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Heritage Mining Ltd. (CSE:HML) (FRA:Y66) (“Heritage” or the “Company”) is pleased announce significant advancements in the first few weeks of its fully permitted Phase 1 exploration drilling program at the flagship Drayton – Black Lake project (the “Project”) (Figure 1), located near Sioux Lookout, Ontario. The Project is located within Eagle-Wabigoon-Manitou greenstone belt of the Wabigoon Subprovince, which also hosts the Treasury Metals Inc. (TSE:TML) Goliath-Goldlund deposits.
Exploration Update:
New Millennium Area (Never Drilled): At least three mineralized deformation corridors consisting of multiple discrete zones of deformed volcanic rocks and shear parallel quartz veins. A 5m wide orogenic load gold style sheeted quartz veins identified in the hanging and foot wall was identified on the first day of mapping at the Project. Pyrite, Chalcopyrite, and Galena observed in the vein system, similar to New Millennium veins sampled to the north. Grab sample assays pending (Figure 2). The Company has also secured a contractor to clear a trail to the New Millennium Area for proposed drilling by month’s end, weather permitting.
Peter Schloo, President, CEO and Director commented, “A fantastic find on the team’s first day at New Millennium and the largest vein in the area to date. Leveraging our local relationships, we have secured a permitted trail ahead of schedule. The trail will provide for better access thereby increasing operational efficiency and the number of available drill targets. We will continue to work with all stake holders to advance the area in a collaborative manner inclusive of all stakeholders.”
Alcona Area: Mineralized deformation corridor over 1,000 m (up to 200 m wide) consisting of multiple discrete
zones of deformed volcanic rocks and shear parallel quartz veins. The team confirmed significant galena, pyrite, chalcopyrite and sphalerite associated with a 15m corridor of primary and secondary quartz veins at the Powerline Prospect (never drilled) which has been upgraded from proposed to drill ready-status (Figure 3).
Peter Schloo, President, CEO and Director commented, “The Powerline Prospect is a great window into the Alcona Area. This extension has never been drilled and is now a priority drill target with the potential of extending strike at depth. The access is fantastic, with logging active in the area, providing additional exploration upside.”
Moretti Area: Mineralized deformation corridor over 2,500 m consisting of discrete zones of deformed volcanic rocks and shear parallel quartz veins ranging from cm to meter scale. New Logging activities in the north eastern portion of the Property allow for improved access, ideal for prospecting and drilling over more than five historic mineral occurrences on the property inclusive of the advanced target, Moretti.
Peter Schloo, President, CEO and Director commented, “Recent logging activities is fantastic for our project. This increases the probability of new discovery and optimizes capital and operational efficiency pertaining to prospecting and drilling access. There is even a logging road going right past where we want to drill at Moretti. Simply put, We spend less time and capital getting there, and more time being there, fantastic.”
Corporate Update:
In less than two weeks from mobilization, the Company has secured vital equipment for Phase 1 mapping and exploration and coreshack facilities (Figure 5).
Figure 1: Heritage Mining Claims Package
Figure 2: CEO Peter Schloo and Exploration Manager Bobby Scott standing on Quartz Reef, Powerline Prospect, Alcona Area.
Figure 3: New Millennium Prospect
Figure 4: NEW DISCOVERY, 5-Meter-wide quartz vein at New Millennium Prospect, Never Drilled.
Figure 5 – Core Shack Facility and Equipment
Qualified Person
Robert Scott, Exploration Manager for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
ABOUTHERITAGEMININGLTD.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt. Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
For further information, please contact:
HeritageMiningLtd.
