Vancouver, British Columbia–(Newsfile Corp. – October 25, 2021) –( ) (OTC Pink: DCHRF) (FSE: 4GW) (the “Company” or “Discovery Harbour“) announces that the first of five drill holes results have been received from the Company’s Caldera drill program. Selected core from each of the five holes has been sent for analysis, with the next results expected in late November. The initial drill hole, CP21-01, has anomalous gold results up to 324 parts per billion gold over 1.4 metres. The drillhole intersected primarily volcanic tuffs, moderate to strong propylitic and argillic / sericitic alteration as well as multiple fault zones.
The Company completed drilling a total of slightly over 1900 metres, testing five low sulphidation epithermal gold targets (see map below) on the Caldera Property. Each hole was deeper than any previous drilling on Caldera and each site was selected to test the boiling zone, typically found at approximately 300+ metres below the paleo-surface, where precious metals are concentrated. The Caldera gold property lies in a fertile gold region at the intersection of the Walker Lane and Northumberland Gold Belts northwest of Tonopah, Nevada.
Caldera Gold Project, Completed Drill Holes
To view an enhanced version of this graphic, please visit:
Alan Morris, CPG, is the Qualified Person for Discovery Harbour as defined in NI 43-101 and has reviewed and approved the technical contents of this news release.
About Discovery Harbour
Discovery Harbour is focused on sourcing, exploring and developing mineral properties in mining-friendly jurisdictions. Its current primary focus is the drill program on Caldera, a low sulphidation epithermal gold project in Nevada. Additionally, Discovery Harbour has an agreement with on its Fortuity 89 property in Nevada.
ON BEHALF OF THE BOARD OF
Mark Fields, B. Sc. (Geology), B.Comm.(Hon.)
President and Chief Executive Officer
Tel: (604) 681-3170
Fax: (604) 681-3552
Disclaimer for Forward-Looking Information
This news release contains forward‐looking information that involves various risks and uncertainties regarding future events. Such forward‐looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Discovery Harbour, such as statements that Discovery Harbour intends to pursue the Caldera Project. There are numerous risks and uncertainties that could cause actual results and Discovery Harbour’s plans and objectives to differ materially from those expressed in the forward‐looking information, including: (i) adverse market conditions; (ii) exploration results, (iii) permitting requirements or (iv) the financial position of the Company. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward‐looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Discovery Harbour does not intend to update these forward‐looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100776
Sabina Gold & Silver Honoured to Receive 2022 PDAC Sustainability Award
VANCOUVER, British Columbia, Dec. 09, 2021 (GLOBE NEWSWIRE) — Sabina Gold & Silver Corp. (“Sabina”) or (the “Company”) (SBB – TSX/ SGSVF…
VANCOUVER, British Columbia, Dec. 09, 2021 (GLOBE NEWSWIRE) —(“Sabina”) or (the “Company”) (SBB – TSX/ SGSVF – OTCQX) is pleased to report that it is the recipient of the Prospectors & Developers Association of Canada’s (“PDAC”) Sustainability Award for 2022 in relation to its 100% owned Goose Project (the “Project”) on the Back River Gold District in Nunavut, Canada. The award will be presented during the PDAC Convention held March 7-10, 2022 in Toronto, Canada.
The PDAC Sustainability Award recognizes outstanding initiative and accomplishment in protecting and preserving the natural environment, or establishing good community relations during an exploration program, development or operation of a mine.
Sabina is being recognized for its efforts related to environmental responsibility and Indigenous engagement in Canada’s north. Sabina is committed to developing a world class gold mine at the Project which benefits Nunavut and contributes to the sustainable development of its communities.
Sabina’s Vice President of Environment & Sustainability, Matthew Pickard, said, “after ten years of consultation with Nunavummiut of the Kitikmeot Region we have been able to advance a Project that enjoys widespread community support and will result in meaningful contributions to northerners. I am proud of the work we have been able to accomplish with our community partners and look forward to developing a successful mine together.”
