San Marco to Prepare for Drilling at Its Gold/Silver/Zinc Buck Property and Announces Attendance at VRIC Conference
San Marco Resources Inc. (TSXV: SMN) (“San Marco” or the “Company”) is pleased to announce the imminent approval of a five year area-based exploration permit for the Company’s Buck gold/silver/zinc property near Houston, B.C. The permit includes 30 drill sites of where multiple holes may be drilled from the same drill pad. Geophysics may be included in the initial exploration program.
Phase I exploration program activities will utilize existing access trails to construct new drill pads, which will be followed by a diamond drill program consisting of HQ oriented core. Specific drill hole locations, hole depths, number of holes etc. will be determined over the next few weeks, with the drill expected to be turning shortly thereafter.
At surface and near surface mineralized breccia, which hosts significant gold, silver and zinc values, will be the drill targets for the entire program. Examples of some historical drill intercepts over the last 50 years include;
- 30.75 metres (“m”) at 2.70 grams per ton (“g/t”) gold within 143.33 m at 0.75 g/t gold (Hole 84-1),
- 27.43 m at 2.74 g/t gold within 91.4 m at 0.93 g/t gold (Hole 68-4),
- 12.19 m at 2.58 g/t gold within 170.68 m at 0.61 g/t gold (Hole 04-01), and
- 26.5 m at 2.50 g/t gold within 265.86 m at 0.65 g/t gold (Hole 88-02).
Recent re-logging of drill core from one historical hole, and detailed review and re-interpretation of historical drill logs, indicates mineralization of economic interest is related to and contained in a diatreme geological environment, with breccia pipe features. The Buck Property currently has surface drill targets in breccia over an area approximately 700 m by 300 m with mineralized breccia also known to exist up to 200 m in depth and open in all directions. For details, please review the Company’s corporate presentation.
Most of the previous drilling has been located outside of the diatreme/breccia target model, leaving large areas of under-explored breccia targets and virgin ground. A recent alteration study from historical drill logs has been completed by Dr. David Bailey, P. Geo., and resulted in recognition that a specific level and intensity of alteration is related to the zones of best grades and widest drill hole intercepts. This, along with additional detailed data re-interpretation, has enabled San Marco’s geological team to vector into very highly prospective drill targets.
Sharyn Alexander, V.P. Technical Services, stated: “We are excited to move forward with our drill program on the Buck Property, as it will allow us to test some very interesting targets discovered during historic data compilation and re-interpretation. Our exploration plan includes obtaining fresh core in known mineralized areas to assist us in identifying the controls of mineralization and testing new targets to allow potential expansion of the existing mineralized footprint.”
San Marco holds an option to acquire a 100% interest in the Buck Property, subject to a 2.5% net smelter returns royalty which can be reduced to 1.5% for $2,500,000. See news release dated July 15, 2019.
Vancouver Resource Investment Conference
San Marco cordially invites you to visit us at Booth #630 at the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Sunday, January 19th through Monday, January 20th, 2020.
For more information or to register for the conference please visit:
About San Marco
San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada, and Mexico.
The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.
For further information, contact:
Robert Willis, P. Eng.
Executive Director
Sharyn Alexander, M.Sc.
VP Technical Services
National Instrument 43-101 Disclosure
This news release has been approved by San Marco’s Executive Director, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the data and reports from previous exploration of the property which he believes to be accurate and were provided to San Marco by the optionors.
- Published in Albert Mining, Mining, San Marco Resources
Why You Should Invest in Small-Cap Gold and Mining Stocks in 2020
Mining on the Venture Exchange is projected to have a meteoric rise in 2020. There has been a recent surge of expert advice and opinions in favor of investing in mining stocks. More and more investors are transitioning from other ventures into this industry as a result. The mining industry in 2020 could be highly lucrative, and here’s why.
Safe Haven Investments
Experts have suggested that the US dollar will fall an additional 3-5% in 2020. Financial advisors have suggested that this fall of the dollar will result in both positive and negative outcomes for the economy. However, one thing is for certain – the future is unpredictable.
Various factors lead to an uncertainty of the US economy, such as a volatile lead up to the 2020 election, conflict in the middle east, and of course, the fall of the dollar. Unpredictability leads to increased risk, and as a result, many investors are seeking safe haven investments.
