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SASSY SIGNIFICANTLY EXPANDS WESTMORE HIGH-GRADE GOLD-SILVER DISCOVERY IN ESKAY CAMP
VANCOUVER, British Columbia, March 3, 2022 – Sassy Resources Corporation (“Sassy” or the “Company”) (CSE: SASY) (FSE: 4E7) (OTCQB: SSYRF) has significantly expanded the Westmore high-grade gold-silver discovery at depth and along strike with the highest grades yet from drilling at the Company’s 100%-owned Foremore Project in Northwest British Columbia’s prolific Eskay Camp, 30 miles northeast of the Eskay Creek mine.
2021 Drilling & Sampling Highlights
The last five drill holes at Westmore in 2021 each intersected shallow, high-grade mineralization (drill hole intersections are core lengths - true widths unknown at this time);
Four of the last five holes returned visible gold and confirmed the continuation to depth of high-grade Au mineralization defined by 2020 surface sampling. The newly-named 4Amigos Vein has a strike length of 160 meters and is open for expansion to depth and along strike to the west and in particular along strike and downslope to the east;
55.2 g/t Au and 32.3 g/t Ag over 0.8 m within 1.5 m @ 26.6 g/t Au and 15.7 g/t Ag (WM21-014);
86.4 g/t Au and 41.6 g/t Ag over 0.7 m within 1.4 m @ 43.2 g/t Au and 20.8 g/t Ag (WM21-015);
26.3 g/t Au and 17.0 g/t Ag over 0.7 m within 2.2 m @ 8.4 g/t Au and 6.25 g/t Ag (WM21-016);
20.2 g/t Au and 19.3 g/t Ag over 0.8 m within 1.6 m @ 10.2 g/t Au and 9.8 g/t Ag (WM21-017);
503.0 g/t Ag over 1.0 m (WM20-18), 200 m south and 112 m below the 4Amigos vein;
New discovery from channel sampling 600 m south and 300 m below the 2019 original surface discovery where a steeply dipping mafic volcanic hosted quartz vein, up to 7.7 m thick, is exposed over a distance of 130 m and is believed to continue underneath the glacier at the bottom of Westmore. A channel sample across this vein system returned 7.2 g/t Au and 230 g/t Ag over 2.0 m. This area of Westmore has yet to be drill-tested.
Mr. Mark Scott, Sassy President and CEO, commented: “The Eskay Camp is one of the best addresses in the world for high-grade gold exploration and mining. What’s so encouraging about Westmore is that this is a completely new grassroots discovery with a large surface footprint and improving early-stage drill results. As we ramp up drilling and tighten up drill spacing, the expectation is for even better results. The Eskay Camp is renowned for its upside surprises. We also look forward to providing an update soon on the highly prospective More Creek Corridor where we’re targeting gold-silver-rich VMS-style deposits.”
Westmore Discovery Highlights
18 drill holes (4,168 m) completed to date at Westmore (6 in 2020, 12 in 2021) confirm the discovery of a structurally controlled gold-silver-rich system with a large surface footprint covering the Westmore granodiorite intrusive and surrounding country rock;
1,026 surface samples collected at Westmore by Sassy, mostly during 2020 and 2021, returned an average grade of 2.65 g/t Au. The top 50 samples averaged 43.16 g/t Au and 329.26 g/t Ag;
2021 geological mapping focused on defining the outer edge of the intrusive suggests that its widest point east-west is approximately 1 km. In a north-south direction the intrusives long axis also measures approximately 1 km. Its depth extent is unknown but beyond 400 m;
A geochronology study has put the time of the emplacement of the Westmore intrusive at 189.6 Ma (Early Jurassic). Notable examples of gold deposits in the Eskay Camp of a similar age are Brucejack and Snip;Geochemically, the high-grade veins occurring in the intrusive and the encompassing mafic volcanic rock at Westmore are similar;
The associated Au-Ag-Cd-Pb-Te-Zn geochemical signature is recognized in veins occurring within the mafic volcanic unit that flanks the west-northwest side of the Westmore intrusive and on the southeast side of the intrusive where mafic volcanic hosted and very steeply dipping quartz veins have a measured thickness at surface of up to 7.7 m;
Importantly, this geochemical signature can be utilized to vector to potentially favorable quartz veins within the intrusive and surrounding country rock.
Mr. Ian Fraser, P.Geo. and VP-Exploration for Sassy, commented: “We have taken another important step forward with this early-stage discovery and we have much to follow up on from our 2021 success. The last five drill holes at Westmore all cut high-grade mineralization and we’re also greatly encouraged by the channel sampling of the wide vein system at the bottom of the Westmore intrusive leading into the glacier, perhaps our most important surface discovery since the original 2019 discovery 600 m to the northwest and 300 m higher in elevation.
“The aim this summer will be to take Westmore to yet another level and identify the significant mineralizing source which fed this apparent robust system,” Mr. Fraser concluded.
Drilling Notes
2021 Westmore drilling was designed to test the quartz vein stockwork systems occurring at the southern part of the exposed Westmore intrusive and to test other quartz vein occurrences at lower elevations than those tested by drilling in 2020. Four drill holes (WM21-014 to WM21-017) were designed to confirm the quartz vein hosted high-grade Au values sampled extensively on surface in 2020, and intersected by 2020 drilling (4Amigos Vein), are continuous along strike and to depth (see attached 2021 drill hole plan map, drill hole location table and 4Amigos long section). As illustrated in the 4Amigos long section, assay results from surface sampling and drill hole pierce points indicate a current strike length exceeding 150 m and a drill-confirmed vertical depth of 37 m in which high-grade Au values have been produced (fully open for expansion).
Notably, drill hole WM21-007 (the first hole drilled in the 2021 season following up on the six holes drilled at Westmore in 2020) was collared south of and at a lower elevation relative to the six holes drilled at Westmore in 2020 and produced a wide intersection grading 0.34 g/t Au over 28.0 m from 191.0 to 219.0 m downhole. Included within this intersection was a higher-grade result of 5.8 g/t Au over 0.8 m which contained visible gold, demonstrating the potential of this wide vein to produce high-grade results across significant widths as further drill testing is performed. The type of “blow-out” observed in WM21-007 can occur in any of the numerous east-west trending vein systems within the Westmore intrusive.
Highlight 2021 Drill Intersections – 2021 Westmore Discovery Zone
Drillhole Id From (m) To (m) Length (m) Au (g/t) Ag (g/t)
WM21-018 35.0 36.0 1.0 0.03 503.00
WM21-017 11.0 12.6 1.6 10.17 9.76
Including* 11.8 12.6 0.8 20.20 19.30
WM21-016 8.5 10.7 2.2 8.42 6.25
Including* 9.2 9.9 0.7 26.30 17.05
WM21-015 8.7 10.1 1.4 43.21 20.85
Including* 8.7 9.4 0.7 86.40 41.60
WM21-014 7.8 9.2 1.5 26.65 15.67
Including* 7.8 8.5 0.7 55.20 32.30
WM21-013 27.0 28.0 1.0 3.28 1.35
WM21-012 150.8 152.4 1.6 0.90 13.90
WM21-008 83.0 87.0 4.0 1.39 9.29
Including 85.0 86.0 1.0 3.02 26.20
WM21-007 191.0 219.0 28.0 0.34 1.89
Including 212.0 213.5 1.5 4.00 7.15
Including* 212.0 212.8 0.8 5.77 7.22
WM21-007 278.0 279.0 1.0 2.01 1.34
WM21-007 404.0 405.0 1.0 1.67 0.48
* Denotes visible gold (VG) observed in drill core
Note: Length is drill hole length and not true width
Westmore Discovery Zone – Plan View (Partial) 2020-2021 Sampling & Drilling
The collar locations of drill holes WM21-009 and WM21-010 occur just off the northeast corner of plan map.
Westmore Channel Sample Table
Sample_Id E_UTM N_UTM Sample Type Length
(m) Au
(ppm) Ag
(ppm) Pb
(ppm) Zn
(ppm)
E247135 378583 6325165 Channel 1.0 0.03 2.11 1.7 <2
E247136 378583 6325165 Channel 1.0 6.44 109.00 8.4 3
E247137 378583 6325165 Channel 1.0 8.00 351.00 29700 306
E247138 378583 6325165 Channel 1.0 0.13 5.42 90.7 12
“4Amigos” Plan View & Long Section of DDH Pierce Points Along Strike
2021 Westmore Drill Hole Locations
Drillhole_Id Easting (UTM) Northing (UTM) Elevation (ASL_m) Azimuth (°) Dip (°) Depth (m) Start Date End Date
WM21-007 378462 6325299 1404 180 -60 422 07/23/2021 07/30/2021
WM21-008 378462 6325299 1404 200 -55 350 07/30/2021 08/05/2021
WM21-009 379006 6325728 1260 130 -55 352 08/06/2021 08/10/2021
WM21-010 379006 6325728 1260 150 -55 263 08/10/2021 08/12/2021
WM21-011 378348 6325453 1524 180 -55 21 08/13/2021 08/14/2021
WM21-012 378348 6325453 1524 180 -60 458 08/14/2021 08/20/2021
WM21-013 378348 6325453 1524 165 -50 205 08/20/2021 08/22/2021
WM21-014 378354 6325501 1533 180 -45 99 09/05/2021 09/06/2021
WM21-015 378354 6325501 1533 180 -55 49 09/06/2021 09/07/2021
WM21-016 378354 6325501 1533 200 -45 32 09/07/2021 09/07/2021
WM21-017 378354 6325501 1533 200 -65 56 09/07/2021 09/08/2021
WM21-018 378419 6325305 1421 180 -50 199 09/08/2021 09/11/2021
Total 2506
No significant results reported in drill holes WM21-009 & WM21-010. Hole WM21-011 was abandoned shortly after it was collared due to a drill mechanical issue.
Illustration of Visible Gold in Core – Diamond Drill Hole WM-21-014
Quality Assurance/Quality Control
Sassy implemented an industry-standard QA/QC program for all field samples and drill core samples collected during its 2021 exploration program. The company inserted QC blanks and standards at pre-determined intervals. Drill core samples were cut in half by rock saw, half of the core remained in the labeled interval in the core box, the other half was placed in clear plastic sample bags together with pre-numbered sample tags and remained on site until transportation to the lab. Samples were transported and submitted directly by Company personnel to the ALS prep lab at Terrace, B.C. Initially, all rock and drill core samples were crushed to 70% passing 2mm, split to 500g, and pulverized to a pulp with 85% passing 75 micrometres. The pulps were then shipped to ALS facilities in Kamloops and Vancouver BC, where they were fire assayed for gold by 50g fire assay with atomic absorption finish (AAS), 48 elements by multi-element ICP-MS, 4-acid digestion. The company is in the process of re-assaying high-grade Au Samples by Metallic Screening process. Over-limit analyses for Ag, Cu, Pb, Zn were performed utilizing the Ore Grade, 4-Acid, ICP-AES procedure. ALS is an accredited lab independent of Sassy Resources.
Subscribe for Updates
Photographs and videos from the Company’s projects in Northwest B.C. and Newfoundland will be added to the Sassy website over the coming days and weeks. Visit SassyResources.com and sign up for news alerts to stay informed as exploration continues year-round.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Ian Fraser, P.Geo., Vice President of Exploration for Sassy Resources. Mr. Fraser is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Sassy Resources Corporation
Sassy Resources is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal and base metal projects in North America. Its focus is the Foremore Project located in the Eskay Camp, Liard Mining Division, in the heart of Northwest B.C.’s prolific Golden Triangle, and the Central Newfoundland Gold Belt where Sassy is one of the district’s largest landowners.
Caution Regarding Forward Looking Statements
Investors are cautioned that, except for statements of historical fact, certain information contained in this document includes “forward looking information”, with respect to a performance expectation for Sassy Resources Corporation. Such forward looking statements are based on current expectations, estimates and projections formulated using assumptions believed to be reasonable and involving a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. Such factors include, without limitation, fluctuations in foreign exchange markets, the price of commodities in both the cash market and futures market, changes in legislation, taxation, controls and regulation of national and local governments and political and economic developments in Canada and other countries where Sassy carries out or may carry out business in the future, the availability of future business opportunities and the ability to successfully integrate acquisitions or operational difficulties related to technical activities of mining and reclamation, the speculative nature of exploration and development of mineral deposits, including risks obtaining necessary licenses and permits, reducing the quantity or grade of reserves, adverse changes in credit ratings, and the challenge of title. The Company does not undertake an obligation to update publicly or revise forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Some of the results reported are historical and may not have been verified by the Company.
Contact Info:
Mark Scott
Chief Executive Officer & Director
info@sassyresources.ca
Sassy Resources
Corporate Communications/IR
Terry Bramhall
1.604.833.6999 (mobile)
1.604.675.9985 (office)
terry.bramhall@sassyresources.ca
In Europe
Michael Adams
Managing Director - Star Finance GmbH
info@star-finance.eu
The CSE has neither approved nor disapproved the contents of this news release. 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.
Visit SassyResources.com
SASSY SIGNIFICANTLY EXPANDS WESTMORE HIGH-GRADE GOLD-SILVER DISCOVERY IN ESKAY CAMP
VANCOUVER, British Columbia, March 3, 2022 – Sassy Resources Corporation (“Sassy” or the “Company”) (CSE: SASY) (FSE: 4E7) (OTCQB: SSYRF) has significantly expanded the Westmore high-grade gold-silver discovery at depth and along strike with the highest grades yet from drilling at the Company’s 100%-owned Foremore Project in Northwest British Columbia’s prolific Eskay Camp, 30 miles northeast of the Eskay Creek mine.
2021 Drilling & Sampling Highlights
The last five drill holes at Westmore in 2021 each intersected shallow, high-grade mineralization (drill hole intersections are core lengths - true widths unknown at this time);
Four of the last five holes returned visible gold and confirmed the continuation to depth of high-grade Au mineralization defined by 2020 surface sampling. The newly-named 4Amigos Vein has a strike length of 160 meters and is open for expansion to depth and along strike to the west and in particular along strike and downslope to the east;
55.2 g/t Au and 32.3 g/t Ag over 0.8 m within 1.5 m @ 26.6 g/t Au and 15.7 g/t Ag (WM21-014);
86.4 g/t Au and 41.6 g/t Ag over 0.7 m within 1.4 m @ 43.2 g/t Au and 20.8 g/t Ag (WM21-015);
26.3 g/t Au and 17.0 g/t Ag over 0.7 m within 2.2 m @ 8.4 g/t Au and 6.25 g/t Ag (WM21-016);
20.2 g/t Au and 19.3 g/t Ag over 0.8 m within 1.6 m @ 10.2 g/t Au and 9.8 g/t Ag (WM21-017);
503.0 g/t Ag over 1.0 m (WM20-18), 200 m south and 112 m below the 4Amigos vein;
New discovery from channel sampling 600 m south and 300 m below the 2019 original surface discovery where a steeply dipping mafic volcanic hosted quartz vein, up to 7.7 m thick, is exposed over a distance of 130 m and is believed to continue underneath the glacier at the bottom of Westmore. A channel sample across this vein system returned 7.2 g/t Au and 230 g/t Ag over 2.0 m. This area of Westmore has yet to be drill-tested.