“We are extremely pleased to receive this prestigious international award recognizing our accomplishments in sustainability,” said Bruce McLeod, President & CEO. “Considerable stakeholder engagement and consultation has resulted in the creation of what we believe are new standards for environmental protection in the North. We couldn’t have achieved this recognition without the hard work and contributions of the Kitikmeot Inuit Association and all the communities of the Kitikmeot Region.”
SABINA GOLD & SILVER CORP
is an emerging gold mining that 100% owns the district scale, advanced, high grade Back River Gold District in Nunavut, Canada.
Sabina recently filed an Updated Feasibility Study (the “UFS”) on its first mine in the district, the Goose Mine, which presents a project that will produce ~223,000 ounces of gold a year (first five years average of 287,000 ounces a year with peak production of 312,000 ounces in year three) for ~15 years with a rapid payback of 2.3 years, and a post-tax IRR of ~28% and NPV5% of C$1.1B. See “National Instrument (NI) 43-101 Technical Report – 2021 Updated Feasibility Study for the Goose Project at the Back River Gold District, Nunavut, Canada” dated March 3, 2021.
The Project received its final major authorization on June 25, 2020 and is now in receipt of all major permits and authorizations for construction and operations.
The Company is also very committed to its Inuit stakeholders, with Inuit employment and opportunities a focus. The Company has signed a 20-year renewable land use agreement with the Kitikmeot Inuit Association and has committed to various sustainability initiatives under the agreement.
In addition to Back River, Sabina also owns a significant silver royalty on Glencore’s Hackett River Project. The silver royalty on Hackett River’s silver production is comprised of 22.5% of the first 190 million ounces produced and 12.5% of all silver produced thereafter.
The Company recently announced that it has received indicative terms sheet for project debt and a streaming agreement and is currently advancing definitive documentation in connection with both the project finance facility and the streaming transaction. Final definitive documentation is expected to be concluded in January 2022, which would enable construction to commence in the new year.
For further information please contact:
Nicole Hoeller, Vice-President, Communications: 1 888 648-4218
Forward Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws (the “forward-looking statements”), including, but not limited to, statements related to the expected execution of definitive documents, the date for commencement of construction and the projections and assumptions of the results of the UFS. These forward-looking statements are made as of the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. Such factors and assumptions include, among others, the uncertainty of production, development plans and costs estimates for the Back River Gold Project; discrepancies between actual and estimated mineral reserves and mineral resources, between actual and estimated development and operating costs; the interpretation of drill, metallurgical testing and other exploration results; the ability of the Company to retain its key management employees and skilled and experienced personnel; exploration, development and mining risks and the inherently dangerous nature of the mining industry, and the risk of inadequate insurance or inability to obtain insurance to cover these risks and other risks and uncertainties; property and mineral title risks including defective title to mineral claims or property; the effects of general economic conditions, commodity prices, changing foreign exchange rates and actions by government and regulatory authorities; and misjudgments in the course of preparing forward-looking statements. In addition, there are known and unknown risk factors which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with exploration and project development; the need for additional financing; the calculation of mineral resources and reserves; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; government regulation; obtaining and renewing necessary licenses and permits; environmental liability and insurance; reliance on key personnel; the potential for conflicts of interest among certain of our officers or directors; the absence of dividends; currency fluctuations; labour disputes; competition; dilution; the volatility of the our common share price and volume; future sales of shares by existing shareholders; and other risks and uncertainties, including those relating to the Back River Project and general risks associated with the mineral exploration and development industry described in our Annual Information Form, financial statements and MD&A for the fiscal period ended December 31, 2020 filed with the Canadian Securities Administrators and available at www.sedar.com. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.
