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Travelling Through Deep Time to Find Copper for a Clean Energy Future

 

More than 100 countries, including the United States and members of the European Union, have committed to net-zero carbon emissions by 2050. The world is going to need a lot of metal, particularly copper.

Recently, the International Energy Agency sounded the warning bell on the global supply of copper as the most widely used metal in renewable energy technologies. With Goldman Sachs predicting copper demand to grow up to 600% by 2030 and global supply becoming increasingly strained, it is clear we need to find new and large deposits of copper fast.

Getting this much copper will be impossible unless we discover significant new copper deposits. But there has been little exploration for copper over the past decade, as prices have been relatively low.

 

This article was republished with permission from  The Conversation, a news site dedicated to sharing ideas from academic experts. It represents the research-based findings and thoughts of Dietmar Müller, Professor of Geophysics, University of Sydney, Jo Condon, Honorary researcher, The University of Melbourne, Julian Diaz, Exploration Geologist, University of Sydney, and Rohitash Chandra, Senior Lecturer, UNSW

 

We have been developing software to model Earth in four dimensions to look deep inside the planet and back into the past to discover where copper deposits formed along ancient mountain ranges. This software, called GPlates, is a powerful four-dimensional information system for geologists.

How Large Copper Deposits Form

Many of the world’s richest copper deposits formed along volcanic mountain chains such as the Andes and the Rocky Mountains, in these regions, an oceanic tectonic plate and a continent collide, with the oceanic plate sinking under the edge of the continent in a process called subduction.

This process creates a variety of igneous rocks and copper deposits to form along the edge of the continent, at depths of between one and five kilometres in the crust, where hot magmatic fluids containing copper (and other elements) circulate within networks of faults. After millions of years of further plate movement and erosion, these treasures move close to the surface – ready to be discovered.

A sample of copper hosted in a quartz vein in the form of a mineral called chalcopyrite. When exposed to air, the surface oxidises to create this metallic ‘peacock’ lustre. Marek Novot?ák / Wikimedia Commons

Searching for Copper

Geologists typically use a set of well-established tools to look for copper. These include geological mapping, geochemical sampling, geophysical surveys and remote sensing. However, this approach does not consider the origin of the magmatic fluids in space and time as the driver of copper formation.

We know these magmatic fluids come from the “mantle wedge”, a wedge-shaped piece of the mantle between the two plates that is fed by oceanic fluids escaping from the downgoing plate. The oceanic plate heats up on its way down, releasing fluids that rise into the overlying continental crust, which in turn drives volcanic activity at the surface and the accumulation of metals such as copper.

Cross section of the Earth showing one tectonic plate going under the other, creative volcanism and copper deposits directly above

 

 

Copper deposits tend to form above subduction zones along
volcanic chains. This schematic is not to scale.

 

Differences in how subduction occurs and the characteristics of the oceanic plate may hold the secret to better understanding where and when copper deposits form. However, this information is traditionally not used in copper exploration.

 

Building a Virtual Earth

At the EarthByte research group, we are building a virtual Earth powered by our GPlates plate tectonic software, which lets us look deep below the surface and travel back in time. One of its many applications is to understand where copper deposits have formed along mountain belts.

In a recent paper, we outline how it works. We focus on the past 80 million years because most of the known economic copper deposits along mountain belts formed during this period. This period is also most accurate for our models.

We used machine learning to find links between known copper deposits along mountain belts and the evolution of the associated subduction zone. Our model looks at several different subduction zone parameters and determines how important each one is in terms of association with known ore deposits.

 

 

So what turns out to be important? How fast the plates are moving towards each other, how much calcium carbonate is contained in the subducting crust and in deep-sea sediments, how old and thick the subducting plate is, and how far it is to the nearest edge of a subduction zone.

Using our machine learning approach, we can look at different parts of the world and see whether they would have experienced conditions conducive to forming copper deposits at different times. We identified several candidate regions in the US, including in central Alaska, southern Nevada, southern California and Arizona, and numerous regions in Mexico, Chile, Peru and Ecuador.

