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


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

Hole From
(m)
To
(m)
Width
(m)
Pd_Eq
g/t*
Spot
Cu_Eq
g/t**
Spot
Au_Eq
g/t**
Pd
g/t
Pt
g/t
Au
g/t
Cu
%
Ni
%
Co
ppm
LK21-083 Upper Zone 92.0 106.5 14.5 1.11 0.68 1.12 0.19 0.05 0.07 0.12 0.17 108
Lower Zone 191.0 206.5 15.5 0.92 0.56 0.93 0.34 0.12 0.04 0.08 0.09 68
Inc. 191.0 197.0 6.0 1.69 1.04 1.71 0.79 0.26 0.09 0.13 0.11 72
Inc. 191.8 192.7 0.9 3.89 2.39 3.93 1.81 0.65 0.16 0.31 0.28 135
LK21-084 Upper Zone 78.5 98.0 19.5 0.71 0.44 0.72 0.10 0.03 0.04 0.07 0.11 86
Inc. 78.5 87.5 9.0 0.98 0.60 0.98 0.15 0.04 0.06 0.09 0.16 111
Lower 142.5 148.5 6.0 0.80 0.49 0.81 0.18 0.09 0.04 0.09 0.10 75
LK21-085 Upper Zone 114.7 116.1 1.4 2.37 1.49 2.44 0.00 0.00 0.01 0.71 0.29 424
LK21-086 Upper Zone 79.5 99.0 19.5 1.06 0.65 1.07 0.19 0.04 0.07 0.14 0.15 98
Inc 81.0 88.7 7.7 1.43 0.88 1.44 0.29 0.07 0.09 0.16 0.20 128
lower Zone 172.0 176.0 4.0 0.76 0.46 0.76 0.33 0.15 0.02 0.04 0.06 59
LK21-087 Upper Zone 70.0 121.0 51.0 1.02 0.63 1.04 0.16 0.04 0.06 0.13 0.15 103
Inc 78.0 82.5 4.5 1.56 0.97 1.59 0.32 0.05 0.09 0.20 0.22 135
Lower Zone 230.0 248.0 18.0 0.53 0.33 0.54 0.13 0.05 0.02 0.06 0.07 50
Inc. 230.0 232.0 2.0 1.30 0.79 1.30 0.40 0.18 0.04 0.11 0.15 95
LK21-088 Upper Zone 18.9 84.0 65.1 0.58 0.36 0.59 0.09 0.02 0.04 0.07 0.09 69
Inc. 18.9 42.0 23.1 0.73 0.45 0.74 0.11 0.04 0.05 0.07 0.11 86
Lower Zone 119.5 168.0 48.5 2.36 1.45 2.39 1.21 0.41 0.10 0.17 0.14 76
Inc. 122.2 143.5 21.3 3.12 1.92 3.15 1.57 0.51 0.15 0.23 0.19 99
Inc. 142.0 143.5 1.5 5.63 3.46 5.70 3.23 1.06 0.27 0.37 0.24 91

* 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.

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


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.

Release – Comstock to Present at LD Micro Main Event


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.

Contact information:    
Comstock Mining Inc.
P.O. Box 1118
Virginia City, NV 89440
ComstockMining.com
Corrado De Gasperis
Executive Chairman & CEO
Tel (775) 847-4755
degasperis@comstockmining.com
Zach Spencer
Director of External Relations
Tel (775) 847-5272 Ext.151
questions@comstockmining.com

Comstock to Present at LD Micro Main Event


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.

Contact information:    
Comstock Mining Inc.
P.O. Box 1118
Virginia City, NV 89440
ComstockMining.com
Corrado De Gasperis
Executive Chairman & CEO
Tel (775) 847-4755
degasperis@comstockmining.com
Zach Spencer
Director of External Relations
Tel (775) 847-5272 Ext.151
questions@comstockmining.com

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


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.

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


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

Hole From
(m)
To
(m)
Width
(m)
Pd_Eq
g/t*
Spot
Cu_Eq
g/t**
Spot
Au_Eq
g/t**
Pd
g/t
Pt
g/t
Au
g/t
Cu
%
Ni
%
Co
ppm
LK21-083 Upper Zone 92.0 106.5 14.5 1.11 0.68 1.12 0.19 0.05 0.07 0.12 0.17 108
Lower Zone 191.0 206.5 15.5 0.92 0.56 0.93 0.34 0.12 0.04 0.08 0.09 68
Inc. 191.0 197.0 6.0 1.69 1.04 1.71 0.79 0.26 0.09 0.13 0.11 72
Inc. 191.8 192.7 0.9 3.89 2.39 3.93 1.81 0.65 0.16 0.31 0.28 135
LK21-084 Upper Zone 78.5 98.0 19.5 0.71 0.44 0.72 0.10 0.03 0.04 0.07 0.11 86
Inc. 78.5 87.5 9.0 0.98 0.60 0.98 0.15 0.04 0.06 0.09 0.16 111
Lower 142.5 148.5 6.0 0.80 0.49 0.81 0.18 0.09 0.04 0.09 0.10 75
LK21-085 Upper Zone 114.7 116.1 1.4 2.37 1.49 2.44 0.00 0.00 0.01 0.71 0.29 424
LK21-086 Upper Zone 79.5 99.0 19.5 1.06 0.65 1.07 0.19 0.04 0.07 0.14 0.15 98
Inc 81.0 88.7 7.7 1.43 0.88 1.44 0.29 0.07 0.09 0.16 0.20 128
lower Zone 172.0 176.0 4.0 0.76 0.46 0.76 0.33 0.15 0.02 0.04 0.06 59
LK21-087 Upper Zone 70.0 121.0 51.0 1.02 0.63 1.04 0.16 0.04 0.06 0.13 0.15 103
Inc 78.0 82.5 4.5 1.56 0.97 1.59 0.32 0.05 0.09 0.20 0.22 135
Lower Zone 230.0 248.0 18.0 0.53 0.33 0.54 0.13 0.05 0.02 0.06 0.07 50
Inc. 230.0 232.0 2.0 1.30 0.79 1.30 0.40 0.18 0.04 0.11 0.15 95
LK21-088 Upper Zone 18.9 84.0 65.1 0.58 0.36 0.59 0.09 0.02 0.04 0.07 0.09 69
Inc. 18.9 42.0 23.1 0.73 0.45 0.74 0.11 0.04 0.05 0.07 0.11 86
Lower Zone 119.5 168.0 48.5 2.36 1.45 2.39 1.21 0.41 0.10 0.17 0.14 76
Inc. 122.2 143.5 21.3 3.12 1.92 3.15 1.57 0.51 0.15 0.23 0.19 99
Inc. 142.0 143.5 1.5 5.63 3.46 5.70 3.23 1.06 0.27 0.37 0.24 91

* 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.

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


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.

Great Bear Resources (GTBAF)(GBR:CA) – Latest Results Establish Continuity of High-Grade Mineralization at Depth

Tuesday, October 05, 2021

Great Bear Resources (GTBAF)(GBR:CA)
Latest Results Establish Continuity of High-Grade Mineralization at Depth

Noble Capital Markets research on Great Bear Resources is published under ticker symbols GTBAF and GBR:CA. The price target is in USD and based on ticker symbol GTBAF. Great Bear Resources Ltd is a gold exploration company. It explores for mineral properties in the Red Lake District in Ontario, Canada. Its property portfolio includes Great Bear’s Red Lake Properties with the flagship Dixie project, Pakwash property, and Sobel property.

