Vancouver, British Columbia TheNewswire - August 09, 2022 Arizona Silver Exploration Inc. (TSXV: AZS ) ( OTC:AZASF ) announces drill results from two core holes, PC22-93 and PC22-92T from the Philadelphia gold project, Mohave County, Arizona. Core hole PC22-93 was drilled 350 metres north of the northernmost core holes completed earlier in the program. This hole successfully extends the strike length of the mineral system drilled to date to +750 meters, with gaps in the drill pattern to be drilled as the next priority. Core Hole PC22-92T was intended to be a twin of reverse circulation hole PRC21-85 for quality control purposes. Unfortunately, it intersected a significant fault zone and suffered poor recoveries as a result. It also deviated from the intended azimuth by 20 degrees and therefore was not a valid twin.
Core hole PC22-93 was drilled north of Arizona Silver's previously announced core holes. It tested below a prominent ridge on the Rising Fawn claim that had caught the attention of Meridian Gold in 1982. They drilled 14 shallow RC holes on the top of the ridge to test abundant gold-bearing quartz veins mostly in granite. As drill logs or geology are not available from that program, PC22-93 was drilled below the Meridian holes to provide a geological framework for our program. The hole successfully intersected good quartz vein mineralization in the upper portion of the hole.
The interval 27.84 to 46.01 metres (18.17 metres) averaged 1.20 grams per tonne (gpt) gold and 13.31 gpt silver within a broader interval, 27.84 to 67.99 metres (40.15 metres) that averaged 0.78 gpt Au and 8.79 gpt Ag, in both rhyolite dike and footwall altered granite. The gold-silver mineralization was terminated by a clay rich fault zone. Below the fault was barren propylitic granite. A single hole does not provide a handle on the orientation of this fault. Additional drilling is planned to test the quartz vein mineralization along strike both above and below the fault to expand the strike and dip of mineralization and to determine the geometry of the fault plane as a guide to deeper drilling.
Core Hole PC22-92T
Core hole PC-22-92T was intended to be a twin of RC hole PRC21-85 which intersected 115.85 metres of 1.34 grams per tonne (gpt) Au and 5.79 gpt Ag. Core hole PC22-92T was set up about one metre away from the collar of RC hole -85 but deviated by about 20 degrees off azimuth to terminate about ten metres from the bottom of RC hole-85.
Core hole PC22-92T intersected a zone of mineralization from 119.51-154.57 metres (35.05 metres) averaging 0.85 gpt gold and 5.27 gpt silver, including an upper vein intercept of 5.32 gpt gold and 13.7 gpt silver from 121.04-122.1 metres, all within a very broad zone from 50.91-188.41 metres (137.5 metres) averaging 0.41 gpt gold and 2.22 gpt silver, as defined by an outer cut-off of 0.2 gpt gold.
The upper 71 metres of the intercept was in the hanging wall volcanics without any attendant quartz veining. The host lithologies in the core hole are identical to those encountered in RC hole PRC21-85 but all contacts are approximately 30 meters deeper in the core hole than in the adjacent RC hole. This provides evidence for a steep fault separating the two holes. In fact the core hole appears to have gone down a fault zone, with many intervals of crushed and broken rock and poor to no recovery. As a result, we do not consider do hole PC22-92T to be a fair "twin" of PRC21-85.
Both drill hole intercepts are approximately true widths.
Program Going Forward (reference News Release dated June 21, 2022)
From the site of the PC-22-93 drill hole reported in this release, we plan to drill southward to the Shark Fin area towards excellent holes PC-22-86 thru PC22-91. This open extension to the Shark Fin area is expected to host both vein and stockwork mineralization over a width of 30-80 metres. Up to 26 RC drill holes (~5000 metres) have been designed to test a target area approximately 500 metres long. First pass drilling will test the area to a vertical depth of approximately 100 metres.
From the site of the PC-22-91 reported in the June 21, 2022 news release, we plan to drill to the south for a strike length of 300 metres. This Southern Gap is bounded to the south by an array of Arizona Silver drill holes, including drill hole PC-22-92T reported in this news release. This target area is scheduled for drilling when we can get a core rig back on the property.
Mr. Greg Hahn, Vice President, Exploration commented, "Core hole PC22-93 is our first drill hole north of drill hole PC22-86 through PC22-91 which all intersected good gold mineralization in the upper vein and stockwork zone beneath the upper vein. Hole PC22-93 is located 350 metres north of the previously drilled core holes beneath a hill of very prominent gold-bearing quartz veins. The results of this hole are encouraging and require us to follow up with additional drilling to flesh out the extent of the gold bearing quartz veins along the entire strike length of the hill which is about 450 meters.
"We now have gold mineralization in drill holes along 750 metres of strike length and + 200 metres of dip extension that needs to be fleshed out with additional drilling. The gold zone remains open along strike and down dip. Recent and ongoing geologic mapping and sampling north of hole PC22-93 for a distance of another 500 metres demonstrates abundant white quartz veining and stockwork mineralization on the ridge that has never been drilled. Again, this area needs to be drilled and is all on patented claims. I look forward to a resumption of drilling following the summer heat."
Geologic and assay section for the hole is posted to the web site at : https://arizonasilverexploration.com/wp-content/uploads/2022/08/SectionD_7Aug2022_Layout-PRa.pdf
All assaying was conducted by ALS Global, an independent analytical laboratory. Core was trucked to the ALS sample preparation facility in Tucson, Arizona, where the samples are inventoried, dried, crushed and pulverized. Pulverized splits are sent to the ALS analytical facility in Vancouver, British Columbia for analyses. All material handling is done under a strict chain of custody protocol. Gold is determined by fire assay with an AA finish and silver is determined by ICP-MS methods within a 31-element suite.
The Company maintains its own program of inserting Standard Reference material in the form of standards and blanks to the sampling stream, prior to being shipped to ALS's preparation facility in Tucson, Arizona, in addition to the independent QA/QC protocols of ALS Global.
Gregory Hahn, VP-Exploration, and a Certified Professional Geologist (#7122) is a Qualified Person under National Instrument 43-101 ("NI 43-101") and has reviewed and approved the technical information contained in this news release.
About Arizona Silver Exploration Inc.
Arizona Silver is a young exploration company focused on exploring gold-silver properties in western Arizona and Nevada. The flagship asset is the Philadelphia property. The company has recently received a positive Record of Decision on its Notice of Intent to drill an initial twelve exploration holes on its recently acquired Silverton gold-silver property that hosts Carlin-type targets. Drilling there will be scheduled as time and equipment allow.
Please take a moment and listen to Greg Hahn narrate our latest PowerPoint now available on the website link:
On behalf of the Board of Directors:
Mike Stark, President and CEO, Director
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 includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release include statements in relation to the timing, cost and other aspects of the 2022 exploration program; the potential for development of the mineral resources; the potential mineralization and geological merits of the exploration properties; and other future plans, objectives or expectations of the Company. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that actual results of current and planned exploration activities, including the results of the Company's 2022 drilling program(s) on its properties, will not be consistent with the Company's expectations; the geology, grade and continuity of any mineral deposits and the risk of unexpected variations in mineral resources, grade and/or recovery rates; fluctuating metals prices; possibility of accidents, equipment breakdowns and delays during exploration; exploration cost overruns or unanticipated costs and expenses; uncertainties involved in the interpretation of drilling results and geological tests; availability of capital and financing required to continue the Company's future exploration programs and preparation of geological reports and studies; delays in the preparation of geological reports and studies; the metallurgical characteristics of mineralization contained within the exploration properties are yet to be fully determined; general economic, market or business conditions; competition and loss of key employees; regulatory changes and restrictions including in relation to required permits for exploration activities (including drilling permits) and environmental liability; timeliness of government or regulatory approvals; and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, including that the Company's 2022 programs would proceed as planned and within budget. The Company expressly 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 otherwise required by applicable securities legislation .
Copyright (c) 2022 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Mining in Arizona is flourishing as the demand for metals and minerals soars. Demand for critical metals stems from the consumer electronics, military operations and renewable energy markets. As experts put it, the demand is expected to continuously grow in the 21st century.
Why is Arizona a mining hotspot? Arizona is widely known for its mining-friendly policies and high gold, silver, and copper mineralization outputs. In 2019, Arizona ranked in the top 10 jurisdictions in the world for both the investment attractiveness index and the policy perception index, according to the Fraser Institute. As a result, Arizona has ranked the number one state for exporting metal ores in the United States and has rightfully attracted the attention of major mining companies and investors alike.