Knowing when copper ore deposits may have formed is important, as it helps explorers to focus their efforts on rocks of particular ages. In addition, it reveals how much time given deposits might have had to move closer to the surface.

Australia has similar deposits, including the Cadia copper-gold district in New South Wales. However, these rocks are significantly older (roughly 460 million to 430 million years old) and require virtual Earth models to look much further back in time than those applied to the Americas.

 

The Future of Mineral Exploration

Finding 10 million tonnes of copper by 2030 – the equivalent of eight of the largest copper deposits that we mine today – presents an enormous challenge.

With support over a decade from AuScope and the National Collaborative Research Infrastructure Strategy (NCRIS), we are in a position to imagine tackling this challenge. By supercharging GPlates in Australia’s Downward Looking Telescope, together with AI and supercomputing, we can meet it head on.

These emerging technologies are increasingly being used by Australian startups like Lithodat and DeeperX and mining companies in collaboration with universities to develop AI’s enormous potential for critical minerals discovery.

 

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Aurania Receives Approval On Amendment Of Warrant Terms

 

Toronto, Ontario, August 20, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) announces that the TSX Venture Exchange has consented to the proposed amendment of warrant terms as announced on August 6, 2021.  A total of  1,043,567 non-broker warrants (the “Warrants”) were issued in relation to a private placement financing that closed in three tranches on February 28, March 5 and March 13, 2020.  The Warrants carry an exercise price per share of C$4.25 and are scheduled to expire on August 28, September 5 and September 13, 2021, respectively.  These Warrants are the only non-listed warrants currently outstanding.

The amended terms include the following: (a) a reduction of the exercise price to C$3.40 per share issuable upon exercise of a Warrant; (b) an extension to the expiry date to March 13, 2022; and (c) an accelerated expiry provision, such that the Warrants will expire on the earlier of the extended expiry date and 30 days following the 10th consecutive trading day on which the closing price of Aurania’s shares exceeds the amended exercise price of the Warrants by 15% or more.

The amendments will become effective automatically as of the original date and time of expiry of the Warrants. Prior to the original date and time of expiry of the Warrants, the Warrants will remain in force, unamended, per their original terms and conditions.  These amendments do not apply to any Warrants issued to finders or agents as compensation.

Holders of the Warrants may contact the Company at ir@aurania.com or DSA Corporate Services at info@dsacorp.ca, the administrator of the Warrants, should they have any questions or wish to exercise their Warrants.  The Company will accept the original certificate representing the Warrants, together with a duly completed exercise form, together with payment made to Aurania Resources Ltd., in accordance with the instructions provided on the certificate representing the Warrants.

The amendments were accepted by the TSX Venture Exchange effective August 19, 2021.

 

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America.  Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at  https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir VP Investor Relations Aurania Resources Ltd. (416) 367-3200 carolyn.muir@aurania.com

Dr. Richard Spencer President Aurania Resources Ltd. (416) 367-3200 richard.spencer@aurania.com

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

Forward-Looking Statements

This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurania. Forward-looking statements include estimates and statements that describe Aurania’s future plans, objectives or goals, including words to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, the effects of COVID-19 on the business of the Company including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains, and those risks set out in Aurania’s public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aurania disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Thursday, August 19, 2021

Ely Gold Royalties (ELYGF)(ELY:CA)
Shareholders Overwhelmingly Approve Combination with Gold Royalty Corp.

As of April 24, 2020, Noble Capital Markets research on Ely Gold Royalties is published under ticker symbols (ELYGF and ELY:CA). The price target is in USD and based on ticker symbol ELYGF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. Ely Gold Royalties Inc is an emerging royalty company with producing and development assets focused in Nevada and the Western US. It offers shareholders a low-risk leverage to the current price of gold and low-cost access to long-term gold royalties.

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.