Mr. Mark Scott, Sassy President and CEO, commented: “The Eskay Camp is one of the best addresses in the world for high-grade gold exploration and mining. What’s so encouraging about Westmore is that this is a completely new grassroots discovery with a large surface footprint and improving early-stage drill results. As we ramp up drilling and tighten up drill spacing, the expectation is for even better results. The Eskay Camp is renowned for its upside surprises. We also look forward to providing an update soon on the highly prospective More Creek Corridor where we’re targeting gold-silver-rich VMS-style deposits.”
Westmore Discovery Highlights
18 drill holes (4,168 m) completed to date at Westmore (6 in 2020, 12 in 2021) confirm the discovery of a structurally controlled gold-silver-rich system with a large surface footprint covering the Westmore granodiorite intrusive and surrounding country rock;
1,026 surface samples collected at Westmore by Sassy, mostly during 2020 and 2021, returned an average grade of 2.65 g/t Au. The top 50 samples averaged 43.16 g/t Au and 329.26 g/t Ag;
2021 geological mapping focused on defining the outer edge of the intrusive suggests that its widest point east-west is approximately 1 km. In a north-south direction the intrusives long axis also measures approximately 1 km. Its depth extent is unknown but beyond 400 m;
A geochronology study has put the time of the emplacement of the Westmore intrusive at 189.6 Ma (Early Jurassic). Notable examples of gold deposits in the Eskay Camp of a similar age are Brucejack and Snip;Geochemically, the high-grade veins occurring in the intrusive and the encompassing mafic volcanic rock at Westmore are similar;
The associated Au-Ag-Cd-Pb-Te-Zn geochemical signature is recognized in veins occurring within the mafic volcanic unit that flanks the west-northwest side of the Westmore intrusive and on the southeast side of the intrusive where mafic volcanic hosted and very steeply dipping quartz veins have a measured thickness at surface of up to 7.7 m;
Importantly, this geochemical signature can be utilized to vector to potentially favorable quartz veins within the intrusive and surrounding country rock.
Mr. Ian Fraser, P.Geo. and VP-Exploration for Sassy, commented: “We have taken another important step forward with this early-stage discovery and we have much to follow up on from our 2021 success. The last five drill holes at Westmore all cut high-grade mineralization and we’re also greatly encouraged by the channel sampling of the wide vein system at the bottom of the Westmore intrusive leading into the glacier, perhaps our most important surface discovery since the original 2019 discovery 600 m to the northwest and 300 m higher in elevation.
“The aim this summer will be to take Westmore to yet another level and identify the significant mineralizing source which fed this apparent robust system,” Mr. Fraser concluded.
Drilling Notes
2021 Westmore drilling was designed to test the quartz vein stockwork systems occurring at the southern part of the exposed Westmore intrusive and to test other quartz vein occurrences at lower elevations than those tested by drilling in 2020. Four drill holes (WM21-014 to WM21-017) were designed to confirm the quartz vein hosted high-grade Au values sampled extensively on surface in 2020, and intersected by 2020 drilling (4Amigos Vein), are continuous along strike and to depth (see attached 2021 drill hole plan map, drill hole location table and 4Amigos long section). As illustrated in the 4Amigos long section, assay results from surface sampling and drill hole pierce points indicate a current strike length exceeding 150 m and a drill-confirmed vertical depth of 37 m in which high-grade Au values have been produced (fully open for expansion).
Notably, drill hole WM21-007 (the first hole drilled in the 2021 season following up on the six holes drilled at Westmore in 2020) was collared south of and at a lower elevation relative to the six holes drilled at Westmore in 2020 and produced a wide intersection grading 0.34 g/t Au over 28.0 m from 191.0 to 219.0 m downhole. Included within this intersection was a higher-grade result of 5.8 g/t Au over 0.8 m which contained visible gold, demonstrating the potential of this wide vein to produce high-grade results across significant widths as further drill testing is performed. The type of “blow-out” observed in WM21-007 can occur in any of the numerous east-west trending vein systems within the Westmore intrusive.
Highlight 2021 Drill Intersections – 2021 Westmore Discovery Zone
Drillhole Id From (m) To (m) Length (m) Au (g/t) Ag (g/t)
WM21-018 35.0 36.0 1.0 0.03 503.00
WM21-017 11.0 12.6 1.6 10.17 9.76
Including* 11.8 12.6 0.8 20.20 19.30
WM21-016 8.5 10.7 2.2 8.42 6.25
Including* 9.2 9.9 0.7 26.30 17.05
WM21-015 8.7 10.1 1.4 43.21 20.85
Including* 8.7 9.4 0.7 86.40 41.60
WM21-014 7.8 9.2 1.5 26.65 15.67
Including* 7.8 8.5 0.7 55.20 32.30
WM21-013 27.0 28.0 1.0 3.28 1.35
WM21-012 150.8 152.4 1.6 0.90 13.90
WM21-008 83.0 87.0 4.0 1.39 9.29
Including 85.0 86.0 1.0 3.02 26.20
WM21-007 191.0 219.0 28.0 0.34 1.89
Including 212.0 213.5 1.5 4.00 7.15
Including* 212.0 212.8 0.8 5.77 7.22
WM21-007 278.0 279.0 1.0 2.01 1.34
WM21-007 404.0 405.0 1.0 1.67 0.48
* Denotes visible gold (VG) observed in drill core
Note: Length is drill hole length and not true width
Westmore Discovery Zone – Plan View (Partial) 2020-2021 Sampling & Drilling
The collar locations of drill holes WM21-009 and WM21-010 occur just off the northeast corner of plan map.
Westmore Channel Sample Table
Sample_Id E_UTM N_UTM Sample Type Length
(m) Au
(ppm) Ag
(ppm) Pb
(ppm) Zn
(ppm)
E247135 378583 6325165 Channel 1.0 0.03 2.11 1.7 <2
E247136 378583 6325165 Channel 1.0 6.44 109.00 8.4 3
E247137 378583 6325165 Channel 1.0 8.00 351.00 29700 306
E247138 378583 6325165 Channel 1.0 0.13 5.42 90.7 12
“4Amigos” Plan View & Long Section of DDH Pierce Points Along Strike
2021 Westmore Drill Hole Locations
Drillhole_Id Easting (UTM) Northing (UTM) Elevation (ASL_m) Azimuth (°) Dip (°) Depth (m) Start Date End Date
WM21-007 378462 6325299 1404 180 -60 422 07/23/2021 07/30/2021
WM21-008 378462 6325299 1404 200 -55 350 07/30/2021 08/05/2021
WM21-009 379006 6325728 1260 130 -55 352 08/06/2021 08/10/2021
WM21-010 379006 6325728 1260 150 -55 263 08/10/2021 08/12/2021
WM21-011 378348 6325453 1524 180 -55 21 08/13/2021 08/14/2021
WM21-012 378348 6325453 1524 180 -60 458 08/14/2021 08/20/2021
WM21-013 378348 6325453 1524 165 -50 205 08/20/2021 08/22/2021
WM21-014 378354 6325501 1533 180 -45 99 09/05/2021 09/06/2021
WM21-015 378354 6325501 1533 180 -55 49 09/06/2021 09/07/2021
WM21-016 378354 6325501 1533 200 -45 32 09/07/2021 09/07/2021
WM21-017 378354 6325501 1533 200 -65 56 09/07/2021 09/08/2021
WM21-018 378419 6325305 1421 180 -50 199 09/08/2021 09/11/2021
Total 2506
No significant results reported in drill holes WM21-009 & WM21-010. Hole WM21-011 was abandoned shortly after it was collared due to a drill mechanical issue.
Illustration of Visible Gold in Core – Diamond Drill Hole WM-21-014
Quality Assurance/Quality Control
Sassy implemented an industry-standard QA/QC program for all field samples and drill core samples collected during its 2021 exploration program. The company inserted QC blanks and standards at pre-determined intervals. Drill core samples were cut in half by rock saw, half of the core remained in the labeled interval in the core box, the other half was placed in clear plastic sample bags together with pre-numbered sample tags and remained on site until transportation to the lab. Samples were transported and submitted directly by Company personnel to the ALS prep lab at Terrace, B.C. Initially, all rock and drill core samples were crushed to 70% passing 2mm, split to 500g, and pulverized to a pulp with 85% passing 75 micrometres. The pulps were then shipped to ALS facilities in Kamloops and Vancouver BC, where they were fire assayed for gold by 50g fire assay with atomic absorption finish (AAS), 48 elements by multi-element ICP-MS, 4-acid digestion. The company is in the process of re-assaying high-grade Au Samples by Metallic Screening process. Over-limit analyses for Ag, Cu, Pb, Zn were performed utilizing the Ore Grade, 4-Acid, ICP-AES procedure. ALS is an accredited lab independent of Sassy Resources.
Subscribe for Updates
Photographs and videos from the Company’s projects in Northwest B.C. and Newfoundland will be added to the Sassy website over the coming days and weeks. Visit SassyResources.com and sign up for news alerts to stay informed as exploration continues year-round.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Ian Fraser, P.Geo., Vice President of Exploration for Sassy Resources. Mr. Fraser is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Sassy Resources Corporation
Sassy Resources is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal and base metal projects in North America. Its focus is the Foremore Project located in the Eskay Camp, Liard Mining Division, in the heart of Northwest B.C.’s prolific Golden Triangle, and the Central Newfoundland Gold Belt where Sassy is one of the district’s largest landowners.
Caution Regarding Forward Looking Statements
Investors are cautioned that, except for statements of historical fact, certain information contained in this document includes “forward looking information”, with respect to a performance expectation for Sassy Resources Corporation. Such forward looking statements are based on current expectations, estimates and projections formulated using assumptions believed to be reasonable and involving a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. Such factors include, without limitation, fluctuations in foreign exchange markets, the price of commodities in both the cash market and futures market, changes in legislation, taxation, controls and regulation of national and local governments and political and economic developments in Canada and other countries where Sassy carries out or may carry out business in the future, the availability of future business opportunities and the ability to successfully integrate acquisitions or operational difficulties related to technical activities of mining and reclamation, the speculative nature of exploration and development of mineral deposits, including risks obtaining necessary licenses and permits, reducing the quantity or grade of reserves, adverse changes in credit ratings, and the challenge of title. The Company does not undertake an obligation to update publicly or revise forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Some of the results reported are historical and may not have been verified by the Company.
Contact Info:
Mark Scott
Chief Executive Officer & Director
info@sassyresources.ca
Sassy Resources
Corporate Communications/IR
Terry Bramhall
1.604.833.6999 (mobile)
1.604.675.9985 (office)
terry.bramhall@sassyresources.ca
In Europe
Michael Adams
Managing Director - Star Finance GmbH
info@star-finance.eu
The CSE has neither approved nor disapproved the contents of this news release. 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.
Visit SassyResources.com
Great buy down here. GLM has commenced drilling on its Nevada Jewel Ridge property that continues to deliver mineralization in all holes drilled thus far. Golden Lake remains well-financed with a healthy treasury. https://goldenlakex.com
Press Release -
Golden Lake Announces Additional Drill Hole Assays Plus The Commencement Of Drilling At The Jewel Ridge Project, Nevada
Shares issued 63,197,072
VANCOUVER, BC / February 7, 2022 / Golden Lake Exploration Inc. (CSE:GLM) (OTCQB:GOLXF) ("GLM" or the "Company") wishes toreport the full and final results from drilling to date at the Jewel Ridge project in Nevada as well as report on the commencement of drilling at Jewel Ridge.
Core drilling has now commenced at the historic Hamburg mine and will seek to expand on high-grade intercepts of Carlin-style mineralization and Carbonate Replacement Deposits encountered by prior drilling. The geologic team is preparing further targets in advance of the 2022 program at the Eureka Tunnel target for spring and early summer. Big Sky Exploration LLP has been contracted again after a very successful campaign in 2021.
CEO Mike England stated "Golden Lake's geological team is very excited to return to Jewel Ridge after a very successful campaign in 2021. Some highlights from the first 2 phases include the bonanza hit from phase 1 drilling where we hit, from surface, an intercept of 24.54 meters of 9.16 grams per tonne g/t gold Au, 65.8 grams per tonne g/t silver Ag and in phase 2 a hit of 18.68 meters of 5.85 g/t Au and another 8.09 meters of 8.93 g/t Au on the first three holes of phase 2 drilling. In addition to the high grade CRD results encountered in our 2020 and 2021 drill campaigns the company is quite excited about the thick, lower grade intercepts of potentially open pit mineable Carlin-type mineralization that was also encountered in the Eureka Tunnel target area. Gold was encountered in all but one hole drilled to date and we are looking forward to focusing on new CRD targets at Hamburg to kick off this drill season."
The last five drill holes at the Eureka Tunnel target have continued to expand the footprint of the shallowly-dipping Carlin-style mineralization.
Highlights
JR-21-30DD was drilled peripheral to JR-20-12DD and averaged at 2.76 g/t Au 8.51 g/t Ag over 15.67 m with 1.52 m from 9.45 m to 10.97 m assaying at 15.81 g/t Au and 47.81 g/t Ag.
JR-21-33DD is the most southeastern hole drilled to date and encountered a low-grade zone that was punctuated by a 4.42 m intercept from 37.4 m to 41.82 m that averaged at 2.67 g/t Au and 7.86 g/t Ag. The Golden Lake team is encouraged and are working on understanding this dimension of the Eureka Tunnel zone.
JR-21-31DD and JR-21-34DD have expanded the Eureka Tunnel mineralized zone to the north. Mineralization remains open in the north at depth and along strike with rock sampling on the surface indicating the potential for higher-grade zones.
Drilling Quality Assurance and Quality Control Statement
Procedures have been implemented to assure QA/QC of drill hole assaying being done at an ISO accredited assay laboratory. All intervals of drill holes are being assayed and samples have been securely shipped and received by Paragon Geochemical in Sparks, Nevada, with chain-of-custody documentation through delivery. Mineralized commercial reference standards and coarse blank standards are inserted every 20th sample in sequence. All results will be analyzed for consistency.
About the Jewel Ridge Property
The Jewel Ridge property is located on the south end of Nevada's prolific Battle Mountain - Eureka trend, along strike and contiguous to Barrick Gold's Archimedes/Ruby Hill gold mine to the north and Timberline Resources' advanced-stage Lookout Mountain project to the south.
The property comprises 96 unpatented lode mining claims and 30 patented claims covering approximately 728 hectares (1,800 acres). The Jewel Ridge property contains several historic small gold mines. The Company's focus is on Carlin-style disseminated gold deposits, the primary focus in the area since the late 1970s.
Nevada Carlin-type gold deposits (CTGD) have a combined endowment of more than 250 million ounces, which are concentrated (85 per cent) in only four trends or camps of deposits: Carlin, Cortez (Battle Mountain-Eureka), Getchell and Jerritt Canyon. The Company cautions that results on adjacent and/or nearby projects are not necessarily indicative of results on the Company's property.