Peter Schloo, CPA, CA, CFA
President, CEO and Director
Phone: (905) 505-0918
Email: peter@heritagemining.ca
FORWARD-LOOKING STATEMENTS
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “outlook” and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company’s estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company’s projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
HML:CC
Heritage Mining Provides Update on Drilling Program and Corporate Update
Heritage Mining Provides Update on Drilling Program and Corporate Update
VANCOUVER, BC TheNewswire - May 8, 2023 Heritage Mining Ltd. (CSE:HML) (" Heritage " or the " Company ") is pleased to announce the Company has begun mobilizing field teams in advancement of its fully permitted Phase 1 exploration drilling program at its flagship Drayton Black Lake project (or the "Project") located near Sioux Lookout, Ontario. The Project is located within Eagle-Wabigoon-Manitou greenstone belt of the Wabigoon Subprovince, which also hosts the Treasury Metals Inc.'s (TSE:TML) Goliath and Goldlund deposits. The Company is also pleased to announce its participation via sponsorship and attendance to the Lac Seul Career Fair this coming May 10 th 2023.
2022 Summary
Our 2022 program which confirmed widespread Au-Ag mineralization hosted in deformation zones ranging from discrete 3-5m wide shear structures (New Millennium) to broad (>200m) composite deformation zones (Alcona Main and Moretti Areas). Channel results along with grab samples confirm the presence of extensive, structurally controlled and locally high-grade Au-Ag mineral systems.
2023 Exploration Plans
The Company's 2023 exploration program includes detailed mapping, channel sampling and 3D geologic block modeling in advance of planned and permitted phase one drilling at Alcona, Moretti and New Millennium:
Alcona: Mineralized deformation corridor over 1km strike by 200m wide consisting of multiple discrete zones of deformed volcanic rocks and shear parallel quartz veins open in all directions (Figure 2);
Moretti: Mineralized deformation corridor over 2,500m of strike 500m wide consisting of discrete zones of deformed volcanic rocks and shear parallel quartz veins ranging from cm to meter scale (Figure 3); and
New Millennium (Never Drilled) : At least three mineralized deformation corridors consisting of multiple discrete zones of deformed volcanic rocks and shear parallel quartz veins, rocks up to 2330g/t gold (Figure 2).
A 3D geologic and structural block model will help further refine the drill design and help in prioritizing the pipeline of precious and base metal projects for future follow-up exploration.
Historic Exploration Highlights:
O ver twenty base and precious metal prospects within seven mineralized z on es, over a 15,257-hectare land package (Figure 1)
157 historical drill holes completed between 1947 and 2016, shallow, average hole depth 120m
Select historical high-grade drill results include:
Alcona Mine Zone - 6.83 g/t Au over 1.70m in hole HR-ZL-01, from 35.50m
Moretti Zone - 31.87 g/t Au over 1.45m in hole BKl9914, from 110.41m
At Moretti Zon - e, an historic bulk sample (8.5 tonne) assayed 14.62 g/t Au
Peter Schloo, President, CEO and Director commented, "We are excited about commencing the fully permitted 2023 field program at Drayton – Black Lake project on schedule. The project shows significant potential for multiple exploration discoveries. Last year's successful field program at Alcona, New Millennium and Moretti confirmed high-grade gold and gold-silver mineralization and we plan to systematically advance these priority targets through to drilling. Given the scale and the number of base and precious metal mineral occurrences known on this property, the Company looks forward to evaluating and developing a pipeline of quality prospects for future exploration development, in a systematic and respectful manner inclusive and considerate of all key stakeholders."
Community Involvement: Lac Seul Career Fair
The Company has sponsored and will be attending the Lac Seul Career Fair as part of our commitment to source local talent from the surrounding communities this coming week May 10 th , 2023. The Lac Seul Career Fair will welcome students, recent graduates, and those seeking employment or further education in the area surrounding Frenchman's Head, Sioux-Lookout and the Project. More than 70 local businesses and organizations will be attending.
Peter Schloo, President, CEO and Director commented,
"We are very excited to sponsor, connect, present and provide employment and/or contracting opportunities to the local communities through career fairs such as Lac Seul Career Fair. We can't wait to meet everyone and introduce our developing story! See you there!"
Click Image To View Full Size
Figure 1: Property map – Property Geology and Targets
Click Image To View Full Size
Figure 2: Alcona and New Millennium areas with airborne magnetics 2VD showing surface sample locations and 2023 planned mapping areas.
