Tag: Gold

Release – Allegiant Makes New Discovery At Eastside’s East Pediment and Stakes Additional Claims

Posted on by aweinsoff@channelchek.com

News, Research, and Market Data on AUXXF

Reno, Nevada /September 21, 2022 – Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is very pleased to announce a new discovery of mineralized rhyolite at the East Pediment, Eastside Project, Tonopah, Nevada. The new discovery has led the Company to stake an additional 194 mining claims in the immediate vicinity near Hole ES-258 within an area of similar geology.  

Eastside Project Highlights

  • Discovery of new mineralization with >0.1 g/t Au over 51.5m including 7.5m averaging 1.3g/t Au
  • Staking of additional 194 federal lode mining claims near hole ES-258
  • Follow-up reverse circulation (“RC”) drilling program to commence in October 2022
  • Ongoing deep diamond drill core program in the Original Pit Zone (“OPZ”)
  • Project wide airborne magnetic survey to be conducted in < 6 weeks

Peter Gianulis, CEO of Allegiant Gold, commented: “We are excited to have made a new discovery outside of the OPZ at Eastside from this recently completed RC drill program.  In continuation to our philosophy that exploration drilling is key to making new discoveries, we were proud to have completed this extended exploration program intended to expand the resource potential at Eastside. The project continues to surprise us, we believe that additional discoveries will be made as we conduct additional exploration including the current 4,000m DDH program upon which we are focused.”

The Company has also staked an additional 194 claims that it believes are of strategic importance in relation to our new discovery (see Map 1). 

The OPZ at Eastside presently hosts a current NI 43-101 pit-constrained Inferred resource of 1.1 million ounces of gold and 8.7 million ounces of silver* and is open at depth and to the south, east and west. 

Allegiant completed a 31-hole, 7,800 metre RC drill program focusing on two areas outside the OPZ focusing on the East Pediment and Western Anomaly areas.  21 holes were drilled at the East Pediment at an average depth of 203 meters and 11 holes were drilled at the Western Anomaly at an average depth of 223 meters (see Map 2 for additional information). The Company has contracted Boart Longyear to conduct a follow-up RC program consisting of approximately 20 holes for a total of 5000 additional meters.  The rig is expected to arrive on site on, or around, October 20, 2022. 

Geological Comment

 
Andy Wallace, Chief Geologist of Allegiant Gold, commented “Allegiant returned to purely exploration drilling for the 2022 RC drilling campaign at Eastside after several years of drilling on the OPZ. To date, exploration targets at Eastside that had been defined by surface sampling, lithologic and alteration mapping, and geophysics, remained untested. The first two of these targets to be tested in 2022 were the East Pediment and the West Anomaly.

The drilling of 21 exploratory holes on the East Pediment focused on resistivity highs identified by CSAMT geophysical surveys; the OPZ is associated with resistivity highs. Most of the East Pediment resistivity highs were associated with dacite plugs which were unmineralized, however one high was formed by rhyolite identical to the principal host rock at the OPZ. This rhyolite was mineralized; assays returned gold values above 0.1 g/t over 51.5 meters of the 242-meter length of drill hole ES-258. Intercepts include: 86.4 to 93.9 meters averaging 1.3 g/t Au, including 86.4 to 87.9 meters averaging 4.4 g/t Au, along with 197 to 229 meters averaging 0.28 g/t Au.  The mineralization in this hole is open in all directions with the other nearest drill holes being 500 meters to the northeast and southeast; gold mineralization is also open at depth as the bottom of hole ES-258 returned 4.5 meters averaging 0.25 g/t Au. Allegiant considers this hole to be a new gold discovery that has no offset drilling. The volume and grade of gold mineralization is not yet known and requires follow-up exploration drilling.”

Eleven holes were drilled at the West Anomaly; most of the holes encountered anomalous gold within thick zones of >35 meters of alteration associated with anomalous silver. The best intercepts were 34.8 to 45.4 meters averaging 0.93 g/t Au in ES-268 and 76.7 to 83.8 meters averaging of 1.4 g/t Au in ES-264.
 
The East Pediment discovery hole opens up a large area for future exploration and the Company is planning to drill a grid pattern of offset holes in all directions around ES-258 in late October 2022. The Company has also contracted an airborne magnetometer survey over the East Pediment, the OPZ, the West Anomaly area and South Zone targets, which have yet to have any drilling; the survey is scheduled to commence within the next six weeks.
 
