Garibaldi Drilling Shifts To Casper

 

Vancouver, British Columbia, October13, 2021 – Garibaldi Resources (TSXV: GGI) (the “Company” or “Garibaldi”) wishes to notify shareholders that due to hazardous conditions from the early onset of winter on the slopes of Nickel Mountain, the 2021 exploration program will shift drilling for safety reason to the lower elevation Casper quartz gold vein target north of Nickel Mountain within the Company’s 180 sq.km Eskay Claim Group in Northwest British Columbia.

The Geotech ZTEM survey recently completed over the entire Eskay Claim Group, is a key tool able to identify deeper conductors, as indicated by preliminary EM responses. The preliminary data has identified several anomalous areas that the geologic team is eager to evaluate, in particular specific targets across the E&L and Palm Springs property associated with previous geophysical and geochemical anomalies that are near drill ready targets.

Garibaldi is expecting full survey results imminently. Once detailed analysis and interpretation of the final data is completed, the Company will focus plans on the next stage of exploration including geological and geochemical surveys and drill testing on the highest priority geophysical anomalies and high potential areas.

Casper Targets:

Garibaldi drilled four shallow diamond drill holes last December to test three separate quartz veins, two of which contain visible gold and a mineralized silicified volcanic unit that also contained visible gold. All four holes intercepted gold mineralization. See February 12, 2021 news release for details. 

• The 2021 drill program will test along trend of the known mineralized vein system to both the northwest and southeast, as well as down dip while simultaneously targeting silicified volcanic units which have hosted gold mineralization in both outcrop and core.
• The mapping of four separate rock units containing gold at Casper, has elevated expectations with regards to the potential for the system to represent a bulk mineralized zone, with over 120 meters of systematic  trenching of high grade gold in quartz veins that may be the surface expression of targets at greater depth.
• Newly acquired SkyTEM data has identified steeply dipping high resistivity breaks within stronger conductive zones coincident with the known Casper system, which is composed of quartz veins and silicified volcanics. Only one hole to date has exceeded 150 meters in depth.
• Two additional high resistivity breaks were identified north of the known mineralized system, as well as significant high resistivity areas trending continuously to the northwest from the known system. These peripheral targets may also be tested in this drilling campaign.

The Casper high-grade quartz gold vein system remains open with select rock samples exceeding 1.0g/t gold extending along trend for 330 meters within a 500-meter-wide gold-in-soil anomaly. Multiple selected grab samples with visible gold taken from a trench on the east side of the main Casper vein returned exceptional gold grades, see news dated Sept.22, 2020. Casper provides another remarkable drill target that continues to expand.

Steve Regoci, Garibaldi’s CEO, stated: “The challenge for our geological team is the significant number of base and precious metal showings sampled along these deep-seated structural trends. The ZTEM survey data will help to define, rank and prioritize deeper conductive anomalies. Even as drilling at the E&L and Casper discoveries expands the mineralized potential within the Eskay Claim Group, new targets at Palm Springs, triple faults and Mount Shirley continue to emerge for follow up.”

VP of Exploration Jeremy Hanson stated “Our highest priority at Casper is vectoring towards the source of the high-grade gold veins and gold bearing silicified volcanics. The hydrothermal system where these fluids originated from has the potential to be another significant discovery in the Golden Triangle. While we are currently focused on actively exploring Casper, we are eagerly awaiting full final data and 3D inversion for the property wide ZTEM survey”

Qualified Person

James Hutter, P.Geo., 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.

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     

Garibaldi Drilling Shifts To Casper

 

Vancouver, British Columbia, October13, 2021 – Garibaldi Resources (TSXV: GGI) (the “Company” or “Garibaldi”) wishes to notify shareholders that due to hazardous conditions from the early onset of winter on the slopes of Nickel Mountain, the 2021 exploration program will shift drilling for safety reason to the lower elevation Casper quartz gold vein target north of Nickel Mountain within the Company’s 180 sq.km Eskay Claim Group in Northwest British Columbia.

The Geotech ZTEM survey recently completed over the entire Eskay Claim Group, is a key tool able to identify deeper conductors, as indicated by preliminary EM responses. The preliminary data has identified several anomalous areas that the geologic team is eager to evaluate, in particular specific targets across the E&L and Palm Springs property associated with previous geophysical and geochemical anomalies that are near drill ready targets.

Garibaldi is expecting full survey results imminently. Once detailed analysis and interpretation of the final data is completed, the Company will focus plans on the next stage of exploration including geological and geochemical surveys and drill testing on the highest priority geophysical anomalies and high potential areas.

Casper Targets:

Garibaldi drilled four shallow diamond drill holes last December to test three separate quartz veins, two of which contain visible gold and a mineralized silicified volcanic unit that also contained visible gold. All four holes intercepted gold mineralization. See February 12, 2021 news release for details. 

• The 2021 drill program will test along trend of the known mineralized vein system to both the northwest and southeast, as well as down dip while simultaneously targeting silicified volcanic units which have hosted gold mineralization in both outcrop and core.
• The mapping of four separate rock units containing gold at Casper, has elevated expectations with regards to the potential for the system to represent a bulk mineralized zone, with over 120 meters of systematic  trenching of high grade gold in quartz veins that may be the surface expression of targets at greater depth.
• Newly acquired SkyTEM data has identified steeply dipping high resistivity breaks within stronger conductive zones coincident with the known Casper system, which is composed of quartz veins and silicified volcanics. Only one hole to date has exceeded 150 meters in depth.
• Two additional high resistivity breaks were identified north of the known mineralized system, as well as significant high resistivity areas trending continuously to the northwest from the known system. These peripheral targets may also be tested in this drilling campaign.

The Casper high-grade quartz gold vein system remains open with select rock samples exceeding 1.0g/t gold extending along trend for 330 meters within a 500-meter-wide gold-in-soil anomaly. Multiple selected grab samples with visible gold taken from a trench on the east side of the main Casper vein returned exceptional gold grades, see news dated Sept.22, 2020. Casper provides another remarkable drill target that continues to expand.

Steve Regoci, Garibaldi’s CEO, stated: “The challenge for our geological team is the significant number of base and precious metal showings sampled along these deep-seated structural trends. The ZTEM survey data will help to define, rank and prioritize deeper conductive anomalies. Even as drilling at the E&L and Casper discoveries expands the mineralized potential within the Eskay Claim Group, new targets at Palm Springs, triple faults and Mount Shirley continue to emerge for follow up.”