Click Image To View Full Size
Figure 3: Moretti 2022 and Historic Results on 1VD Geophysics.
ABOUT HERITAGE MINING LTD.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure.
For further information, please contact:
Heritage Mining Ltd.
Peter Schloo, CPA, CA, CFA
President, CEO and Director
Phone: (905) 505-0918
Email: peter@heritagemining.ca
FORWARD-LOOKING STATEMENTS
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company's estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company's projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Copyright (c) 2023 TheNewswire - All rights reserved.
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Heritage Mining Provides Corporate and Exploration Update
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Heritage Mining Ltd. (CSE:HML) (" Heritage " or the " Company ") is pleased to announce that further to its April 13, 2023 press release announcing the closing of the first tranche of its non-brokered private placement offering announced on March 21, 2023 (the " Offering "), Heritage has secured sufficient capital to proceed with Phase 1 of its exploration program on its flagship Drayton-Black Lake Project as planned. The Company has also extended the closing of an additional tranche of the Offering until no later than June 19, 2023 and looks forward to continuing to advance its planned exploration program on the Drayton-Black Lake Project on schedule. The Company will provide additional updates in the near future
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Heritage Mining Announces Closing of the First Tranche of its Non-Brokered Private Placement of Units and Flow-Through Units
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VANCOUVER, BC TheNewswire - April 13, 2023 Heritage Mining Ltd. (CSE:HML) (" Heritage " or the " Company ") is pleased to announce that it has closed the first tranche (" Tranche One ") of its non-brokered private placement financing previously announced on March 21, 2023.
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Heritage Mining Announces Early Issuance of Exploration Permit for Flagship Project Drayton Black Lake
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VANCOUVER, BC TheNewswire - March 24, 2023 Heritage Mining Ltd. (CSE:HML ) ( FRA:Y66) (" Heritage " or the " Company ") is pleased to announce that the Ontario Ministry of Mines has issued the exploration permit required in connection with its 2023 drilling and additional exploration program on its flagship Drayton-Black Lake Project ("DBL") ahead of schedule. The program's primary focus will be to drill three priority targets at DBL.
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Heritage Mining Announces up to $1,500,000 Non-Brokered Private Placement of Units and Flow-Through Units
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VANCOUVER, BC TheNewswire - March 21, 2023 Heritage Mining Ltd. (CSE:HML) (" Heritage " or the " Company ") is pleased to announce that it intends to issue, pursuant to a non-brokered private placement, up to:
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Snowline Gold Purchases Mineral Property Portfolio with Historical Drill Results Of 2.1 Grams Per Tonne Gold Over 96.0 Metres on Intrusive Target Near Rogue Project’s Valley Discovery
- Snowline purchases 92 long-held mineral claims (roughly 1,920 ha) constituting 10 targeted claim blocks within and adjacent to its Rogue Project
- Claims include historical drill intersection of 2.1 g/t Au over 96.0 m from within poly-phase granodiorite "Reid" intrusion 8 km east of Snowline's Valley discovery, and on trend with the Gracie target
- Additional targets with promising historical drill and surface sampling results throughout acquired portfolio solidify Snowline's position in the district and highlight broader potential of the Rogue Plutonic Complex.
Table 1 - Historical diamond drill highlights reported in 1996 from the Reid target. These results have not been directly verified by the Company but are believed to be generally indicative of the potential for gold endowment at the target, particularly given anomalous gold in nearby talus fines sampled by the Company and given the demonstrated fertility of the Valley intrusion 8 km to the west of Reid. *Drilled widths reported, true widths not determined.