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.

    Meaningful drill results. Great Bear released results for 42 drill holes, of which 7 are representative of deeper LP Fault mineralization along 1.4 kilometers of strike length at a depth between 450-and-750 meters. Included were results for 17 shallow drill holes along 3.6 kilometers of strike length targeting lower grade bulk tonnage mineralization that surrounds high-grade gold domains. To date, Great Bear has reported 446 LP Fault drill holes and completed 300,000 meters of drilling at the Dixie property.

    Doubling down at the LP Fault.  The new drill results established continuity of both high-grade and bulk tonnage style gold over a broad area at depth with the same pattern of high-grade domains surrounded by lower grade envelopes as observed from Phase 1 drilling results conducted to a depth of 450 meters. Deeper drilling will continue along an additional 2.6 kilometers of strike length during …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Release – Great Bear Drills Deep LP Fault 157.00 gt Gold Over 1.20 m Within 11.01 gt Gold Over 22.85 m from 678.75 m Downhole


Great Bear Drills Deep LP Fault: 157.00 g/t Gold Over 1.20 m Within 11.01 g/t Gold Over 22.85 m from 678.75 m Downhole

 

October 4, 2021 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today reported results from its ongoing fully funded $45 million 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.

Chris Taylor, President and CEO of Great Bear said, “Our systematic deep drilling of the LP Fault along 1.4 kilometres of strike length has successfully intersected the target geology with gold mineralization in all areas.  These results establish significant continuity of both high-grade and bulk tonnage style gold over a broad area at depth, which remains open to extension in all directions.  The LP Fault has no geological analogs in the Red Lake district, with the closest being the Hemlo gold deposit located near Marathon, Ontario.”

Deep LP Fault Drilling

Seven new drill holes are representative of deeper LP Fault mineralization across a broad area of 1.4 kilometres of strike length between approximately 450 and 750 metres downhole depth.  Deeper drilling will continue along an additional 2.6 kilometres of strike length during the ongoing Phase 2 program.

The same pattern of high-grade domains surrounded by lower grade envelopes are observed as had previously been drilled at shallower depths.  Results are provided in Table 1.

Highlights include:

  • These new drill holes are not infill drilling, and significantly extend gold mineralization to depth on their respective drill sections.  Figure 1Figure 2Figure 3 and Figure 4.
  • New drill hole BR-385 intersected multiple high-grade gold domains, including 157.00 g/t gold over 1.20 metres from 696.45 to 697.65 metres downhole, within a broader interval of 41.76 g/t gold over 5.15 metres from 696.45 to 701.60 metres.
    • The total mineralized interval using the same calculation criteria applied to the shallow LP Fault zone since its discovery (i.e. composite intervals cannot include more than 3 metres assaying less than 0.10 g/t gold) is 6.90 g/t gold over 36.95 metres from 673.25 to 710.20 metres downhole.
    • However, given the greater depths explored by these drill holes, a more relevant interval that excludes peripheral bulk tonnage style gold mineralization and may be more representative of any future potential underground development scenarios is 11.01 g/t gold over 22.85 metres from 678.75 to 701.60 metres downhole.
  • New drill hole BR-386 intersected 16.92 g/t gold over 4.90 metres from 525.00 to 529.90 metres downhole, within a broader interval of 2.21 g/t gold over 49.55 metres from 522.45 to 572.00 metres downhole.
  • New drill hole BR-411 intersected 13.84 g/t gold over 3.15 metres from 459.15 to 462.30 metres downhole.
    • BR-411 is significant as it intersects high-grade gold below the “Gap” area of the LP Fault, and is over 500 metres above the deepest LP Fault intercept to-date in previously reported drill hole BR-260 (March 29, 2021) which assayed 15.57 g/t gold over 3.05 metres from 942.20 to 945.25 metres downhole.  More drilling is required to determine if both intercepts occur along a controlling plunge within the same high-grade gold domain.
  • New drill hole BR-384 intersected multiple mineralized intervals including 50.50 g/t gold over 1.00 metre from 587.50 to 588.50 metres downhole, and 6.71 g/t gold over 6.30 metres from 687.50 to 693.80 metres downhole.  The total mineralized interval was 3.97 g/t gold over 17.50 metres from 687.50 to 705.00 metres downhole.

Shallow Drill Results

Seventeen additional drill holes intersected the shallow LP Fault along 3.6 kilometres of strike length.  Most of these targeted the bulk tonnage style envelope adjacent to higher-grade domains for resource delineation purposes.  Maiden mineral resource estimate disclosure is planned for Q1 of 2022.

Highlights include:

  • Eastern LP Fault (Viggo area) drill hole BR-379 intersected 1.84 g/t gold over 28.05 metres from 101.35 to 129.40 metres downhole.  This included high-grade intervals of 15.90 g/t gold over 1.00 metre from 101.35 to 102.35 metres downhole and 28.70 g/t gold over 0.50 metres from 123.50 to 124.00 metres downhole.
    • This drill hole is significant as it adds bulk tonnage style gold mineralization at shallow depths to this area.  A steeply plunging area of stronger gold mineralization is currently being defined here (see news release of August 25, 2021).
  • Drill holes characterizing additional shallow bulk tonnage style mineralization are summarized in Table 2 and include:
    • BR-425 which intersected 1.09 g/t gold over 80.55 metres from 62.50 to 142.75 metres downhole,
    • BR-441 which intersected 1.08 g/t gold over 30.25 metres from 13.00 to 43.25 metres downhole, and
    • BR-443 which intersected 0.55 g/t gold over 66.20 metres from 38.50 to 104.70 metres downhole.

An additional 16 shallow drill holes were collared outside the LP Fault zone and targeted areas up to 200 metres away from the zone which may be incorporated into any future mineral resource estimation or infrastructure development planning.  All holes intersected anomalous to low-grade gold mineralization.  The most significant intercepts were 0.52 g/t gold over 20.00 metres from 56.50 to 76.50 metres downhole in drill hole BR-435, and 0.55 g/t gold over 26.25 metres from 10.85 to 37.10 metres downhole in drill hole BR-444.   Results from this drilling are included in a separate table on the Company’s web site at www.greatbearresources.ca.

Ongoing Phase 2 LP Fault Expansion Drilling and Upcoming Reports

  • With the 42 new drill holes contained in this release, Great Bear has reported 446 LP Fault drill holes.  Including in-progress drill holes, Great Bear has completed 300,000 metres of drilling at the Dixie property to-date.
  • Phase 1 drilling consisted of 440 LP Fault drill holes and was completed in July 2021.  The program was designed to support mineral resource estimation along approximately 4 kilometres of strike length to a depth of approximately 450 metres.
  • Phase 2 drilling is designed to expand LP Fault gold mineralization between approximately 450 and 900 metres depth over approximately 4 kilometres of strike length.
  • Great Bear will continue Phase 2 expansion drilling with the goal of significantly expanding the drill confirmed extent of gold mineralization at the LP Fault by late 2022.
  • Other Phase 2 drilling will include regional drilling of new targets, and mineral resource definition and expansion drilling of the Dixie Limb and Hinge zones.  The Company is fully funded for this work.