Allegiant has also recently staked 194 new federal lode mining claims covering the parts of the pediment interpreted to have shallow overburden. The contiguous Eastside land package now totals 1,252 claims (25,040 acres or approximately 39.1 square miles) stretching from the OPZ south to the Boss/Castle area.


Map 1: Location Map with New Claims
https://allegiantgold.com/site/assets/files/2209/alg_eastsideproject_220920v2.jpg
 
Map 2: Location of RC drill holes incl ES-258
https://allegiantgold.com/site/assets/files/2209/alg_eastside_project_220919.jpg
 

 * The updated resource estimate (“Updated Resource Estimate and NI 43-101 Technical Report, Eastside and Castle Gold-Silver Project Technical Report, Esmeralda County, Nevada”) conducted by Mine Development Associates (“MDA”) of Reno, Nevada, with an effective date of July 30, 2021, contained a pit-constrained Inferred Resources (cut-off grade of 0.15 g/t Au) of  61,730,000 tonnes grading 0.55 g/t Au and  4.4 g/t Ag at the Original Pit Zone (1,090,000 ounces gold and 8,700,000 ounces silver) and  19,986,000 tonnes grading 0.49 g/t Au at the Castle Area (314,000 ounces gold). A copy of the Eastside Technical Report can be found on SEDAR at www.sedar.com. 


QUALIFIED PERSON

Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is the Qualified Person under NI 43-101, Standards of Disclosure for Mineral Projects, who has reviewed and approved the scientific and technical content of this press release. 

ABOUT ALLEGIANT

Allegiant owns 100% of 7 highly-prospective gold projects in the United States, 5 of which are located in the mining-friendly jurisdiction of Nevada. Four 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.

ON BEHALF OF THE BOARD

Peter Gianulis
CEO

For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364
ir@allegiantgold.com


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.

Certain statements and information contained in this press release constitute “forward-looking statements” within the meaning of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws, which are referred to collectively as “forward-looking statements”. The United States Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. Allegiant Gold Ltd.’s (“Allegiant”) exploration plans for its gold exploration properties, the drill program at Allegiant’s Eastside project, the preparation and publication of an updated resource estimate in respect of the Original Zone at the Eastside project, Allegiant’s future exploration and development plans, including anticipated costs and timing thereof; Allegiant’s plans for growth through exploration activities, acquisitions or otherwise; and expectations regarding future maintenance and capital expenditures, and working capital requirements.  Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.  Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance

Release – Element79 Gold Confirms Debt Settlement and Promissory Note

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on ELMGF

Vancouver, BC – TheNewswire – September 19, 2022 – Element79 Gold Corp. ( CSE:ELEM ) ( OTC:ELMGF ) (FSE:7YS) (” Element79 Gold “, the ” Company “) has entered into a debt settlement agreements (the “ Debt Settlement Agreements ”) with certain creditors (the “ Creditors ”) to settle an aggregate indebtedness of $951,166.69 the Creditors accept 1,654,552 Common Shares in the capital of Element79 Gold, subject to a four-month plus one day hold period. The effective date of the Debt Settlement Agreement was initiated on September 15, 2022.

Clarification of Previous Crescita Capital Drawdowns

On August 9, 2022, Element79 Gold entered into a letter agreement (the ” Letter Agreement “) confirming the agreement between Crescita and the Company with respect to the status of certain funds advanced pursuant to an investment and advisory agreement dated September 14, 2020 between the Investor and the Company (the ” Investment and Advisory Agreement “), as amended on May 2, 2022 (” Amendment to Investment and Advisory Agreement “, and together with the Investment and Advisory Agreement, the ” Amended Agreement “). Pursuant to the Amended Agreement, of the funds advanced to the Company during 2021, $2,500,000 have not, to date, resulted in a drawdown of common shares of the Company (” Common Shares “) under the Amended Agreement (the ” Outstanding 2021 Funds “).

The Investor and the Company have agreed that the Outstanding 2021 Funds will be treated as a reduction of the commitment under the Amended Agreement but that no Common Shares will be issued in respect of the Outstanding 2021 Funds and instead such funds shall be deemed to have been loaned to the Company on terms and conditions as set out in the form of the Promissory Note. In addition, to the Outstanding 2021 Funds, Crescita has advanced $950,000 to the Company under the original Investment and Advisory Agreement during 2022, prior to the Amendment to Investment and Advisory Agreement, and Common Shares will be issued in respect of these advanced funds. Since May 2 nd , 2022, Crescita has advanced an additional $720,000 under the Amended Agreement but no issuances of Common Shares have yet been made in respect of such advances. The total remaining commitment from Crescita to Element79 Gold amount under the Amended Agreement is $4,830,000.

