NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) (NV Gold or the "Company ") is pleased to announce that it has received the approval of the Notice of Intent (NOI) for the Company's Triple T Gold Project in Pershing County, Nevada ("Triple T
About the Triple T Gold Property:
Thomas Klein, VP Exploration stated, "I am excited to have received the approval for drilling NV Gold's Triple T Gold Project located at the southeastern end of the Humboldt Range, Pershing County, Nevada. Triple T is one of three promising lease agreements the Company has done with Tom Callicrate (Mountain Gold Claims, LLC) over the last year. The Project has decent gold values with multiple grams up to 11.7 g/t Au from rock chip sampling and the remaining open gold intercepts from historical drilling in excess of 1.0 g/t Au were compelling enough to get the Project added back to NV Gold's Exploration Portfolio."
NV Gold (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) is a well-financed exploration company with ~80 million shares issued, a solid treasury and no debt. The Company is based in Vancouver, British Columbia, and Reno, Nevada and is focused on delivering value through mineral discoveries in Nevada, USA. Leveraging its expansive property portfolio, its highly experienced in-house technical team, and its extensive geological data library, 2022 promises to be highly productive for NV Gold.
On behalf of the Board of Directors,
John Seaberg, Director and CEO
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
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 includes certain forward-looking statements or information. 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 regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals, The Company disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
News Provided by ACCESSWIRE via QuoteMedia
NV Gold Corporation (TSXV:NVX,OTC Pink:NVGLF) is a junior exploration company focused on delivering value through mineral discoveries and a highly-experienced in-house technical team. The company owns 16 gold properties throughout Nevada, which was named the number one mining jurisdiction in the world by the Fraser Institute. NV Gold is primarily focused on developing its Frazier Dome project.
The Frazier Dome project is located near the Tonopah mining district and is 32 kilometers from Columbus Gold’s (TSX:CGT) Eastside project. The company’s 2018 drill program tested four of nine target areas and intersected between 0.10 g/t gold and 1.035 g/t gold in five holes. The company is currently conducting a surface mapping, sampling, geophysics and drilling program that’s targeting the gold mineralization adjacent to the intrusive dome.
NV Gold’s 15 other Nevada properties are all in various stages of development. The company intends to develop each of its properties one at a time and is continuously looking to acquire additional projects. The company also intends to drill on one of these projects.
NV Gold has gained access to AngloGold Ashanti’s (ASX:AGG,NYSE:AU) and USMX Inc.’s historical databases, giving the company an edge over its peers when it comes to exploration. The company has also attracted the attention of Eric Sprott, Redstar Gold Corp. (TSXV:RGC) and US Global Investors who collectively own 16 percent of shares.
The company also boasts three highly-regarded and skilled management team members who all have experience working in Nevada. Heading the team is Chairman and CEO John Watson who has over 30 years of experience in the mineral resource industry in Nevada. Joining him are directors Dr. Quinton Hennigh, Dr. Odin Christensen and VP Exploration Dr. Marcus Johnston, who collectively have over 55 years of mining experience in Nevada.
The Frazier Dome project is comprised of 50 unpatented mining claims. The project is 13 kilometers north of the Tonopah mining district in Nevada. The Tonopah district contains two styles of volcanic-hosted epithermal gold mineralization: high-grade, intermediate sulfidation veins and low-sulfidation, gold-rich mineralization. The mineralized system at Frazier Dome is similar to the low-sulfidation mineralization found in the district and at Columbus Gold’s Eastside project which is located 32 kilometers to the west.
The project contains a high-grade, low-sulfidation, volcanic-hosted epithermal gold system in three areas: silicified breccias and veins, north and northwest-trending quartz vein stockworks and silicified volcanic lacking veins. The veins have been traced up to 370 meters before projecting under a thin post-mineral volcanic and alluvial cover.
Between 1980 and 1991, historical drilling intersected an area of shallow gold mineralization. Drilling, however, failed to test all areas of outcropping gold or for mineralization beneath the cover. Notable historical drill results included 1.5 meters grading 10.38 g/t gold and 15.2 meters grading 0.85 g/t gold.
Based on preliminary exploratory work, NV Gold has identified a target area adjacent to the intrusive dome that could be conducive to the development of high-grade epithermal mineralization. The company’s 2018 drill program tested four of nine target areas. Five of the eight widely-spaced holes intersected between 0.10 g/t gold and 1.035 g/t gold.
“Modelling of the Frazier Dome identified many geologic similarities with the shallow parts of low-sulfidation epithermal deposits, especially resources related to other rhyolite domes in the vicinity, such as the Eastside, Hasbrouk and Three Hills gold deposits,” said NV Gold VP Exploration Dr. Marcus Johnston. “The eight reverse circulation holes NVX drilled in 2018 all encountered significant runs of alteration and gold and silver mineralization. The lengths and widths of the mapped fracture and vein sets, combined with the long-runs of alteration and mineralization in drilling, and the shallow nature of the exposed system all point toward a potentially bonanza-grade deeper deposit(s), and the possibility of bulk-tonnage ore to be found on the property.”
NV Gold is currently conducting an exploration program at Frazier Dome. The program includes surface mapping, sampling, geophysics and drilling that will target the gold mineralization adjacent to the intrusive dome.
NV Gold has 14 additional properties in Nevada that are in different phases of development. The company intends to continue to move each property forward with plans to acquire additional properties.
The 6.5-square-kilometer SW Pipe project resides in the Cortez Gold Belt in north-central Nevada. The project is six kilometers southwest of Barrick Gold Corp.’s (TSX:ABX) Pipeline gold mine, which contains approximately 21 million ounces of gold.
Between 1989 and 1997, the property saw historical vertical drilling. Within 150 meters of the surface, a previous operator intersected gold mineralization. Notable results from the program include 17 meters grading 0.44 g/t gold, 11 meters grading 0.75 g/t gold and 18 meters grading 0.60 g/t gold.
NV Gold’s first-phase rock sampling returned gold values up to 1.74 ppm gold with high arsenic and antimony levels. The mineralization at SW Pipe is predominantly within 100 meters of the surface. Gold can be found over a vertical range of at least 300 meters within a 1.3-kilometer by 500-meter area.
The company’s preliminary results from the project indicate that north and northwest-striking faults may have localized mineralization which spread laterally away from these faults. The faults have not been drill tested to date.
