Zinc One Files National Instrument 43-101 Technical Report for Resource Estimate at Bongara Zinc Mine Project, Peru

Vancouver, British Columbia–(Newsfile Corp. – March 20, 2019) – Zinc One Resources Inc. (TSXV: Z) (OTC Pink: ZZZOF) (FSE: RH33) (“Zinc One” or the “Company“) announces that it has filed on SEDAR the National Instrument (“NI”) 43-101-compliant Technical Report for the Resource Estimate at the Bongará Zinc Mine project in north-central Peru. The estimate was prepared for the Company by Watts Griffis and McOuat Limited (“WGM“).

On February 5, 2019, the Company reported an Indicated Mineral Resource of 812,000 tonnes averaging 18.9% Zn containing 339,000,000 pounds of Zn at a 10% Zn cut-off and an Inferred Mineral Resource of 1,339,000 tonnes averaging 16.8% Zn containing 496,000,000 pounds of Zn at a 10% Zn cut-off. Since then, modeling on the Bongarita zinc-oxide deposit, which is hosted by soils, has added 10,000 tonnes of 13.8% containing 3,000,000 pounds of Zn as Indicated Mineral Resource and 700 tonnes of 12.7% Zn for 200,000 pounds of contained Zn as Inferred Mineral resource.

Base Case Mineral Resource Estimate – Bongara Zinc Mine Project (at a 10% Zn cut-off)

10% cutoff Indicated Inferred
Zone Tonnes
 Zn, % Zn, lb Tonnes    Zn, % Zn, lb
Mina Chica 339,000 19.3 144,000,000 252,000 16.9 94,000,000
Mina Grande Norte 140,000 21.0 65,000,000 450,000 16.5 164,000,000
Mina Grande Centro 172,000 17.1 65,000,000 201,000 16.0 71,000,000
Mina Grande Sur 161,000 18.2 65,000,000 436,000 17.4 167,000,000
Bongarita 10,000 13.8 3,000,000 700 12.7 200,000
822,000
18.8 342,000,000 1,339,700
16.8 496,200,000

Notes for Table 1 & 2

  1. The Mineral Resource Estimates in this disclosure were completed by Watts, Griffis and McOuat Limited (“WGM“), an independent firm of geological and mining consultants.
  2. The effective date of this mineral resource estimate is February 28 2019 and includes all sampling results from drilling and test pitting to the end of 2018.
  3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability but are required to have reasonable prospects for eventual economic extraction. The quantity and grade of reported Inferred Mineral Resources in this estimation are less certain in nature because the amount of exploration has been insufficient to provide the level of confidence necessary to classify them as an Indicated or Measured Mineral Resource. It is uncertain if further exploration will result in upgrading them to an Indicated or Measured Mineral Resource category.
  4. The Mineral Resource estimates in this news release were estimated using current Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) standards, definitions and guidelines in accordance with Industry Best Practices.
  5. Mineral Resources were estimated using a cut-off grade of 10% Zn.
  6. Numbers may not add due to rounding. The Mineral Resource estimate was calculated using ordinary kriging methodology. A block model was constructed with block dimensions of 5 x 5 x 5 meters. Zn assays were capped at 40% Zn.
  7. A total of 748 drillholes and pits totalling 10,498 m were in the database used for estimation. Only diamond drill holes were used for estimating Indicated Resources; diamond drill holes and pits were used for estimating Inferred Resources. The drill holes were drilled at various orientations. Drillhole spacing is approximately 25 to 30m in areas where resources are estimated. Details of the drill campaign are set out in various news releases from March 29, 2018 to November 15, 2018.
  8. A bulk density of 1.90 was applied using the geological block model density field.

The Bongará Zinc Mine project contains an 8-kilometre trend with known near-surface, high grade zinc mineralization. Very little systematic exploration has been completed along this trend, except for drilling at the Cristal Project (northwest end of the trend) that identified a body of high-grade zinc mineralization. This provides an exciting opportunity to discover zinc-rich deposits in future exploration campaigns.

The zinc mineralization at the Bongará Zinc Mine project is classified as a Mississippi Valley-type (“MVT“) deposit and is mostly hosted by strongly dolomitized brecciated limestones beds. The mineralization can also occur as tabular bodies with irregular boundaries, which is a characteristic of that mineralization encountered along the periphery of breccias, especially at Mina Chica. The original MVT sulphide mineralization has been oxidized and now occurs as hydrozincite (zinc-oxide mineral), smithsonite (zinc-carbonate mineral), hemimorphite (zinc-silicate mineral), and zinc-aluminum-iron silicates.

The former Bongará Mine operated during 2007-08, successfully producing zinc from this type of mineralization using a Waelz kiln for processing. The kiln does not require copious amounts of water and an electrical grid, and the waste product is slag that can be used as road material, among other things, thus precluding a permanent tailings storage facility and minimizing initial and sustaining capital outlays.

Qualified Persons

The technical content of this news release has been reviewed, verified and approved by Al Workman, P.Geo., senior geologist and Vice-President of WGM and John Reddick, senior WGM Associate resource modelling engineer, both Qualified Persons under National Instrument 43-101. WGM is an independent firm of consulting geologists and engineers that have visited the project regularly since 2014. WGM assisted Zinc One in designing, monitoring, and auditing its quality control program.