Arizona Silver Explorations Inc. (TSXV:AZS,OTCQB:AZASF) is a junior mineral exploration company focused on exploring, identifying, and acquiring high-grade gold and silver in Arizona and Nevada in the United States of America. The company is led by an experienced management team CEO Mike Stark who has over 35 years of experience and worked with Exeter Resources (TSX: XRC,NYSE-MKT: XRA,Frankfurt: EXB), Extorre Gold Mines Ltd. (TSX:XG), and Canamex Gold Corp. (TSXV:CSQ,OTCQX:CNMXF,FSE:CX6).
“We have four very promising properties, we are not a one-property ownership,” said Arizona Silver Explorations CEO Mike Stark.
The company’s flagship Philadelphia project is an early-stage project in Arizona and is strategically located near multiple high-yielding gold and silver mines. Nearby mines in the region include the Moss Mine, which is approximately 6 miles away and owned by Northern Vertex Mining Corp. (TSX.VNEE), which has 4,463,000 ounces of measured and indicated gold as well as 360,000 ounces of measured and indicated silver.
The Gold Road mine owned by Aura Minerals Inc. (TSX:ORA) is 10 miles away and has historically produced 746,000 ounces of gold. In addition to its flagship project, the company has three other projects in its portfolio located in Arizona and Nevada including Ramsey Silver, Silverton Gold and Sycamore Canyon.
Since the company acquired the Philadelphia Property in February of 2019, they have successfully completed multiple drilling campaigns. The property sits on the prolific high-grade Arabian vein fault and has produced gold as high as 41.6 gold per ton (gpt) and silver as high as
97.2 gpt. The company plans to continue drilling to test the continuity of the high-grade vein based on the pending results.
Arizona Silver Exploration fully owns all of its projects. The company also has a strong share structure with 57,839,096 shares issued and outstanding, 6,011,758 warrants outstanding and 5,252,250 options outstanding for a total of 69,103,104 fully diluted shares, as of December 20, 2020. The company’s management team believes in its projects as its ownership includes 42 percent with family and friends, 24 percent with retail, 30 percent with insiders, and 4 percent with institutions.
The flagship Philadelphia property is located in Mohave County in northwestern Arizona and consists of 20 claims on the prolific high-grade Arabian vein fault. The property is readily accessible as it is less than 100 metres from paved road access. The region is home to the Oatman Mining District which has produced over 2.5 million ounces of gold from high-grade veins from underground mining. The Philadelphia property is approximately six miles from Northern Vertex’s Moss mine and 10 miles from Aura Minerals’ Gold Road mine.
The property has a mining history dating back to 1915 involving the Arabian-Philadelphia mine which produced 44,000 ounces of gold at an average grade of 0.3 to 0.79 opt. Historic silver grades in the production shaft averaged 420 gpt of silver. Arizona Silver Exploration’s October 2019 core drill program produced gold as high as 41.6 gpt and silver as high as 97.2 gpt. The September 2020 core drill program showed 33.56 gpt of gold and 54.7 gpt of silver over 2.35 metres, within a thicker interval of 10.76 metres containing 9.26 gpt of gold, 79.8 gpt of silver, and 344 gpt of beryllium beginning at a depth of 27.96 metres.
In November 2020, Arizona Silver Exploration Inc. announced that it bought out the existing 1 percent NSR on the property. The property is now fully owned and is free of all financial obligations. Currently, there is 1.5 km of strike untested to the north and 2 km of strike untested to the south. The company reported additional drill results of 3.7 ft. grading 6.79 gpt gold and 258 gpt silverfrom after completing its core drilling in April 2021.
Silverton Gold is a Carlin-type gold exploration project located in Nye County in Nevada and consists of 77 unpatented lode mining claims on the 1540 acre property. The project is 100 km from the old Silverton Mine property which is northeast of Tonopah in Nevada. The property has brecciated and silicified dolomitic limestone and faults. The company believes the dolomite breccias identified on the property are the primary exploration opportunity which is structurally similar to the gold-rich zones at the Long Canyon gold deposit which has reserves and resources of 3.19 million ounces of gold including measured, probable, and inferred.
The property has had intermittent exploration since the early 1980s with a large gold anomaly identified that contains greater than 100 ppb of gold. In 1988, a few holes were drilled peripheral to the gold anomalies in brecciated dolomites and intersected 40 to 100 feet carrying 300 to 1000 ppb of gold in almost every hole. As such, the company expects that mineralization will be even higher at the heart of the gold mineral system. Past drill results on the property also contained 1 to 16 grams of gold.
The company fully owns the property after previously entering into a lease with the option to purchase an agreement. Arizona Silver Exploration will be doing exploration work in the summer of 2021 pending permits.
The Ramsey Silver project is located two hours west of Phoenix in Arizona. The property’s geology consists of black calcite plus quartz veins in overlying rhyolite at an upward leakage with Ag-Pb-Zn-Ba geochemical signature. Exposure of geology underground found a high-grade vein with open stope and low-grade silver in volcanic breccia.
The property has seen historic production of 1370 gpt of gold and samples of high grade silver at 924.6 gpt. It is also home to 41 existing underground drill holes from the 1960s. Intercepts on the property show up 304 gpt of gold at up to 46 metres. Drill results from 18 holes on the Ramsey mine target completed by Arizona Silver to date show average gold mineralization at 31.5 gpt. The drill results also include a thick zone of disseminated silver and lead and zinc presence of up to 1 percent combined. Silver mineralization is open-pittable at depth. There is a large untested adjacent geophysical anomaly.
The property is fully owned with royalty buy-outs. The upcoming drill program on the property is scheduled to happen later this year when temperatures resume to safe operating levels for the crew. The company believes there is an upside potential for a large deposit size on the property.
The Sycamore Canyon property is located 20 miles northeast of the town of Willcox in southern Graham County in Arizona and consists of 10 unpatented lode mining claims on US Forest Service administered public lands. The property is accessible through gravel roads west of a paved divided highway with two large power lines. Sycamore Canyon contains a prominent silicified breccia body that occurs primarily within Precambrian granite as well as several smaller parallel banded silica veins.
Sampling backed by certified assay certificates from reputable laboratories throughout the silicified breccia demonstrates values up to 31 gpt of gold and 458 gpt of silver. From 42 samples collected from within the silicified breccias, values up to 15.45 gpt of gold and 396 gpt of silver was collected with average values at 0.893 gpt of gold and 82 gpt of silver. Historic samples from prospect pits not on the main breccia zone contained up to 50 percent of lead and 74 opt of gold. The property also has strong vlf-em anomaly across the main breccia identified after the 2018 exploration plan.
Arizona Silver Exploration fully owns the Sycamore Canyon project after previously entering into a lease with the option to purchase. The company has completed staking of an additional 28 unpatented lode mining claims surrounding the core group of leased claims to protect possible extensions of the silicified breccia and future development sites in the surrounding area. The area has yet to be tested with a drill hole but the company plans to begin an initial eight-hole drilling program, with two holes to test the gold-silver bearing silicified breccia on four initial sections pending a permit.
Mike Stark has over 35 years of business experience in the private sector as an owner and operator of two successful companies and 29 years in the public sector. Stark’s background includes corporate financing, investor relations, market support and corporate strategic development. Companies he has worked with in the past includes Exeter Resources and Extorre Resources.
Greg Hahn has over 35 years of experience in exploration and mine development. Hahn has held senior level management positions with several public mining companies. Hahn has taken projects from mine development to financing and through to production, including permitting, engineering, construction and operations.
Dong H. Shim is a member of the Chartered Professional Accountants of British Columbia and a Certified Public Accountant registered in the State of Illinois, United States. Shim has served as an audit partner on numerous audit engagements with a mid-size firm located in Vancouver, British Columbia, where he audited various publicly traded companies, primarily focusing on junior mining, oil and gas, pharmaceutical and high-tech industries. As an audit partner, Shim also assisted various start-up companies in achieving public listings on the TSX Venture Exchange, Canadian Securities Exchange and the OTC Market.
Shim is currently the President of Golden Tree Capital Corp. and SHIM Accounting Corporation with a primary focus on business advisory, corporate consulting and regulatory filings both in the United States and Canada. In addition, Shim teaches accounting as an instructor at a local college in Vancouver and acts as a facilitator at CPA Western School of Business where he mentors CPA candidates enrolled in the CPA Professional Education Program.
Eugene Spiering is an exploration geologist with over 30 years of international experience in mineral exploration and senior level project management in the Western United States, South America and Europe. As VP Exploration, he participated in the discovery and development of the El Valle and Carles gold mines, and the Aguablanca nickel mine in Spain, along with the discovery of 2 new uranium mineralized breccia pipes in Arizona. He was also responsible for the exploration and definition of two porphyry copper deposits near Yerington, Nevada.