Details of the Convertible Promissory Note

On July 18, 2022, the Company entered into a loan agreement (the ” Loan Agreement ” ) with Crescita for the principal sum of $2,500,000 (the ” Principal Amount “) via the sale of the Promissory Note. Element79 Gold shall pay interest on the Principal Amount at the rate of 6% per annum, accruing daily and payable in cash, or in shares at the maximum discounted price permitted by the Canadian Securities Exchange (the “Conversion Price”), on the date that is two years from the issue date of the Promissory Note (the “Maturity Date”). At any time after the issue date of the Promissory Note, but prior to the Maturity Date, the Principal Amount and any accrued and unpaid interest may be converted into shares, calculated at the Conversion Price. If any portion of the Principal Amount or any accrued interest remains outstanding fourteen days after the Maturity Date, then Element79 Gold will be required to convert all outstanding amounts into common shares, the total value of which, at the Conversion Price, shall equal the Principal Amount and all accrued and unpaid interest.

“Crescita has been a long-standing working partner, offering strong support for the Element79 Gold story since its inception, and has made tremendous contributions to the growth of the Company via their capital raising capabilities,” stated Mr. Tworek. “Their dedication has assisted Element79 Gold in confidently moving forward with the objective of achieving cash flow generation and self-sufficiency”.

All $ amounts herein are in Canadian dollars unless otherwise noted.

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 Feb. 4, 2022 (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 terms of the Offering price and the closing and perceived benefits thereof; the use of proceeds from the Offering; the Company’s plans for its portfolio of mining projects and properties; the Company’s business strategy; repayment and pricing thereof of loan proceeds; the effect on the dilution of the Company upon any repayment or future drawdown of the Amended Agreement; 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.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

Copyright (c) 2022 TheNewswire – All rights reserved.

There’s a Reason Gold is So Lackluster

Posted on by cpatches
Image Credit: Diane Aldrich (Flickr)

Despite Inflation, Gold Has Been on a Bumpy Road

Gold is among the first assets that come to mind when investors look to hedge against inflation. The U.S. and other nations are now experiencing the highest levels of inflation in forty years. As consumer prices continue to increase, gold, in all of its investible forms, has been trading down or sideways at best. Will its value pick up and catch up, or has it lost its shine as an inflation hedge?

Up is Down

In any market, the economic inputs impacting prices are many. One overriding factor that has been keeping gold prices at bay is inflation expectations. That’s right; it sounds counter-intuitive, but up is now down, and down is now up in the markets as investors look several steps out to determine their expectations. In this case, the steps follow this path:

Inflation >> Raising Rates >> Slower Economic Growth >> Recession = Low Inflation

Even during the weeks when the Federal Reserve’s monetary policy making board, the FOMC, meets and is universally expected to raise interest rates, longer rates on the treasury curve trade lower, not up. The markets are being very forward-looking and are more concerned with recession than inflation. I suspect this confounds the Fed’s efforts to slow growth and price pressures via rate increases that are being undermined by recession fears.

Gold is not seeing investors increasing their allocation of bullion, gold certificates, ETFs, gold mining companies, or any other assets linked to the price of gold, in large part because markets view the Fed as on a path to wipe out the economy and inflation. This was apparent last week as so-called meme stock AMC Theaters (AMC) shared a positive event related to their gold holdings, the stock traded down.

Dollar Strength

Outside of the U.S., expectations for a deep or deeper recession are growing. This week the German central bank (Bundesbank) said “There are mounting signs of a recession in the German economy in the sense of a clear broad-based and prolonged decline in economic output. This drives investment in the stronger U.S. economy.

In addition to viewing inflation as a reason for rates to be brought down,  global unrest and the U.S. central bank being perceived as tightening the most aggressively among trading partners has brought consistent strength to the U.S. dollar. When the performance of dollars and gold are viewed side by side, it hasn’t made sense to exchange the U.S. currency for gold. So in effect, gold which is often viewed as a currency is not competing well with greenbacks.