VP of Exploration Jeremy Hanson stated “Our highest priority at Casper is vectoring towards the source of the high-grade gold veins and gold bearing silicified volcanics. The hydrothermal system where these fluids originated from has the potential to be another significant discovery in the Golden Triangle. While we are currently focused on actively exploring Casper, we are eagerly awaiting full final data and 3D inversion for the property wide ZTEM survey”

Qualified Person

James Hutter, P.Geo., 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.

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     

Metals & Mining Third Quarter 2021 Review and Outlook

Noble Capital Markets Natural Resources Sector Review – October 2021

Source: Capital IQ as of 09/30/2021

Source: Capital IQ as of 09/30/2021; Company Filings

METALS AND MINING INDUSTRY OUTLOOK

Metals & Mining Third Quarter 2021 Review and Outlook

Precious metals miners had a rough quarter.

During the third quarter, mining companies (as measured by the XME) declined 3.1% compared to a gain of 0.2% for the S&P 500 index. The VanEck Vectors Gold Miners (GDX) and Junior Gold Miners (GDXJ) ETFs were down 13.3% and 18.1%, respectively. Gold, silver, and copper futures prices were down 0.8%, 15.3%, and 4.3%, respectively, while lead and zinc were up 3.6% and 4.8%. Year-to-date through September 30, gold and silver prices declined 7.8% and 16.6%, respectively, while copper, lead, and zinc prices were up 16.4%, 17.8%, and 17.3%. While our last quarterly update predicted range-bound gold and silver prices, we are growing more bullish going into 2022. Moreover, our outlook remains upbeat for industrial metals.

Growing conviction on precious metals.

During the third quarter, the U.S. Dollar Index rose 1.9% and is up 4.8% year-to-date through September 30. The yield on the 10-year rose modestly during the quarter and was up 61 basis points compared to year-end 2020. While a rise in the U.S. dollar and treasury yields are headwinds for gold, it is likely that inflation will remain elevated through 2022, real interest rates will remain low, and investors may begin to focus on rising federal deficit spending and debt levels. Less favorable year-over-year GDP growth comparisons could take momentum out of growth stocks and investors may tilt to value and defensive sectors. We think gold may be viewed more favorably as a store of value and silver could benefit from renewed interest in gold. While we value cryptocurrencies’ utility as a medium of exchange, they have become more of a speculative vehicle whose market values are untethered to intrinsic value.

Still bullish on base metals.

With respect to industrial metals, we remain bullish due to favorable supply and demand fundamentals supported by global economic growth, infrastructure spending, and trends toward electrification, decarbonization, and renewable power technologies.

Exposure to mining stocks

Investors should remain exposed to precious and base metals through mining stocks. Valuations, particularly among junior companies, remain attractive. Because large, high-quality deposits are becoming increasingly scarce, geopolitical considerations more complex, and lead times for bringing a mine into production longer, M&A activity could accelerate as large mining companies seek to bolster reserves and resources.

Source: Capital IQ as of 09/30/2021

Gold Mining – Comparable Tables 

Source: Capital IQ as of 09/30/2021

Gold Mining – LTM Equity Performance 

Source: Capital IQ as of 09/30/2021

Silver Mining – Comparable Tables 

Source: Capital IQ as of 09/30/2021

Silver Mining – LTM Equity Performance 

Source: Capital IQ as of 09/30/2021

Gold & Silver – LTM Global M&A Activity 

Source: Capital IQ as of 09/30/2021

Diversified Mining – Comparable Tables 

Source: Capital IQ as of 09/30/2021

Diversified Mining – LTM Equity Performance 

Source: Capital IQ as of 09/30/2021

Diversified Mining – LTM Global M&A Activity 

Source: Capital IQ as of 09/30/2021

LTM Mining Industry M&A Summary 

Source: Capital IQ as of 06/30/2021

NOBLE QUARTERLY HIGHLIGHTS

Jaxon Mining Inc. (TSXV:JAX)

Industry: Metals and Mining – Precious metals; Gold & Silver

Jaxon Mining is a Canadian-based exploration and development company pursuing the discoveries of commercial scale and grade Cu, Au, Ag, polymetallic projects. Jaxon focuses on overlooked and underexplored targets with deeper intervals that have not been identified or adequately explored; in areas that often have not been systematically mapped, modeled or drilled. Jaxon is currently focused on the Skeena Arch, an exceptionally orogenic and metallogenic area, in one of the most richly endowed terrains in British Columbia.

3rd Quarter News Highlights:

September 20, 2021: Jaxon announced an update on the Netalzul Mt project at British Columbia. The company completed a DC resistivity/induced polarization (IP) survey and a short interval magnetotelluric (MT) survey utilizing the Volterra Acquisition System, conducted by SJ Geophysics Ltd; and a LiDAR data acquisition conducted by Eagle Mapping Ltd. In addition, as of September 16, eight diamond drilling holes have been completed for a total of 2,258 metres at the Netalzul Mt project.

Bunker Hill Mining Corp. (OTCQB:BHLL)

Industry: Metals and Mining – Precious metals; Silver

Bunker Hill Mining Corp, intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating a portfolio of North American precious-metal assets with a focus on silver. The company is dedicated to restart the historical mine as a modern, zero-emission, zero-footprint, long-life, underground operation that provides long-lasting benefits for all stakeholders.

3rd Quarter News Highlights:

September 23, 2021: The company announced the completion of a geophysics survey and entered a $2,500,000 bridge loan financing to support near-term working capital needs. Sam Ash, CEO of Bunker Hill Mining, stated: “Our exploration team was tasked to identify new mineralization near to both the surface and existing infrastructure. The completion of this geophysics survey is an important step in their on-going campaign, and we look forward to reporting its findings and next steps. We are also pleased to have secured bridge financing to support our working capital requirements as we complete our project finance process.”

World Copper Ltd. (OTCQB:WCUFF)

Industry: Metals and Mining – Diversified metals and mining

World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused on the exploration and development of its two primary copper porphyry projects, Escalones and Cristal, both located in Chile.

3rd Quarter News Highlights:

September 20, 2021: The company signed a definitive agreement for the acquisition of Cardero Resource Corp. The deal is part of a plan to enhance World Copper’s portfolio of mineral projects as it would tap into Cardero’s Zonia copper oxide project in central Arizona. Nolan Peterson, World Copper’s CEO stated, “The signing of the definitive agreement with Cardero is another milestone for World Copper and one that will bring significant value to our shareholders. Our team sees upside potential at Zonia that has, to this point been unrealized, including a low-cost development and permitting path. We will apply the same knowledge and expertise to Zonia, as we have to our Escalones property, and work to advance and de-risk the project going forward.”

