Tag: Natural Resources

Release – Comstock Metals Recycling Subsidiary Sells Facility For $27 Million

Posted on by aweinsoff@channelchek.com

Research News and Market Data on LODE

VIRGINIA CITY, NEVADA, March 7, 2023 – Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced agreements by LINICO Corporation, Comstock’s 88% owned subsidiary (“LiNiCo”), to sell LiNiCo’s facility at 2500 Peru Drive, McCarran, Nevada, for a gross price of $27 million. The facility was being leased pursuant to an agreement that permitted LiNiCo to purchase the facility for a purchase price of $15.25 million, of which $3.25 million was previously paid.  Comstock expects to receive net proceeds of approximately $12.5 million from the sale of the LiNiCo facility, plus any remaining proceeds from a $1.5 million hold-back deposited in escrow, for up to 18 months, to cover the cost of any potential environmental remediation items subsequently identified by the buyer.

“The sale of this asset was both opportunistic and strategic since we secured our permitted 200-acre battery metal storage facility in Mound House, Nevada, and recently freed up our existing Storey County operating platform and facilities with the termination of the lease with Tonogold,” stated Mr. Corrado De Gasperis, Comstock’s executive chairman and chief executive officer. “These locations are ideal for storing, piloting, and recycling electronic devices and batteries for clients throughout the electrification supply chain. We are frankly thrilled to turn a $12 million cash obligation into a $12.5 million net cash inflow, resulting in an immediate and nearly $25 million value swing for Comstock shareholders.”

LiNiCo’s lithium-ion battery (“LIB”) storage facility in Mound House resides in one of the largest industrial parks in Lyon County, Nevada, with ample power, water, and immediate highway access. The facility will receive, sort, and store waste LIBs with capacity for expansion and possible crushing, conditioning, and separating operations.  Comstock’s Storey County properties additionally boast a fully permitted mining and metal beneficiation platform that will be ideal for piloting LiNiCo’s crushing, conditioning, and separating infrastructure, and for piloting precursor cathode active material (“PCAM”) recycling and production technology licensed from LiNiCo’s strategic investee and technology partner, Green Li-Ion Pte Ltd.

“The receipt and storage of LIBs represent an essential component of our regional supply chain for recycling these critical metals,” stated Mr. De Gasperis. “We have vast experience operating in both Storey and Lyon County, and their permitting support has been paramount as we continue building a premier, unique, Nevada-based platform necessary for receiving, storing and recycling waste LIBs and electronic devices into the highest quality black mass and high-value electrification products.”

De Gasperis concluded, “Our technologies are designed to meet the practical realities of the existing and rapidly growing LIB recycling demand by enabling profitability at the earliest stages of production. With the highly profitable facility sale behind us, we can now focus on scaling our technologies and pilot operations efficiently, within our existing Nevada infrastructure.”

About Comstock Inc.

Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complementary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.

Forward-Looking Statements 

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future industry market conditions; future explorations or acquisitions; future changes in our exploration activities; future prices and sales of, and demand for, our products; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, taxes, earnings and growth. These statements are based on assumptions and assessments made by our management considering their experience and their perception of historical and current trends, current conditions, possible future developments, and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; ability to achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology, quantum computing and advanced materials development, and development of cellulosic technology in bio-fuels and related carbon-based material production; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.

Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.

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

Labrador Gold Corp. (NKOSF) – Extending the Winning Streak

Posted on by cpereira@noblefcm.com


Friday, March 03, 2023

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

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

Well-funded drilling program. Exploration and drilling at the company’s 100%-owned Kingsway gold project is targeting the Appleton Fault over a 12-kilometer strike length. With approximately C$17 million in cash and over 66,000 meters of the company’s planned 100,000-meter drill program completed, Labrador Gold has ample financial resources to fund the rest of the drill program. Assays are pending for samples from approximately 3,000 meters of core.

Favorable drill results. Recent drilling results included Hole K-22-213 from Big Vein Southwest that intersected 1.38 grams of gold per tonne over 4.15 meters from 464 meters. Hole K-22-214 from Big Vein intersected 1.19 grams of gold per tonne over 41.8 meters from 397 meters that included 2.32 grams of gold per tonne over 18.6 meters, including 61.15 grams of gold per tonne over 0.3 meters that contained visible gold.


