Tag: Gold

Release – Maple Gold Intersects Near-Surface Gold Mineralization of 3.1 g/t Gold Over 7.3 Metres and 2.3 g/t Gold Over 10.4 Metres Confirming Continuity of the South Mine Horizon at Eagle

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on MGMLF

Vancouver, British Columbia–(Newsfile Corp. – December 13, 2022) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to report complete assay results for four (4) drillholes and partial assay results for five (5) additional drillholes from the Company’s ongoing 2022 drilling at its 100%-controlled Eagle Mine Property (“Eagle”) located in Québec, Canada. Previously completed digitization and modelling of historical drill results and a further review of drill logs identified a potential southern splay of the main mine horizon (the “South Mine Horizon”) located northwest of the past-producing Eagle mine in an area targeted for follow-up drilling. The new results confirm the continuity of the South Mine Horizon at relatively shallow (< 275 metre (“m”)) vertical depths, suggest local widening of the mineralized zone in this area, and further demonstrate the potential for additional subparallel gold trends at Eagle.

Highlights:

  • 2022 drilling results, including new results detailed below, demonstrate vertical continuity of the South Mine Horizon over a 350 m vertical interval from surface; known mineralization extends to approximately 800 m vertical depth on adjacent sections and remains open along strike to the northwest as well as at depth (see Figures 1 and 2):
    • Drill hole EM-22-13 intersected 2.3 grams per tonne (“g/t”) gold (“Au”) over 10.4 m, including 5.0 g/t Au over 3.2 m (from 257 m downhole).
    • Drill hole EM-22-16 intersected 3.1 g/t Au over 7.3 m, including 4.0 g/t Au over 3.6 m (the latter from 193 m downhole).
  • Drill hole EM-22-10 intersected 14 g/t Au over 0.5 m (from 539.5 m downhole) and 8.3 g/t Au over 1.0 m (from 543 m downhole); this hole also tested the South Mine Horizon more than 200 m further to the southeast.
  • All reported drillholes contained gold mineralization (over 1 g/t Au) and seven (7) of the nine (9) reported drillholes contained multi-gram gold intercepts (2 g/t Au or better).
  • There are still approximately 2,250 m of assays currently pending at Eagle, with a further approximately 1,500 m of remaining drilling to be completed this year.

“These new results at Eagle confirm our modelling interpretations and demonstrate the potential to define significant zones of gold mineralization beyond what was historically mined at Eagle during a much lower gold price environment,” stated Fred Speidel, VP Exploration of Maple Gold. “Encountering relatively shallow multi-gram gold intercepts in an area that remains open for roughly 200 m along strike within the Eagle property boundary and a further 1.5 km beyond that on JV-controlled ground highlights the exploration upside that remains along this past-producing mine trend.”

Interpretation and Summary of Results

The Company’s previously reported contoured longitudinal section (see news releases from October 7, 2021 and January 17, 2022) followed the northern splay in this area of the Eagle deposit. The new drill results support earlier interpretations that gold mineralization occurs over multiple sub-parallel horizons extending along a northwest-southeast orientation, over an actual stratigraphic thickness of more than 100 m (see Figure 2). Historical drillholes located approximately 1.7 km to the northwest of the reported intercepts are associated with semi-massive to banded pyrite with quartz and Fe-carbonate, with several intercepts over 1 g/t Au, including historical hole F-19 that intersected 3.1 g/t Au over 3.5 m (see Figure 1).


Figure 1: Geologic plan view map depicting Eagle drill plan, Eagle-Telbel deposits and line of section shown in Figure 2.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3077/147812_460d6c30e4e63a5d_001full.jpg


Figure 2: Cross section highlighting new assay results and previously reported EM-22-005 intercept along well-defined South Mine Horizon.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3077/147812_460d6c30e4e63a5d_002full.jpg

Once all assays have been received from the Company’s 2022 drilling at Eagle, the 3D model and longitudinal sections will be updated with the corresponding grade contouring including all results from the 2022 drilling campaigns.

Table 1: Final and partial results for Eagle drillholes being reported


All intervals are downhole lengths. True widths are estimated to be between 35% (for steeper holes) to 80% (for shallower angle holes) of downhole lengths.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3077/147812_460d6c30e4e63a5d_003full.jpg

Qualified Person

The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Fred Speidel, M. Sc., P. Geo., Vice-President Exploration of Maple Gold. Mr. Speidel is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Speidel has verified the data related to the exploration information disclosed in this press release through his direct participation in the work.

Quality Assurance (QA) and Quality Control (QC)

The Company implements strict Quality Assurance (“QA“) and Quality Control (“QC“) protocols at Eagle covering the planning and placing of drill holes in the field; drilling and retrieving the NQ-sized drill core; drillhole surveying; core transport; core logging by qualified personnel; sampling and bagging of core for analysis; transport of core from site to the Val d’Or, Québec AGAT laboratory; sample preparation for assaying; and analysis, recording and final statistical vetting of results. For a complete description of protocols, please visit the Company’s QA/QC webpage at www.maplegoldmines.com.

About Maple Gold

Maple Gold Mines Ltd. is a Canadian advanced exploration company in a 50/50 joint venture with Agnico Eagle Mines Limited to jointly advance the district-scale Douay and Joutel gold projects located in Québec’s prolific Abitibi Greenstone Gold Belt. The projects benefit from exceptional infrastructure access and boast ~400 km2 of highly prospective ground including an established gold resource at Douay (SLR 2022) that holds significant expansion potential as well as the past-producing Eagle, Telbel and Eagle West mines at Joutel. In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property.

The district-scale property package also hosts a significant number of regional exploration targets along a 55 km strike length of the Casa Berardi Deformation Zone that have yet to be tested through drilling, making the project ripe for new gold and polymetallic discoveries. The Company is well capitalized and is currently focused on carrying out exploration and drill programs to grow resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi. For more information, please visit www.maplegoldmines.com.