Qualified Person
Golden Lake Exploration's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Garry Clark, P.Geo., who serves as a qualified person under the definition of National Instrument 43-101.
About Golden Lake Exploration Inc.
Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property.
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
TollFree:1-888-945-4770
http://goldenlakex.com
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
News: Drilling to start this month on uranium project.
SASSY COMPLETES DEFINITIVE OPTION AGREEMENT FOR HIGHROCK URANIUM PROJECT
VANCOUVER, British Columbia, February 10, 2022 – Sassy Resources Corporation (“Sassy” or the “Company”) (CSE: SASY) (FSE: 4E7) (OTCQB: SSYRF) has completed the definitive option agreement (the “Agreement”) for the Highrock Uranium Project in Saskatchewan, south of Cameco’s Key Lake site, with project operator Forum Energy Metals Corp. (refer to January 6, 2022 news release).
Mobilization for access to the Highrock drill sites by a winter haul road is in progress with the start of drilling anticipated this month.
Mr. Mark Scott, Sassy CEO, commented, “We are very pleased to have completed the definitive option agreement for the Highrock Project, following up on the terms laid out in the original Letter of Intent signed with Forum Energy Metals in early January. We have high quality drill targets at Highrock, offering shareholders excellent leverage to a potential new discovery and uranium market upside this year and beyond.”
As announced January 6, 2022, Sassy signed a binding Letter of Intent (the “LOI”) with Forum Energy Metals to acquire up to 100% of Highrock on terms spread out over four years. The definitive option agreement further details the terms originally outlined in the LOI.
Highrock Project Location Map
The Deal:
Sassy paid Forum $50,000 cash upon signing of the binding LOI. Sassy has paid Forum an additional $50,000 cash and 250,000 Sassy shares on signing of the definitive option agreement. The Agreement between Sassy and Forum describes a staged earn-in under which Sassy will initially acquire a 20% interest in Highrock by making the cash and share payments listed above and completing $1,000,000 in exploration expenditures during 2022. To date, Sassy has contributed $300,000 to the fully funded 2022 exploration program;
Sassy can earn an additional 31% interest (51% total) by paying $50,000 cash and 250,000 shares on or about January 2, 2023, and by providing $1,000,000 in exploration funding for 2023;
Sassy can earn an additional 19% interest (70% total) by paying $50,000 cash, 250,000 shares on or about January 2, 2024 and providing $1,500,000 in exploration funding for 2024;
The final 30% interest in the Property (100% total) may be acquired by Sassy by paying Forum $150,000 in cash and 3,000,000 shares on or before December 31, 2025;
In total, to acquire 100% of Highrock, Sassy will pay $350,000 in cash, issue 3,750,000 shares and provide up to $3,500,000 in exploration funding over four years between January 3, 2022, and December 31, 2025. Should the project advance to this stage, Sassy will pay Forum $1,000,000 on delivery of a Feasibility Study and a further $3,000,000 on commencement of commercial production. Forum maintains a 1% NSR on Highrock, half of which (0.5%) can be purchased by Sassy prior to the commencement of commercial production for the sum of $1,000,000. A 1% NSR on the north claim (S-113362) is shared by third parties, half of which (0.5%) may be purchased by Sassy for the sum of $1,000,000. A 2% NSR on the south claim (MC00013262) is held by a third party and at present is not subject to a repurchase clause;
Forum Energy Metals will act as project operator for 2022 and 2023 and may do so at Sassy’s option in 2024.
Subscribe for Updates
Visit SassyResources.com and sign up for news alerts to stay informed as exploration continues year-round.
About Sassy Resources Corporation
Sassy Resources is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal, base metal and uranium projects in North America. Its focus is the Foremore Project located in the Eskay Camp, Liard Mining Division, in the heart of Northwest B.C.’s prolific Golden Triangle; the Central Newfoundland Gold Belt where Sassy is one of the district’s largest landowners; and the recently acquired Highrock Uranium Project in the Key Lake region of Saskatchewan’s Athabasca Basin.
Caution Regarding Forward Looking Statements
Investors are cautioned that, except for statements of historical fact, certain information contained in this document includes “forward looking information”, with respect to a performance expectation for Sassy Resources Corporation. Such forward looking statements are based on current expectations, estimates and projections formulated using assumptions believed to be reasonable and involving a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. Such factors include, without limitation, fluctuations in foreign exchange markets, the price of commodities in both the cash market and futures market, changes in legislation, taxation, controls and regulation of national and local governments and political and economic developments in Canada and other countries where Sassy carries out or may carry out business in the future, the availability of future business opportunities and the ability to successfully integrate acquisitions or operational difficulties related to technical activities of mining and reclamation, the speculative nature of exploration and development of mineral deposits, including risks obtaining necessary licenses and permits, reducing the quantity or grade of reserves, adverse changes in credit ratings, and the challenge of title. The Company does not undertake an obligation to update publicly or revise forward looking statements or information, whether as a result of new information, future events or otherwise unless so required by applicable securities laws. Some of the results reported are historical and may not have been verified by the Company.
Contact Info:
Mark Scott
Chief Executive Officer & Director
info@sassyresources.ca
Terry Bramhall
Sassy Resources
Corporate Communications/IR
1.604.833.6999 (mobile)
1.604.675.9985 (office)
terry.bramhall@sassyresources.ca
In Europe
Michael Adams
Managing Director - Star Finance GmbH
info@star-finance.eu
Drill results from the summer/fall Eskay Creek program are expected anytime.
Blue Moon Signs Marketing Agreement with Think Ink Marketing
February 7, 2022 – Blue Moon Metals Inc. (TSXV: MOON; OTCQB: BMOOF) (the “Company”) is pleased to report it has signed an agreement with Think Ink Marketing Data & Email Services Inc. (“Think Ink”) to provide public relations services in an effort to increase public awareness of the Company and its Blue Moon project. The agreement is on a month-to-month basis with either party having the right to terminate upon written notice. The company has budgeted up to $10,000 per month for the marketing services of Think Ink, including on-line banner and native ads.
Think Ink is a California-based marketing firm established in 1991 that provides its customers with a complete range of marketing services that includes data appending, e-mail marketing and pay-per-click on-line banner/native ads. Think Ink helps its clients to reach a large network of potential investors.
About Blue Moon Metals
Blue Moon Metals (TSX.V: MOON; OTCQB: BMOOF) is currently advancing its Blue Moon polymetallic deposit which contains zinc, gold, silver and copper. The property is well located with existing local infrastructures including paved highways three miles from site; a hydroelectric power generation facility a few miles from site, three-hour drive to the Oakland port and a four-hour drive to service centre of Reno. The deposit is open at depth and along strike. The Blue Moon 43-101 Mineral Resource includes 7.8 million inferred tons at 8.07% zinc equivalent (4.95% zinc, 0.04 oz/t gold, 0.46% copper, 1.33 oz/t silver), containing 771 million pounds of zinc, 300,000 ounces of gold, 71 million pounds of copper, and 10 million ounces of silver. The 43-101 Mineral Resource report dated November 14, 2018 was authored by Gary Giroux, P. Eng., and Lawrence O’Connor, a QP, and entitled “Resource Estimate for the Blue Moon Massive Sulphide Occurrence”. The 43-101 and related press release with details on the resource are available on the company’s website and were filed on www.sedar.com on November 20, 2018. The Company also holds 100% of the Yava polymetallic project in Nunavut that is in the same volcanic lithologies and south of Glencore’s Hackett River deposit. More information is available on the company’s website (www.bluemoonmetals.com).
Qualified Persons
John McClintock, P. Eng, a Director of the Company, is a qualified person as defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this press release.
For more information please contact:
Patrick McGrath, CEO
+1-832-499-6009
pmcgrath@bluemoonmining.com
Kevin Shum
Investor Relations
+1-647-725-3888 ext702
kevin@jeminicapital.com
Telo Genomics Appoints Dr. McGlennen as Board Director, a Leader in Commercializing Novel Diagnostic Technologies
Toronto, Ontario--(Newsfile Corp. - February 3, 2022) - Telo Genomics Corp. (TSXV: TELO) (the "Company" or "TELO") is pleased to announce that Dr. Ron McGlennen, President and Founder of the medical laboratory Access Genetics, Minnesota, USA, has joined its Board of Directors. Dr. McGlennen brings unique and valuable expertise to TELO's board with extensive experience in successfully introducing novel diagnostics technologies into clinical laboratories across the USA.
Dr. McGlennen brings over 30 years of leadership in the development and commercialization of innovative diagnostic and prognostic technologies across multiple disease areas. He is internationally recognized as an expert in molecular biology and genetics. Over the past decades, Dr. McGlennen has acted as medical director of several clinical laboratories across the USA. He is currently Associate Professor of Pathology at the University of Minnesota Medical School and has published more than 70 peer reviewed publications and book chapters. He holds 9 issued and pending patents. He is board certified in Anatomic and Clinical Pathology and also by the American Board of Medical Genetics, with a specialty in clinical molecular genetics. Dr. McGlennen has also served on a series of governmental and regulatory committees focused on the growth of the field of molecular diagnostics.
"I have previously collaborated with Ron on diagnostics iniatives, and am thrilled that he is now joining the TELO Board of Directors," said Guido Baechler, TELO Chairman. "Dr. McGlennen brings over 30 years of clinical laboratory leadership, especially when it comes to introducing new technologies into clinical laboratory practice. His contribution will be invaluable to execute the commercialization plan for TELO's multiple myeloma test into clinical practice."
"I am excited to join the Telo Genomics Board of Directors," said Ron McGlennen. "The TeloView® technology is supported by robust evidence and has the potential to provide effective prognostic solutions to critical unmet needs in the management of multiple myeloma and potentially other cancers as well."
About Telo Genomics
Telo Genomics is a biotech company pioneering the most comprehensive telomere platform in the industry with powerful applications and prognostic solutions. These include liquid biopsies and related technologies in oncology and neurological diseases. Liquid biopsy is a rapidly growing field of significant interest to the medical community for being less invasive and more easily replicated than traditional diagnostic approaches. By combining our team's considerable expertise in quantitative analysis of 3D telomeres with molecular biology and artificial intelligence to recognize disease-associated genetic instability, Telo Genomics is developing simple and accurate products that improve day-to-day care for patients by serving the needs of pathologists, clinicians, academic researchers and drug developers. The benefits of our proprietary technology have been substantiated in over 150 peer reviewed publications and in 25 clinical studies involving more than 3,000 patients with multiple cancers and Alzheimer's disease. Our lead application, Telo-MM is being developed to provide important, actionable information to medical professionals in the treatment of Multiple Myeloma, a deadly form of blood cancer. For more information please visit www.telodx.com.
For further information, please contact:
Hugh Rogers, Director
416-673-8487
info@telodx.com
MaRS Centre, South Tower,
101 College Street, Suite 200,
Toronto, ON, M5G 1L7
www.telodx.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "intends", "will", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the clinical efficacy of products, commercial viability of products, use of proceeds, and the ability of the TeloViewTM platform to deliver personalized medicine resulting in better treatments and outcomes are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112546
SASSY RECEIVES DRILL PERMIT FOR HIGHROCK URANIUM PROJECT
DRILLING EXPECTED TO COMMENCE IN FEBRUARY
VANCOUVER, British Columbia, January 24, 2022 – Sassy Resources Corporation (“Sassy” or the “Company”) (CSE: SASY) (FSE: 4E7) (OTCQB: SSYRF)
Is pleased to announce that it has received drill permits for the Highrock Uranium Project through project operator Forum Energy Metals. Sassy intends to execute an approximate 3,000-meter diamond drill program consisting of 10-12 holes. Mobilization for access to the drill sites by a winter haul road has commenced with drilling anticipated in February. Sassy and Forum will provide a thorough overview of the project plans once the drills are turning.
The property is located just south of the Key Lake mine and mill site. The Key Lake mine generated historic production of greater than 200 million pounds of uranium during its mine life. The Key Lake site continues to host a uranium processing facility operated by Cameco.
Mr. Ian Fraser, PGeo, Sassy VP Exploration, commented, “We look forward to getting onto the Highrock Property and following up on two main areas of interest previously identified by Forum. The first area is immediately adjacent to the southernmost Key Lake Project claim, testing a large gravity low that covers the same EM graphitic conductor that hosts the Key Lake deposits. The second area presents a series of gravity lows along the same EM graphitic conductor on the south part of the project.”
As announced January 6, 2022, Sassy has signed a binding Letter of Intent (the “LOI”) with Forum Energy Metals to acquire up to 100% of Highrock on terms spread out over four years.
Highrock Project Location Map
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Visit SassyResources.com and sign up for news alerts to stay informed as exploration continues year-round.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Ian Fraser, P.Geo., Vice President of Exploration for Sassy Resources. Mr. Fraser is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Sassy Resources Corporation
Sassy Resources is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal, base metal and uranium projects in North America. Its focus is the Foremore Project located in the Eskay Camp, Liard Mining Division, in the heart of Northwest B.C.’s prolific Golden Triangle, the Central Newfoundland Gold Belt where Sassy is one of the district’s largest landowners, and the recently acquired Highrock uranium project in the Key Lake region of Saskatchewan’s Athabasca Basin.
Caution Regarding Forward Looking Statements
Investors are cautioned that, except for statements of historical fact, certain information contained in this document includes “forward looking information”, with respect to a performance expectation for Sassy Resources Corporation. Such forward looking statements are based on current expectations, estimates and projections formulated using assumptions believed to be reasonable and involving a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. Such factors include, without limitation, fluctuations in foreign exchange markets, the price of commodities in both the cash market and futures market, changes in legislation, taxation, controls and regulation of national and local governments and political and economic developments in Canada and other countries where Sassy carries out or may carry out business in the future, the availability of future business opportunities and the ability to successfully integrate acquisitions or operational difficulties related to technical activities of mining and reclamation, the speculative nature of exploration and development of mineral deposits, including risks obtaining necessary licenses and permits, reducing the quantity or grade of reserves, adverse changes in credit ratings, and the challenge of title. The Company does not undertake an obligation to update publicly or revise forward looking statements or information, whether as a result of new information, future events or otherwise unless so required by applicable securities laws. Some of the results reported are historical and may not have been verified by the Company.
Contact Info:
Mark Scott
Chief Executive Officer & Director
info@sassyresources.ca
Terry Bramhall
Sassy Resources
Corporate Communications/IR
1.604.833.6999 (mobile)
1.604.675.9985 (office)
terry.bramhall@sassyresources.ca
Sassy Resources Letter to Shareholders / October 28th, 2021
https://sassyresources.com/lettertoshareholders/
.SASSY ANNOUNCES DIVIDEND SPINOUT
OF 8.83 MILLION GANDER GOLD SHARES
VANCOUVER, British Columbia, October 15, 2021 – Sassy Resources Corporation (“Sassy” or the “Company”) (CSE: SASY) (FSE: 4E7) (OTCQB: SSYRF) is pleased to announce that its Board of Directors has approved the dividend spinout distribution (the “Spinout”) to its shareholders of an aggregate of 8,833,333 common shares (the “Gander Shares”) in the Company’s wholly-owned subsidiary, Gander Gold Corporation (“Gander”). This number of Gander Shares represents the settlement of 100% of the debt outstanding between Gander and Sassy associated with the acquisition of the Company’s Newfoundland exploration properties.
