24.  Over limit silver, copper, lead and zinc are analyzed using the OG-46 procedure. Soil samples are analyzed by 4-acid (ME-MS61) and for gold by Fire Assay on a 30g sample (Au-ICP21).

Results of previous drilling and additional information concerning the Project, including a technical report prepared in accordance with National Instrument 43-101, are made available on Chakana’s SEDAR profile at www.sedar.com.

Qualified Person
David Kelley, an officer, and a director of Chakana, and a Qualified Person as defined by NI 43-101, reviewed and approved the technical information in this news release.

ON BEHALF OF THE BOARD
(signed) “David Kelley”
David Kelley
President and CEO

For further information contact:
Joanne Jobin, Investor Relations Officer
Phone:   647 964 0292
Email:    jjobin@chakanacopper.com

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

Forward-looking Statement Advisory: This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Chakana to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information relates to, among other things, the interpretation of the nature of the mineralization at the Soledad copper-gold-silver project (the “Project”), the potential to expand the mineralization, and to develop and grow a resource within the Project, the planning for further exploration work, the ability to de-risk the potential exploration targets, and our belief in the potential for mineralization within unexplored parts of the Project. These forward-looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward- looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

Figure 1 – View looking north showing outcropping breccia pipes and occurrences within the northern Soledad cluster. Pipes that will be included in the initial resource are shown in green (Bx 1, Bx 5, Bx 6, Paloma East, Paloma West, and Huancarama). Breccia pipes shown in yellow have had exploration drilling completed. Other pipes/occurrences and targets defined by other exploration data remain to be tested by drilling. Additional breccia pipes occur on the south half of the property and are not shown here.  

Figure 2 – Map showing drill holes reported in this release and modeled breccia pipes at Huancarama (light red shape) based on all drill holes. Light gray contours are at 10m intervals. Blue rectangle in the inset map shows the area of Figure 2 within the overall Soledad property.

Figure 3 – 3D sectional view of Huancarama looking west-northwest. Light red 3D shape shows breccia pipe geometry based on all drill holes. High molybdenum zone intersected in holes SDH21-271, SDH21-273, and SDH21-275 highlighted.

Figure 4 – Select core photos from Huancarama reported in this release: SDH21-257 (125.0m) tourmaline breccia with chalcopyrite-pyrite replacing clasts; SDH21-259 (96.9m) chalcopyrite-pyrite filling open cavity in breccia; SDH21-269 (105.2m) tourmaline breccia with chalcopyrite-pyrite replacing clasts; SDH21-271 (170.85m) chalcopyrite-cemented tourmaline breccia; SDH21-271 (184.85m) chalcopyrite-cemented tourmaline breccia; SDH21-273 (173.0m) chalcopyrite-cemented tourmaline breccia; SDH21-275 (183.3m) massive chalcopyrite-pyrite filling void in breccia with siderite. Core diameter is 6.35cm (HQ) in all instances.