ON BEHALF OF MAPLE GOLD MINES LTD.

“Matthew Hornor”

B. Matthew Hornor, President & CEO

For Further Information Please Contact:

Mr. Joness Lang
Executive Vice-President
Cell: 778.686.6836
Email: jlang@maplegoldmines.com

Mr. Jeff Uppal
Manager, Investor Relations
Cell: 778.977.4724
Email: juppal@maplegoldmines.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 PRESS RELEASE.

Forward Looking Statements:

This press release contains “forward-looking information” and “forward-looking statements” (collectively referred to as “forward-looking statements”) within the meaning of applicable Canadian securities legislation in Canada, including statements about exploration work and results from current and future work programs. Forward-looking statements are based on assumptions, uncertainties and management’s best estimate of future events. Actual events or results could differ materially from the Company’s expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Maple Gold Mines Ltd.’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.maplegoldmines.com. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/147812

Allegiant Gold (AUXXF) – Successful Diamond Drilling Program Affirms Eastside’s High-Grade Potential

Posted on by cpereira@noblefcm.com


Thursday, December 08, 2022

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

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

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

Diamond drilling program. Allegiant released results from its seven-hole, 3,457-meter diamond core drill program within the high-grade zone at Eastside. The drill program targeted deeper high-grade gold-silver mineralization within the core of the Eastside Rhyolite complex as well as deeper portions of the contact between the rhyolite complex and the surrounding volcanic host rocks. The program followed up on high-grade results identified in 2021 reverse circulation (RC) drilling, including Holes ES-239 and ES-243.

Results reaffirm presence of high-grade zones. The program confirmed high-grade gold-silver mineralization that was observed in earlier drill Holes ES-239 and ES-243 and the occurrence of high-grade zones within the Eastside Deposit’s rhyolite host rock. Hole ES-280 returned 9.9 grams of gold per tonne over 1.5 meters and 5.3 grams of gold per tonne over 1.5 meters within a broader intercept of 0.63 grams of gold per tonne over 99 meters. Holes ES-281 and ES-282 returned 1 gram of gold per tonne over 12 meters and 49 meters, respectively, while Hole ES-285 intersected 2 grams of gold over 9 meters within a broader intercept of 0.46 grams of gold per tonne over 105 meters.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Maple Gold Mines (MGMLF) – On to Something Big

Posted on by cpereira@noblefcm.com


Friday, December 02, 2022

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

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

Going for the gold. Maple Gold released results from drilling completed at the Douay Gold Project during the first half of 2022 totaling 7,800 meters. Douay is held by a 50/50 joint venture between the company and Agnico Eagle Mines Limited. The first year of drilling focused primarily on infill drilling. The second year focused on “quantum leap” style exploration with additional step-outs, deep drilling, and testing discovery targets. The same approach will be taken next year to define the extent and potential of the mineralized system at Douay. An additional ~10,000 meters of drilling has been completed at the Eagle and Telbel mine properties with assays pending.

Favorable drill results. Ten of twelve holes returned intercepts over 0.45 grams of gold per tonne, and seven returned intercepts greater than 1.0 gram of gold per tonne. Hole DO-22-322A in the Nika Zone intersected 9.8 grams of gold over 1 meter from 584 meters depth along with other positive intercepts that support depth continuity of the intrusive hydrothermal gold system at Douay. Sediment-hosted gold showings at the NE IP Target provided support for a new gold zone four kilometers to the northeast of the current Douay mineral resource area. Hole DO-22-326 in the Central Zone returned four intercepts greater than 1 gram of gold per tonne, including 3.0 grams of gold per tonne over 1.0 meter from only 67 meters downhole.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Labrador Gold Corp. (NKOSF) – Assay Results Highlight High Grade Zone Expansion at Big Vein Southwest

Posted on by cpereira@noblefcm.com


Tuesday, November 29, 2022

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

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

Big Vein target continues to impress. Labrador Gold released results from recent drilling associated with its 100,000-meter drill program at its 100%-owned Kingsway gold project targeting the Appleton Fault Zone over a 12-kilometer strike length. A total of 61,404 meters have been drilled to date out of the planned 100,000-meter program. Assays are pending for samples from approximately 4,263 meters of core, or 11.4% of the total submitted. Drilling outcomes have been favorable at both ends of the Big Vein target, while a high-grade zone containing visible gold at Big Vein Southwest continues to demonstrate expansion potential. Two drill rigs are deployed at Big Vein to test for extensions of the mineralization to the northeast and southwest.

High grade gold intercepts. Hole K-22-211 intersected 8.60 grams of gold per tonne over 4.41 meters from 326.89 meters depth, including 53.52 grams of gold per tonne over 0.31 meters. Hole K-22-207, drilled in Big Vein Southwest, returned 1.31 grams of gold per tonne over 7 meters from 270 meters depth, including 8.49 grams of gold per tonne over 0.91 meters. Hole K-22-202, drilled at the northeast end of Big Vein, intersected 5.68 grams of gold per tonne over 2.65 meters from 189.7 meters depth that included 18.27 grams of gold per tonne over 0.78 meters.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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 – Labrador Gold Intersects 23.44g/t Au over 1.27 Metres at Big Vein Southwest

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on NKOSF

NOVEMBER 28, 2022

TORONTO, Nov. 28, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce results from recent drilling targeting the prospective Appleton Fault Zone over a 12km strike length. The drilling is part of the Company’s ongoing 100,000 metre diamond drilling program at its 100% owned Kingsway Project.

Highlights of the drilling include an intersection of 8.60g/t Au over 4.41 metres from 326.89 metres that included 53.52g/t Au over 0.31 metres in Hole K-22-211 that contains visible gold, and 1.31g/t Au over 7 metres from 270 metres including 8.49g/t Au over 0.91 metres in Hole K-22-207 from Big Vein Southwest. Hole K-22-202, drilled at the northeast end of Big Vein, intersected 5.68g/t Au over 2.65 metres from 189.7 metres that included 18.27g/t Au over 0.78 metres.