Business combination approved. During a special meeting on August 17, Ely Gold shareholders approved a special resolution authorizing a business combination by way of statutory plan of arrangement between Ely Gold Royalties and Gold Royalty Corp. (NYSE American, GROY). The resolution was approved by 99.52% of the votes cast by Ely shareholders present in person or by proxy, and by 99.47% of the votes cast excluding votes cast by interested parties. Total votes cast for the arrangement resolution represented approximately 49.02% of Ely’s total issued and outstanding common shares.


Share election outcomes.  Based on elections received from Ely shareholders and after pro-rationing and adjustments, for those shareholders that elected to receive Gold Royalty Corp. shares, each Ely Gold share is expected to be exchanged for 0.2450 of a Gold Royalty share plus $0.0001 in cash. For those that elected to receive cash, each Ely Gold share is expected to be exchanged for $0.869053 in …

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. 

Aurania Provides Update on Drilling at Tsenken and Tiria-Shimpia Targets

 

Toronto, Ontario, August 19, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) reports that drilling at the Tsenken N1 target has intersected sediment-hosted copper mineralization visible over approximately 2 metres (“m”) and has also intersected salt, a key element of sediment-hosted copper mineralized systems.  Scout drilling continues for sediment-hosted copper at Tsenken N1 and for silver-zinc at Tiria-Shimpia in the Company’s Lost Cities – Cutucu Project (“Project”) in southeastern Ecuador.

Aurania’s Chairman and CEO, Dr. Keith Barron commented, “We recognized early on that the copper-silver within the Project is of Kupferschiefer style, and this was confirmed by Professor Gregor Borg, an international expert on the subject.  Essentially, what we have are multiple levels of sandstone with organic plant material which is now carbon in the Jurassic-aged Chapiza Formation.  This geological formation is mostly comprised of “red bed” sediments and is analogous to the Rotliegendes (in German “underlying red”) found beneath the Kupferschiefer in Poland and Germany.  The carbon in the Chapiza has acted as a chemical reductant, causing the dissolved copper to fall out of solution where oxidized, copper-charged groundwaters come in contact with the carbon.  At this point we still do not know the grade and thickness of these copper and silver mineralized carbon beds, nor how many individual stacked beds occur on our concessions.  We do know through mapping that we are dealing with multiple beds. A presentation of key concepts will be made available shortly on Aurania’s website at www.aurania.com.”

Tsenken N1

Drill hole TSN1-007, which is still underway, intersected approximately 2m of bleached sandstone, composed of volcanic fragments, that contains disseminated copper mineralization in the form of green malachite (Cu₂CO₃(OH)₂) and black tenorite (CuO).  The volcanic sandstone contains carbonized plant fragments similar to the mineralized sandstone found at surface.  The mineralized interval has been sampled and the samples have been delivered to the lab in Cuenca in central Ecuador for preparation before despatch to Vancouver for analysis.  The intercept is at 157m down-hole and approximately 80m below surface (Figure 1).

Drill hole TSN1-006 ended in salt, which was intersected at a depth down-hole of about 600m, a little higher in the geological profile than anticipated (see Figure 2 in press release dated July 21, 2021).

Six drill holes have been completed for a total of 1859m and hole TSN1-007 is currently at a depth of approximately 350m.

Figure 1.  Vertical profile interpretation through the Tsenken N1 area showing the location of drill holes 1, 2 and 3 that tested for sediment-hosted copper-silver in red-beds beneath a lava seal.  Hole TSN1-006 intersected salt and hole TSN1-007 is testing for expected sediment-hosted copper in a similar position in the sedimentary layering as the silver-zinc mineralization at Tiria-Shimpia is located.  The fault system shown in red is suspected to have fed copper into the sediments in a similar way that it did zinc-silver into the Tiria-Shimpia area.  (Evap. is evaporite (salt) and Int. is intrusive such as a porphyry). 

Drilling at Tiria-Shimpia

Two drill holes have been completed at Tiria-Shimpia for a total of 762m, and hole SH-003 is underway at approximately 300m depth.  Weak silver-zinc mineralization was intersected in 7 sedimentary layers in hole SH-001 and results are awaited from hole 2.