NV Gold is reviewing historical exploration data which includes original assay certificates and drill logs, surface rock chip and soil data, internal third-party reports and geological and geophysical interpretations. Aside from its data review efforts, the company also intends to continue to assess the property for mineralization at the feeder structures and outside of historical drilling areas.
The Richmond Summit project is four miles northwest of Newmont Goldcorp’s (NYSE:NEM) Mike copper-gold deposit in the Maggie Creek district and five miles south of Newmont Goldcorp’s Carlin gold mine. The Maggie Creek district has a gold production, reserves and resource total of approximately 29 million ounces with 10 million ounces concentrated in the Carlin mine area alone.
Carlin-type gold mineralization occurs in several widely-spaced areas on the property. Select surface samples from the Main zone returned 7.75 ppm gold, and historical trenching samples returned 20 feet grading 3.048 ppm gold, 10 feet grading 4.960 ppm gold and 10 feet grading 3.59 ppm gold.
Before 1991, limited historical drilling intersected shallow gold mineralization within 200 feet of the surface, returning 10 feet grading 2.54 ppm gold. Mineralization in the area is accompanied by elevated arsenic, antimony and mercury levels, which are typically associated with Carlin-type gold mineralization.
The Ridge zone is 1,200 feet west of the Main zone which is another area of interest for NV Gold. Trenching returned 72 meters of anomalous gold with values of up to 1.97 g/t gold, and a rock-chip sample returned values of 3.7 g/t gold.
Two drill holes were completed at the Main zone and one at the Ridge zone. One of the holes at the Main zone intersected anomalous gold and arsenic values of up to 400 ppb gold and 2,600 ppm arsenic.
The Root Spring project is 80 kilometers south of Winnemucca, Nevada and 26 kilometers east of Coeur Mining’s (NYSE:CDE) Rochester silver mine. A 1.2-kilometer-long vein system has been identified on the property to date. Significant gold and silver values have been recovered as well, including up to 9.4 g/t gold and up to 1,500 g/t silver.
As part of NV Gold’s 2019 exploration program, the company completed mapping, sampling and drill target generation at the Root Springs project. The company traced the Root Springs vein system at surface for over 1,200-meters along strike and determined that there are two spatially distinct vein sets present. NV Gold also collected 39 rock-chip samples from the property. Sampling returned values up to 1,495 g/t silver and up to 8.02 g/t gold, along with positive base metal results of up to 0.51 percent copper, 0.68 percent lead and 0.89 percent zinc.
The Painted Hills property is 17 miles southwest of Denio, Nevada. A historical exploration program tested a portion of the 1.5-kilometer strike length on the property. Previous operators have conducted historical drilling on the property which identified a Middle Miocene gold system that shares similarities with the Sleeper vein deposit which is 85 kilometers southeast of the property.
The Cooks Creek project is eight miles west of Barrick Gold’s Pipeline mine and is adjacent to the Cortez and Cortez Hills deposits, which contain over 25 million ounces of gold. NV Gold has intersected 21.3 meters grading 2.32 g/t gold at the Main zone in 2016. Samples from the Dinner zone returned up to 2.45 ppm gold.
The Baker Spring project is a sediment-hosted, Carlin-style gold project located 12 miles north of Newmont’s Long Canyon mine, which contains a mineral reserve of 1.2 million ounces of gold grading 2.31 g/t gold. The Baker Spring project remains undrilled to date.
The Seven Devils project is 55 miles south of Winnemucca, Nevada. Widespread gold has been identified on the project, grading up to 2.6 g/t gold over a 3.3-kilometer strike length.
The Larus project is 23 miles northwest of Eureka, Nevada, 30 miles southeast of Barrick Gold’s Cortez Hills mine, two miles northwest of General Moly’s (TSX:GMO) Mt. Hope molybdenum deposit and six miles east of the Gold Bar district. Previous operators recovered values of 3.2 g/t gold on the property and delineated a strike length of approximately 4,000 feet.
Silicified Ov black shale from megabreccia below detachment fault 1.495 ppm
The Gold Cloud project is 17 miles south of Barrick Gold’s Ruby Hill gold mine in the Eureka mining district. The property has seen limited historical exploration where anomalous gold values were traced for 2,300 feet along a 6,000-foot system. Values of 2.8 g/t gold have been recovered on the property.
The Queens project is eight miles southeast of Kinross’ Round Mountain gold mine and five miles northeast of the Manhattan gold district. Approximately 500 meters of historical shallow drilling was completed in the early 1990s. Results include 23 meters grading 0.793 g/t gold, 17 meters grading 0.462 g/t gold and 14 meters grading 0.530 g/t gold.
The Long Island project is 12 miles southeast of Kinross Gold’s (TSX:K) Round Mountain gold deposit and 6.5 miles east of the Manhattan gold district. The property has seen limited historical exploration to date and hosts anomalous gold, arsenic and mercury values.
The Oasis project is located within the Goldfield mining district, which has produced 4 million ounces of gold in the Walker Lane Belt. NV Gold has recovered a surface gold sample that graded 6 g/t gold.
Centerra Gold (TSX:CG) completed a drill program on the property in 2010 and 2011. Results from the program include 96.1 meters grading 0.26 g/t gold, 30.5 meters grading 0.40 g/t gold and 169.2 meters grading 0.22 g/t gold.
The gold mineralization on the property correlates with copper, molybdenum, tin, potassium, potassium alteration and a-type quartz veinlets. There is potential to expand the copper-gold system at depth and to the south.
NV Gold is acquiring the Slumber gold property located in the Jackson Mountains. The property is approximately 50 miles northwest of Winnemucca, Humboldt County and 21 miles west of the Sleeper gold deposit.
The Slumber project is one of several high-grade epithermal gold systems on trend with the western splays and associated fault-fracture zones throughout the Jackson Mountains, Bilk Creek Mountains and up into Oregon. The splays and fault zones host numerous deposits, including Sleeper, Sulphur-Hycroft, Goldbanks, Blue Mountain and Sandman, among others.
To date, NV Gold has completed an initial exploration program at Slumber comprised of mapping, sampling and two geophysical surveys. Through the program, the company has identified a large hidden structural gold target that coincides with a 2,000-meter-long by 300-meter-wide magnetic low. NV Gold intends to follow up on the anomaly with a 1,200-meter drill program.