Source: Company Press Releases

DOWNLOAD THE FULL REPORT (PDF)

Noble Capital Markets Metals & Mining Newsletter Q3 2021

This newsletter was prepared and provided by Noble Capital Markets, Inc. For any questions and/or requests regarding this newsletter, please contact >Francisco Penafiel

DISCLAIMER

All statements or opinions contained herein that include the words “ we”,“ or “ are solely the responsibility of NOBLE Capital Markets, Inc and do not necessarily reflect statements or opinions expressed by any person or party affiliated with companies mentioned in this report Any opinions expressed herein are subject to change without notice All information provided herein is based on public and non public information believed to be accurate and reliable, but is not necessarily complete and cannot be guaranteed No judgment is hereby expressed or should be implied as to the suitability of any security described herein for any specific investor or any specific investment portfolio The decision to undertake any investment regarding the security mentioned herein should be made by each reader of this publication based on their own appraisal of the implications and risks of such decision This publication is intended for information purposes only and shall not constitute an offer to buy/ sell or the solicitation of an offer to buy/sell any security mentioned in this report, nor shall there be any sale of the security herein in any state or domicile in which said offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or domicile This publication and all information, comments, statements or opinions contained or expressed herein are applicable only as of the date of this publication and subject to change without prior notice Past performance is not indicative of future results.

Please refer to the above PDF for a complete list of disclaimers pertaining to this newsletter

Friday, October 08, 2021

Sierra Metals (SMTS)(SMT:CA)
BOD Concludes Review of Strategic Alternatives; Authorizes Annual Dividend of $0.03 Per Share

As of April 24, 2020, Noble Capital Markets research on Sierra Metals is published under ticker symbols (SMTS and SMT:CA). The price target is in USD and based on ticker symbol SMTS. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Sierra Metals Inc is a precious and base metals producer in Latin America. The company acquires, explores, extracts, and produces mineral concentrates consisting of silver, copper, lead, zinc and gold in Mexico and Peru. Its activity includes the operation of the Yauricocha Mine in Peru, and the Bolivar and Cusi mines in Mexico. Yauricocha is an underground polymetallic mine using the sublevel block caving and cut-and-fill mining methods. Bolivar is a copper-silver-zinc-gold underground mine using room-and-pillar mining method. The majority of the revenue is earned by selling of the mineral concentrates to its customers in Peru.

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.

Strategic review completed. The Board of Directors concluded its review of strategic alternatives. The company will continue to seek production growth through expansions with a focus on base metals such as copper, zinc, and iron ore and may consider joint venture, partnerships and/or divestment of certain assets, including the Cusi silver mine and/or exploration properties outside Sierra’s current operating area.


Dividend announced.  The Board has authorized the payment of an annual dividend comprised of a base dividend of $0.03 per share and an additional amount based on available cash flows. The initial dividend is expected to be declared in November 2021 and paid in December 2021. The dividend reflects a favorable cash flow growth outlook and the board’s desire to return capital to shareholders. Based on …

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. 

Friday, October 08, 2021

Sierra Metals (SMTS)(SMT:CA)
BOD Concludes Review of Strategic Alternatives; Authorizes Annual Dividend of $0.03 Per Share

As of April 24, 2020, Noble Capital Markets research on Sierra Metals is published under ticker symbols (SMTS and SMT:CA). The price target is in USD and based on ticker symbol SMTS. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Sierra Metals Inc is a precious and base metals producer in Latin America. The company acquires, explores, extracts, and produces mineral concentrates consisting of silver, copper, lead, zinc and gold in Mexico and Peru. Its activity includes the operation of the Yauricocha Mine in Peru, and the Bolivar and Cusi mines in Mexico. Yauricocha is an underground polymetallic mine using the sublevel block caving and cut-and-fill mining methods. Bolivar is a copper-silver-zinc-gold underground mine using room-and-pillar mining method. The majority of the revenue is earned by selling of the mineral concentrates to its customers in Peru.

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.

Strategic review completed. The Board of Directors concluded its review of strategic alternatives. The company will continue to seek production growth through expansions with a focus on base metals such as copper, zinc, and iron ore and may consider joint venture, partnerships and/or divestment of certain assets, including the Cusi silver mine and/or exploration properties outside Sierra’s current operating area.


Dividend announced.  The Board has authorized the payment of an annual dividend comprised of a base dividend of $0.03 per share and an additional amount based on available cash flows. The initial dividend is expected to be declared in November 2021 and paid in December 2021. The dividend reflects a favorable cash flow growth outlook and the board’s desire to return capital to shareholders. Based on …

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. 

Thursday, October 07, 2021

Newrange Gold Corp. (NRGOF)(NRG:CA)
The Opportunity Set at Pamlico Could Expand Beyond Gold

As of April 24, 2020, Noble Capital Markets research on Newrange Gold is published under ticker symbols (NRGOF and NRG:CA). The price target is in USD and based on ticker symbol NRGOF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Newrange Gold Corp is an exploration stage company focused on acquiring and exploring exploration and evaluation assets in Colombia and the United States. The Company operates in a single reportable operating segment-the acquisition, exploration, and development of mineral properties. Some of the projects acquired by the company are Pamlico gold project in Nevada and Rocky mountain project in Colorado. The company also holds an interest in the Yarumalito property, El Dovio property and Anori property in Colombia.

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

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

Assay results yield a few surprises. Assay results were released for four follow-up diamond core holes representing 800.6 meters of drilling around Hole P21-115, a reverse circulation hole that discovered shallow, high-grade oxide gold mineralization just east of the Merritt Zone and north of the historic Pamlico mine. Instead of gold mineralization resembling that observed in Hole P21-115, Holes P21-122 through P21-125 revealed concentric halos of zinc, lead, copper, arsenic, silver, and higher gold values near the center.


Looking through a broader lens.  Information from geophysical work, mapping, and rock and soil sampling point to strong intrusive activity in the southern part of the property, with widespread copper, zinc, silver, and gold mineralization. Coupled with recent diamond drilling, the company appears to be outlining a large-scale polymetallic system …

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. 

Sierra Metals Completes Strategic Review Process, Initiates Annual Base Dividend of US$0.03 Per Share and Appoints Two New Directors to Its Board

 

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) announces today that its Board of Directors (the “Board”) has completed its previously announced review of strategic alternatives.

Based on an extensive review of various alternatives, the Board has determined, in consultation with its financial and legal advisors, that maximum value for shareholders will be delivered through the pursuit by the Company of various strategic value-enhancing opportunities.

