Pinnacle Silver and Gold (TSXV:PINN) stands out as a promising precious metals explorer with its strategic focus on high-potential projects in North and South America. The company presents a compelling investment opportunity in the precious metals sector as it continues to advance its existing projects and pursue new opportunities, offering investors an attractive entry point into the dynamic world of silver and gold exploration.
The company is strategically positioned to capitalize on the growing demand for these valuable resources driven by several key factors including a robust pipeline of projects at various stages of exploration and development and effective capital management practices.
El Potrero lies within 35 km of four operating mines, including the 4,000 tons-per-day (tpd) Ciénega mine by Fresnillo, Luca Mining’s 1,000 tpd Tahuehueto mine, and the 250 tpd Topia mine owned by Guanajuato Silver. The El Potrero property had undergone small-scale production from 1989 to 1990 and contains a 100 tpd plant that can be refurbished/rebuilt at relatively low cost.
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Pinnacle Silver and Gold presents a compelling investment opportunity in the precious metals sector as it continues to advance its existing projects and pursue new opportunities, offering investors an attractive entry point into the dynamic world of silver and gold exploration.
Pinnacle Silver and Gold (TSXV:PINN) stands out as a promising player in the precious metals exploration sector. With its strategic focus on high-potential projects, commitment to responsible mining practices, and experienced leadership team, the company is well-positioned for growth.
As an exploration company focused on silver and gold projects in the Americas, Pinnacle is strategically positioned to capitalize on the growing demand for these valuable resources. The company's investment appeal stems from several key factors:
The company’s business strategy involves the acquisition of past-producing mines that can be put back into production quickly to generate cash flow. By focusing on high-grade, underground mines, Pinnacle can leverage low capex, a smaller operational footprint, easier and faster permitting process and protection against metal price volatility. At the same time, the company conducts brownfield exploration for resource expansion, increasing its potential for district-scale discovery.
Pinnacle's emphasis on creating shareholder value is evident in its approach to project selection and development. The company's portfolio is carefully curated to balance near-term production potential with long-term growth prospects, offering investors exposure to both immediate returns and future upside.
The 100 percent owned Argosy Gold Mine project is located in the northern part of the Birch-Uchi Greenstone Belt of the Superior Province of the Precambrian Shield, and just 10 km northwest of First Mining Gold’s Springpole deposit, which contains 4.7 million ounces of gold in the indicated category. The Birch-Uchi Belt lies between the prolific Red Lake and Pickle Lake Greenstone Belts and contains similar geology. Located 110 kilometres east-northeast of Red Lake, the property hosts the most significant past-producing gold mine in the Birch-Uchi Belt, with 101,875 oz of gold produced at 12.7 grams per ton (g/t) between 1931 and 1952.
Diamond drilling in October 2002 by a previous operator confirmed the extension of the gold mineralization below the old workings with intercepts of 11.75 g/t over 1.55 m and 14.39 g/t over 0.7 m on the Number 2 Vein, 100 m below the old mine development. Additional intercepts of 14.67 g/t over 1.7 m on the Number 3 Vein, and 12.02 g/t over 1.29 m on the Number 8 Vein highlight the potential to build resources on parallel, un-mined veins.
There is exceptional exploration potential on the property and the company is actively expanding its exploration efforts to delineate the full extent of the mineralization.
The 3,850 hectare, 100 percent owned North Birch gold project lies in the northwestern corner of the Birch-Uchi Greenstone Belt in the Red Lake mining division of northwestern Ontario, roughly 110 km northeast of the town of Red Lake. The Birch-Uchi Belt is considered to have similar geology to the Red Lake Belt but has seen less exploration and is about three times larger. The North Birch project covers a geological setting identified from airborne magnetic surveys and interpreted as a favorable environment for gold mineralization. The property covers an intensely folded and sheared iron formation similar in appearance to the one hosting Newmont Goldcorp’s Musselwhite Mine (past production, reserves and resources exceed 8 million ounces of gold), some 190 kilometers to the northeast. In addition, the stratigraphy underlying the bulk of both properties is interpreted as Cycle I volcanics, which are thought by some workers to be equivalent to the Balmer Assemblage, host of the prolific Campbell/Red Lake gold orebody (more than 20 million ounces of gold in past production and reserves) in the adjacent Red Lake Greenstone Belt.
Located about 4 km from the Argosy Gold Mine, North Birch has undergone minimal previous exploration, making it a largely grassroots prospect. The property covers an interpreted geological setting that is considered to be highly prospective for both iron formation hosted and high-grade quartz vein hosted gold mineralization.
In a strategic move to diversify its portfolio, Pinnacle has signed a letter of intent for an option to acquire a high-grade El Potrero gold-silver project in the Sierra Madre Trend of Mexico. This expansion underscores the company's commitment to growth and its ability to identify and secure promising opportunities in key mining jurisdictions.
El Potrero lies within 35 km of four operating mines, including the 4,000 tons-per-day (tpd) Ciénega mine by Fresnillo, Luca Mining’s 1,000 tpd Tahuehueto mine, and the 250 tpd Topia mine owned by Guanajuato Silver. The El Potrero property had undergone small-scale production from 1989 to 1990 and contains a 100 tpd plant that can be refurbished/rebuilt at relatively low cost.
The property hosts a 4 km strike length of a northwest-southeast trending epithermal vein system with high-grade gold and silver mineralization. The veins are brecciated and hosted in andesitic volcanics of the Tertiary Lower Volcanic Series near the contact with the overlying Upper Volcanic Series. Multiple small mines, accessible by adits into the side of the hill, exist along the system and some have been exploited in the 1980’s and possibly before. Vein widths are reported to be in the 0.5 to 10 meter range. Vein textures indicate the mines may be sitting fairly high in the epithermal system implying good potential to extend the mineralization to depth.