Mr. Watson has over 45 years experience in the mineral resource industry. Mr. Watson is the Founder of the Company and served as Chairman and CEO from 2009 through 2017 and Chairman since 2017. From 2002 to 2007, Mr. Watson was the President of Pan-Nevada Gold Corporation which, prior to the completion of its plan of arrangement with Midway Gold Corp. effective April 13, 2007, was a TSX Venture Exchange listed company focused on the acquisition, exploration and expansion of advanced stage gold projects in Nevada. Pan-Nevada performed extensive exploration and resource expansion of the Pan Project in Nevada, now in production. From 1979 to 1993, Mr. Watson was the President and CEO of Horizon Gold Corporation, which was listed on NASDAQ from 1986 to 1993. Horizon Gold Corporation built and operated two open pit, heap leach mines in Nevada during the period from 1985 to 1992. Mr. Watson holds a B.A. in Geology from the University of Texas and an M.Sc. in Mineral Economics from the Colorado School of Mines.
John Seaberg has held several executive roles within the mining industry throughout his career. Since September, 2021, he has been CFO of Condor Gold plc. From July 2019 to June 2021, he was the Senior Vice President and CFO of Calibre Mining. Prior to Calibre, he was the Executive Chairman of Paramount Gold Nevada Corp. He was previously Senior Vice President of Strategic Relations at Klondex Mines Ltd. In this role he was responsible for global investor relations and corporate development initiatives as an acting member of the senior executive team. Prior to Klondex, John was employed for more than 12 years by Newmont Mining Corporation where he last held the position of Vice President, Investor Relations. He has a Bachelor of Science Business Administration (BSBA) degree from Colorado State University and a Masters of BusinessAdministration (MBA) from the University of Denver.
Mr. Golden brings over 40 years of experience in the mining industry, across six continents. He has held senior executive roles with some of the largest mining operators in the world and played a pivotal role in the discovery of the Syama, Oyu Tolgoi, Agbaou and West Musgrave ore deposits. Prior to assuming his current role leading ASX listed Arrow Minerals Ltd, Mr. Golden was the Global Exploration Manager for Nordgold, with projects spanning across Africa, South America, Canada and Russia. Mr. Golden also held the role of General Manager, Exploration of Rio Tinto, responsible for discovering and acquiring resources in Central and West Africa. Prior to Rio Tinto, he spent three years as Regional Director of Exploration at Kinross Gold Corporation in Russia, where amongst other tasks, he was responsible for increasing the company’s gold reserves through the discovery, identification, acquisition, and economic evaluation of gold deposits in Russia. He also held the role of Chief Geophysicist of WMC Resources in Australia and was Principal Geoscientist for BHP Minerals for 18 years. Mr. Golden has a proven global track record of leading multi-disciplined exploration programs in different climates, conditions and regulatory regimes.
Alfred (Alf) Stewart has a career spanning over 40 years in the resource and investment industries. His career includes time spent as a geologist, stock exchange regulator, investment banker, analyst and investment advisor. He has worked for firms such as Bank of Montreal, Esso Minerals, Erickson Gold Mining, Canaccord Capital, Haywood Securities, Golden Capital and Raymond James. He has been involved in financing mining companies for over two decades, including discoveries in the base and precious metals sectors.
John Watson has over 30 years of experience in the mineral resource industry. From 2002 to 2007, he was the President of Pan-Nevada Gold Corporation which, prior to the completion of its plan of arrangement with Midway Gold Corp. effective April 13, 2007, was a TSXV-listed company focused on the acquisition, exploration and expansion of advanced-stage gold projects in Nevada. From 1979 to 1993, Watson was the President and CEO of Horizon Gold Corporation, which was listed on NASDAQ from 1986 to 1993. Horizon Gold Corporation built and operated two open-pit, heap leach mines in Nevada during the period from 1985 to 1992. Currently, he is a director of Prospero Silver Corp., a TSXV-listed company operating in Mexico. He holds a B.A. in Geology from the University of Texas and an M.Sc. in Mineral Economics from the Colorado School of Mines.
Thomas Klein brings over 25 years of distinguished global exploration experience. He has made very important contributions to multiple gold discoveries and/or project advancements in the USA, South America, West Africa, and the Middle East, and has spent the last decade exploring and generating exploration opportunities for Newmont Mining in Nevada. Klein discovered the Kupfertal Cu-Au Porphyry in Peru, is credited as the co-discoverer of the Amulsar Gold Deposit in Armenia, holds a Masters in Mineralogy from Ruprecht-Karls University in Heidelberg, Germany, and is a Member of the Geological Society of Nevada.
Ron Schmitz is the Principal and President of ASI Accounting Services Inc., which has provided administrative, accounting and office services to public and private companies since July 1995. He has served as a Director and/or Chief Financial Officer of various public companies since 1997, and currently holds these positions with various public and private companies.
Peter Ball brings over 25 years of experience as a mining professional at all levels of leadership. Throughout his career, he has held various senior management roles with international precious metals mining companies in corporate finance, securities trading, mine engineering, business development, corporate communications, public relations and marketing functions throughout North and South America, Asia and Europe.
Ball began his career in the late 1980s working as a mining engineer, a technical representative and in various management and senior executive roles for numerous companies including Redstar Gold, Columbus Gold, Hudson Bay Mining & Smelting, Echo Bay Mines Ltd., RBC Dominion Securities, Eldorado Gold Corp., Adriana Resources Inc. and Argentex Mining Corp. He is a graduate of the Haileybury School of Mines, Georgian Business College, UBC’s Canadian Securities Course and is a member of CIMM.
Dr. Quinton Hennigh is currently Chairman and former CEO of Novo Resources Corp., a Canadian corporation actively exploring for gold in Western Australia. Prior to founding Novo, he was the President of Exploration and Chief Geologist of Evolving Gold Corporation. He is credited with the discovery of the Rattlesnake Hills deposit in Natrona County, Wyoming. From May 2007 to March 2008, he was the Vice-President of Exploration for Evolving Gold Corp. From May 2004 to March 2007, he served as Senior Research Geologist with Newmont Mining Corporation.