About Zinc One Resources Inc.

Zinc One’s key assets are the Bongará Zinc Mine Project and the Charlotte-Bongará Zinc Project in north-central Peru. The Bongará Zinc Mine Project was in production from 2007 to 2008 but was closed due to the Global Financial Crisis and the concurrent decrease in the zinc price. Past production included >20% zinc grades and recoveries over 90% from surface and near-surface zinc-oxide mineralization. High-grade, zinc-oxide mineralization is known to outcrop between the mined area and the Charlotte-Bongará and Cristal Project areas, which are over six kilometres to the north-northwest and where past drilling also intercepted various near-surface zones with high-grade zinc as well.

Additional Information

Gunther Roehlig
Zinc One Resources Inc.
Phone: (604) 683-0911
info@zincone.com
www.zincone.com

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Zinc One cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Zinc One’s limited operating history, its proposed exploration and development activities on the Bongará Zinc Oxide Project and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Zinc One does not undertake to publicly update or revise forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43533

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Vendetta Files NI 43-101 Technical Report – Pegmont Updated Mineral Resource Estimate and Preliminary Economic Assessment

Vancouver, British Columbia–(Newsfile Corp. – March 14, 2019) – Vendetta Mining Corp. (TSXV: VTT) announces the filing of the National Instrument 43-101 (“NI 43-101”) Technical Report (the “Report”) entitled “Updated Mineral Resource Estimate and Preliminary Economic Assessment of the Pegmont Lead-Zinc Project”.

The Report which is dated March 14, 2019 and is effective January 22, was prepared in compliance with National Instrument 43-101- Standards for Disclosure for Mineral Projects (“NI 43-101”). The Report is available under Vendetta’s profile on SEDAR at www.sedar.com and will be placed on Vendetta’s web site www.vendettaminingcorp.com.

The Report was prepared by a team of independent consultants from AMC Mining Consultants (Canada) Ltd., (AMC), GR Engineering Services (GRES), and AARC Environmental Solutions (AARC).

The Report supports the scientific and technical disclosure in the updated Mineral Resource and Preliminary Economic Assessment estimates contained in the Company’s news release dated January 28, 2019.

About the Pegmont Lead Zinc Project

Pegmont is situated in the Mount Isa – McArthur Mineral Province, which hosts one of the world’s richest endowments of lead-zinc-silver mineralization, including several world-class lead-zinc-silver mines.

The current Mineral Resource at Pegmont:

Indicated 5,758 Kt @ 6.5% Pb, 2.6% Zn, 11 g/t Ag

Inferred 8,277 Kt @ 5.1% Pb, 2.8% Zn, 8 g/t Ag

The results of a Preliminary Economic Assessment (“PEA”) on Pegmont were released by the Company on January 28, 2019 (see Venetta news release dated January 28, 2019). The PEA outlined a 10-year mine plan that generates a strong economic return with a pre-tax IRR of 32% (after tax 24%) and NPV8% of $201M ($128M after tax) for the base case long term consensus metal prices assumed ($0.91/lb lead, $1.09/lb zinc and $16.50/oz silver).

The spot price and exchange rate case demonstrates the strong sensitivity to metal prices with a pre-tax IRR of 37% (after tax 27%) and NPV8% of $249M ($158M after tax), using metal prices as of January 22, 2019 of $0.94/lb lead, $1.25/lb zinc and $15.30/oz silver and US$:A$ of $0.71.

The PEA identified further project enhancements and Vendetta has identified several high priority exploration targets.

About Vendetta Mining Corp.

Vendetta Mining Corp. is a Canadian junior exploration company engaged in acquiring, exploring, and developing mineral properties with an emphasis on lead and zinc. It is currently focused on advanced stage exploration projects in Australia, the first of which is the Pegmont Lead Zinc project. Additional information on the Company can be found at www.vendettaminingcorp.com.

Qualified Person

Peter Voulgaris, MAIG, MAusIMM, a Director of Vendetta, is a non-independent Qualified Person as defined by NI 43-101. Mr. Voulgaris has reviewed the technical content of this press release, and consents to the information provided in the form and context in which it appears.

ON BEHALF OF THE BOARD OF DIRECTORS

“Michael Williams”

Michael Williams
President & CEO

Tel: 604-484-7855

Forward Looking Information

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

This release includes certain statements that may be deemed to be “forward‐looking statements” within the meaning of the applicable Canadian Securities laws. All statements in this release, other than statements of historical facts are forward looking statements, including the anticipated time and capital schedule to production; estimated project economics, including but not limited to, mill recoveries, payable metals produced, production rates, payback time, capital and operating and other costs, IRR and mine plan; expected upside from additional exploration; expected capital requirements; and other future events or developments. Forward-looking statements include statements that are predictive in nature, are reliant on future events or conditions, Forward‐looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar expressions.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking statements. Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward‐looking statements. Factors that could cause actual results to differ materially from those in forward‐looking statements include, but are not limited to, changes in commodities prices; changes in expected mineral production performance; unexpected increases in capital costs; exploitation and exploration results; continued availability of capital and financing; differing results and recommendations in the Feasibility Study; and general economic, market or business conditions. In addition, forward‐looking statements are subject to various risks, including but not limited to operational risk; political risk; currency risk; capital cost inflation risk; that data is incomplete or inaccurate; the limitations and assumptions within drilling, engineering and socio‐economic studies relied upon in preparing the PEA; and market risks. The reader is referred to the Company’s filings with the Canadian securities regulators for disclosure regarding these and other risk factors, accessible through Vendetta Mining’s profile at http://www.sedar.com