Under the terms of the agreement, Pinnacle will earn an initial 50 percent interest immediately upon commencing production. The goal would then be to generate sufficient cash flow with which to further develop the project and increase the company’s ownership to 100 percent subject to a 2 percent NSR. If successful, this approach would be less dilutive for shareholders than relying on the still challenging equity markets to finance the growth of the company.
Robert Archer has more than 40 years’ experience in the mining industry, working throughout the Americas. After spending more than 15 years with major mining companies, Archer held several senior management positions in the junior mining sector and co-founded Great Panther Mining, a mid-tier precious metals producer, where he served as president and CEO from 2004 to 2017 and director until 2020. He joined Pinnacle as a director in March 2018 followed by his appointment as CEO in January 2019 and president in October 2021. Archer is a professional geologist and holds an Honours BSc from Laurentian University in Sudbury, Ontario.
David Cross is a CPA and CGA with over 21 years’ experience in the junior sector with a focus on finance and corporate governance. He is currently a partner of Cross Davis and Company LLP Chartered Professional Accountant, which specializes in accounting and management services for private and publicly listed companies within the mining industry, and has recently been appointed CFO of Ashburton Ventures.
Colin Jones is principal consultant for Orimco Resource Investment Advisors in Perth, Australia. He has almost 40 years’ experience as a mining, exploration and consulting geologist in a number of different geological environments on all continents. He has managed large exploration and due diligence projects, and has undertaken numerous bankable technical audits, technical valuations, independent expert reports and due diligence studies worldwide, most of which were on behalf of major international resource financing institutions and banks. Jones holds a Bachelor of Science (Earth Sciences) degree from Massey University, NZ.
David Salari has worldwide experience in the design, construction and operation of extractive metallurgical plants. He is an engineer with more than 35 years of experience in the mining and mineral processing field. He is currently the president and CEO of DENM Engineering.
Ron Schmitz is the principal and president of ASI Accounting Services, providing administrative, accounting and office services to public and private companies since July 1995. Schmitz 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.
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VANCOUVER, BRITISH COLUMBIA TheNewswire - January 09, 2025 (TSXV: PINN; OTC:NRGOF; Frankfurt: P9J) Pinnacle Silver and Gold Corp. (" Pinnacle " or the " Company ") wishes to remind shareholders that the company's annual general meeting is set to take place virtually on January 10, 2025, at 11:00am, for the following purposes:
To receive the annual financial statements of the company for the fiscal year ended April 30, 2024, together with the report of the auditor thereon;
To fix the number of directors of the company at four;
To elect directors of the company for the ensuing year;
To appoint the auditor of the company for the ensuing year and to authorize the directors to fix the remuneration to be paid to the auditor;
To ratify, confirm and approve the company's rolling share option plan, as more particularly described in the accompanying information circular.
The company has satisfied all the conditions of, and is relying on, the exemption from the requirement to send proxy-related materials provided under Canadian Securities Administrators Coordinated Blanket Order 51-931 dated Dec. 4, 2024.
The Company's annual financial statements and related management discussion and analysis, as well as interim financial statements and related management discussion and analysis are available on the Company's SEDAR+ profile and the Company's website as noted below.
ABOUT PINNACLE SILVER AND GOLD CORP.
Pinnacle is currently focused on district-scale exploration for precious metals in the prolific Red Lake District of northwestern Ontario. The past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional district-scale potential. Pinnacle is also actively looking for other district-scale opportunities in the Americas, with a particular focus on silver and gold. With a seasoned, highly successful management team and quality projects, Pinnacle Silver and Gold is committed to building long -term , sustainable value for shareholders.
Signed: "Robert Archer" President & CEO
FOR FURTHER INFORMATION CONTACT:
Email: info@pinnaclesilverandgold.com
Tel.: +1-877-271-5886 ext. 110
Website: www.pinnaclesilverandgold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release .
Copyright (c) 2025 TheNewswire - All rights reserved.
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VANCOUVER, BRITISH COLUMBIA, December 10, 2024 TheNewswire - (TSXV: PINN; OTC:NRGOF; Frankfurt: P9J) Pinnacle Silver and Gold Corp. (" Pinnacle " or the " Company ") is providing an update on the proposed acquisition of a staged option to acquire up to a 100% interest, subject to a 2% NSR, in the Potrero gold-silver project in Durango, Mexico, as announced in Pinnacle news release of Oct. 28, 2024 .
As the proposed acquisition is subject to TSXV approval and the transaction is considered by the TSXV to be a "Fundamental Acquisition", Section 3.5 of Exchange Policy 3.3 requires regular updates on the progress of the transaction.
The Company reports that technical and legal due diligence are almost complete, the requisite NI 43-101 Technical Report is well underway, the preparation of a final Definitive Agreement and Title Opinion are in the final stages and the financing is progressing well. There is no change to the terms of the financing. As such, the Company anticipates being in a position to file with the TSXV by mid-January.
The Company also wishes to notify shareholders that in case of disruption due to the ongoing Canada Post strike, the Company's meeting materials (the "Meeting Materials") for the Company's upcoming annual general meeting to be held on January 10, 2025 at 11:00 a.m. (Vancouver Time) (the "Meeting"), may be viewed on the Company's SEDAR+ profile at www.sedarplus.ca and are also available electronically on the Company's website at www.pinnaclesilverandgold.com .