The Company currently has 47,537,506 common shares (the “Sassy Shares”) issued and outstanding. Accordingly, the planned dividend distribution of 8,833,333 Gander shares would represent a ratio of one (1) Gander share for every 5.3816 Sassy shares owned by a Sassy shareholder as of the record date of February 1, 2022, or alternatively 0.1858 Gander shares for every one (1) Sassy share owned as of the record date. The final spinout ratio is subject to any changes to the Sassy share structure between the date of this announcement and the final record date for the dividend distribution, along with the approval of Gander’s imminent application to list on a Canadian stock exchange.
Sassy is in the final stages of preparing the application to list Gander on a Canadian stock exchange. Upon listing, Gander is expected to have 71,395,556 Gander Shares issued and outstanding, with nil share purchase warrants outstanding. Following execution and completion of the Spinout, Sassy will maintain ownership of 35,330,556 Gander Shares, representing approximately 49.5% ownership of Gander. Eric Sprott will beneficially own 10,666,667 Gander Shares, representing approximately 15% ownership.
Comments From Mr. Mark Scott, Sassy President & CEO
“The planned dividend spinout of over 8.8 million Gander shares to our Sassy shareholders represents the first quantifiable delivery of value to our shareholders resulting from our strategic early move into Newfoundland and should represent a material premium to Sassy’s share price.
“We have been very effective at managing Sassy’s share structure as well as Gander’s while building for our investors a compelling portfolio of grassroots properties in Newfoundland covering 2,257 sq. km (8 separate projects), one of the largest land packages on the island. Initial work has been very promising with Gander Gold on track in management’s view to become a leading and well-financed Newfoundland discovery opportunity when it comes to trade. I wish to congratulate the Board for their efforts and thank our shareholders for their ongoing support as we work to build sustainable shareholder value in both Sassy and Gander.”
Moving Forward
Further updates on the listing of Gander and the spinout will be provided as the Gander listing application proceeds and the record date for the dividend distribution of Gander Shares approaches.
Results are pending from the Company’s ongoing early-stage exploration program across its extensive project areas in Newfoundland. Results are also pending from the recently completed 2021 field exploration program, including diamond drilling, at the Company’s 100%-owned 146 sq. km Foremore Project in Northwest B.C.’s prolific Eskay Camp.
Subscribe for Updates
Additional photographs and videos from the Company’s projects in Northwest B.C. and Newfoundland will be added to the Sassy website over the coming days and weeks. Visit www.SassyResources.com and sign up for news alerts to stay informed as exploration in Newfoundland continues year-round.
About Sassy Resources Corporation
Sassy Resources is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal and base metal projects in North America. Its focus is the Foremore Project located in the Eskay Camp, Liard Mining Division, in the heart of Northwest B.C.’s prolific Golden Triangle, and the Central Newfoundland Gold Belt where Sassy is one of the district’s largest landowners.
Caution Regarding Forward Looking Statements
Investors are cautioned that, except for statements of historical fact, certain information contained in this document includes “forward looking information”, with respect to a performance expectation for Sassy Resources Corporation. Such forward looking statements are based on current expectations, estimates and projections formulated using assumptions believed to be reasonable and involving a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. Such factors include, without limitation, fluctuations in foreign exchange markets, the price of commodities in both the cash market and futures market, changes in legislation, taxation, controls and regulation of national and local governments and political and economic developments in Canada and other countries where Sassy carries out or may carry out business in the future, the availability of future business opportunities and the ability to successfully integrate acquisitions or operational difficulties related to technical activities of mining and reclamation, the speculative nature of exploration and development of mineral deposits, including risks obtaining necessary licenses and permits, reducing the quantity or grade of reserves, adverse changes in credit ratings, and the challenge of title. The Company does not undertake an obligation to update publicly or revise forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Some of the results reported are historical and may not have been verified by the Company.
Contact info:
Mark Scott
Chief Executive Officer & Director
info@sassyresources.ca
Terry Bramhall
Sassy Resources
Corporate Communications/IR
1.604.833.6999 (mobile)
1.604.675-9985 (landline)
terry.bramhall@sassyresources.ca
In Europe:
Michael Adams
Managing Director - Star Finance GmbH
info@star-finance.eu
The CSE has neither approved nor disapproved the contents of this news release. 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.
Telo Genomics Adopts Advanced Notice Provisions in By-Laws
Toronto, Ontario--(Newsfile Corp. - October 5, 2021) - Telo Genomics Corp. (TSXV: TELO) (the "Company" or "TELO") is pleased to announces its board of directors (the "Board") has adopted amendments to its By-Laws (the "Amended By-Laws") to include advance notice provisions (the "Advance Notice Provisions") which require shareholders of the Company ("Shareholders") to provide advance notice to the Company when nominating persons for election to the Board. The Advance Notice Provisions provide the required form and contents for a Shareholder to give notice and fixes the deadline by which Shareholders must submit director nominations to the Company prior to any annual or special meeting of Shareholders.
The Advance Notice Provisions will: (i) facilitate orderly and efficient annual general or special meetings ("AGSM"); (ii) ensure that all Shareholders receive adequate notice of director nominations and sufficient information with respect to all nominees; and (iii) allow Shareholders to register an informed vote.
A shareholder must provide notice (a "Nominating Shareholder") to the Company in proper written form and the notice must be made:
in the case of an annual meeting of Shareholders, not less than 30 nor more than 65 days prior to the date of the annual meeting, provided that
if the Company chooses to use notice and access to deliver meeting materials, the time frame will be not less than 40 and no more than 65 days, and
if the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the meeting was made (the "Notice Date"), notice by the Nominating Shareholder may be made not later than the close of business on the 10th day following the Notice Date; and
in the case of a special meeting of Shareholders (which is not also an annual meeting) called for the purpose of electing directors (whether or not called for other purposes), not later than the close of business on the 15th day following the Notice Date.
The Amended By-Laws have been approved by the board of directors, are currently in effect and will be placed before Shareholders for confirmation, approval and ratification at the next AGSM. The full text of the Advance Notice Provisions will be included in the meeting materials sent to the Shareholders for the next AGSM. Pursuant to the Canada Business Corporations Act, if the Amended By-Laws are approved by the Shareholders, the Amended By-Laws will continue to be effective. Failing confirmation by the Shareholders, the Amended By-Laws will cease to be effective.
The Company also previously amended its By-Laws to enable the Company to hold shareholder meetings partially or entirely by telephonic, electronic or other communication facility. This amendment was adopted by the Board and subsequently confirmed by the Shareholders at their annual general meeting held on March 4, 2021.
The Amended By-Laws are subject to the approval of the TSX Venture Exchange.
About Telo Genomics
Telo Genomics is a biotech company pioneering the most comprehensive telomere platform in the industry with powerful applications and prognostic solutions. These include liquid biopsies and related technologies in oncology and neurological diseases. Liquid biopsy is a rapidly growing field of significant interest to the medical community for being less invasive and more easily replicated than traditional diagnostic approaches. By combining our team's considerable expertise in quantitative analysis of 3D telomeres with molecular biology and artificial intelligence to recognize disease associated genetic instability, Telo Genomics is developing simple and accurate products that improve day-to-day care for patients by serving the needs of pathologists, clinicians, academic researchers and drug developers. The benefits of our proprietary technology have been substantiated in over 150 peer reviewed publications and in 25 clinical studies involving more than 3,000 patients with multiple cancers and Alzheimer's disease. Our lead application, Telo-MM is being developed to provide important, actionable information to medical professionals in the treatment of Multiple Myeloma, a deadly form of blood cancer. For more information please visit www.telodx.com.
For further information, please contact:
Hugh Rogers, Director
416-673-8487
info@telodx.com
MaRS Centre, South Tower, 101 College Street, Suite 200, Toronto, ON, M5G 1L7
www.telodx.com
Tina Byers
Investor Relations
Adelaide Capital
Phone: 905.330.3275
E-mail: tina@adcap.ca
Telo Genomics Engages Clinical and Regulatory Affairs Veteran to Lead the Company's ISO 15189 Certification & CLIA Laboratory Accreditation Undertaking
Toronto, Ontario--(Newsfile Corp. - August 9, 2021) - Telo Genomics Corp. (TSXV: TELO) (the "Company" or "TELO") is pleased to announce that the Company has entered into an agreement with the clinical laboratory veteran Mark Stene, Founder & President of MyClinLab® LLC, Austin, Texas USA. Mark Stene is a former senior executive with several clinical laboratories and medical device enterprises in the USA. Dr. Stene brings a record of accomplishment in guiding biotech companies through the process of achieving clinical laboratory accreditation. Dr. Stene will lead TELO's efforts to achieve the ISO 15189 certification, specific for medical laboratories, and the certified Clinical Laboratory Improvement Amendments (CLIA) accreditation.
"I have previously collaborated with Mark and am excited to have him onboard leading our efforts to achieve laboratory designations for TELO labs," said Guido Baechler, TELO Chairman. "Mark brings over 30 years of executive experience in clinical laboratory management and accreditation; his contribution will be critical in moving the commercialization of our multiple myeloma tests into the clinic in the US and Canada."
Dr. Stene founded MyClinLab in 2019, a Texas based consultancy to provide regulatory and staffing support to biotechnology or service clinical laboratories. Since 1987, Dr. Stene held key positions and executive roles with Veridia Diagnostics, Quest Diagnostics and LabCorp/Esoterix/Endocrine Sciences. In addition to senior administrative responsibilites, he focused on the commercialization of several immunoassay, mass spectrometry and molecular testing methods as clinical laboratory tests. In his career, Dr. Stene has repeatedly led teams transitioning research-based testing into the more regulated clinical laboratory setting. Mark holds a Doctoral Degree in Experimental Pathology and an Executive MBA, both from the University of California, Los Angeles. Dr. Stene is a licensed California Clinical Laboratory Scientist and a licensed New York State Department of Health Laboratory Director.
"I am thrilled to work with the Telo Genomics team," said Mark Stene. "The TeloView® technology is precise, and has the potential to deliver acurate prognostic results to address key clinical unmet needs to identify multiple myeloma patients who will benefit from a specific treatment, predict patient response to treatment, and monitor treatment outcomes over time."
About Telo Genomics
Telo Genomics is a biotech company pioneering the most comprehensive telomere platform in the industry with powerful applications and prognostic solutions. These include liquid biopsies and related technologies in oncology and neurological diseases. Liquid biopsy is a rapidly growing field of significant interest to the medical community for being less invasive and more easily replicated than traditional diagnostic approaches. By combining our team's considerable expertise in quantitative analysis of 3D telomeres with molecular biology and artificial intelligence to recognize disease-associated genetic instability, Telo Genomics is developing simple and accurate products that improve day-to-day care for patients by serving the needs of pathologists, clinicians, academic researchers and drug developers. The benefits of our proprietary technology have been substantiated in over 150 peer reviewed publications and in 25 clinical studies involving more than 3,000 patients with multiple cancers and Alzheimer's disease. Our lead application, Telo-MM is being developed to provide important, actionable information to medical professionals in the treatment of Multiple Myeloma, a deadly form of blood cancer. For more information please visit www.telodx.com.
For further information, please contact:
Hugh Rogers, Director
416-673-8487
info@telodx.com
MaRS Centre, South Tower, 101 College Street, Suite 200, Toronto, ON, M5G 1L7
www.telodx.com
Drilling Targets New Veins at Westmore Gold-Silver Discovery
2021-07-30 08:01 ET - News Release
VANCOUVER, BC / ACCESSWIRE / July 30, 2021 / Sassy Resources Corporation ("Sassy" or the "Company") (CSE:SASY)(FSE:4E7)(OTCQB:SSYRF) confirms that diamond drilling has commenced at the Westmore Discovery Zone in the southwest portion of the Company's 100%-owned Foremore Property in Northwest B.C.'s prolific Eskay Camp. Initial drill holes will target individual veins with impressive widths at surface up to five meters and vein swarms and stockworks with total widths on surface of 15 to 20 meters in a potential significant expansion of the discovery to the south, the east, and at depth.
While drilling continues at Westmore, crews have started to ground truth multiple VTEM™ and magnetic anomalies identified in the preliminary data generated by the recently completed high resolution, deep penetrating 1,687 line-kilometer airborne VTEM™ Survey across the broader property. Priority targets for ground truthing and possible Phase II diamond drilling are present in each of the Westmore, More Creek Corridor and Hanging Valley areas of the 146 sq. km Foremore Project. Detailed interpretation of the final data from the survey is ongoing and will be published when complete.
Mr. Mark Scott, Sassy CEO, commented: "The diamond drill is turning at the Westmore Discovery Zone on veins and swarms that feature widths significantly greater than those intersected with our six highly encouraging maiden drill holes in 2020 and at a lower elevation, which will give us a much deeper ‘look' into the Westmore granodiorite intrusive and the auriferous quartz veins which penetrate it. Crews are following up on the promising preliminary results of the recently completed property-wide VTEM Survey and we're confident that work will generate fresh drill targets for later this season and beyond."
Photographs and videos from the Company's projects in British Columbia and Newfoundland will be added to the Sassy website regularly throughout the 2021 field season. Visit SassyResources.com for more information and sign up for news alerts to stay informed as the Company's exploration programs ramp up this quarter.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Ian Fraser, P.Geo., Vice President of Exploration for Sassy Resources. Mr. Fraser is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Sassy Resources Corporation
Sassy Resources is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal and base metal projects in North America. Its focus is the Foremore Project located in the Eskay Camp, Liard Mining Division, in the heart of Northwest B.C.'s prolific Golden Triangle, and the Central Newfoundland Gold Belt where Sassy is one of the district's largest landowners.
Contact Info: Mark Scott Chief Executive Officer & Director info@sassyresources.ca Terry Bramhall Sassy ResourcesCorporate Communications/IR 1-604.833.6999 (cell) 1-604.675.9985 (landline) terry.bramhall@sassyresources.ca In Europe: Michael Adams Managing Director – Star Finance GmbH info@star-finance.eu
The CSE has neither approved nor disapproved the contents of this news release. 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.
© 2021 Canjex Publishing Ltd. All rights reserved
CSE :SASY ; OTC :SSYRF ; FSE/SWE: E47
Telo Genomics Announces Co-Authored Publication of a Prospective 5-year Multiple Myeloma
Study - Successfully Identifying High Risk versus Low Risk Smoldering Myeloma Patients
Toronto, Ontario, April 29, 2021 – Telo Genomics Corp. (TSX-V: TELO) (the “Company” or “TELO”)
is
pleased to announce that it has co-authored a publication demonstrating TELO’s ability to identify high
risk versus low-risk smoldering myeloma patients in a large longitudinal prospective multiple myeloma
clinical study including 214 patients. The study was recently published in the Scientific Journal titled
“Cancers”.
