Precious Metals

Gold79 Mines Ltd. announces that it has retained Dig Media Inc. dba Investing News Network to provide investor relations services for the Company in accordance with the policies of the TSX Venture Exchange. INN is a private company headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors since 2007. Under the terms of the contract for this advertising and investor ...

Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) ("Gold79" or the "Company") announces that it has retained Dig Media Inc. dba Investing News Network ("INN") to provide investor relations services for the Company in accordance with the policies of the TSX Venture Exchange. INN is a private company headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors since 2007. Under the terms of the contract for this advertising and investor awareness campaign INN will provide various digital media advertising and related services to increase public awareness of the Company.

Derek Macpherson, President and CEO, stated, "We look forward to working with INN to increase market awareness of Gold79. With active exploration programs continuing at our Gold Chain, Arizona project and with drill permitting nearing completion at our Jefferson Canyon, Nevada project we anticipate an exciting year ahead for Gold79."

Under the terms of the agreement with INN, the Company has agreed to pay INN a cash fee of $4,167 per month, plus applicable taxes. The agreement has a term of 12 months commencing January 1, 2022. INN will not receive any securities of the Company as compensation for services under the agreement. INN currently holds 833,400 common shares and 416,700 warrants of the Company, representing approximately 0.86% of the Company's outstanding common shares on a partially-diluted basis. Gold79 and INN are unrelated and unaffiliated entities and INN is an arm's length party to the Company.

About Gold79 Mines Ltd.

Gold79 Mines Ltd. is a TSX Venture listed company focused on building ounces in the Southwest USA. Gold79 holds 100% earn-in option to purchase agreements on three gold projects: the Jefferson Canyon Gold Project and the Tip Top Gold Project both located in Nevada, USA, and, the Gold Chain Project located in Arizona, USA. In addition, Gold79 holds two projects with minority interest being a 36.6% interest in the Greyhound Project, Nunavut, Canada under JV by Agnico Eagle Mines Limited and a 20% carried interest in the Taviche Project in Oaxaca, Mexico now under option to Fortuna Silver Mines Inc.

For further information regarding this press release contact: Derek Macpherson, President and Chief Executive Officer by email at dm@gold79mines.com or by phone at 416-294-6713. Gold79's website is located at www.gold79mines.com.

FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including any future private placements, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company's future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR at www.sedar.com. Gold79 does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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/108580

News Provided by Newsfile via QuoteMedia

auu:ca
Gold79 Mines

Gold79 Mines


Overview

Gold79 Mines (TSXV:AUU) is a resource development company focused on gold exploration properties in Nevada and Arizona. The company owns a trio of properties located in the renowned Walker Lane gold trend, the Jefferson Canyon project, the Tip Top project and the Gold Chain project.

3 Walker Lane Gold Trend Projects

Nevada’s Walker Lane gold trend is home to a number of past-producing gold mines including the Comstock lode, the Denton-Rawhide mine and the Paradise Peak mine. Nevada is recognized as one of the world’s most productive gold regions and was ranked as the third-best jurisdiction in terms of investment attractiveness according to the Fraser Institute’s 2019 mining survey.

Gold79 Mines’ Jefferson Canyon gold project is an early-stage exploration project located on the north side of the Walker Lane gold trend. The project is located only seven kilometers away from Kinross Gold Corporation’s (TSX:K, NYSE:KGC) Round Mountain mine, which has produced approximately 15 million ounces of gold.

Gold79 Mines’ Gold Chain project was home to historical exploration and production, which the company intends to expand upon with further exploration. The property hosts oxidized conditions that extend at least 100 meters below the surface, which Gold79 Mines believes could be conducive to gold recovery by leaching.