Due to the postal strike, it is possible that the Meeting Materials will not be delivered to shareholders prior to the Meeting. Shareholders will still be able to vote their shares either directly or by proxy, or indirectly via their intermediary. Registered and beneficial shareholders who have not received their Meeting Materials, including the proxy, can direct requests for copies of the Meeting Materials to the Corporate Secretary at the contact details below. The Company will provide copies of the Meeting Materials by email to each shareholder who requests them while the strike is ongoing, at no charge.
If you are a registered shareholder, please contact Computershare Investor Services Inc. ("Computershare") at 1-800-564-6253 (toll free within North America) between 8:30 am and 8:00 pm Eastern Time or +1-514-982-7555 (international direct dial) to obtain your voting control number (subject to passing of identity verification). With the voting control number, you can vote online at www.investorvote.com . If you are unable to obtain your voting control number, you can use the generic Form of Proxy available on SEDAR+ or the Company's website, write in the registered holder's name, address, number of shares, holder account number, indicate your votes and sign (Corporate holders should also indicate name and title of person signing), and fax the completed proxy form by 11:00 am Pacific Standard Time on January 8, 2025 to Computershare at 1-866-249-7775 (Toll Free North America) or 416-263-9524 (International).
If you hold shares through an intermediary such as a brokerage firm, please contact your intermediary directly for a copy of the proxy form and instructions for voting.
The Company's annual financial statements and related management discussion and analysis, as well as interim financial statements and related management discussion and analysis are available on the Company's SEDAR+ profile and the Company's website as noted above.
Mr. Robert A. Archer, P. Geo, a Qualified Person as defined by National Instrument 43-101, and the President and CEO of the Company, has reviewed, verified and approved for disclosure the technical information contained in this news release.
ABOUT Pinnacle Silver and Gold Corp.
Pinnacle is currently focused on district-scale exploration for precious metals in the prolific Red Lake District of northwestern Ontario. The past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional district-scale potential. Pinnacle is also actively looking for other district-scale opportunities in the Americas, with a particular focus on silver and gold. With a seasoned, highly successful management team and quality projects, Pinnacle Silver and Gold is committed to building long -term , sustainable value for shareholders.
Signed: "Robert Archer" President & CEO
FOR FURTHER INFORMATION CONTACT:
Email: info@pinnaclesilverandgold.com Tel.: +1-877-271-5886 ext. 110
Website: www.pinnaclesilverandgold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release .
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
The Agreement - Pinnacle Silver and Gold Corp. "Pinnacle") has signed a Letter of Intent (the "LOI") with an arm's length private individual and a company he controls whereby Pinnacle will have a staged option to acquire up toa 100% interest in the 1,074 hectare El Potrero high-grade gold-silver project in Durango, Mexico.
Prolific Area with Major Operating Mines Nearby - ElPotreroislocatedintheprolificSierraMadreOccidental of westernMexicoand lies within35kilometresoffouroperatingmines, including the 4,000 tonnes per day (tpd) Ciénega Mine (Fresnillo),the 1,000 tpd Tahuehueto Mine (Luca Mining) and the 250 tpd Topia Mine(Guanajuato Silver).
High Grade District-scale with Exploration Upside - High-grade gold-silver mineralization occurs in a low sulphidation epithermal breccia vein system hosted within andesites of the Lower Volcanic Series and has at least six historic mines along thefour-kilometre strike length. A historic resource based upon underground sampling is reported to consist of 45,561 tonnes at 8.0 g/t gold and 186 g/t silver ( 10.3 g/t gold equivalent or 845 g/t silver equivalent). 1 , 2 The property has been in private hands for almost 40 years and has never been drilled or explored by modern methods, leaving significant exploration potential.
Near-term Production Possibility - A 100 tpd plant on site can be refurbished / rebuilt and historic underground mine workings rehabilitated at relatively low cost in order to achieve near-term production once permits are in place.
Infrastructure Friendly - Property is road accessible with a power line within four kilometres. Surface rights are privately owned (no community issues) and the acquisition includes approximately 200 hectares of land where the plant sits.
Staged Option and Earn-In Right - Pinnacle will earn an initial 50% interest immediately upon commencing production. The goal would then be to generate sufficient cash flow with which to further develop the project and increase the Company's ownership to 100% subject toa 2% NSR. If successful, this approach would be less dilutive for shareholders than relying on the still challenging equity markets to finance the growth of the Company.
Proven Management Expertise in Operating Gold/Silver Mines in Mexico - Pinnacle's Board and Management have considerable years of experience and success operating in the Sierra Madre gold-silver belt of Mexico. Pinnacle's President CEO, Robert Archer was a co-founder of Great Panther Silver, that initially acquired and restarted the Topia Mine in 2004-06, and successfully transitioned the company from explorer and developer to mid-size silver miner reaching $600 million market capitalization and listing on NYSE-American. Non-executive director David Salari is involved in the development of two mines in Mexico and Colin Jones, also a non-executive director, is a Technical Advisor to another explorer in the region.
The LOI - The non-binding LOI is conditional upon a number of standard conditions, including completion of satisfactory due diligence by Pinnacle, completion of a financing, the filing of a NI 43-101 Technical Report, the execution of a formal Definitive Agreement and final approval of the TSX Venture Exchange. Pinnacle has exclusivity during the 3-month LOI period.
VANCOUVER, BRITISH COLUMBIA – TheNewswire - October 28, 2024 - (TSXV: PINN; OTC:NRGOF; Frankfurt: P9J) – Pinnacle Silver and Gold Corp. (" Pinnacle " or the " Company ") is pleased to announce that it has signed a Letter of Intent (the "Transaction") to acquire up to a 100% interest, subject to a 2% NSR, in a reportedly high-grade gold-silver project in Durango, Mexico.