Within its current assets and diversified extensive resource base, the Company will continue to focus its efforts on growing the production of the metals expected to feed into the anticipated global infrastructure supply demands. The increased focus will apply specifically to copper and steel-making products (zinc and iron ore), with the production of the precious metals as a valuable cost-credit byproduct.

Furthermore, the Company has completed an actionable review of its assets and will consider appropriate further action over the Company’s portfolio of assets. This action could take the form of divestments, joint ventures (“JVs”) or partnerships, and it could include assets such as the Cusi Silver Mine or exploration targets which lie outside the current operating areas.

Sierra Metals believes in the importance of Environmental, Social and Corporate Governance and will proceed with a heightened focus on these matters with a view to maintaining the best applicable practices in each of these areas. We strive for excellence in fulfilling our environmental and social duties and responsibilities, ultimately sharing increased wellbeing with our workforce and in the communities where we operate.

The Company will continue with a disciplined capital allocation approach and the use of funds on sustaining and growth projects, using a stringent stage-gate process with a close follow-up on implementation and delivery of projects which include:

• Delivery of current Prefeasibility Studies for mine expansion at our 3 operations, starting with Bolivar Mine, followed by Yauricocha and Cusi.

• Advancing with the inclusion into the Company’s mine plans of certain near-term underground and brownfield mine opportunities with the aim of increasing the return at the Yauricocha and Bolivar Mines.

Following COVID restrictions that limit the Company on its exploration activities, greenfield exploration on our extensive 110,000-hectare land packages will be reactivated in due course to develop new and expanded mineral resource opportunities. The Company will be open to JVs and partnerships for these opportunities.

Jose Vizquerra-Benavides, Chairman of the Board of Sierra Metals, said, “We have reached the end of the strategic review process announced early this year. This process, which has taken longer than usual due to COVID, has been instrumental in highlighting the value of our current operations and the value-enhancing opportunities that are available for development. The process has allowed us to develop a strategy that will guide our efforts for the coming years, including a renewed focus on green and steel-related metals, the inclusion of added value from our current extensive land holdings and shared wellbeing with our stakeholders.”

Luis Marchese, CEO of Sierra Metals, said: “The Company expects to have more robust EBITDA and free cash flow starting next year and carrying on into the coming years. This is a benefit of the recent throughput expansions, which are expected to increase production across our suite of metals, hand in hand with strengthened metal prices based on current consensus metal price projections. Our newly instituted dividend policy has been inaugurated on the back of these positive developments and speaks to our belief in Company and our ability to deliver on our growth initiatives. Over the past several years, we have made significant changes across the organization, streamlining our business, strengthening our team, optimizing our operations, and driving much-improved financial performance. Our operations have not only proven themselves to be quite resilient in these uncertain times, but we also expect to emerge from the pandemic and the strategic review process as a significantly stronger Company with a strong focus on growth and value creation for all shareholders as we execute our strategy.”

Annual Dividend

In addition, the Board has authorized the payment of an annual dividend to consist of a base dividend of US$5 million or US$0.03 per share plus an additional amount based on available cash flows generated each year after accounting for planned capital spending, distributions to non-controlling interests, greenfield exploration and mandatory debt service. The initial dividend is expected to be declared in November 2021 and paid to shareholders in December 2021. Additional details of this dividend will be provided in a subsequent press release.

Appointment of New Directors

The Board is also pleased to announce the appointment of Carlos E. Santa Cruz and Oscar M. Cabrera to the Board, effective immediately. Messrs. Cabrera and Santa Cruz have been appointed following the resignation of two directors earlier this year.

Mr. Santa Cruz is a Mining Engineer with over 40 years of experience of strong international managerial background in mining operations at a senior level. He held positions with major mining companies, including Senior Vice-President of Australian and New Zealand Operations and Senior Vice-President of South American Operations for Newmont. He currently sits as Chairman of the Board for BISA Ingenieria de Proyectos S.A.. and Director for JRC Ingeniería y Construcción S.A.C. Mr. Santa Cruz is an Independent Mining Consultant and Part-time Professor at Pontificia Universidad Católica and is a member of Industry Advisory Committees at Penn State and Piura University. Chairman of the Board for CIMADE, NGO oriented to promote sustainable mining and infrastructure megaprojects. Mr. Santa Cruz holds a Ph.D., Mining Engineering and M Eng., Industrial Engineering from Penn State University, as well as the Advanced Management Program from Harvard University. Mr. Santa Cruz is a Peruvian Citizen.

Mr. Cabrera is a Senior equity analyst with over 20 years of experience covering the metals and mining industry for bulge bracket investment banks and Canadian financial institutions, including Goldman Sachs, Merrill Lynch Canada and CIBC World Markets. He obtained recognition for industry thought leadership, fundamental commodity analysis and strong industry relationships, which has led to advisory roles for public mining companies, including Nexa Resources S.A. He also participated in the vetting of and advising on primary and secondary offerings in Canada, the U.S. and Europe. Mr. Cabrera holds a MBA from York University, a M Eng. in Structural Engineering from the University of Toronto and a B. Sc in Civil Engineering from the Instituto Tecnológico y de Estudios Superiores de Monterrey. Mr. Cabrera is a Canadian Citizen, originally from Mexico.

Jose Vizquerra-Benavides commented, “We are extremely pleased to have Carlos and Oscar join the Board of Sierra. Their extensive knowledge of mining operations and projects both in Peru and Mexico as well as commodity analysis and capital markets will benefit the Company as we progress on a plan of growth and value creation for all stakeholders.”

About Sierra Metals

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

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

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

Continue to Follow, Like and Watch our progress:

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

Forward-Looking Statements

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

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

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

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

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

Source: Sierra Metals Inc.

Sierra Metals Completes Strategic Review Process, Initiates Annual Base Dividend of US$0.03 Per Share and Appoints Two New Directors to Its Board

 

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) announces today that its Board of Directors (the “Board”) has completed its previously announced review of strategic alternatives.

Based on an extensive review of various alternatives, the Board has determined, in consultation with its financial and legal advisors, that maximum value for shareholders will be delivered through the pursuit by the Company of various strategic value-enhancing opportunities.

Within its current assets and diversified extensive resource base, the Company will continue to focus its efforts on growing the production of the metals expected to feed into the anticipated global infrastructure supply demands. The increased focus will apply specifically to copper and steel-making products (zinc and iron ore), with the production of the precious metals as a valuable cost-credit byproduct.

Furthermore, the Company has completed an actionable review of its assets and will consider appropriate further action over the Company’s portfolio of assets. This action could take the form of divestments, joint ventures (“JVs”) or partnerships, and it could include assets such as the Cusi Silver Mine or exploration targets which lie outside the current operating areas.