Gold79 Mines’ Tip Top gold project is comprised of 22 unpatented mining claims totaling 173 hectares. The project contains several low-sulfidation oxide gold-silver epithermal veins with low base metal contents. Two of the veins on the Tip Top project historically produced 6,900 ounces of gold, with some silver production as well. While the project has sat dormant for more than 20 years, the property has excellent road access and benefits from strong regulatory support through Nevada’s mining-friendly state government.

Facing economic uncertainty moving forward due to the COVID-19 pandemic, a number of analysts and investment companies have recognized the potential for gold investment to remain strong as a common economic hedge. For example, Hong Kong investment firm CLSA projects the commodity is expected to outperform the S&P 500 Index in 2020, according to Forbes.

Company Highlights

  • Gold expected to outperform the S&P 500 Index in 2020, according to Hong Kong investment firm CLSA
  • Nevada recognized as the third-most mining-friendly jurisdiction according to the 2019 Fraser Institute annual survey
  • Jefferson Canyon, Tip Top and Gold Chain projects have seen limited modern exploration, offering potential upside
  • Gold Chain, Jefferson Canyon and Tip Top projects are both located inside the Walker Lane gold trend
  • Jefferson Canyon project is located only seven kilometers away from the Kinross Round Mountain mine, which has produced 15 million ounces of gold
  • Strong management team brings years of experience in mineral exploration
  • Gold79 Mines purchased the Sheep Trail Group of patented claims and reported 51.9 g/t gold from Initial Sampling.

Project

Gold79 Mines’ Gold Chain Project

The Gold Chain project is located in Mohave County, Arizona near the Nevada border. The project is comprised of a combination of BLM and patented mining claims covering ~2,860 hectares where work has been conducted by previous operators, indicating the potential for gold mineralization across the project area. The Gold Chain project is home to several mineralized exposures over twelve kilometers, including epithermal-style gold mineralization. Limited mining was conducted on the property.

Recent drill results from the Gold Chain project include:

  • GC21-08 3.1m at 10.68 g/t Au at the Banner Mine
  • GC21-10 13.7m at 2.56 g/t Au at the Banner Mine
  • GC21-15 21.3m at 2.00 g/t Au at the Tyro Mine
  • GC21-14 29.0m at 1.3 g/t Au at the Tyro Mine
  • GC21-03 21.3m at 0.98 g/t gold at the Roadside Mine
Moving forward, Gold79 Mines intends to continue exploration on the Gold Chain property while working towards a potential Preliminary Economic Assessment (PEA) compliant with NI 43-101 standards.
Gold79 Mines\u2019 Gold Chain Oxide-Gold Project

Gold79 Mines’ Jefferson Canyon Project

The Jefferson Canyon gold-silver project is located in Nye County in Nevada, only nine kilometers away from the Kinross Round Mountain mine, which has produced approximately 15 million ounces of gold. The project contains a large volcanic-hosted epithermal gold-silver system that is similar in age to the Round Mountain deposit. The gold systems found on both properties are both hosted in felsic ash-flow tufts and contain a strong northwest-trending structural control to veins.

Gold79 Mines\u2019 Jefferson Canyon Project

The Jefferson Canyon property hosts a historical database that has been passed down from several exploration companies based on exploration campaigns conducted between 1969 and 1986. This era of exploration included 134 drill holes totaling 17,979 meters, the majority of which were cut using reverse circulation drilling. Geographical studies have since been conducted on the property, revealing strong alteration within the intra-volcanic package. Because the exploration work conducted on the Jefferson Canyon property was before the establishment of the NI-43 101 standards, additional exploration will be necessary in order to define a mineral resource.

Gold79 Mines’ Tip Top Project

The Tip Top gold project is located in the Walker Lane gold trend, in Esmerelda County, Nevada approximately five miles south of Montgomery Pass. The project is home to several low-sulfidation oxide gold-silver epithermal veins with low base metal contents.
Gold79 Mines\u2019 Tip Top Project

Two of the veins found on the Tip Top project have historically produced a total of 6,900 ounces of gold and some silver. Since 1980, the property has been drilled by five companies, with a total of 143 drill holes cut for over 24,000 feet.