Gold and mining stocks are one of these safe haven investments that have seen such a rise. [MOU1] Early investors who invested in gold and mining stocks in 2019 would have already seen an 18% rise in their investments for that year. This trend is projected to continue, with experts estimating that the price of gold could rise from $1,548/ounce (September 2019 pricing) to upwards of $2,000/ounce.
Chinese and Foreign Economies
One of the reasons that led to such a significant surge of gold and mining stocks is a boost from the Chinese economy. In 2019, China was recovering from a slow down in its economy, but as the economy began to repair itself, demand for gold and precious metals increased drastically.
This demand was further increased by the contributions from other foreign countries. In 2019, the central banks of China, Turkey and Russia bought a combined total of 120 tons of gold in the third quarter alone. This demand is expected to continue, and rise, in 2020.
Stability Amidst Conflict
Gold and mining stocks have been referred to as the “golden” standard of safe haven investments, and once again this has proven to be true. During the week of the Drone Strike on Iran, gold rose to an all time high in the past seven years, reaching $1,600/ounce.
After Iran attacked bases housing US troops in Iraq, stock markets across the globe saw noticeable declines. Although the price of gold peeled back a bit too, safe haven investments tended to fair better.
Why small-caps?
With all these factors and expert projections, now is the right time to get into gold. Savvy investors that are looking for the most return on their investments should consider small-cap stocks. Small-cap gold and mining stocks provide an avenue for growth and opportunity that just cannot be matched by larger companies.
The reason for this is simple, the mining industry is commodity based and heavily dependent on the discovery of gold and other precious metals. This means that in the exploration phase, in order for a venture to be lucrative, materials must be found. Thus, if a company is larger, it does not necessarily mean that it will perform better. Larger companies are subject to unsuccessful operations just as smaller companies are subject to highly successful operations. The same factors apply on all companies industry regardless of company size.
However, small-cap companies hold an advantage over larger companies because the same rules don’t apply in terms of financial growth. If a more established company has a successful operation, their value will grow, but only marginally relative to a small-cap company.
Mining on the Venture Exchange is expected to see significant growth in 2020. Investors considering safe-haven investments should consider small-cap gold and mining companies as a very lucrative venture this year.
Canada Cobalt Receives $1,371,437 from Exercise of Warrants
Canada Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt”) is pleased to announce that all 50-cent warrants from the Company’s January 2018 financing have been exercised, including 2,742,875 of them over the last two weeks (200,000 were exercised in early 2019).
The exercise of these warrants has added $1,371,437 to the Company’s treasury this month following the completion of a total of $2,134,500 in two hard dollar private placements with strategic investors in September and November 2019, and $800,000 in a flow-through financing in early December 2019.
Drilling continues at Canada Cobalt’s Castle East high-grade silver discovery, with another update from Castle East expected soon, while a work program has just commenced at the Company’s past producing Beaver high-grade Silver Property. The patented Beaver claims, which formed part of the historic Beaver-Timiskaming mine, are approximately five kilometers from the Company’s newly-acquired PolyMet facility in the town of Cobalt.
About Canada Cobalt Works Inc.
Canada Cobalt’s flagship Castle mine and 78 sq. km Castle Property features strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past producing Gowganda high-grade Silver District of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Cobalt is strategically positioned to become a vertically integrated North American leader in cobalt extraction and recovery while it also exploits a powerful new silver-gold market cycle.
“Frank J. Basa”
Frank J. Basa, P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Cobalt Works Inc.
View original content: http://www.newswire.ca/en/releases/archive/January2020/14/c7744.html
Contact:
Frank J. Basa, P.Eng., President and CEO, 1-416-625-2342; Marc Bamber, Director, mb@buffaloassociates.com, +44-7725-960939
- Published in Canada Cobalt Works, Mining, News Home
EXMceuticals Inc. names Paulo Martins as Chief Executive Officer for Portugal operations
EXMceuticals Inc. (CSE: EXM) (FSE: A2PAW2) (the “Company” or “EXM”), a producer of cannabis extractions and refined ingredients for the pharmaceutical, nutraceutical, therapeutical and cosmetic industries, has appointed Paulo Martins as Chief Executive Officer and Country Director of its operations in Portugal.