Sierra Metals believes in the importance of Environmental, Social and Corporate Governance and will proceed with a heightened focus on these matters with a view to maintaining the best applicable practices in each of these areas. We strive for excellence in fulfilling our environmental and social duties and responsibilities, ultimately sharing increased wellbeing with our workforce and in the communities where we operate.

The Company will continue with a disciplined capital allocation approach and the use of funds on sustaining and growth projects, using a stringent stage-gate process with a close follow-up on implementation and delivery of projects which include:

• Delivery of current Prefeasibility Studies for mine expansion at our 3 operations, starting with Bolivar Mine, followed by Yauricocha and Cusi.

• Advancing with the inclusion into the Company’s mine plans of certain near-term underground and brownfield mine opportunities with the aim of increasing the return at the Yauricocha and Bolivar Mines.

Following COVID restrictions that limit the Company on its exploration activities, greenfield exploration on our extensive 110,000-hectare land packages will be reactivated in due course to develop new and expanded mineral resource opportunities. The Company will be open to JVs and partnerships for these opportunities.

Jose Vizquerra-Benavides, Chairman of the Board of Sierra Metals, said, “We have reached the end of the strategic review process announced early this year. This process, which has taken longer than usual due to COVID, has been instrumental in highlighting the value of our current operations and the value-enhancing opportunities that are available for development. The process has allowed us to develop a strategy that will guide our efforts for the coming years, including a renewed focus on green and steel-related metals, the inclusion of added value from our current extensive land holdings and shared wellbeing with our stakeholders.”

Luis Marchese, CEO of Sierra Metals, said: “The Company expects to have more robust EBITDA and free cash flow starting next year and carrying on into the coming years. This is a benefit of the recent throughput expansions, which are expected to increase production across our suite of metals, hand in hand with strengthened metal prices based on current consensus metal price projections. Our newly instituted dividend policy has been inaugurated on the back of these positive developments and speaks to our belief in Company and our ability to deliver on our growth initiatives. Over the past several years, we have made significant changes across the organization, streamlining our business, strengthening our team, optimizing our operations, and driving much-improved financial performance. Our operations have not only proven themselves to be quite resilient in these uncertain times, but we also expect to emerge from the pandemic and the strategic review process as a significantly stronger Company with a strong focus on growth and value creation for all shareholders as we execute our strategy.”

Annual Dividend

In addition, the Board has authorized the payment of an annual dividend to consist of a base dividend of US$5 million or US$0.03 per share plus an additional amount based on available cash flows generated each year after accounting for planned capital spending, distributions to non-controlling interests, greenfield exploration and mandatory debt service. The initial dividend is expected to be declared in November 2021 and paid to shareholders in December 2021. Additional details of this dividend will be provided in a subsequent press release.

Appointment of New Directors

The Board is also pleased to announce the appointment of Carlos E. Santa Cruz and Oscar M. Cabrera to the Board, effective immediately. Messrs. Cabrera and Santa Cruz have been appointed following the resignation of two directors earlier this year.

Mr. Santa Cruz is a Mining Engineer with over 40 years of experience of strong international managerial background in mining operations at a senior level. He held positions with major mining companies, including Senior Vice-President of Australian and New Zealand Operations and Senior Vice-President of South American Operations for Newmont. He currently sits as Chairman of the Board for BISA Ingenieria de Proyectos S.A.. and Director for JRC Ingeniería y Construcción S.A.C. Mr. Santa Cruz is an Independent Mining Consultant and Part-time Professor at Pontificia Universidad Católica and is a member of Industry Advisory Committees at Penn State and Piura University. Chairman of the Board for CIMADE, NGO oriented to promote sustainable mining and infrastructure megaprojects. Mr. Santa Cruz holds a Ph.D., Mining Engineering and M Eng., Industrial Engineering from Penn State University, as well as the Advanced Management Program from Harvard University. Mr. Santa Cruz is a Peruvian Citizen.

Mr. Cabrera is a Senior equity analyst with over 20 years of experience covering the metals and mining industry for bulge bracket investment banks and Canadian financial institutions, including Goldman Sachs, Merrill Lynch Canada and CIBC World Markets. He obtained recognition for industry thought leadership, fundamental commodity analysis and strong industry relationships, which has led to advisory roles for public mining companies, including Nexa Resources S.A. He also participated in the vetting of and advising on primary and secondary offerings in Canada, the U.S. and Europe. Mr. Cabrera holds a MBA from York University, a M Eng. in Structural Engineering from the University of Toronto and a B. Sc in Civil Engineering from the Instituto Tecnológico y de Estudios Superiores de Monterrey. Mr. Cabrera is a Canadian Citizen, originally from Mexico.

Jose Vizquerra-Benavides commented, “We are extremely pleased to have Carlos and Oscar join the Board of Sierra. Their extensive knowledge of mining operations and projects both in Peru and Mexico as well as commodity analysis and capital markets will benefit the Company as we progress on a plan of growth and value creation for all stakeholders.”

About Sierra Metals

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

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

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

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Forward-Looking Statements

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

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

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

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

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

Source: Sierra Metals Inc.

Wednesday, October 06, 2021

Palladium One Mining (NKORF)(PDM:CA)
Additional Drill Results Released; Board and Management Appointments

Palladium One Mining Inc is a palladium dominant, PGE, nickel, copper exploration and development company. Its assets consist of the Lantinen Koillismaa and Kostonjarvi PGE-Cu-Ni projects, located in north-central Finland and the Tyko Ni-Cu-PGE and Disraeli PGE-Ni-Cu properties in Ontario, Canada. LK is targeting disseminated sulphide along 38 kilometers of favorable basal contact. The KS project is targeting massive sulphide within a 20,000-hectare land package covering a regional scale gravity and magnetic geophysical anomaly. Tyko is a 13,000-hectare project targeting disseminated and massive sulphide in a highly metamorphosed Archean terrain. Disraeli is a 2,500-hectare project targeting PGE-rich disseminated and massive sulphide in a highly productive Proterozoic mid-continent rift.

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.

Kaukua South drilling results. Palladium One Mining released drill results for six holes at Kaukua South. Hole LK21-088 intersected 3.1 grams of palladium equivalent per tonne over 21.3 meters, within 2.4 grams of palladium equivalent per tonne over 48.5 meters, starting at 120 meters depth. With Hole LK21-087 returning 1.0 gram of palladium equivalent per tonne over 51.0 meters, the mineralized zone of Kaukua South has been extended 200 meters east from previous drilling.


