YERINGTON, Nev., Nov. 08, 2021 (GLOBE NEWSWIRE) — Yerington, NV – November 8, 2021 –( ) (OTC: NEVDF) (FSE: ZYTA) (“Nevada Copper” or the “Company”) today provided a further update on positive October operational performance at the Company’s underground mine at its Pumpkin Hollow Project (the “Underground Mine”).
October Operational Highlights
- Consistent Progress on Stoping
- Stoping rates continue to accelerate, with four stopes mined in H2 2021, including the most recent stope with an estimated grade of over 2% Cu.
- Mining of the higher-grade Sugar Cube zone is planned to begin next month. This will be the first stope mined in the East North area which is expected to have significantly larger stope sizes.
- Dike Heading Progressing
- The lateral development beyond the completed first dike crossing is progressing at targeted rates. The geotechnical information learned from this crossing has been implemented on the second dike heading, which is now advancing well. This and the first heading will provide access to additional stopes adding to the Company’s growing stope inventory in H1 2022.
- Surface Ventilation Fans
- The surface ventilation fans are scheduled to arrive in late Q4 of this year and are expected to be commissioned on time in line with the requirements of the mine plan as Underground Mine development progresses towards completion of the ramp up.
- Hiring Nearing Completion
- The Company is nearing completion of hiring key mining technical positions, with a new mine manager now onboarded and a technical services manager expected to be hired in November.
- A Project Management Office has now been established on site in order to efficiently complete the remaining key infrastructure items, including the surface ventilation fans and an additional ore pass.
Randy Buffington, President and Chief Executive Officer, commented: “I am very pleased with the progress the team has made through the end of October and to date. The accelerated stope delivery we are starting to see should increase as we continue to benefit from the improving contractor performance levels which has been facilitated by key management hirings and the implementation of enhanced management systems at Pumpkin Hollow.”
The technical information and data in this news release was reviewed by Greg French, C.P.G., VP Head of Exploration of Nevada Copper, and Neil Schunke, P.Eng., a consultant to Nevada Copper, who are non-independent Qualified Persons within the meaning of NI 43-101.
About Nevada Copper
Nevada Copper () is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade Underground Mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.
Randy Buffington, President and CEO
For further information contact:
Rich Matthews, Investor Relations
+1 604 757 7179
This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to mine development, production and ramp-up objectives and equipment installation.
Forward-looking statements and information include statements regarding the expectations and beliefs of management. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information should not be read as guarantees of future performance and results. They are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and events to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.
Such risks and uncertainties include, without limitation, those relating to: the ability of the Company to complete the ramp-up of the Underground Mine within the expected cost estimates and timeframe; requirements for additional capital and no assurance can be given regarding the availability thereof; the impact of the COVID-19 pandemic on the business and operations of the Company; the state of financial markets; history of losses; dilution; adverse events relating to milling operations, construction, development and ramp-up, including the ability of the Company to address underground development and process plant issues; failure to obtain the effectiveness of extensions under and amendments to the Company’s amended and restated senior credit facility with KfW IPEX-Bank; ground conditions; cost overruns relating to development, construction and ramp-up of the Underground Mine; loss of material properties; interest rates increase; global economy; limited history of production; future metals price fluctuations; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates from management’s expectations and the difference may be material; legal and regulatory proceedings and community actions; accidents; title matters; regulatory approvals and restrictions; increased costs and physical risks relating to climate change, including extreme weather events, and new or revised regulations relating to climate change; permitting and licensing; volatility of the market price of the Company’s securities; insurance; competition; hedging activities; currency fluctuations; loss of key employees; other risks of the mining industry as well as those risks discussed in the Company’s Management’s Discussion and Analysis in respect of the year ended December 31, 2020 and in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 18, 2021. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. The forward-looking information or statements are stated as of the date hereof. Nevada Copper disclaims any intent or obligation to update forward-looking statements or information except as required by law. Readers are referred to the additional information regarding Nevada Copper’s business contained in Nevada Copper’s reports filed with the securities regulatory authorities in Canada. Although the Company has 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 could cause actions, events or results not to be as anticipated, estimated or intended. For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper’s filings that are available at www.sedar.com.