Dr. Hennigh has worked throughout North America, in Europe, Australia, Asia and South America with several mining companies and has spent years developing regional concepts for the exploration for buried gold deposits, particularly in Nevada. He holds a Bachelor of Science from the University of Missouri and an MSc. and Ph.D. from the Colorado School of Mines. He is a member of the Society of Economic Geology and of the Mining and Metallurgical Society of America.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") is pleased to announce that subject to regulatory approval, it has retained the services of Robert Ferguson of Freeform Communications Inc. ("Freeform") of Vancouver, BC, to provide various investor relations, communications and consulting services for, and on behalf of, the Company in connection with the Company's interactions with shareholders, media and members of the investment community. The retainer is for a period of one year
Mr. Ferguson is the president and CEO of Freeform Communications Inc, a Vancouver based Investor Relations firm which was founded 1992 and has acted on behalf of numerous public companies and has assisted in building awareness and providing on going Investor Relations services.
In consideration for such services, NV Gold has agreed to pay fee of $4,000 per month plus GST/HST. In addition, in connection with his appointment the Company has granted Freeform/Robert Ferguson an option to acquire 250,000 common shares of the Company at $0.075 per share, exercisable for a period of two years but subject to vesting of 1/4th of the options every three months, with the initial 1/4th of the options vesting on the 3-month anniversary of the grant. The Company will pay for the services of Freeform from its unallocated working capital.
The appointment of Freeform is subject to the requisite filings with and acceptance of the TSX Venture Exchange and applicable securities laws.
NV Gold (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) is a well-financed exploration company with ~80 million shares issued, a solid treasury and no debt. The Company is based in Vancouver, British Columbia, and Reno, Nevada and is focused on delivering value through mineral discoveries in Nevada, USA. Leveraging its expansive property portfolio, its highly experienced in-house technical team, and its extensive geological data library, 2022 promises to be highly productive for NV Gold.
On behalf of the Board of Directors,
John Seaberg, Director, and CEO
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
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.
News Provided by ACCESSWIRE via QuoteMedia
NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") is pleased to announce that the Company has completed four Reverse Circulation ("RC") holes totaling 1,600 feet (487.7m) at the Sandy Project and has initiated a first-stage two to four-hole drilling program at the Pickhandle Gold Project in Lander County, Nevada ("Pickhandle
About the Pickhandle Gold Property
Thomas Klein, VP Exploration commented, "I am pleased that NV Gold's drilling campaign is continuing with drill-testing the Pickhandle Gold Project at Carico Valley, Nevada. It is of special importance that Pickhandle has never been drilled. Pickhandle has the right structural complexity, "Carlin-type" ingredients, and is in an excellent neighborhood to the Cortez and Pipeline gold deposits. Our other active projects are standing in line to be drilled after Pickhandle and I am excited to continue with NV Gold's aggressive multi-project drilling campaign in Nevada (see Figure 3)"
Figure 1 - Location of Pickhandle To view the full sized image, please click here
Figure 2 - Pickhandle Jasperoids and Pediment Target To view the full sized image, please click here
Figure 3 - Project Landholding Page To view the full sized image, please click here
NV Gold (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) is a well-financed exploration company with ~80 million shares issued, a solid treasury and no debt. The Company is based in Vancouver, British Columbia, and Reno, Nevada and is focused on delivering value through mineral discoveries in Nevada, USA. Leveraging its expansive property portfolio, its highly experienced in-house technical team, and its extensive geological data library, 2022 promises to be highly productive for NV Gold.
On behalf of the Board of Directors,
John Seaberg, Director and CEO
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
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 includes certain forward-looking statements or information. 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 regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals, The Company disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
News Provided by ACCESSWIRE via QuoteMedia
NV Gold Corporation (TSXV:NVX) (OTC PINK:NVGLF) ("NV Gold" or the "Company") is pleased to announce its intended plans for the 2022-2023 exploration and drilling program for its six highest priority projects in Nevada. The Company has secured a drill rig and has initiated drilling at its Sandy Project
Additionally the Company is in the process of completing a detailed strategic analysis and field investigation of the 31 targets identified by Goldspot Discoveries Corp's ("Goldspot") review of NV Gold's Data Library using its proprietary AI technology (see press release dated August 11, 2022 on the Company's website at www.nvgoldcorp.com). This review is intended to identify longer term prospective projects to continuously add to NV Gold's project pipeline. NV Gold holds one of the largest, most prolific land packages in Nevada, arguably the best gold mining jurisdiction in the World.
Highlights of the exploration programs by project are as follows:
Thomas Klein, VP Exploration commented, "I am excited about the exploration program we have in front of us. For the past two years, it has been challenging to engage drill rigs in Nevada with qualified teams. We are fortunate to have recently engaged Envirotech to commence our 2022-2023 exploration program. We have priority targets on several projects and expect significant field activity with respective news flow over the course of the next several months. I am optimistic that we could have several significant discoveries. Additionally, the targets identified by Goldspot provides a portfolio of high potential targets to add to our already large land package in Nevada."
John Seaberg, NV Gold's Chief Executive Officer added, "NV Gold is at a pivotal juncture in its evolution. We have amassed a significant portfolio of high priority gold properties in Nevada and are excited to test their potential, many of which have never been drilled before. We will be very active over the course of the next several months as we begin to unlock the hidden value of these properties.
Diagram one- Project Landing Page
About NV Gold Corporation NV Gold is a junior exploration company based in Vancouver, British Columbia that is focused on making significant gold discoveries in Nevada through well-planned and executed exploration activities. The Company aims to quickly evaluate and advance mineral opportunities to drill-ready stage utilizing its widely recognized and experienced technical team and its extensive historical data.
On behalf of the Board of Directors,
John Seaberg Chief Executive Officer
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
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.
Forward Looking Statements This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company's identification of new target areas, the potential of these targets, the timing and extent of exploration activities and the anticipated outcome, are forward-looking statements that involve various risks and uncertainties. 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 regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals, the extent to which mineralized structures extend on to the Company's Projects, the extent to which other promising geological features predict mineral deposits and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
News Provided by ACCESSWIRE via QuoteMedia
NV Gold Corporation (TSXV:NVX)(OTC PINK:NVGLF) ("NV Gold" or the "Company") is pleased to announce the finalization of the strategic data analysis (The Data Library Project) by GoldSpot Discoveries Corp. ("GoldSpot") (SPOT
NV Gold's Data Library consists of multiple data compilations, covering Nevada and elsewhere, including extensive proprietary exploration files created by AngloGold, USMX, Canyon Resources and others. Multiple significant regional geological, geochemical, and geophysical exploration programs generated this data, comprised of over 40 years of effort, and at a historical cost in excess of US$20 million.