Potential to add resources along the eastern extension.  The company has focused on including the western two kilometers of Kaukua South into a maiden resource estimate and expanding the initial 2019 Kaukua mineral resource estimate. The eastern portion of Kaukua South has not been drilled extensively despite returning significant results in the past. Hole LK21-087 is the furthest hole drilled to …

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. 

Palladium One Announces the Appointment of a Board Chairman, Chief Financial Officer and ESG Committee

 

October 5, 2021 – Toronto, Ontario – Palladium One Mining Inc. (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) is pleased to announce the appointment of Mr. Lawrence Roulston as Non-Executive Chairman and Ms. Sara Hills as Chief Financial Officer and Corporate Secretary. In addition, the Company is pleased to announce the formation of a new ESG committee of the board of directors. The ESG Committee, will be chaired by Ms. Giovanna Bee Moscoso an Independent Director of the Company.

“We are delighted to have Mr. Roulston, Ms. Moscoso and Ms. Hills take on their new responsibilities and look forward to gaining from their extensive experiences” said Derrick Weyrauch President and CEO of Palladium One. “We wish to thank Mr. Robert Scott and Mr. Jeff Dare for their, respective, past services as CFO and Corporate Secretary of the Company and we wish them much success in their future endeavors.”

About Lawrence Roulston

Lawrence Roulston is a mining professional with over 35 years of diverse hands-on experience. He heads WestBay Capital Advisors, providing business advisory and capital markets expertise to the junior and mid-tier sectors of the mining industry. From 2014 to 2016, he was President of Quintana Resources Capital, which provided resource advisory services for US private investors. Before Quintana, he was a mining analyst and consultant, as well as the editor of “Resource Opportunities”, an independent investment publication focused on the mining industry. Prior to this, Lawrence was an analyst or executive with various companies in the resources industry, both majors and juniors. He has graduate-level training in business and holds a B.Sc. in geology and is presently a director of Metalla Royalty and Streaming Ltd, Mountain Boy Minerals Ltd, Thunderstruck Resources Ltd and Enduro Metals Corp.

About Giovanna Bee Moscoso

Ms. Bee Moscoso is an experienced mining executive with over 28 years of experience, including progressive responsibilities over 25 years at Barrick Gold Corporation, where previously she was a partner, Vice President and Assistant General Counsel. At Barrick she co-designed and co-led the implementation of the Global Ethics and Compliance Program of Barrick Gold.

Giovanna has managed legal, regulatory, permitting and contractual matters for various mines in the Americas during exploration, development, operations and mine closures, and held responsibilities for coordinating government and public relations, and developing social outreach programs to foster positive relations with stakeholders, including long-term agreements with indigenous communities and private landowners. Her background also includes providing legal and governance oversight to major mining operations in the Americas and Africa.

About Sara Hills

Ms. Hills is a CPA, CA with over 16 years experience in accounting and finance and has achieved increasingly senior roles in public mining companies including with KGHM International and Teck Resources. At KGHM International she led the accounting and financial reporting functions for Quadra Mining and Quadra FNX as well as the international reporting for KGHM International. At Teck Resources she worked closely with the exploration group, leading their accounting, reporting and budgeting functions. She started her career in public practice at BDO and KPMG and holds a BBA.

About Palladium One

Palladium One Mining Inc. is an exploration company targeting district scale, platinum-group-element (PGE)-copper nickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK Project, a palladium dominant platinum group element-copper-nickel project in north-central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 kilometers of favorable basal contact and building on an established NI 43-101 open pit Mineral Resource.

ON BEHALF OF THE BOARD
“Derrick Weyrauch”
President & CEO, Director

For further information contact: Derrick Weyrauch, President & CEO
Email: info@palladiumoneinc.com

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

This press release includes “forward-looking information” that is subject to a few assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company’s common shares on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions and general business conditions. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company’s annual information form dated April 29, 2020 and filed under the Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

Palladium One Continues to Deliver Strong Drilling Results at Kaukua South, Finland

 

3.1 g/t Palladium Equivalent over 21.3 meters, within 2.4 g/t Palladium Equivalent over 48.5 meters at Kaukua South, LK Project, Finland

Drilling extends mineralization 200 meters on eastern side of Kaukua South, returning 1.0 g/t Palladium Equivalent over 51.0 meters

October 5, 2021 – Toronto, Ontario – Palladium One Mining Inc. (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) is pleased to announce Kaukua South drillhole LK21-088 intersected 3.1 g/t Palladium Equivalent (“Pd_Eq”) over 21.3 meters, within 2.4 g/t Pd_Eq over 48.5 meters, starting at 120 meters depth (Figure 1, and 2).

Additionally, with hole LK-21-087 returning 1.0 g/t Pd_Eq over 51.0 meters the mineralized zone of Kaukua South has been extended 200 meters east from previous drilling, (Figure 3). In aggregate, the Kaukua Trend which includes both the Kaukua deposit and the Kaukua South Zone, now boasts a drill defined mineralized strike length of 4.4 kilometers within a 7-kilometer-long Induced Polarization (“IP”) chargeability anomaly (Figure 1 and 3). Hole LK21-087 confirms that the eastern portion of the Kaukua Trend remains open for further expansion, particularly given a robust IP anomaly has been identified 1 kilometer east of hole LK21-087, see news release July 7, 2021.

Derrick Weyrauch, President and CEO of Palladium One highlighted: “Our Kaukua South discovery continues to deliver excellent results. Today’s drill results from the eastern portion of the Kaukua Trend is further evidence of a prolific mineralized system on our property which we plan to follow up with additional drilling.”

The eastern portion of Kaukua South has received significantly less drilling as we are focused on brining the western two kilometers of Kaukua South to a maiden Resource Estimate and expanding the initial 2019 Kaukua Mineral Resource Estimate. The eastern portion of Kaukua South has returned significant results in the past, such as hole LK20-017 which returned 1.56 g/t Pd_Eq over 22.2 meters (0.22 g/t Pd, 0.05 g/t Pt, 0.09 g/t Au, 0.32% Cu, 0.20% Ni, 119 ppm Co), see October 22, 2020. Today’s announcement of hole LK21-087, is the furthest step-out hole drilled to the east at Kaukua South which when combined with the strong IP anomalies indicate a strong potential to add additional resources along the eastern extension of the Kaukua Trend.

Figure 1. Historic and current drilling in the Kaukua and Western portion of the Kaukau South area having a drill data cut off date of September 4, 2021 (hole LK21-128), assays have been received for holes up to LK21-088, the rest are pending. Background is Induced Polarization (“IP”) Chargeability.