In addition to regular releases detailing Phase 2 drill results, deliverables for 2022 are expected to include: 1) a maiden mineral resource estimate in accordance with NI 43-101 of the LP Fault zone Phase 1 drilling, 2) a Preliminary Economic Assessment (“PEA”) of the LP Fault zone, and 3) a mineral resource update which will include deeper drill results from the LP Fault, plus maiden mineral resource estimates for the Dixie Limb and Hinge zones.  Further details will be provided as results continue to be received and processed.

Table 1: New deep LP Fault drill results along 1.4 kilometres of strike length.

Drill Hole

 

From (m)

To (m)

Width* (m)

Gold (g/t)

Section

BR-411

 

34.50

41.30

6.80

0.30

21325

 

and

152.50

155.50

3.00

1.98

 

 

and

184.00

221.60

37.60

0.34

 

 

and

238.75

263.35

24.60

0.59

 

 

and

454.60

466.50

11.90

3.98

 

 

and including

459.15

462.30

3.15

13.84

 

BR-386

 

435.20

437.20

2.00

5.93

20875

 

and

502.75

516.00

13.25

1.46

 

 

and

522.45

572.00

49.55

2.21

 

 

including

525.00

529.90

4.90

16.92

 

 

and

648.30

651.15

2.85

3.13

 

BR-385

 

598.40

620.70

22.30

1.06

20800

 

and including

605.80

606.70

0.90

9.79

 

 

and

673.25

710.20

36.95

6.90

 

 

including

678.75

701.60

22.85

11.01

 

 

and including

696.45

701.60

5.15

41.76

 

 

and including

696.45

697.65

1.20

157.00

 

 

and including

700.60

701.60

1.00

25.00

 

BR-384

 

583.00

594.10

11.10

4.74

20750

 

including

587.50

588.50

1.00

50.50

 

 

and

602.00

637.00

35.00

0.33

 

 

and

653.35

716.00

62.65

1.42

 

 

including

687.50

705.00

17.50

3.97

 

 

and including

687.50

693.80

6.30

6.71

 

 

and including

702.55

705.00

2.45

6.42

 

BR-383

 

392.60

424.30

31.70

0.35

20750

 

including

418.80

420.10

1.30

4.26

 

 

and

509.45

526.00

16.55

1.47

 

 

including

509.45

510.35

0.90

14.30

 

 

and including

525.00

526.00

1.00

9.34

 

BR-280

 

675.00

685.20

10.20

0.34

20125

 

and

741.20

755.40

14.20

0.22

 

 

 

849.85

851.15

1.30

1.98

 

BR-419

 

603.00

644.60

41.60

0.59

20075

 

including

634.55

635.20

0.65

8.99

 

 

and

654.00

656.70

2.70

9.59

 

 

including

654.65

655.30

0.65

32.00

 

BR-430

 

538.85

557.75

18.90

1.49

19975

 

including

550.00

554.00

4.00

5.09

 

 

and

585.00

590.00

5.00

2.33

 

*Represents core length. True mineralization widths range between 65- 95% of reported intervals as they are determined by both structural analyses obtained from oriented drill core data and orientations of individual high grade domains and bulk tonnage domains.  Mineralized domains vary in strike between 340 to 270 degrees and dip between 85 to 65 degrees to the north.  All drillholes intersect both high grade and bulk tonnage domains and often intersect multiple domains resulting in a range of true widths within the same drillhole.

Table 2: Shallow drill results along 3.6 kilometres of strike length targeting the bulk tonnage mineralized envelope that surrounds the high-grade gold domains.

Drill Hole

 

From (m)

To (m)

Width* (m)

Gold (g/t)

Section

BR-424

 

278.15

286.00

7.85

0.58

22675

 

including

279.80

280.20

0.40

6.80

 

BR-442

 

31.00

32.00

1.00

6.89

22350

 

and

51.70

85.65

33.95

0.40

 

BR-443

 

38.50

104.70

66.20

0.55

22300

 

including

69.90

85.85

15.95

1.18

 

BR-421

 

385.50

456.85

71.35

0.68

22275

 

including

420.00

431.50

11.50

1.82

 

 

and including

422.30

425.55

3.25

3.36

 

BR-440

 

71.00

95.80

24.80

0.72

22225

 

including

82.30

91.30

9.00

1.50

 

 

and including

88.30

91.30

3.00

3.06

 

BR-422

 

60.00

61.10

1.10

7.12

22225

 

and

310.40

323.60

13.20

0.60

 

BR-423

 

199.90

222.30

22.40

0.54

22225

BR-441

 

12.25

55.40

43.15

0.86

22175

 

including

13.00

43.25

30.25

1.08

 

 

and including

22.00

33.00

11.00

2.22

 

 

and including

29.00

33.00

4.00

4.19

 

BR-412

 

119.20

121.10

1.90

3.65

21375

 

including

120.10

121.10

1.00

6.07

 

BR-417

 

49.00

82.95

33.95

0.31

21225

BR-433

 

53.60

88.00

34.40

0.34

21125

 

including

75.50

87.00

11.50

0.55

 

 

and

168.90

206.30

37.40

0.42

 

 

including

175.95

185.35

9.40

1.01

 

BR-432

 

51.10

76.00

24.90

0.34

21125

 

and

108.40

116.90

8.50

1.13

 

BR-431

 

25.05

75.00

49.95

0.33

21125

 

including

54.20

70.85

16.65

0.52

 

BR-425

 

62.20

142.75

80.55

1.09

20525

 

including

70.15

78.70

8.55

5.86

 

BR-323

 

154.80

163.00

8.20

0.31

20225

 

 

176.80

197.40

20.60

0.33

 

 

including

176.80

178.60

1.80

1.84

 

BR-378

 

172.50

182.00

9.50

0.46

18875

 

including

191.00

192.00

1.00

2.02

 

BR-379

 

83.20

86.20

3.00

0.73

18725

 

and

101.35

129.40

28.05

1.84

 

 

including

101.35

124.00

22.65

2.22

 

 

and including

101.35

111.30

9.95

2.92

 

 

including

101.35

102.35

1.00

15.90

 

 

and

123.50

124.00

0.50

28.70

 

*Represents core length. True mineralization widths range between 65- 95% of reported intervals as they are determined by both structural analyses obtained from oriented drill core data and orientations of individual high grade domains and bulk tonnage domains.  Mineralized domains vary in strike between 340 to 270 degrees and dip between 85 to 65 degrees to the north.  All drillholes intersect both high grade and bulk tonnage domains and often intersect multiple domains resulting in a range of true widths within the same drillhole.

 

Figure 1: LP Fault long section showing only high-grade gold domain intercepts.  Gold intercepts from the surrounding bulk tonnage style domains have been removed for clarity.  New drill results inside of the high-grade domains are highlighted.

Figure 2: Cross section 20900 including new deep drill results. Images are of selected core intervals and do not represent all gold mineralization on the property.

Figure 3: Cross section 20825 including new deep drill results. Images are of selected core intervals and do not represent all gold mineralization on the property.