Goldspot handled the legacy data inventory reviewing 241 file boxes and large numbers of rolled maps that were stored in NV Gold's warehouse in Reno, Nevada. A total of 1,186 individual files were scanned and the georeferenced maps were sorted by their designated county.
Data extracted from the scanned documents included:
One of the most effective data layers for gold targeting is the surface rock samples. GoldSpot evaluated areas peripheral to each anomalous rock sample noting its host, its exploration potential and generating ranked exploration targets. The targets were ranked on the published geology of the areas and on other proprietary criteria.
In total, GoldSpot identified 31 targets which were categorized and ranked, to be evaluated by NV Gold's technical team.
"I am excited about the outcome of this data analysis and the results presented by GoldSpot and their technical team. It has been our plan to get NV Gold's extensive geological databases into a digital format, homogenized and analyzed. The Company now has a cutting-edge advantage over other explorers in Nevada, and NV Gold will look forward to analyzing and potentially to adding new highly prospective properties with discovery potential to our Exploration Pipeline." commented Thomas Klein, VP Exploration of NV Gold.
GoldSpot Discoveries Corp. (SPOT) is a technology and investment company that leverages machine learning to reduce capital risk while working to increase efficiency and success rates in resource exploration and investment. GoldSpot Discoveries combines proprietary technology with traditional domain expertise, offering a front-to-back service solution to its partners, and in some cases, capital to initiate exploration programs. GoldSpot's solutions target big data problems, making full use of historically unutilized data to better comprehend resource property potential.
John Watson, NV Gold's Chairman added, "Historical data can be of great value for many reasons. New geologic models continue to evolve and historical results can illuminate new concepts that can lead to new discoveries. Knowledge of previous work can save many man-hours and avoid duplication of field effort, thus making exploration expenditures more focused and efficient. SPOT's analysis should lead to efficient evaluation of priority areas and add promising new projects."
NV Gold is a junior exploration company based in Vancouver, British Columbia that is focused on making significant gold discoveries in Nevada through focused exploration activities. The Company aims to quickly evaluate and advance mineral opportunities to drill-ready stage utilizing its widely recognized and experienced technical team and its extensive historical data.
On behalf of the Board of Directors, John Seaberg Chief Executive Officer
For further information, visit the Company's website at www.nvgoldcorp.com or contact:
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 includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company's identification of new target areas and other planned exploration activities, are forward-looking statements that involve various risks and uncertainties. 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 regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals, the extent to which mineralized structures extend on to the Company's Projects and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
News Provided by ACCESSWIRE via QuoteMedia
NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company") is pleased to announce the appointment of Mr. John Seaberg as the Company's new Chief Executive Officer
Mr. Seaberg has held several executive roles within the mining industry throughout his career. Since September, 2021, he has been CFO of Condor Gold plc. From July 2019 to June 2021, he was the Senior Vice President and CFO of Calibre Mining. Prior to Calibre, he was the Executive Chairman of Paramount Gold Nevada Corp. He was previously Senior Vice President of Strategic Relations at Klondex Mines Ltd. In this role he was responsible for global investor relations and corporate development initiatives as an acting member of the senior executive team. Prior to Klondex, John was employed for more than 12 years by Newmont Mining Corporation where he last held the position of Vice President, Investor Relations. He has a Bachelor of Science Business Administration (BSBA) degree from Colorado State University and a Masters of BusinessAdministration (MBA) from the University of Denver.
John Watson, NV Gold's Chairman commented - "I am very pleased to introduce Mr. Seaberg as NV Gold's new CEO. His breadth of experience is well-suited to lead our Company into the future. John's strong background in finance and investor relations, combined with his industry reputation will be pivotal to achieving the Company's goals. NV Gold is pursuing an aggressive exploration strategy designed to take advantage of its significant Nevada property portfolio."
Concurrent with Mr. Seaberg's appointment as CEO, Mr. Seaberg has been appointed to the Company's Board of Directors and John Watson will resume being just the Chairman of the Company.
In addition, the Company has granted 3,100,000 stock options to directors and officers of the Company, each option entitling the holder to purchase one common share of the Company at C$0.10 per share for five years.
On behalf of the Board of Directors,
For further information, visit the Company's website at www.nvgoldcorp.com or contact: Freeform Communications at 604.245.0054
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.
News Provided by ACCESSWIRE via QuoteMedia
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") announced today a non-brokered private placement of flow-through units (the "FT Units") for gross proceeds of up to $750,000 (the "Offering"). The Offering will be available to Canadian accredited investors. Red Cloud Securities Inc. of Toronto, Ontario, has agreed to act as a finder for ALX on a "best efforts" basis for the Offering.
Up to 15,000,000 FT Units will be offered at a price of $0.05 per FT Unit consisting of one flow-through common share and one half of one non flow-through common share purchase warrant, One whole common share purchase warrant from the FT Units will entitle the holder to purchase one non flow-through common share of the Company at a price of $0.075 for a period expiring 36 months following the closing date of the Offering.
Finder's fees will be payable to Red Cloud and other qualified finders in connection with the Offering consisting of 6.0% cash and 6.0% finder's warrants, with each finder's warrant exercisable at price of $0.05 for a period expiring 36 months following the closing date of the Offering. All the securities issuable will be subject to a four-month hold period from the date of closing, which is expected to occur on or about October 31, 2022.
Proceeds from the sale of FT Units will be used for exploration programs on the Company's Quebec, Saskatchewan, Ontario and Nova Scotia mineral exploration properties. The Offering is subject to acceptance by the TSX Venture Exchange.
ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF".
ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include uranium, lithium, nickel-copper-cobalt and gold projects. The Company uses the latest exploration technologies and holds interests in over 220,000 hectares of prospective lands in Saskatchewan, a stable Canadian jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, and production from base metals mines, both current and historical.
ALX's uranium holdings in northern Saskatchewan include 100% interests in the Gibbons Creek Uranium Project,the Sabre Uranium Project and the Javelin and McKenzie Lake Uranium Projects, a 40% interest in the Black Lake Uranium Project (a joint venture with Uranium Energy Corporation and Orano Canada Inc.), and a 20% interest in the Hook-Carter Uranium Project, located within the uranium-rich Patterson Lake Corridor with Denison Mines Corp. (80% interest) as operator of exploration since 2016.
ALX owns 100% interests in four lithium exploration properties staked in September 2022 collectively known as the Hydra Lithium Project, located in the James Bay region of northern Quebec, Canada, and a 100% interest in the Anchor Lithium Project in Nova Scotia, Canada.
