Hole BA21-30: 3.2 m (core length) grading 3.03 g/t Gold and 703 g/t Silver
Including 0.20 m (core length) of native silver grading 10,565 g/t Silver
Including: 0.85 m (core length) grading 8.74 g/t Gold
Hole BA21-34: 1.50 m (core length) grading 4.88 g/t Gold and 10.67 g/t Silver
Including: 0.25 m (core length) grading 28.7 g/t Gold and 59 g/t Silver
VANCOUVER, British Columbia and HONG KONG, Sept. 08, 2021 (GLOBE NEWSWIRE) -- Reyna Silver Corp. (TSXV: RSLV; OTCQX: RSNVF; FRA: 4ZC) (“Reyna” or the "Company") is pleased to report results from the first seven holes totaling 1,095 meters of its 10,000-meter Stage 1 drilling program, on its 100% owned Batopilas Project in Southwestern Chihuahua, Mexico. The first five holes BA21-29 to BA21-33 were targeted beneath exploration trenches cut in 2020 that revealed vein structures carrying coarse native silver typical of the Batopilas district (see Figure 2). Holes BA21-34 and 35 were drilled along the Teodoro Vein where 2020 trench sampling found high-grade gold values not previously encountered in the district (See press release of February 4, 2021).
- Hole BA21-30, the second hole drilled, successfully cut a native silver bearing vein (see Figure 3) approximately 35 meters beneath the best of the 2020 trenches. BA21-30 reported 3.2 m (core length) grading 3.03 g/t gold and 703 g/t silver, including 0.20 m (core length) of native silver grading 10,565 g/t silver and 0.85 m (core length) grading 8.74 g/t gold. This result is significant as it is a newly discovered native silver vein 2 km NE strike line extension to the historic Cobriza vein, a native silver vein (see Figure 1). This vein extension was discovered through our trenching program in late 2020 and this is the first time the area has been drilled.
- Hole BA21-34, the sixth hole drilled in the campaign, and the first hole in the Teodoro Vein Gold Zone, targeted 25 m beneath the surface expression of the vein cut from 45.7 to 45.95 meters or 1.50 m (core length) grading 4.88 g/t gold and 10.67 g/t silver, including 0.25 m (core length) grading 28.7 g/t gold and 59 g/t silver. This is also the first time the zone has been drilled.
Highlights of the assay results of the program to date are presented below in Table 1. A full list of assays with location maps and field photographs may be found on Reyna’s website www.reynasilver.com.
“Batopilas is Mexico’s historically highest-grade silver district, and we are delighted to have cut native silver in the second hole drilled beneath the new veins we exposed by trenching last year. We know from historic records that Batopilas native silver bodies can swell rapidly from a few centimeters to a meter or more, so we are really looking forward to offsetting these early widely-spaced holes to see if we have latched onto something big,” said Jorge Ramiro Monroy, Reyna Silver’s President and CEO. “Cutting gold at Teodoro is a welcome bonus that potentially opens an entirely new facet of this prolific district and our team is hard at work on that.”
“The elevated gold that we are encountering in this northeastern part of the district is a very pleasant surprise we have not seen during earlier work in the historic mining center,” said Dr. Peter Megaw, Reyna Silver’s Chief Exploration Advisor. “Notably the gold and silver do not seem to occur in the same core intervals, so it remains to be seen if we’re looking at different stages of mineralization or different sources.”
Table 1. Highlights of Initial Stage 1 Batopilas Drilling
|Hole #||From m||To m||Core Width* m||Au g/t||Ag g/t|
*Core length in hole, True Thickness indeterminate
** NSV = No Significant Values
Hole BA21-30 was the second hole drilled in the new 2021 exploration campaign. The hole was targeted beneath a series of trenches cut in 2020 (see Figure 1) along the projection of the vein trends from the historic western portion of the district. These trenches were cut through alluvium cover and exposed the blind native silver bearing “Cobriza” vein in a chloritized clastic andesite host rock. The native silver mineralization occurs in massive calcite gangue accompanied by traces of light colored “honey” sphalerite, which is historically known to be present in the extremes of Batopilas native silver ore shoots.