Bruce McLeod, President & CEO
1800-555 Burrard Street, Two Bentall Centre
Vancouver, BC V7X 1M9
Tel 604 998-4175 Fax 604 998-1051
INITIAL DRILLING AT SANTO TOMAS CONFIRMS GRADESHELL MODEL
Vancouver, Canada, Dec. 09, 2021 (GLOBE NEWSWIRE) — Oroco Resource Corp. (TSX-V: OCO, OTC: ORRCF) (“Oroco” or “the Company”) is pleased to announce…
Vancouver, Canada, Dec. 09, 2021 (GLOBE NEWSWIRE) —( , OTC: ORRCF) (“Oroco” or “the Company”) is pleased to announce the receipt of the assay results from its initial drilling campaign at its Santo Tomas property (the “Property”) in northwestern Mexico. Eight drill holes have been completed to date, all in the North Zone (see Figure 1, attached). An additional two drill holes in the North Zone are completed, pending surveying. A further two drill holes are in progress in the North Zone, and another in the Brasiles Zone. Assays reported herein are for the first three holes (N001 to N003) comprising 2,350m of HQ3 and NQ3 diameter diamond drilling which produced 1,492 assay samples.
The Company is very pleased that the initial drilling results confirms the following:
- Copper grades in holes N001 to N003 are comparable to the historical drilling reported on each of the cross-sections drilled to date.
- Drilling results in N001 to N003 conform closely to, and confirm the geological conclusions and the 2009 Gradeshell model of Cu > 0.3% (the “2009 Gradeshell Model”) contained in the current Technical Report (‘the “Technical Report”) (Bridge, 2019: See SEDAR, or the Company’s website www.orocoresourcecorp.com/projects/technical-reports/). (see Figures 2, 3 and 4, attached).
- Geological logging indicates copper is present as chalcopyrite and bornite dissemination and vein fillings. Pyrite is relatively sparse in the main drill intersections.
- Molybdenum, gold and silver are elevated across the width of the North Zone and provide about a 15 to 20% contribution to the copper equivalent grade, without factoring for metallurgical recoveries.
- Fracturing, Laramide intrusive dikes, mylonite zones, veining and sulphide mineralization are controlled by faulting co-eval with the formation of the North Zone deposit. The deposit is confirmed in drilling with a strike of N20°E and a dip of 50-55°W, as reported in the Technical Report.
- Sulphide mineralization in the main intersections on the North Zone are hosted in strongly potassic-altered volcanic and intrusive rocks with an overprint of phyllic alteration.
- The footwall of the North Zone is propylitic-altered andesite volcanic rock with disseminated and vein filling pyrite, explaining the extreme Chargeability High response in the 3D IP survey.
The Santo Tomas Cu-Mo-Au porphyry deposit is an example of the geologic style of Laramide-age porphyry copper deposits in the southwestern United States and northwestern Mexico. Historical Pre-Feasibility Studies, recent 3D modelling of historical drilling, and several new programs of geophysical surveying have defined drill targets, both for confirmation of historical mineral resource estimates and for exploration for additional resources.
The 2021 drill program commenced on the central North Zone mineral deposit to confirm historical drill results and the Company’s geological modelling, and has now spanned 500 m of strike length on the North Zone. Historical drilling spanning 1968 to 1994 was primarily vertical and unsuited to defining the full width and depth of the North Zone. The 2021 program is based on angled drill holes oriented perpendicular to the re-modelled strike and dip of the deposit and is the first program that features drill holes that pass from the hanging wall of the North Zone deposit into the footwall and which also features a full suite of assay information that includes copper, molybdenum, gold and silver.
Table 1 contains the most significant intervals in drill holes N001 to N003. Core intervals in this disclosure are within 10% of the estimated true thickness. The Copper Equivalent (%) grade is presented for geological comparisons only within this program and was calculated based on the three-year average of commodity prices with no factoring for metallurgical recoveries, which are not yet known. Silver is noted in Table 1 but not included in the copper equivalent grade calculation. The attached cross-sections depict all core intervals in N001 to N003 exceeding 10m core length of Cu > 0.10%.
Table 1: Significant Assay Intervals in the Santo Tomas 2021 Program, DDH N001 to N003.
|Drill Hole No.|| From
|Cu %||Mo %||Au g/t||Ag g/t||CuEq %|
Cu Equivalent (CuEq) % = Cu % + (Mo %*3.75) + (Au ppm*0.752) The commodity prices (3-year Average) used are in $US: Cu $3.20 /lb, Mo $12.00 /lb, and Au $1, 650.00 /troy oz. Ag was not used.