Take Away

Inflation has been rising. And not just in supply chain-related industries, in services as well. The Federal Reserve’s resolve to bring it down by increasing rates in the U.S. is attracting capital from overseas which has been keeping the dollar strong and as a perceived better alternatve to gold.

While gold prices are historically a beneficiary of higher inflation growth, the expectation that the Fed may quickly overshoot and cause a recession which could halt the run-away prices is winning the price tug-of-war with gold buyer enthusiasm.

Paul Hoffman Managing Editor, Channelchek

Sources

https://www.forbes.com/advisor/investing/gold-inflation-hedge/#:~:text=Over%20shorter%20periods%2C%20researchers%20found,constant%20relative%20to%20the%20CPI.

https://www.wsj.com/articles/this-should-have-been-a-great-year-for-gold-heres-why-it-isnt-11663526294?mod=hp_lead_pos3

https://www.politico.eu/article/bundesbank-germany-recession-inflation/

https://www.channelchek.com/news-channel/eureka-amcs-large-stake-in-gold-mining-company-may-pay-off

Newrange Gold (NRGOF) – A Rendezvous with Destiny

Posted on by cpatches


Wednesday, September 14, 2022

Newrange is focused on district-scale exploration for precious metals in the prolific Red Lake District of northwestern Ontario. The past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional blue-sky potential. Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Further information can be found on our website at www.newrangegold.com .

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

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

New flagship project. Newrange signed a non-binding Letter of Intent (LOI) with Great Panther Mining Limited (NYSE American, GPL) to acquire a 100% interest in the past-producing Coricancha mine in central Peru. Management expects to sign a definitive agreement shortly. Coricancha is a high-grade, narrow-vein, gold-silver-copper-lead-zinc underground mine in the Central Polymetallic Belt of Peru. It is 90 kilometers east of Lima and includes a 600-tonne per day processing plant, dry-stack tailings storage facility and requisite surface and underground infrastructure.

Acquisition terms. Newrange has agreed to make a single cash payment of US$750,000 to Great Panther upon closing and the transaction will be on an “as-is” basis. Shareholder approval is not required. Because the acquisition is subject to financing, Newrange is considering a “one new for six old” share consolidation and subsequent name change to be effective upon closing. Closing is subject to certain conditions, including the completion of a definitive agreement, financing by Newrange, and receipt of all necessary third-party approvals.


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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. 

EUREKA! AMC’s Large Stake in Gold Mining Company May Pay Off

Posted on by cpatches
Image Credit: AMC Theaters

AMC Diversified into Mining Last Winter – The Prospects Look Good

They should make a movie about the CEO of AMC Theaters, Adam Aron. But they ought to wait because it seems his story and that of AMC Theaters ($AMC) have a few more plot twists left. Yesterday AMC Shareholders struck gold. That is, the 22% of a gold mining operation in Nevada that AMC purchased in March returned extremely positive results as to the amount and quality of the yellow metal found in recent tests.

Let’s Rewind

In mid-March of this year AMC Theaters, coupled with Natural Resources Guru Eric Sprott, had taken a large stake in a gold and silver mining company. The company, Hycroft Mining Holdings ($HYMC), has a 71,000-acre gold mine in Northern Nevada. AMC’s stake was 22%. It invested $27.9 million in cash in Hycroft in exchange for 23.4 million warrant units, with each unit consisting of one common share of Hycroft and one common share purchase warrant. The units were priced at $1.193 a share, while each purchase warrant was priced at about $1.07 and carried a five-year term. HYMC had been trading in the $0.30 to $0.33 range when the deal was executed, as of September 14, the mining company was trading for $0.84 per share. AMC also was granted the right to appoint someone to Hycroft’s board.

Eric Sprott’s investment was made through a holding company for Sprott, not the alternative investment manager owned by Mr. Sprott, Sprott Inc. The holding company will make an equal investment in Hycroft with the same terms. Together, AMC and Sprott invested $56 million in the mining company.

So Far, So Good

The large stake taken by a completely unrelated business was ridiculed by many. One Seeking Alpha author called it a “Horror Story.” But the run-up in AMC’s stock from the short-squeeze in 2021 and its foresight to set aside capital for growth and diversification may have been smart. As of yesterday, the 22% stake in the uncorrelated business (Leisure vs Natural Resources) makes the CEO presiding over the popular meme-stock look like a hero.

According to a press release from Hycroft Mining, initial drill results from the test they conducted in different areas of the the property more than confirmed their expectations.