“We are fortunate to have someone of Paulo Martin’s calibre and experience to step up to lead EXM Portugal.” said Jonathan Summers, CEO and Chairman of EXM board. “As we commence building our commercial refinery we are at a critical moment in our journey. Having the right leadership will allow EXM to successfully implement our strategy and take advantage of the market opportunities ahead. Paulo has been a major driving force these last few months and helped, together with the team, EXM obtain its cannabis Research and Development licence from Infarmed. Paulo has a proven track record of execution, is a strong communicator, is deeply business focused and clear leadership capabilities. Furthermore, as a member of EXM’s Portugal team for the past nine months he has a solid understanding of our objectives, the opportunities, as well as the potential pitfalls of growing a cannabis business on a demanding regulatory environment.”
Martins said, “I am honored and excited to lead EXM Portugal. I believe in our team and our plan – I know this company has everything to succeed in this challenging and exciting new business area.’’
Speaking on behalf of the board, Summers said, “The board believes that the job of the Portugal CEO requires additional attributes to successfully execute on the Company’s strategy. Paulo Martins has the right operational and communication skills, ethics and leadership abilities to deliver improved execution and financial performance.”
EXMceuticals already operates a fully equipped, staffed and licensed Cannabis R&D laboratory in central Lisbon. The Company is currently seeking additional R&D partners and can potentially supply the relevant compounds for these research activities. The priority for the Company in 1H 2020 will be the fitting-out and equipping of a pharmaceutical-grade factory facility south of Lisbon that will be finished to EU-GMP standards. Once commercially licensed this will permit the supply and export of extremely pure cannabis ingredients across the EU and beyond, under the aegis of the Portuguese medicines regulator.
The Company announces the resignations of Messrs. Michel Passebon and Scott Davis. We would like to thank Michel Passebon and Scott Davis for all their work as CEO and CFO of EXM. They helped EXM to move forward in the early stages of the Company. Jonathan Summers will act as interim CEO until a successor is appointed.
ON BEHALF OF THE BOARD OF DIRECTORS OF EXMCEUTICALS INC.
Jonathan Summers, Chairman and Chief Executive Officer
For further information contact:
Investor Relations
Email: investors@exmceuticals.com
Media Enquiries:
Email: media@exmceuticals.com
Mélanie Guillemette: +1 819 668 2734
ABOUT EXMCEUTICALS
EXM is targeting the wellness and medical applications of cannabis. EXM’s activities are focused on the sustainable cultivation of cannabis and hemp, and the production of high-grade cannabis and hemp ingredients for the pharmaceutical, therapeutical, nutraceutical and cosmetic industries. The Company proposes to sell the produced ingredients to international markets. EXM is not a recreational cannabis company.
EXM was recently granted the required authorizations and permits in Portugal for its existing laboratory and pilot refinery for cannabis research. EXM has previously completed research projects with its university partners, Universidade Nova de Lisboa and Universidade Lusofona as well as applying for P2020 research grants. Following receipt of these unique Portuguese cannabis authorizations and permits, EXM is proceeding with its planned R&D program, lab work and testing. In addition to this more scientific mandate, EXM is now projecting and building a significantly larger refining facility in Portugal which once complete and licensed will be used by EXM as its base for distribution of cannabis ingredients in the EU and North America.
EXM has also submitted applications and undertaken negotiations with local governments and partners in Ethiopia, Malawi, Zambia, Eswatini and Burundi, in order to obtain licences to permit the cultivation of cannabis and hemp, as well as the processing, transformation and export of psychotropic and non-psychotropic cannabinoid ingredients. In Ethiopia, EXM is in its final stage of negotiation with the government for an agro-industrial park, of 4,000 hectares (9,880 acres) encompassing a free trade zone, for which EXM has already obtained land rights over 2,000 hectares (4,940 acres) in the Amhara region.
CSE:EXM| FSE: A2PAW2
- Published in EXMceuticals
Crystal Lake sets record date for Sassy distribution
Crystal Lake Mining Corp. has determined the share distribution record date with respect to the plan of arrangement among the company, Sassy Resources Corp. and the shareholders of the company.
Under the terms of the arrangement, Crystal Lake shareholders of record at the close of business on Feb. 10, 2020, will receive one common share of Sassy Resources with respect to every one common share of Crystal Lake multiplied by the conversion factor. Pursuant to the arrangement, the conversion factor means the number arrived at by dividing 10 million by the number of issued Crystal Lake shares as of the close of business on the share distribution record date so that the total number of Sassy Resources shares to be issued to the Crystal Lake shareholders pursuant to the arrangement is equal to 10 million Sassy Resources shares subject to rounding of fractional shares.