Hole BA21-34 was the sixth hole of the 2021 campaign and the first in the Teodoro vein area where high gold grades were found in 2020 trenching (see Figure 1). In contrast to the silver-rich Cobriza vein, the Teodoro is a gold-rich, quartz dominant vein breccia with abundant pyrite.
Please click on the link below to see Reyna Silver’s President and CEO, Jorge Ramiro Monroy explaining the initial drill results at the Batopilas project.
Batopilas is famous as Mexico’s highest-grade silver district, having produced an estimated 200-300 million ounces of silver from native-silver rich calcite veins averaging 200 ounces per ton silver. The native silver ore shoots occur sporadically along throughgoing structures traceable for multiple kilometers across the district. Historic mining proceeded by following these veins, often mere 1 to 2 cm calcite seams, until they opened up into 1 to 4m wide, steeply inclined shoots 30-80m wide on level and as much as 350m tall. Colonial era mining dominantly worked downwards from the surface, while the last organized mining in the district (1879-1913) was undertaken from tunnels driven at river level beneath the colonial workings. These modern efforts were interrupted by the Mexican Revolution in 1913 long before the deeper tunnels could be driven beneath many of the colonial era workings.
Reyna Silver’s exploration program in the district is focused on tracing the known and projected native-silver bearing veins into the less explored and exploited parts of the district using surface mapping, trenching and satellite imagery. Reyna’s planned 10,000 meters, Stage 1 drilling campaign began in June 2021 and is on-going.
Reyna Silver, follows industry standard procedures for diamond core drilling and sample analysis. Drilling is carried out using NQ and HQ size tooling. Drill core is cut in half using a diamond rock saw with one-half of the core then taken as a sample for analysis and the other one as a register. Sample intervals are generally from 0.2 to 2 m intervals, producing samples of between 0.6 to 10 kg. Half-core samples are delivered to the internationally certified ALS Minerals laboratory facilities in Chihuahua city where the samples are prepared. ALS has a Quality management system (ISO 17025) and Assays are completed by ALS Minerals in Canada. The samples are fire assayed for Au (Au-23) and are analyzed for Ag and multi-elements using method code ICP (ICP-41) following an aqua regia digestion. Over limits are analyzed using an appropriate method. Multi-element geochemical standards and blanks or duplicates are inserted systematically into the drill core sampling series to monitor lab performance. The control samples are inserted each 25 samples in the case of standards, blanks, and field duplicates, and for rejects and pulps duplicates each 30 samples intercalated. Referent to the chain of custody the samples are transported from Batopilas by own Reyna Silver personal to ALS Chemex in Chihuahua City.
Dr. Peter Megaw, Ph.D., C.P.G., the Company's Chief Exploration Advisor and Qualified Person, reviewed the technical aspects of exploration projects described herein and is responsible for the design and conduct of the exploration programs and the verification and quality assurance of analytical results. Dr. Megaw is not independent as he and/or companies with which he is affiliated hold Net Smelter Royalties on the Guigui and Batopilas Projects that predate Reyna Silver acquiring them.
About Reyna Silver
Reyna Silver Corp. is a silver exploration company with a robust portfolio of silver assets in Mexico and the US. The Company was built around the Guigui and Batopilas Projects, which formed part of MAG Silver’s original IPO portfolio. It is also actively exploring the Medicine Springs project in Nevada, another CRD target and the La Reyna Project in Chihuahua, an epithermal vein project in the historic district of Cusihuiriachi. Reyna’s strategy centers around leveraging its expertise in Mexico to explore projects that have the potential for high-grade, district-scale discoveries.
This document contains “forward-looking statements” within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration results and plans, and our other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. Such forward-looking statements include, without limitation, our estimates of exploration investment, the scope of our exploration programs, and our expectations of ongoing administrative costs. There can be no assurance that such statements will prove to be accurate, and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company’s documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates or opinions change, except as required by law. Forward-looking statements are subject to risks, uncertainties and other factors, including risks associated with mineral exploration, price volatility in the mineral commodities we seek, and operational and political risks. Readers are cautioned not to place undue reliance on forward-looking statements.