Spiering is a consulting geologist and a Qualified Person (QP) as defined in the National Instrument 42-101. He is a registered member of the Society of Mining, Metallurgy, & Exploration (SME #4164070RM), a fellow member of Australasian Institute of Mining and Metallurgy (FAusIMM #222207) and served as SME 2015-2016 Henry Krumb Guest Lecturer. Spiering is on the Board of Southern Silver Exploration Corp, and acts as Chairman of the audit committee of (“SSV” on the TSX-V), a silver development project in Mexico.
David Vincent’s background includes consulting and investment banking, corporate advisory, corporate public relations and capital raising services within the resources sector. Vincent was a senior executive with BAE Systems, a global aerospace company, where he gained significant skills and experience in international business development, feasibility studies, market analysis, business planning, project financing, project management and marketing within the United Kingdom, the Middle East and Europe.
He is a professional engineer and commercial pilot with post graduate academic qualifications in management and financial services. Vincent was a senior commissioned officer (engineer and pilot) in the Royal Australian Air Force. He has worked throughout Europe, the Middle East, Africa and Asia for the last 20 years. He holds a Bachelor of Engineering with Distinction from RMIT, a Diploma in Administrative Studies, an Advanced Diploma in Aviation Studies and a Diploma in Financial Planning from Deakin University in Australia.
Brady Stiles is an independent investor with a diverse entrepreneurial background. As co-Founder and CEO, he operated a US federal contracting corporation. During the Deep Horizon oil spill, he co-designed and developed a US patented oil spill containment and recovery system. Stiles served as a designer, crew chief and co-pilot for multiple General Motors Motorsport programs. His 20 years of real-estate experience includes land development and timberland management.
Yale Simpson has a Bachelor of Applied Science in Geological Engineering from the University of British Columbia in Canada and is a professional geologist. Simpson has more than 30 years of experience as a senior geologist, exploration manager and CEO of companies involved in precious metals projects in Australia, Africa, Eastern Europe and South America. Those companies included Pennzoil Company, Chevron Exploration, Australmin Holdings, Argosy Gold Mines and Black Swan Gold Mines Ltd.
He was co-chairman of Extorre Gold Mines Ltd., a successful spinout from Exeter, which was bought by Yamana Gold Ltd. in 2012 and was co-chairman of Exeter until it was purchased by Goldcorp Inc. in 2017. His particular expertise is in strategic resource planning, financing and corporate communications. In addition to Adamera Minerals Corp., Simpson is currently a director of Rugby Mining Limited.
Vancouver, British Columbia TheNewswire - August 1 8 2022 Arizona Silver Exploration Inc. (TSXV:AZS) (OTC:AZASF) is pleased to announce the results of the Company's annual general meeting held in Vancouver, B.C. on August 16, 2022 (the " AGM ").
The shareholders approved, by a minimum 98.7% requisite majority, all motions put forth at the AGM, including the re-election of the four directors, appointment of Smythe LLP as auditors of the Company and the approval of the Amended and Restated Stock Option Plan. A total of 25,464,424 common shares of the Company's issued and outstanding shares were represented in person or by proxy at the AGM.
Mr. David Vincent did not stand for re-election at the AGM. " On behalf of the Board of Directors and management, we wish to express our gratitude to David for his invaluable contribution and service he provided to the Company as a Board member and a member of the Audit Committee." stated Mike Stark, President and CEO of the Company . "We wish him the best with his future endeavors. David will remain with the Company as a consultant."
Following the AGM, the Board of Directors re-appointed Mike Stark as Chairman, President and CEO, Gregory Hahn as Vice-President, Exploration and Dong H. Shim as CFO and Corporate Secretary.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX) have approved this release.
On behalf of the Board of Directors:
Mike Stark, CEO, President Phone: (604) 833-4278
Copyright (c) 2022 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Vancouver, British Columbia TheNewswire - June 21 2022 Arizona Silver Exploration Inc. (TSXV: AZS ) ( OTC:AZASF ) is pleased to announce that drilling at the Philadelphia gold project, Mohave County, Arizona has again extended the dip extent of broad stockwork and high grade vein gold-silver mineralization. Assays have been returned for hole PC22-91 with assays for two holes awaited.
Core Hole PC-22-91 (Terminated in Mineralization)
Core hole PC-22-91 was a deep test of the Philadelphia vein system, drilling down dip of the high-grade vein encountered in core holes PC-22-86, PC-22-87, PC22-88, and in reverse circulation (RC) holes PRC21-81, PRC21-82, and PRC21-83. The hole successfully intersected the vein 60 metres down dip of PC-22-88.
Drilling has now defined high-grade mineralization over a dip length of +200 metres with the system open at depth. Furthermore, in PC-22-91 the lower grade (mostly footwall stockwork mineralization) extends over a thickness of 78.7 metres, from slightly above the high-grade vein to the bottom of the hole. The grades and vein breccia textures were improving towards the bottom when the hole was lost at 252.1 metres due to unstable ground conditions. The hole had been designed to potentially continue in mineralization for a further 22 metres.
Details of the uncut drill length intercepts follow:
High grade vein interval : 176.59-178.96 metres, 2.38m, 6.71 gpt gold, 22.6 gpt silver
Total Mineralized Zone : 173.5-252.1 metres (end of hole): 78.7 m, 0.964 gpt gold, 9.20 gpt silver.
Mr. Greg Hahn, Vice President, Exploration commented, " On the drill section containing hole PC-22-91 the vein continues uninterrupted for +200 metres down dip. However, based on vein textures, clay mineralogy, and geochemistry we believe we are still above the heart of the boiling zone of the system where the highest grades would be anticipated. In due course deeper drilling is a high priority.
"We have drilled the vein and the adjacent lower grade stockwork mineralization from two drill pads located 300 metres apart with complete success. All holes on these sections intersected gold-silver mineralization as predicted. One of the two un-assayed drill holes (PC-22-92T) is an important confirmation of earlier RC drill holes that intersected +100 metres of mineralization. The second awaited hole (PC-22-93), is located 350 metres to the north of PC-22-91 and intersected good stockwork quartz mineralization. I look forward to drilling this northern extension of mineralization."
Updated geologic sections and photos of core from the completed holes are posted to the web site at: https://arizonasilverexploration.com/philadelphia/ .
From the site of the deep drill hole reported in this release we have no drilling data northward but for recently completed hole PC-22-93 referenced above, other than an area of historic drilling. Click here for historic Meridian drill results. This open extension has both vein and stockwork mineralization over a width of 30-80. metres. Up to 26 RC drill holes (~5000 metres) have been designed to test a target area approximately 500 metres long north of drilling completed recently to a vertical depth of approximately 100 metres.
From the deep drill hole reported in this release we have no drilling to the south for a strike length of 300 metres. This southern gap is bounded to the south by an array of drill holes, including the confirmation drill hole PC-22-92T (results awaited ) mentioned above. Given that RC drilling on the northern gap is considerably more cost effective to perform than than the diamond drilling necessary for the southern gap, the RC program will be scheduled first. Rig availability is anticipated in the Fall.
In the meantime, we will compile the results of historic drilling north of the northern gap . That drilling returned potentially economic grade widths of stockwork mineralization in the vicinity of historic mining. Results will be reported.
All assaying was conducted by ALS Global, an independent analytical laboratory. Core was trucked to the ALS sample preparation facility in Tucson, Arizona, where the samples are inventoried, dried, crushed and pulverized. Pulverized splits are sent to the ALS analytical facility in Vancouver, British Columbia for analyses. All material handling is done under a strict chain of custody protocol. Gold is determined by fire assay with an AA finish and silver is determined by ICP-MS methods within a 31-element suite.
The Company maintains its own program of inserting Standard Reference material in the form of standards and blanks to the sampling stream, prior to being shipped to ALS's preparation facility in Tucson, Arizona, in addition to the independent QA/QC protocols of ALS Global.
Gregory Hahn, VP-Exploration and a Certified Professional Geologist (#7122) is a Qualified Person under National Instrument 43-101 ("NI 43-101") and has reviewed and approved the technical information contained in this news release.
About Arizona Silver Exploration Inc.
Arizona Silver is a young exploration company focused on exploring gold-silver properties in western Arizona and Nevada. The flagship asset is the Philadelphia property. The company has recently received a positive Record of Decision on its Notice of Intent to drill an initial twelve exploration holes on its recently acquired Silverton gold-silver property that hosts Carlin-type targets. Drilling there will be scheduled as time and equipment allow.