Figure 4: Cross section 20775 including new deep drill results. Images are of selected core intervals and do not represent all gold mineralization on the property.

All LP Fault drill hole highlighted assays, plus drill collar locations and orientations can be downloaded at the Company’s web site.

Drill collar location, azimuth and dip for drill holes targeting the LP Fault zone included in this release are provided in the table below (UTM zone 15N, NAD 83):

Drill Hole

Easting

Northing

Elevation

Length

Dip

Azimuth

BR-280

457638

5634448

373

1053

-60

213

BR-323

457356

5634144

355

309

-44

203

BR-378

458589

5633576

360

350

-55

213

BR-379

458686

5633455

365

270

-55

212

BR-383

456650

5633873

358

594

-44

25

BR-384

456650

5633873

358

822

-55

27

BR-385

456564

5633897

359

756

-53

26

BR-386

456529

5633987

363

765

-57

28

BR-411

456221

5634368

365

501

-46

37

BR-412

456231

5634453

362

450

-47

37

BR-417

456423

5634421

359

234

-54

210

BR-419

457689

5634363

369

790

-59

207

BR-421

455733

5635325

377

570

-58

226

BR-422

455481

5635448

386

429

-58

225

BR-423

455430

5635385

386

381

-58

224

BR-424

455349

5635498

389

364

-56

224

BR-425

456908

5633934

357

300

-54

210

BR-430

457779

5634318

364

810

-60

207

BR-431

456467

5634343

359

207

-55

211

BR-432

456492

5634391

358

231

-56

214

BR-433

456517

5634430

358

282

-55

214

BR-440

455561

5635012

376

201

-61

227

BR-441

455635

5635011

376

273

-60

228

BR-442

455507

5635173

379

222

-56

228

BR-443

455549

5635146

378

261

-61

228

About the Dixie Project

The 100% owned flagship Dixie project boasts one of the largest recent gold discoveries in a Canadian mining jurisdiction.  Proximal to major infrastructure near the town of Red Lake, Ontario, the Dixie property comprises over 91.4 square kilometres of contiguous claims that extend over 22 kilometres with a paved highway and provincial power and natural gas lines.  The property also hosts a network of well-maintained logging roads which facilitate access.

The 23 high-grade domains discussed in this release are structurally and geologically distinctive from the surrounding lower grade, bulk tonnage style gold mineralization.  Together, they span a strike length of 4.2 kilometres and occur within larger stratigraphically controlled lower grade domains.  They are characterized by high degrees of strain and/or transposed quartz vein zones following two distinct structural fabrics and  transition from upper greenschist to lower amphibolite facies metamorphism.  Gold in the high-grade domains is generally observed as free gold, is often transposed into, and overgrows the dominant structural fabrics, and is higher-grade on average than the surrounding bulk tonnage gold zones.

To date, Great Bear has completed a total of 672 drill holes, identifying three high-grade gold discoveries.  The most significant discovery is the large-scale “LP Fault” zone, which comprises high-grade disseminated gold mineralization within broad moderate-to-lower-grade envelopes in felsic volcanic and sediment units.  LP Fault drilling has identified gold mineralization along 11 kilometres of strike length to date, and a detailed drill grid is being completed along approximately 4 kilometres of strike length.  The nearby “Hinge” and “Limb” gold zones are more characteristic of the renowned Red Lake mined deposits, comprising gold-bearing quartz veins and silica-sulphide replacement zones hosted by mafic volcanic units.  Over 80% of the Company’s drill holes into the LP Fault, Dixie Limb and Hinge zones contain visible gold mineralization.  Gold occurs mainly as free gold, neither bound to nor within sulphide minerals.

Great Bear adheres to industry-leading quality assurance / quality control (QA/QC) practices in data collection, analysis and disclosure, and detailed assays including all historical LP Fault drill hole data are available on the Company’s website at https://greatbearresources.ca/projects/overview/dixie-project-data/.

About Great Bear

Great Bear Resources Ltd. is a Vancouver-based gold exploration company focused on advancing its 100% owned Dixie project in Northwestern Ontario, Canada.  A significant exploration drill program is currently underway to define the mineralization within a large-scale, high-grade disseminated gold discovery made in 2019, the LP Fault.  Additional exploration drilling is also in progress to expand and infill nearby high-grade gold zones, as well as to test new regional targets.  The Company is currently in the process of compiling all historical data together with incoming assay results, with the goal of publishing an initial NI 43-101 compliant multi-million ounce mineral resource estimate for the Dixie project in early 2022. 

Great Bear is a committed partner to all stakeholders, with a long-term vision of sustainable exploration to advance the Dixie project in a manner that demonstrates good stewardship of land, operational excellence and accountability.

QA/QC and Core Sampling Protocols

Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario.  Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories in Ontario, an accredited mineral analysis laboratory, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods.  Pulps from approximately 5% of the gold mineralized samples are submitted for check analysis to a second lab.  Selected samples are also chosen for duplicate assay from the coarse reject of the original sample.  Selected samples with visible gold are also analyzed with a standard 1 kg metallic screen fire assay.  Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program (QAQC).  No QAQC issues were noted with the results reported herein. 

Qualified Person and NI 43-101 Disclosure

Mr. R. Bob Singh, P.Geo, VP Exploration, and Ms. Andrea Diakow P.Geo, VP Projects for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

ON BEHALF OF THE BOARD

“Chris Taylor”

Chris Taylor, President and CEO

Investor Inquiries:
Ms. Jenni Piette,
Director, Sustainability and Stakeholder Relations
Tel: 604-646-8354
info@greatbearresources.ca
www.greatbearresources.ca

Cautionary note regarding forward-looking statements

This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.

Forward-looking information are based on management of the parties’ reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.

Such factors, among other things, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); discrepancies between actual and estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.

Great Bear undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

Great Bear Drills Deep LP Fault: 157.00 g/t Gold Over 1.20 m Within 11.01 g/t Gold Over 22.85 m from 678.75 m Downhole


Great Bear Drills Deep LP Fault: 157.00 g/t Gold Over 1.20 m Within 11.01 g/t Gold Over 22.85 m from 678.75 m Downhole

 

October 4, 2021 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today reported results from its ongoing fully funded $45 million 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.

Chris Taylor, President and CEO of Great Bear said, “Our systematic deep drilling of the LP Fault along 1.4 kilometres of strike length has successfully intersected the target geology with gold mineralization in all areas.  These results establish significant continuity of both high-grade and bulk tonnage style gold over a broad area at depth, which remains open to extension in all directions.  The LP Fault has no geological analogs in the Red Lake district, with the closest being the Hemlo gold deposit located near Marathon, Ontario.”

Deep LP Fault Drilling

Seven new drill holes are representative of deeper LP Fault mineralization across a broad area of 1.4 kilometres of strike length between approximately 450 and 750 metres downhole depth.  Deeper drilling will continue along an additional 2.6 kilometres of strike length during the ongoing Phase 2 program.

The same pattern of high-grade domains surrounded by lower grade envelopes are observed as had previously been drilled at shallower depths.  Results are provided in Table 1.