Hole K-22-211 was collared 40 metres southwest of Hole K-22-174 that intersected 284.1 g/t Au over 0.58 metres and 15.05g/t Au over 1.11 metres (see News Release dated July 7, 2022) and extends the mineralized zone further to the Southwest.

“We continue to have drilling success at both ends of Big Vein which has now been drilled over a strike length of approximately 520 metres and remains open in both directions. In particular, the high grade zone containing visible gold at Big Vein Southwest continues to expand,” said Roger Moss, President and CEO. “Two drill rigs continue drilling at Big Vein to test for extensions of the mineralization in both directions. Drilling will continue through the winter.”

Table 1. Summary of assay results. All intersections are downhole length as there is insufficient Information to calculate true width.

Figure 1. Visible gold in Hole K-22-211.
https://www.globenewswire.com/NewsRoom/AttachmentNg/03572774-0511-4519-bf5e-5b6043993756

Figure 2. Big Vein plan map.
https://www.globenewswire.com/NewsRoom/AttachmentNg/902bb7b2-45ed-49bb-b988-35872c854fbe


A total of 61,404 metres have been drilled to date out of the planned 100,000 metre program. Assays are pending for samples from approximately 4,263 metres of core (11.4% of the total submitted).

The Company has $20 million in cash and is well funded to carry out the remaining 39,000 metres of the planned drill program as well as further exploration to add to the pipeline of drill targets on the property.

Table 2. Drill hole collar details

QA/QC

True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with atomic absorption finish as well as by ICP-OES for an additional 34 elements. Samples containing visible gold are assayed by metallic screen/fire assay, as are any samples with fire assay results greater than 1g/t Au. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.

Qualified Person

Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.

The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.

About Labrador Gold
Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.

Labrador Gold’s flagship property is the 100% owned Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 100,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone with encouraging results. The Company has approximately $20 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25 th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

The Company has 169,189,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.

For more information please contact:
Roger Moss, President and CEO      Tel: 416-704-8291

Or visit our website at: www.labradorgold.com

Twitter @LabGoldCorp

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

Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Michael Burry Appears Negative on Cryptocurrency and Positive on Gold Investments

Posted on by phoffman@channelchek.com
Image Credit: Michael Steinberg (Pexels)

If Cryptocurrency is not the Safe Haven it was Expected to Be, Will Assets Move Into Gold Investments?

In addition to any information discovered from Michael Burry’s 13F filing earlier this week, he’s been coming out in support of gold. He seems to expect that those that were seeking a “safe harbor investment” in various crypto-related investments are now having a change of mind. Despite his long positions held on September 30 and made public on November 14, he has teased that he could be extremely short the market; presumably, this could include any tradeable asset when you’re an investment analyst of this caliber.

Will Investors Rediscover Gold?

“Long thought that the time for gold would be when crypto scandals merge into contagion,” Burry wrote in a tweet this week.

@michaeljburry

The financial pressures spreading across the crypto industry that have helped destroy the crypto exchange FTX and exposed characters like Sam Bankman-Fried that may have been given too much trust, are causing reduced trust in digital assets.

Supporters and believers in the benefit of crypto had been using bitcoin and other tokens as a means of storage outside of securities. Their expectation has been that crypto is superior as a store of value during periods of inflation, currency depreciation, and economic turmoil.

Crypto prices have not offered much protection against plunging stock, bond, and real estate values. In fact, relative to the strong US dollar, crypto’s value has fallen off a cliff, offering no protection. The overall outstanding crypto worth has gone from $2.2 trillion to around $830 billion. Gold has not been rising during this period, but relative to US dollars, it is down only 3%. 

Burry’s likely message is that the escalating cryptocurrency negatives will reduce demand for coins, yet demand for a safe haven asset would not be reduced. This could make gold again one of the only games in town for investors looking to protect against asset erosion.

Is Burry Short?

“You have no idea how short I am,” Burry said in a tweet this week.

@michaeljburry

He does not say he is short at all in this tweet. However, against the backdrop of many previous tweets warning against a market he believes will become more bearish, coupled with a holding report released that has five long holdings, the hedge fund manager of The Big Short fame is likely warning investors not to read too much positive into his fund’s holdings report.  That report was released just before the tweet.

The value of long securities held in his roughly $292 million AUM was $41 million. As he demonstrated during the financial crisis, there are non-publicly reported ways to be short, even short beyond your AUM. Fund managers with assets over $100 million only have to disclose US-listed stocks in their 13F filings with the SEC each quarter. Excluded in the reporting are shares sold short, overseas-listed stocks, and other assets such as commodities.

In actuality, Burry’s increased positions in prison stocks and exposure to the company involved in making Artemis’ rocket boosters is more likely a sign that he likes the prospects of some companies while at the same time doesn’t like the broader market outlook.

Positive Tweets

In addition to his positive tweet on gold, Burry has suggested the Federal Reserve’s interest-rate hikes, which have weighed on market prices, could end in the spring. This was reflected in his October 24 tweet “Still think the Fed back off on QT early next year.”

Investing in Gold

Investors that look to gain exposure to gold, will typically buy gold bullion, gold funds, gold futures, and the stocks of gold mining companies. All have unique advantages. Investors looking to research junior miners of gold and other precious metals and natural resources, find Channelchek as an excellent resource to discover and research many different unique, actionable possibilities. Start here.