Qualified Person

The geological information contained in this news release has been verified and approved by Jean-Paul Pallier, MSc.  Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America.  Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at  https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir VP Investor Relations Aurania Resources Ltd. (416) 367-3200 carolyn.muir@aurania.com

Dr. Richard Spencer President Aurania Resources Ltd. (416) 367-3200 richard.spencer@aurania.com

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

Forward-Looking Statements

This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurania. Forward-looking statements include estimates and statements that describe Aurania’s future plans, objectives or goals, including words to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, the effects of COVID-19 on the business of the Company including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains, and those risks set out in Aurania’s public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aurania disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Aurania Provides Update on Drilling at Tsenken and Tiria-Shimpia Targets

 

Toronto, Ontario, August 19, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) reports that drilling at the Tsenken N1 target has intersected sediment-hosted copper mineralization visible over approximately 2 metres (“m”) and has also intersected salt, a key element of sediment-hosted copper mineralized systems.  Scout drilling continues for sediment-hosted copper at Tsenken N1 and for silver-zinc at Tiria-Shimpia in the Company’s Lost Cities – Cutucu Project (“Project”) in southeastern Ecuador.

Aurania’s Chairman and CEO, Dr. Keith Barron commented, “We recognized early on that the copper-silver within the Project is of Kupferschiefer style, and this was confirmed by Professor Gregor Borg, an international expert on the subject.  Essentially, what we have are multiple levels of sandstone with organic plant material which is now carbon in the Jurassic-aged Chapiza Formation.  This geological formation is mostly comprised of “red bed” sediments and is analogous to the Rotliegendes (in German “underlying red”) found beneath the Kupferschiefer in Poland and Germany.  The carbon in the Chapiza has acted as a chemical reductant, causing the dissolved copper to fall out of solution where oxidized, copper-charged groundwaters come in contact with the carbon.  At this point we still do not know the grade and thickness of these copper and silver mineralized carbon beds, nor how many individual stacked beds occur on our concessions.  We do know through mapping that we are dealing with multiple beds. A presentation of key concepts will be made available shortly on Aurania’s website at www.aurania.com.”

Tsenken N1

Drill hole TSN1-007, which is still underway, intersected approximately 2m of bleached sandstone, composed of volcanic fragments, that contains disseminated copper mineralization in the form of green malachite (Cu₂CO₃(OH)₂) and black tenorite (CuO).  The volcanic sandstone contains carbonized plant fragments similar to the mineralized sandstone found at surface.  The mineralized interval has been sampled and the samples have been delivered to the lab in Cuenca in central Ecuador for preparation before despatch to Vancouver for analysis.  The intercept is at 157m down-hole and approximately 80m below surface (Figure 1).

Drill hole TSN1-006 ended in salt, which was intersected at a depth down-hole of about 600m, a little higher in the geological profile than anticipated (see Figure 2 in press release dated July 21, 2021).

Six drill holes have been completed for a total of 1859m and hole TSN1-007 is currently at a depth of approximately 350m.

Figure 1.  Vertical profile interpretation through the Tsenken N1 area showing the location of drill holes 1, 2 and 3 that tested for sediment-hosted copper-silver in red-beds beneath a lava seal.  Hole TSN1-006 intersected salt and hole TSN1-007 is testing for expected sediment-hosted copper in a similar position in the sedimentary layering as the silver-zinc mineralization at Tiria-Shimpia is located.  The fault system shown in red is suspected to have fed copper into the sediments in a similar way that it did zinc-silver into the Tiria-Shimpia area.  (Evap. is evaporite (salt) and Int. is intrusive such as a porphyry). 

Drilling at Tiria-Shimpia

Two drill holes have been completed at Tiria-Shimpia for a total of 762m, and hole SH-003 is underway at approximately 300m depth.  Weak silver-zinc mineralization was intersected in 7 sedimentary layers in hole SH-001 and results are awaited from hole 2.