Sassy Resources shares will be issued to the Crystal Lake shareholders on or around Feb. 18, 2020.
The TSX Venture Exchange has advised that the Crystal Lake shares will trade on a due-bill basis in relation to the issuance of Sassy Resources shares pursuant the arrangement. The details of the due bills trading will be announced by a news release closer to the share distribution record date.
By way of this news release, Crystal Lake is also providing notice to its warrant holders and option holders with respect to the share distribution record date. In order to receive Sassy shares pursuant to the arrangement, a person must be a holder of Crystal Lake shares as of the share distribution record date. If an option holder or a warrant holder does not exercise his or her warrants or options on or before the share distribution record date, he or she will not receive Sassy Resources shares and there will be no changes with respect to the number, terms and conditions of the issued warrants and options of Crystal Lake. Additional information regarding the terms of the arrangement are set out in Crystal Lake’s management information circular dated Aug. 23, 2019, and the news releases dated June 25, 2019, July 26, 2019, Oct. 1, 2019, and Oct. 4, 2019, all of which are available for viewing on Crystal Lake’s SEDAR profile.
About Crystal Lake Mining Corp.
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The company has an option to earn a 100-per-cent interest in the Newmont Lake project, one of the largest land packages among juniors in the broader Eskay region in the heart of northwest B.C.’s Golden Triangle.
- Published in Crystal Lake Mining, Mining, News Home
FRESH ASSAYS SHOW MASSIVE NATIVE SILVER GRADES IN SECOND WEDGE HOLE AT CASTLE EAST DISCOVERY
Canada Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt”) is pleased to announce that assays from the second wedge hole at the Robinson Zone at Castle East, a new grassroots high-grade discovery adjacent to three past producers, have returned 70,380 g/t silver (2,053 oz/ton) over 0.30 meters within a broader zone of 1.4 meters grading 20,136 g/t (587 oz/ton) and 4 meters (core length) of 7,259 g/t (212 oz/ton).
The very high-grade intersection in CA-19-08-02 is approximately 8 meters west of the mineralized zone intersected by the first wedge hole (430 meters vertical depth) and 17 meters west of the original discovery intercept in hole CA-11-08.
Assays for cobalt, nickel and copper from CA-19-08-WO2 are still pending in addition to assays from 28 other samples from this hole. Assays for the full 4.65-meter strongly mineralized interval (core length) from hole CA-19-08-W01 are also still pending (50,583.29 g/t Ag over 0.60 meters within 1.5 meters of 20,741 g/t) in addition to results from 58 samples from the third and fourth wedge holes.
Drilling continues as Canada Cobalt builds out this discovery.
Matt Halliday, Canada Cobalt VP-Exploration, commented, “These are truly exceptional grades from the first two holes and ‘hits’ that typically do not occur in isolation in this kind of geological setting. We look forward to providing another update for shareholders in the near future.”
Regional Property Map
Please visit the Canada Cobalt web site at CanadaCobaltWorks.com for an updated location/geological map for the Castle Property, also included in this news release.
Vertical Section
Included in this news release (see below) is an updated vertical section map for the Castle East high-grade silver discovery with the assay table for CA-19-08-W02. Refer to the Canada Cobalt web site at CanadaCobaltWorks.com for additional maps, images and video that will be posted during this drill program.
Photos below are of selected intervals and are not necessarily representative of mineralization hosted on property.
Quality Control/Assurance
The drill program and sampling protocol are being managed by geologists from GoldMinds Geoservices. Holes CS-19-08-W01 to W04 were wedges drilled off the historic CA-11-08 hole. The original hole was re-opened, a modern gyro survey was completed to confirm the location of the hole at depth and then the wedges were drilled from different depths using NQ diameter drill core. Samples were collected using a 0.3-meter minimum length, one-meter maximum length. Drill core recovery averaged 95%. Two quality control samples (blank and standards) were inserted into each batch of 20 samples. The drill core was sawn with one half of the sawn core placed in a plastic bag with the sample tag and sealed, while the second half was returned to the core box for storage on site. For the high-grade intercepts, only one-quarter of the core has been sent for assaying to Swastika Laboratories in Swastika, Ontario. Where silver was visually and significantly present, a pulp-metallic analysis was requested for the silver and gold assays where the entire sample is dried, weighed and crushed over 95% then fully pulverized and passed through 200-mesh screen to create a plus 200-mesh fraction (metallics) and a minus 200-mesh fraction (pulp). The minus 200-mesh fraction (fines) was run using geochemical analysis with AA finish for Ag, Au, Cu, Ni, and Co. The entire +200 mesh (coarse) fraction was analyzed using gravimetric processes (fire assay) for both Ag and Au to provide a weighted average assay for the entire sample.