Please take a moment and listen to Greg Hahn narrate our latest PowerPoint now available on the website link: and visit our website at: www.arizonasilverexploration.com
On behalf of the Board of Directors:
Mike Stark, President and CEO, Director
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 includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release include statements in relation to the timing, cost and other aspects of the 2022 exploration program; the potential for development of the mineral resources; the potential mineralization and geological merits of the exploration properties; and other future plans, objectives or expectations of the Company. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that actual results of current and planned exploration activities, including the results of the Company's 2022 drilling program(s) on its properties, will not be consistent with the Company's expectations; the geology, grade and continuity of any mineral deposits and the risk of unexpected variations in mineral resources, grade and/or recovery rates; fluctuating metals prices; possibility of accidents, equipment breakdowns and delays during exploration; exploration cost overruns or unanticipated costs and expenses; uncertainties involved in the interpretation of drilling results and geological tests; availability of capital and financing required to continue the Company's future exploration programs and preparation of geological reports and studies; delays in the preparation of geological reports and studies; the metallurgical characteristics of mineralization contained within the exploration properties are yet to be fully determined; general economic, market or business conditions; competition and loss of key employees; regulatory changes and restrictions including in relation to required permits for exploration activities (including drilling permits) and environmental liability; timeliness of government or regulatory approvals; and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, including that the Company's 2022 programs would proceed as planned and within budget. The Company expressly 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 otherwise required by applicable securities legislation .
Copyright (c) 2022 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Vancouver, British Columbia TheNewswire - May 25, 2022 Arizona Silver Exploration Inc. (TSXV: AZS ) ( OTC:AZASF ) is pleased to announce that drilling at the Philadelphia project, Mohave County, Arizona has extended the strike of high grade gold-silver mineralization. Assays have been returned for two holes with two further holes in the assay laboratory. Drilling is continuing.
Holes PC22-89 and PC22-90 (beneath the "shark fin")
These holes extend recently drilled high grade mineralization to the north under the "shark fin", a weakly mineralized breccia. The two holes intersected the target as predicted, confirming the "boiling zone" model that guides our exploration. A high-grade vein was intersected 45 metres down-dip from the outcrop, with the deeper of the two drill holes yielding the best thickness and grade as anticipated.
High grade (hanging wall) vein: 93.84 to 96.10 metres downhole depth (2.26m) at 11.81 gpt gold, 39.31 gpt silver, within
High Grade Vein Interval: 91.68 to 99.70 metres (8.02m) at 7.50 gpt gold, 29.07 gpt silver, within
Total Mineralized Zone: 82.41 to 113.41 metres (31.01m) at 2.38 gpt gold, 10.58 gpt silver
High Grade HW Vein : 72.59 to 73.54 metres (0.95m) at 11.20 gpt gold, 27.88 gpt silver, within
Total Mineralized Zone: 60.67 to 81.71 metres (21.04m), 0.97gpt gold, 1.33 gpt silver
Mr. Greg Hahn, Vice President, Exploration commented, " All of the assayed holes in this program have intersected potentially economic grade mineralization. The two new holes demonstrate how quickly the epithermal vein system changes with depth from no vein at the "shark fin", to a narrow vein 45 metres below the outcrop (PC22-89), to a thick vein interval 35 metres deeper (PC22-90). The vein continues to depth, with intercepts in holes PC22-88 and PC22-91 (with assays outstanding)."
"We followed these holes with PC22-91, a deep test below this mineralization. The rig then moved 300 metres to the south to drill PC22-92, a core drill twin of a previous reverse circulation drill hole. That hole has been completed with the drill rig now sited on PC22-93, 350 metres north of the "shark fin." Assays are awaited," continued Greg Hahn.
Updated geologic sections and photos of core from the completed holes are posted to the web site at: https://arizonasilverexploration.com/philadelphia/ .
Geologically, holes PC22-89 and PC22-90 tested the "shark fin," a calcite cemented breccia that contains clasts of quartz vein material and altered Tr2 rhyolite . They were drilled from the same drill pad as the previous core holes but on a new azimuth of 325 degrees instead of 270 degrees. See Section 1.
Hole PC-91 tested down-dip of the holes reported here but was lost at 266 metres in mineralization. The zone started at 173 metres with abundant stockwork quartz in Tr2 breccia and quartz vein clasts, followed by the lower vein breccia. The drill rods became interminably stuck at 266 metres in the lower vein breccia resulting in the hole being abandoned. We plan to re-drill the hole at a later date from a different pad to complete the intercept in the footwall vein and to intersect the Arabian Fault.
The drill rig was moved to our southern access area located 300 meters to the south of the Section 1 holes reported above. The intervening 300 metre strike is undrilled to date pending road construction. A core hole, PC22-92 was drilled parallel to RC hole PRC21-85, which intersected 115.9 metres of 1.34 gpt gold and 5.78 gpt silver, our thickest drill intercept to date. The core twin is intended to provide a comparison of RC drilling results to core results where groundwater flow is present.
Lithologies compared quite favourably between the two drill holes. The presence of quartz in the footwall granite is readily explainable by a unique bi-lithic breccia consisting of quartz vein clasts and granite clasts below the stockwork quartz in Tr2 rhyolite, and by the continuation of stockwork quartz in the granite below the bi-lithic breccia. Both holes PC22-91 and PC22-92 are in the laboratory.
The drill is currently on hole PC22-93, located 350 meters north of the holes reported in this press release, drilling beneath a prominent hill of stockwork quartz in granite. The hole is currently down 54 metres, having intersected brecciated stockwork quartz in the Arabian Fault and in the footwall granite beginning at 27 metres depth. The hole is targeted for 180 metres, to test the full extent of the stockwork quartz system exposed on the hill.
There are no drill holes testing the 350 metre-strike length between this hole and the two holes reported in this release. Meridian Gold drilled the upper 30 metres of the hill in the early 1980s with good results, but they failed to test the down-dip potential due to right-of-way limitations at the time. Those issues were eliminated in the late 1990's when the highway was relocated.
All assaying was conducted by ALS Global, an independent analytical laboratory. Core was trucked to the ALS sample preparation facility in Tucson, Arizona, where the samples are inventoried, dried, crushed and pulverized. Pulverized splits are sent to the ALS analytical facility in Vancouver, British Columbia for analyses. All material handling is done under a strict chain of custody protocol. Gold is determined by fire assay with an AA finish and silver is determined by ICP-MS methods within a 31-element suite.
The Company maintains its own program of inserting Standard Reference material in the form of standards and blanks to the sampling stream, prior to being shipped to ALS's preparation facility in Tucson, Arizona, in addition to the independent QA/QC protocols of ALS Global.
Gregory Hahn, VP-Exploration and a Certified Professional Geologist (#7122) is a Qualified Person under National Instrument 43-101 ("NI 43-101") and has reviewed and approved the technical information contained in this news release.
About Arizona Silver Exploration Inc.
Arizona Silver is a young exploration company focused on exploring gold-silver properties in western Arizona and Nevada. The flagship asset is the Philadelphia property. The company has recently received a positive Record of Decision on its Notice of Intent to drill an initial twelve exploration holes on its recently acquired Silverton gold-silver property that hosts Carlin-type targets. Drilling there will be scheduled as time and equipment allow.
Please take a moment and listen to Greg Hahn narrate our latest PowerPoint now available on the website link: and visit our website at: www.arizonasilverexploration.com
On behalf of the Board of Directors:
Mike Stark, President and CEO, Director
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 includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release include statements in relation to the timing, cost and other aspects of the 2022 exploration program; the potential for development of the mineral resources; the potential mineralization and geological merits of the exploration properties; and other future plans, objectives or expectations of the Company. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that actual results of current and planned exploration activities, including the results of the Company's 2022 drilling program(s) on its properties, will not be consistent with the Company's expectations; the geology, grade and continuity of any mineral deposits and the risk of unexpected variations in mineral resources, grade and/or recovery rates; fluctuating metals prices; possibility of accidents, equipment breakdowns and delays during exploration; exploration cost overruns or unanticipated costs and expenses; uncertainties involved in the interpretation of drilling results and geological tests; availability of capital and financing required to continue the Company's future exploration programs and preparation of geological reports and studies; delays in the preparation of geological reports and studies; the metallurgical characteristics of mineralization contained within the exploration properties are yet to be fully determined; general economic, market or business conditions; competition and loss of key employees; regulatory changes and restrictions including in relation to required permits for exploration activities (including drilling permits) and environmental liability; timeliness of government or regulatory approvals; and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, including that the Company's 2022 programs would proceed as planned and within budget. The Company expressly 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 otherwise required by applicable securities legislation.