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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. 

Endeavour Silver (EXK) – All Eyes on Terronera

Posted on by cpereira@noblefcm.com


Friday, March 03, 2023

Endeavour Silver is a mid-tier precious metals mining company that operates two high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision, pending financing and final permits and exploring its portfolio of exploration and development projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.

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

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

Fourth quarter and full year 2022 results. Endeavour reported fourth quarter and full year 2022 adjusted earnings per share of $0.04 and $0.04 per share, respectively, compared to fourth quarter and full year 2021 adjusted EPS of $(0.00) and $(0.05). We had forecast fourth quarter and full year EPS of $0.07 per share and $0.10, respectively. Fourth quarter and full year adjusted EBITDA were $23.4 million and $56.5 million, respectively. While revenue was largely in line with our estimates, costs were higher. At year-end, Endeavour held 530,250 ounces of silver and 1,707 ounces of gold in bullion inventory.

Updating estimates. We now forecast 2023 EBITDA and EPS of $59.0 million and $0.09 compared to our previous estimates of $59.2 million and $0.11, respectively. Our estimates are based on silver and gold production of 6.1 million ounces of silver and 38,402 ounces of silver.


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 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 2.32 g/t Au Over 18.6 Metres at Big Vein

Posted on by aweinsoff@channelchek.com

Research News and Market Data on NKOSF

TORONTO, March 02, 2023 (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 highly 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 1.19g/t Au over 41.8 metres from 397 metres that included 2.32g/t Au over 18.6 metres including 61.15g/t Au over 0.3 metres that contains visible gold in Hole K-22-214. This intersection, at 325 to 359 metres vertical, is the deepest yet at the HTC Zone which remains open at depth and to the northeast.

Hole K-22-214 was abandoned in mineralization at 486 metres due to excessive fracturing. The hole was wedged as Hole K-22-214B which subsequently drilled through the entire mineralized zone and was completed at a depth of 676 metres. Assays are pending.

Hole K-22-213 from Big Vein Southwest intersected 1.38g/t Au over 4.15m from 464 metres.

“The long intersection at the HTC zone, significantly extending this zone to depth, is encouraging especially as we also continue to step out towards the northeast. We have also made significant step outs in recent holes to the southwest, with assays pending, such that Big Vein has now been drilled over a strike length of approximately 590 metres and remains open in both directions.” said Roger Moss, President and CEO. “Two rigs continue drilling at Big Vein to test for extensions of the mineralization to both the northeast and southwest.”

Hole Idfrom (m)to (m)width (m)Au (g/t)Zone
K-22-214265.0266.01.011.5Big Vein
397.0438.841.81.19
including397.7416.318.62.32
including397.7401.03.39.63
including397.7398.00.361.15
K-22-213464.0468.154.151.38Big Vein Southwest
including466.36468.151.792.81

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

Over 66,000 metres have been drilled to date out of the planned 100,000 metre program. Assays are pending for samples from approximately 3,000 metres of core.

The Company has approximately $17 million in cash and is well funded to carry out the remaining 34,000 metres of the planned drill program as well as further exploration to add to the current pipeline of drill targets on the property.

Figure1. Plan map of Big Vein showing significant intersections.

Hole IDEastingNorthingElevationAzimuthDipTotal Depth (m)
K-22-214661569.6543536657.16114555486.31
K-22-213661297.1543488046.61613055617

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 $17 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 170,009,979 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 .

Release – Comstock Expands Leadership for Li-Ion Battery Recycling

Posted on by aweinsoff@channelchek.com

Research News and Market Data on LODE

VIRGINIA CITY, NEVADA, MARCH 2, 2023 – Comstock Inc. (NYSE: LODE) (“Comstock” or the “Company”) today announced the appointment of Dr. Fortunato Villamagna as the President of Comstock Metals Corporation, the entity that owns LINICO Corporation, the Company’s Li-Ion battery metals recycling business.

Mr. Corrado De Gasperis, Executive Chairman and CEO, said, “We are honored to welcome Dr. Villamagna to our battery metals team. His proven knowledge and experience in technology development, battery chemistries, and successful commercialization of similar businesses add breadth and experience to our leadership team.”