There is no certainty that any forward‐looking statement will come to pass and investors should not place undue reliance upon forward‐looking statements. The Company does not undertake to provide updates to any of the forward‐looking statements in this release, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43420

Zinc One Announces Annual General Results and Grants Stock Options

Vancouver, British Columbia–(Newsfile Corp. – March 13, 2019) – Zinc One Resources Inc. (TSXV: Z) (OTC Pink: ZZZOF) (FSE: RH33) (“Zinc One” or the “Company“) is pleased to announce the results of voting at its annual general meeting (“AGM”) of shareholders which was held on March 13, 2019, in Vancouver, British Columbia.

Shareholders at the AGM approved all matters including the appointment of the four incumbent directors, being Dr. William C. Williams, Barry Girling, Greg Crowe and Gunther Roehlig, for the ensuing year, the re-appointment of Charlton & Co. LLP as auditors of the Company and the renewal of the Company’s 10% rolling stock option plan.

Option Grant

The Company also announces that it has granted a total of 4,950,000 stock options to directors, officers, employees and consultants. The options have a 5-year term and are exercisable at a price of $0.10 per option.

About Zinc One Resources Inc.

Zinc One’s key assets are the Bongará Zinc Mine Project and the Charlotte-Bongará Zinc Project in north-central Peru. The Bongará Zinc Mine Project was in production from 2007 to 2008 but was closed due to the Global Financial Crisis and the concurrent decrease in the zinc price. Past production included >20% zinc grades and recoveries over 90% from surface and near-surface zinc-oxide mineralization. High-grade, zinc-oxide mineralization is known to outcrop between the mined area and the Charlotte-Bongará and Cristal Project areas, which are over six kilometres to the north-northwest and where past drilling also intercepted various near-surface zones with high-grade zinc as well.

Additional Information

Gunther Roehlig
Director
Zinc One Resources Inc.
Phone: (604) 683-0911
Email: info@zincone.com
www.zincone.com

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Zinc One cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Zinc One’s limited operating history, its proposed exploration and development activities on the Bongará Zinc Oxide Mine Project and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Zinc One does not undertake to publicly update or revise forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43404

Vendetta Announces a $1.5 Million Financing and Evaluating Potential Dual Listing on the Australian Stock Exchange

Vancouver, British Columbia–(Newsfile Corp. – March 11, 2019) – Vendetta Mining Corp. (TSXV: VTT) (“Vendetta” or the “Company”) is pleased to announce a non-brokered private placement (the “Offering”) for gross proceeds of up to CAD$1.5 million.

Private Placement

The Company plans to issue up to 12 million units at $0.125 cents per unit to raise gross proceeds of $1.5 million (subject to TSX Venture Approval). Each unit will comprise one common share and one-half common share purchase warrant at an exercise price of $0.18 for a period of two years following the closing of the financing.

All Shares to be issued pursuant to the Offering will be subject to a four-month hold period under applicable securities laws in Canada. All or a portion of this placement could be subject to finder’s fees or commissions.

The net proceeds of the private placement will be used to advance the development of the Pegmont Lead-Zinc project and general working capital.

ASX Dual Listing

The Company will commence investigating the merits of a duel listing on the Australian Stock Exchange (“ASX”). The Company believes that dual listing on ASX could provide a larger pool of investors to support development funding of the Pegmont Lead-Zinc Project.

Michael Williams, Vendetta’s President and CEO commented, “This financing will allow the Company to complete Queensland government work commitments at Pegmont for 2019, the drilling will focus on expanding the resource around the two Zone 3 underground panels and investigate exploration targets along strike of the high-grade Bridge Zone.

“Having successfully outlined the potential economics of Pegmont in the PEA we now feel that duel listing on the ASX could further raise the profile of Vendetta within Australia and offer enhanced assess to Australian institutional investors, many of which are restricted to only investing on the ASX.”

The Company continues to assess options to meet the final payment, a A$3M pre-payment of the royalty to conclude the acquisition of Pegmont.

About Pegmont

The results of a Preliminary Economic Assessment (“PEA”) on Pegmont were released by the Company in January 2019 (see Venetta news release dated January 28, 2019). The PEA outlined a 10-year mine plan that generates a strong economic return with a pre-tax IRR of 32% (after tax 24%) and NPV8% of $201M ($128M after tax) for the base case long term consensus metal prices assumed ($0.91/lb lead and $1.09/lb zinc). The spot price and exchange rate case demonstrates the strong sensitivity to metal prices to with a pre-tax IRR of 37% (after tax 27%) and NPV8% of $249M ($158M after tax), $0.94/lb lead and $1.25/lb zinc.

Further project enhancements have been identified along with high priority exploration targets.

About Vendetta Mining Corp.