Copyright (c) 2022 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Vancouver, British Columbia TheNewswire - April 26 2022 Arizona Silver Exploration Inc. (TSXV: AZS ) ( OTC:AZASF ) announces that the US Forest Service has issued a positive Decision Memo, with stipulated mitigation measures required, approving the initiation of exploration drilling on the Sycamore Canyon gold-silver project located in Cochise County, Arizona.
A positive Decision Memo, with stipulations and required mitigation measures, was received in response to the initial Plan of Operations submitted in May 2018 to proceed with initial exploration drilling of the Sycamore Canyon gold-silver project in Cochise County, Arizona. An initial Plan of Operations was submitted in May 2018 and finalized in November 2018. Public comment was sought in late 2018 and early 2019, but the COVID pandemic and administrative issues caused the permitting of the project to be delayed until respective parties could be available to make their contributions to the NEPA (National Environmental Policy Act) permitting process.
no activity during the golden eagle breeding season (January through July), or non-breeding or non-occupancy within one mile of the drill site must be confirmed,
Avoid removal or damage to agave and yucca plants during road and pad construction and use, and salvage and re-planting of any disturbed plants,
reclamation immediately upon completion of the proposed drilling activity, among others.
The Company will engage an environmental consulting firm to incorporate these mitigation measures into a final Plan of Operations and a reclamation cost estimate for final submission to the US Forest Service for their consideration in issuing a final Record of Decision.
Meanwhile the Company will entertain joint venture proposals to advance the Sycamore Canyon project through this initial drilling program and beyond. Since submitting the initial Plan of Operations in 2018 the Company has made what it believes is a significant mineral discovery at its Philadelphia project in Mohave County, Arizona, and is electing to focus its resources on advancing the exploration drilling of that project.
Gregory Hahn, VP-Exploration and a Certified Professional Geologist (#7122) is a Qualified Person under National Instrument 43-101 ("NI 43-101") and has reviewed and approved the technical information contained in this news release. https://arizonasilverexploration.com/sycamore/
About Arizona Silver Exploration Inc.
Arizona Silver is a young exploration company focused on exploring gold-silver properties in western Arizona and Nevada. The flagship asset is the Philadelphia property. In addition to the Philadelphia project, the Company recently received a positive Record of Decision on its Notice of Intent to drill an initial twelve exploration holes for Carlin-type targets on its recently acquired Silverton gold-silver property. Drilling there will be scheduled as time and equipment allow.
On behalf of the Board of Directors:
Mike Stark, President and CEO, Director
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 includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release include statements in relation to the timing, cost and other aspects of the 2022 exploration program; the potential for development of the mineral resources; the potential mineralization and geological merits of the exploration properties; and other future plans, objectives or expectations of the Company. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that actual results of current and planned exploration activities, including the results of the Company's 2022 drilling program(s) on its properties, will not be consistent with the Company's expectations; the geology, grade and continuity of any mineral deposits and the risk of unexpected variations in mineral resources, grade and/or recovery rates; fluctuating metals prices; possibility of accidents, equipment breakdowns and delays during exploration; exploration cost overruns or unanticipated costs and expenses; uncertainties involved in the interpretation of drilling results and geological tests; availability of capital and financing required to continue the Company's future exploration programs and preparation of geological reports and studies; delays in the preparation of geological reports and studies; the metallurgical characteristics of mineralization contained within the exploration properties are yet to be fully determined; general economic, market or business conditions; competition and loss of key employees; regulatory changes and restrictions including in relation to required permits for exploration activities (including drilling permits) and environmental liability; timeliness of government or regulatory approvals; and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, including that the Company's 2022 programs would proceed as planned and within budget. The Company expressly 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 otherwise required by applicable securities legislation.
Copyright (c) 2022 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Vancouver, British Columbia TheNewswire - April 19, 2022 Arizona Silver Exploration Inc. (TSXV: AZS ) ( OTC:AZASF ) is pleased to announce assay results from the first three core holes at the Philadelphia project, Mohave County, Arizona. As anticipated, all three holes intersected high grades similar to the shallower reverse circulation drill holes. Three additional holes are in process in the assay laboratory. The drill will now move 300 metres along strike to the south.
Section 1 - Holes PC22-86 through PC22-88 and PC22-91
Results demonstrate the continuation of the high-grade upper ("hanging wall") vein down-dip from the previously reported reverse circulation (RC) drill holes. Similarly the stockwork mineralization below (footwall) to the HW vein continues. Results are reported below.
High grade HW vein: 32.90 gpt gold, 97 gpt silver from 85.73-86.71 metres (0.98 m), within
High Grade Interval: 10.81 gpt gold, 41.41 gpt silver from 82.32-86.71 metres (4.39 m), within
Total Mineralized Zone: 1.31 gpt gold, 7.29 gpt silver from 68.29-118.29 metres (50.0m)
High Grade HW Vein: 16.25 gpt gold, 66.6 gpt silver from 99.39-100.37 metres (0.98 m), within
High Grade Interval: 6.02 gpt gold, 28.2 gpt silver from 96.49-100.37 metres (3.87 m), within
Total Mineralized Zone: 1.01 gpt gold, 6.5 gpt silver from 92.35-133.23 metres (40.9 m)
High Grade HW vein: 17.35 gpt gold, 46.6 gpt silver from 120.64-121.37 metres, (0.73 m), within
High Grade Interval: 8.7 gpt gold, 21.46 gpt silver from 119.36-121.37 metres (2.01 m), within
Total Mineralized Zone: 1.14 gpt gold, 4.97 gpt silver from 113.11-161.61 metres (48.5 m)
Assays are pending. Hole PC22-91 was drilled from the same pad as the holes reported above to test the down-dip continuation of the mineralization encountered in PC22-88. The hole was drilled after the two holes were completed on the Shark Fin target.
Mr. Greg Hahn, VP Exploration commented, " We drilled these holes to confirm grades from previous, shallower RC drill holes and to determine the continuity of mineralization to depth. We certainly accomplished that. Effectively we have doubled the down dip extent, with another unassayed hole (PC22-91) down dip from these holes being visually impressive. In that hole t he HW vein was intercepted where anticipated. In addition, an impressive and extensive zone of stockwork mineralization with some visible gold is present. The stockwork mineralization extends down to the total depth of the hole".
"I have included the HW vein in our calculation of the Total Mineralized Zone for each hole. I did this because of the vein's consistency and the fact that there is 40 to 50 metres of low-grade mineralization below it. It is far too early to talk about mining, however I have little doubt that the Philadelphia project has the signature of a bulk tonnage, open pitable target rather than merely a narrow vein underground mining scenario. This is supported by the+100 metre thick zone of mineralization we discovered to the south which will be drilled next", added Greg Hahn.
Please take a moment and listen to Greg Hahn narrate our latest PowerPoint now available on the website link: and visit our website at: www.arizonasilverexploration.com
Section 2 - The Shark Fin – Holes PC22-89 and PC22-90
Holes PC22-89 and PC22-90 tested the "Shark Fin", a prominent outcrop of calcite cemented breccia that contains clasts of quartz vein material and altered Tr2 rhyolite . They were drilled from the same drill pad as the three core holes on Section 1 but on an oblique azimuth of 325 degrees, instead of 270 degrees. Assays are awaited. See News Release dated March 15, 2022.
The drill rig will move to the southern area located 300 meters to the south of Section 1 reported above. There we will drill a fence of core holes as we did on Section 1, and parallel to RC hole PRC21-85, which intersected 115.9 metres of 1.34 gpt gold and 5.78 gpt silver, our thickest drill intercept reported to date. One of the core holes will be a twin of PRC21-85 to provide a comparison of RC drilling results to core results where groundwater flow is present.
Updated geologic sections and photos of core from the completed holes are posted to the web site at: https://arizonasilverexploration.com/philadelphia/ .
All assaying was conducted by ALS Global, an independent analytical laboratory. Core was trucked to the ALS sample preparation facility in Tucson, Arizona, where the core is inventoried, photographed, sawed and, dried, crushed and pulverized. Pulverized splits are sent to the ALS analytical facility in Vancouver, British Columbia for analyses. All material handling is done under a strict chain of custody protocol. Gold is determined by fire assay with an AA finish and silver is determined by ICP-MS methods within a 31-element suite.
The Company maintains its own program of inserting Standard Reference material in the form of standards and blanks to the sampling stream, prior to being shipped to ALS's preparation facility in Tucson, Arizona, in addition to the independent QA/QC protocols of ALS Global.
Gregory Hahn, VP-Exploration and a Certified Professional Geologist (#7122) is a Qualified Person under National Instrument 43-101 ("NI 43-101") and has reviewed and approved the technical information contained in this news release.
About Arizona Silver Exploration Inc.