Dr. Villamagna has worked in the renewable energy, energy recovery, energetic materials, waste to energy, and hazardous waste destruction for over 40 years. He has held positions across the entire spectrum, including R&D, engineering, product development, operations and senior executive management.

Dr. Villamagna holds a PhD in Physical & Computational Chemistry, MSc in Spectroscopy/Physical Chemistry, BSc Honors in Chemistry, and DCS in Analytical Chemistry. He also holds an MBA in Global Management.

Dr. Villamagna’s most recent work has focused on developing and commercializing new technologies that redefine how emissions are controlled and potentially avoided. He has published over thirty-five patents and authored several peer-reviewed publications across several technology platforms. For the past decade Dr. Villamagna has focused on the hazardous materials destruction and most recently, clean recycling systems.

Dr. Villamagna was most recently the CEO of Paragon Waste Solutions, LLC (“Paragon”), a company he founded based on one of the emission-control processes he patented. Paragon designs, fabricates, and operates medical waste destruction systems, using a low energy plasma process.  Dr. Villamagna recently agreed to sell Paragon, to a private equity firm.  Dr. Villamagna also owns and operates i-Quest Inc., a technology company focused on metal recycling that will amalgamate with Comstock Metals Corporation.

Prior to this period Dr. Villamagna served in various CEO roles, including for RF Biocidics and UTEC Inc., a start-up company that commercialized hazardous chemical and biological waste destruction technology. As part of UTEC, Dr. Villamagna also served as President of Bioenergy Systems, LLC, a JV with Smithfield Foods, commercializing technologies to improve biodiesel production and reducing aqueous emissions.

Dr. Villamagna also spent nearly 20 years with ICI plc. Group, including as Director of Bulk Delivered Products for Energetic Solutions, Inc., Technical Manager for Energetic Systems and Atlas Powder Company, as well as Senior Scientist and Process Development Chemist with ICI Canada. During his tenure with ICI and Orica, Dr. Villamagna pioneered the demilitarization business for the companies, developed and started munitions recycling programs at the former Indiana Army Ammunition plant, the Gray Court, SC facility as well as the former ICI facility in Hallowell, KS.  Dr. Villamagna also started operations in Africa, India, Mexico, and Canada, and worked on joint programs in Australia, New Zealand, and Europe.

Mr. De Gasperis concluded, “Fortunato will be instrumental in deploying our pilot, producing black mass and battery metals, expanding our operations and supply chain, and advancing our technology leadership in Nevada.”

About Comstock

Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon and through the deployment of more advanced mineral and material discovery technologies. To learn more, please visit www.comstock.inc.

Forward-Looking Statements 

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future industry market conditions; future explorations or acquisitions; future changes in our exploration activities; future prices and sales of, and demand for, our products; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, taxes, earnings and growth. These statements are based on assumptions and assessments made by our management considering their experience and their perception of historical and current trends, current conditions, possible future developments, and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; ability to achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology, quantum computing and advanced materials development, and development of cellulosic technology in bio-fuels and related carbon-based material production; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.

Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.

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

Release – Aurania Discovers a Significant Epithermal System at Its Tatasham Target In Ecuador

Posted on by aweinsoff@channelchek.com

Research News and Market Data on AUIAF

Toronto, Ontario–(Newsfile Corp. – March 1, 2023) – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (“Aurania” or the “Company”) reports that preliminary results from the drill holes and surface prospecting at the Company’s Tatasham target in southeastern Ecuador indicate the discovery of a large, important epithermal system with similarities to the Fruta del Norte gold deposit located 100 kilometres to the south. All three holes drilled to date at Tatasham have intersected an important hydrothermal system with breccias, strong silicification, and high temperature illite-clay alteration, however no economic precious metal intersections have been encountered as yet. The upper part of the system is interpreted as a sinter paleosurface.

President and CEO, Dr. Keith Barron, commented, “It is very early in the story of Tatasham, but it is showing all the hallmarks of a large and vigorous hydrothermal system. We have discovered silica sinter over 2.7 km strike length, at the surface and in drill core. As well, zones of oxidized hydrothermal breccia were intersected below the sinter, similar in character to those found at Fruta del Norte. One thing that is apparent from the drilling is that the sinter horizon steepens downhole such that the bedding ends up aligned with the core axis. What this tells us is that the horizon is substantially tilted as you go to depth, as it would be in a pull-apart setting. You can think of it as a steep-sided valley opening up along a structure and the horizontally bedded rocks gradually tilting into the chasm as it widens. This is exactly the geological setting that revealed itself at Fruta del Norte. I consider the parallels between Tatasham and Fruta del Norte so far to be very compelling.”