Swastika Laboratories is an ISO certified lab independent of Canada Cobalt.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Merouane Rachidi, Ph.D., P.Geo., (APGO, APEGNB and OGQ) of GoldMinds Geoservices, a qualified person in accordance with National Instrument 43-101.
About Canada Cobalt Works Inc.
Canada Cobalt has 100% ownership of the Castle mine and the 78 sq. km Castle Property with strong exploration upside in the prolific past producing Gowganda high-grade Silver Camp of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Cobalt is strategically positioned to become a vertically integrated North American leader in cobalt extraction and recovery while it also exploits a powerful new silver-gold market cycle.
“Frank J. Basa”
Frank J. Basa, P. Eng.
President and Chief Executive Officer
For further information, contact:
Frank J. Basa, P.Eng., President and CEO 1-416-625-2342 | Marc Bamber, Director mb@buffaloassociates.com +44-7725-960939 |
- Published in Canada Cobalt Works, Mining, News Home
Canada Cobalt and Polymet Enter Into Definitive Purchase Agreement
Canada Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt“) is pleased to announce that it has closed its deal to acquire the only facility (“PolyMet Labs”) in the Northern Ontario Silver-Cobalt district that combines bullion pouring, bulk sampling, commercial assaying and e-waste processing.
The Transaction, completed at an opportune time in the precious metals cycle, provides Canada Cobalt with multiple immediate and long-term advantages as a fully integrated leader in Canada’s Silver-Cobalt heartland. The lab and mineral processing facility in the town of Cobalt, within just 50 meters of a rail line and just a short distance from Canada Cobalt’s Castle and Beaver properties, will also become the new home of the Company’s environmentally friendly Re-2OX Process.
Terms of Transaction
Canada Cobalt’s newly-formed wholly-owned subsidiary, Temiskaming Testing Laboratories Inc. (“TTL”), and PolyMet Resources Inc. (“PolyMet”) have entered into a definitive asset purchase agreement dated January 8, 2020 (the “Purchase Agreement”) pursuant to which TTL has agreed to purchase substantially all of the assets of PolyMet (the “Transaction”).
Under the terms of the Purchase Agreement, Canada Cobalt will issue an aggregate of 690,409 units to PolyMet at a deemed price of $0.45 per unit for total consideration of approximately $310,684. Each unit comprises one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share of Canada Cobalt at an exercise price of $0.50 for a period of two years from closing of the Transaction. TTL will also assume certain outstanding obligations of PolyMet in an amount of approximately $339,316.
The Transaction is subject to standard closing conditions, including approval by the TSX Venture Exchange. The shares and warrants to be issued to PolyMet will be subject to restrictions on resale for a period of four months from the closing date of the Transaction.
About Canada Cobalt Works Inc.
Canada Cobalt has 100% ownership of the Castle mine and the 78 sq. km Castle Property with strong exploration upside in the prolific past producing Gowganda high-grade Silver Camp of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, and a proprietary hydrometallurgical process known as Re-2OX for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Cobalt is strategically positioned to become a vertically integrated North American leader in cobalt extraction and recovery while it also exploits a powerful new silver-gold market cycle.
“Frank J. Basa”
Frank J. Basa, P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Cobalt Works Inc.
View original content: http://www.newswire.ca/en/releases/archive/January2020/10/c8506.html
Contact:
Frank J. Basa, P.Eng., President and CEO, 1-416-625-2342; Marc Bamber, Director, mb@buffaloassociates.com, +44-7725-960939
- Published in Canada Cobalt Works, Mining, News Home
Rio Silver Inc. Acquires the Palta Dorada Gold-Silver-Copper Project in Northern Peru and Signs Memorandum of Understanding for Joint Development
Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) announces the acquisition of the Palta Dorada Au-Ag-Cu property (“Palta Dorada” or the “Property”). The property contains several high-grade gold-silver veins both oxide and sulphide that has been mined by artisanal methods. The Company has also signed a Memorandum of Understanding (“MOU”) with Peruvian Metals Corp (“Peruvian Metals”) to jointly explore the Palta Dorada Au-Ag-Cu Property (“Palta Dorada” or the “Property”) by initially conducting a detailed sampling and mapping program along with a bulk sampling campaign and processing the mineral at Peruvian Metals’ 80% owned Aguila Norte Processing Plant (“Aguila Norte or Plant”).