ALX also owns 100% interests in the Firebird Nickel Project (now under option to Rio Tinto Exploration Canada Inc., who can earn up to an 80% interest), the Flying VeeNickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, the Vixen Gold Project (now under option to First Mining Gold Corp., who can earn up to a 100% interest in two stages), and in the Draco VMS Project in Norway.
For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at: PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxresources.com.
On Behalf of the Board of Directors of ALX Resources Corp.
Warren Stanyer, CEO and Chairman
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/140124
News Provided by Newsfile via QuoteMedia
Peruvian Metals Corp. (TSXV: PER) (OTCQB: DUVNF) ("Peruvian Metals" or the "Company") is pleased to provide an update regarding the mineral processing at its 80-per-cent-owned fully permitted Aguila Norte processing plant ("Aguila Norte" or the "Plant") located in Northern Peru.
During the third quarter of 2022, the Plant processed 6,871 tonnes for an accumulative total for 2022 of 21,757 tonnes. The 2022 year-to-date production represents an increase of 10% compared to the same period for 2021. Production during the month of September was lower compared to the previous months due to scheduled maintenance and replacing several key components of the mill. The Plant is now fully operational and processing material and production for the fourth quarter is expected to exceed previous quarters.
Jeffrey Reeder, Chief Executive Officer of Peruvian Metals, commented: "We are pleased that we are on track to achieve a record processing year in 2022 at Aguila Norte. We continue to improve the financial position of the Company during these difficult markets without share dilution. We are continuing to review our wholly owned properties with the intention to process our own resources of mineral."
The Aguila Norte processing plant has an environmental permit ("IGAC") from the Peruvian government which provides the Company with the ability to expand operations past the current 100 tonnes per day level. 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.
Peruvian Metals Corp. is a Canadian Exploration and Mineral Processing company. Our business model is to provide toll milling services for clients and to produce high grade concentrates from mineral purchases. The Company continues to acquire and develop precious and base metal properties in Peru.
For further information on Peruvian Metals Corp. please visit www.peruvianmetals.com.
Peruvian Metals Corp. is a Canadian resource company listed on the TSX Venture Exchange : Symbol "PER" For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290 Website: www.peruvianmetals.com Email: jeffrey.reeder@peruvianmetals.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.
Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. We use words such as "might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar terminology to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions, and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/140097
News Provided by Newsfile via QuoteMedia
Ongoing drill program at Palos Verdes halfway completed
Prismo Metals Inc. (CSE: PRIZ) (OTCQB: PMOMF) (the "Company" or "Prismo") is pleased to provide an update on the current drill program at its Palos Verdes project, located in the historic Panuco-Copala district of the state of Sinaloa, Mexico. The program has drilled a total of 1,062 meters to date out of a planned minimum of 2,000 metres. The Company expects to complete the minimum target of 2,000 metres in early November. The Palos Verdes property is contiguous to the Panuco silver-gold project of Vizsla Silver Corp.
The drilling 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 Corp. on their adjacent land package. Three holes have been completed and one hole is in progress.
Drill hole data for holes from the ongoing program:
*Depth as of Oct 10, 2022. Coordinates in UTM WGS84 using handheld Garmin GPS.
The first drill hole of the season, PV-22-11, intersected a large fracture zone that is believed to correspond to the shear zone recognized during surface mapping carried out previously. The fracture zone offsets the Palos Verdes structure and the first hole cut mineralized quartz veinlets in the footwall of the main structure. As a result, the orientation of the shear zone is now better defined and provides important information for future drilling of the vein system to the east of the fault zone.
Cross section through holes PV-22-11 and PV-22-12 showing interpreted Palos Verdes structure and offsetting fault.
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/7434/140095_4cf28ea0e41cdbf8_002full.jpg
The second and third holes of the current program, PV-22-12 and PV-22-13, each cut a wide structural zone with several discrete multistage quartz veins separated by altered andesite wallrock with variable quartz veinlets and local zones of sheared rock with relatively sulfide-rich stages of mineralization. The structural zone in hole PV-22-12 measured 29 meters along the core, and that in hole PV-22-13 measured 36 meters downhole.
Cross section through hole PV-22-13 showing interpreted Palos Verdes structure.
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/7434/140095_4cf28ea0e41cdbf8_003full.jpg
Longitudinal vein projection showing assays from selected rock samples and drill intercepts as well as drill intersections from the current program (no assays) and planned intersections.
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/7434/140095_4cf28ea0e41cdbf8_004full.jpg
"In our past drilling campaigns and with holes PV-22-12 and PV-22-13, the sample protocol was focussed on the wider discrete quartz veins and did not include assays of samples from the wallrock with veinlets. The initial sampling of the current drilling campaign included about 13 meters in hole PV-22-12 and 18 meters in hole PV-22-13 within the wider structural zones," said Prismo President and CEO Craig Gibson.
He added: "After careful analysis of Vizsla Silver Corp.'s latest results from the Copala vein announced in their news release of September 12, 2022, showing significant mineralization over wide structural zones, including in wallrocks with quartz veinlets, we have decided to modify our protocol to sample the entire intercept of the structural zone in the same fashion as Vizsla Silver Corp. Accordingly, Prismo is sending to lab, in addition to samples already sent, about 30 meters of additional core from holes PV-22-12 and PV-22-13 as well as about 30-50 meters from the 2018 and 2020 drilling campaigns. These will be sent to the lab for analysis along with samples from the fourth hole, when completed. We expect to release the results of all these assays at the same time, once analyzed, in late October."
The true width of the reported intercepts is believed to be about 60% of the reported downhole lengths, and are about 50 to 75 meters below previous shallow drilling that had several high grade intercepts, with the best being 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 releases dated September 30 and December 20, 2020)
Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations and President, CEO and a director of the Company, has reviewed and approved the technical disclosures in this news release.
The Palos Verdes project is located in the historic Pánuco-Copala silver-gold district in southern Sinaloa, Mexico, approximately 65 kilometers NE of Mazatlán, Sinaloa, in the Municipality of Concordia. The Palos Verdes concession (claim) covers 700 meters of strike length of the Palos Verdes vein, a member of the north-easterly trending vein family located in the eastern part of the district outside of the area of modern exploration. Shallow drilling (see table of intercepts at www.prismometals.com). This mineralization is open in all directions and the currently planned drilling program is designed to follow it along strike and to depth.