Arizona Silver is a young exploration company focused on exploring gold-silver properties in western Arizona and Nevada. The flagship asset is the Philadelphia property. In addition to the Philadelphia project, the Company recently received a positive Record of Decision on its Notice of Intent to drill an initial twelve exploration holes for Carlin-type targets on its recently acquired Silverton gold-silver property. Drilling there will be scheduled as time and equipment allow.
On behalf of the Board of Directors:
Mike Stark, President and CEO, Director
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 includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release include statements in relation to the timing, cost and other aspects of the 2022 exploration program; the potential for development of the mineral resources; the potential mineralization and geological merits of the exploration properties; and other future plans, objectives or expectations of the Company. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that actual results of current and planned exploration activities, including the results of the Company's 2022 drilling program(s) on its properties, will not be consistent with the Company's expectations; the geology, grade and continuity of any mineral deposits and the risk of unexpected variations in mineral resources, grade and/or recovery rates; fluctuating metals prices; possibility of accidents, equipment breakdowns and delays during exploration; exploration cost overruns or unanticipated costs and expenses; uncertainties involved in the interpretation of drilling results and geological tests; availability of capital and financing required to continue the Company's future exploration programs and preparation of geological reports and studies; delays in the preparation of geological reports and studies; the metallurgical characteristics of mineralization contained within the exploration properties are yet to be fully determined; general economic, market or business conditions; competition and loss of key employees; regulatory changes and restrictions including in relation to required permits for exploration activities (including drilling permits) and environmental liability; timeliness of government or regulatory approvals; and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, including that the Company's 2022 programs would proceed as planned and within budget. The Company expressly 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 otherwise required by applicable securities legislation.
Copyright (c) 2022 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
GCM Mining Corp. (GCM Mining) (TSX: GCM; OTCQX: TPRFF) and Aris Gold Corporation (Aris Gold) (TSX: ARIS; OTCQX: ALLXF) announce they have filed the joint management information circular and related meeting materials in connection with their respective special meetings of shareholders to be held on September 19, 2022. The purpose of the meetings is to approve the proposed business combination of GCM Mining and Aris Gold announced on July 25, 2022. The combined entity will continue under the name Aris Mining Corporation and will be a gold producer with increased scale, increased diversification of operating and project development risk, have an improved capital markets profile, and reduced overhead costs.
Pursuant to the transaction, Aris Gold shareholders will receive 0.5 of one GCM Mining share for each Aris Gold share held. At closing, based on the respective share values at the date of announcement of the transaction, GCM Mining and Aris Gold shareholders (excluding the 44% of Aris Gold shares held by GCM Mining) will own approximately 74% and 26% of the combined entity, respectively, on a diluted in-the-money basis.
The Board of Directors of GCM Mining and the Board of Directors of Aris Gold have unanimously approved the transaction and recommend that shareholders vote in favour of the transaction at their respective meetings.
On August 16, 2022, Aris Gold obtained an interim order from the Supreme Court of British Columbia authorizing the holding of the Aris Gold special meeting of its shareholders and matters relating to the conduct of the Aris Gold Meeting. Mailing of the joint management information circular and related meeting materials will begin soon and shareholders of both GCM Mining and Aris Gold should receive them shortly. All of the meeting materials are available on GCM Mining's website at www.gcm-mining.com and on Aris Gold's website at www.arisgold.com , as well as on each company's profile on SEDAR at www.sedar.com . GCM Mining and Aris Gold shareholders should carefully review all of the meeting materials as they contain important information concerning the transaction and the rights and entitlements of the shareholders thereunder.
Completion of the transaction is subject to customary conditions, including GCM Mining shareholder approval, Aris Gold shareholder approval, final approval from the Toronto Stock Exchange, and other regulatory approvals. The transaction is expected to close before the end of September 2022.
GCM Mining is a mid-tier gold producer with a proven track record of mine building and operating in Latin America. In Colombia, the Company is the leading high-grade underground gold and silver producer with several mines in operation at its Segovia Operations. Segovia produced 206,389 ounces of gold in 2021. In Guyana, the Company is advancing its fully funded Toroparu Project, one of the largest undeveloped gold/copper projects in the Americas, which is expected to commence production of more than 200,000 ounces of gold annually in 2024. GCM Mining has equity interests in Aris Gold Corporation (~44%; TSX: ARIS; Colombia – Marmato, Soto Norte; Canada – Juby), Denarius Metals Corp. (~32%; TSX-V: DSLV; Spain – Lomero-Poyatos and Colombia – Guia Antigua, Zancudo) and Western Atlas Resources Inc. (~26%; TSX-V: WA: Nunavut – Meadowbank).
Additional information on GCM Mining can be found at www.gcm-mining.com and www.sedar.com .
Aris Gold is a Canadian mining company listed on the TSX under the symbol ARIS and on the OTCQX under the symbol ALLXF. The Company is led by an executive team with a demonstrated track record of creating value through building globally relevant gold mining companies. In Colombia, Aris Gold operates the 100%-owned Marmato mine, where a modernization and expansion program is under way, and as of April 12, 2022, operates the Soto Norte joint venture, where environmental licensing is advancing to develop a new gold mine. Aris Gold also owns the Juby project, an advanced exploration stage gold project in the Abitibi greenstone belt of Ontario, Canada. Aris Gold plans to pursue acquisition and other growth opportunities to unlock value creation from scale and diversification.
Additional information on Aris Gold can be found at www.arisgold.com and www.sedar.com .
This news release contains "forward-looking information" or "forward-looking statements" within the meaning of Canadian securities legislation. All statements included herein are forward-looking, other than statements of historical fact, including without limitation statements relating to: approval by the GCM Mining and Aris Gold shareholders; the satisfaction of the conditions precedent to the transaction, and timing, receipt and anticipated effects of court, regulatory and other consents and approvals. Generally, the forward-looking information and forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", "will continue" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking information to the extent that they involve estimates of the mineralization that will be encountered. The material factors or assumptions used to develop forward-looking information or statements are disclosed throughout this news release.
Forward-looking information and forward-looking statements, while based on management's best estimates and assumptions, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of GCM Mining, Aris Gold and the resulting entity to be materially different from those expressed or implied by such forward-looking information or forward-looking statement
Although GCM Mining and Aris Gold have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information or statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information or statements. The forward-looking statements and forward-looking information are made as of the date hereof and each of GCM Mining and Aris Gold disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results. Accordingly, readers should not place undue reliance on forward-looking statements and information.
Source: GCM Mining Corp. and Aris Gold Corporation
News Provided by GlobeNewswire via QuoteMedia
Endeavour Silver Corp. ("Endeavour" or the "Company") (NYSE: EXK; TSX: EDR) regrets to announce that the Company's founder, Director and Executive Chairman, Bradford Cooke passed away suddenly and unexpectedly in Vancouver, BC at the age of 67. Endeavour wishes to extend our sincere condolences to his family, friends, business associates and his extensive network amongst the investment community.
Brad Cooke is well known as an accomplished geologist with nearly five decades of experience in the metals and mining industry. Brad has been a vibrant member of the mining community and will be dearly missed. As a professional geologist and entrepreneur, he has created shareholder value for stakeholders around the world through discovery, development and operations in his long-standing successful career. He has earned a reputation as an eternal optimist trying to shape the world for the greater good with constructive hard work.
Throughout all his success in business, he never forgot the difficulties of the less fortunate. He collaborated on numerous humanitarian projects over many years to make a positive difference. He instilled corporate social responsibility at Endeavour from the start in the communities near our mines. He also served as President of the Silver Institute, as an industry voice in creating public awareness of the silver industry.
Brad Cooke formed Endeavour together with Godfrey Walton in 2003 for the purpose of acquiring and developing high grade silver-gold projects in Mexico. Since that time, the Company has acquired, rebuilt and expanded four silver mines and made a significant discovery with potential to become Endeavour's next cornerstone mine.
Dan Dickson, CEO of Endeavour stated, "We are incredibly saddened by this sudden loss. Brad was extremely loyal to his people. He will be sincerely missed and always remembered by a large group of family and friends around the world. I have known and worked with Brad for 15 years and I consider him my dear friend. I will always remember him for his passion, commitment and hard-working attitude. With his vibrant energy, he strove to bring out the best in those who worked with him."
About Endeavour – Endeavour Silver Corp. 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 of becoming a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.
SOURCE Endeavour Silver Corp. Contact Information Galina Meleger, VP, Investor Relations Email: gmeleger@edrsilver.com Website: www.edrsilver.com
Follow Endeavour Silver on Facebook , Twitter , Instagram and LinkedIn .