For Further Information, Please Contact:
Photos accompanying this announcement are available at:
A Video accompanying this announcement is available at:
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UEX Repays Loan From Denison
Saskatoon, Saskatchewan – TheNewswire – September 17, 2021 – UEX Corporation (TSX:UEX) (OTC:UEXCF) (“UEX” or the “Company”) is pleased…
Saskatoon, Saskatchewan – TheNewswire - September 17, 2021 – UEX Corporation (TSX:UEX) (OTC:UEXCF) (“UEX” or the “Company”) is pleased to announce that the Company has repaid its outstanding term loan (the “Term Loan”) from Denison Mines Corp. (“Denison”). The Term Loan was used by UEX to purchase JCU (Canada) Exploration Company, Limited (“JCU”), as more particularly described in UEX’s news release dated August 3, 2021.
UEX repaid the outstanding balance of C$20.45 million to Denison on September 17, 2021. Previously, C$20.5 million of the Term Loan was repaid upon UEX transferring 50% of the JCU shares to Denison immediately following the closing of the JCU acquisition (see UEX’s news release dated August 3, 2021). The shares of JCU owned by UEX that were pledged as security to Denison have been released to UEX.
UEX is a Canadian uranium and cobalt exploration and development company involved in an exceptional portfolio of uranium projects.
UEX’s directly-owned portfolio of projects is located in the eastern, western and northern perimeters of the Athabasca Basin, the world's richest uranium belt which in 2020 accounted for approximately 8.1% of the global primary uranium production. In addition to advancing its uranium development projects through its ownership interest in JCU, UEX is currently advancing several other uranium deposits in the Athabasca Basin which include the Paul Bay, Ken Pen and Ōrora deposits at the Christie Lake Project , the Kianna, Anne, Colette and 58B deposits at its currently 49.1%-owned Shea Creek Project, the Horseshoe and Raven deposits located on its 100%-owned Horseshoe-Raven Development Project and the West Bear Uranium Deposit located at its 100%-owned West Bear Project.
UEX is also 50:50 co-owner of JCU with Denison. JCU’s portfolio of projects includes interests in some of Canada’s key future uranium development projects, notably a 30.099% interest in Cameco’s Millennium Uranium Development Project, a 10% interest in Denison Mines Wheeler River Project, and a 33.8123% interest in Orano Canada’s Kiggavik Project, located in the Thelon Basin in Nunavut, as well as minority interests in nine other grassroots uranium projects in the Athabasca Basin.
UEX is also leading the discovery of cobalt in Canada, with three cobalt-nickel exploration projects located in the Athabasca Basin of northern Saskatchewan, including the only primary cobalt deposit in Canada. The 100% owned West Bear Project hosts the West Bear Cobalt-Nickel Deposit, the newly discovered Michael Lake Co-Ni Zone, and the West Bear Uranium Deposit. UEX also owns 100% of two early-stage cobalt exploration projects, the Axis Lake and Key West Projects.
FOR FURTHER INFORMATION PLEASE CONTACT
President & CEO
This news release contains statements that constitute "forward-looking information" for the purposes of Canadian securities laws. Such forward-looking information is based on a number of assumptions, which may prove to be incorrect. The actual results could differ materially from those anticipated in such forward-looking information as a result of the risk factors including: the timing and content of work programs; results of exploration activities of mineral properties; the interpretation of drilling results and other geological data; and general market and industry conditions. Many of these factors are beyond the control of UEX. Consequently, all forward-looking information contained in this news release is qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by UEX will be realized. For the reasons set forth above, investors should not place undue reliance on such forward-looking information. Except as required by applicable law, UEX disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
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American Manganese Files Final Prospectus and Amended Disclosure Documents
VANCOUVER, BC / ACCESSWIRE / September 17, 2021 / American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM)("AMY" or the "Company") is pleased to announce…
VANCOUVER, BC / ACCESSWIRE / September 17, 2021 / American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM)("AMY" or the "Company") is pleased to announce that the Company has filed on SEDAR (www.sedar.com) its final short form base shelf prospectus and an amended technical report (the "Amended Technical Report") for its Rocher Deboule mineral property (the "Property"). The Company has also filed and an amended annual information form for the year ended July 31, 2020 (the "Amended AIF").