“This study confirms the potential of TeloView® technology to fill an important unmet
diagnostic/prognostic need for multiple myeloma and its precursors,” said Guido Baechler, TELO’s
Chairman. “We see now the potential to accelerate the transition of TeloView® tests towards
commercialization.”
The patient groups included cohorts for the typical stages of the disease, form the least to the most
advanced: monoclonal gammopathy of undetermined significance (MGUS) (n=54); smoldering multiple
myeloma (SMM) (n=24) and multiple myeloma (MM) (n=136). All patient samples were assessed using
Telo Genomics’ proprietary technology platform TeloView®. Patients in the study were followed
prospectively for up to 5 years.
The most important result was the identification of high-risk SMM patients who progressed to active MM
(symptomatic) within 1-3 years from point of diagnosis versuslow risk stable SMM patients who remained
at the smoldering stage (asymptomatic) for over 5 years with high significance. Moreover, TeloView®
analysis identified MM patients with stable form of the disease versus those with aggressive form of the
disease with high significance. Importantly, the quantification of TeloView® parameters correlated with
MM patient’s survival rate. Currently, there is no single clinical test that allows the identification of high
risk versus low risk smoldering myeloma patients.
The results of this study validate the findings of previously published MM clinical studies using TeloView®
that were published in 2014 and 2019, with a total number of 362 patients analyzed to date across the
three published clinical studies.
Multiple myeloma is a highly challenging and deadly blood cancer that forms in plasma cells, a type of
white blood cell. Symptoms include bone pain, frequent infections, fatigue, and weight loss. Smoldering
multiple myeloma is an asymptomatic precursor to active multiple myeloma. There is an increasing
industry trend towards identifying high-risk smoldering multiple myeloma patients to initiate early
treatment and achieve better clinical outcomes (Boutros M. et al 2020). The annual incidence of multiple
myeloma is approximately 32,000 newly diagnosed cases in the USA per year, with approximately 150,000
people currently living with multiple myeloma today.
“This study is pivotal for the progress of the clinical development of TeloView® as a potentially important
prognostic tool for MM patients,” said Dr. Mai, Director and Chair of TELO’s Clinical and Scientific Advisory
Board. “The added value of this study comes from the fact that it is a prospective study with up to 5 years
of follow up data, and included a large cohort of patients.”
The study received funding support to Dr. Sabine Mai from Myeloma Canada and from the Cancer
Research Society.
Reference:
Boutros M. et al Genomic Profiling of Smouldering Multiple Myeloma Identifies Patients at a High Risk of
Disease Progression. J Clin Oncol. 2020 Jul 20;38(21):2380-2389
- 2 -
MaRS Centre, South Tower, 101 College Street, Suite 200, Toronto ON, M5G 1L7
Tel: 416-673-8487 email: info@telodx.com
https://seer.cancer.gov/statfacts/html/mulmy.html.
About Telo Genomics
Telo Genomics is a biotech company pioneering the most comprehensive telomere platform in the
industry with powerful applications and prognostic solutions. These include liquid biopsies and related
technologies in oncology and neurological diseases. Liquid biopsy is a rapidly growing field of significant
interest to the medical community for being less invasive and more easily replicated than traditional
diagnostic approaches. By combining our team’s considerable expertise in quantitative analysis of 3D
telomeres with molecular biology and artificial intelligence to recognize disease-associated genetic
instability, Telo Genomics is developing simple and accurate products that improve day-to-day care for
patients by serving the needs of pathologists, clinicians, academic researchers and drug developers. The
benefits of our proprietary technology have been substantiated in over 150 peer reviewed publications
and in 25 clinical studies involving more than 3,000 patients with multiple cancers and Alzheimer’s
disease. Our lead application, Telo-MM is being developed to provide important, actionable information
to medical professionals in the treatment of Multiple Myeloma, a deadly form of blood cancer. For more
information please visit www.telodx.com.
For further information, please contact:
Hugh Rogers, Director
416-673-8487
info@telodx.com
MaRS Centre, South Tower, 101 College Street, Suite 200, Toronto, ON, M5G 1L7
www.telodx.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Does anyone know the $$$ amount received for the first harvest?
Sassy Mobilizes for Drilling at Westmore Discovery
VANCOUVER, BC / ACCESSWIRE / July 13, 2021 / Sassy Resources Corporation ("Sassy" or the "Company") (CSE:SASY)(FSE:4E7)(OTCQB:SSYRF) is pleased to announce that crews have mobilized for the start of 2021 drilling at the Company's Westmore gold-silver discovery where a first-ever series of relatively shallow drill holes last fall confirmed that widespread surface mineralization in quartz vein swarms and stockworks extends to a vertical depth of at least 200 meters and remains open in all directions.
Sassy is aggressively following up on this new grassroots discovery in Northwest B.C.'s prolific Eskay Camp while exploration crews are also preparing for a busy summer along the More Creek Corridor and Hanging Valley areas where upcoming results from a recently completed VTEMä Survey will serve as an important guide.
Mr. Mark Scott, Sassy CEO, commented: "This is an exciting time for Sassy as we carry out fully-funded exploration campaigns in Canada's two most exciting gold camps right now, Eskay and Newfoundland. Armed with the data gathered during the 2020 field season and our recently-completed Foremore VTEMä Survey, we now know the Westmore Intrusive to be much larger than originally thought and coeval with some of the significant economic deposits in the region. We look forward to following up this year on the extensive high-grade gold identified at surface, the very encouraging 2020 preliminary drilling at Westmore and the VTEMä results we're confident will generate a number of new targets for follow up across the Foremore Property."
Highlights:
Phase 1 diamond drilling, beginning mid-July, will focus on the Westmore Discovery Zone and will be designed to test areas where 2020 surface sampling highlighted high-grade gold and silver values hosted in quartz vein swarms and stockworks that cut the Westmore Intrusive;
2019-2020 surface sampling at Westmore produced 860 surface samples with an average grade of 2.78 g/t Au. 145 of these samples (17%) were equal to or greater than 1.0 g/t and the top 20 surface samples from Westmore averaged 74.7 g/t Au and 574.7 g/t Ag (see table below);
Sassy recently completed a 1,687 line-kilometer airborne VTEMä Survey of the entire Foremore Property. Preliminary interpretation of the data generated by this high resolution, deep penetrating survey is ongoing;
Phase 2 diamond drilling will be guided by VTEMä results and will test several gold-silver plus base metal occurrences identified by Sassy in the More Creek Corridor, and the Hanging Valley area on the east side of the Foremore Property;
Geological mapping and prospecting will continue at Westmore to define local controls to the gold-silver mineralization identified in 2020 and to define other gold-silver rich areas within the Westmore Intrusive.
Westmore Discovery zone - Top 20 SURFACE SAMPLES
Sample #
Type
Au (g/t)
Ag (g/t)
C0012933
Grab
157
83.5
B0020723
Outcrop
125.5
1900
C0012607
Chip
120.4
35.3
B0020721
Outcrop
119.6
1,036
C0012588
Chip
101
1,320
C0026497
Chip
96.9
68.1
C0026509
Chip
92.6
1,510
C0012901
Chip
82.9
35.6
B0020722
Outcrop
81.1
987
C0026571
Grab
61
39.3
C0012801
Chip
59.4
286
C0012938
Grab
54.4
40.6
C0012606
Float
49.6
1,481
C0026494
Grab
48.5
14.8
C0012511
Chip
47.5
691
B0020724
Outcrop
44.3
750
C0026552
Chip
39.8
29
C0026513
Chip
38.7
62.6
B0020725
Outcrop
36.8
450
C0026519
Chip
36.5
674
Average
74.7 g/t
574.7 g/t
Total 2019-2020 Samples: 860 | Average gold grade: 2.78 g/t | 145 samples or 17% >1 g/t Au
Note: Investors are cautioned that surface rock samples are selective in nature and are not necessarily
representative of mineralization hosted on the property.
Foremore Project Map
Sassy Launches New Website: SassyResources.com
Sassy Resources is pleased to announce the official launch of its new corporate website, SassyResources.com . The new site hosts a wealth of Company information, photo galleries, videos, a new corporate presentation and detailed project-by-project descriptions of the Company's holdings in Newfoundland and the Eskay Camp. Current and prospective investors are encouraged to visit the new site and register for Company news alerts and updates as work progresses on the ground at each of the Company's projects and information is added regularly to the new site.
Corporate Presentation
To view the new Sassy Corporate Deck, visit the home page of the website or the following URL:
https://sassyresources.com/SassyResources_July6_2021.pdf
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Ian Fraser, P.Geo., Vice President of Exploration for Sassy Resources. Mr. Fraser is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Sassy Resources Corporation
Sassy Resources is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal and base metal projects in North America. Its current focus is the Foremore Gold-Silver Project located in the Eskay Camp, Liard Mining Division, in the heart of Northwest B.C.'s prolific Golden Triangle.
Caution Regarding Forward Looking Statements
Investors are cautioned that, except for statements of historical fact, certain information contained in this document includes "forward looking information", with respect to a performance expectation for Sassy Resources Corporation. Such forward looking statements are based on current expectations, estimates and projections formulated using assumptions believed to be reasonable and involving a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. Such factors include, without limitation, fluctuations in foreign exchange markets, the price of commodities in both the cash market and futures market, changes in legislation, taxation, controls and regulation of national and local governments and political and economic developments in Canada and other countries where Sassy carries out or may carry out business in the future, the availability of future business opportunities and the ability to successfully integrate acquisitions or operational difficulties related to technical activities of mining and reclamation, the speculative nature of exploration and development of mineral deposits, including risks obtaining necessary licenses and permits, reducing the quantity or grade of reserves, adverse changes in credit ratings, and the challenge of title. The Company does not undertake an obligation to update publicly or revise forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Some of the results reported are historical and may not have been verified by the Company.
Contact Info:
Mark Scott
Chief Executive Officer & Director
info@sassyresources.ca
Terry Bramhall
Sassy Resources Corporate Communications/IR
1.604.833.6999 (mobile)
1.604.675.9985 (office)
terry.bramhall@sassyresources.ca
In Europe:
Michael Adams
Managing Director - Star Finance GmbH
info@star-finance.eu
The CSE has neither approved nor disapproved the contents of this news release. 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.
SOURCE: Sassy Resources Corporation
Sassy Resources up 22.6% today to .81 cents today in OTC trading. Tomorrow is shaping up with Sassy poised to crack a dollar at least in Canadian trading. Newfoundland stocks are on fire!
Holiday Monday in Canada means all trading in Sassy will happen in the USA OTC/SSYTF.
What the World's Greatest Gold Prospector Knows
Sassy Geologist featured in "Popular Mechanics".
https://www.popularmechanics.com/adventure/outdoors/a20066497/shawn-ryan-ground-truth-gold-rush/
The Rush: What the World's Greatest Gold Prospector Knows
Deep in the Yukon, the world’s most successful prospector is using advanced technology to find ever tinier flecks of gold that could be worth billions. How does he find what no one else finds?
GENESEE KEEVIL
MAY 17, 2018
Shawn RyanDANNY WILCOX FRAZIER
The legend appears like a ghost one afternoon, a long way from anywhere.
Deep in a valley that looks a lot like every other spruce- and poplar-filled valley sprawling hundreds of miles south from Dawson City, Yukon, a mineral-staking crew slogs up a creek humping chainsaws and smartphones. This is far-flung subarctic wilderness—no roads, no people, just a lot of bears and buckbrush. It’s late fall 2016, and the crew is fanning out across boggy moose pasture, crossing icy creeks just deep enough to soak their boots. These men are claiming ground the way prospectors have for centuries, with a few modern improvements: They drive spruce posts into the dirt, blaze them with an axe, and scrawl a name and some coordinates with a black Sharpie. On one, the crew scribbles the name of a soccer mom back home. Five miles down, the name of another local parent is scratched onto another post. Each name on a post signals the claiming of one five-mile lease, which includes rights to all the precious metals and minerals that chunk of land contains.
“THERE’S THE ARSENIC, HUH. WHERE IS THE GOLD, BABY?”
Prospecting is a billion-dollar industry in Alaska and the Yukon—hundreds of small operations and a handful of big ones employ roughly 1,500 people who do everything from geological assay to land surveying to drilling. This crew works for a man named Shawn Ryan, who is the most famous gold prospector in these parts, maybe in North America, maybe in the world. Ryan walked five hundred miles across the Arctic, alone, and chased migrating musk ox in an attempt to gather qiviut, and revolutionized the mushroom-foraging industry by applying data analysis and technology no mushroom forager had ever used. His success in prospecting for gold has been equally unorthodox. Over the past seventeen years, he has developed an extensive soil-sampling program, using machines he dreamed up and built from component parts raided from other industries. The mineral-exploration company he leads is called GroundTruth Exploration, because Ryan feels he can get to the truth of what lies beneath the earth’s surface better and faster than anyone else. It has made him a millionaire several times over. (On paper, Ryan is technically an independent prospector and his wife, Cathy Wood, works at GroundTruth. That lets him take on more jobs without the appearance of a conflict of interest. Ryan never misses a trick.) Ryan almost single-handedly kicked off the Yukon’s second gold rush in 2009. Many people in his business think he’s on the verge of doing it again.
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Mountains Dawson City
The mountains outside Dawson City are filled with relics of the region’s prospecting past—mossy, skeletal cabins and overgrown scars where miners once trenched for gold. Some of this land is now protected as part of Tombstone Territorial Park. But where it is not, prospectors continue to walk, drive, and chopper in to seek their fortunes.
DANNY WILCOX FRAZIER
There are good prospectors out there, and then there is Shawn Ryan. Successful gold-finding has always been a combination of patience, instinct, persistence, resourcefulness, and a tolerance for risk. In Ryan, each of these always seems to be calibrated in perfect proportion. And he has introduced another element to the equation: technology. He uses drones and data sets and high-tech cartographic innovations and two Astar D2 helicopters that he modified to use less fuel but develop more lift. The question for hundreds of miles in every direction is, how does Shawn Ryan do it? Is it the technology that sets him apart, or is his sense about where gold might be somehow more acute than everyone else’s?
How does anyone rise to the top of his field?
In one way, however, Ryan is no different from any other prospector in the Yukon: Everyone is limited to one five-mile lease a year. He wants 140 miles, so he went to the local soccer team he sponsors and paid the kids’ parents for their names.
It’s late in the day and one of the guys is running a creek, trying to land one more lease, when he notices something weird: The water is flowing the opposite direction from the other creeks in the area. Farther on, something else unusual: a pile of rusty prospecting tools under a big spruce tree, almost hidden by branches. They must be one hundred years old. He snaps a picture and keeps going.
A few weeks later, back in Dawson City, the crew sits around charging batteries and drying socks. Ryan pulls up, wild mushrooms rolling around the dash of his truck, looking very mad scientist—scruffy hair, stubble, eager grin. The crew smells of wood smoke. One of them pulls up a blurry picture on his phone—those rusty tools. Ryan reaches over fast and zooms in. Stares for a long moment.