The Palos Verdes property is contiguous to the Panuco silver-gold project of Vizsla Silver Corp. The current 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.
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
Neither the Canadian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact, including without limitation, statements regarding the anticipated content, commencement and exploration program results, the ability to complete future financings, required permitting, exploration programs and drilling, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the commodity markets generally, variations in the nature, the analytical results from surface trenching and sampling program, including diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including CSE acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the potential impact of COVID-19 (coronavirus) on the Company's exploration program and on the Company's general business, operations and financial condition, and other risks and uncertainties. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/140095
News Provided by Newsfile via QuoteMedia
Table 1: Key Operational and Financial Figures 3
Novo Resources Corp. ( "Novo" or the "Company" ) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) provides a 2022 third quarter (" Q3 2022 ") operational update for the Beatons Creek gold project (" Beatons Creek ") and Golden Eagle processing facility (" Golden Eagle Plant "), located in Nullagine, Western Australia.
During Q3 2022 and year-to-date 2022, Novo did not record any lost time injuries.
COVID-19 continues to impact the Company's cost profile. While mandatory COVID-19 isolation requirements are being eased by the Australian government effective October 14, 2022, supply chain issues are resulting in elevated costs, particularly with respect to fuel and other consumables. Best efforts have been made to mitigate the impacts of the pandemic through the adoption of sound risk management processes. The Company intends to manage such impacts but remains cautious that they may affect all aspects of the Company's business, including exploration activities.
During the final quarter of current operations at Beatons Creek before the pause in operations, approximately 193 kt of mineralized material were mined from the Golden Crown and Edwards areas. Backfilling of the Grant's Hill pit has been completed in compliance with environmental requirements for the pause in operations 1 . Preliminary reshaping of waste landforms has commenced and rehabilitation works of recent drilling areas will continue.
The Golden Eagle Plant processed approximately 405 kt in Q3 2022, with an average head grade of 1.03 g/t Au.
Gold production totalled 13,137 ounces and recovery rates of approximately 90.7% were achieved in Q3 2022.
Q3 2022 gold sales totalled 12,426 ounces of gold and 1,336 ounces of silver for gross revenue of C$28.0 million (A$31.4 million) 3 . Throughout Phase One operations at Beatons Creek, Novo has sold its gold in Australian dollars to ABC Refinery of Sydney, Australia and enjoyed strong gold price performance in Australian dollar terms.
The Company expects to sell an additional 1 koz Au in Q4 2022 as gold is stripped from carbon and Beatons Creek transitions to an operational pause 2 .
Novo is preparing a reply to the appeal received in response to the Western Australian Environmental Protection Authority's decision to not assess the Company's submission regarding proposed Phase Two operations of the Fresh mineral resource at Beatons Creek 5 . The Company continues to engage with relevant regulatory authorities to seek approval to mine the Beatons Creek Fresh mineral resource and expects to make a final investment decision post receipt of results of the mineral resource update and feasibility study which are expected in Q4 2022 4 .
Drilling continues across priority gold and battery metal targets at Purdy's North and the Becher area in the Pilbara region of Western Australia 6 . The Company will provide an exploration update in early November 2022.
Novo's cash balance as at September 30, 2022 was C$65.3 million 3 and, as previously reported, Novo is free of long-term debt 7 .
In addition to its existing cash reserves, the Company has an investment portfolio with a fair value of approximately C$20.5 million as at September 30, 2022 8 .
Dr. Quinton Hennigh (P.Geo.) is the qualified person, as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects , responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is the non-executive co-chairman and a director of Novo.
The decision by the Company to produce at Beatons Creek was not based on a feasibility study of mineral reserves demonstrating economic and technical viability and, as a result, there was an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Production did not achieved forecast. Historically, such projects have a much higher risk of economic and technical failure. There was no guarantee that anticipated production costs would be achieved. Failure to achieve the anticipated production costs had a material adverse impact on the Company's cash flow and future profitability.
The Company cautions that its declaration of commercial production effective October 1, 2021 9 only indicated that Beatons Creek was operating at anticipated and sustainable levels and it did not indicate that economic results would be realized.
Novo explores and develops its prospective land package covering approximately 10,500 square kilometres in the Pilbara region of Western Australia, including the Beatons Creek gold project, along with two joint ventures in the Bendigo region of Victoria, Australia. In addition to the Company's primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com.
On Behalf of the Board of Directors,
Executive Co-Chairman & Acting CEO
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, that an additional 1,000 oz Au are estimated to be sold in Q4 2022, the Company's cash balance of C$65.3 million will support ongoing and extensive exploration programs and completion of the Beatons Creek mineral resource estimate update and feasibility study, the Company intends to manage the impacts of COVID-19, the Company is preparing a response to the appeal received regarding the Western Australian Environmental Protection Authority's decision to not assess the Company's submission regarding proposed Phase Two operations of the Fresh mineral resource at Beatons Creek, the Company continues to engage with relevant regulatory authorities to seek approval to mine the Beatons Creek Fresh mineral resource and expects to make a final investment decision post receipt of results of the mineral resource update and feasibility study which are expected in Q4 2022, and that the Company will provide an exploration update in early November 2022. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the resource industry and the risk factors identified in Novo's management's discussion and analysis for the six-month period ended June 30, 2022, which is available under Novo's profile on SEDAR at www.sedar.com. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, Novo assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If Novo updates any forward-looking statement(s), no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements.
1 Refer to the Company's news release dated July 6, 2022 . 2 Refer to the Company's news release dated June 14, 2022 . 3 These financial figures are unaudited and may differ from final results due to foreign exchange and rounding differences. 4 Refer to the Company's news release dated June 14, 2022 . 5 Refer to the Company's news release dated August 8, 2022 . 6 Refer to the Company's news release dated September 6, 2022 . 7 Refer to the Company's news release dated August 12, 2022 . 8 This value excludes the fair value of warrants held in GBM Resources Ltd. and other immaterial investments. The value of Novo's holdings in Elementum 3D, Inc. (" E3D ") is based on E3D's most recent financing price of US$8.00 per unit. Except for its investment in E3D and certain other immaterial investments, the fair value of Novo's investments is based on closing prices of its investments and relevant foreign exchanges rate as at September 30, 2022. 9 Refer to the Company's news release dated October 12, 2021 .