The Palta Dorada Au-Ag-Cu Property is located in the Ancash Mining Department in Northern Peru and covers an area of approximately 1200 hectares. The Property is accessible from the Plant by approximately 180 kms of mainly paved roadway. The MOU establishes a joint effort to explore and develop the property. Any sales from metal concentrates produced from the bulk sampling activity and all operational expenses will be shared between companies. Peruvian Metals’ 80% owned Plant will charge the joint effort commercial mineral processing rates on a similar basis to its other clients for processing the bulk samples.
Peruvian Metals will also have the option to earn a 50% ownership in the property. Equal ownership will occur once Peruvian Metals has matched Rio Silver’s acquisition price of the project of $250,000 US by assuming all capital and exploration expenditures. Any shortfall of capital expense by Peruvian Metals will require a cash payment to the joint effort by December 31, 2021. Both companies will enter into a definitive shareholder agreement in Peru shortly.
Limited surface mapping and sampling has identified several oxide Au-Ag veins hosted in granodioritic rocks. The previous owner completed extensive production ready access to several levels for exploration and bulk sampling, as well as limited small-scale bulk sampling in several adits and shafts. The main working is a 53 metre shaft where miners hoisted mineral to the surface. Eight chip samples have been taken from quartz veins containing sulphides in the shaft at various depths. Results from these samples range from 3.06 g/t Au to 24.1 g/t Au, 36 g/t Ag to 865 g/t Ag and 0.22% Cu to 4.94% Cu over an average width of 60 centimeters. The weighted average of the quartz-sulphide vein is 9.61 g/t Au, 256 g/t Ag and 1.42% Cu over the 60 centimeters. The mineralized NEE-SWW mesothermal vein exposed in this main working has been observed over an 800 metre strike length on surface. The oxide-sulphide transition occurs at approximately 25 metres below surface.
At the initial property visit by the QP, approximately 45 tonnes of mineral had been selectively exploited; hand sorted and sacked outside of the main working ready for shipment to tolls mills in Southern Peru. Two composite samples were taken from various sacks and returned an average grade of 26.7 g/t Au, 23.76 oz/t Ag and 3.16% Cu. The samples taken were selected random grabs from hand sorted sacks and are not representative of the mineralization hosted on the property.
A third random composite sample of approximately 50 kilograms was taken from these sacks and used for metallurgical work. The work performed on this sample by Procesmin Ingenieros Laboratories head a head grade of 23.21 grams/MT Au, 29.04 oz/MT Ag and 4.95% Cu. Metallurgical work showed that two concentrates can be produced. The first and more valuable concentrate graded 125.59 grams Au/MT, 4,808 grams Ag/MT and 24.41% Cu. A second Au-pyrite concentrate was also produced graded 11.46 grams/MT Au, 565 grams Ag/MT and 2.90% Cu.
Artisanal workings on a second SEE-NWW structure north of the main working exposed strongly oxidized quartz veins ranging between 30 to 70 centimeters in width. Four composite samples taken from mineral sacks containing heavily oxidized material ready for shipment ranged from 8.65 g/t to 17.3 g/t averaging 12.4 g/t Au. The samples taken from the sacks were random grabs and are not representative of the mineralization hosted on the property. A bottle-roll metallurgical sample with a head grade of 13.0 g/t Au and 102 g/t Ag returned a 92.15% gold and 65% silver recoveries over 36 hours.
Peruvian Metals will act as the operator of the joint effort and will be responsible to obtain all the permits necessary to explore and extract a bulk sample and expects no permitting issues. An experienced underground contractor has agreed to start the mobilization of the compressors and equipment to the site to extract the bulk sample. The bulk sampling and exploration is expected to commence in the first quarter of 2020.
Chris Verrico, CEO of Rio Silver states: “We are very pleased to have accomplished these milestones, leveraging our joint resources and working together. The Palta Dorada property has several high-grade Au-Ag-Cu veins ready to be bulk sampled and processed at the Aguila Norte Plant. Oxide gold material can also be bulk sampled and treated at a number toll mills. Initial development and exploration will consist of drifting along the sulphide veins in this prominent structure, potentially identifying a minable resource which would only enhance our ability to explore our flagship Niñobamba project in a timely manner.”