Exploration

Historical exploration has been conducted on the Tip Top project, including:

  • Hole TTD-02 returned 2.44 meters of 19.82 g/t gold from 20.20 meters depth;
  • Hole TTD-04 returned 2.59 meters of 7.89 g/t gold from 32.00 meters depth;
  • Hole T98-12 returned 4.57 meters of 16.31 g/t gold from 28.97 meters depth,
  • Hole T98-14 returned 9.14 meters of 14.42 g/t gold from 21.34 meters depth.

The historical drilling conducted at the Tip Top gold vein, especially exploration conducted near the Top Top adit, has identified gold-bearing veins that have shown the potential to expand the known mineralization along strike and to depth. There is not currently enough confidence in the historical data to support resource modeling, however, the company believes there is significant exploration potential along the Tip Top vein system and parallel veins.

Management Team

Derek Macpherson -
President & CEO

Derek Macpherson has 10+ years of experience in mining capital markets. He was previously Senior VP, Investment Banking & formerly was a VP, Mining Analyst at Red Cloud. Prior to capital markets, Derek worked as a metallurgist for six years.

Gary R. Thompson -
Executive Chairman

Gar R. Thompson is the founder, CEO and chairman of Brixton Metals Corporation (TSXV:BBB). He is the former CEO of Sierra Geothermal Power Corp, which was sold to Ram Power in 2010. He has 27 years of experience in resources and capital markets.

Robert Johansing, M.Sc. -
VP Exploration

Robert Johansing has 40 years of experience in mining and mineral development. He has worked as PM and President of Kinross El Salvador, S.A. de C.V. and worked as a consultant in exploration and mining projects in Central and S. America.

John McNeice, CA, CPA -
CFO & Corporate Secretary

John McNeice operated as the CFO of Ur-Energy Inc. from 2004 to 2007. He has also worked as CFO of Carube Copper Corp. and Northern Graphite Corp. during his career. He currently acts as a financial consultant to emerging private and publicly traded junior mining companies.

James M. Franklin, PhD, FRSC, P.Geo. - Director

James has 40 years of geology experience, including time operating as Director of Ur-Energy Inc and Nuinsco Resources Ltd. During his career, he has also served as the President of the Geological Association of Canada and of the Society of Economic Geologists.

W. William Boberg, M.Sc., P.Geo. - Director

W. William Boberg is the Director of Ur-Energy Inc. and served as Ur-Energy’s President and CEO from 2006 to July 2011. Boberg has 35 years of experience investigating, assessing and developing mineral resources. Throughout his career, Boberg has worked with resource companies including Gulf Minerals, Hecla Mining, Anaconda, Continental Oil Minerals Department, World Nuclear, Kennecott, Western Mining.

Disclaimer: This profile is sponsored by Gold79 Mines (TSXV:AUU). This profile provides information which was sourced by the Investing News Network (INN) and approved by Gold79 Mines, in order to help investors learn more about the company. Gold79 Mines is a client of INN. The company’s campaign fees pay for INN to create and update this profile.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services, or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Gold79 Mines and seek advice from a qualified investment advisor.

Gold79 Acquires the Sheep Trail Patented Claims at Its Gold Chain Project and Reports 51.9 g/t Gold from Initial Sampling

Gold79 Acquires the Sheep Trail Patented Claims at Its Gold Chain Project and Reports 51.9 g/t Gold from Initial Sampling

Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) ("Gold79" or the "Company") is pleased to announce the purchase of the Sheep Trail Group of patented claims and reports the initial sampling results from these claims. The patented ground, covering 113.2 acres, is immediately east of the Banner patented claims (Figure 1). It encompasses an extensively altered and mineralized zone which has been traced for over 1.2 kilometres within the Sheep Trail block, forming a portion of the approximately 10km North Oatman trend the Company is exploring at Gold Chain. Widespread, shallow mine workings (pre-1920) can be seen throughout the claim block. Preliminary grab samples of mine dumps have yielded up to 51.9 gt Au and rock chip samples have returned up to 2.0 metres at 20.4 gt Au.