Representative samples of drill core will be available for viewing at our booth in the Investors Exchange (booth #2948) at the Prospector’s and Developer’s Convention in Toronto, March 5th-8th.

The discovery of an epithermal system at Tatasham was unexpected, in our pursuit of a copper porphyry target indicated by geophysics. That porphyry target is still valid, but it may lie at considerable depth, or it may lie laterally. Our recent diamond drilling campaign was designed for a porphyry target and is too widely spaced for a typical epithermal target, but it very fortunately clipped the edges of what appears to be a very large system. Aurania has paused the drill program at Tatasham in order to conduct additional field work in the coming months including a ground based induced polarization (IP) survey to appropriately refine the epithermal target areas prior to additional drilling. This work is necessary to define the limit of the system, which remains open to the north, and to understand the geometry of the system.

The hydrothermal system at Tatasham is characterized by strong silicification surrounding hydrothermal breccias. The upper part preserves fine, irregular, layers of amorphous silica that has the characteristics of a sinter. Several textures typical of silica sinter have been identified, in particular, “network fabric” and geyserite lithofacies, the latter interpreted as proximal to the original vent (see fig.1). Two other sinters were found nearby, one of which is represented by a boulder located 2.7 km from the collar of TT-003 (see fig.2).

A sinter is the surface manifestation of geothermal activity; usually accompanied by geysers, hotsprings, boiling mud pools, and steaming ground. Gold and silver scaling deposits were discovered clogging the surface pipework of New Zealand geothermal fields in the routine maintenance of electrical generating installations (Brown, 1986) and this fundamentally established a genetic link between the formation of epithermal gold-silver deposits and ascending hot geothermal fluids. Extinct geothermal fields have long been recognized as favourable settings for gold-silver deposits. Simon Ridgway and Mar-West Resources discovered two gold mines in the 1990’s simply by staking active and extinct hotsprings off the topographic maps of Central America. Fruta del Norte contains a sinter of approximately 1.1 km areal extent, underneath which is the deposit. Not all of the many tens of thousands of the hotsprings around the world will be linked to formation of gold deposits at depth, but the proximity of Tatasham to Fruta del Norte, in the same belt of rocks, is considered highly favourable. Investigation has shown that the depth of formation of gold deposits below a sinter in the proper geological environment can be anywhere from nil to as much as 1,000 metres, though 200-300 metre might be considered typical.

Hole TT-003 (see fig.3) was collared in Cretaceous-aged Hollin sandstone which is considered to be post-mineral cover, as it is at Fruta del Norte. The hole continued in a series of continental sediments showing alternations of mudstone, siltstone, lithic sandstone, and polymictic conglomerates up to 18m thickness. The conglomerate contains rare clasts of vein chalcedony. This assembly of continental sediments is above a black limestone showing minor disseminated sphalerite mineralisation. The sediments overlie a tuffaceous volcano-sedimentary series. The clastic sediment-limestone-tuff sequence is interpreted as the filling of a pull-apart basin with an episode of marine incursion at the end of the volcanic activity. Immediately below the tuffaceous horizon lies a sinter displaying fine, irregular, layers of amorphous silica, locally overprinted by fault breccia. The Santiago Formation andesite below the sinter is propylitically altered (chlorite), with zones of silicification accompanied by barite, iron-oxides and high temperature illite-clay.

Three hydrothermal breccias cross the andesite below the sinter in hole TT-003. One of the breccias is cemented by barite, while the other two are rich in iron and manganese oxides in a silica matrix. It is significant that the drill core, even at a downhole depth of greater than 300 metres, is highly oxidized and it is believed that this could be a Jurassic-aged weathering horizon as also seen in the uppermost levels of Fruta del Norte.