Nevada Copper provides no assurance that forward-looking statements and information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
Kibali Delivers Another Stellar Performance and Expects to Grow Its Mineral Reserves Net of Depletion
All amounts expressed in US dollars KINSHASA, Democratic Republic of Congo, Jan. 21, 2022 (GLOBE NEWSWIRE) — Barrick Gold Corporation (NYSE:GOLD)…
All amounts expressed in US dollars
KINSHASA, Democratic Republic of Congo, Jan. 21, 2022 (GLOBE NEWSWIRE) —(NYSE:GOLD) ( ) – The Kibali gold mine produced a total of 812,152 ounces1, well within guidance for 2021, and expects to increase its mineral reserves net of depletion for the third successive year, maintaining its plus 10-year life as one of ’s Tier One2 assets.
At a media briefing here, Barrick president and chief executive Mark Bristow noted that this performance, which grew steadily stronger during the year, was achieved with no lost time injuries during the last quarter. Like all Barrick’s mines worldwide, Kibali retained its ISO 45001 safety and ISO 14001 environmental accreditations.
At the same time, Kibali continued to lead the group’s clean energy drive with power sourced from its three continuously upgraded hydropower stations supported by new back-up battery technology.
“Kibali’s performance was supported by reinforced Covid-19 protocols to deal with the fourth wave of the virus. The mine worked closely with the DRC’s health authorities and the provincial government to source vaccines and to date has partially vaccinated 60% of its workforce, with 43% of the workforce fully vaccinated,” Bristow said.
“It also strengthened its local business partnerships to build a sustainable economy in the region. During Q4 it spent $40.6 million with local contractors and suppliers, bringing the total since the start of Kibali to $2.1 billion. To date, Kibali has invested some $3.7 billion in the DRC in the form of taxes, permits, infrastructure, salaries and payments to local partners.”
During the fourth quarter Kibali paid a dividend of $170 million to shareholders of Barrick, AngloGold Ashanti and government parastatal, SOKIMO, bringing the total distribution for the year to $200 million. Bristow said Barrick and the Congolese authorities were working together on a program to release cash for the repayment of offshore loans.
During the quarter Kibali launched the Garamba Alliance, a biodiversity partnership with the US Agency for International Development (USAID) designed to preserve this World Heritage park through anti-poaching actions and other conservation initiatives. This partnership is also designed to secure a sustainable economic future for the local community surrounding the park.
Looking ahead, Bristow said underground drilling at the KCD orebody was defining a new high-grade lode above the base of the shaft infrastructure. This was an exciting discovery which could add an entirely new orebody to the existing KCD series of orebodies.
President and CEO
+1 647 205 7694
+44 788 071 1386
COO, Africa and Middle East
+44 779 557 5271
DRC country manager
+243 812 532 441
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: [email protected]
On a 100% basis.
A Tier One Gold Asset is an asset with a reserve potential to deliver a minimum 10-year life, annual production of at least 500,000 ounces of gold and total cash costs per ounce over the mine life that are in the lower half of the industry cost curve.
Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “expect”, “will”, “maintain”, “potential”, “could”, “guidance”, “opportunities”, “design” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Kibali’s production guidance and performance; opportunities to grow reserves net of depletion and extend Kibali’s mine life; securing Kibali’s status as Tier One mine; the anticipated environmental and operational benefits from Kibali’s investment in its hydropower stations and battery technology; Kibali’s health, safety and environmental protection programs, including its Covid-19 prevention protocols and initiatives to secure Covid-19 vaccines as well as the Garamba Alliance; the results of underground drilling at the KCD orebody and the definition of a new high-grade lode; Barrick’s engagement with Congolese authorities on a program to release cash in the DRC for the repayment of offshore loans; and Barrick’s commitment to the DRC and potential further growth opportunities.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes; the possibility that future exploration results will not be consistent with the Company’s expectations; risks that exploration data may be incomplete and considerable additional work may be required to complete further evaluation, including but not limited to drilling, engineering and socioeconomic studies and investment; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with projects in the early stages of evaluation, and for which additional engineering and other analysis is required; failure to comply with environmental and health and safety laws and regulations; timing of receipt of, or failure to comply with, necessary permits and approvals; uncertainty whether some or all of Barrick’s targeted investments and projects will meet the Company’s capital allocation objectives and internal hurdle rate; changes in national and local government legislation, taxation, controls or regulations and/ or changes in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in the DRC and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; damage to the Company’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company’s handling of environmental matters or dealings with community groups, whether true or not; risks associated with new diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic; litigation and legal and administrative proceedings; employee relations including loss of key employees; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; and availability and increased costs associated with mining inputs and labor. Barrick also cautions that its guidance may be impacted by the unprecedented business and social disruption caused by the spread of Covid-19. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.
Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
High-Grade Assay Results at the Parnell-Vulture Trend
HIGHLIGHTS First phase of a 15,000 metre reverse circulation (“RC”) drilling program across shallow oxide mineralization on granted mining leases…
- First phase of a 15,000 metre reverse circulation (“RC”) drilling program across shallow oxide mineralization on granted mining leases at the Parnell-Vulture Trend was completed prior to the 2021 holiday period, with 83 holes drilled for a total of 5,200 metres
- PhotonAssay gold results from Parnell have been received, with significant assays including:
- 7 m at 7.75 g/t gold from 31 m in 21NU0198,
- 4 m at 10.19 g/t gold from 31 m in 21NU0196,
- 13 m at 2.51 g/t gold from 21 m in 21NU0156, and
- 8 m at 3.14 g/t gold from 4 m in 21NU0156
- Initial results received from Vulture include:
- 8 m at 10.02 g/t gold from 11 m in 21NU0216
- Further results from holes drilled prior to the holiday period will be released in coming weeks
- Drilling on the Parnell – Vulture trend is scheduled to recommence on January 24, 2022
The above results are not necessarily representative of mineralization throughout the Parnell-Vulture Trend. Refer to Table 1 for drill results for all holes drilled to date at Parnell – Vulture.
VANCOUVER, British Columbia, Jan. 21, 2022 (GLOBE NEWSWIRE) — figure 1). Parnell – Vulture is located some 45 kms from the Company’s Golden Eagle processing facility (“Golden Eagle Plant”) and is accessed by a robust, reliable haul road and associated infrastructure.(“Novo” or the “Company”) ( , NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to provide a drilling update for the Parnell-Vulture trend in Western Australia. The RC drilling planned at Parnell and Vulture is part of the Nullagine Gold Project (“NGP”) exploration program ramp-up, with forward programs currently being generated at several priority basement targets (
(Figure 1: Location map for NGP showing Novo tenure and priority prospects.)
Drilling completed before the holiday period comprised 83 RC holes for 5,200 metres (figure 4), drilled by experienced contractor Stark Drilling using a truck mounted Schramm 450. The initial program at Parnell focussed on every alternate planned drill line, in order to fast track strike coverage. The quick assay turnaround means that best drilling intersections can be followed up immediately whilst the remainder of the program is ongoing.
Parnell – Vulture covers a strike length of approximately 2 kms and contains a series of vein-hosted targets with historical drill intercepts including 9 m at 8.4 g/t gold from 7 m, 12 m at 14.6 g/t gold from 40 m and 7 m at 6.1 g/t gold from 40 m1. These results are not necessarily representative of mineralization throughout the district. Refer to Table 2 for drill results for all holes drilled to date at Parnell – Vulture.
Recent results for Parnell – Vulture, received via the Company’s priority arrangement with Intertek2, show similar width and grade tenor as historical drilling intersections, improving confidence in historical data and potential strike extent.
Most significant results are located around the historic workings at Parnell, including 4 m at 10.19 g/t gold in hole 21NU0196 (figure 2). The main target is a ~ 10m wide E-W to WNW trending shear variably intruded by porphyry. Mineralization dips moderately to steeply to the south (generally 70 degrees). Sandstone and interbedded siltstone-sandstone sequences adjacent to the main shear are extremely bleached in the weathering profile, indicating likely sericite alteration of the original rock. Alteration is up to 50 m wide. Several other dykes are present in the area, mainly sub-parallel to stratigraphy, including a 6 m thick dolerite dyke and a hornblende porphyritic gabbro.