“There’s this rumor,” he says, leaning in. “About two natives in the late forties, early fifties. They’d walk overland from Dawson some hundred miles to their camp at Coffee Creek. And there was this one spot they’d always deke off the trail and hand-bomb a bunch of gold.” Not just flakes, he says. Huge, fist-size nuggets. No one knew where this was, but there were clues. He drops his voice. “One clue was that the creek drained opposite to the way you thought it should.”
He pauses.
“The next was that they left all their tools under a big spruce tree.”
Prospecting
For the past seventeen years, Ryan has been running the largest geochemical sampling program on earth. When government maps proved not to have the accuracy he required for plotting findings, he started making his own. Now he can call up detailed information about his claims from just about anywhere in the world—including his home, above.
DANNY WILCOX FRAZIER
On the porch of the old mobile home GroundTruth uses as an office, a dusty baby sits eating a popsicle beside a three-legged dog. It’s summer 2017 in Dawson City, the season is ramping up again, and it is breaking-records hot. Ryan’s leaning over the railing in pale, stretched-out jeans, talking to a mining consultant in khaki shorts and a golf shirt. The guy’s up from Vancouver representing a company that just swallowed twenty thousand of Ryan’s claims. Ryan will tell you there’s probably five million ounces of gold buried under those 964,000 acres—$6.8 billion dollars’ worth. Which is what prospectors do. They claim land, promise it’s full of gold, then sell it, leaving the buyer to do the mining. Except in this case, after selling the rights to those claims, Ryan got the mining company to give GroundTruth a three-year, multimillion-dollar exploration contract to find the gold.
Inside—past the sticky baby and faux-wood paneling—sits the “war room,” a radiating sauna of stacked 100-terabyte servers, Lenovo computers souped up with high-end video cards and big monitors, and buzzing Samsung smartphones. Here, surviving on pizza and coffee, geologists hunt gold virtually. Data streams in from Ryan’s “commandos”—men and women in reflective vests who jump out of choppers outfitted with stealth drones, satellite internet, and remote-control drills—in the backcountry. They collect data on complicated electrical measures like resistivity and chargeability, and X-ray fluorescence, and generate topographic models. Data the geologists interpret to tell GroundTruth precisely where to dig. Ryan walks into the war room and stops dead in front of a screen displaying what looks like an ultrasound of a boa constrictor. “Holy cow.” He lifts up his green ball cap with the helicopter on it, scratches a heap of silver hair. “Wow, eh. Holy cow.” Out at one of his bush camps, maybe a hundred miles from GroundTruth’s trailer, a crew has dropped a $40,000 camera on a data cable down a three-hundred-foot drill hole—a system Ryan adapted from the oil-and-gas industry (and tested first by taping a flashlight to a GoPro). In the trailer, Ryan can see into the earth in real time, and he watches the feed wide-eyed and astonished. “You can’t invent that one. Holy cow.”
Maybe somewhere on the planet, someone’s already thought of throwing a rig like this down a drill hole. But Ryan’s actually done it.
Prospecting
Out at the Golden Saddle, one of the first claims where Ryan hit pay dirt, drill operator Jason Marwick takes samples with a remote-controlled hammer drill. The drill, powered by a Honda gas engine and riding on repurposed ATV tracks, was the first product of Ryan and Tao Henderson’s DIY approach to prospecting equipment
DANNY WILCOX FRAZIER
When Ryan first got to Dawson, a gold-rush town of faded, listing facades, he went after wild morel mushrooms, a lucrative crop if you can find them. He researched the places where wildfires burned hottest, soil temperatures, frost frequencies, rainfall, satellite imagery, old forestry reports, and his own harvests until he had enough data that he could fly a drone over a burn and know exactly where the mother lode would be. He’d chopper in and pick a week’s worth of mushrooms in hours. When Ryan turned his attention to gold, he realized that a prospector is really just a glorified bushman: someone who knows the land so well he thinks he can see right through it.
“WE PUT ONE ON MARS. WHY CAN’T WE PUT ONE DOWN A FIFTY-FOOT SHAFT?”
Ryan fills the trailer with the wonder and excitement of a boy digging for buried treasure. With his down-hole camera technology, he is documenting things almost no one ever gets to see, like water rushing through underground aquifers. And as he scrolls down that tube, he hesitates at a fragmented image on one of the screens. On another monitor he scans columns of assay results that tell him what metals and minerals are in the dirt. Certain minerals suggest the presence of gold nearby. The right mix could mean—“There’s the arsenic, huh. Where is the gold, baby?”
In 2016, just before he sent that staking crew into the bush, Ryan discovered something. For years, he’d been hunting hard-rock gold, the kind packed tightly in veins and faults underground. But gold also occurs as placer: raw gold that has eroded from the veins and drifted into the dirt. The kind of gold you might find in a creek bed, under a big spruce. Ryan started reading Canada’s mining laws—something anyone can do but no one actually does—and discovered he could stake the hard-rock claims he’d sold again. For placer.
Ryan scopes farther down that digital drill hole, full of shadows and pockets of golden light. He keeps glancing at assay results. Then he lets out a whoop. “There it is! There it is, Houston. Oh wow.” Ryan is the only one still surprised when he finds gold. “We’re not supposed to be surprised,” he says. “We’re supposed to be professionals, right?”
Plastic bag, Bin bag, Leaf, Tree, Plant, Waste, Flower, Bag,
Bags of pulverized rock and dirt pulled out of the ground by GroundTruth sampling teams. The samples are sent to a lab to be assayed, in hopes of finding telltale metals and minerals, like arsenic, antimony, molybdenum, and tellurium, that are known to keep company with gold. The information on the bags ties them to Ryan’s database of geochemical samples.
DANNY WILCOX FRAZIER
One of Ryan’s crew, Dillon Langelaan, is up on a ridge a couple hours south of Dawson, shacked up in a wall tent with a satellite dish, surrounded by an electric bear fence. Midsummer is GroundTruth’s high season, and Langelaan is one of 170 guys Ryan’s got out in the bush. An East Coast farm kid fresh out of rock school, Langelaan’s on a three-man exploration crew, the kind feeding the screens back in the war room. But he’s been given a robotic gold-finding contraption that wasn’t in any of his textbooks, a machine created by a man everyone here calls the Doctor.
The Doctor is Tao Henderson. He wears black latex surgeon’s gloves, black everything else, and is known to blast AC/DC from his operating theater—an insulated metal Quonsethut with a moose rack over the door adjacent to GroundTruth’s mobile-home headquarters. When things break, Henderson fixes them. He also shrinks stuff—makes big industrial drills tiny and mobile. He and Ryan ferret out parts the way small-town boys build dune buggies, using whatever is lying around—an old bed frame, a bench seat, a small-block engine. In a neighbor’s backyard they pulled the tracks off a 1970s Cushman Trackster ATV and threw them on a hammer drill. The zero-turn tracks have a 45-degree tilt front and back for tough terrain and are powered independently, so that the machine can navigate any landscape it encounters in the bush. It is part squat tank, part giant robotic mosquito. Ryan has driven two hours of bumpy back road to see this invention do what traditional exploration crews do by gashing trenches with backhoes. They watch as the machine trundles through the buckbrush. The operator tugs the stubby toggles on a heavy rubber remote and the hammer drill pivots and spins, teetering precariously before rolling clumsily down the bank. He nudges a lever and the drill head slowly rises, folding forward like a person in prayer.
The jangling whine of the engine turns into a steady jackhammer thwack as the drill pounds steel casings down two meters, then retrieves them, now full of soil samples. The drill rolls over the moss without a trace, leaving behind a tiny dribble of golf-ball-size holes.
GroundTruth
Staff in the GroundTruth trailer coordinate operations—streaming data, juggling helicopter flights and rescue operations, and monitoring forest fires. Even as GroundTruth expands to work claims in Nunavut and Newfoundland and Labrador and finds itself in demand on other continents, everything runs from this trailer.
DANNY WILCOX FRAZIER
Digging a little deeper than everybody else, a little more often, Ryan has been stockpiling dirt since 2001, collecting more than three hundred thousand samples—the largest geochemical sampling program on the planet. He used to plot his data on the government topographical maps everybody uses, until he figured out that they were inaccurate. Maybe other people had noticed this, but Ryan actually decided to make his own, with SenseFly eBee drones he started testing in 2012, long before most people had even heard of drones. These tiny stealth boomerangs wing grids autonomously, shooting pictures that are stitched together into high-resolution 3D topographic models forty times more detailed than Google Earth.
As the dirt-packed casings are pulled from the ground and threaded off the hammer drill, Langelaan bashes out the samples with a sledgehammer, catching the trickle of rocky loam in a plastic gold pan. “You’re not only looking at rocks,” says Ryan, crouching down next to Langelaan, rubbing the dirt between his fingers. “As a geo, a young guy learning, you should be trying to figure out the game.” It’s like Sasquatch hunting, Ryan likes to say, this unrelenting search for the mother lode: “I believe the beast exists, even though no one’s ever seen it.”
Langelaan just stares at Ryan. Like he can’t quite believe this legendary prospector, a guy he learned about in school, is standing out here on the side of this scrubby mountain talking to him. Langelaan has a backlog of questions: How deep should they drill to hit “the zone”? Does bagging wet dirt change the assay results? Should he dry it?
You can tell Ryan recognizes something of himself in this curious, kind of innocent kid. Ryan wants Langelaan to feel the same dazzling rush he does when he works through these puzzles. Langelaan drops the sledgehammer and shows Ryan the mustard-colored loam that keeps turning up. Ryan promises him a new X-ray gun to determine mineral content.
“I BELIEVE THE BEAST EXISTS, EVEN THOUGH NO ONE’S EVER SEEN IT.”
The right tool is always out there. Once, at what he calls a “geek conference” in Colorado, Ryan found a technology designed to spot sinkholes and assess fuel spills with probes that zap the dirt and chart electrical resistivity. He figured if it could find that stuff underground, it should find gold veins too. So he got it, and instead of spacing the probes every fifty meters, like the instructions said, Ryan put his every five meters for a sharper picture, and packed the probes in cat litter—the only bentonite source he could find in Dawson—to boost contact. That’s what Ryan’s telling this kid, Langelaan. There’s always a better way if you give yourself the time and space to think creatively. The job isn’t really the geology. The job—all jobs, really—is gathering the knowledge, the science, then learning to let instinct navigate you surely through it. “You’re actually hunting,” Ryan tells him, and he hopes he sees the special joy in hunting for gold (or Sasquatch): If you’re chasing something mythical, seemingly impossible to find, the hunt never really ends.
GroundTruth
GroundTruth geologist Greg Dawson uses a loupe to examine a rock sample. Dawson says his work at GroundTruth is “striving toward failure”: The faster, cheaper, and more efficiently he can prove there’s nothing under a given sample, the quicker the company can get to the pay dirt—and the higher the return when it strikes gold.
DANNY WILCOX FRAZIER
Fall in the Yukon means daylight is growing precious, the poplars are turning yellow, and Richard Daigle is boarding a GroundTruth helicopter to the placer leases Ryan’s crew staked one year earlier. He’s leading a team that’s going to spend a couple weeks taking drill samples, the first step to assessing the viability of the claims. The season is winding down and it’s late to head out, but Ryan’s insistent: There’s one creek that has to be drilled before the snow flies. The creek that moves in the wrong direction, where the crew found the rusty tools leaning against the old spruce tree.
Gold seems to offer itself up to Ryan. “It actually becomes pretty much anticlimactic when you find it,” he says. “Ding ding ding! It’s exciting on the first or second hole and then the euphoria’s over because, shit, it’s really there. Okay. Then you kind of stand back and go, ‘Shit. Okay, I guess I’m done. Ha ha ha.’ Then you’re like, ‘Oh my God. Okay. Now what?’ ” That’s why back at GroundTruth HQ, Ryan’s got the Doctor trying to figure out how to make a drill that can bore a shaft big enough to drop a robot—a placer mining bot that doesn’t exist yet. That’s the next step if Daigle’s drill samples come back looking good. Ryan reckons GroundTruth can build burrowing placer bots by hacking mini track machines he found online with existing remote-control technology. “It’d be easy,” he says. “We put one on Mars. Why can’t we put one down a fifty-foot shaft?” Daigle has a face like an oilskin raincoat, patinated from life on the land moonlighting for mining companies—chasing other people’s dreams. He gazes out of the chopper as it thumps over ridge after ridge before eventually perching itself above the valley formed by the creek that runs in reverse. A couple guys duck out and skid down the hill toward a miniature rotary-air-blast (RAB) drill on tracks—another of the Doctor’s remote-control contraptions, which was choppered out ahead of time. Before long the men are slinging steel drill casings and buckets of pulverized dirt. Over the next several days, their progress is marked by the phantasmic puffs of white powder that rise from the valley’s black spruce, dust kicked up as the RAB jackhammers into the ground and busts up everything in its path.
By the time the crew finally rolls under that big spruce and sets up one last target, there’s snow on the ground. The RAB starts pounding and Daigle, jacket open despite the cold, moves fast, washing samples pulled up by the drills, watching for that telltale flash of glittering light.
Gold.
Of course they find it. Ryan isn’t there—he’s not in the field nearly as much as he used to be. But he knew they would. He’d done the work to know the dirt, and he knew in his gut he could trust the legend.
The find is good enough, he’ll say later, to consider a full-fledged placer-mining operation.
“Surprisingly so,” he adds, a little tease. Even though he doesn’t know yet, he knows.
This appears in the June 2018 issue. Want more Popular Mechanics? Get Instant Access!
Here is an e-mail I received today from folks living in the immediate area Sassy Resources is going to be drilling in Newfoundland.
Dear Friends:
Living in Gander, Betty and I have a unique perspective on what's unfolding in the Newfoundland Gold Rush.
COVID-19 isn't spreading, but GOLD FEVER certainly is!
This area is buzzing like never before, and not far from our home NEW FOUND GOLD (TSXV: NFG) has 9 drill rigs in operation as the company builds out its amazing high-grade gold discovery at the Keats Zone.
Thirty companies are active in the region!
"The Rock" may never be the same!
The exploration activity is unlike anything we've ever seen in this area, thanks to NFG's discovery and the success of some other companies like Marathon Gold, Labrador Gold and Sokoman Minerals.
What geologists are learning is that Newfoundland's gold potential is far greater than anyone ever imagined, similar perhaps to some other great gold camps in Canada and elsewhere in the world.
Just 15 or so km from our home is another company you need to watch closely - SASSY RESOURCES' (CSE: SASY) Gander North Project is massive, 480 sq. km, and that's part of a 1,381 sq. km land position SASY has assembled in the area mostly through its partnership with famous prospector Shawn Ryan who also put together Labrador Gold's package.
SASY already has drill permits for parts of Gander North and will be extremely active in the area over the coming months. With a current market cap of only $24 million and just 40 million shares outstanding (closed at 60 cents Friday), it offers the best value in our view of any of the emerging discovery plays.