The Company's Gold Chain Project in Arizona is now comprised of 15 patented claims, covering approximately 264 acres and 361 lode claims on BLM land comprising about 7,180 acres (2,907 Ha).

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TSXV:AUU

GOLD79 Intersects 10.68 g/t Gold over 3.1m at Its Gold Chain Project in Arizona

Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) ("Gold79" or the "Company") is pleased to announce additional results from its recently completed 16 hole drill program at the Gold Chain project in western Arizona. The remaining 12 holes (852 meters) highlighted in this release were focused on the northwestern-most 2 kilometers of the 10 km North Oatman trend which includes the historical Roadside mine and the Banner mine to the southeast (Figure 1).


Highlights

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TSXV:AUU

Gold79 Drills 21.3m of 2.0 g/t Gold at the Tyro Target at Its Gold Chain Project in Arizona

Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) ("Gold79" or the "Company") is pleased to announce preliminary results for the first four drill holes (223 meters) from its recently completed 16 hole program at the Gold Chain project in western Arizona. The four holes highlighted in this release were drilled across the northernmost exposures of the Tyro target and tested broadly mineralized surface exposures at depths from 20 to 40 meters below the surface. Results from the remaining 12 holes (852m) are pending.

Highlights

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GOLD79 Further Consolidates its Gold Chain Land Position with Agreement for Tyro Patented Claims and Provides Sampling Results

Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) ("Gold79" or the "Company") is pleased to announce that it has completed a Definitive Lease and Option to Purchase Agreement for the Tyro Group patented claims and results of initial sampling from the Tyro claims. The claims, covering 57.4 acres, are immediately northeast of the Banner patented claims (Figure 1). The Tyro claims were subject to historical mining as recently as the 1980's (Figure 2) and our initial work has yielded positive gold results.

Mr. Derek Macpherson, President & CEO stated, "The Tyro claims contain another highly prospective exploration target for the Company which we plan to test with the current drill program. The ~1 km northeast-trending structure has yielded impressive results from initial sampling and is a high-priority drill target for Gold79." Mr. Macpherson continued, "This agreement provides us with another set of patented claims, which will be of strategic advantage when we get to the development phase for Gold Chain."

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fortuna silver mines

Drilling Underway at Gold79's Gold Chain Project in Arizona

Gold79 Mines Ltd. (TSXV: AUU) ("Gold79" or the "Company") is pleased to announce that it commenced drilling on September 17, 2021 at its Gold Chain Project in Arizona. To date, 5 holes have been completed at the Roadside Mine area and the drill is in the process of being moved to the Banner Mine area. The program is expected to comprise approximately 1,500m testing several near-surface targets.

Mr. Rob Johansing, Vice President Exploration, stated, "Our drill program has been initiated at the Roadside mine where we are following shallow zones of quartz stockwork away from the historical mine." Mr. Johansing continued, "We are looking forward to the initial tests of several targets in the Banner Mine area, an historic mine which has never seen modern exploration."

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barrels of  oil and gold coins on keyboard

Top Stories This Week: Gold Nears US$1,850, "Everything Looks Good" in Oil and Gas

Top Stories This Week: Gold Nears US$1,850, "Everything Looks Good" in Oil and Gas youtu.be

It was a week of upward momentum for the gold price, which took off mid-week, briefly passing US$1,846 per ounce after going as low as U$1,810 earlier in the period.

The metal was around US$1,830 at the time of this writing on Friday (January 21) afternoon.

Industry commentators have explained gold's increase by pointing to a slew of factors, including weakness in the US dollar and lower 10 year Treasury yields, along with a correction in the NASDAQ Composite (INDEXNASDAQ:.IXIC) that left the index down over 10 percent from its November high.