Highlights include:

  • These new drill holes are not infill drilling, and significantly extend gold mineralization to depth on their respective drill sections.  Figure 1Figure 2Figure 3 and Figure 4.
  • New drill hole BR-385 intersected multiple high-grade gold domains, including 157.00 g/t gold over 1.20 metres from 696.45 to 697.65 metres downhole, within a broader interval of 41.76 g/t gold over 5.15 metres from 696.45 to 701.60 metres.
    • The total mineralized interval using the same calculation criteria applied to the shallow LP Fault zone since its discovery (i.e. composite intervals cannot include more than 3 metres assaying less than 0.10 g/t gold) is 6.90 g/t gold over 36.95 metres from 673.25 to 710.20 metres downhole.
    • However, given the greater depths explored by these drill holes, a more relevant interval that excludes peripheral bulk tonnage style gold mineralization and may be more representative of any future potential underground development scenarios is 11.01 g/t gold over 22.85 metres from 678.75 to 701.60 metres downhole.
  • New drill hole BR-386 intersected 16.92 g/t gold over 4.90 metres from 525.00 to 529.90 metres downhole, within a broader interval of 2.21 g/t gold over 49.55 metres from 522.45 to 572.00 metres downhole.
  • New drill hole BR-411 intersected 13.84 g/t gold over 3.15 metres from 459.15 to 462.30 metres downhole.
    • BR-411 is significant as it intersects high-grade gold below the “Gap” area of the LP Fault, and is over 500 metres above the deepest LP Fault intercept to-date in previously reported drill hole BR-260 (March 29, 2021) which assayed 15.57 g/t gold over 3.05 metres from 942.20 to 945.25 metres downhole.  More drilling is required to determine if both intercepts occur along a controlling plunge within the same high-grade gold domain.
  • New drill hole BR-384 intersected multiple mineralized intervals including 50.50 g/t gold over 1.00 metre from 587.50 to 588.50 metres downhole, and 6.71 g/t gold over 6.30 metres from 687.50 to 693.80 metres downhole.  The total mineralized interval was 3.97 g/t gold over 17.50 metres from 687.50 to 705.00 metres downhole.

Shallow Drill Results

Seventeen additional drill holes intersected the shallow LP Fault along 3.6 kilometres of strike length.  Most of these targeted the bulk tonnage style envelope adjacent to higher-grade domains for resource delineation purposes.  Maiden mineral resource estimate disclosure is planned for Q1 of 2022.

Highlights include:

  • Eastern LP Fault (Viggo area) drill hole BR-379 intersected 1.84 g/t gold over 28.05 metres from 101.35 to 129.40 metres downhole.  This included high-grade intervals of 15.90 g/t gold over 1.00 metre from 101.35 to 102.35 metres downhole and 28.70 g/t gold over 0.50 metres from 123.50 to 124.00 metres downhole.
    • This drill hole is significant as it adds bulk tonnage style gold mineralization at shallow depths to this area.  A steeply plunging area of stronger gold mineralization is currently being defined here (see news release of August 25, 2021).
  • Drill holes characterizing additional shallow bulk tonnage style mineralization are summarized in Table 2 and include:
    • BR-425 which intersected 1.09 g/t gold over 80.55 metres from 62.50 to 142.75 metres downhole,
    • BR-441 which intersected 1.08 g/t gold over 30.25 metres from 13.00 to 43.25 metres downhole, and
    • BR-443 which intersected 0.55 g/t gold over 66.20 metres from 38.50 to 104.70 metres downhole.

An additional 16 shallow drill holes were collared outside the LP Fault zone and targeted areas up to 200 metres away from the zone which may be incorporated into any future mineral resource estimation or infrastructure development planning.  All holes intersected anomalous to low-grade gold mineralization.  The most significant intercepts were 0.52 g/t gold over 20.00 metres from 56.50 to 76.50 metres downhole in drill hole BR-435, and 0.55 g/t gold over 26.25 metres from 10.85 to 37.10 metres downhole in drill hole BR-444.   Results from this drilling are included in a separate table on the Company’s web site at www.greatbearresources.ca.

Ongoing Phase 2 LP Fault Expansion Drilling and Upcoming Reports

  • With the 42 new drill holes contained in this release, Great Bear has reported 446 LP Fault drill holes.  Including in-progress drill holes, Great Bear has completed 300,000 metres of drilling at the Dixie property to-date.
  • Phase 1 drilling consisted of 440 LP Fault drill holes and was completed in July 2021.  The program was designed to support mineral resource estimation along approximately 4 kilometres of strike length to a depth of approximately 450 metres.
  • Phase 2 drilling is designed to expand LP Fault gold mineralization between approximately 450 and 900 metres depth over approximately 4 kilometres of strike length.
  • Great Bear will continue Phase 2 expansion drilling with the goal of significantly expanding the drill confirmed extent of gold mineralization at the LP Fault by late 2022.
  • Other Phase 2 drilling will include regional drilling of new targets, and mineral resource definition and expansion drilling of the Dixie Limb and Hinge zones.  The Company is fully funded for this work.

In addition to regular releases detailing Phase 2 drill results, deliverables for 2022 are expected to include: 1) a maiden mineral resource estimate in accordance with NI 43-101 of the LP Fault zone Phase 1 drilling, 2) a Preliminary Economic Assessment (“PEA”) of the LP Fault zone, and 3) a mineral resource update which will include deeper drill results from the LP Fault, plus maiden mineral resource estimates for the Dixie Limb and Hinge zones.  Further details will be provided as results continue to be received and processed.

Table 1: New deep LP Fault drill results along 1.4 kilometres of strike length.

Drill Hole

 

From (m)

To (m)

Width* (m)

Gold (g/t)

Section

BR-411

 

34.50

41.30

6.80

0.30

21325

 

and

152.50

155.50

3.00

1.98

 

 

and

184.00

221.60

37.60

0.34

 

 

and

238.75

263.35

24.60

0.59

 

 

and

454.60

466.50

11.90

3.98

 

 

and including

459.15

462.30

3.15

13.84

 

BR-386

 

435.20

437.20

2.00

5.93

20875

 

and

502.75

516.00

13.25

1.46

 

 

and

522.45

572.00

49.55

2.21

 

 

including

525.00

529.90

4.90

16.92

 

 

and

648.30

651.15

2.85

3.13

 

BR-385

 

598.40

620.70

22.30

1.06

20800

 

and including

605.80

606.70

0.90

9.79

 

 

and

673.25

710.20

36.95

6.90

 

 

including

678.75

701.60

22.85

11.01

 

 

and including

696.45

701.60

5.15

41.76

 

 

and including

696.45

697.65

1.20

157.00

 

 

and including

700.60

701.60

1.00

25.00

 

BR-384

 

583.00

594.10

11.10

4.74

20750

 

including

587.50

588.50

1.00

50.50

 

 

and

602.00

637.00

35.00

0.33

 

 

and

653.35

716.00

62.65

1.42

 

 

including

687.50

705.00

17.50

3.97

 

 

and including

687.50

693.80

6.30

6.71

 

 

and including

702.55

705.00

2.45

6.42

 

BR-383

 

392.60

424.30

31.70

0.35

20750

 

including

418.80

420.10

1.30

4.26

 

 

and

509.45

526.00

16.55

1.47

 

 

including

509.45

510.35

0.90

14.30

 

 

and including

525.00

526.00

1.00

9.34

 

BR-280

 

675.00

685.20

10.20

0.34

20125

 

and

741.20

755.40

14.20

0.22

 

 

 

849.85

851.15

1.30

1.98

 

BR-419

 

603.00

644.60

41.60

0.59

20075

 

including

634.55

635.20

0.65

8.99

 

 

and

654.00

656.70

2.70

9.59

 

 

including

654.65

655.30

0.65

32.00

 

BR-430

 

538.85

557.75

18.90

1.49

19975

 

including

550.00

554.00

4.00

5.09

 

 

and

585.00

590.00

5.00

2.33

 

*Represents core length. True mineralization widths range between 65- 95% of reported intervals as they are determined by both structural analyses obtained from oriented drill core data and orientations of individual high grade domains and bulk tonnage domains.  Mineralized domains vary in strike between 340 to 270 degrees and dip between 85 to 65 degrees to the north.  All drillholes intersect both high grade and bulk tonnage domains and often intersect multiple domains resulting in a range of true widths within the same drillhole.