As a result of a prospectus review by the British Columbia Securities Commission, certain revisions were made to the technical report for the Property which was originally published on October 25, 2020. The Amended Technical Report contains no material differences to the original technical report for the Rocher Deboule Project. The Amended AIF incorporates the executive summary from the Amended Technical Report and is thus accordingly amended; it contains no material differences from the original annual information form filed on June 8, 2021.
About American Manganese Inc.
American Manganese Inc. is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ patented process. The RecycLiCo™ patented process was developed to offer a closed-loop and environmentally friendly solution for the recycling of cathode materials used in lithium-ion batteries. The recycling process provides high extraction and purity of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum. The RecycLiCo™ process was designed with the goal to produce recycled battery products that could be seamlessly and directly integrated into the re-manufacturing of battery cathodes using minimal processing steps.
For more information, please contact:
Larry W. Reaugh
President and Chief Executive Officer
Telephone: 778 574 4444
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. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
SOURCE: American Manganese Inc.
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Erin Ventures Announces Proposed Private Placement
VICTORIA, BC / ACCESSWIRE / September 17, 2021 / Erin Ventures Inc. ("Erin" or the "Company") (TSXV:EV) announces that, subject to the approval of the…
VICTORIA, BC / ACCESSWIRE / September 17, 2021 / Erin Ventures Inc. ("Erin" or the "Company") (TSXV:EV) announces that, subject to the approval of the TSX Venture Exchange (the "TSXV"), it intends to complete a private placement offering of up to 6,666,667 units of the Company ("Units") at a price of $0.075 per Unit for gross proceeds of approximately $500,000 (the "Offering").
Each Unit in this Offering will be comprised of one (1) common share in the capital of the Company (a "Share") and one (1) common share purchase warrant (each, a "Warrant"). Each Warrant will have a two (2) year term and will be exercisable into one (1) Share at a price of $0.10.
The Warrants also have an acceleration clause whereby if the Common Shares trade on the TSXV at a price equal or greater than the designated trigger price of $0.15 for more than ten (10) consecutive trading days during the Exercise Period, Erin shall have the right to give written notice to the holder requiring the holder to exercise the Warrant, in whole or in part, within a period of thirty (30) days from the date of receipt of notice from Erin.
The Common Shares and Warrants comprising the Units will be subject to a four-month and one day hold period in accordance with the policies of the TSXV and applicable securities legislation. The Private Placement remains subject to the approval of the TSXV.
The net proceeds from this financing will be used to fund further development of its wholly owned Piskanja boron project in Serbia, and for working capital purposes.
On behalf of the Board of Directors,
Blake Fallis, General Manager
About Erin Ventures
Erin Ventures Inc. is an international mineral exploration and development company with boron assets in Serbia. Headquartered in Victoria, B.C., Canada, Erin's shares are traded on the TSX Venture Exchange under the symbol "EV" and the OTCQB Venture Market under the symbol "ERVFF". For detailed information please see Erin's website at www.erinventures.com or the Company's filed documents at www.sedar.com.
Erin's Public Quotations
TSX Venture: EV
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 release contains forward looking statements. The words "believe," "expect," "feel," "plan," "anticipate," "project," "could," "should" and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties including, without limitation, variations in estimated costs, the failure to discover or recover economic grades of minerals, and the inability to raise the funds necessary, changes in external market factors including commodity prices, and other risks and uncertainties. Actual results could differ materially from the results referred to in the forward-looking statements.
SOURCE: Erin Ventures Inc.
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