Alex Davidson, Vice President, Exploration at Hycroft commented, “These initial drill results confirm the higher-grade opportunities identified in the 2021 drill program. While we have only just begun investigating the planned targets of our 2022-23 drill program, these results are very encouraging and further confirm the importance of additional drilling to explore the untapped potential of the Hycroft deposit. Importantly, we are observing the high-grade zones are more continuous than previously interpreted in addition to seeing silver and gold grades significantly higher than the average grade at the Hycroft deposit.”

Adam Aron tweeted dramatically yesterday after the results were made public, exclaiming, “Eureka, In Hycroft’s early efforts, the biggest exploration program there in a decade, they found it! There’s MORE gold in them thar hills. And MORE silver. And it’s MUCH higher grade than previously known at the site. To my critics in the cheap seats: #AFeast of CrowStewForYou.

Take Away

The AMC story, so far this decade, is full of so many plot twists and unexpected events that it confounds even the most veteran market watchers.

High-level research and analysis for many natural resource producers is regularly posted on Channelchek, along with information on stocks within the leisure sector. Watch for continued updates on this story by signing up for Channelchek emails.

Paul Hoffman Managing Editor, Channelchek

Sources

https://twitter.com/CEOAdam/status/1569665358130475008

https://hycroftmining.com/_resources/news/Sept-13-2022-Initial-Drill-Results.pdf

https://seekingalpha.com/article/4499787-amc-stock-investing-hycroft-mining-horror-movie?

Labrador Gold Corp. (NKOSF) – Drill Results Highlight Kingsway’s Growing Resource Potential

Posted on by cpatches


Friday, September 09, 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.

Recent drill results. 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 52,648 meters have been drilled to date with assays pending for samples from approximately 3,343 meters of core. The company has four drill rigs operating, including two at the Big Vein target, one rig at the Golden Glove target, and one at the CSAMT target. Till sampling and prospecting continues to generate new drill targets along the Appleton Fault Zone and the gabbro trend north and south of Midway. Drilling on these targets will commence once initial drilling at the CSAMT target is complete.

Big Vein results continue to impress. At the Big Vein target, Hole K-22-177 returned 2.02 grams of gold per tonne over 32 meters from 134 meters depth that included 18.08 grams of gold per tonne over 0.63 meters and 11.42 grams of gold per tonne over 1.05 meters. It represents the longest mineralized intersection on the property to date. Hole K-22-187 at Big Vein southwest intersected 12.84 grams of gold per tonne over 0.8 meters from 341 meters depth.


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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. 

Release – Labrador Gold Announces 2.02 G-T Au Over 32 Metres at Big Vein the Longest Mineralized Intersection at Kingsway to Date

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on NKOSF

  • Hole K-22-177 intersected 2.02 g/t Au over 32 metres including 18.08 g/t Au over 0.63 metres and 11.42 g/t Au over 1.05 metres.
  • Mineralization at Big Vein remains open along strike to the southwest and northeast.
  • Drilling also intersected high-grade mineralization at Big Vein southwest grading 12.84 g/t Au over 0.8 metres.

TORONTO, Sept. 08, 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 2.02 g/t Au over 32 metres from 134 metres that included 18.08 g/t Au over 0.63 metres and 11.42 g/t Au over 1.05 metres in Hole K-22-177 from the north end of Big Vein. The intersection is approximately 75 metres north of the discovery outcrop. In addition, Hole K-22-187 at Big Vein southwest intersected 12.84 g/t Au over 0.8 metres from 341 metres.

The last results from initial drilling at Midway showed an intersection of 5.69 g/t Au over 1.33 metres in Hole K-22-171. Further drilling is planned at Midway to test the continuity of gabbro-hosted mineralization along strike towards Cracker.

“Drilling at Big Vein continues to deliver excellent results with the longest mineralized intersection of 32 metres grading 2.02 g/t gold drilled on the property to date. We are currently testing this intersection down dip. The intersection is approximately 30 metres north of another long intercept of 6.07 g/t Au over 19m in hole K-21-111.” said Roger Moss, President and CEO. “Big Vein has now been drilled over a strike length of approximately 520 metres and remains open both to the northeast and southwest. Two rigs continue drilling at Big Vein to test for extensions of the mineralization in both directions.”