Vendetta Mining Corp. is a Canadian junior exploration company focused on advanced stage exploration and development at the Pegmont Lead Zinc Project in Australia. Vendetta has an option to acquire a 100% interest. Additional information on the Company can be found at www.vendettaminingcorp.com and under the Vendetta profile at www.sedar.com.

Qualified Person

Peter Voulgaris, MAIG, MAusIMM, a Director of Vendetta, is a non-independent Qualified Person as defined by NI 43-101. Mr. Voulgaris has reviewed the technical content of this press release, and consents to the information provided in the form and context in which it appears.

ON BEHALF OF THE BOARD OF DIRECTORS

“Michael Williams”

Michael Williams
President & CEO

Forward Looking Information

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

This release includes certain statements that may be deemed to be “forward‐looking statements” within the meaning of the applicable Canadian Securities laws. All statements in this release, other than statements of historical facts are forward looking statements, including the anticipated time and capital schedule to production; estimated project economics, including but not limited to, mill recoveries, payable metals produced, production rates, payback time, capital and operating and other costs, IRR and mine plan; expected upside from additional exploration; expected capital requirements; and other future events or developments. Forward-looking statements include statements that are predictive in nature, are reliant on future events or conditions, Forward‐looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar expressions.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking statements. Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward‐looking statements. Factors that could cause actual results to differ materially from those in forward‐looking statements include, but are not limited to, changes in commodities prices; changes in expected mineral production performance; unexpected increases in capital costs; exploitation and exploration results; continued availability of capital and financing; differing results and recommendations in the Feasibility Study; and general economic, market or business conditions. In addition, forward‐looking statements are subject to various risks, including but not limited to operational risk; political risk; currency risk; capital cost inflation risk; that data is incomplete or inaccurate; the limitations and assumptions within drilling, engineering and socio‐economic studies relied upon in preparing the PEA; and market risks. The reader is referred to the Company’s filings with the Canadian securities regulators for disclosure regarding these and other risk factors, accessible through Vendetta Mining’s profile at www.sedar.com.

There is no certainty that any forward‐looking statement will come to pass and investors should not place undue reliance upon forward‐looking statements. The Company does not undertake to provide updates to any of the forward‐looking statements in this release, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43332

Southern Silver Intersects 2.0m averaging 409g/t Ag, 0.9% Cu, 0.8% Pb and 8.4% Zn (871g/t AgEq; 24.6% ZnEq) in Drilling at Cerro Las Minitas

Vancouver, British Columbia–(Newsfile Corp. – February 28, 2019) – Southern Silver Exploration Corp. (TSXV: SSV) (“Southern Silver”) reported today final results from the 2018 core drilling exploration program on the Cerro Las Minitas project. Twenty-one drill holes totaling 10,157 metres were completed in both the Area of the Cerro and various other targets in the more recently acquired Ag-Au epithermal CLM West claim group.

Eleven core holes totaling 6,632 metres were completed in the Area of the Cerro with a focus towards further mineral resource expansion. Drilling tested the lateral extensions of mineralization in the North Skarn target and the Las Victorias target and grade gaps in the central part of the Skarn Front target.

Highlights from the most recent drilling in the central part of the Skarn Front include:

  • a 2.6m down hole interval (2.0m est. True Thickness) averaging 409g/t Ag, 0.9% Cu, 0.8% Pb and 8.4% Zn (871g/t AgEq; 24.6% ZnEq) including a 0.6m (0.5m est. TT) grading 477g/t Ag, 3.7% Cu, 0.6% Pb and 32.3% Zn (2181g/t AgEq; 61.1% ZnEq) in drill hole 18CLM-115; and
  • a 1.0m down hole interval (0.8m est. TT) averaging 640g/t Ag, 1.0% Cu, 16.7% Pb and 22.4% Zn (2117g/t AgEq; 59.8% ZnEq) in drill hole 18CLM-115;

The drilling fills a grade gap within the Skarn Front deposit and demonstrates the continuity of the higher-grade mineralization with previously reported intercepts from drill holes 15CLM-081 (16.8m down hole interval 136g/t Ag, 0.5% Cu, 0.3% Pb and 4.5% Zn or 361g/t AgEq; see NR-14-15, December 1, 2015) and 18CLM-091 (15.1m down hole interval averaging 39g/t Ag, 0.1% Pb and 10.2% Zn (410.7g/t AgEq; 11.6% ZnEq; see NR-01-17, January 19, 2017).

In the Las Victorias zone, drill hole CLM-117 tested a 200 metre lateral and down-dip step-out to the southeast of earlier drilling and returned:

  • a 2.3m down hole interval (1.2m est. TT) averaging 202g/t Ag, 1.6g/t Au, 3.8% Pb, and 1.8% Zn (501g/t AgEq; 14.2% ZnEq); and
  • a 2.8m down hole interval (2.4 est TT) averaging 71g/t Ag, 0.1% Pb and 3.3% Zn (220g/t AgEq; 6.2% ZnEq).

These new intercepts help maintain and extend continuity within the 300m x 300m tested area, particularly of the high-grade hanging wall mineralization, in Las Victorias zone which remains open down dip and laterally.