Figure 2. Kaukua South Long Section. Having a drill data cut off date of September 4, 2021 (hole LK21-128), assays have been received for holes up to LK21-088, the rest are pending. The long section covers only the western portion of Kaukua South which the Company is focused on bringing to an initial NI43-101 resource estimate. The long section is a vertical slice representing only the ~55° south dipping Lower Zone of Kaukua South. Intercepts are represented in both width (meters) and grade (Pd_Eq*) as well as gram*meters (grade*width).

Figure 3. Eastern portion of Kaukua South, showing results for holes LK21-083 through 087.

Table 1. LK Project Kaukua South Drill Hole Results

* Pd_Eq calculated using prices from the 2021 NI43-101 Haukiaho Mineral Resource Estimate; $1,600/oz Pd, $1,100/oz Pt, $1,650/oz Au, $3.50 Cu, and $7.50 Ni
** Spot Au_Eq and Cu_Eq is calculated for comparison only, using recent prices, $1,850/oz Pd, $950/oz Pt, $1750/oz Au, $4.2/lb Cu, and $8.20/lb Ni, and $24/lb cobalt.
Grey Italicised results are previously released (see press release October 22, 2020).

Palladium Equivalent
Revised price assumptions – The Company is now calculating Palladium equivalent using US$1,600 per ounce for palladium, US$1,100 per ounce for platinum, US$1,650 per ounce for gold, US$3.50 per pound for copper, and US$7.50 per pound for nickel consistent with the calculation used in the Company’s September 2021 NI 43-101 Haukiaho Resource Estimate.

Spot Gold Equivalent
Spot palladium and gold equivalents are calculated using recent spot prices for comparison purposes using US$1,850 per ounce for palladium, US$950 per ounce for platinum, US$1,750 per ounce for gold, US$4.2 per pound for copper, and US$8.2 per pound for nickel.

Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43-101

About Palladium One
Palladium One Mining Inc. is an exploration company targeting district scale, platinum-group-element (PGE)-copper nickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK Project, a palladium dominant platinum group element-copper-nickel project in north-central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 kilometers of favorable basal contact and building on an established NI 43-101 open pit Mineral Resource.

ON BEHALF OF THE BOARD
“Derrick Weyrauch”
President & CEO, Director

For further information contact: Derrick Weyrauch, President & CEO
Email: info@palladiumoneinc.com

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

This press release includes “forward-looking information” that is subject to a few assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company’s common shares on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions and general business conditions. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company’s annual information form dated April 27, 2021 and filed under the Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

Bunker Hill Announces Exploration JV With Minewater On London Mining Gold District In Colorado

 

HIGHLIGHTS :

• Bunker Hill secures exclusive option to earn 50% in a joint venture with MineWater Finance LLC to explore the prospective gold-focused London Mining District in Colorado for US$3 million of exploration within four years
• District includes the London Mine which produced >650,000 gold ounces at an average grade of 23 g/t gold from 1875-1942 before being shut down by emergency wartime legislation; also contains other closed mine sites
• JV has exclusive rights to >3,000 acres of patented claim ground, containing intact underground access to known mineralization, >220koz of historic reserves (non-NI 43-101 compliant), significant further exploration prospects
• Transaction expected to close, subject to final due diligence and documentation, by the end of the year
• Executive Chairman Richard Williams, CEO Sam Ash and CFO David Wiens to host live interactive 6ix virtual investor event on Wednesday, October 6th at 11:00AM ET / 8:00AM PT. Investors are invited to register for this event at: [LINK]
  

TORONTO, Oct. 04, 2021 (GLOBE NEWSWIRE) — Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR, OTCQB: BHLL) is pleased to announce its intention to enter into a joint venture with MineWater Finance LLC (“MineWater”) to explore the mineral potential of the London gold mine, and the surrounding district, in Colorado, USA. London Mining District produced gold and silver from 1875 to 1942, including over 650,000 gold ounces from the London Mine.

Sam Ash, CEO of Bunker Hill Mining, stated: “We are delighted to announce this partnership with MineWater to explore the prospective London Mining District in Colorado. This aligns with our strategy to grow the value of our company via the regeneration of closed and undervalued precious metals assets in North America in ways that leverage advanced mining, governance and sustainability practices. This partnership combines Bunker Hill’s mining expertise with MineWater’s superb track record of environmental remediation and stewardship, which is key to sustainably revitalizing historic mining districts. While our near-term focus and capital allocation priority continues to be the rapid restart of the Bunker Hill Mine, and its subsequent organic development, we are very excited to add this new option to our North American value-creation pipeline.”

TRANSACTION OVERVIEW AND BACKGROUND

The Company has signed a term sheet to enter into a joint venture with MineWater, the current owner of the London Mine and associated land package totaling over 3,000 acres of patented ground. Under the terms of the agreement, the Company has the option to invest up to US$3 million over a four-year period to earn a 50% ownership position in the joint venture. Upon completion of the definitive agreement, a Board of Directors will be formed to govern the joint venture, to be comprised of 3 members to be appointed by the Company, and 2 members to be appointed by MineWater.

MineWater acquired the surface, mineral and water rights to the London Mining District in 2016 in exchange for performing environmental remediation of the site that improved water quality to meet regulatory requirements. By 2017, the State of Colorado declared the remediation work successful.

MineWater LLC, the sister company of MineWater Finance LLC, performed the environmental remediation work at the London Mine, where it has also developed water resources subsequently purchased by the City of Aurora. Remediation, coupled with dewatering of the London Mine, has been highly beneficial to the environmental status of Mosquito Creek as shown by the EPA (NPDES) publicly available database. MineWater LLC was founded in 2016 by Joseph Harrington, who has been awarded 6 US patents for environmental technologies to address in situ metals immobilization in underground mines, pit lakes and groundwater impacted by mining. Using these patents and other technologies, MineWater LLC solves water issues related to mine sites, particularly arising from the mobility of dissolved heavy metals. Prior to their work at London Mine, the principals of MineWater LLC successfully remediated the Globe Smelter Superfund Site in Denver, Colorado. MineWater has also developed water treatment plants for emergency response programs at the Gold King Mine and the Captain Jack Mill/Big 5 Mines Complex, both US EPA Superfund Sites in Colorado, USA, and is currently designing the in-mine water treatment system at the Bunker Hill Mine.

The agreement remains subject to final definitive documentation and due diligence and is expected to close by the end of 2021.

LONDON MINE AND DISTRICT OVERVIEW

Located approximately 70 miles southwest of Denver, Colorado in Park County, the London Mine lies at an elevation of 11,000’ up south Mosquito Creek from the town of Alma. The London Mine sits in the heart of the Colorado Mineral Belt, the prolific lineament stretching NE to SW across the state and is directly adjacent to the historic Leadville mining district. The Climax molybdenum mine is located just 5 miles north of the London mine workings and many of the same district scale structural features can be traced between the properties.