"This acquisition is a significant step in the transition of Snowline's Rogue Project from a discovery to a district," said Scott Berdahl, CEO & Director of Snowline. "We are excited to explore the Reid target as a part of our 2023 drill campaign at Rogue. The historical results from the 1996 drilling provide strong additional evidence of the gold potential of the Reid intrusion and of the many other intrusion-related gold targets on our Rogue Project outside of our Valley discovery. This claim package covers a first-mover land position based on early exploration efforts in the area. Alongside the strongly anomalous gold values from regional stream sediment geochemistry samples draining many parts of the Rogue Plutonic Complex, these historical results were a key draw in attracting our initial attention to Rogue. The Valley discovery has since shown that the necessary components are present at Rogue to produce substantial bulk-tonnage gold systems with unusually high grades for the RIRGS deposit type. We are thrilled to bring this collection of targets into the fold, and to give our shareholders much more exposure to the unique exploration potential of the Yukon's newest gold district."
Figure 1 - The Rogue Plutonic Complex (red), showing Snowline Gold's newly acquired claims (yellow squares) against the Company's pre-existing Rogue Project (medium blue). Highlight historical samples noted herein have not been verified by the Company, but they provide evidence for the general gold endowment of the broader Rogue Project area. Grab samples are selective in nature and don't necessarily represent bulk tonnage grades. Not shown are 30 "WEAS" claims, covering an intrusion some 26 km to the south (Figure 3).
On behalf of the vendors of the claims, Anthony Beruschi added: "Congratulations to the Snowline team on their wonderful gold discovery at the Rogue project, where skill and hard work have led to exploration success. In my view the Yukon is the best place in the world for explorers. I consider it a privilege to add our mineral claims, with their excellent historical drill results, to Snowline's impressive land package. I look forward to the realization of this opportunity with so many benefits for the Yukon and its people."
REID
The newly acquired Reid claims cover an exposed reduced intrusion adjacent to an open, 1 x 1 km gold-in-soil-and-talus-fine anomaly delineated by Snowline through surface sampling (Figure 2). Consistent with the surface geochemical anomalies at the Rogue Project's adjacent Valley and Gracie targets, the Reid anomaly is complemented by anomalous bismuth and tellurium values that correlate well with anomalous gold values. Follow up mapping by Snowline personnel confirmed earlier observations of sheeted quartz veins near the margin of the intrusion, oriented parallel to mineralized veins present at Valley and Gracie. Sixteen grab samples of quartz vein material from across an open, 450 x 600 m area within the anomaly ranged in grade from 0.2 g/t Au to 8.0 g/t Au.
Figure 2 - Plan map of the Reid and Gracie targets, with historical drill collar sites from drilling at Reid (sky blue) and Snowline's 2022 Phase I drilling at Gracie (red). AS-96-03 is collared downslope from AS-96-02, and thus the holes do not significantly overlap one another. While the historical drill results have not been verified by the Company, the scale of the associated soil and talus fine anomaly sampled by Snowline and the extent of mineralization observed during subsequent mapping provide additional evidence for a significant reduced intrusion-relation gold system at Reid.
Immediately south of the 1x1 km anomaly, the Reid intrusion is a 1-kilometer scale granodiorite body responsible for local hornfels alteration on the eastern end of a roughly 9 km trend of similar alteration that extends from the Rogue Project's Valley discovery in the west and includes the Gracie target in between (Figure 1), suggesting potential for a corridor of related intrusions with demonstrated gold fertility.
Historical surface sampling and drilling demonstrate the presence of gold mineralization associated with the Reid intrusion, particularly along its northern margin. Three diamond drill holes totalling 1,253 m were drilled in 1996. Samples from holes AS-96-01 and AS-96-02 returned anomalous but likely subeconomic gold grades, whereas hole AS-96-03 reported a 234.7 m interval of sheeted veins within the intrusion averaging 0.94 g/t Au, including 96.0 m at 2.09 g/t Au. These intervals are influenced by two 1.5 m intersections averaging 76.9 g/t Au and 26.7 g/t Au respectively (Table 1). They nonetheless demonstrate potential for the presence of fertile reduced intrusion-related gold system at Reid, particularly in the context of the nearby Valley discovery.