Located in the prolific Sierra Madre Trend of Mexico, which hosts several world class gold-silver mines and resources, the 1,074 hectare El Potrero Project lies within a 35-kilometre radius of four producing mines, including La Ciénega, one of Mexico's largest underground gold-silver mines. Under a single owner for about 40 years, the Potrero property has been subject to small scale production in 1989- 90 and contains a 100 tonne per day plant that can be refurbished / rebuilt at relatively low cost. Similarly, the underground mines are accessible via adits (no shafts) and can be rehabilitated fairly quickly and inexpensively. At that point, the vendor and the Company will share equally in all proceeds of production, allowing the Company to further develop the property without undue shareholder dilution.
"We are extremely pleased to have the opportunity to develop and explore the El Potrero Property," stated Robert Archer, Pinnacle President & CEO. "It is centered in a well-mineralized district and has had high-grade historic production of its own, yet the four-kilometre strike length of the vein system has not been drilled or systematically explored by modern methods. Average gold and silver grades are reported to be in the range of 10.3 g/t gold equivalent or 845 g/t silver equivalent.
In the current environment of high metal prices, this presents an exciting opportunity to develop the property from the proceeds of production and continue to advance the project and build the company through additional acquisitions in a non-dilutive manner. This is a business model that I am very familiar with, having successfully implemented it in the past with Great Panther."
The property hosts a four-kilometre strike length of a northwest-southeast trending epithermal vein system containing high grade gold and silver mineralization. The veins are brecciated and hosted in andesitic volcanics of the Tertiary Lower Volcanic Series near the contact with the overlying Upper Volcanic Series. Multiple small mines, accessible by adits into the side of the hill, exist along the system and some have been exploited in the 1980's and possibly before. Vein widths are reported to be in the 0.5 to 10 metre range. Vein textures indicate that the mines may be sitting fairly high in the epithermal system implying good potential to extend the mineralization to depth.
There has been no drilling on the property and no detailed production records have been provided to date, but longitudinal sections of the mine workings indicate mineralized blocks totalling a historic resource of 45,561 tonnes at 8.0 g/t gold and 186 g/t silver (10.3 g/t gold equivalent or 845 g/t silver equivalent 1, 2 ). First-pass sampling has been conducted as part of Pinnacle's due diligence and samples are in the lab at SGS Durango. It is the Company's intention to conduct extensive underground sampling, commencing as soon as possible after signing the Definitive Agreement. A diamond drill program will also be planned to initially test the continuity of mineralization in and around the old workings, followed by step out drilling along strike and down-dip.
A 100 tonne per day processing plant with a vat-leach cyanidation and Merrill Crowe circuit was in operation in 1989-1990. The basic infrastructure is sound, but some equipment will need replacement. The main power grid is only four kilometres away and the property is road accessible, being approximately 9 hours from Durango City and two hours from Topia. Operating permits will need to be re-established. A geotechnical evaluation of the mine workings will be conducted in order to design and implement a rehabilitation plan.
1, 2 See footnotes above
The Transaction has been structured as a staged earn-in, allowing the Company to acquire a direct interest in the property and infrastructure according to the following schedule, cash payments and share issuances (all dollar amounts are in United States Dollars):
On signing a Definitive Agreement (the "DA") - $50,000 cash and 500,000 shares of Pinnacle. Pinnacle will pay the back taxes forthe property (estimated at $160,000).
8 months from signing the DA - $200,000 cash and 1,000,000 shares of Pinnacle.
1 year from signing the DA - $750,000 cash and 1,000,000 shares of Pinnacle.
When the Company has established a Mineral Resource Estimate, as defined by NI 43-101, of at least 350,000 gold equivalent ounces in the Inferred category, or 2.5 years from signing the DA, whatever happens first - $1,000,000 cash and 1,000,000 shares of Pinnacle.
When the plant is sufficiently upgraded and all permits received in order to commence production, or 4 years from signing the DA, whatever happens first - $1,000,000 cash. Pinnacle receives a 50% interest in the property (including the mining concessions, machinery, equipment and land) and, going forward, all proceeds of production will be split according to the respective interest levels.
1 year after commencing production or 5 years from signing the DA, whatever happens first - $1,500,000 cash. Pinnacle receives a further 20% interest in the property.
2 years after commencing production or 7 years from signing the DA, whatever happens first - $3,000,000 cash. Pinnacle receives a further 20% interest in the property, totaling 90%. At this point, both parties will decide whether to continue with a participating interest or the vendor will have the option to convert the remaining 10% interest toa 2% NSR royalty.
Totals of $7,500,000 cash (plus approximately $160,000 in back-taxes) and 3,500,000 shares of Pinnacle for a 100% interest subject to a 2% NSR royalty.
Pinnacle will be the operator throughout the term of the agreement, oversee permitting, and make the semi-annual payment of mining taxes, etc. If, at any time, Pinnacle decides not to proceed, the Company could either continue to operate at its level of interest at that time or sell its interest, in which case the vendor would have a Right Of First Refusal (ROFR).
Part and Parcel Financing (All dollar figures in CAD):
Pinnacle will be arranging a private placement to raise gross proceeds of up to $800,000 (the "Financing"), to close concurrently with the closing of the Transaction. The placement will consist of up to 20,000,000 units (the "Units") at a price of $0.04 per Unit, with each Unit comprising one common share ("Share") in the capital of the Company and one-half share purchase warrant ("Warrant"), whereby each whole Warrant shall be convertible into an additional Share at an exercise price of $0.06 for a period of 24 months from the date of issuance. Finder's fees may also be paid.
The net proceeds raised from the Financing will be used for exploration and development of the Potrero Project and for working capital.