Figure 1: Satellite image showing close proximity of London Mining District to the Leadville and Climax Mining Districts

The London mine had been in full production from 1875 to 1942, producing over 650,000 gold ounces from more than 3km of strike length on multiple gold-quartz vein structures. Production ceased due to metals prices and government production restrictions related to the War Powers Act. Small-scale mining operations continued after the cessation of WWII through the end of the 1970’s and exploration activities were undertaken through 1991, when the exploration agreement on the property was finally dropped by Lessees.

Exploration interest during the 1980’s saw numerous groups operating programs across the district and their work laid the basis for developing a historic reserve (non-NI 43-101 compliant) estimate on the Property of roughly 120koz Au as Proven and Probable Reserves with an additional 101koz Au as Possible Reserves in 1987 by Cobb Resources and Chrome Corp (operating as the London Mine Joint Venture), a former Lessee (the “1987 reserves”). All majority of the 1987 reserves are contained within the historic London Mine footprint and are potentially accessible from existing development.

The Company believes the 1987 reserve estimate reflects mineralization across the land package associated with the joint venture. The 1987 reserve estimate is historic in nature and does not reflect the classification standards associated with NI 43-101. The Company also notes that a qualified person has not done sufficient work to classify the historical estimate as current mineral reserves under NI 43-101, and the Company is not treating the historical estimate as such. Confirmatory geologic drilling and sampling are required to verify the mineralization contained within the historical reserve estimate as an NI 43-101 compliant mineral resource.

Through the investigation of historical exploration and production reports, the Company has identified 3 main zones to target with future exploration. From north to south, these are the Ag-Pb-Zn-Cu (Base-Metal Sulphide) Replacement area, West London exploration area and the South Butte veins. Each of the 3 zones represent different styles of mineralization and warrant separate exploration methodologies. The shallow nature of the northern base-metal sulphide replacement zone and the Au breccias of the West London area allow for surface drill operations and are deposit styles with previously proven geophysical responses in the District.   MineWater is planning for separate tunnel development efforts over the next 2 years targeting the West London Zone for synergistic mineral and water resource development. This planned effort will save the JV costs and place underground workings directly beneath historic high grade gold mineralized intercepts.

Figure 2: Map showing the London Mine land package and identified exploration target areas.

The South Butte area is a direct extension of known vein structures from the Butte Mine. Results from a 1988 exploration mapping and drilling program proved the down-plunge extension of Au mineralization beyond historic workings which remains open both along strike, over 7,000’ of patented ground to the south, and also at depth. The relatively recent rehabilitation work on historic development will allow for rapid re-entry to the area and continuation of exploration drilling.

Figure 3: Section view through the London Mine showing depth profile and location of identified exploration zones relative to historic development.

Similar to work already completed at the Bunker Hill Mine, the next steps will be to compile and geo-reference historic data on the property into 3D space. Modeling historic workings and drill data related to the London Mine across the district will allow for more detailed exploration drill planning and remote sensing program assignments to be ready for future field seasons.

QUALIFIED PERSON

Mr. Scott E. Wilson, CPG, President of Resource Development Associates Inc. and a consultant to the Company, is an Independent “Qualified Person” as defined by NI 43-101 and is acting at the Qualified Person for the Company. He has reviewed and approved the technical information summarized in this news release.

UPCOMING EVENTS

Natural Resources Forum ESG Week

ESG Panel: What It Takes To Get It Right?

October 5, 2021 @ 9:30am ET

Join Us: REGISTER NOW

6ix Investor Event

October 6, 2021 at 11:00am ET / 8:00am PT

Join Us: [LINK]

ABOUT BUNKER HILL MINING CORP.

Under new Idaho-based leadership the Bunker Hill Mining Corp, intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating a portfolio of North American precious-metal assets with a focus on silver. Information about the Company is available on its website, www.bunkerhillmining.com, or within the SEDAR and EDGAR databases.

For additional information contact:

David Wiens, CFA

CFO & Corporate Secretary

+1 208 370 3665

ir@bunkerhillmining.com

CAUTIONARY STATEMENTS

Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, as well as within the meaning of the phrase ‘forward-looking information’ in the Canadian Securities Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s intentions regarding its objectives, goals or future plans and statements, the Company’s ability to restart and develop the Bunker Hill Mine, the Company’s ability to purchase the Land, the Land’s use as security for the Loan, the finalization of the data from the geophysics survey, the utility of the data from the geophysics survey to identify potential near-surface drill targets, the ability for the Company to secure longer-term, non-dilutive financing. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: the ability 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; failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; changes in equity markets; uncertainties relating to the availability and costs of financing needed in the future; the inability of the Company to budget and manage its liquidity in light of the failure to obtain additional financing, including the ability of the Company to complete the payments pursuant to the terms of the agreement to acquire the Bunker Hill Mine Complex; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Comstock to Present at LD Micro Main Event

 

VIRGINIA CITY, Nev., Oct. 05, 2021 (GLOBE NEWSWIRE) — Comstock Mining Inc. (NYSE: LODE) (“Comstock” or the “Company”) announced today that its Executive Chairman and CEO, Corrado De Gasperis, is presenting at the LD Micro Main Event in Los Angeles on Wednesday, October 13, 2021, at 12:00 p.m. PDT.

“We are very much looking forward to the first live conference in almost two years. Our recent acquisitions have transformed our portfolio to meet the escalating demand for increasingly scarce natural resources, including the strategic resources needed to fuel the worldwide surge in, and transition to, clean energy and carbon-neutrality,” said Corrado De Gasperis, Comstock’s Executive Chairman and Chief Executive Officer. “We have eliminated our debt, tripled our assets and positioned a ready portfolio of clean technologies, and a highly experienced, expanded management team with the capacity for exponential growth and extraordinary financial, natural, and social impacts.”

Presentation details: 

Date: Wednesday, October 13, 2021

Time: 12:00 p.m. PDT to 12:30 p.m. PDT

Register to watch the virtual presentation here.

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 energy, carbon-neutrality, and natural products. To learn more, please visit www.comstockmining.com.

About LD Micro (NASDAQ: SRAX)

LD Micro aims to be the most crucial resource in the micro-cap world. Whether it is the index, comprehensive data, or hosting the most significant events on an annual basis, LD’s sole mission is to serve as an invaluable asset for all those interested in finding the next generation of great companies. http://www.ldmicro.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: 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 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: 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 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.