Paul Hoffman

Managing Editor, Channelchek

Release – Element79 Gold Enters Letters of Intent to Sell Five Properties from Nevada Gold Portfolio

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on ELMGF

(TheNewswire)

Vancouver, BC – TheNewswire – November 17, 2022 – Element79 Gold Corp. ( CSE:ELEM) (OTC:ELMGF) (FSE:7YS) (” Element79 Gold “, the ” Company “) today announced it has entered non-binding letters of intent (the ” Centra LOI ” and ” Valdo LOI ” respectively) with Centra Mining Ltd. (” Centra “) and Valdo Minerals Ltd. (” Valdo “), whereby the Company intends to sell a total of five properties from its Battle Mountain Portfolio, which is comprised of fifteen properties located in the famous gold mining district of northeastern Nevada, USA.

The properties being considered for sale include:

  • The Long Peak Project: 34 unpatented claims in Lander County
  • The Stargo Project: 337 unpatented claims in Nye County
  • The Elder Creek Project: 23 unpatented claims in Lander County
  • The North Mill Creek Project: 6 unpatented claims in Lander County
  • The Elephant Project: 197 unpatented claims in Lander County

“The potential sale of these claim blocks would allow Element79 Gold to continue unlocking additional value from our vast portfolio of prospective properties while maintaining our established focus on the rapid pace of development at our primary high-grade gold assets,” stated James Tworek, President and CEO of Element79 Gold. “Overall, we believe the Battle Mountain Portfolio contains several additional targets which warrant extensive exploration and prospecting to further validate historic high-grade samples.  Selling some of the portfolio has been a corporate strategy point and this is a great opportunity that allows us both unlock value for our shareholders and to focus our energy on our core projects.”

The Long Peak Project

The Long Peak Project (” Long Peak “) is comprised of 34 unpatented claims located near Copper Basin and the Copper Canyon Mine in Lander County, Nevada. Long Peak hosts significant historic prospects, warranting further exploration at Long Peak.

The Stargo Project

The Stargo Project (” Stargo “) is comprised of 337 unpatented claims located south of the Battle Mountain Trend in Nye County, Nevada.The large claim block contains attractive host rocks, tertiary age intrusives, and appropriate aged structural preparation to represent an attractive area for exploration target development.

The North Mill Creek Project

The North Mill Creek Project (” North Mill Creek “) is comprised of 6 unpatented claims located at the margins of the Goat Window in Lander County, Nevada. The Goat Window is an exposure of lower plate rocks beneath the Roberts Mountains Thrust which are the preferred carbonate host of Carlin-type gold deposits. Previous drilling completed at North Mill Creek yielded encouraging results warranting follow-up exploration.

The Elder Creek Project

The Elder Creek Project (” Elder Creek “) is comprised of 23 unpatented claims which cover the historic Elder Creek open-pit mine in Lander County, Nevada. Elder Creek is hosted in upper plate rocks where the mine area is believed to represent leakage from the deeper lower plate of the Roberts Mountains Thrust, suggesting that deeper targets could host significant mineralization within faulted and anticline folded sedimentary beds.

The Elephant Project

The Elephant Project (” Elephant “) is comprised of 197 claims located at the foot of the mine dumps at Nevada Gold Mines’ Phoenix operation. Elephant hosts a covered pediment target with various depths of cover based on the displacement of fault blocks. Limited past drilling has confirmed the presence and mineralization of the Elephant target model.

Terms of The Centra LOI

Under the terms of the Centra LOI, it is anticipated that Centra would purchase all of Element79 Gold’s interests and obligations in relation to Long Peak, and Stargo in exchange for a total consideration of $1,000,000 CAD payable by the issuance of an aggregate of 2,500,000 common shares of Centra at a deemed price of $0.40 CAD per share. The Centra LOI is non-binding and is subject to a 180-day exclusivity period.

Terms of the Valdo LOI

Under the terms of the Valdo LOI, it is anticipated that Valdo would purchase all of Element79 Gold’s interests and obligations in relation to North Mill Creek, Elder Creek, and Elephant in exchange for a total consideration of $1,125,000 CAD payable by the issuance of an aggregate of 3,750,000 common shares of Centra at a deemed price of $0.30 CAD per share. The Valdo LOI is non-binding and is subject to a 180-day exclusivity period.

Qualified Person

The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Director of Element79 Gold and a “qualified person” as defined by National Instrument 43-101.

About Element79 Gold

Element79 Gold is a mineral exploration company focused on the acquisition, exploration and development of mining properties for gold and associated metals. Element79 Gold has acquired its flagship Maverick Springs Project located in the famous gold mining district of northeastern Nevada, USA, between the Elko and White Pine Counties, where it has recently completed a 43-101-compliant, pit-constrained mineral resource estimate reflecting an Inferred resource of 3.71 million ounces of gold equivalent* “AuEq” at a grade of 0.92 g/t AuEq (0.34 g/t Au and 43.4 g/t Ag)) with an effective date of Oct. 7, 2021 (see news release January 31st, 2022, available on SEDAR). The acquisition of the Maverick Springs Project also included a portfolio of 15 properties along the Battle Mountain trend in Nevada, which the Company is analyzing for further merit of exploration, along with the potential for sale or spin-out. In British Columbia, Element79 Gold has executed a Letter of Intent to acquire a private company which holds the option to 100% interest of the Snowbird High-Grade Gold Project, which consists of 10 mineral claims located in Central British Columbia, approximately 20km west of Fort St. James. In Peru, Element79 Gold holds 100% interest in the past producing Lucero Mine, one of the highest-grade underground mines to be commercially mined in Peru’s history, as well as the past producing Machacala Mine. The Company also has an option to acquire 100% interest in the Dale Property which consists of 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, Canada in the Timmins Mining Division, Dale Township. For more information about the Company, please visit www.element79.gold or www.element79gold.com .