Holes TT-001 and TT-002 crossed zones of silicification and potassic alteration representing the distal part of the epithermal system as reported in the press release dated January 9, 2023. The presence of the sinter in Hole TT-003, shows that this hole is closer to the centre of the system. To emphasize, mineralization in an epithermal system is typically found somewhere below the sinter; the sinter itself is barren as was the case with the sinter discovered at Fruta del Norte. Therefore, these first three holes should be regarded as discovery holes of the epithermal system, but there is considerable work and interpretation still to be done before economic drill results are expected.

For a very basic explanation of the vertical variability through an epithermal ore system watch Dr. Barron’s short lecture at:

http://www.straighttalkonmining.com/course-1-module-5-the-importance-of-locating-yourself-vertically-in-the-system/

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Figure 1: a). Concentric, dense silica laminae in rounded spheres from hole TT-003 at 284.30m ; b). Geyserite in the McLaughlin Mine (San Quentin Sinter) California USA ; c). Network fabric identified in hole TT-003 at 268.50m; d). Network lithofacies resulting from bacterial activity on the margins of a pool; Whangapaoa Spring, Atiamuri, Taupo Volcanic Zone, New Zealand ; e). Jurassic network lithofacies consisting of silicified, irregular, webbed pattern; La Marciana, Deseado Massif, Argentina.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/156667_4ac6eaaf345ae8b8_001full.jpg

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Figure 2: Location of the sinter and boreholes at Aurania’s Tatasham target. Kutnahorite, a rare pink calcium manganese carbonate mineral, has been found on surface in several places at Tatasham. This is a common gangue mineral at the Fruta del Norte gold mine.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/156667_4ac6eaaf345ae8b8_002full.jpg

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Figure 3: Top graphic presents the interpretative section of hole TT-003 at Tatasham with the sinter location above the altered andesite lava of the Santiago Formation, compared in the bottom graphic with the sinter location at Fruta del Norte (from Aurelian’s PDAC presentation in 2008).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2477/156667_auraniafigure3.jpg

Qualified Person

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

About Aurania

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

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

For further information, please contact:

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

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

Forward-Looking Statements

This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management’s current expectations and assumptions. The forward-looking information includes statements about: Aurania’s objectives, goals or future plans, statements, exploration and drilling results, potential mineralization, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations and estimates of market conditions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to Aurania, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various local government licenses and the market. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things, a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents, an inability to access financing as needed, a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Aurania, a failure to comply with environmental regulations and a weakening of market and industry reliance on precious metals and copper. Aurania cautions the reader that the above list of risk factors is not exhaustive.

Aurania Resources (AUIAF) – On to Something Big?

Posted on by cpereira@noblefcm.com


Thursday, March 02, 2023

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

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

Significant epithermal system discovery. Preliminary results from three holes drilled at the Tatasham porphyry copper target revealed the discovery of a large epithermal system making Tatasham highly prospective for gold. The hydrothermal system at Tatasham is characterized by strong silicification surrounding hydrothermal breccias. While the first three holes are regarded as discovery holes of the epithermal system, additional work is needed before economic drill results can be expected.

The next Fruta del Norte? Tatasham shares similar characteristics with the Fruta del Norte gold deposit which was discovered in 2006 by Aurelian Resources which at the time was headed by Aurania’s CEO, Dr. Keith Barron. Fruta del Norte is approximately 100 kilometers to the south of Tatasham in a similar geological setting. The drilling program at Tatasham revealed silica sinter over a 2.7 kilometer strike length at surface and in drill core. Similar in character to those discovered at Fruta del Norte, zones of oxidized hydrothermal breccia were intersected below the sinter.


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

Sierra Metals (SMT:CA) – Lowering Estimates

Posted on by cpereira@noblefcm.com


Wednesday, March 01, 2023

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

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

Weaker than expected Yauricocha financial results. Sierra Metals’ subsidiary Sociedad Minera Corona S.A, whose principal asset is the Yauricocha mine in Peru, recently filed its financial results for the fourth quarter and full year 2022. Fourth quarter and full year EBITDA were $(6.1) million and $14.2 million, respectively, compared with $19.0 million and $88.0 million during the prior year periods. Recall Sierra holds an 81.8% interest in Corona whose financial results have not been adjusted for the 18.2% non-controlling interest.