All securities to be issued will be subject to a four-month hold period from the date of issuance and subject to TSX Venture Exchange approval. The securities offered have not been registered under the United States Securities Act of 1933 , as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
Due Diligence and Indicative Timeline:
Under the terms of the non-binding LOI, the parties have agreed to a period of up to 3 months to finalize due diligence investigations, file a NI 43-101 Technical Report, complete the aforementioned financing, execute a Definitive Agreement and obtain final TSXV approval.
The Transaction is not a non-arm's-length transaction within the meaning of the policies of the TSXV. A Finder's Fee of 4% of the cash and shares will be payable to an arm's length individual.
The Transaction is considered to be a Fundamental Acquisition by the TSXV. Trading in the shares of the Company on the TSXV has been halted and will remain halted pending formal approval of the Transaction by the TSXV.
Mr. Robert A. Archer, P. Geo, a Qualified Person as defined by National Instrument 43-101, and the President and CEO of the Company, has reviewed, verified and approved for disclosure the technical information contained in this news release.
ABOUT Pinnacle Silver and Gold Corp.
Pinnacle is currently focused on district-scale exploration for precious metals in the prolific Red Lake District of northwestern Ontario. The past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional district-scale potential. Pinnacle is also actively looking for other district-scale opportunities in the Americas, with a particular focus on silver and gold. With a seasoned, highly successful management team and quality projects, Pinnacle Silver and Gold is committed to building long -term , sustainable value for shareholders.
Signed: "Robert Archer" President & CEO
FOR FURTHER INFORMATION CONTACT:
Email: info@pinnaclesilverandgold.com Tel.: +1-877-271-5886 ext. 110
Website: www.pinnaclesilverandgold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release .
1 1 These resources are historical in nature and Pinnacle is not treating these estimates as current mineral resources as a qualified person on behalf of Pinnacle has not done sufficient work to classify them as current mineral resources. As a requirement of the acquisition, Pinnacle will be producing a NI 43-101 compliant technical report, but not a resource estimate at this stage, subject to the approval of the TSX Venture Exchange.
2 Gold and silver equivalents calculated using a gold:silver price ratio of 82 (i.e. 82 g/t silver = 1 g/t gold). The metal prices used to determine the 82:1 ratio are the closing prices in New York on Oct. 25, 2024: gold US$2,747.90 and silver US$33.67.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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VANCOUVER, BRITISH COLUMBIA, September 23, 2024 - TheNewswire - (TSXV: PINN; OTC: NRGOF; Frankfurt: P9J) Pinnacle Silver and Gold Corp. (" Pinnacle " or the " Company ") is pleased to provide an update on corporate activities . As previously stated, the Company is actively engaged in seeking out new silver and gold exploration and development opportunities in the Americas, with particular focus on Mexico and Peru.
Mexico is the largest silver producing country in the world and has more primary silver mines than any other country. Peru is the third largest silver producer and has the largest silver reserves and resources of any country.
Many projects have already been reviewed and due diligence is being conducted on select opportunities, including site visits, and management is encouraged by the quality of assets that are potentially available for acquisition. The focus is on high-grade underground targets, especially in Mexico where there remains some uncertainty regarding open pit mining.
"With the gold price now hitting all-time records on a regular basis and the silver price breaking through $30/ounce once again, now is a great time to lay the foundation for a new precious metals focused company ," stated Robert Archer, Pinnacle President & CEO. "If successful, the addition of a high-quality asset in Mexico or Peru would significantly enhance our existing portfolio of gold projects in the Red Lake District of Ontario."
Depending upon the nature of a successful acquisition, management will determine whether to conduct further exploration in Ontario this year or defer that to next spring, while initiating field work on a new project. Shareholders will be updated accordingly.
Pinnacle has granted an aggregate of 3,500,000 incentive stock options to certain directors, officers, employees and consultants of the Company, pursuant to the Company's Stock Option Plan and subject to TSXV approval, at a price of $0.05 and expiring on September 23, 2029.
Mr. Robert A. Archer, P. Geo, a Qualified Person as defined by National Instrument 43-101, and the President and CEO of the Company, has reviewed, verified and approved for disclosure the technical information contained in this news release.
About Pinnacle Silver and Gold Corp.
Pinnacle is currently focused on district-scale exploration for precious metals in the prolific Red Lake District of northwestern Ontario. The past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional blue-sky potential. Pinnacle is also actively looking for other district-scale opportunities in the Americas, with a particular focus on silver and gold. With a seasoned, highly successful management team and quality projects, Pinnacle Silver and Gold is committed to building long term, sustainable value for shareholders.
Signed: "Robert Archer"
President & CEO
For further information contact :
Email: info@pinnaclesilverandgold.com
Tel.: +1-877-271-5886 ext. 110
Website: www.pinnaclesilverandgold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release .
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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VANCOUVER, BRITISH COLUMBIA, May 29, 2024 TheNewswire (TSXV: PINN, OTC: NRGOF, Frankfurt: X6C) Pinnacle Silver and Gold Corp. (" Pinnacle " or the " Company ") announces that it has closed its previously announced (April 12, 2024) non-brokered private placement (the "Offering"). The placement consists of 17,333,333 units (the "Units") with each Unit comprising one common share ("Share") in the capital of the Company and one-half share purchase warrant ("Warrant"), for gross proceeds of $520,000. Each whole Warrant shall be convertible into an additional Share at an exercise price of $0.05 for a period of 24 months from the date of issuance.
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GMV Minerals is an attractive investment proposition with both gold and lithium projects that have compelling market economics, in well-established mining jurisdictions in the USA.