For corporate matters, please contact:

James C. Tworek, Chief Executive Officer

Email: jt@element79gold.com

For investor relations inquiries, please contact:

Investor Relations Department

Phone: +1 (604) 200-3608

Email: investors@element79gold.com

Cautionary Note Regarding Forward Looking Statements

This press contains “forward‐looking information” and “forward-looking statements” under applicable securities laws (collectively, “forward‐looking statements”). These statements relate to future events or the Company’s future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management’s experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: the Company’s plans for its portfolio of mining projects and properties; the Company’s business strategy; future planning processes; exploration activities; the timing and result of exploration activities; capital projects and exploration activities and the possible results thereof; any potential future cash flow and the timing thereof; acquisition opportunities; the impact of acquisitions, if any, on the Company. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, forward-looking statements cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward‐looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “forecast”, “potential”, “target”, “intend”, “could”, “might”, “should”, “believe” and similar expressions) are not statements of historical fact and may be “forward‐looking statements”.

Actual results may vary from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: the duration and effects of the coronavirus and COVID-19; risks related to the integration of acquisitions; actual results of exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; commodity prices; variations in ore reserves, grade or recovery rates; actual performance of plant, equipment or processes relative to specifications and expectations; accidents; labour relations; relations with local communities; changes in national or local governments; changes in applicable legislation or application thereof; delays in obtaining approvals or financing or in the completion of development or construction activities; exchange rate fluctuations; requirements for additional capital; government regulation; environmental risks; reclamation expenses; outcomes of pending litigation; limitations on insurance coverage as well as those factors discussed in the Company’s other public disclosure documents, available on www.sedar.com . Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company believes that the expectations reflected in these forward‐looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

Source: Element79 Gold

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

Copyright (c) 2022 TheNewswire – All rights reserved.

Coeur Mining (CDE) – Getting the Rochester Expansion Past the Finish Line

Posted on by cpereira@noblefcm.com


Wednesday, November 16, 2022

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

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

Third quarter 2022 results. Coeur reported a third quarter adjusted net loss of $44.7 million or $(0.16) per share compared to a net loss of $2.9 million or $(0.01) per share during the prior year period. We had forecast a net loss of $3.0 million or $(0.01) per share. Sales were lower and costs applicable to sales were higher than our estimates. Free cash flow was $(115.7) million. For the nine months ended September 30, the company generated adjusted EBITDA in the amount of $103.1 million and free cash flow of $(242.2) million.

Updating estimates. We have lowered our 2022 EBITDA and EPS estimates to $136.3 million and $(0.31), respectively, from $151.8 million and $(0.12). Revisions to our 2022 estimates reflect third quarter results and lower commodity price assumptions in the fourth quarter. Our 2023 estimates remain unchanged.


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This 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. 

Maple Gold Mines (MGMLF) – A Rising Star in the Abitibi Gold Belt

Posted on by cpereira@noblefcm.com


Monday, November 14, 2022

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

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

Maple Gold site visit. The company recently hosted a site visit for sell-side analysts and institutional investors. Mr. Matthew Hornor, CEO, and Mr. Fred Speidel, V.P. of Exploration provided a corporate update, including the company’s strategic priorities and an overview of the drilling program. The visit provided an opportunity to tour the property and core shack where participants were able to examine core samples and view technologies employed, including handheld/portable X-ray fluorescent (XRF) equipment.

Up to five rigs operating into 2023. Maple Gold recently secured a third drill rig to begin a 5,000-meter Phase III drill program at its 100%-controlled Eagle Mine property to follow up on the first two phases and test additional targets. Two rigs are deployed for the deep drilling program beneath and adjacent to historic underground mine workings in the Telbel area at the Joutel project, which is held in the company’s joint venture with Agnico Eagle Mines Limited. A 10,000-meter deep drilling program at Douay will commence in November with the deployment of a fourth rig. Management indicated that a fifth rig could be deployed at Douay.


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

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

The New Effort to Re-Anchor the US Dollar to US Gold Stock

Posted on by phoffman@channelchek.com
US Sailors, Coastal Riverine Group, Restoring Command Anchor with Gold Paint, Credit: US Pacific Fleet (Flickr)

Can the Dollar Once Again Be Anchored by Gold? One Congressman Believes It Can

On October 7, 2022, US congressman Alex Mooney (a Republican from West Virginia) introduced a bill (the Gold Standard Restoration Act, H.R. 9157) that stipulates that the US dollar must be backed by physical gold owned by the US Treasury. The initiative clearly indicates that the increasingly inflationary US dollar is triggering efforts to get better money.

It should be noted that there have already been many legislative changes to make precious metals more attractive as a means of payment in recent years: in many US states, the value-added and capital gains taxes on gold and silver, but also on platinum and palladium, have been abolished. Mr. Mooney’s proposal is divided into three sections.

The first section of the bill establishes the need for a return to a gold-backed US dollar. For example, it is said that the US dollar—or more precisely, the bill refers to “Federal Reserve Notes”—that is, banknotes issued by the US Federal Reserve (Fed)—has lost its purchasing power on a massive scale in the past: Since 2000, it has dropped by 30 percent, and since 1913 by 97 percent. The bill also argues that with an inflation target of 2 percent, the Fed will not preserve the purchasing power of the US dollar but will have it halved after just thirty-five years. Moreover, the bill points out that it is in the interest of US citizens and firms to have a “stable US dollar.” The bill highlights that the inflationary US dollar has been eroding the industrial base of the US economy, enriching the owners of financial assets, while endangering workers’ jobs, wages, and savings.

The second section of the bill describes in more detail the technical process for re-anchoring the US dollar to the US official gold stock. It states that (1) the US secretary of the Treasury must define the US dollar banknotes using a fixed fine gold weight thirty days after the law goes into effect, based on the closing price of the gold on that day. The Fed must (2) ensure that the US banknotes are redeemable for physical gold at the designated rate at the Fed. (3) If the banks of the Fed system fail to comply with peoples’ exchange requests, the exchange must be made by the US Treasury, and in return, the Treasury takes the Fed’s bank assets as collateral.