Lowering estimates. We have lowered our fourth quarter and full year 2022 EBITDA and EPS estimates to reflect weaker than expected performance at the Yauricocha mine in Peru. We forecast fourth quarter EBITDA and EPS of $(3.5) million and $(0.07), respectively, compared to our previous estimates of $0.4 million and $(0.05). For the full year, we project EBITDA of $10.0 million and a loss per share of $(0.17) compared with our previous estimates of $13.9 million and $(0.15), respectively. Our 2023 EBITDA and EPS estimates remain unchanged at $37.3 million and $(0.04). While our quarterly estimates reflect steady improvement, operational uncertainty associated with production at the company’s mines clouds our confidence in 2023 estimates.


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*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. 

Defense Metals Corp. (DFMTF) – Advancing Toward a Compelling Preliminary Feasibility Study

Posted on by cpereira@noblefcm.com


Wednesday, March 01, 2023

Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

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

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

Favorable crushing and grinding test results. Defense Metals reported favorable crushing and grinding (comminution) results using multiple samples extracted from the Wicheeda deposit. The results will help determine the design of the crushing and grinding plant which will be included in the company’s Wicheeda REE project preliminary feasibility study (PFS) that is expected to be completed in the first quarter of 2024.

The importance of starting off right. Crushing and grinding is the first step in processing mined material where ore is reduced to sand-like particles suitable for upgrading by flotation or other means. It accounts for a fairly significant percentage of the mineral processing plant energy requirements, production cost, and carbon emission profile.


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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.

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*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 – Defense Metals Reports Favourable Comminution Data for the Wicheeda Deposit

Posted on by aweinsoff@channelchek.com

Research News and Market Data on DFMTF

VANCOUVER, BC, Feb. 28, 2023 /PRNewswire/ – Defense Metals Corp. (“Defense Metals” or the “Company“) (TSXV: DEFN) (OTCQB: DFMTF) (FSE:35D) is pleased to report favourable comminution results on multiple samples extracted from the Wicheeda deposit.  The data allows the design of the crushing and grinding plant that will be an integral part of the planned Wicheeda development. These data are essential inputs to the upcoming pre-feasibility study (PFS).

Comminution, i.e., crushing and grinding, will be the first step in the processing of material mined from the Wicheeda deposit.  In the process, coarse, as-mined, rocks are reduced in size to sand-like particles, typically less than 1 mm in size, and suitable for upgrading by flotation or other means. Comminution usually accounts for a significant percentage of the energy demand, production cost and carbon footprint of a mineral processing plant.

John Goode, Metallurgy Advisor, stated: “Comminution tests on seventeen variability samples and a Master Composite show that the ore is soft, amenable to conventional grinding operations and has a low abrasion index. The recent results confirm, and expand on data obtained from a 30 t bulk sample taken in 2019.  The data show that a conventional semi-autogenous grinding (SAG) mill-ball mill circuit will work well and that grinding energy and supply costs will be relatively low.” 

Key Highlights:

  • The Wicheeda variability samples and Master Composite were studied using the industry-standard SMC test to determine amenability to, and sizing design parameters for, SAG processing. The A x b value averaged 97 and the SAG Circuit Specific Energy (SCSE) averaged 7 kWh/t indicating a very soft ore.
  • The Bond rod mill work index test was applied to the Master Composite and returned a value of 10 kWh/t – which again indicates a very soft feed material.
  • The Bond ball mill work index test was applied to all samples and resulted in an average of 10 kWh/t using a 65-mesh closing screen. This again indicates a very soft feed material.
  • A standard Bond abrasion test was performed on the Master Composite and returned a value of 0.059 g meaning a very low consumption of grinding balls and mill liners is anticipated.
  • The Bond ball mill work index and abrasion index data for these new samples are very similar to the values obtained on the 2019 bulk sample taken from the Wicheeda deposit giving additional confidence in the new data. Comminution data for the 2019 bulk sample were used during preparation of the 2021 Independent Preliminary Economic Assessment1.

Methodology

Seventeen variability samples and a Master Composite were made from drill core taken from the Wicheeda deposit. The variability samples covered different lithologies, depths, areas and grades of the deposit. The Master Composite had a mass of 260 kg and included all lithologies in the approximate ratios of their mass in the deposit.