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Figure 1: Drill hole locations, Area of the Cerro, Cerro Las Minitas project

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CLM West Claim Group

Southern Silver also reported that 3,525 metres of core drilling was completed in 10 holes on the CLM West claim group as part of the 2018 CLM program. Drilling targeted vein and breccia systems in younger Tertiary-age volcanic rocks similar to those identified in the adjacent Avino Gold Silver Mine, located 8 kilometres to the northwest and the La Preciosa deposit (Coeur Mining) located 25 kilometres to the west

The 2018 drill results on CLM West are highlighted by a previously reported 3 metre (downhole interval) intercept grading 168g/t Ag (see NR-12-18, October 29, 2018) from a strongly oxidized and broken zone located in the upper part of drill hole 18CLMW-007 and two deeper anomalous pathfinder zones with strongly enriched arsenic and antimony including 32.2m of 1073ppm As and 676ppm Sb. The intercepts correlate to the Durazno breccia structure, which can be traced in outcrop on surface mapping for over 1.5km in the northern part of the claim group.

Further drilling confirmed an extension of the anomalous arsenic and antimony in hole 18CLMW-007 including 3m of 4.9g/t Ag, 1145ppm As and 676ppm Sb and strongly elevated values of Ag, Sb and As in drill holes 18CLMW-008 and -009 including 5.5m of 2.1g/t Ag, 629ppm As and 68ppm Sb in 18CLM-009.

The identification of such enriched silver and pathfinder metals in this initial phase of wide-spread drill testing on the CLM West claims may be significant in suggesting a potential proximity to much more precious-metal enriched (Ag-Au) deposits. Similar pathfinder-ore relationships are identified on the adjacent La Preciosa and Avino mineral systems and are described in classic models of vein and breccia epithermal systems.

This conclusion is supported by surface mapping in the northern part of the CLM West claim group which indicates a younger stratigraphy than that which hosts the adjacent La Preciosa and Avino deposits suggesting that the ultimate targets of this exploration may remain at depth within the lower Tertiary volcanic package and along the currently mapped surface structures.

A compilation of the current down hole and surface data in the area of 18CLMW-007 and 18CLMW-008 has identified several new targets ready for follow-up drill testing.

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Table 1: Select Summary Assays from 2018 Exploration on CLM West claims

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Analyzed by FA/AA for gold and ICP-AES by ALS Laboratories, North Vancouver, BC. Silver (>100ppm), copper, lead and zinc (>1%) overlimits assayed by ore grade ICP analysis, High silver overlimits (>1500g/t Ag) and gold overlimits (>10g/t Au) re-assayed with FA-Grav. High Pb (>20%) and Zn (>30%) overlimits assayed by titration.
 

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Figure 2: Drill hole locations, CLM West Claim Group, Cerro Las Minitas project

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Table 2: Select Summary Assays from 2018 Exploration in the Area of the Cerro

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Analyzed by FA/AA for gold and ICP-AES by ALS Laboratories, North Vancouver, BC. Silver (>100ppm), copper, lead and zinc (>1%) overlimits assayed by ore grade ICP analysis, High silver overlimits (>1500g/t Ag) and gold overlimits (>10g/t Au) re-assayed with FA-Grav. High Pb (>20%) and Zn (>30%) overlimits assayed by titration. AgEq and ZnEq were calculated using average metal prices of: US$18.2/oz silver, US$1240/oz gold, US$2.8/lbs copper and US$0.91/lbs lead and US$0.94/lbs zinc. AgEq and ZnEq calculations did not account for relative metallurgical recoveries of the metals. Ore-grade composites calculated using a 80g/t AgEq cut-off and <20% internal dilution, except where noted; anomalous intercepts calculated using a 10g/t AgEq cut-off.

Cerro Las Minitas Project: Summary and Conclusions:

Drilling in the Area of the Cerro as part of the 2018 exploration program successfully extended mineralization at the North Skarn and Las Victorias target areas; filled grade gaps within the Skarn Front deposit and extended the continuity of high-grade mineralization within the known target areas.

Compilation and assessment of the current drill data is underway toward a NI43-101 Mineral Resource update. Pre-development studies continue to de-risk the project for investors with a second phase of metallurgical characterization of the Skarn Front and Blind – El Sol target presently being conducted. New drill targeting is contemplated to further extend mineralization at depth and to the southeast in the Las Victorias zone and on the eastern side of the Central Intrusion at the South Skarn and Mina La Bocona target areas.

Work on the CLM West claims has intersected strongly elevated Ag-As-Sb values in shallow drilling (100m to 300m depth) in the northern part of the claims and identified multiple targets for follow-up drill testing.

The Cerro Las Minitas project as of January 8th, 2018 contains an estimated Indicated Resource, at a 175g/t AgEq cut-off, of 33.6Mozs silver and 319Mlbs of lead and 813Mlbs zinc (116.1Mozs AgEq; 1.69Blbs ZnEq) and an estimated Inferred Resource of 20.7Mozs silver, 131Mlbs lead and 870Mlbs zinc (92.7Mozs AgEq; 1.35Blbs ZnEq).(1)

The Cerro Las Minitas project operates on a joint venture basis by Southern Silver at a 40% interest and Electrum Global Holdings LP at a 60% interest. Southern Silver is operator of the project. With the completion of the current US$3.0M exploration program, total exploration and acquisition costs now total US$18.5M, including US$3.5M in J/V funding since formation of the Joint Venture in September, 2017.