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Kibali Delivers Another Stellar Performance and Expects to Grow Its Mineral Reserves Net of Depletion

All amounts expressed in US dollars

Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) The Kibali gold mine produced a total of 812,152 ounces 1 well within guidance for 2021, and expects to increase its mineral reserves net of depletion for the third successive year, maintaining its plus 10-year life as one of Barrick Gold Corporation's Tier One 2 assets.

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New Orogenic Gold Discovery by Goldplay at Goldstorm South Project, BC Returns 21.8 g/t Au

New Orogenic Gold Discovery by Goldplay at Goldstorm South Project, BC Returns 21.8 g/t Au

Goldplay Mining Inc. (TSXV:AUC)(OTCQB:AUCCF)(Frankfurt:9FY), (the "Company" or "Goldplay"), is pleased to announce results from its 2021 field program on the Goldstorm South Project ("Goldstorm South" or the "Project"), formerly referred to as the Niut Mountain Project, located within 4 km from road access and 20 km southeast of White Saddle Air Services Ltd.'s permanent helicopter base in the western Chilcotin District of southwestern British Columbia

HIGHLIGHTS

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Red Pine Extends Mineralization 140 m Down-Dip of the Current Surluga Resource

Red Pine Extends Mineralization 140 m Down-Dip of the Current Surluga Resource

Red Pine Exploration Inc. (TSX-V: RPX) ("Red Pine" or the "Company") is pleased to report drilling results from its 2021 drilling program. Hole SD-21-308 discovered significant mineralization 140 m down-dip of the resource boundary in the northern part of the Surluga deposit in the Jubilee Shear Zone. This new zone, starting at approximately 240 metres vertical depth and named the Surluga North Discovery, has the potential to expand the current resource of the Surluga Deposit at the Wawa Gold Project.

Highlights of the on-going drilling program ( Figure 1 )

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TDG Gold Corp. Samples Up To 32.9 g/t And 27.6 g/t Gold at Mets, Toodoggone, B.C.

TDG Gold Corp. Samples Up To 32.9 g/t And 27.6 g/t Gold at Mets, Toodoggone, B.C.

TDG Gold Corp. (TSXV:TDG) (the "Company" or "TDG") is pleased to announce the results of the 2021 exploration program at its former producing high-grade gold Mets Mining Lease located in the road accessible Toodoggone Production Corridor of north-central, B.C. Highlights include grab samples yielding 32.90 grams per tonne ("gt") gold ("Au") and 27.61 gt Au collected from locations of known historical drill collars (Table 1

TDG's Mets Mining Lease consists of 200 hectares located 23 kilometres ("km") by road from TDG's Baker Mine (Figure 1). A summary of historical exploration work completed at Mets was published by TDG in its news release dated May 19, 2021 (here). TDG has recompiled 7,944 metres ("m") of diamond drilling of the 8,784 m reported to have been drilled historically, along with review of the 2,622 m of historical trenching. Historical drill highlights include DDH MT86-08 which intersected 25.9 m of 9.52 g/t Au and MT86-05 intersecting 46.4 m of 3.57 g/t Au (including 11.8 m of 13.93 g/t Au).

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Golden Independence Announces Management Change

Golden Independence Announces Management Change

Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "Company" or "Golden Independence") announces that Christos Doulis has resigned as the Chief Executive Officer and a director of the Company effective January 20, 2022 to pursue other endeavours. Jeremy Poirier, a director of the Company, has been appointed as Interim Chief Executive Officer until a suitable permanent replacement is located.

"Christos has been instrumental in the advancement of Independence Project and, specifically, in the recent formation of the joint venture with America's Gold Exploration Inc. to develop the project. The board would like to sincerely thank Christos for his significant contributions to the Company and wish him well in his future endeavours," commented Jeremy Poirier, Interim Chief Executive Officer.

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