SGS Lakefield performed all of the comminution tests. The SMC testing protocol is an industry-standard method of evaluating the amenability of material to grinding in a semi-autogenous grinding (SAG) mill. The Bond rod and ball mill indices and abrasion index are also industry-standard tests performed on crushed ore and are essential to the accurate sizing of a grinding circuit.

The comminution data will be used, along with other information, during the upcoming pre-feasibility study (PFS) to design the comminution circuit for the Wicheeda project.

PDAC Convention, Toronto, March 5 – 8, 2023

The Company is also pleased to announce that it will be attending this year’s Prospector’s and Developer’s Annual Convention (PDAC) in Toronto, Ontario, Canada from Sunday, March 5 to Wednesday, March 8, 2023.

The Company’s management team, members of the Board of Directors and technical advisors will be available during the convention (www.pdac.ca/convention) and invite you to drop by Booth #2500 in the Investors Exchange in the Metro Toronto Convention Centre from March 5 – 7, 2023, 10 a.m. to 5 p.m. and March 8, 2023, 9 a.m. to 12 p.m. to discuss the Company’s latest activities and plans for 2023 and onward.

In addition, we invite you to attend the following presentation at PDAC, which includes Kris Raffle, P.Geo, a director of the Company, presenting on behalf of Defense Metals at 2:14 p.m.: Electric materials / Rare earth elements (REE), Room 801B – MTCC Level 800.

Qualified Person

The scientific and technical information contained in this news release, as it relates to the Wicheeda Rare-Earth Project, has been reviewed and approved by John Goode, P. Eng., who is a Qualified Person as defined by National Instrument 43-101 and who has provided the technical information relating to metallurgy in this news release. 

About the Wicheeda REE Property

Defense Metals 100% owned, 4,262-hectare (~10,532-acre) Wicheeda REE property is located approximately 80 km northeast of the city of Prince George, British Columbia; population 77,000. The Wicheeda REE Project is readily accessible by all-weather gravel roads and is near infrastructure, including hydro power transmission lines and gas pipelines. The nearby Canadian National Railway and major highways allow easy access to the port facilities at Prince Rupert, the closest major North American port to Asia.

The 2021 Wicheeda REE Project Preliminary Economic Assessment technical report (“PEA”) outlined a robust after-tax net present value (NPV@8%) of $517 million and an 18% IRR1. This PEA contemplated an open pit mining operation with a 1.75:1 (waste:mill feed) strip ratio providing a 1.8 Mtpa (“million tonnes per year”) mill throughput producing an average of 25,423 tonnes REO annually over a 16 year mine life. A Phase 1 initial pit strip ratio of 0.63:1 (waste:mill feed) would yield rapid access to higher grade surface mineralization in year 1 and payback of $440 million initial capital within 5 years.

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power markets, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Deposit located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

For further information, please contact:

Todd Hanas, Bluesky Corporate Communications Ltd.
Vice President, Investor Relations
Tel: (778) 994 8072
Email: todd@blueskycorp.ca

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 news release.

Cautionary Statement Regarding “Forward-Looking” Information

This news release contains “forward–looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, completion of the PFS, attending PDAC, the Company’s plans for its Wicheeda REE Project, expected results and outcomes from the comminution data, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration and metallurgical results, risks related to the inherent uncertainty of exploration and development and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations),  risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological, metallurgical and engineering assumptions, decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward–looking statements or forward–looking information, except as required by law.

1 Independent Preliminary Economic Assessment for the Wicheeda Rare Earth Element Project, British Columbia, Canada, dated January 6, 2022, with an effective date of November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is filed under Defense Metals Corp.’s Issuer Profile on SEDAR (www.sedar.com).

SOURCE Defense Metals Corp.

LithiumBank Resources (LBNKF) – Study Underscores the District-Scale Potential of Park Place

Posted on by cpereira@noblefcm.com


Tuesday, February 28, 2023

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

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

Park Place hydrogeological study. LithiumBank Resources released results from a hydrogeological study at its 100% owned Park Place Lithium Brine Project located 180 kilometers west of Edmonton, Alberta, and 50 kilometers south of the company’s other flagship Boardwalk lithium brine project. The hydrogeological study was completed by Matrix Solutions and will be incorporated into a NI 43-101 compliant technical report and resource estimate which is expected in the second quarter of 2023.