News Provided by GlobeNewswire via QuoteMedia
Endeavour Silver Corp. ("Endeavour" or the "Company") (NYSE: EXK; TSX: EDR) ("Endeavour" or the "Company") is pleased to report third quarter 2022 production of 1,458,448 silver ounces (oz) and 9,194 gold oz, for silver equivalent 1 ("AgEq") production of 2.2 million oz, totalling 6.3 million AgEq oz for the 9 months ended September 30, 2022. Annual production is trending towards the upper end of the guidance range for the year, forecasted at 7.6 to 8.0 million AgEq oz.
"The ore grades processed at Guanacevi continue to exceed plan, which has positioned the Company to meet the upper end of our improved production guidance. The outperformance is well timed, as we continue to face financial pressure from lower metal prices and inflationary effects on inputs," stated Dan Dickson, Chief Executive Officer. "We announced impressive drill results from our exploration program in the quarter at Guanacevi, where we are extending and defining the vertical extents of the Porvenir Dos orebody, which is near historic working areas."
Consolidated silver production increased 12% to 1,458,448 ounces in Q3 2022 compared to Q3 2021, primarily driven by increased silver production at the Guanacevi mine. The high grades at the El Curso orebody have led to improved production, allowing for production targets to be met during a period of decreased plant throughput. Local third-party ores continued to supplement mine production, amounting to 12% of quarterly processed tonnes and contributing to higher ore grades. Guanacevi throughput was 4% higher than the prior quarter but lower than plan, due to heavy rainfall in a short, concentrated period during September. Management continues to review alternatives to further increase throughput above the current 1,200 tpd capacity with changes in grinding size and leach time.
Gold production decreased by 13% to 9,194 ounces primarily due lower gold grades mined at the Bolañitos mine. The increased gold production from Guanacevi offset the gold produced from the El Compas mine, which suspended operations in Q3, 2021.
Bolañitos Q3 2022 throughput was 3% lower Q3 2021 with silver grades 5% higher and gold grades 5% lower. Silver production increased by 2% while gold production decreased by 11% at the Bolañitos mine. The change in grades were due to typical variations in the ore body.
Production Highlights for the Three and Nine Months Ended September 30, 2022
Mine-by-mine production in the third quarter and the nine months ended September 30 was:
Production Tables for Q3 2022 by Mine (1)
Production Tables for the Nine Months Ended September 30, 2022 by Mine (1)
Q3 2022 Financial Results and Conference Call
The Company's Q3 2022 financial results will be released before markets open on Tuesday, November 8, 2022 and a telephone conference call will be held the same day at 10:00 a.m. PT / 1:00 p.m. ET. To participate in the conference call, please dial the numbers below.
About Endeavour Silver – Endeavour 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 to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.
Contact Information: Galina Meleger, VP, Investor Relations Email: gmeleger@edrsilver.com Website: www.edrsilver.com
Follow Endeavour on Facebook , Twitter , Instagram and LinkedIn .
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States private securities litigation reform act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation (together, "forward-looking statements"). Such forward-looking statements and information herein include but are not limited to statements regarding future prospects of the Company's mines and projects. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Such factors include but are not limited to the ultimate impact of the COVID 19 pandemic on operations and results, changes in production and costs guidance, national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; financial risks due to precious metals prices, operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development and risks in obtaining necessary licenses and permits, and challenges to the Company's title to properties; as well as those factors described in the section "risk factors" contained in the Company's most recent form 40F/Annual Information Form filed with the Securities and Exchange Commission and available at www.sec.gov, and Canadian securities regulatory authorities available at www.sedar.com.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued exploration and mining operations, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management's expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
1 Silver equivalent calculated using an 80:1 silver:gold ratio.
News Provided by GlobeNewswire via QuoteMedia
Precious metals are rare, naturally occurring, metallic assets that have high economic value.
In the past, the precious metals market was important because these commodities were used as currency. Today, precious metals are considered valuable because of their investment and industrial uses.
But what is the best precious metal to invest in? Different investors have different needs, and it’s important to be aware of the factors that affect supply, demand and prices for each precious metal before making a financial decision.
Below is a quick overview of the gold, silver, platinum and palladium markets. Those four are the most popular of the precious metals, and all can be good investment choices. Read on to find out the ways to invest and what to know before you buy.
The best-known precious metals are gold and silver, and it’s not hard to see why they are good assets to add to an investment portfolio. Gold is a key material for jewelry, and is also used as a store of wealth by investors around the world. Indeed, many believe that it’s superior to any and all paper currencies.
Silver is also used as a store of wealth and in jewelry, but unlike gold bullion, it’s also subject to a fair amount of industrial demand. In other words, the metal is not only bought by investors, but also by manufacturers that then put it to use in various ways.
Silver trading is intriguing because those applications are incredibly varied — the white metal is used in batteries, electronic devices and as a catalyst to produce industrial chemicals, but it’s also found in medical devices and in the automotive industry.
Gold and silver prices are most heavily affected by global economic and political changes. Both metals are considered safe-haven investments, and tend to receive increased attention from investors in times of turmoil. If you believe that more tumultuous times are in store, you may want to consider owning gold and silver bullion as a hedge against these troubles.
Sister metals palladium and platinum are also well-known precious metals. Like silver and gold, both metals are used in jewelry and are bought by investors for portfolio diversification.
However, what they’re perhaps best known for is their use in the automotive industry, specifically in catalytic converters: palladium for gasoline engines, and platinum for diesel engines.
While platinum and palladium prices sometimes also move because of worldwide economic and political volatility, they are influenced more strongly by supply and demand dynamics. In recent years, higher demand and strikes at key mines have pushed the markets for both platinum and palladium into deficit.
Investors who chart these changes and think those circumstances will eventually result in higher platinum and palladium prices may want to consider owning these metals to make a profit.
For investors looking to flex some purchasing power in the precious metals space, there’s perhaps no time like the present. Luckily, those interested in gold, silver, platinum or palladium have myriad options in terms of how to buy into the precious metals space.
From investing in stocks and mutual funds, to purchasing an exchange-traded fund to physically buying precious metals coins, there are many ways to get involved in the space. All it takes is some research to determine which is the best fit.
As a final note, it’s worth being aware that while gold, silver, platinum and palladium are undeniably the most high-profile precious metals, other precious metals do exist. Rhodium and rhenium are two fairly common ones, with rarer examples being germanium and beryllium — getting exposure to these metals is more complex.
This is an updated version of an article originally published by the Investing News Network in 2017.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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.