Junior exploration and development company GMV Minerals (TSXV:GMV,OTCQB:GMVMF) is advancing two major projects in Arizona and Nevada, both positioning the company to take full advantage of a continuing gold bull market and the exponentially rising demand for lithium - a mineral facilitating the global push for decarbonization and energy transition.
The Mexican Hat gold project, located in Arizona, is a high-quality, 5,000-acre gold asset with an inferred resource of 688,000 ounces of gold and compelling positive preliminary economic assessment, including a 10-year mine life, low CAPEX and very strong pre-tax NPV.
In Nevada, GMV has a three-year option agreement to earn a 100 percent interest in the Daisy Creek lithium project located in Lander County. Nevada currently hosts the only producing lithium mine in North America, and is home to Thacker Pass, the largest known lithium deposit in the US. GMV now controls or owns 165 lode claims covering 3,408 acres at Daisy Creek. The claims are close to operating gold mines and have access to existing power lines, water and paved highways.
A low-sulphidation epithermal gold deposit, GMV’s 100-percent-owned Mexican Hat contains an estimated gold resource of 688,000 ounces across 5,000 acres. As GMV's flagship project, the company aims to further expand this resource through drilling, ultimately moving from an inferred resource estimate to a measured and indicated estimate. The mine development itself will consist of two pits — a smaller southeast pit will be mined first, followed by a larger pit to the north.
Mexican Hat project in Arizona
Initial drilling at Dasiy Creek was completed in 2024 with preliminary results showing a thickening in the claystone horizons and increasing in the grade towards the south. The southern-most hole, DC24-1 intersected three distinct claystone horizons totaling 48.7 m of lithium enrichment starting 76.2 m downhole. GMV Minerals plans to conduct water sampling, plus an update of hydrologic, cultural, and environmental studies for permitting in 2025 with conversion and geotechnical drilling in the first and second quarters of the year.
View across the Basin showing historical trenching from the 1970s; material trenched is a claystone.
Located in Lander County, Nevada, Daisy Creek consists of 165 lode claims. Initially targeted for uranium by multiple oil and mining companies in the late 1970s and early 1980s, the project instead proved rich in lithium, displaying values of up to 2 percent in clay-altered volcanic tuffs, which geologists noted was likely hectorite-based.
Because there was very little demand for lithium at the time, Daisy Creek largely sat ignored and forgotten. It was not until several decades later that two of the geologists involved in the project's original drilling program noted multiple similarities between Daisy Creek and Lithium America's highly prospective Thacker Pass discovery. GMV plans to conduct a field program to confirm these observations.
GMV Minerals has completed its initial drill program on the Daisy Project comprised of five targets with 643 meters (2109 feet) of RC and tricone drilling. All holes intercepted various claystone horizons and claystone with felsic ash to lapilli tuffs with a distinctive trend towards more abundant claystone in the central portions of the caldera. A total of 221 samples have been submitted to ALS Global for analysis in Elko Nevada, including 10 Certified Reference Standards.
Ian Klassen has 30 years of experience in public company management, public relations, government affairs, entrepreneurship, media relationship strategies and project management. Klassen is the president of a North American mineral exploration company and sits on the board of directors of several private and public companies. Previous to his management activities within private and public companies, he held a variety of positions within federal Canadian politics, including as senior political advisor to the Minister of State (Transportation), and as chief of staff, Office of the Speaker of the Canadian House of Commons. Klassen graduated with an undergraduate honors degree from Western University in 1989. In 1992, he received the Commemorative Medal for the 125th Anniversary of the Confederation of Canada in recognition of his significant contribution to his community and country.
Dr. D.R. Webb graduated with a geological engineering degree from the University of Toronto, where he obtained awards for the highest marks in both third-year and fourth-year field camps. He obtained his M.Sc. and Ph.D. in geological sciences at Queen’s University and Western University, respectively, where his focus was on the structural and geochemical controls of gold mineralization in the Yellowknife Greenstone Belt. Webb is credited for discovering both the largest granitic-hosted gold deposit in the Northwest Territories and the largest gold deposit in the Yellowknife Greenstone Belt found in the past 30 years. He served as president and director of Tyhee Gold, where he and his team developed a high-grade gold deposit into production, becoming Mongolia’s first hard-rock gold mine. He later advanced his discoveries in Yellowknife into a multimillion-ounce resource, completed economic and engineering analysis and initiated both feasibility studies and permitting.Webb also developed the Mon Gold Mine into the most recently permitted gold mine in the Yellowknife Gold Belt, operating for seven years and then shutting down in 1997. Webb is a consultant to the industry, providing services throughout the world and sits on the board of Lake Victoria Mining Company and Metallis Resources, several private corporations, and is on the advisory council for the Centre of Training Excellence in Mining. Webb co-authored the qualifying report on Fortune Minerals’ Nico Deposit, recommending the acquisition of what is now the largest bismuth resource in the world.
Michelle Pillon is an accountant with several years of experience in the junior mining exploration sector. Since 1988, Pillon has been providing accounting and regulatory assistance to public and private companies.
Ronald Handford is a mining and technology entrepreneur and advisor with 18 years of CEO and senior executive experience. He has raised or participated in raising almost $80 million in private and public equity and has extensive investor, banking, industry and government contacts in North America, Europe and Asia.
CMC Metals Ltd. (TSX-V: CMB) (Frankfurt: ZM5P) ("CMC" or the "Company") is pleased to announce it has entered into a share purchase agreement with North Bay Resources Inc. (OTC-US: NBRI, "NBRI") to acquire an additional 14.5% of the Bishop Gold Mill (the " Mill "). This brings NBRI's total ownership to 70%. The remaining 30 % of the mill will be owned by 1436132 B.C. Ltd, a privately held corporation.