Qualified Person

The geological information contained in this news release has been verified and approved by Jean-Paul Pallier, MSc.  Mr. Pallier is a designated EurGeol by the European Federation of Geologists and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America.  Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at  https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir VP Investor Relations Aurania Resources Ltd. (416) 367-3200 carolyn.muir@aurania.com

Dr. Richard Spencer President Aurania Resources Ltd. (416) 367-3200 richard.spencer@aurania.com

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

Forward-Looking Statements

This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurania. Forward-looking statements include estimates and statements that describe Aurania’s future plans, objectives or goals, including words to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, the effects of COVID-19 on the business of the Company including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains, and those risks set out in Aurania’s public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aurania disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Thursday, August 19, 2021

Ely Gold Royalties (ELYGF)(ELY:CA)
Shareholders Overwhelmingly Approve Combination with Gold Royalty Corp.

As of April 24, 2020, Noble Capital Markets research on Ely Gold Royalties is published under ticker symbols (ELYGF and ELY:CA). The price target is in USD and based on ticker symbol ELYGF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. Ely Gold Royalties Inc is an emerging royalty company with producing and development assets focused in Nevada and the Western US. It offers shareholders a low-risk leverage to the current price of gold and low-cost access to long-term gold royalties.

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.

Business combination approved. During a special meeting on August 17, Ely Gold shareholders approved a special resolution authorizing a business combination by way of statutory plan of arrangement between Ely Gold Royalties and Gold Royalty Corp. (NYSE American, GROY). The resolution was approved by 99.52% of the votes cast by Ely shareholders present in person or by proxy, and by 99.47% of the votes cast excluding votes cast by interested parties. Total votes cast for the arrangement resolution represented approximately 49.02% of Ely’s total issued and outstanding common shares.


Share election outcomes.  Based on elections received from Ely shareholders and after pro-rationing and adjustments, for those shareholders that elected to receive Gold Royalty Corp. shares, each Ely Gold share is expected to be exchanged for 0.2450 of a Gold Royalty share plus $0.0001 in cash. For those that elected to receive cash, each Ely Gold share is expected to be exchanged for $0.869053 in …

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

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

Wednesday, August 18, 2021

Palladium One Mining Inc. (NKORF)(PDM:CA)
No Shortage of Stock Catalysts on the Horizon

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

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

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

Corporate update. Palladium One provided an update on exploration progress at its LK PGE-Cu-Ni project in Finland and Tyko Cu-Ni project in Ontario, Canada, along with expected milestones during the next several months. In its most recent corporate presentation, the company has laid out its objectives and milestones through 2026.


Updated resource estimates and PEA.  At the LK project, resource definition drilling at Kaukua and the western part of Kaukua South is expected to wrap up in mid-September. Management expects to complete updated NI 43-101 compliant resource estimates for the Haukiaho zone during the third quarter, and for the Greater Kaukua area in December 2021/January 2022. A preliminary economic assessment is …

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

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

Palladium One Corporate Update

 

August 17, 2021 – Toronto, Ontario –Palladium One Mining (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) is pleased to provide this corporate update which highlights the current exploration status of our two primary projects, namely the LK PGE-Cu-Ni Project in Finland and the Tyko Copper-Nickel Project in Ontario, Canada. In addition, we are pleased to provide the key objectives of the Company over the coming months.

“With a cash balance of $15 million (unaudited) as at July 31, 2021, the Company is well funded to advance planned activities for the foreseeable future.” said Derrick Weyrauch, President and CEO.