Results show good continuity along strike (figure 3), and on section show numerous small but frequent high-grade shoot like components. Further infill and extensional drilling will be designed to test this area.
(Figure 2, section at Parnell showing 21NU0196 results in relation to the main shear zone)
Importantly a series of significant drill intersections are located approximately 550 m along strike to the north-west including 13 m at 2.51 g/t gold from 21 m in 21NU0156, and 8 m at 3.14 g/t gold from 4 m in 21NU0156 (figure 3). This shows the complexity of the system at Parnell and the scale potential of the system along strike.
In addition, the 6 m at 5.28 g/t gold from 29 m in 21NU0204 is located to the north of Parnell in one of the mapped vein swarms. The vein swarm was identified from rock sampling and anomalous results in historical drilling and was tested with a single line of drilling.
Assays received to date also included the first batch from Vulture, including 8 m at 10.02 g/t gold from 11 m in 21NU0216 drilled adjacent to a historical working and in an area of complex quartz veining. Historical results in this area are sparse, and include a best result of 12 m at 2.76 g/t. These results are not necessarily representative of mineralization throughout Vulture. All other results from Vulture are pending and are anticipated within the next three to four weeks.
(Figure 3: Map of historical and Novo significant intercepts at Parnell and Vulture prospect to date.)
(Figure 4: RC drilling status at Parnell and Vulture.)
Drilling was based on detailed mapping and targeted to be perpendicular to mineralization as much as practical. In some areas, the geology is complex and due to the explorative nature of the work, the true width of mineralization cannot yet be precisely determined.
RC samples from Parnell and Vulture were submitted to Intertek in Perth, Australia. Samples are crushed to -2 mm and RSD split into a single 500-gram jar for PhotonAssay. To test for gold variability and potential coarse gold effect, field duplicates and crushed duplicates were analysed. Standards and blanks are inserted in the sample sequence to test for lab performance.
There were no limitations to the verification process and all relevant data was verified by a qualified person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects by reviewing analytical procedures undertaken by the various laboratories. Dr. Quinton Hennigh (P. Geo.) is the qualified person responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is the Non-Executive Co-Chairman and a director of Novo.
Novo operates its flagship Beatons Creek gold project while exploring and developing its prospective land package covering approximately 13,250 square kilometres in the Pilbara region of Western Australia. In addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail [email protected].
On Behalf of the Board of Directors,
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, that forward programs are currently being generated at several priority basement targets at the NGP, that further infill and extensional drilling will be designed to test the Parnell area, and that all other results from Vulture are anticipated within the next two weeks. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, the actual time required by Intertek Laboratory to process samples, customary risks of the resource industry and the risk factors identified in Novo’s management’s discussion and analysis for the nine-month period ended September 30, 2021, which is available under Novo’s profile on SEDAR at www.sedar.com. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, Novo assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If Novo updates any forward-looking statement(s), no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements.
Table 1, collar table of all holes drilled to date
|HOLE ID||COORDSYS||EASTING||NORTHING||HEIGHT||AZI GRID||DIP||TYPE||DEPTH||LEASE|
Table 2, Significant intercept table for all results from this phase of drilling with a gram * metre intersection greater than 1. The table is generated using a 0.5 g/t gold cut off and no more than two metre internal waste.
|HOLE ID||FROM||TO||Au ppm||WIDTH||GRAM*METRES|
Core Assets Closes Oversubscribed Private Placement of $1,597,860 Led By Crescat
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / January 21, 2022…
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESSWIRE / January 21, 2022 /, (“Core Assets” or the “Company“) ( )(FRA:5RJ)(WKN:A2QCCU)(ISIN:CA 21871U 10 5)(OTCQB:CCOOF) is pleased to announce that it has completed its previously announced non-brokered private placement (the “Offering“), as described in its News Release of December 29, 2021, pursuant to which it issued an aggregate of 6,657,752 units (each, a “Unit“) at a price of $0.24 per Unit for gross proceeds of $1,597,860.48.
Each Unit is comprised of one common share (each, a “Share“) in the capital of the Company and one transferable Share purchase warrant (each, a “Warrant“). Each Warrant entitles the holder thereof to purchase one additional Share (each, a “Warrant Share“) for a period of two years from the closing date (the “Closing Date“) at an exercise price of $0.39 per Warrant Share.