News Provided by GlobeNewswire via QuoteMedia
Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the "Company" or Metals Creek) is pleased to announce results for 3 holes of a nine (9) hole diamond drill program (See News Release February 7, 2022) on the Ogden Gold Project in Timmins, Ontario. The Ogden Gold Project is a 5050 Joint Venture with Newmont Corporation ("Newmont"), with the Company serving as the operator.
Drilling primarily focused on the Thomas Ogden Zone (TOG) with two peripheral targets also tested. Drilling at TOG targeted potential flat lying quartz bearing structures and zones of albitization and silicification with associated mineralization within the lowermost portion of the currently defined TOG fold structure. High grade gold mineralization has a strong preferential association with the TOG fold axis which has a shallow plunge to the east.
Highlights of the drilling include:
TOG-22-71 returned a downhole intercept (324.63 - 336.77m) of 1.13 grammes per ton (g/t) gold (Au) over 12.14 meters (m), visible gold was noted in this intercept. A second zone of mineralization (284.95 - 286.00m) was intercepted returning 12.3 g/t Au over 1.05m.
This hole was drilled to further define gold mineralization associated with the TOG fold structure (See attached Schematic Cross Section 1200W Fig. 1). This zone contains moderate to strong albitization, strong silicification and local fuchsite within an altered felsite unit. Fine-grained disseminated cubic pyrite is the dominant sulfide throughout as well as locally within white quartz-carbonate veinlets. Pyrite ranges from 1-5%, with trace arsenopyrite and several fine specks of visible gold.
TOG-22-72 returned a downhole intercept (354.34 - 356.35m) of 4.71 g/t Au over 2.01m. A second zone of mineralization was cut (373.00 - 376.40m) returning 1.67 g/t Au over 3.4m. This hole (See attached Schematic Cross Section 1175W Fig. 2) was drilled 25m east of hole TOG-21-65A which returned a downhole intercept of 9.20 g/t Au over 4.47m (See News release January 27, 2022) to facilitate a better understanding of potential shallow dipping gold mineralization associated with secondary structures. Alteration consists of moderate to strong albitization and silicification within an altered conglomerate unit with local fuchsite. Fine-grained disseminated cubic pyrite occurs throughout and locally within white quartz-carbonate veinlets. Pyrite ranges from 1-5% along with trace arsenopyrite.
TOG-22-73 returned a downhole intercept (346.25 - 351.86m) of 4.24 g/t Au over 5.61 m. This hole (See attached Schematic Cross Section 1225W Fig. 3) was drilled 25m west of hole TOG-21-65A which returned a downhole intercept of 9.20 g/t Au over 4.47m (See News release January 27, 2022). Like that of hole TOG-22-72, this hole was drilled to further define shallow dipping gold mineralization associated with secondary structures. A strongly altered felsite of intense albitization and silicification with associated wispy fuchsite alteration was intersected with fine-grained disseminated cubic pyrite throughout. Pyrite ranges from 1-5%with trace arsenopyrite and local fine specks of visible gold.
Drill intercepts are core lengths and true width will be approximately 70 to 80% of drill intercept length. Further results will be released once received and compiled.
Remaining holes will be released once they are received and compiled.
All split core samples were sent to Activation Laboratories. The precious metals were analyzed utilizing a standard fire assay with an atomic absorption finish. As part of the Corporations QAQC protocol, approximately 10% of the samples submitted for assay were also sent for check assays. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol. Samples with fire assay results above 1.0 g/t gold are re-analyzed using a gravimetric finish and samples with fire assay results above 5.0 g/t gold or samples showing visible gold are analyzed using the pulp metallic method.
Drill hole locations are provided in the map below (Fig. 4).
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/943/134221_87bcd1a1c447892c_002full.jpg
Michael MacIsaac, P. Geo and VP Exploration for the Company and a Qualified Person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.
About Metals Creek Resources Corp. -
Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property from Newmont, including the past producing Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek has signed an agreement with Newmont, under which Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.
Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under its profile at www.sedar.com.
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.
Alexander (Sandy) Stares, President and CEO Metals Creek Resources Corp telephone: (709)-256-6060 fax: (709)-256-6061 email: astares@metalscreek.com www.MetalsCreek.com Twitter.com/MetalsCreekRes Facebook.com/MetalsCreek
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/943/134221_87bcd1a1c447892c_003full.jpg
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/943/134221_87bcd1a1c447892c_004full.jpg
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/943/134221_87bcd1a1c447892c_005full.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134221
News Provided by Newsfile via QuoteMedia
Prismo Metals Inc. (CSE: PRIZ) (OTCQB: PMOMF) ("Prismo" or the "Company") is pleased to announce that its 2,000-meter drill program at its Palos Verdes project located in Sinaloa, Mexico has commenced. The Palos Verdes property is contiguous to the Panuco silver-gold project of Vizsla Silver Corp. The drilling campaign is expected to last approximately two months.
The drill program is designed to test the Palos Verdes vein and a structural intersection with a second vein at depths where it is believed that potential for a large ore shoot is present, similar to the drilling accomplished by Vizsla Silver on their adjacent land package. A minimum 2,000 meter program has been contracted with MW Drilling. Previous shallow drilling has intersected high grade mineralization with the best intercept of 2,336 g/t Ag and 8.42 g.t Au over a true width estimated at 0.8 meters within a larger mineralized interval with 1,098 g/t Ag and 3.75 g/t Au over a true width of 2.3 meters (see Prismo's news release dated September 30, 2020).
Regarding the drill program, Dr. Craig Gibson, President and CEO of the Company, said: "We are pleased to be able to conduct our program to drill holes to intersect the Palos Verdes vein at significantly deeper levels than in the previous drilling campaigns. We will be able to test the vein several hundred meters underneath the surface exposures with the first hole being underway."
Prismo also announces that it intends to complete a non-brokered private placement, issuing 750,000 common shares at a price of $0.20 per share for gross proceeds of $150,000 in the coming days. The private placement will be carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the Canadian Securities Exchange. There will be no finder fee paid in this private placement
Prismo (CSE: PRIZ) is junior mining company focused on precious metal exploration in Mexico.
Contact: Craig Gibson, Chief Executive Officer and Director 1100 - 1111 Melville St., Vancouver, British Columbia V6E 3V6 craig.gibson@prismometals.com
Jason Frame, Manager of Communications jason.frame@prismometals.com
Please follow @PrismoMetals on Twitter, Facebook, LinkedIn and Instagram
Neither the Canadian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain forward-looking statements concerning the warrants exercise financing, the proceeds received from such warrant exercise financing, the use of proceeds of the warrant exercise financing, the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks, the availability of financing, the potential impact of COVID-19 on the Company's exploration program and on the Company's general business, operations and financial condition, and other risks and uncertainties described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134200
News Provided by Newsfile via QuoteMedia
Alexco Resource Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco" or the "Company") is pleased to announce that a second independent, third-party proxy advisory firm, Glass Lewis & Co. LLC (" Glass Lewis ") has recommended Alexco shareholders (" Alexco Shareholders ") vote "FOR" the proposed acquisition of Alexco by 1080980 B .C. Ltd. (" 108 "), a subsidiary of Hecla Mining Company (" Hecla ") at the upcoming special meeting of securityholders to be held on Tuesday, August 30, 2022 at 10:00 a.m. (Pacific Time) (the " Meeting ").
At the Meeting, securityholders will be asked to consider and, if deemed advisable, pass a special resolution (the " Arrangement Resolution ") to approve an arrangement (the " Arrangement "), in accordance with the terms of an arrangement agreement entered into by the Company and Hecla on July 4, 2022 , as assigned and amended (the " Arrangement Agreement ") pursuant to which 108 will acquire all of the issued and outstanding common shares of Alexco (the " Alexco Shares ") that it does not already own by way of a statutory plan of arrangement under the Business Corporations Act ( British Columbia ). Under the terms of the Arrangement, Alexco Shareholders will receive 0.116 common shares in the capital of Hecla (each common share, a " Hecla Share ") for each Alexco Share held (the " Consideration ").
In their report, Glass Lewis noted: "Based on the compelling rationale underpinning the proposed merger, as well as reasonable financial terms, we believe that the proposed merger warrants shareholder support."
Alexco's board of directors UNANIMOUSLY recommends that securityholders VOTE FOR the Arrangement Resolution
In evaluating and unanimously approving the Arrangement, the special committee of independent Alexco directors (the " Special Committee ") and the board of directors of Alexco (the " Board ") gave careful consideration to the current position and condition and the expected and potential future position and condition of the business of the Company, and all terms of the Arrangement Agreement, including the conditions precedent, representations and warranties and deal protection provisions. The Special Committee and the Board considered a number of factors including, among others, the following:
(i) the consolidation of the assets of Alexco and Hecla; (ii) jurisdictional and project risk diversification; and (iii) enhanced capital markets profile, financing capacity and access to capital.