Key Objectives (Milestones)

LK Platinum Group Element-Copper-Nickel Project, Finland

1. Resource definition drilling at Kaukua and the western portion of Kaukua South (“Kaukua Areas”) is scheduled for completion mid-September 2021. (Figure 1)
2. A NI43-101 compliant resource estimate for the Haukiaho zone, located 10 kilometers south of Kaukua, is scheduled for completion in Q3 2021.
3. Phase II metallurgical testing of the Kaukau Areas is underway and scheduled for completion before year end.
4. An updated NI43-101 compliant resource for the Kaukua Areas is scheduled for completion at year end (December 2021/January 2022).
5. A Preliminary Economic Assessment (“PEA”) is planned for mid-2022.
6. Step out drilling targeting the recently announced Induced Polarization (IP) anomaly to the west of Kaukua is scheduled to be drill tested starting September 2021. (Figure 1) (see news release dated July 7, 2021).
7. Assay labs continue to struggle with timely delivery of results due to an industry wide high volume of activity.
8. Assay results for 38 drill holes remain outstanding, while results have been released for 78 drill holes.

Tyko Copper-Nickel Project, Ontario, Canada

1. Drilling has resumed on the Smoke Lake zone, following a major drill breakdown and early spring thaw.
   1. Four holes have been completed from a planned seven-hole program.
   2. The objective is to find the source of the high-grade mineralization which produced intersections up to 9.9% Ni_Eq over 3.8 metres at surface (8.2 % Ni, 2.9 % Cu, 0.1 % Co, 0.6 g/t Pd, 0.5 g/t Pt), (see press release January 19, 2021)
   3. Previously, 28 drill holes defined a shallow 350-meter mineralized strike length at the Smoke Lake zone.
   4. Exploration drilling is targeting:
      1. Down plunge extensions of known mineralization.
      2. A large inverted magnetic high located below the Smoke Lake zone (Figure 2) will be tested by a 900-meter geophysics platform hole. The magnetic high may represent a significant accumulation of ultramafic rocks, potentially representing the source of remobilized / injected massive sulphides found at surface.
      3. After completion of the 900-meter deep hole, a Borehole Electromagnetics (“BHEM”) survey is planned to help determine the possible presents of massive sulphide mineralization at depth.
2. A 3,100-line kilometer VTEM geophysics survey has been completed over the entire Tyko property, the results of which are expected shortly.
3. The summer field program is well underway, crews are on their second rotation and beginning to explore the newly expanded Tyko Property (see news release July 27, 2021).
   1. To date over 1,300 soil samples have been collected for analysis, while results are pending.

Figure 1. Historic and current drilling in the Kaukua and Western portion of the Kaukau South area. Background is IP Chargeability.

Figure 2. Isometric view of the Smoke Lake zone area looking north-northwest showing 2020 drill holes and inverted drone based high-resolution magnetics.

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 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 is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Palladium One Mining Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

Tuesday, August 17, 2021

Sierra Metals (SMTS)(SMT:CA)
Updated PEA Reflects Enhanced Economics Supporting Bolivar Expansion

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

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

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

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

Updated Bolivar preliminary economic assessment. Sierra Metals released results from an updated preliminary economic assessment (PEA) for the company’s Bolivar Mine that reflects both an increase in production capacity from 5,000 tonnes per day to 10,000 tonnes per day in 2024, and the incremental benefit of iron ore concentrate production. Both the updated PEA and a previous study, dated October 19, 2020, contemplated a mine life of 14 years. The full technical report will be available within 45 days.


Favorable comparison.  Compared to the prior PEA which also contemplated an increase in production capacity to 10,000 tonnes per day, net after-tax present value increased to US$361 million, compared to US$283 million based on an 8% discount rate. Net after-tax cash flow is expected to increase to US$650 million from US$521 million, with life of mine and sustaining capital cost increasing a modest …

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

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

Palladium One Corporate Update

 

August 17, 2021 – Toronto, Ontario –Palladium One Mining (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) is pleased to provide this corporate update which highlights the current exploration status of our two primary projects, namely the LK PGE-Cu-Ni Project in Finland and the Tyko Copper-Nickel Project in Ontario, Canada. In addition, we are pleased to provide the key objectives of the Company over the coming months.