About Southern Silver Exploration Corp.

Southern Silver Exploration Corp. is a precious metals exploration and development company with a focus on the discovery of economic mineral deposits in north-central Mexico and the southern USA. Our specific emphasis is the Cerro Las Minitas silver-lead-zinc project located in the heart of Mexico’s Faja de Plata, which hosts multiple mineral deposits such as Penasquito, San Martin, Naica, Los Gatos and Pitarrilla. We have assembled a team of highly experienced technical, operational and transactional professionals to support our exploration efforts in developing, along with our partner, Electrum Global Holdings LP, the Cerro Las Minitas project into a premier silver-lead-zinc mine.

The Company engages in the acquisition, exploration and development either directly or through joint-venture relationships in mineral properties in major jurisdictions. Our property portfolio also includes the Oro porphyry copper-gold project located in southern New Mexico, USA. The Oro property consists of patented land, State leases and BLM located mineral claims which cover a highly prospective quartz-sericite-pyrite alteration zone, interpreted to overlie an unexposed porphyry centre and distal sediment-hosted, oxide-gold target.

  1. The 2018 Cerro Las Minitas Resource Estimate was prepared following CIM definitions for classification of Mineral Resources. Resources are constrained using mainly geological constraints and approximate 10g/t AgEq grade shells. The block models are comprised of an array of blocks measuring 10m x 2m x 10m, with grades for Au, Ag, Cu, Pb, Zn and AgEq values interpolated using ID2 weighting. The models identified at a 175g/t AgEq cut-off, an indicated resource of 10,135,000 tonnes averaging 102g/t Ag, 0.1g/t Au, 1.4% Pb, 3.6% Zn and 0.15% Cu and a cumulative inferred resource of 8,685,000 tonnes averaging 74g/t Ag, 0.04g/t Au, 0.7% Pb, 4.5% Zn and 0.15% Cu. Mineral Resource cut-offs are estimated using an average long-term price of $16/oz silver, $1,200/oz gold, $2.75/lb Cu, $1.00/lb lead and $1.10/lb zinc and metal recoveries of 82% silver, 86% lead 80% copper and 80% zinc. AgEq calculations did not account for relative metallurgical recoveries of the metals. All prices are stated in $USD. Mineral Resources are conceptual in nature and as such do not have demonstrated economic viability.

The current Resource Estimate was prepared by Garth Kirkham, P.Geo. of Kirkham Geosciences Ltd. who is the Independent Qualified Person responsible for presentation and review of the Mineral Resource Estimate.

Robert Macdonald, MSc. P.Geo, is a Qualified Person as defined by National Instrument 43-101 responsible for the supervision of the exploration on the Cerro Las Minitas Project and for the preparation of the technical information in this disclosure.

On behalf of the Board of Directors

“Lawrence Page”

Lawrence Page, Q.C.

President & Director, Southern Silver Exploration Corp.

For further information, please visit Southern Silver’s website at southernsilverexploration.com or contact us at 604.641.2759 or by email at ir@mnxltd.com.

Neither 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 forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Southern Silver Exploration Corp. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43102

Thunderstruck Announces Joint Venture with JOGMEC

Vancouver, British Columbia–(Newsfile Corp. – February 28, 2019) –  Thunderstruck Resources Ltd. (TSXV: AWE) (OTCQB: THURF) (“Thunderstruck”) is pleased to announce it has signed a Joint Venture Agreement (the “Agreement”) with Japan Oil, Gas and Metals National Corporation (“JOGMEC”) on its Wainaleka VMS Property (the “Mineral Licence”) in Fiji. The Agreement grants JOGMEC the option to earn a 70% ownership interest by funding CDN$3,500,000 of exploration through March 31, 2022, subject to acceleration at JOGMEC’s discretion.

Bryce Bradley, President and CEO of Thunderstruck Resources, states; “We welcome a partnership with JOGMEC to develop our Wainaleka high-grade VMS discovery. We’re especially pleased that JOGMEC is proposing an aggressive initial exploration program culminating in diamond drilling during this year’s field season. JOGMEC is a well-established CDN$11 billion dollar Japanese governmental entity mandated to ensure steady, cost-effective supplies of metals for their country’s industries. Wainaleka is one of Thunderstruck’s four Fijian projects, and we continue to advance these highly prospective assets with the aim of securing joint venture partners for our Rama copper/gold porphyry and Nakoro VMS, while advancing our Liwa gold project into a drill program.”

To reflect JOGMEC’s interest in the property, the Wainaleka property will be renamed “Korokayiu.”

KOROKAYIU (FORMERLY WAINALEKA) ZINC/COPPER PROPERTY

Korokayiu is a high-grade zinc-copper volcanogenic massive sulphide (VMS) discovery drilled by Anglo Pacific in 1977. The 15-hole, 1,763-metre Anglo diamond drill program intersected highly anomalous values including:

  • 6.2m @ 1.8% copper, 12.0% zinc and 25 g/t silver (WLK-1A)
  • 10m @ 2.3% copper, 5.5% zinc and 47 g/t silver (WLK-4)
  • 15.5m @ 1.5% copper, 1.3% zinc and 8.0 g/t silver (WLK-10)

The Anglo drilling results have shown the main mineralised zone is open at both ends and at depth. True widths are estimated to be 80%-100% of the drilled intercept. Geologic mapping indicates 15 km prospective geology strike length; including eight more underexplored zinc-copper VMS prospects*.