Initial drilling results confirm the 3D IP modelling of the deep penetrating Dias Geophysical Induced Polarization Survey completed in early 2021. A broad Chargeability High (> 15.8 mV/V) anomaly coincides with the North Zone mineral deposit and its flanks. Drilling of holes N001 to N003 confirms that the dip of the 2009 Gradeshell Model and the edge of the Chargeability High in the 3D IP are closely co-incident and reliable guides for the drilling program. The anomaly passes the 600m depth limit of the 3D IP survey, indicating a broad zone of drilling targets at depth below the limit of the Gradeshell Model.
Additionally, drilling confirms that the North Zone is comprised of intensely fractured, potassic- and phyllic-altered andesite volcanics and Laramide-age porphyritic intrusive dikes. Elevated Mo, Au and Ag accompany copper assays along the central axis of the North Zone. Pyrite is relatively low in the core of the North Zone, explaining the IP response that is in the mid-range of the Chargeability High responses on the Property. In contrast, drilling into the footwall of the North Zone in N001 to N003 consistently intersected propylitic-altered andesite. The footwall contains abundantly disseminated and vein pyrite, explaining the pronounced Chargeability High and a corresponding Resistivity Low in the 3D IP modelling.
Minor footwall copper intersections in historical and recent drill holes are documented. Diamond drill hole N003 intersected the best footwall grades to date and indicates that the footwall propylitic zone is prospective for widening the North Zone at depth and northward along strike towards the Brasiles Zone.
TECHNICAL INFORMATION AND QUALITY CONTROL & QUALITY ASSURANCE
The historical drilling data employed in this current exploration program was the subject of Data Verification procedures cited in the current Technical Report. Additional drill collar verifications were performed in the current program and collar locations fit closely to the 2021 survey control. Appropriate QA/QC protocols governed geological logging, core sampling, sample preparation, analyses, and security during the current program, including quality controls with duplicates, standards, and blanks. Samples were submitted to the Mexican division of ALS Limited in Hermosillo, Mexico, for sample preparation to pulps. Sample pulps are sent to ALS Canada Ltd. in Vancouver, Canada, for analysis. Total copper and molybdenum contents are determined by four-acid digestion with AAS finish. Gold was determined by fire assay of a 50-gram charge, or alternately, for a 30-gram charge (1 Assay ton).
Mr. Paul McGuigan, P. Geo., of Cambria Geosciences Inc., a “Qualified Person” (as defined in NI 43-101 -Standards for Disclosure for Mineral Projects) and a senior consulting geoscientist to the Company, has reviewed and approved the technical disclosures in this news release.
The Company holds a net 73.2% interest in the collective 1,172.9 ha Core Concessions of the Santo Tomas Project in NW Mexico. The Company also holds a 77.5% interest in 7,807.9 ha of mineral concessions surrounding and adjacent to the Core Concessions (for a total project area of 22,192 acres). The Project is situated within the Santo Tomas District, which extends from Santo Tomas up to the Jinchuan Group’s Bahuerachi project, approximately 14 km to the north-east. Santo Tomas hosts a significant copper porphyry deposit defined by prior exploration spanning the period from 1968 to 1994. During that time, the property was tested by over 100 diamond and reverse circulation drill holes, totaling approximately 30,000 meters. Based on data generated by these drill programs, a historical Prefeasibility Study was completed by Bateman Engineering Inc. in 1994.
The Santo Tomas Project is located within 160km of the Pacific deep-water port at Topolobampo and is serviced via highway and proximal rail (and parallel corridors of trunk grid power lines and natural gas) through the city of Los Mochis to the northern city of Choix. The property is reached by a 32 km access road originally built to service Goldcorp’s El Sauzal Mine in Chihuahua State.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Information
This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact included herein, including without limitation, statements relating to future events or achievements of the Company, are forward-looking statements. There can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated or implied in such statements. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these matters. Oroco does not assume any obligation to update the forward-looking statements should they change, except as required by law.