Historical descriptions of the Reid drill core parallel observations made in drilling the Rogue Project's Valley discovery. Notably, multiple phases of intrusion are described - at Valley, multiple phases of the intrusion characterize the strongest zone of mineralization found to date. Also, at Reid, reported observations of visible gold in AS-96-03 are associated with bismuthinite in quartz veins. At Valley and Gracie, bismuth and tellurium minerals (including bismuthinite) in quartz are key indicators for the presence of gold, and this is a fingerprint of the RIRGS deposit model.
The Company is currently planning for a 3-hole, Phase I drill program at Reid, totalling roughly 1,000 m.
CUJO
The Cujo target covers an elongate, 1 x 2 km intrusion at the west end of the Rogue Plutonic Complex (Figure 1). A historical drill program of 6 holes (total metres unknown) is reported to have been conducted in 1996 near the eastern edge of the intrusion, with an interval of 1.0 g/t Au over 13.6 m (true width unknown) referenced in subsequent reports. The Company has not been able to locate the original report describing this drilling, but the interval is reported in the Yukon Geological Survey's 1996 Yukon Exploration and Geology (YEG) annual report. Fieldwork by Snowline personnel in the vicinity of the claims yielded a grab sample of 63.8 g/t Au from hornfels metasedimentary rocks associated with the intrusion.
WEAS
The 30-claim (627 ha) WEAS property is located south of the Rogue Plutonic Complex, midway between Snowline's Cynthia and Olympus projects (Figure 3). Historical work on the property reported gold-bearing sheeted quartz veins within an exposed, 3 km by 2 km intrusion. Drilling in 1996 (5 holes, 1,280 m) is reported in the same 1996 YEG report to have intersected 1.0 g/t Au across 21 m (true width unknown) associated with the sheeted veins, along with surface grab samples of up to 20.1 g/t Au. The property is central to a larger claim block owned indirectly by HighGold Mining Inc., which currently in the process of spinning out those claims into a new company, Onyx Gold Corp.
The Company cautions that none of the historical results, including drill results, on the newly acquired claims have been verified. Assay methods and sampling techniques are not disclosed in the historical reports, and in the case of drilling on the Cujo and WEAS targets, the Company has only been able to locate indirect references to the results, but no primary source. Historical results discussed herein are presented more generally as an indication of the regional potential of the Rogue Plutonic Complex to host additional reduced intrusion-related gold systems.
Figure 3 - The WEAS claims shown in the context of surrounding mineral properties. Highlight historical samples noted herein have not been verified by the Company, but they provide evidence for the general gold endowment of the claims. Grab samples are selective in nature and don't necessarily represent bulk tonnage grades.
ACQUISITION TERMS
The Company has entered into an agreement with arm's length parties RST Klondike Discoveries Ltd. and Whistler Minerals Corp. (together, the "Vendors"), whereby the Company has acquired 92 mineral claims in exchange for (i) the payment of $1,000,000 in cash (the "Cash Consideration") and (ii) the issuance of 200,000 warrants (the "Warrant Consideration"), each for purchase of a single common share of the Company at a price of $3.50 for a period of two years (the "Acquisition"). The Warrants are subject to a hold period of four months and one day from the closing of the Acquisition, in accordance with applicable Canadian securities laws, expiring on October 1, 2023. The Vendors will retain a 1.0% NSR on the claims and will be entitled to up to two bonus payments of $1M each if a measured or indicated mineral resource of >1 million ounces of gold is disclosed in compliance with NI 43-101 standards on certain claims.
ABOUT ROGUE
The Valley Zone on Snowline's flagship Rogue Project is a newly discovered, bulk tonnage style, reduced intrusion-related gold system (RIRGS), with geological similarities to multi-million-ounce deposits currently in production such as Kinross's Fort Knox Mine in Alaska and Victoria Gold's Eagle Mine in the Yukon. Early drill results demonstrate unusually high gold grades for such a system, present near surface across drill intersections of hundreds of metres. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometer-scale, mid-Cretaceous aged Mayo-series intrusion. Valley is an early-stage exploration project without a resource estimate, and while initial results are encouraging, the presence or absence of an economically viable orebody cannot be determined until additional work is completed.