Table 2: Shallow drill results along 3.6 kilometres of strike length targeting the bulk tonnage mineralized envelope that surrounds the high-grade gold domains.

Drill Hole

 

From (m)

To (m)

Width* (m)

Gold (g/t)

Section

BR-424

 

278.15

286.00

7.85

0.58

22675

 

including

279.80

280.20

0.40

6.80

 

BR-442

 

31.00

32.00

1.00

6.89

22350

 

and

51.70

85.65

33.95

0.40

 

BR-443

 

38.50

104.70

66.20

0.55

22300

 

including

69.90

85.85

15.95

1.18

 

BR-421

 

385.50

456.85

71.35

0.68

22275

 

including

420.00

431.50

11.50

1.82

 

 

and including

422.30

425.55

3.25

3.36

 

BR-440

 

71.00

95.80

24.80

0.72

22225

 

including

82.30

91.30

9.00

1.50

 

 

and including

88.30

91.30

3.00

3.06

 

BR-422

 

60.00

61.10

1.10

7.12

22225

 

and

310.40

323.60

13.20

0.60

 

BR-423

 

199.90

222.30

22.40

0.54

22225

BR-441

 

12.25

55.40

43.15

0.86

22175

 

including

13.00

43.25

30.25

1.08

 

 

and including

22.00

33.00

11.00

2.22

 

 

and including

29.00

33.00

4.00

4.19

 

BR-412

 

119.20

121.10

1.90

3.65

21375

 

including

120.10

121.10

1.00

6.07

 

BR-417

 

49.00

82.95

33.95

0.31

21225

BR-433

 

53.60

88.00

34.40

0.34

21125

 

including

75.50

87.00

11.50

0.55

 

 

and

168.90

206.30

37.40

0.42

 

 

including

175.95

185.35

9.40

1.01

 

BR-432

 

51.10

76.00

24.90

0.34

21125

 

and

108.40

116.90

8.50

1.13

 

BR-431

 

25.05

75.00

49.95

0.33

21125

 

including

54.20

70.85

16.65

0.52

 

BR-425

 

62.20

142.75

80.55

1.09

20525

 

including

70.15

78.70

8.55

5.86

 

BR-323

 

154.80

163.00

8.20

0.31

20225

 

 

176.80

197.40

20.60

0.33

 

 

including

176.80

178.60

1.80

1.84

 

BR-378

 

172.50

182.00

9.50

0.46

18875

 

including

191.00

192.00

1.00

2.02

 

BR-379

 

83.20

86.20

3.00

0.73

18725

 

and

101.35

129.40

28.05

1.84

 

 

including

101.35

124.00

22.65

2.22

 

 

and including

101.35

111.30

9.95

2.92

 

 

including

101.35

102.35

1.00

15.90

 

 

and

123.50

124.00

0.50

28.70

 

*Represents core length. True mineralization widths range between 65- 95% of reported intervals as they are determined by both structural analyses obtained from oriented drill core data and orientations of individual high grade domains and bulk tonnage domains.  Mineralized domains vary in strike between 340 to 270 degrees and dip between 85 to 65 degrees to the north.  All drillholes intersect both high grade and bulk tonnage domains and often intersect multiple domains resulting in a range of true widths within the same drillhole.

 

Figure 1: LP Fault long section showing only high-grade gold domain intercepts.  Gold intercepts from the surrounding bulk tonnage style domains have been removed for clarity.  New drill results inside of the high-grade domains are highlighted.

Figure 2: Cross section 20900 including new deep drill results. Images are of selected core intervals and do not represent all gold mineralization on the property.

Figure 3: Cross section 20825 including new deep drill results. Images are of selected core intervals and do not represent all gold mineralization on the property.

Figure 4: Cross section 20775 including new deep drill results. Images are of selected core intervals and do not represent all gold mineralization on the property.

All LP Fault drill hole highlighted assays, plus drill collar locations and orientations can be downloaded at the Company’s web site.

Drill collar location, azimuth and dip for drill holes targeting the LP Fault zone included in this release are provided in the table below (UTM zone 15N, NAD 83):

Drill Hole

Easting

Northing

Elevation

Length

Dip

Azimuth

BR-280

457638

5634448

373

1053

-60

213

BR-323

457356

5634144

355

309

-44

203

BR-378

458589

5633576

360

350

-55

213

BR-379

458686

5633455

365

270

-55

212

BR-383

456650

5633873

358

594

-44

25

BR-384

456650

5633873

358

822

-55

27

BR-385

456564

5633897

359

756

-53

26

BR-386

456529

5633987

363

765

-57

28

BR-411

456221

5634368

365

501

-46

37

BR-412

456231

5634453

362

450

-47

37

BR-417

456423

5634421

359

234

-54

210

BR-419

457689

5634363

369

790

-59

207

BR-421

455733

5635325

377

570

-58

226

BR-422

455481

5635448

386

429

-58

225

BR-423

455430

5635385

386

381

-58

224

BR-424

455349

5635498

389

364

-56

224

BR-425

456908

5633934

357

300

-54

210

BR-430

457779

5634318

364

810

-60

207

BR-431

456467

5634343

359

207

-55

211

BR-432

456492

5634391

358

231

-56

214

BR-433

456517

5634430

358

282

-55

214

BR-440

455561

5635012

376

201

-61

227

BR-441

455635

5635011

376

273

-60

228

BR-442

455507

5635173

379

222

-56

228

BR-443

455549

5635146

378

261

-61

228

About the Dixie Project

The 100% owned flagship Dixie project boasts one of the largest recent gold discoveries in a Canadian mining jurisdiction.  Proximal to major infrastructure near the town of Red Lake, Ontario, the Dixie property comprises over 91.4 square kilometres of contiguous claims that extend over 22 kilometres with a paved highway and provincial power and natural gas lines.  The property also hosts a network of well-maintained logging roads which facilitate access.