Hole IDFrom (m)To (m)Interval (m)Au (g/t)Zone
K-22-187157.80158.251.201.08Big Vein SW
328.55328.850.303.27
341.00341.800.8012.84
K-22-184140.26140.590.332.89Big Vein SW
336.25337.891.642.69
K-22-180nsvCSAMT
K-22-17972.0072.760.761.08Golden Glove
K-22-178nsvBig Vein SW
K-22-1778.009.001.001.01Big Vein
93.7494.550.811.11
134.00166.0032.002.02
including142.77143.400.6318.08
and158.95160.001.0511.42
212.00215.003.002.63
245.00248.003.003.60
265.00266.001.001.73
K-22-176nsvGolden Glove
K-22-17563.0065.002.001.48Big Vein
230.00232.002.002.87
K-22-174296.00297.491.493.65Big Vein SW
407.00407.300.303.24
K-22-17311.0012.001.001.04Big Vein
16.0017.001.001.38
50.0051.001.002.23
K-22-172nsvCSAMT
K-22-171194.50198.003.501.44Midway
201.17202.501.335.69
K-22-17011.0012.001.001.10HTC
35.0044.009.001.42
218.00219.001.001.01
K-22-169nsvGolden Glove
K-22-168165.91166.210.301.01Midway
217.90218.400.501.82
K-22-16757.0062.005.001.90Big Vein
K-22-166nsvMidway
K-22-165243.00244.001.001.05Golden Glove

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

A total of 52,648 metres have been drilled to date out of the planned 100,000 metre program. Assays are pending for samples from approximately 3,343 metres of core (11% of the total submitted).

Drilling at Kingsway continues with four drill rigs, two working at Big Vein, one at Golden Glove and one at the CSAMT target. Ongoing detailed till sampling and prospecting continues to generate new drill targets along the Appleton Fault Zone and the gabbro trend north and south of Midway. Drilling will begin on these targets once initial drilling at CSAMT is complete.

The Company has $23.6 million in cash and is well funded to carry out the remaining 47,000 metres of the planned drill program as well as further target generation on the property.

Hole IDEastingNorthingElevationAzimuthDipTotal depth
K-22-187661343.8543492644.15113050374
K-22-184661343.9543496.444.48113045428
K-22-180666592.3544360546.4214045278
K-22-179660543543177645.7932045401
K-22-178661343543492644.35214050404
K-22-177661594543532745.714550826
K-22-176660541543177645.85729045401
K-22-175661598543528751.68312057.5308
K-22-174661343.3543492644.28914045476
K-22-173661599.9543528751.0011205593
K-22-172666591.7544360646.4231045278
K-22-171661254.7543792478.34914045247
K-22-170661599.9543528651.09612045299
K-22-169660627.7543187944.5528055401.44
K-22-168661255.8543793777.43231045264.75
K-22-167661599.3543528651.3213055296
K-22-166661202.7543788077.47314045260
K-22-165660626543188144.59628045398

Table 2. Drill hole collar details

Figure 1. Plan map of significant Big Vein intercepts.
https://www.globenewswire.com/NewsRoom/AttachmentNg/c8630deb-d718-4e9f-bf3d-5431d3789e05

Figure 2. Long section of Big Vein/HTC Zone.
https://www.globenewswire.com/NewsRoom/AttachmentNg/74f1199d-6502-4981-bbfd-7719fb00b48d

Figure 3. Plan map of Kingsway Gold occurrences showing latest drill intersections.
https://www.globenewswire.com/NewsRoom/AttachmentNg/ea032cde-0026-4147-b1c6-b71481e1db5c

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 $23.6 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 .

Allegiant Gold (AUXXF) – This is What Progress Looks Like

Posted on by cpatches


Friday, September 02, 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.

Core diamond drill program. In June, Allegiant Gold commenced a diamond core drilling program at Eastside in the high-grade zone discovered during the 2021 drill program within the original pit zone. The company is on the fifth hole which have averaged 530 meters to 550 meters depth. We think the company could complete up to 9 holes by the end of the year. Recall that in May 2021, results from Allegiant’s nine-hole drill program returned strong gold intercepts for Holes 239, 243, 244, and 245.

RC drilling results expected soon. Allegiant completed a 32-hole, 6,703-meter reverse circulation drill program in June to test new exploration targets at Eastside, including 21 holes drilled in the East Pediment and 11 holes drilled at the West Anomaly. The targets are to the east and west of the original pit zone and we expect the company to begin releasing available drill results from this program soon. We believe Allegiant may resume reverse circulation drilling in October to continue drilling additional targets based on assays….

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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.