*The Qualified person has verified the reported historic drill intercepts including all sampling, analytical, and underlying test data. For full descriptions of mineralized intercepts and details of the Company’s data verification see: Technical Report on Aljen (Pacific) Mineral Properties Viti Levu, Fiji, Prepared for Thunderstruck Resources Ltd., September 15, 2014

ABOUT JOGMEC

JOGMEC (Japan Oil, Gas and Metals National Corporation) seeks to ensure a stable supply of metal resources that are indispensable for their industries, and contributes to a wide range of fields including surveying, exploration, development, production and stockpiling to recycling and environmental protection.

OPTION TERMS

The general terms of the Option are as follows:

1) Term 1 Program: CDN$900,000 during the period commencing on the Effective Date and ending March 31, 2020.

2) Term 2 Program – CDN$1,100,000 during the period commencing April 1, 2020, and ending March 31, 2021.

3) Term 3 Program – CDN$1,500,000 during the period commencing April 1, 2021 and ending March 31, 2022.

4) Investment in the Mineral Licence will be on a pro-rata basis after JOGMEC has fulfilled its funding obligation.

5) Thunderstruck will be the Operator for all operations on the Mineral Licence and will be responsible for the preparation, conduct and oversight of prospecting operations, and the hiring of any third party consultants.

6) JOGMEC has up to a 90 day standstill period from the Effective Date to complete customary due diligence and receive any necessary consents and approvals under the currently effective laws of Fiji in relation to this Agreement.

7) JOGMEC shall have the right in its sole option and discretion and upon notice to Thunderstruck, to accelerate the rate of funding.

ADDITIONAL CORPORATE UPDATE

Crews are currently on the ground completing a geophysical program on both its gold asset (Liwa) and its copper-gold porphyry (Rama). The Induced Polarization (IP) resistivity surveys include 4 line-km for Liwa and 7 line-km for Rama. Completion is expected in the next 2 weeks, with an interpretation of the results following shortly thereafter. Geophysical surveys are designed to provide insight into the potential mineralogy of an asset by monitoring the electrical chargeability and resistivity of subsurface materials. This cost-effective method of data collection gives 3D imaging information to a depth of up to 500 metres and assists in delineating drill targets.

Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, is a qualified person for the project as defined by National Instrument NI 43-101. Mr. Raffle has reviewed and approved the portion of the technical content of this news release.

Please join us at the Prospectors and Developers Association of Canada Convention (PDAC) March 3 – 6, 2019 in Booth #3220 to be held at the Metro Toronto Convention Centre.

ABOUT THUNDERSTRUCK RESOURCES

Thunderstruck Resources is a Canadian mineral exploration company that has assembled four extensive and highly prospective properties in Fiji on which recent and previous exploration has confirmed VMS, copper and precious metals mineralisation. The Company provides investors with exposure to a diverse portfolio of exploration stage projects with potential for zinc, copper, gold and silver in a politically safe and stable jurisdiction. Thunderstruck trades on the Toronto Venture Exchange (TSXV) under the symbol “AWE” and United States OTCQB under the symbol “THURF”.

For additional information, please contact:

Rob Christl, Investor Relations
Email: rob@thunderstruck.ca
P: 778 840-7180

Bryce Bradley, President and CEO
Email: bryce@thunderstruck.ca

or, visit our website: http://www.thunderstruck.ca

Neither the TSX Venture Exchange Inc. 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 contains certain statements that may be deemed “forward-looking statements”. Although Thunderstruck believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Thunderstruck’s management on the date the statements are made. Except as required by law, Thunderstruck undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43117

Assay Results Show Silver at Standfast-Wigwam Zinc Project

Vancouver, British Columbia–(Newsfile Corp. – February 21, 2019) –  Spey Resources Corp. (CSE: SPEY) (“Spey” or “the Company”) is pleased to announce that assay results have been received from 29 rock samples obtained from the Company’s Standfast-Wigwam Project located in the Kootenay Arc in south-eastern British Columbia. Results include 28.60 grams per tonne (gpt) silver, 17.95 % lead and 11.95% zinc from a 60 centimeter chip sample within the northern area of the Main Zone. Numerous samples returned elevated silver (Ag), lead (Pb) and zinc (Zn) with 11 samples returning greater than 8% combined lead and zinc.

Of the 29 rock samples, 25 were chip and grab samples of fine grained quartzite and limestone (silicified), containing visible sulphide mineralization, taken over a 425 metre long northern section. Four chip and grab samples were obtained from a 250 metre long southern section where massive sulphide mineralization, brecciation and silicification were noted. All samples were taken from the Main Zone that has been traced for over three kilometres.

These initial rock sample results indicate a northwesterly trending area of interest worthy of continued exploration, with potential for near surface zinc-lead-silver mineralization. Silver values appear to show a previously unrecognized increase in grade related to silicification (silic) as noted by the samplers.