The 96 ton per day mill is located north of Bishop, California. NBRI has recently acquired and installed additional gold extraction equipment including a centrifuge in the gravity circuit ( see NBRI press release dated January 10, 2025 ). Based on a December 2024 metallurgical study ( see NBRI press release dated December 16, 2024 ) NBRI has estimated a 97% recovery of gold from their Fran Gold Project at the Bishop mill. NBRI has estimated material from the Fran Gold Project to have a head grade of 0.9 ounces of gold per ton. Material from the Fran Project has been recently transported to the Bishop mill for test processing.
The Company has entered into an agreement with NBRI and the current minority owner 1436132 BC Ltd., a private Canadian company, for NBRI to acquire an additional 14.5% of 0877887 BC Ltd. ("087"), a former subsidiary of the Company. The primary asset of 087 is the Bishop Gold Mill. Within this transaction, North Bay acquires a total interest of 70% of 087, in addition to prior payments and issuances to date, by assuming the amended cash payments and common share transfers to CMC as follows:
Cash Payments* :
(*all cash payments are in USD)
Share Payment :
Kevin Brewer, President and CEO of CMC notes "We are very pleased to have completed this transaction. This is generating further value from the divesting of the Bishop Mill that we expect will provide us with a significant return in the foreseeable future. We look forward to NBRI's continued success with this project."
As a result of this final arrangement between the parties, upon completion of the cash and share payments CMC will no longer hold a security interest in the Mill. After this acquisition, CMC will hold a total of 1,275,555,556 common shares of NBRI. NBRI remains the Operator of the Mill.
Qualified Person
Qualified Person Kevin Brewer, a registered professional geoscientist, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.
About CMC Metals Ltd.
CMC Metals Ltd. is a growth stage exploration company focused on the exploration of high-grade silver-lead-zinc critical mineral carbonate replacement and skarn deposits in the Rancheria Silver District in Northern British Columbia and Yukon. Their properties include their flagship Silverknife project which is immediately adjacent to Coeur Mining's Silvertip deposit, one of the highest-grade underground CRD-vein deposits in the world, the Silver Hart Deposit and Blue Heaven claims (Yukon) and the Amy claims (north-central British Columbia). Other projects include the Bridal Veil (Newfoundland) - an orogenic gold target, and Logjam (Yukon) a silver-gold target with porphyritic association.
On behalf of the Board:
"Kevin Brewer"
Kevin Brewer, President, CEO and Director
CMC METALS LTD.
For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc. (Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (709) 327 8013
kbrewer80@hotmail.com
Suite 1000-409 Granville St., Vancouver, BC, V6C 1T2
To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or contact Mr. Kevin Brewer directly.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
"This news release may contain certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future exploration work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects, to carry out the work and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, the impact of the constantly evolving COVID-19 pandemic crisis and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation."
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CMC Metals Ltd. (TSX-V: CMB) (Frankfurt: ZM5P) ("CMC" or the "Company") is pleased to announce it has entered into a share purchase agreement with North Bay Resources Inc. (OTC-US: NBRI, "NBRI") to acquire an additional 14.5% of the Bishop Gold Mill (the " Mill "). This brings NBRI's total ownership to 70%. The remaining 30 % of the mill will be owned by 1436132 B.C. Ltd, a privately held corporation.
The 96 ton per day mill is located north of Bishop, California. NBRI has recently acquired and installed additional gold extraction equipment including a centrifuge in the gravity circuit ( see NBRI press release dated January 10, 2025 ). Based on a December 2024 metallurgical study ( see NBRI press release dated December 16, 2024 ) NBRI has estimated a 97% recovery of gold from their Fran Gold Project at the Bishop mill. NBRI has estimated material from the Fran Gold Project to have a head grade of 0.9 ounces of gold per ton. Material from the Fran Project has been recently transported to the Bishop mill for test processing.
The Company has entered into an agreement with NBRI and the current minority owner 1436132 BC Ltd., a private Canadian company, for NBRI to acquire an additional 14.5% of 0877887 BC Ltd. ("087"), a former subsidiary of the Company. The primary asset of 087 is the Bishop Gold Mill. Within this transaction, North Bay acquires a total interest of 70% of 087, in addition to prior payments and issuances to date, by assuming the amended cash payments and common share transfers to CMC as follows:
Cash Payments* :
(*all cash payments are in USD)
Share Payment :
Kevin Brewer, President and CEO of CMC notes "We are very pleased to have completed this transaction. This is generating further value from the divesting of the Bishop Mill that we expect will provide us with a significant return in the foreseeable future. We look forward to NBRI's continued success with this project."
As a result of this final arrangement between the parties, upon completion of the cash and share payments CMC will no longer hold a security interest in the Mill. After this acquisition, CMC will hold a total of 1,275,555,556 common shares of NBRI. NBRI remains the Operator of the Mill.
Qualified Person
Qualified Person Kevin Brewer, a registered professional geoscientist, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.
About CMC Metals Ltd.
CMC Metals Ltd. is a growth stage exploration company focused on the exploration of high-grade silver-lead-zinc critical mineral carbonate replacement and skarn deposits in the Rancheria Silver District in Northern British Columbia and Yukon. Their properties include their flagship Silverknife project which is immediately adjacent to Coeur Mining's Silvertip deposit, one of the highest-grade underground CRD-vein deposits in the world, the Silver Hart Deposit and Blue Heaven claims (Yukon) and the Amy claims (north-central British Columbia). Other projects include the Bridal Veil (Newfoundland) - an orogenic gold target, and Logjam (Yukon) a silver-gold target with porphyritic association.