The third section specifies how a “fair” gold price in US dollar can develop in an orderly manner within thirty days after the bill has taken effect. To this end, (1) the US Treasury and the Fed must publish all of their gold holdings, disclosing all purchases, sales, swaps, leases, and all other gold transactions that have taken place since the “temporary” suspension of the redeemability of the US dollar into gold on August 15, 1971, under the Bretton Woods Agreement of 1944. In addition, (2) the US Treasury and the Fed must publicly disclose all gold redemptions and transfers in the 10 years preceding the “temporary” suspension of the US dollar’s gold redemption obligation on August 15, 1971.

What to Make of This?

The bill’s core is the idea of re-anchoring the US dollar to physical gold based on a fair gold price freely determined in the market. (By the way, this is an idea put forward by the economist Ludwig von Mises (1881–1973) in the early 1950s.) In this context, the bill refers to US banknotes. However, banknotes only comprise a (fractional) part of the total US dollar money supply. But since US bank deposits can be redeemed (at least in principle) in US banknotes, not only US dollar cash (coins and notes) could be exchanged for gold, but also the money supply M1 or M2 as fixed and savings deposits could be exchanged for sight deposits, and sight deposits, in turn, could be withdrawn in cash by customers, and the banknotes could then be exchanged for gold at the Fed.

As of August 2022, the stock of US cash (“currency in circulation”) amounted to $2,276.3 billion. Assuming that the official physical gold holdings of the US Treasury amount to 261.5 million troy ounces, and the market expected US cash to be backed by the official US gold stock, a gold price of about $8,700 per troy ounce would result. This would correspond to a 418 percent increase compared to the current gold price of $1,680. If, however, the market were to expect the entire US money supply M2 to be covered by the official US gold stock, then the price of gold would move toward $83,000 per troy ounce—an increase of 4.840 percent compared to the current gold price. Needless to say, such an appreciation of gold has far-reaching consequences.

All goods prices in US dollars can be expected to rise (perhaps to the extent that the price of gold has risen). After all, the purchasing power of the owners of gold has increased significantly. Therefore, they can be expected to use their increased purchasing power to buy other goods (such as consumer goods, but also stocks, houses, etc.). If this happens, the prices of these goods in US dollar terms will be pushed up—and thus, the initial purchasing power gain that the gold dollar holders have enjoyed by being tied to the increased gold price will melt away again. Moreover, if US banks were willing to accept additional gold from the public in exchange for issuing new US dollar, reanchoring the US dollar in gold would increase the upward price effect.

A re-anchoring of the US dollar in the US official gold stock will result in a far-reaching redistribution of income and wealth. In fact, it would be fatal for the outstanding US dollar debt: US dollar goods prices would rise, caused by a rise in the US dollar gold price at which the US dollar is redeemable for physical gold, thereby eroding the US dollar’s purchasing power. In the foreign exchange markets, the US dollar would probably appreciate drastically against those currencies that are not backed by gold and against currencies which are backed by gold, not as fine compared to the fineness of the gold backing of the US dollar. The purchasing power of the US dollar abroad would increase sharply, while the US export economy would suffer. US goods would become correspondingly expensive abroad, while foreign companies gain high price competitiveness in the US market.

Once the US dollar is re-anchored in gold, today’s chronic inflation will end; monetary policy–induced boom-and-bust cycles will come to an end; the world will become more peaceful because financing a war in a gold-backed monetary system will be very expensive, and the general public will most likely not want to bear its costs. However, there is still room for improvement. A “Gold Standard Restoration Act” will deserve unconditional support if and when it paves the way toward a truly “free market for money.” A free market in money means that you and I have the freedom to choose the kind of money we believe serves our purposes best; and that people are free to offer their fellow human beings a good that they voluntarily choose to use as money.

In a truly free market, people will choose the good they want to use as money. Most importantly, in a truly free market in money, the state (as we know it today) loses its influence on money and money production altogether. In fact, the state (and the special interest groups that exploit the state) no longer determine which kind of gold (coins and bars, cast or minted) can be used as money; the state is no longer active in the minting business and cannot monopolize it anymore; there is no longer a state-controlled central bank to intervene in the credit and money markets and influence market interest rates. That said, let us hope that the Gold Standard Restoration Act proposed by Mr. Mooney will pave the way to reforming the US dollar currency system—and that it will eventually move us toward a truly free market in money.

About the Author

Dr. Thorsten Polleit is the Chief Economist of Degussa and an Honorary Professor at the University of Bayreuth. He also acts as an investment advisor.

Labrador Gold Corp. (NKOSF) – Big Vein Target Continues to Deliver

Posted on by cpereira@noblefcm.com


Friday, October 21, 2022

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

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

Drilling continues at the Big Vein target. Labrador Gold released results from recent drilling associated with its 100,000-meter drill program at its 100%-owned Kingsway gold project targeting the Appleton Fault Zone over a 12-kilometer strike length. A total of 58,265 meters have been drilled to date with assays pending for samples from approximately 3,100 meters of core. Currently, one rig is drilling at the Golden Glove target while two rigs are drilling at Big Vein to test for extensions of mineralization in both directions. With drilling at the CSAMT target completed, a third rig is being deployed at Big Vein.

High grade assay results. Hole K-22-190 from the north end of Big Vein returned an intersection of 30.67 grams of gold per tonne over 1.1 meters from 208.85 meters depth that included 99.31 grams of gold over 0.3 meters. At Big Vein Southwest, Hole K-22-184 intersected 4.67 grams of gold per tonne over 1.64 meters from 336.25 meters depth that included 8.97 grams of gold per tonne over 0.75 meters. Drilling has returned several significant intercepts at the north end of Big Vein, including 6.07 grams of gold per tonne over 19 meters in Hole K-21-111. Results from Hole K-22-190 underscore the high-grade prospectivity of the area.