Jeffrey Reeder, P Geo, a qualified person as defined in National Instrument 43-101, has prepared, supervised the preparation or approved the scientific and technical disclosure contained in this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not a guarantee of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required by applicable laws
SOURCE Rio Silver
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2020/09/c6910.html
Contact:
Christopher Verrico, President, CEO, Tel: (604) 762-4448, Email: chris.verrico@riosilverinc.com, Website: www.riosilverinc.com
- Published in Mining, News Home, Rio Silver
Pilar Gold Project – Colibri Option Partner Tocvan Ventures Announces High Grade Mineralization at Two New Showings
Colibri Resource Corporation (“Colibri” or the “Company”) is pleased to announce that it has received the rock chip sample results from Tocvan Ventures Inc. (“Tocvan”) which were taken by Tocvan’s geologists during a due diligence visit the Pilar gold project in November 2019. Colibri has subsequently entered into an option agreement with Tocvan regarding Pilar since that time (See news release dated: November 26, 2019). A total of 35 samples were sent for assay, four of which were QA-QC samples. Significant results were found in 22 samples.
Sample # | Au g/t | Ag g/t | Cu % | Pb % |
PILAR-MTS-02 | 0.9 | 14.3 | 0.261 | 0.003 |
PILAR-MTS-03 | 1.3 | 5.4 | 0.338 | 0.002 |
PILAR-MTS-05 | 0.8 | 12.7 | 0.129 | 0.002 |
PILAR-MTS-06 | 3.2 | 8.3 | 0.350 | 0.001 |
PILAR-MTS-09 | 0.2 | 2.2 | 1.255 | 0.005 |
PILAR-MTS-10 | 0.9 | 17.2 | 0.734 | 0.010 |
PILAR-MTS-11 | 3.8 | 57.4 | 0.846 | 0.005 |
PILAR-MTS-12 | 0.0 | 5.6 | 1.910 | 0.001 |
PILAR-MTS-13 | 0.0 | 12.9 | 0.946 | 0.001 |
PILAR-MTS-14 | 0.1 | 3.3 | 1.400 | 0.001 |
PILAR-MTS-19 | 0.8 | 1.7 | 0.013 | 0.008 |
PILAR-MTS-20 | 5.6 | 84.2 | 0.088 | 1.710 |
PILAR-MTS-21 | 0.7 | 20.3 | 0.027 | 0.185 |
PILAR-MTS-22 | 9.3 | 76.4 | 0.120 | 2.150 |
PILAR-MTS-25 | 0.5 | 323.0 | 0.016 | 0.242 |
PILAR-MTS-26 | 1.4 | 2.4 | 0.002 | 0.013 |
PILAR-MTS-27 | 2.2 | 14.7 | 0.012 | 0.259 |
PILAR-MTS-29 | 4.3 | 172.0 | 0.086 | 1.125 |
PILAR-MTS-30 | 23.7 | 116.0 | 0.089 | 0.040 |
PILAR-MTS-33 | 4.4 | 44.5 | 0.109 | 0.036 |
PILAR-MTS-34 | 7.5 | 41.9 | 0.044 | 0.022 |
PILAR-MTS-35 | 2.2 | 3.5 | 0.179 | 0.008 |
The samples taken illustrate high grade gold (Au) and silver (Ag) assay results at two new areas that could significantly extend the known mineralization on the Pilar property. Among the assay results are values up to 9.3 g/t Au and 76.4 g/t Ag at the south-east part of the property, and up to 323 g/t Ag and 0.5 g/t Au midway along the eastern portion of the property. Samples taken in these areas follow up a prominent gold and silver anomaly identified in a soil sample survey in 2018.
In addition, Tocvan conducted a check of the location of the S-10 drill intercept from the mid 1990’s which returned 53.47 g/t Au and 53.4 g/t Ag over 16.5m. The drill intercept location was estimated and then projected to surface where a dark red hematite sheared outcrop was located, uncovered and sampled. Among the assays returned was a sample of 3.8 g/t Au and 57.4 g/t Ag showing mineralizing fluid flow in the structures.
A full map illustrating the samples taken in November 2018 at Pilar can be viewed in Tocvan’s news release dated January 7th, 2020.