The Rogue Project area hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. The Rogue Project is thus considered by the Company to have district-scale potential for additional reduced intrusion-related gold systems.
ABOUT SNOWLINE GOLD CORP.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with an eight-project portfolio covering >280,000 ha. The Company is exploring its flagship >111,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline's project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross' Fort Knox mine, Newmont's Coffee deposit, and Victoria Gold's Eagle Mine. The Company's first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
QUALIFIED PERSON
Information in this release has been prepared under supervision of and approved by J. Scott Berdahl, M.Sc., P. Geo., CEO and Director for Snowline and a Qualified Person for the purposes of National Instrument 43-101.
ON BEHALF OF THE BOARD
Scott Berdahl
CEO & Director
For further information, please contact:
Snowline Gold Corp.
+1 778 650 5485
info@snowlinegold.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements regarding the potential to participate in multiple future discoveries, newly acquired areas having elevated potential to host gold deposits, the Rogue project having district-scale prospectivity, the creation of a new gold district and the Company's future plans and intentions. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with executing the Company's plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Victory Battery Metals: Diverse Portfolio of Base and Battery Metals Projects in North America
Victory Battery Metals (CSE:VR,FWB:VR61,OTCPINK:VRCFF) pivots to battery metals with a focus on its flagship project, Smokey Lithium situated very close to the only lithium-producing silver mine in North America. The company also maintains five other projects: Stingray Lithium Array in James Bay, Quebec; Georgia Lake Lithium property, Ontario; Tahlo Lake, in the Babine Copper-Gold Porphyry District, British Columbia; Saguenay Nickel Project, Quebec; and Black Diablo Copper and Manganese in Nevada.
These projects’ strategic locations in mining-friendly and infrastructure-ready jurisdictions position Victory to not only explore new sources of critical battery metals required to meet the growing demand but also help disrupt the currently unbalanced supply chain, with China dominating roughly 70 percent of global lithium production despite the fact it only supplies 13 percent of the world's lithium.
Given China's questionable mining practices and propensity for leveraging the global supply chain as a political weapon, the status quo is far from ideal. Unsurprisingly, many countries — Canada and the United States among them — are investing heavily into establishing a domestic lithium supply chain. Victory Battery Metals is ideally positioned to take advantage of these investment efforts.
Company Highlights
- Recently completed a successful private placement for $2 million, and holds several million dollars in treasury.
- Smokey Lithium flagship project operates out of Nevada, one of the most mining-friendly jurisdictions in North America.
- Victory's primary focus is on bridging the considerable gap between supply and demand, and is benefitting considerably from federal mandates around lithium and critical battery metals production in both Canada and the United States.
- Work programs are planned for all major assets within the next twelve months.
- Maintains an incredibly diverse mining portfolio primarily geared towards the needs of the growing electric vehicle market. However, its assets also include precious metals such as gold and silver.
- Victory is actively working to identify opportunities in regions conducive to mining and geographic locations suited to year-round exploration and development.
This Victory Battery Metalsprofile is part of a paid investor education campaign.*
Trenching Results Extend Mineralization Trend at Lyell to 1km
Siren Gold (ASX:SNG) (Siren or the Company) is pleased to provide an update on the significant potential of its Lyell Prospect.
Highlights:
Background
The Lyell Goldfield is located 40kms north of Reefton (Figure 1), where gold bearing quartz lodes were worked over a continuous strike length of 5kms. The Lyell Goldfield is the northern extension of the Reefton Goldfield that produced 2 Moz of gold at an average recovered grade of 16g/t. The project overlays the historic Alpine United mine, which produced ~80koz of gold at an average recovered grade of ~17g/t between 1874 and closing in 1912.
Several other small mines, such as the Break of Day, Tyrconnell and United Italy, also operated historically north of the Alpine United mine. These are reported to have worked high grade quartz leaders up to about 10 cm width but only produced only small tonnages.
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This article includes content from Siren Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.