The 23 high-grade domains discussed in this release are structurally and geologically distinctive from the surrounding lower grade, bulk tonnage style gold mineralization.  Together, they span a strike length of 4.2 kilometres and occur within larger stratigraphically controlled lower grade domains.  They are characterized by high degrees of strain and/or transposed quartz vein zones following two distinct structural fabrics and  transition from upper greenschist to lower amphibolite facies metamorphism.  Gold in the high-grade domains is generally observed as free gold, is often transposed into, and overgrows the dominant structural fabrics, and is higher-grade on average than the surrounding bulk tonnage gold zones.

To date, Great Bear has completed a total of 672 drill holes, identifying three high-grade gold discoveries.  The most significant discovery is the large-scale “LP Fault” zone, which comprises high-grade disseminated gold mineralization within broad moderate-to-lower-grade envelopes in felsic volcanic and sediment units.  LP Fault drilling has identified gold mineralization along 11 kilometres of strike length to date, and a detailed drill grid is being completed along approximately 4 kilometres of strike length.  The nearby “Hinge” and “Limb” gold zones are more characteristic of the renowned Red Lake mined deposits, comprising gold-bearing quartz veins and silica-sulphide replacement zones hosted by mafic volcanic units.  Over 80% of the Company’s drill holes into the LP Fault, Dixie Limb and Hinge zones contain visible gold mineralization.  Gold occurs mainly as free gold, neither bound to nor within sulphide minerals.

Great Bear adheres to industry-leading quality assurance / quality control (QA/QC) practices in data collection, analysis and disclosure, and detailed assays including all historical LP Fault drill hole data are available on the Company’s website at https://greatbearresources.ca/projects/overview/dixie-project-data/.

About Great Bear

Great Bear Resources Ltd. is a Vancouver-based gold exploration company focused on advancing its 100% owned Dixie project in Northwestern Ontario, Canada.  A significant exploration drill program is currently underway to define the mineralization within a large-scale, high-grade disseminated gold discovery made in 2019, the LP Fault.  Additional exploration drilling is also in progress to expand and infill nearby high-grade gold zones, as well as to test new regional targets.  The Company is currently in the process of compiling all historical data together with incoming assay results, with the goal of publishing an initial NI 43-101 compliant multi-million ounce mineral resource estimate for the Dixie project in early 2022. 

Great Bear is a committed partner to all stakeholders, with a long-term vision of sustainable exploration to advance the Dixie project in a manner that demonstrates good stewardship of land, operational excellence and accountability.

QA/QC and Core Sampling Protocols

Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario.  Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories in Ontario, an accredited mineral analysis laboratory, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods.  Pulps from approximately 5% of the gold mineralized samples are submitted for check analysis to a second lab.  Selected samples are also chosen for duplicate assay from the coarse reject of the original sample.  Selected samples with visible gold are also analyzed with a standard 1 kg metallic screen fire assay.  Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program (QAQC).  No QAQC issues were noted with the results reported herein. 

Qualified Person and NI 43-101 Disclosure

Mr. R. Bob Singh, P.Geo, VP Exploration, and Ms. Andrea Diakow P.Geo, VP Projects for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

ON BEHALF OF THE BOARD

“Chris Taylor”

Chris Taylor, President and CEO

Investor Inquiries:
Ms. Jenni Piette,
Director, Sustainability and Stakeholder Relations
Tel: 604-646-8354
info@greatbearresources.ca
www.greatbearresources.ca

Cautionary note regarding forward-looking statements

This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.

Forward-looking information are based on management of the parties’ reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.

Such factors, among other things, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); discrepancies between actual and estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.

Great Bear undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

Outlook Good For Base and Precious Metals Mining Stocks


Positive Outlook Into 2022 for Metals and Mineral Miners

 

Bullish factors for gold and silver going into 2022 and an upbeat outlook for industrial metals were outlined in a report released Friday (Oct. 1). The quarterly metals and mining industry report by the Senior Natural Resources Analyst from Noble Capital Markets makes a case for precious and industrial metals. Moreover, they also see a business climate setting up where M&A activity in the mining sector could accelerate.

 

Precious Metals

Using ETFs as a proxy for sector performance, gold mining companies and junior gold mining companies underperformed the overall mining sector last quarter (see chart). According to Nobles’s top-ranked Senior Analyst Mark
Reichmann
, futures prices for gold outperformed the related mining companies with only a 0.8% decline during the quarter.  The quarterly decline in silver prices was 15.3%.  Reichmann has increased conviction on precious metals and miners. According to the report, “we are growing more bullish going into 2022. Moreover, our outlook remains upbeat for industrial metals.”

 

 

Reichmann is constructive on the sector despite what he calls “headwinds” that include a rising U.S. dollar and higher treasury yields. This is because inflation is likely to remain high, real interest rates low, and as written in the report, “…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.” Reichmann indicates gold and silver can be viewed more favorably as a store of value. He says they value the utility of cryptocurrencies as an exchange medium, but “they have become more of a speculative vehicle whose market values are untethered to intrinsic value.”

 

Industrial Metals

Last quarter copper futures increased 4.3%, lead 3.6%, and zinc 4.8%. Noble’s industry report states they are 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,” writes Reichmann. Copper, lead, and zinc are all up on the year 16.4%, 17.8%, and 17.3%.

Industry Take-Away

The quarterly report is very forward-looking and makes a case to remain exposed to precious and base metals. The exposure it explains may be most advantageous if through mining stocks. A couple of the reasons given include valuations, particularly among junior companies, which the Senior Analyst says “remain attractive.” Another is because of the reduced availability of new high-quality deposits. He explains, large, high-quality deposits are becoming increasingly scarce, and lead times to bring a mine into production long. This may promote increased merger and acquisition activity as large mining companies seek to expand output.

Suggested Reading:



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Sources:

Metals
& Mining Third Quarter 2021 Review and Outlook

Koyfin

 

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Industry Report – Metals & Mining Third Quarter 2021 Review and Outlook

Friday, October 1, 2021

Minerals Industry Report

Metals & Mining Third Quarter 2021 Review and Outlook

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

Refer to end of report for Analyst Certification & Disclosures

  • 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.

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ANALYST CREDENTIALS, PROFESSIONAL DESIGNATIONS, AND EXPERIENCE

Senior Equity Analyst focusing on Basic Materials & Mining. 20 years of experience in equity research. BA in Business Administration from Westminster College. MBA with a Finance concentration from the University of Missouri. MA in International Affairs from Washington University in St. Louis.
Named WSJ ‘Best on the Street’ Analyst and Forbes/StarMine’s “Best Brokerage Analyst.”
FINRA licenses 7, 24, 63, 87

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RESEARCH ANALYST CERTIFICATION

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Receipt of Compensation
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Ownership and Material Conflicts of Interest
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NOBLE RATINGS DEFINITIONS
% OF SECURITIES COVERED
% IB CLIENTS
Outperform: potential return is >15% above the current price
84%
30%
Market Perform: potential return is -15% to 15% of the current price
3%
1%
Underperform: potential return is >15% below the current price
0%
0%

NOTE: On August 20, 2018, Noble Capital Markets, Inc. changed the terminology of its ratings (as shown above) from “Buy” to “Outperform”, from “Hold” to “Market Perform” and from “Sell” to “Underperform.” The percentage relationships, as compared to current price (definitions), have remained the same. Additional information is available upon request. Any recipient of this report that wishes further information regarding the subject company or the disclosure information mentioned herein, should contact Noble Capital Markets, Inc. by mail or phone.