The technical information in this news release has been prepared by Mark T. Smethurst, P.Geo., COO and Director of Tocvan Ventures Inc, and a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Colibri Resource Corporation:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) focused on acquiring and exploring properties in Mexico. The Company currently has five active exploration properties at various stages of exploration.
For more information about all of our projects please visit: www.colibriresource.com.
We seek safe harbour.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.
SOURCE Colibri Resource Corporation
View original content: http://www.newswire.ca/en/releases/archive/January2020/07/c2397.html
Contact:
Ronald J. Goguen, President, Chairperson and Director, Tel:(506) 383-4274, rongoguen@colibriresource.com
- Published in Colibri Resource Corp, Mining, News Home
How to Invest in Gold Stocks
If you’re looking for investments that are highly lucrative, investing in gold stocks is a good option. Unlike other markets that are subject to the rise and falls of the stock market, gold has remained historically favorable. From November 2007 – June 2009, the S&P 500 index saw a significant decrease, dropping by 36%. On the contrary, the price of gold actually rose by 25%.This is because gold is a safe-haven investment, and during times of economic downturn, investors seek out opportunities to invest in it. There are several options for individuals to get involved in gold stocks. The optimal investment choice depends on the needs and goals of the investor. However, if the investor does their research and invests properly, gold stocks can be astronomically profitable.
Types of Stocks
There are two ways of investing in gold stocks – through direct and indirect exposure. As the name suggests, direct exposure gives the investor direct ownership of gold. Indirect exposure, on the other hand, allows the investor to invest in the various agencies involved in the gold industry.
Gold ETFs – Direct Ownership
Gold exchange traded funds (ETF) purchase gold on behalf of their shareholders. This allows investors to directly own gold while also providing a liquidable asset, since gold ETFs are traded on the stock exchange, unlike physical bars of gold. However, like physical gold, gold ETFs are usually a safe investment.
Gold Mining Stocks – An “Active” Investment
Many investors choose to invest in gold mining stocks instead. This is because gold mining companies are able to grow exponentially in size and could potentially be even more lucrative than other forms of gold investment. Consider this, an ounce of gold will always be an ounce of gold. True, the price of gold may change through inflation and changing market conditions, but this increase is unlikely to experience a drastic change in a short period of time.
Gold mining stocks, on the other hand, may see an investment double or triple overnight. Gold mining stocks, more so than any other gold stock, require a great deal of “active” investing. What this means is that the investor has to actively stay on top of the developments of their investment. Gold mining can be one of the most results-driven markets around, and the worth of a particular investment may depend on how many resources are found. It is important for investors to do their research and look for companies that fit their needs. Different companies offer different benefits. Of particular note are small-cap gold mining companies, which are less established companies with the highest ceilings for growth.
The other benefit to gold mining stocks are that they have the potential to become profitable through other finds. Even if a mine does not find gold, it may discover a wealth of other precious resources. This will have a similar effect in significantly increasing the value of shares.
Gold Mining Mutual Funds and ETFs – Portfolio Diversification
Stocks in gold mining mutual funds and ETFs are another way for investors to indirectly invest in gold. These options are ideal for investors who want to have a diverse portfolio and through a one-time investment. In addition, since these mutual funds and ETFs are involved with multiple companies, there is a lesser need for investors to be as active.
Many ETFs and Mutual Funds that track gold mining companies may also track other precious metals. This may be a deterrent for those who wish to solely invest in gold, but it may prove to be profitable and help minimize loss through increased diversification.
Streaming and Royalty Companies – An Excellent All Around Option
Investors can also purchase shares in gold streaming and royalty companies. These companies pay mining companies a fee upfront for the right to purchase gold and other precious metals from their mines in the future.
These types of companies benefit shareholders since they provide widely diverse portfolios and mitigate some of the risk from directly investing in mining companies, since they are impacted less by unsuccessful mining operations. They also provide wide margins that are more stable when the price of gold begins to drop. Finally, their value also increases with gold prices, since these companies make their revenue through selling the gold they purchased from mines.
However, most royalty and streaming companies do not work with only gold. These types of companies will often have other added resources that they deal in. Some common exposures include silver, oil and gas. Thus, it is important for investors to know the target audience and markets of the company they choose to invest in.
There are many options to get involved in gold stocks, and they can all be highly profitable. Investors should pick the option that is most suitable for them. No matter which option you pick, gold and gold mining stocks are a lucrative addition to any portfolio.