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

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

Ready or Not, Here Come CBDCs

Posted on by aweinsoff@channelchek.com
Image Source: usfunds.com

Central Bank Digital Currencies May Be Inevitable, And That’s a Problem

Readers of a certain age will remember Carnac the Magnificent, Johnny Carson’s recurring alter ego. As Carnac, the late-night host would list off three seemingly unrelated words, all of which answered a question that was sealed in an envelope that he held to his forehead.

Today we’re going to play the same game, with the answers being PayPal, Kanye (or Ye, as he’s now known) and central bank digital currencies (CBDCs). And the question: What are the consequences of financial hyper-centralization?

Some of you will make the connections immediately. For everyone else, let me explain.

PayPal, the financial technology (fintech) firm cofounded over 20 years ago by Peter Thiel, Elon Musk and others, was roundly criticized last week after an update to its terms of service showed that the company would fine users $2,500 for, among other things, spreading “misinformation.” A PayPal spokesperson was quick to walk back the update, even claiming that the language “was never intended to be inserted in our policy,” but the damage was done. #DeletePayPal started trending on Twitter, and the company’s stock tanked nearly 12%.

As for Ye, he and his apparel brand Yeezy were reportedly dropped last week by JPMorgan Chase. In a letter widely shared on social media, JPMorgan says Ye has until November 21 to move his business finances elsewhere.

No reason was given by the bank to cut ties with the billionaire rapper, but it’s easy to surmise that Ye was targeted for his political beliefs and outspokenness. I don’t agree with everything he says, nor should you. He’s a controversial figure, and his comments are often erratic and designed to get a rise out of his critics. I’m not sure, though, that this should have anything to do with his access to banking services.

The two cases of PayPal and Ye represent what I believe are legitimate and mounting concerns surrounding centralized finance. Admittedly, Ye is an extreme example. He’s a multiplatinum recording artist with tens of millions of social media followers. But there’s a real fear among everyday people that they too can be fined or have their accounts frozen or canceled at any time for expressing nonconformist views.

This article was republished with permission from Frank Talk, a CEO Blog by Frank Holmes of U.S. Global Investors (GROW). Find more of Frank’s articles here – Originally published October 19, 2022

CBDCs Are Inevitable

That brings me to CBDCs. I was in Europe last week where I attended the Bitcoin Amsterdam conference, and I was honored to participate on a lively panel that was aptly titled “The Specter of CBDCs.”

As I told the audience, I believe CBDCs are inevitable, ready or not. There are too many perceived benefits. These currencies offer broad public access and instant settlements, streamline cross-border payments, preserve the dominance of a nation’s currency and reduce the operational costs of maintaining physical cash. Here in the U.S., millions upon millions of dollars’ worth of bills and coins are lost or accidentally thrown away every year. CBDCs would solve this problem. 

An estimated 90% of the world’s central banks currently have CBDC plans somewhere in the pipeline. As I write this, only two countries have officially launched their own digital currencies—the Bahamas with its Sand Dollar, and Nigeria with its eNaira—but expect many more to follow in the coming years. China, the world’s second largest economy, has been piloting its own CBDC for a couple of years now, and India, the seventh largest, released a report last week laying out the “planned features of the digital Rupee.” A pilot program of the currency is expected to begin “soon.” And speaking at an annual International Monetary Fund (IMF) meeting, Treasury Secretary Janet Yellen said that the U.S. should be “in a position where we could issue” a CBDC.

CBDCs Improve Bitcoin’s Use Case

Due to the centralized nature of CBDCs, however, there are a number of concerns that give many people pause. Unlike Bitcoin, which is decentralized and anonymous, CBDCs raise questions about privacy, government interference and manipulation.

In the White House’s own review of digital currencies, issued last month, policymakers write that a potential U.S. coin system should “promote compliance with” anti-money laundering (AML) and counter-terrorist financing (CFT) laws. Such a system should also “prevent the use of CBDC in ways that violate civil or human rights.” Further, it should be sustainable; that is, it should “minimize energy use, resources use, greenhouse gas emissions, other pollution and environmental impacts on local communities.”

Nothing about this sounds inherently nefarious, but then, some of us may have said the same thing about PayPal’s “misinformation” policy (whether intended or not) and JPMorgan’s decision to end its relationship with a polarizing celebrity.

I believe this only improves Bitcoin’s use case, especially if we’re headed for a digital future.

Worst 60/40 Portfolio Returns In 100 Years

With only a little over 50 trading days left in 2022, it looks more and more likely that this will be among the very worst years in history for investing. Since World War II, there have been only three instances, in 1974, 2002 and 2008, when the S&P 500 ended the year down more than 20%. If 2022 ended today, it would mark only the fourth time.  

Here’s another way to visualize it. The scatter plot below shows annual returns for the S&P 500 (horizontal axis) and U.S. bonds (vertical axis). As you can see, 2022 falls in the most undesirable quadrant along with the years 1931, 1941 and 1969. Not only have stocks been knocked down, but so have bond prices as the Fed continues to hike rates at an historically fast pace.   

What this means is that the traditional “60/40” portfolio—composed of 60% stocks and 40% bonds—now faces its worst year in 100 years, according to Bank of America.

My takeaway is that diversification matters more now than perhaps in any other time in recent memory. Real assets like gold and silver look very attractive right now. Real estate is an option. And Bitcoin continues to trade at a discount. Diversification doesn’t ensure a positive return, but it could potentially spell the difference between losing a little and losing a lot.

You can watch the panel discussion at Bitcoin Amsterdam featuring Frank Holmes by clicking here!

All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor. By clicking the link(s) above, you will be directed to a third-party website(s). U.S. Global Investors does not endorse all information supplied by this/these website(s) and is not responsible for its/their content.

The S&P 500 Stock Index is a widely recognized capitalization-weighted index of 500 common stock prices in U.S. companies. Diversification does not protect an investor from market risks and does not assure a profit.