They are also the ONLY company in the world with a major foothold in Canada's two hottest exploration districts - Newfoundland and the Eskay Camp in Northwest B.C., and this morning SASY announced the start of a major VTEM survey at Foremore where they have made a grassroots high-grade gold discovery at the Westmore target.
SASY CEO Mark Scott hails from New Brunswick where he followed in his dad's footsteps in the mining sector. He went from working underground to becoming VALE CANADA'S VP-Operations for its Manitoba Nickel Division, managing 1,800 people and a very large budget.
If anyone can find the next big gold deposit in Newfoundland, it's Mark Scott and the team from SASY - they've also made a quick early-stage discovery in the Eskay Camp.
Every investor on "The Rock" is soon going to start hearing about SASSY RESOURCES!
Regards,
Art & Betty Ford
GANDER, NEWFOUNDLAND, A1V-1T1
(709) 256 8965 /CELL (709) 422-1894
arthritis73@nlrogers.com (email)
blford@nl.rogers.com
I hear Sassy will be generating more news this coming week. Get on board at https://sassyresources.ca The chart looks great. Pennies to dollars...
I'm back in on the pullback. News, please.
SASSY OUTLINES MUCH LARGER
INTRUSIVE AT WESTMORE
VANCOUVER, British Columbia, March 17, 2021 - Sassy Resources Corporation (“Sassy” or the “Company”) (CSE: SASY) (FSE: 4E7) (OTCQB: SSYRF) is pleased to report that reprocessing of historic airborne magnetic data aligns with the interpreted margins related to the Westmore intrusive. The magnetic signature suggests the Westmore intrusive is possibly a much larger intrusive than previously believed at this discovery area in the southwest portion of the Company’s 100%-owned Foremore Project in the Eskay Camp.
The “edge detection product” generated by Sassy’s geophysical team suggests the total area of the Westmore intrusive, comprising an eastern and a western lobe, is approximately 750 meters x 750 meters. The depth extent remains unknown but is confirmed to be open below 200 meters vertical based on the first-ever drill holes (6) completed at this grassroots target in 2020. A high resolution, deep penetrating VTEM survey will be carried out over the entire Foremore Property this spring and is expected to provide important new information with respect to the Westmore intrusive that will help Sassy geologists plan the next phase of drilling. 2021 drilling at Westmore will be designed to accelerate the discovery process after a series of east-west trending gold-bearing quartz vein swarms and stockworks were intercepted in drilling last fall.
Additional Highlights:
The area mapped and sampled by Sassy in 2020 covers approximately 500 meters north-south and 300 to 400 meters east-west, suggesting that approximately 70% of the Westmore intrusive remains to be mapped and sampled in detail;
The outside boundary of the Westmore intrusive conforms to a sharp Mag high-Mag low gradient. The internal gradient configuration within the intrusive is possibly indicative of phases or structure within the intrusive;
Discovery potential remains open in all directions and there is ample, immediate opportunity to extend the gold-silver mineralization identified in 2020 along strike to the east and locally outside of the intrusive and into the neighboring country rock;
Exploration strategy in 2021 will be to identify controlling features within the quartz vein swarms that influence location of high-grade gold and silver mineralization and to understand what may be controlling the magnetic gradient within and on the periphery of the intrusive.
Mr. Ian Fraser, VP-Exploration for Sassy, commented: “Our understanding of the Westmore intrusive continues to grow. The upcoming property-wide VTEM survey, and ongoing age-dating analysis, will provide us invaluable fresh new data entering the 2021 drilling season with the goal to build significantly on this early-stage discovery. We anticipate releasing more results from last fall’s program prior to month end.”
To subscribe to Sassy news updates, visit www.sassyresources.ca.
Figure 1: Westmore Intrusive Magnetic Gradient
Figure 2: Westmore Intrusive 2020 Surface Gold Results
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Ian Fraser, P. Geo., Vice President of Exploration for Sassy Resources. Mr. Fraser is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Sassy Resources Corporation
Sassy Resources is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal and base metal projects in North America. Its current focus is the Foremore Gold-Silver Project located in the Eskay Camp, Liard Mining Division, in the heart of Northwest B.C.’s prolific Golden Triangle.
Caution Regarding Forward Looking Statements
Investors are cautioned that, except for statements of historical fact, certain information contained in this document includes “forward looking information”, with respect to a performance expectation for Sassy Resources Corporation. Such forward looking statements are based on current expectations, estimates and projections formulated using assumptions believed to be reasonable and involving a number of risks and uncertainties which could cause actual results to differ materially from those anticipated. Such factors include, without limitation, fluctuations in foreign exchange markets, the price of commodities in both the cash market and futures market, changes in legislation, taxation, controls and regulation of national and local governments and political and economic developments in Canada and other countries where Sassy carries out or may carry out business in the future, the availability of future business opportunities and the ability to successfully integrate acquisitions or operational difficulties related to technical activities of mining and reclamation, the speculative nature of exploration and development of mineral deposits, including risks obtaining necessary licenses and permits, reducing the quantity or grade of reserves, adverse changes in credit ratings, and the challenge of title. The Company does not undertake an obligation to update publicly or revise forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Some of the results reported are historical and may not have been verified by the Company.
Contact info:
Mark Scott
Chief Executive Officer & Director
info@sassyresources.ca
Terry Bramhall
Sassy Resources
Corporate Communications/IR
1.604.833.6999 (mobile)
1.604.675-9985 (landline)
terry.bramhall@sassyresources.ca
In Europe:
Michael Adams
Managing Director - Star Finance GmbH
info@star-finance.eu
I'm new here. Paying attention.
Pistol Bay Options Out Garnet Lake and Fredart Claims in Red Lake, Ontario
Vancouver, B.C. – February 04, 2020: Pistol Bay Mining Inc. (TSX-V - PST; Frankfurt - OQS2, OTC/Pink Sheet symbol SLTFF)
(“Pistol Bay” or the “Company”) reports that it has option out 80% of its Garnet Lake / Arrow Zone and Fredart/Copperload A claims in the Red Lake Mining District to Infinite Lithium Corp. (ILI-TSX:V) (OTCQB:ARXRF)
The Garnet Lake / Arrow Zone is part of Pistol Bay Confederation Lake land package that was acquired from Aurcrest. This land package is 2733 hectares (6752 acres) and includes a substantial mineral deposit and a number of mineralized drill intersections that are in need of follow-up drill testing. Mineralization on the property is all of Volcanogenic Massive Sulphide (VMS) type, dominated by zinc, copper and silver, with occasional associated gold values. (see NR October 19, 2016)
The Copperlode “A” or Fredart Zone deposit is 2620 hectares (6472 acres) and has a historical mineral resource of 425,000 tonnes grading 1.56% copper and 33.6 g/t silver. This historical resource estimate does not comply with the standards of National Instrument 43-101 and has not been reviewed by a Qualified Person. The zone was drill-tested to a depth of approximately 200 metres over a length of 350 metres, and was reported as being open at depth. The area was also explored for molybdenum in the 1970s, and samples containing up to 1.46% Mo were reported. (see NR October 19, 2016)
A 2100 line km VTEM PlusTM airborne survey was completed in 2017 – detected parallel conductors or extensions of known conductors in lengths of 400, 850, 900 and 950 metres at Fredart Corridor which is within a total strike length of 22km.
A diamond drilling program was carried out by AurCrest in 2010, in an attempt to expand the resource base by drilling down a possible easterly plunge in the area of an IP anomaly. A fence of five holes was drilled, without intersecting any significant mineralization. A borehole EM survey carried out on those drill holes in 2010 identified a strong off-hole conductor in two adjacent holes, with an interpreted conductive zone lying between the two holes. It is anticipated that this anomaly may represent the down-plunge extension of the Copperlode “A” zone, or possibly a new zone.
Garnet Lake /Arrow Zone has a NI43-101 resource of
3% Zn equivalent cutoff:
Indicated Resource 2,071,000 tonnes @ 5.92% Zn, 0.75% Cu, 21.1 g/t Ag and 0.58 g/t Au
Inferred Resource 120,550 tonnes @ 2.60% Zn, 0.56% Cu, 18.6 g/t Ag and 0.40 g/t Au
5% Zn equivalent cutoff:
Indicated Resource 1,762,000 tonnes @ 6.75% Zn, 0.79% Cu, 22.3 g/t Ag and 0.61 g/t Au
Inferred Resource 51,630 tonnes @ 3.86% Zn, 0.79% Cu, 23.9 g/t Ag and 0.58 g/t Au
10% Zn equivalent cutoff:
Indicated Resource 633,000 tonnes @ 14.3 Zn, 1.11% Cu, 31.7 g/t Ag and 0.85 g/t Au
Terms of this agreement
GARNET LAKE / ARROW ZONE
Upon Exchange Approval, Pistol Bay will receive the following payments and exploration expenditures commitments from Infinite Lithium Corp.
Payments of $75,000 cash and 1,000,000 Infinite Lithium Corp common shares within 5 days of the Exchange Approval date
Additional payment of $75,000 cash within 6 months of the Exchange Approval date.
Additional payments of $150,000 cash, 1,000,000 Infinite Lithium Corp. common shares and exploration expenditures of $400,00 in or on the claims within 12 months of the Exchange Approval date
Additional payment of 2,000,000 Infinite Lithium Corp. common shares and exploration expenditures of $400,000 in or on the claims within 24 months of the Exchange Approval date
Additional $700,000 in exploration expenditures in or on the claims before the third anniversary of the Exchange Approval date
FREDART / COPPERLOAD A
Upon Exchange Approval, Pistol Bay will receive the following payments and exploration expenditures commitments from Infinite Lithium Corp.
Payments of $30,000 cash and 750,000 Infinite Lithium Corp common shares within 5 days of the Exchange Approval date
Additional payment of $50,000 cash within 6 months of the Exchange Approval date.
Additional payments of $70,000 cash, 750,000 Infinite Lithium Corp. common shares and exploration expenditures of $300,00 in or on the claims within 12 months of the Exchange Approval date
Additional payment of 1,000,000 Infinite Lithium Corp. common shares and exploration expenditures of $300,000 in or on the claims within 24 months of the Exchange Approval date
Additional $400,000 in exploration expenditures in or on the claims before the third anniversary of the Exchange Approval date
About Pistol Bay Mining Inc.
Pistol Bay Mining Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on zinc and base metal properties in North America. The company is also actively pursuing the right opportunity in other resources to enhance shareholders value. For additional information please visit the Company website at www.pistolbaymininginc.com or contact Charles Desjardins at pistolbaymining@gmail.com.
On Behalf of the Board of Directors
PISTOL BAY MINING INC.
Charles Desjardins,
President and Director
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.
Forward Looking Statements
Statements included in this announcement, including statements concerning of the Company’s plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
Pistol Bay Acquires Land Package in the Greenstone Belt
Pistol Bay Acquires Land Package in the Greenstone Belt
Pistol Bay Acquires Land Package in the Greenstone Belt in the James Bay Region, Quebec
VANCOUVER, British Columbia, Jan. 15, 2020 (GLOBE NEWSWIRE) -- Pistol Bay Mining Inc. (TSX-V - PST; Frankfurt - OQS2, OTC/Pink Sheet symbol SLTFF) (“Pistol Bay” or the “Company”) is pleased to announce that it has entered into an option agreement with an arm’s length vendor to acquired a land package in the James Bay Region of Quebec.
The land package comprises of 1690 hectares and is located 12.5 kilometers South West of the recent Azimut Exploration discovery. This property is on strike on the same greenstone belt as the recent Azimut Exploration Inc. discovery. The Elmer property of Azimut Exploration and is separated from Pistol Bay property by the Dios Exploration property in that region.
“Azimut's management considers these results to be among the most significant gold exploration results in the James Bay region since the 2004 discovery of the Eleonore deposit by Virginia Gold Mines. The Eleonore mine is currently owned and operated by Newmont.” (See AZM.V News release Jan 14, 2020)
Pistol Bay can earn a 100% interest in the Property by issuing 1,000,000 common shares and paying a total of $7,000 on the date of approval. A 2% NSR has been granted to the vendor. Pistol Bay has an option to buy back1% NSR from the vendor by paying $500,000 to the vendor.
This transaction is subject to TSX Venture Exchange approval. All shares issued will be subject to a hold period expiring four months plus one day from the date of approval.
About Pistol Bay Mining Inc.
Pistol Bay Mining Inc. (TSXV:PST) is a diversified Junior Canadian Mineral Exploration Company with a focus on gold and base metal properties in North America, notably the Red Lake district of Ontario. For additional information please visit the Company website at www.pistolbaymininginc.com or contact Charles Desjardins at pistolbaymining@gmail.com.
On Behalf of the Board of Directors
PISTOL BAY MINING INC.
Charles Desjardins,
President and Director
Investor Relations
Terry Bramhall
604-833-6999
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.
Forward Looking Statements:
Statements included in this announcement, including statements concerning of the Company’s plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
Pistol Bay acquires additional gold exploration claims in Red Lake
Vancouver, B.C. – September 17, 2019: Pistol Bay Mining Inc. (TSX-V - PST; Frankfurt - OQS2, OTC/Pink Sheet symbol SLTFF) (“Pistol Bay” or the “Company’) wishes to announce it has entered into an option agreement with 1544230 Ontario Inc. subject to TSX Venture Exchange approval, to acquire a 100% right, title and interest in and to 141 mining cells located in the Pakwash Lake Area in the Red Lake Mining District, Ontario. The 7130-acre properties are located east and south of Great Bear Resources recent discovery.
Charles Desjardins, President & CEO of Pistol Bay stated, “The company is excited about the additional prospects for gold in the vicinity of the recent Great Bear Resources discovery. We believe there is considerable potential for gold on our Confederation Lake side of the Red Lake Mining district as well as the known historic resources of silver, copper and zinc. Many of the historic drill holes in Confederation Lake were not assayed for gold.”
The property comprises two separate claim blocks. The first claim group is referred to as the Pakwash East block. It comprises 35 cells, with an area of approximately 716 hectares (1,760 acres). It is 12.5 kilometres southeast of the Great Bear Resources Dixie property. It adjoins a 9,650-hectare claim group registered to Great Bear Resources. It is traversed by provincial Highway 105, a 115 kV transmission lines and a natural gas pipeline. It is underlain by metasedimentary rocks and granitic intrusions, according to published geological maps. Although it formed part of the Laurentian Goldfields Inc. Goldpines project, the only exploration reported in the area of the Pakwash East block was an airborne magnetic and VLF-EM survey.
The second claim group is referred to as the Pakwash North block. It comprises of 106-cells, 2,174-hectare (5,370 acres). It lies 21 kilometres southeast of the Dixie Lake gold discovery now being explored by Great Bear Resources Ltd, and 44 kilometres southeast of the town of Red Lake. It is accessible by old forestry access roads leading from provincial highway 105, as well as by boat via Pakwash Lake and the Chukuni and English Rivers.