In connection with the Offering, Crescat Portfolio Management LLC (“Crescat“) and certain accounts managed by Crescat Portfolio Management LLC collectively made an strategic investment in the Company of approximately $1,275,000 (the “Crescat Investment“). Contemporaneous to and as consideration for the Crescat Investment, the Company granted Crescat a right to participate in future financings of the Company (the “Participation Right“) so as to allow Crescat to maintain its current equity stake. The Participation Right terminates on the earlier of: (i) the date that is 5 years from the date of grant of the Participation Right, and (ii) the date on which Crescat’s ownership of Shares falls below 5% of the then outstanding Shares on a non-diluted basis.
All securities issued in connection with the Offering are subject to a four month hold as required under applicable securities laws as well as an 18 month voluntary hold from the Closing Date split up into 3 releases of one third (1/3) of the securities issued in connection with the Offering every six months from the Closing Date.
The proceeds of the Offering are anticipated to be used for further exploration programs at the Company’s Blue Property and for general working capital purposes. Insiders of the Company may participate in the Offering. Cash finder’s fees of $4,100.64 were paid to eligible finders in connection with the Offering.
Andrew Carne and Sean Charland, directors of the Company, and Jody Bellefleur the Chief Financial Officer of the Company, were issued 20,800 Units, 85,000 Units and 25,000 Units respectively under the Offering. Accordingly, each of Messrs. Carne’s and Charland’s and Ms. Bellefleur’s subscriptions constituted a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The issuance to the insiders was exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Company’s shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the securities issued to the related parties did not exceed 25% of the Company’s market capitalization.
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Core Assets is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in British Columbia, Canada. The Company currently holds 100% title ownership in the Blue Property, which covers a land area of ~108,337 Ha (~1,083 km²). The project lies within the Atlin Mining District, a well-known gold mining camp locate in the unceded territory of the Taku River Tlingit First Nation. The Blue Property hosts a structural feature known as The Llewellyn Fault Zone (“LFZ“). This structure is approximately 140 km in length and runs from the Tally-Ho Shear Zone in the Yukon, south through the property to the Alaskan Panhandle Juneau Ice Sheet in the United States. Core Assets believes that the south Atlin Lake area and the LFZ has been neglected since the last major exploration campaigns in the 1980’s. The LFZ plays an important role in mineralization of near surface metal occurrences across the property. The past 50 years have seen substantial advancements in the understanding of porphyry, skarn, and carbonate replacement type deposits both globally and in BC’s Golden Triangle. The Company has leveraged this information at the Blue Property to tailor an already proven exploration model and believes this could facilitate a discovery. Core Assets is excited to become one of the Atlin Mining District’s premier explorers, where its team believes there are substantial opportunities for new discoveries and development in the area.
On Behalf of the Board of Directors
President & CEO
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include, but are not limited to, the anticipated use of proceeds from the Offering, and any statements regarding the Company’s business, properties and future exploration goals; that the LFZ structural feature on the Blue Property plays an important role in mineralization of near surface metal occurrences across the property; and that the Blue Property has substantial opportunities for a discovery and development. It is important to note that the Company’s actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that: the Company may use the proceeds from the Offering differently than as disclosed herein; further permits may not be granted timely or at all; the mineral claims may prove to be unworthy of further expenditure; there may not be an economic mineral resource; methods we thought would be effective may not prove to be in practice or on our claims; economic, competitive, governmental, environmental and technological factors may affect the Company’s operations, markets, products and prices; the Company’s specific plans and drilling timing, field work and other plans may change; the Company may not have access to, or be able to develop any minerals because of cost factors, type of terrain, or availability of equipment and technology; and the Company may also not raise sufficient funds to carry out its plans. The novel strain of coronavirus, COVID-19, also poses new risks that are currently indescribable and immeasurable. Additional risk factors are discussed in the section entitled “Risk Factors” in the Company’s Management Discussion and Analysis for its recently completed fiscal period, which is available under Company’s SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward-looking statement risk factors.
The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
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