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Report ID: 24074
Metals & Mining | October 1, 2021

Release – CanAlaska Identifies New Targets at Kingston Uranium Project


CanAlaska Identifies New Targets at Kingston Uranium Project

 

Historical Uranium Boulder Train Located Near Collins Bay Fault

Electromagnetic and Gravity Anomalies Define Shallow Targets Along Major Faults

West McArthur “42 Zone” Successfully Extended – Drilling Continues

Vancouver, British Columbia–(Newsfile Corp. – September 30, 2021) – CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSEDH7N) (“CanAlaska” or the “Company”) is pleased to announce that compilation work on the Company’s newly acquired Kingston Project has identified several new uranium targets. The targets are outlined by coincident electromagnetic (EM) and gravity anomalies, and a uranium-rich boulder train located just down-ice from the Collins Bay Fault structure (Figure 1).

Figure 1


Figure 2

 

The Collins Bay Fault is host to the Rabbit Lake, Collins Bay A, B and D, and Eagle Point orebodies, which, since 1975, have produced more than 200 million pounds of uranium. The location of these deposits along the length of the Collins Bay Fault system is largely controlled by interaction of the main, regional dextral reverse fault with bends or flexures of the main structure, splay structures coming off the main structure, or interaction with cross-cutting structures. The Maguire Fault hosts the Maguire zone of alteration and uranium mineralization on CanAlaska’s claims in northwest Manitoba.

During the mineralizing event, the host-rock is altered to clay, which can be imaged by geophysical methods such as EM and gravity. The coupling of EM “bright-spots” with gravity lows is a possible indication of the clay alteration associated with these significant mineralizing events. EM “bright-spots” were successfully used to discover an extension of the Eagle Point orebody (02 Next deposit) and drilling of a gravity low anomaly led to discovery of NexGen’s Arrow deposit, host to 337 million pounds of uranium resources.

The Kingston project is strategically located less than 100 kilometres northeast of the northeastern margin of the present-day Athabasca Basin within the Western Wollaston Domain, just east of the Wollaston-Mudjatik contact (Figure 2). Historical exploration in the area has been concentrated in two periods. Prospecting and geological mapping, lake sediment sampling, airborne and ground geophysical surveys, and limited diamond drilling work was completed from 1958 to 1980. Airborne and ground geophysical surveys including DIGHEM, Falcon and ZTEM, soil/rock/lake sediment sampling, prospecting and geological mapping occurred from 2004 to 2016. The various geophysical surveys map conductors and gravity anomalies coincident with two regional structures, the Collins Bay Fault and the Maguire Fault. Previous exploration within the project area has identified a large uranium-rich boulder train in the southeast corner of the project that is immediately down-ice of the Collins Bay Fault. Uranium-rich boulders with up to 0.57% (5,768 ppm) uranium have been reported. Anomalous nickel in lake sediments were identified along the Maguire Fault in the northeast corner of the property. Four high priority target areas have been identified (Figure 1).

West McArthur “42 Zone” Drilling Update

Diamond drilling at the Company’s West McArthur JV project is progressing as planned and has been successful in expanding the “42 Zone” discovery. Three diamond drill holes have reached the unconformity to date for a total of 2,946 m of drilling. The Company plans to complete an additional two to three diamond drill holes within the 42 Zone area for a targeted total meterage of 5,000 m.

Drill hole WMA063-1 intersected 16.1 m of elevated radioactivity immediately above the unconformity 32 m along strike to the west of drill hole WMA055-2 in the Company’s 42 Zone area. WMA055-2 intersected 2.1 m averaging 2.3% U3O8, including 0.7 m at 6.8% U3O8 (see press release dated October 15th, 2019). The new uranium intersection in WMA063-1 is thicker and contained within a strongly bleached lower sandstone column that contains dark black sooty pyrite, red hydrothermal hematite, and structurally-controlled strong clay alteration. Due to the strong clay alteration and faulting, core recovery is approximately 25% through two three-metre wide intervals within the mineralized zone above the unconformity. Geochemical assays of the mineralization, expected after the program is complete, will be used in conjunction with radiometric probing equivalents data to evaluate the grade and thickness of this new mineralization which extends the 42 Zone.

Southwest of the 42 Zone area two drill holes have been completed along the extension of the Grid 5 conductive corridor and controlling structure. Drill hole WMA061, drilled 700 m to the southwest of the 42 Zone, intersected the unconformity 68 m north-northwest of WMA049-1. WMA061 intersected a broad interval of faults in the lower sandstone column associated with bleached sandstone, increased interstitial clay, patches of sooty pyrite, remobilized hematite, and structurally-controlled limonite and clay alteration. The sandstone structure and alteration indicate that WMA061 intersected the unconformity approximately 30 m north of the ideal target, leaving the target open on this fence.

Drill hole WMA062, drilled 1.8 km to the southwest of the 42 Zone, intersected the unconformity 38 m northwest of WMA040. WMA062 intersected a 30 m wide fault in the lower sandstone column with strong limonite alteration, patches of grey sooty pyrite, and structurally-controlled dravitic breccias. In the basement of WMA062, the top of the targeted fault zone was intersected 10 m below the unconformity and is characterized by a 20 m wide interval of quartz-healed hydraulic breccias and localized re-activated clay gouge with strong hematite, chlorite, bleaching, sericite, and specular hematite alteration. This is followed by a second 8 m wide fault zone that contains abundant re-activated cataclastic breccias and clay gouges characterized by strong pervasive bone-white bleaching, dark black structurally-controlled chlorite, and hematite alteration. The strong alteration and large faults in the basement of this drillhole suggest the ideal target starts approximately 10 – 15 m north of WMA062 and extends to the north where these two basement faults remain untested at the unconformity.

Drillholes WMA061 and WMA062 confirm the fault system along the conductive corridor in the Grid 5 area is present, large, and strongly altered southwest of the 42 Zone.

CanAlaska CEO, Cory Belyk, comments, “The Kingston Project has structural and geophysical targets that look like an Eagle Point or Arrow analogue in close association with a historical uranium-rich boulder train. The team is delighted this compilation work has outlined key target areas on this project associated with the large Collins Bay and Maguire faults, none of which have been drill tested in this area. In addition, the ongoing drilling program at West McArthur has successfully extended the “42 Zone” mineralization and drilling will continue on nearby priority targets along the 42 Zone controlling structure.”

Other News

CanAlaska’s joint venture partner, Denison Mines, continues drilling on our new Moon Lake South joint venture located near Denison’s Wheeler River Project.

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 300,000 hectares (750,000 acres), in Canada’s Athabasca Basin region – the “Saudi Arabia of Uranium.” CanAlaska’s strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company’s properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world’s richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.

The qualified technical person for this news release is Nathan Bridge, MSc., P.Geo., CanAlaska’s Vice President, Exploration.

On behalf of the Board of Directors
“Peter Dasler”
Peter Dasler, M.Sc., P.Geo.
President
CanAlaska Uranium Ltd.


Contacts:

Cory Belyk, Executive VP and CEO
Tel: +1.604.688.3211 x 306
Email: cbelyk@canalaska.com

Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.com 

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

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

Source:
CanAlaska Uranium Ltd.