Holdings may change daily. Holdings are reported as of the most recent quarter-end. None of the securities mentioned in the article were held by any accounts managed by U.S. Global Investors as of 9/30/2022.

Release – Maple Gold Secures Third Drill Rig to Commence Phase III Drilling at Eagle and Remains on Track to Complete 30,000 Metres Across Its Quebec Project Portfolio by Year-End

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on MGMLF

Vancouver, British Columbia–(Newsfile Corp. – October 7, 2022) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to announce that a third drill rig has been secured to commence a 5,000 metre (“m”) Phase III drill program at its 100%-controlled Eagle Mine Property (“Eagle”). The third rig is expected to arrive at site by mid-October, keeping the Company on track to complete approximately 30,000 m across its district-scale 400 km2 property package in Québec, Canada by year-end. Further to the Company’s news release on August 3, 2022, two (2) rigs are now turning on deep drill holes beneath and adjacent to the historical underground mine workings in the Telbel mine area (“Telbel”) at the Joutel Project (“Joutel”), which is held by a 50/50 joint venture (“JV”) between Maple Gold and Agnico Eagle Mines Limited. In addition, the Company expects to secure a fourth drill rig in November to commence deep drilling at the JV’s Douay Project (“Douay”).

The Company is also pleased to announce that it has resolved the electrical issues at site that affected its core saws, effectively removing its core cutting backlog and enabling several large batches of samples from previously completed drilling to be sent to the assay labs.

“We are excited to commence Phase III drilling at Eagle that will follow up on the best results of the first two drilling phases and test additional targets while we are also ramping up the pace of our supplemental C$4.8M deep drilling program at Douay and Joutel,” stated Matthew Hornor, President and CEO of Maple Gold. “With normal site operations now restored, our backlog of core splitting and sample shipments has been effectively eliminated and we anticipate additional assay results throughout Q4 2022. The Company expects to be continuously drilling more aggressive step-out and deep drill holes at Douay, Joutel and Eagle with at least three rigs from mid-October through the end of Q1 2023.”

Deep Drilling Progress

Deep drilling at Telbel is progressing steadily with two (2) drill rigs actively testing the down-plunge continuity of gold mineralization in this area. Drill hole TB-22-001 (drilled from south to north) is approaching 1,500 m downhole and has encountered a broad near-surface zone of felsic-pyroclastic-hosted pyrite mineralization enroute to a planned total downhole depth of 2,000 m (see Figure 1 for all drill hole locations). Initial samples from TB-22-001 have already been shipped to the assay lab. Drill hole TB-22-002 (drilled from north to south) is collared 2.4 km to the east of TB-22-001 and is currently nearing 900 m downhole.

In addition, the Company anticipates commencing a ~10,000 m deep drilling program at Douay with a fourth drill rig in November. The JV has approved a combined ~16,000 m of deep drilling at Douay and Telbel under the previously announced C$4.8M increase to its Year Two exploration budget (see news from May 18, 2022).

New Exploration Drillhole Completed at Douay

The Company has also recently completed a new 534 m exploration drill hole at Douay (DO-22-330) collared approximately four (4) km south of the 531 Zone along the regional Casa Berardi South Fault, locally known as the Joutel Deformation Zone (“JDZ”) (see Figure 1). The JDZ has seen very limited drilling to-date in this area, with only a single historical drill hole over a nine (9) km segment of this structural corridor. The Company’s recently completed airborne magnetic and electromagnetic (“Mag-EM”) survey identified several conductive targets along trend to the southwest on the Joutel property (see news from July 19, 2022) providing further support for the JDZ as a favourable structural corridor for hosting gold mineralization. Initial drill core observations from DO-22-330 highlight the potential for Casa-Berardi style gold mineralization associated with brecciated and pyritic quartz veins in graphitic fault zones.


Figure 1:Douay and Telbel drill collars on geologic base map. Note close association of broad gold targets with Casa Berardi North Fault in the Douay resource area; gold targets in the Eagle-Telbel area are similarly associated with the Joutel and Harricana Deformation Zones.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3077/139814_fae1e3fa647dcb27_001full.jpg

Qualified Person

The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Fred Speidel, M. Sc., P. Geo., Vice-President Exploration of Maple Gold. Mr. Speidel is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Speidel has verified the data related to the exploration information disclosed in this press release through his direct participation in the work.

About Maple Gold

Maple Gold Mines Ltd. is a Canadian advanced exploration company in a 50/50 joint venture with Agnico Eagle Mines Limited to jointly advance the district-scale Douay and Joutel gold projects located in Québec’s prolific Abitibi Greenstone Gold Belt. The projects benefit from exceptional infrastructure access and boast ~400 km2 of highly prospective ground including an established gold resource at Douay (SLR 2022) that holds significant expansion potential as well as the past-producing Eagle, Telbel and Eagle West mines at Joutel. In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property.

The district-scale property package also hosts a significant number of regional exploration targets along a 55 km strike length of the Casa Berardi Deformation Zone that have yet to be tested through drilling, making the project ripe for new gold and polymetallic discoveries. The Company is well capitalized and is currently focused on carrying out exploration and drill programs to grow resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi. For more information, please visit www.maplegoldmines.com.

ON BEHALF OF MAPLE GOLD MINES LTD.

“Matthew Hornor”

B. Matthew Hornor, President & CEO

For Further Information Please Contact:

Mr. Joness Lang
Executive Vice-President
Cell: 778.686.6836
Email: jlang@maplegoldmines.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 PRESS RELEASE.

Forward-Looking Statements:
This press release contains “forward-looking information” and “forward-looking statements” (collectively referred to as “forward-looking statements”) within the meaning of applicable Canadian securities legislation in Canada, including statements about exploration work and results from current and future work programs. Forward-looking statements are based on assumptions, uncertainties and management’s best estimate of future events. Actual events or results could differ materially from the Company’s expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Maple Gold Mines Ltd.’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.maplegoldmines.com. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/139814