Surprisingly favorable results. The hydrogeological study indicates Park Place hosts a combined 76.3 cubic kilometers of lithium-bearing brine, including 49.8 cubic kilometers within the Leduc Formation and 26.5 cubic kilometers within the Swan Hills Formation. By comparison, the company’s Boardwalk projects hosts 17.1 cubic kilometers of lithium-bearing brine. As a result, Park Place may be considered the largest reported lithium-rich brine project by volume in North America held by a single operator.


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*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. 

Eskay Mining Corp. (ESKYF) – Closing in On the Untapped Potential of the Eskay Mining District

Posted on by cpereira@noblefcm.com


Tuesday, February 28, 2023

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

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

Eskay VMS project. The company’s Eskay Volcanogenic Massive Sulphide (VMS) project encompasses 52,600 hectares of highly prospective property within proximity to several world class gold deposits, including the adjacent past-producing Eskay Creek Mine, a high-grade gold-silver rich VMS deposit that is considered the world’s most precious metal-rich volcanogenic massive sulfide deposit. Based on Eskay’s exploration program, a new model of the tectonic architecture of the Eskay Mining District has identified three anticlines that wholly or partially underlay Eskay Mining’s property. The company’s new model suggests the flanks of each of these three anticlines are prospective for Eskay Creek-style VMS mineralization.

Recent drill results. Eskay recently released drilling results from the 2022 program at the TV and Tarn Lake targets. Drilling returned 1.51 grams of gold per tonne and 25.39 grams of silver per tonne over 43.1 meters and 2.84 grams of gold per tonne and 22.17 grams of silver per tonne over 16.4 meters in extensional drilling at the TV deposit. Assay results from the maiden drill program at Tarn Lake have defined an 80-meter-long open-ended trend of gold mineralization that dips in a west-northwestern direction.


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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.

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*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 – Aurania Announces Events During PDAC 2023

Posted on by aweinsoff@channelchek.com

Research News and Market Data on AUIAF

Toronto, Ontario, February 24, 2023 – Aurania Resources Ltd. (TSXV: ARU; OTCQB: AUIAF; Frankfurt: 20Q) (“Aurania” or the “Company”) is pleased to announce that it will be attending the Prospector’s and Developers International Convention (PDAC) being held March 5th – 8th, 2023 at the Metro Toronto Convention Centre (MTCC) in Toronto, Canada.

PDAC Booth Location

Aurania will be exhibiting at booth 2948 in the Investors Exchange located in the MTCC South Building, Level 800. Please note our new booth location. For more information about PDAC and registration, please visit https://www.pdac.ca/convention/registration.

March 5th – 5:00pm Shareholder Meet and Greet with Management

Aurania is hosting a meet-and-greet for shareholders on Sunday, March 5th from 5:00pm-8:00pm in Salon 1, 19th Floor, at The Fairmont Royal York Hotel, 100 Front Street West, Toronto, Ontario. Due to capacity limitations, we kindly ask that you confirm your attendance no later than March 1st by RSVP to info@aurania.com.

March 6th – 9:05am Ecuador Day

Ecuador Day will take place on Monday, March 6th at 8:00am ET in Room 206F at the MTCC. Ecuador Day is being organized and hosted by the Ecuador Chamber of Mines and will run from 8:00am-12:00pm. Representatives from the Government of Ecuador are expected to provide an update on the mining industry in Ecuador during this event.

March 7th – 10:00am Panel on Planning for Sustainable Mineral Development 101

Aurania’s Head of CSR, Ms. Carolina Lasso, has been invited to participate in a session sub-topic titled “Setting the stage for success with the S in ESG: Engagement and agreement making in early exploration” on Tuesday, March 7th at 10:00am in Room 715 at the MTCC.

ERM – Environmental Resources Management has put together this two-hour lightning talks panel in collaboration with the PDAC Sustainability Committee. The panel will feature key sub-topics within the sustainable mining framework explored by junior companies, community members, investors, and expert speakers. Click here for more information:

https://www.pdac.ca/convention/programming/sustainability-program/sessions/sustainability-program/planning-for-sustainable-mineral-development-101

About Aurania

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

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

For further information, please contact:

Carolyn Muir

VP Corporate Development & Investor Relations

Aurania Resources Ltd.

(416) 367-3200

carolyn.muir@aurania.com

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