The management information circular dated July 28, 2022 and related meeting materials (collectively, the " Meeting Materials ") have been filed by the Company on SEDAR and EDGAR and are available under the Company's profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov . The Meeting Materials are also available on the Company's website at Alexco - Investors - Special Meeting ( https://alexcoresource.com/investors/special-meeting-of-shareholders/ ).
Due to the essence of time, Alexco securityholders are encouraged to vote online or by telephone.
THE VOTING DEADLINE IS 10:00 a.m. (Vancouver Time) ON FRIDAY AUGUST 26, 2022
Beneficial Shareholder Shares held with a broker, bank or other intermediary
Registered Shareholders Shares held in own name and represented by a physical certificate
Option holders, DSU holders and RSU holders
Call or fax to the number(s) listed on your voting instruction form
Phone: 1-866-732-8683 Fax: 1-866-249-7775
Phone: 1-866-732-8683 Fax: 1-866-249-7775
Return the voting instruction form in the enclosed envelope
Return the YELLOW form of proxy in the enclosed postage paid envelope
Return the GREEN form of proxy in the enclosed postage paid envelope
For any questions or assistance with voting, Alexco securityholders can contact the Company's proxy solicitation agent, Laurel Hill Advisory Group:
Laurel Hill Advisory Group North America Toll Free : 1-877-452-7184 Outside North America : 1-416-304-0211 Email: assistance@laurelhill.com
Founded in 1891, Hecla Mining Company (NYSE: HL) is the largest silver producer in the United States . In addition to operating mines in Alaska , Idaho and Quebec, Canada , Hecla owns a number of exploration properties and pre-development projects in world-class silver and gold mining districts throughout North America.
Alexco is a Canadian primary silver company that owns and operates the majority of the historic Keno Hill Silver District in Canada's Yukon Territory , one of the highest-grade silver mines in the world.
Some statements ("forward-looking statements") in this news release contain forward-looking information concerning the Meeting, Alexco's anticipated results and developments in Alexco's operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that may occur in the future, made as of the date of this news release. Forward-looking statements may include, but are not limited to, statements regarding the Meeting, statements with respect to the consummation and timing of the Arrangement; approval by Alexco securityholders; the satisfaction of the conditions precedent to the transaction; the perceived benefits of the Arrangement; the Consideration to be received by Alexco shareholders in connection with the Arrangement; the timing, receipt and anticipated approval of the court, and of any other regulatory consents and approvals. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors, which could cause actual events or results to differ from those expressed or implied by the forward-looking statements. Such factors include, among others, the risk that the Arrangement may not close when planned or at all or on the terms and conditions set forth in the Arrangement Agreement; the failure of the Company and Hecla to obtain the necessary regulatory, court, securityholder, and other third-party approvals, or to otherwise satisfy the conditions to the completion of the Arrangement, in a timely manner, or at all, may result in the Arrangement not being completed on the proposed terms, or at all; changes in laws, regulations and government practices; if a third party makes a Superior Proposal (as defined in the Arrangement Agreement), the Arrangement may not be completed and the Company may be required to pay the Termination Fee (as defined in the Arrangement Agreement); if the Arrangement is not completed, and the Company continues as an independent entity, there are risks that the announcement of the Arrangement and the dedication of substantial resources of the Company to the completion of the Arrangement could have an impact on the Company's current business relationships and could have a material adverse effect on the current and future operations, financial condition and prospects of the Company; future prices of silver, gold, lead, zinc and other commodities; market competition; and the geopolitical, economic, permitting and legal climate that Alexco and Hecla operate in. Forward-looking statements are based on certain assumptions that management believes are reasonable at the time they are made. In making the forward-looking statements included in this news release, Alexco has applied several material assumptions, including, but not limited to, assumptions as to the ability of Alexco and Hecla to receive, in a timely manner and on satisfactory terms, the necessary regulatory, court, securityholder and other third party approvals; the satisfaction of the conditions to closing of the Arrangement in a timely manner and completion of the Arrangement on the expected terms; the expected adherence to the terms of the Arrangement Agreement and agreements related to the Arrangement Agreement; the adequacy of Alexco and Hecla's financial resources; favourable equity and debt capital markets; and stability in financial capital markets. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Alexco expressly 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 otherwise required by applicable securities legislation .
View original content: https://www.prnewswire.com/news-releases/a-second-independent-proxy-advisory-firm-glass-lewis-recommends-alexco-shareholders-vote-for-the-proposed-transaction-with-hecla-301608291.html
View original content: http://www.newswire.ca/en/releases/archive/August2022/18/c2546.html
News Provided by Canada Newswire via QuoteMedia
Quadro Resources Ltd. (TSXV: QRO) (OTC Pink: QDROF) (FSE: G4O2) ("Quadro" or the "Company") is pleased to announce that, further to its news release dated June 16, 2022, Quadro has closed the definitive option agreement dated June 15, 2022 (the "Option Agreement") with TRU Precious Metals Corp. ("TRU").
Pursuant to the terms of the Option Agreement, TRU has the option to acquire up to an aggregate 65% ownership in Quadro's Staghorn Project (the "Staghorn Project") located in central Newfoundland. The Staghorn Project is a large claim package of 133 claim units in eight mineral licenses covering 3,325 hectares with a 12 km strike length of the auriferous Cape Ray Fault Zone. The Staghorn Project is comprised of two distinct groups of licenses (see Figure 1) which are immediately within and/or adjacent to TRU's flagship Golden Rose Project ("Golden Rose").
TRU has issued 1,084,171 common shares to Quadro in respect of the first share issuance due under the Option Agreement. The deemed price of such issuance shares is approximately $0.092 per share, representing the volume-weighted average trading price of TRU's common shares on the Exchange for the 20 previous consecutive trading days. The future obligations under the Option Agreement are outlined in Quadro's news release of June 16, 2022.
All common shares issued pursuant to the terms of the Option Agreement are subject to a hold period under applicable securities laws for a period of four months plus one day from the date of issuance. For further information regarding the Option Agreement and the Staghorn Project, see the Company's news release dated June 16, 2022.
From T. Barry Coughlan (CEO & President): "We are pleased that TRU has closed the Staghorn Option. TRU's existing claim package of its Golden Rose Project is contiguous to the Staghorn claims and it is therefore a strategic exploration expansion for it to option Staghorn."
Quadro is focused on the gold rich Cape Ray Fault system, described as one of the most prospective but underexplored regions in Canada. Located in west-central Newfoundland, the Staghorn property as well as the Long Lake property cover portions of the auriferous Cape Ray Fault system which hosts a number of active gold exploration programs including Marathon Gold's Valentine Lake deposits (Proven Mineral Reserves of 1.40 Moz (29.68 Mt at 1.46 g/t) and Probable Mineral Reserves of 0.65 Moz (17.38 Mt at 1.17 g/t). Total Measured Mineral Resources (inclusive of the Mineral Reserves) comprise 1.92 Moz (32.59 Mt at 1.83 g/t) with Indicated Mineral Resources (inclusive of the Mineral Reserves) of 1.22 Moz (24.07 Mt at 1.57 g/t). Additional Inferred Mineral Resources are 1.64 Moz (29.59 Mt at 1.72 g/t Au). "N.I. 43-101 Technical Report & Feasibility Study on the Valentine Gold Project, Newfoundland and Labrador, Canada" prepared by Ausenco Engineering Canada Inc. with an effective date of April 15, 2021). Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.
Figure 1: The Staghorn claims optioned by TRU, Newfoundland.
To view an enhanced version of Figure 1, please visit: https://images.newsfilecorp.com/files/5339/134196_d238fd04e4f31bea_002full.jpg
Quadro acknowledges the financial support of the JEA Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Wayne Reid, P. Geo., VP Exploration for Quadro and a qualified person as defined in National Instrument 43-101, is responsible for this release and supervised the preparation of the information forming the basis for this release.
Quadro is a publicly traded mineral exploration company. It is led by an experienced and successful management team and is focused on exploring for gold in North America. The Company's shares trade on the TSX Venture Exchange under the symbol "QRO". Quadro owns a 100% interest in the Staghorn property, which it has optioned to TRU Precious Metals Corp., has an option to earn a 100% interest in the Long Lake and Careless Cove properties, and has an option to earn an initial 51% interest in the Tulks South Property, in Newfoundland.
On behalf of the board of directors, Quadro Resources Ltd.
"T. Barry Coughlan" President and CEO
Tel (604) 644-9561 info@quadroresources.com
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/134196
News Provided by Newsfile via QuoteMedia
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.