“With a cash balance of $15 million (unaudited) as at July 31, 2021, the Company is well funded to advance planned activities for the foreseeable future.” said Derrick Weyrauch, President and CEO.

Key Objectives (Milestones)

LK Platinum Group Element-Copper-Nickel Project, Finland

1. Resource definition drilling at Kaukua and the western portion of Kaukua South (“Kaukua Areas”) is scheduled for completion mid-September 2021. (Figure 1)
2. A NI43-101 compliant resource estimate for the Haukiaho zone, located 10 kilometers south of Kaukua, is scheduled for completion in Q3 2021.
3. Phase II metallurgical testing of the Kaukau Areas is underway and scheduled for completion before year end.
4. An updated NI43-101 compliant resource for the Kaukua Areas is scheduled for completion at year end (December 2021/January 2022).
5. A Preliminary Economic Assessment (“PEA”) is planned for mid-2022.
6. Step out drilling targeting the recently announced Induced Polarization (IP) anomaly to the west of Kaukua is scheduled to be drill tested starting September 2021. (Figure 1) (see news release dated July 7, 2021).
7. Assay labs continue to struggle with timely delivery of results due to an industry wide high volume of activity.
8. Assay results for 38 drill holes remain outstanding, while results have been released for 78 drill holes.

Tyko Copper-Nickel Project, Ontario, Canada

1. Drilling has resumed on the Smoke Lake zone, following a major drill breakdown and early spring thaw.
   1. Four holes have been completed from a planned seven-hole program.
   2. The objective is to find the source of the high-grade mineralization which produced intersections up to 9.9% Ni_Eq over 3.8 metres at surface (8.2 % Ni, 2.9 % Cu, 0.1 % Co, 0.6 g/t Pd, 0.5 g/t Pt), (see press release January 19, 2021)
   3. Previously, 28 drill holes defined a shallow 350-meter mineralized strike length at the Smoke Lake zone.
   4. Exploration drilling is targeting:
      1. Down plunge extensions of known mineralization.
      2. A large inverted magnetic high located below the Smoke Lake zone (Figure 2) will be tested by a 900-meter geophysics platform hole. The magnetic high may represent a significant accumulation of ultramafic rocks, potentially representing the source of remobilized / injected massive sulphides found at surface.
      3. After completion of the 900-meter deep hole, a Borehole Electromagnetics (“BHEM”) survey is planned to help determine the possible presents of massive sulphide mineralization at depth.
2. A 3,100-line kilometer VTEM geophysics survey has been completed over the entire Tyko property, the results of which are expected shortly.
3. The summer field program is well underway, crews are on their second rotation and beginning to explore the newly expanded Tyko Property (see news release July 27, 2021).
   1. To date over 1,300 soil samples have been collected for analysis, while results are pending.

Figure 1. Historic and current drilling in the Kaukua and Western portion of the Kaukau South area. Background is IP Chargeability.

Figure 2. Isometric view of the Smoke Lake zone area looking north-northwest showing 2020 drill holes and inverted drone based high-resolution magnetics.

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 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 is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Palladium One Mining Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

Tuesday, August 17, 2021

Sierra Metals (SMTS)(SMT:CA)
Updated PEA Reflects Enhanced Economics Supporting Bolivar Expansion

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

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

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

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

Updated Bolivar preliminary economic assessment. Sierra Metals released results from an updated preliminary economic assessment (PEA) for the company’s Bolivar Mine that reflects both an increase in production capacity from 5,000 tonnes per day to 10,000 tonnes per day in 2024, and the incremental benefit of iron ore concentrate production. Both the updated PEA and a previous study, dated October 19, 2020, contemplated a mine life of 14 years. The full technical report will be available within 45 days.


Favorable comparison.  Compared to the prior PEA which also contemplated an increase in production capacity to 10,000 tonnes per day, net after-tax present value increased to US$361 million, compared to US$283 million based on an 8% discount rate. Net after-tax cash flow is expected to increase to US$650 million from US$521 million, with life of mine and sustaining capital cost increasing a modest …

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.