CONTACT: Craig Dalziel [email protected](604) 688-6200
Lithium Chile Completes Reconaissance Exploration Program on Apolo and Sancarron Gold-Siver Properties In Chile (TSXV:LITH) (OTCBB:LTMCF)
CALGARY, ALBERTA – TheNewswire – December 9, 2021 – Lithium Chile Inc. (“Lithium Chile” or the “Company”) (TSXV:LITH) (OTC:LTMCF) is pleased…
CALGARY, ALBERTA – TheNewswire – December 9, 2021 – (“Lithium Chile” or the “Company”) () (OTC:LTMCF) is pleased to announce it has completed an exploration program on its Apolo and Sancarron Properties in the El Indio gold and silver belt in Chile. This is the first exploration program ever conducted on these two prospects by Lithium Chile. The program involves a helicopter born reconnaissance and sample program on four of the numerous alteration zones on the properties. The samples collected have been delivered to the ALS Laboratory in La Serena, Chile for assaying. The program was designed to access the potentiality of both properties for high grade vein and disseminated gold – silver deposits such as the multi-million ounce El Indio (20 km south) and Pasqua Llama (35 km north) deposits. It is Lithium Chile’s intent to seek a joint venture partner to move both projects forward and the data collected from this initial program is designed to facilitate that process. The Apolo/Sancarron properties cover an area of 5,229 hectares in total.
Lithium Chile also announces that, further to its news release dated May 13, 2021, it has completed the issuance of common shares of the Company (“Shares”) pursuant to a consulting agreement (the “Agreement”) entered into with a third party (the “Provider”) for the purposes of providing the Company with a social media presence. The Company previously announced the issuance of 211,764 Shares at a deemed price of $0.34 per Share, and issued 105,882 Shares at a deemed price per share of $0.34 per Share on August 9, 2021 and 69,231 Shares at a deemed price of $0.52 per Share on December 6, 2021. All of the Shares issuable pursuant to the Agreement have now been issued and the debt has been extinguished.
Completion of the Agreement is subject to regulatory approval including, but not limited to, the approval of the TSX Venture Exchange. The securities issued pursuant to the Agreement are subject to a four month hold period from the date of issuance.
About Lithium Chile
Lithium Chile is advancing a lithium property portfolio consisting of 69,200 hectares covering sections of 10 salars and two laguna complexes in Chile and 1 property of 23,300 hectares in Argentina.
Lithium Chile also owns 5 properties, totaling 22,429 hectares, that are prospective for gold, silver and copper. Exploration efforts are continuing on Lithium Chile’s Carmona gold/silver/copper property which lies in the heart of the Chilean mega porphyry gold/ silver/copper belt.
Lithium Chile’s common shares are listed on the TSX-V under the symbol “LITH” and on the OTC-BB under the symbol “LTMCF”.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward Looking Statements
This news release may contain certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “expected”, “anticipated”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. In particular, this news release contains forward-looking statements relating to, among other things: the Company’s ability to obtain necessary approvals from the TSX Venture Exchange and the timing and assay results from the sample program. Such forward-looking statements are based on various assumptions and factors that may prove to be incorrect, including, but not limited to, factors and assumptions with respect to: the general stability of the economic and political environment in which the Company operates; the timely receipt of required regulatory approvals; the ability of the Company to obtain future financing on acceptable terms; currency, exchange and interest rates; operating costs; the success the Company will have in exploring its prospects and the results from such prospects. You are cautioned that the foregoing list of material factors and assumptions is not exhaustive. Although the Company believes that the assumptions and factors on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct or that any of the events anticipated by such forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive there from. Actual results could differ materially from those currently anticipated due to a number of factors and risks including, but not limited to: fluctuations in market conditions, including securities markets; economic factors; the risk that the new lithium exploration tender process does not yield the anticipated benefits to the Company, if at all; the risk that the Offering will not be completed as anticipated or at all, including the risk that the Company will not receive the approvals necessary in connection with the Offering; and the impact of general economic conditions and the COVID-19 pandemic. The Company does not undertake to update any forward-looking statements herein, except as required by applicable securities laws. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Copyright (c) 2021 TheNewswire – All rights reserved.
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