On behalf of the Board:
"Kevin Brewer"
Kevin Brewer, President, CEO and Director
CMC METALS LTD.
For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc. (Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (709) 327 8013
kbrewer80@hotmail.com
Suite 1000-409 Granville St., Vancouver, BC, V6C 1T2
To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or contact Mr. Kevin Brewer directly.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
"This news release may contain certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future exploration work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects, to carry out the work and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, the impact of the constantly evolving COVID-19 pandemic crisis and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation."
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HIGHLIGHTS
The results provide strong support for Saturn’s heap leach development strategy for Apollo Hill, reinforcing the continuity of mineralisation and the robustness of the deposit.
This announcement includes results from 50 drill-holes and 7,042m of assays (Appendix 1) from drilling completed at Apollo Hill last year. Drill-hole details are listed in Appendix 2. All holes reported intersections above the resource cut-off grade.
Figure 1 shows reported intersections on a simplified geological cross-section along with planned drill holes and the 2023 Mineral Resource Block model. Reported drill-hole locations and significant results are illustrated in Plan View in Figure 2.
Saturn’s Managing Director Ian Bamborough said: “These impressive results, as illustrated in Figure 1, show how the Apollo Hill deposit continues to develop. I am pleased with the deposit’s trajectory as we progress with drilling. With work nearing completion on the next interim resource upgrade at Apollo Hill, due next month, these results will feed into a subsequent resource upgrade targeted for Q2 2025, which will in turn underpin the Pre-Feasibility Study scheduled for completion later this year. We look forward to reporting additional rounds of results as we continue with our most comprehensive drill program at Apollo Hill to date.”
Figure 1 – Simplified geological cross-section showing recent results, mineralisation interpretation, Mineral Resource block model and planned RC holes; Section location shown in plan on Figure 2 (A-A1).
Figure 2 – Plan Overview, Apollo Hill RC Holes. Previously reported holes >1 Gram Metre (g/t Au x Metres) with all holes reported in this announcement illustrated. 2023 Apollo Hill Mineral Resource1 Pit Shell Outline seen at 350RL (Average Surface RL); Figure 1 cross-section illustrated as line A-A1 on this diagram.
Assays remain pending from 38 holes and 8,200m, with a further 25,000m of drilling scheduled for the first half of 2025.
Drilling operations have resumed on-site.
As noted above, Saturn is currently working on an interim upgrade of Apollo Hill’s 1.84Moz1 Mineral Resource (anticipated for release next month) which will include results from 34 holes and 9,402m of extensional focused drilling recently reported to the ASX on 28 October 2024.
These latest results will be utilised in a future resource estimate planned as part of Saturn’s bulk tonnage heap leach PFS, scheduled for completion later this year.
Click here for the full ASX Release
This article includes content from Saturn Metals, 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.
Assays have been received from rock chips collected in December 2024 at the Clifton East Prospect.
Andrew Ford, GM Exploration
“The new rock chips from the Clifton East prospect, combined with the recent assays from St Patrick’s Well and other regional targets continue to illustrate the potential of this under- explored portion of the Leonora-Laverton District. The Augustus geology team returned to site on the 20th of January to continue the mapping and sampling program.”
Figure 1: Regional Tenement Packages and Gold Projects
Background
Augustus Minerals Limited( ASX: AUG) holds the exploration licenses and applications comprising the Music Well Gold Project (“Project”) located 35km north of Leonora in the Leonora/Laverton Greenstone Belt of Western Australia.
Comprising ten granted exploration licences covering an area of 1,345km2, making the Project one of the largest exploration packages in the region (Figures 1 and 2).
Click here for the full ASX Release
This article includes content from Augustus Minerals, 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.
North Bay Resources Inc. (the " Company " or " North Bay ") (OTC: NBRI) is pleased to announce it has entered into a share purchase agreement to acquire an additional 14.5% of the Bishop Gold Mill (the " Mill "), bringing total ownership to 70%. The 96 ton per day mill is located north of Bishop, California. The Company has recently acquired and installed additional gold extraction equipment including centrifuge in a gravity primary position ( see press release dated January 10, 2025 ) based on a December 2024 metallurgical study ( see press release dated December 16, 2024 ) showing a 97% recovery of gold, with head grade of 0,9 ounces per ton, from its Fran Gold Project.
The Company has entered into an agreement with the note holder, CMC Metals Ltd. (TSXV: CMB) ("CMC"), and the current minority owner 1436132 BC Ltd., a private Canadian company, to acquire an additional 14.5% of 0877887 BC Ltd. ("087") for a total interest of 70%. The primary asset of 087 is the Bishop Gold Mill. Within this transaction, North Bay acquires a total interest of 70% of 087, in addition to prior payments and issuances to date, by assuming the amended cash payments and common share transfers to CMC as follows:
Cash Payments:
Share Payments:
These are the final payments due under the Purchase Agreement and upon completion CMC will no longer hold a security interest in the Mill. North Bay will remain the Operator. The Company CEO, Jared Lazerson, is the CEO and a shareholder of 1436132 B.C. Ltd, but has no affiliation with CMC.
Corporate Update
The Company has entered an agreement with Investing News Network for media services at a rate of $2,500 CAD per month for 1 year effective March 1, 2025. The Company has amended an agreement with the Sabean Group for media services from $20,000 per month to $10,000 per month effective January 1, 2025.
On behalf of the Board of Directors of
North Bay ResourceS INC.
Jared Lazerson
CEO
info@northbay-resources.com
northbay-resources.com
X: @NorthBayRes
YouTube: North Bay Resources - YouTube
LinkedIn: North Bay Resources Inc | LinkedIn
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
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