Sample results are tabulated and summarized in the table below:

Sample# Location UTM E UTM N Chip/Grab* Sample Description Ag g/t Pb % Zn %
32251 N Main 431596.6 5636652 65cmm chip silic band mass sulph, sph 20.1 5.21 2.34
32252 N Main 431643.3 5636639 1.0m chip band silic lmst, sph-gal-py 4.72 3.02 6.1
32253 N Main 431643.3 5636639 80cm chip adjoining bottom of 32252 1.51 1.61 7.33
32254 N Main 431643.3 5636641 1.0m chip adjoining bottom of 32253 2.21 2.96 5.51
32255 N Main 431643.3 5636645 1.0m chip start 1.0m above 32252 9.31 3.68 1.83
32256 N Main 431675.1 5636653 1.0m chip bx-silic lmst, po-py-sph 3.01 0.48 2.9
32257 N Main 431694.2 5636642 1.0m chip band sulph, gal-sph-py 2.07 2.93 3.48
32258 N Main 431882.5 5636555 2.50m chip band sulph, po-py-gal-sph 8.64 3.74 0.59
32259 N Main 431870.3 5636632 30cm grab silic limst, band py-sph-gal 13.8 5.67 3.78
32260 N Main 431858.7 5636612 float grab silic lmst, 20cm gal bands 5.22 8.94 0.11
32261 S Main 432444.9 5636410 25cm grab mass py-po-sph, carb-bx 0.92 0.51 6.15
32262 S Main 432443 5636425 25cm grab band bx silic lmst, gal-sph 10.4 1.13 3.14
32263 N Main 432622 5636364 grab mudstn frags in quartzite 0.57 0.1 0.07
32401 N Main 431540.6 5636653 1.5m grab f.g. dk-gry mass sulph 2.36 0.91 4.09
32402 N Main 431540.6 5636655 grab-float wht silic lmst, py-gal-sph 3.2 0.86 3.39
32403 N Main 431535.6 5636694 40cm chip silic bx limst, f,g. gal-sph 5.03 0.67 6.56
32404 N Main 431525.1 5636672 1.0m chip dk gry band mass sulph 1.32 0.52 2.26
32405 N Main 431514.2 5636688 60cm chip bx silic lmst, gal-sph-py 28.6 17.95 11.95
32406 N Main 431607.7 5636643 60cm chip silic lmst, f.g. gal-sph-py 9.32 11.4 1.34
32407 N Main 431618.5 5636621 50cm chip Silic cryst limst f.g. gal-sph 10.55 7.59 0.45
32408 N Main 431649.2 5636638 80cm chip quartzite, f.g. band sulph 33.3 5.42 1.54
32409 N Main 431666.4 5636632 1.0m chip dk gry lmst, v.f.g. sphal-gal 3.79 3.88 8.19
32410 N Main 431718.5 5636626 50cm chip f.g. band mass sulph po-sph 3 2.25 3.18
32411 N Main 431754.3 5636582 60cm chip chert, f.g. band mass sulph 2.64 0.77 2.88
32412 N Main 431831.6 5636562 1.0m chip crystl limst, py-gal-sphal 4.82 0.75 2.7
32413 N Main 431854.3 5636626 1.0m chip gry-wht band limst, gal 0.59 0.3 0.7
32414 N Main 431802.3 5636618 50cm chip gry-wht band lmst, <5% sul 1.36 1.69 0.75
32415 S Main 432478.5 5636381 20cm chip x-cut fault zone, gal-sph-py 2.93 1.88 7.32
32416 S Main 432442.7 5636421 40cm chip silic limst, po-sph-py, < gal 9.9 1.61 7.59

 

“Spey is encouraged by the previously un-recognized increase in silver grades related to silica content in samples with low Pb values,” said David Thornley-Hall, President of the Company. “We look forward to continuing to gain a better understanding of this compelling prospect.”

*The reader is cautioned that grab samples are, by nature, selective and may not be representative of average grades on the property.

All rock samples were dried, crushed to 70% passing 2mm, then split to 250g, then pulverized to 75% passing 75um, at ALS Canada Ltd. (an Accredited Laboratory, ISO 17025:2005 Certified) in North Vancouver, BC. A portion of the resulting pulps were digested with aqua regia in a graphite heating block. After cooling the solution is diluted with deionized water and analyzed by ICP-AES (inductively coupled plasma-atomic emission spectrometry) for 51 elements. Ore grade samples containing >10,000 ppm Pb or Zn were also analyzed by ICP-AES to quantify the Pb and Zn to a percentage level (ME-OG46 assay procedure). ALS inserts blanks and standards and provides check re-samples at various intervals for each sample shipment analyzed to verify data.

About Spey Resources Corp.

Spey is a Vancouver-based mineral exploration company exploring for silver, lead and zinc in British Columbia and also exploring in the La Sal vanadium, uranium district in eastern Utah. For additional information on the Company and its properties, please visit the Company’s website: www.speyresources.ca or email: dth@speyresources.ca.

The technical information contained in this news release was reviewed and approved by Perry Grunenberg, P. Geo., a consultant to the Company and a qualified person for the purposes of National Instrument 43-101.

On behalf of the Board of Directors of

SPEY RESOURCES CORP.

“David Thornley-Hall”

David Thornley-Hall,
President & Director

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS:

This news release may contain forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” ‘projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. Information inferred from the interpretation of drilling results may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company’s properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Spey’s operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42967