The Pakwash North Block lies in an area of metasedimentary rocks of the English River terrain, including a variety of granitoid intrusives, and straddles a major structural, the Sydney Lake Fault. Metasedimentary terrains in the vicinity of major structures, once considered to have low mineral potential, have been the site of recent gold discoveries such as Newmont-Goldcorp’s Éléonore mine in northern Québec, the Curraghinalt gold deposit in Northern Ireland, and the Valentine Lake gold deposit in Newfoundland.
The Pakwash North Block formerly comprised part of a large claim group known as the Goldpines property, that was explored by Laurentian Goldfields Inc. in 2010 and 2011. This was the only previous exploration in the area, and work in this part of the Goldpines property was confined to geological mapping, lake-sediment geochemical surveying and MMI soil sampling and analysis. The mapping confirmed the existence of the Sydney Lake Fault. There are a small number of MMI soil samples with anomalous gold adjacent to the Sydney lake Fault in the eastern part of the property.
The accompanying map shows the Pakwash North and Pakwash East claim blocks, Great Bear Resources Dixie and Pakwash properties, as well as the Pakwash South property (see news release 29 July, 2019). The Dixie 17-18-19-20 and Dixie 3 (Snake Falls) claim blocks, part of Pistol Bay’s Confederation Lake project, are also indicated on the map.
Under the terms of the option agreement, in order to acquire a 100% right, title and interest in and to the property, Pistol Bay is required to make total cash payments of $45,000 and issue a total of 500,000 shares over a three-year period. 1544230 Ontario Inc. will retain a 1.5% net smelter returns royalty.
Pistol Bay Mining Inc. shall have the right at any time to purchase one-half (1/2) of the NSR Royalty, being three-quarters of one percent (0.75%), from 1544230 Ontario Inc. in consideration of the payment to 1544230 Ontario Inc. of $500,000, thereby leaving Pistol Bay with three-quarters of one percent (0.75%) NSR Royalty.
The technical information in this news release was prepared and/or reviewed by Colin Bowdidge., P.Geo., a Qualified Person as defined in National Instrument 43-101
About Pistol Bay Mining Inc.
Pistol Bay Mining Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on zinc and base metal properties in North America. The company is also actively pursuing the right opportunity in other resources to enhance shareholders value. For additional information please visit the Company website at www.pistolbaymininginc.com or contact Charles Desjardins at pistolbaymining@gmail.com.
On Behalf of the Board of Directors
PISTOL BAY MINING INC.
"Charles Desjardins"
Charles Desjardins,
President and Director
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.
Cautionary note:
This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
Pistol Bay Options Out Fredart-Gerry Lake Properties
Red Lake, Ontario
Vancouver, B.C. – September 04, 2019: Pistol Bay Mining Inc. (TSX-V - PST; Frankfurt - OQS2,
OTC/Pink Sheet symbol SLTFF) (“Pistol Bay” or the “Company”) is pleased to announce, subject to the
approval of the TSX Venture Exchange, it has entered into an option agreement whereby Belmont
Resources Inc will option from Pistol Bay its Fredart-Gerry Lake properties in Red Lake, Ontario.
Fredart/Gerry Lake Property Acquisition -Red Lake Mining Division
Pistol Bay is pleased to announce that they have entered into a mineral property acquisition agreement
(the “Agreement”) with Belmont Resources Inc. (TSX-V: BEA) on its Fredart-Gerry Lake and several
adjoining claim groups in the Confederation Lake greenstone belt, approximately 70km southeast of Red
Lake, Ontario. The Arrow Zone-Garnet Lake, an adjoining claim block also owned by Pistol Bay
contains an Inferred Mineral Resource (2017 NI 43-101) containing 2.1 million tonnes @ 5.78% Zn,
0.72% Cu, 195g/t Ag, and 0.60 g/t Au as filed on SEDAR – September 2017. The geological setting of
the Fredart and associated claims is similar to the Garnet Lake claims area.
The Fredart property had 124 drill holes between 1956 and 2003, totaling 22,500 metres. Additional
drilling on the western extension of the Fredart trend and the Joy-Caravelle area has not been compiled
yet. The Copperlode “A” or Fredart Zone deposit has a historical mineral resource of 425,000 tonnes
grading 1.56% copper. This historical resource estimate does not comply with the standards of NI 43-101
and has not been reviewed by a Qualified Person. The zone was drill-tested to a depth of approximately
200 metres over a length of 350 metres, and was reported as being open at depth. Only portions of the drill
holes were assayed for gold, due to the low price of gold at the time. The area was also explored for
molybdenum in the 1970s, and samples containing up to 1.46% Mo were reported.
Access to the area is by all-weather roads, and a first class gravel road for 40km from the town of Ear
Falls, along the length of the property. Local resources include the availability of skilled labour; a 115kV
transmission line from Ear Falls hydro-electric generating station to Pickle Lake and Musselwhite crosses
the property; natural gas at Ear Falls; and water is readily available throughout the area.
The Fredart property and additional claim units comprises 406 mining claims with an area of approx.
6,700 hectares (16,500 acres). It covers a 17 km length of the Confederation Lake greenstone belt. It
includes two substantial mineral deposits and a number of mineralized drill intersections that are ready for
follow-up drill testing. Mineralization on the property is of volcanogenic massive sulphide (VMS) type,
dominated by zinc, copper and silver, with occasional associated gold values and areas drilled but untested
for gold. The mafic-dominated part of the belt hosts an iron formation, which defines the Fredart-Gerry
Lake “favourable horizon.” Iron formations are very often associated with gold mineralization.
The property is 25 km northeast of the Dixie property – owned by Great Bear Resources Ltd. (TSX.V:
GBR) that has been reporting high-grade gold intersections and their pace of discoveries has accelerated.
Numerous other junior venture companies have been exploring the area, which is becoming one of the
most active mining camps in Ontario.
In 2017 a VTEM Plus survey was completed which covers most of the greenstone belt. Airborne
magnetics and electromagnetic anomalies are superimposed on the Ontario government surveys. Mag
from the VTEM survey suggests the presence of granitic intrusions below surface in the northeast part of
the Fredart area. The VTEM survey revealed two, or even three parallel conductive responses over large
parts of the Fredart-Gerry Lake trend.
Also included in the claim block is the Joy-Caravelle area. This western end of the property area contains
multiple zones of Zn-Cu VMS deposits in a felsic-dominated part of the belt. Drill hole assays reported
were as high as 21.6% Zn, 0.13% Cu over 0.25m; 17.17% Zn, 0.28% Cu over 0.60m; 4.01% Cu over
3.55m; to name a few. Most of the drill holes were not assayed for gold. The Joy North claim has an
undrilled 1100 metre long conductor, which is at a different stratigraphic horizon from the Fredart-Gerry
Lake trend, and is unexplored.
Terms of the Option:
The Options terms over a three-year period are as follows:
For a 65% Interest:
• $40,000 cash and 1.5 million shares upon Exchange approval;
• $50,000 cash and 1.5 million shares -1st year Anniversary of Exchange approval;
• $50,000 cash and 1.0 million shares – 2nd year Anniversary of Exchange approval.
Belmont can earn an additional 10% interest (total 75%) upon completion of 2nd anniversary obligations
by payment of $200,000 in cash. Belmont and Pistol Bay would then enter into a joint venture agreement.
A royalty of 2% Net Smelter Returns (“NSR”) is payable to Glencore plc on all the claims except the
Fredart Claims, where a 2% NSR royalty is payable to Perry English, with a $10,000 annual advance
royalty payment to Mr. English.
Colin R. Bowdidge, Ph.D., P.Geo, and a Qualified Person as defined by National Instrument 43-101 has
reviewed and approved the above technical information in this news release.
About Pistol Bay Mining Inc.
Pistol Bay Mining Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on
zinc and base metal properties in North America. The company is also actively pursuing the right
opportunity in other resources to enhance shareholders value. For additional information please visit the
Company website at www.pistolbaymininginc.com or contact Charles Desjardins at
pistolbaymining@gmail.com.
On Behalf of the Board of Directors
PISTOL BAY MINING INC.
Charles Desjardins,
President and Director
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.
Forward Looking Statements:
Statements included in this announcement, including statements concerning of the Company’s plans, intentions and
expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”.
Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”,
“expects” and similar expressions. The Company cautions readers that forward-looking statements, including without
limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and
uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
https://bit.ly/31MZqLb
Confederation Lake ExplorerCo Pistol Bay (PST.V) in the hunt for high-grade vanadium
Greg NolanJune 19, 2019
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Companies operating in the junior exploration arena, particularly those in the base metals space, have seen their market caps blown all to hell in recent months.
The negative sentiment surrounding zinc has been especially pronounced. Some might characterize the carnage as a medival battlefield at dawn.
Image courtesy of WhatCulture.com
But these ravaged landscapes can be viewed from a different angle.
The Chinese, always deep in thought and spirit, have a sage and insightful way of looking at such butchery:
Image courtesy of talking business
While some are busy pulling out the last of their hair, blowing out the last of their base metals shares into a market with little to no appetite, others – contrarians at heart – view the negative sentiment as an opportunity to acquire shares in high-quality companies at extremely attractive valuations.
“Be bold and mighty forces will come to your aid.” Someone ‘Almost Famous’ once said that.
This could be an opportunity to buy dollars for dimes.
Pistol Bay (PST.V), according to the companies home page, is “a diversified junior Mining Canadian Exploration Company with a specific focus on zinc and other base metal properties in North America.”
While that may be true, a recent acquisition gives the company control of a highly prospective vanadium project in mining-friendly Nevada.
First things first.
The zinc and copper
Pistol Bay is the dominant land holder in the Confederation Lake VMS Greenstone Belt of Red Lake, Ontario.
This 20,700 hectare land package is host to three significant zinc-copper-silver-gold deposits.
Garnet Lake / Arrow Zone
2,071,000 tonnes @ 5.92% zinc, 0.75% copper, 21.1 g/t silver and 0.58 g/t gold in the indicated category
120,550 tonnes @ 2.60% zinc, 0.56% copper, 18.6 g/t silver and 0.40 g/t gold in the inferred category
Fredart, Copperlode project
425,000 tonnes grading 1.56% copper (historical resource (non 43-101 compliant))
Ben Lake, Joy, Joy North and Caravelle
100,000 tonnes grading 12.5% zinc and 0.5% copper (historical resource (non 43-101 compliant))
As noted above, Confederation Lake is a VMS type setting.
Image courtesy of the 911Metallurgist
Those who know their rocks understand that VMS settings can be prolific – where there’s one deposit, there are often others.
Back in September of 2017, Confederation Lake was subjected to a deep-penetrating geophysical survey. The results suggest there is more. Much more:
Conductive responses were confirmed at all historic showings, zones and mineralized drill intersections
There are conductive extensions of several known zones, beyond sections that have been drilled in the past
There are untested conductors on strike with known mineralized zones or occurrences
There are new clusters of conductors, away from any known mineralization, that are in areas of favorable geology, and constitute new target areas
Numerous IP effect anomalies have been identified, either as separate anomalies or as extensions of conductors
According to a Nov. 13, 2018 press release, Pistol Lake management is the process of negotiating joint ventures with multiple companies interested in certain Confederation Lake claims.
The press release also stated that the company is looking at drilling off certain projects on their own dime. I’m sure management is anxious to mobilize a drill rig to some of CL’s more compelling targets.
CONFEDERATION LAKE PROJECT PRESENTATION
The vanadium
Vanadium is that hard, silvery-grey, ductile, malleable metal used in everything from surgical instruments to a new generation of energy storage technologies.
Image courtesy of ResearchGate
Some experts believe vanadium flow batteries will revolutionize modern electric grids the same way lithium-ion batteries are revolutionizing a global shift towards electric vehicles.
As a consequence, the price of vanadium has been on a real rollercoaster ride over the past two years as the forces of supply and demand square off.
Chart courtesy of VanadiumPrice.com
On April 10, Pistol Bay announced a vanadium property acquisition in the mining friendly state of Nevada.
The market is looking for new opportunities in the vanadium space. Pistol Bay’s April 10 acquisition announcement generated a flurry of trading activity (note the April volume on the chart below).
Chart courtesy of BigCharts
The particulars of the Clark County deal
The acquisition involves 980 acres covering two properties known as the Vanadium Claims Group (VCG) project.
The VCG project is located in Clark County, Nevada, a historical mining district with 34 reported vanadium occurences.
Image courtesy of FriendsOfNevadaWilderness
This district was mapped by the United States Geological Survey (USGS) in the 1920s.
The USGS report stated that “Vanadates are uncommonly widespread in the district” and that significant concentrations of vanadium were shipped from the district in the form of mine concentrates and bulk shipments.
The report also noted a number of references to vanadium mineralization in the district:
Concentrates reported to contain 15% V205
2.3 meters grading 3.75% V205
A 3-meter wide zone estimated to run up to 10% V205
The USGS described the styles of mineralization within the district and recorded a significant number of vanadium occurrences containing vanadinite (19% V2O5), descloizite (22% V2O5), cuprodescloizite (17-22% V2O5), carnotite (20% V2O5), roscoelite (21-29% V2O5), and patronite (17-29% V2O5).
The report also noted that a number of outcrops within the project area contained vanadium mineralization and that “shipments of vanadium mineralization were made from one of the areas now covered by the VCG project.”
Charles Desjardins, president & CEO:
“We are excited to make this acquisition as it provides the Company exposure to the District Scale Potential of the area for high grade Vanadium mineralization, low cost exploration as well as potential for significant by-product credits ( lead, zinc, silver) from related mineralization in a district that not been systematically explored for vanadium.”
Geologically speaking:
The vanadium mineralization exposed within the VCG project belongs to the Exogenic type vanadium deposits characterized by typically higher grade (2-10% V2O5) mineralization; the vanadium minerals descloizite, cuprodescloizite and vanadinite and occur in oxidation zones of lead-zinc and copper mineralization.
I’m used to seeing vanadium values in the 0.10% to 0.50% range. This is some high-grade rock.
These claims surround the former producing Singer and Tiffin mines and are underlain by “Mississippian/Pennsylvanian age Monte Cristo Limestone, Birdsprings Limestone and outliers of Miocene age andesite/latite/rhyolite flows. Late north trending mica Lamprophyres dikes cross cut the limestone units.”
Singer mine pic courtesy of SilverStateGhostTowns
The Singer and Tiffin mines were former small scale lead-zinc producers that operated in the 1920’s.
The property covers the extension of the Sultan Thrust fault that dips to the south. The property is also host to several north-south trending west dipping faults.
The VGC project is divided into two claim groups:
Claim group #1 measures roughly 1.6 kilometers by 1.0 kilometers covering a number of reported vanadium showings exposed in outcrops and old mine workings.
Regarding this claim group, the USGS report states the following: “One mine (located within the claim group) however did ship 14 tons of material to the American Vanadium Company.”
Information on the vanadium content of the shipment is not available.
Claim group #2 has similar dimensions to claim group #1 with reported vanadium mineralization and a significant number of old workings.
No modern-day exploration has been completed on either of the two claim groups.
The USGS report is somewhat vague. It’s no wonder, it’s nearly a century old. Back in the 1920s the boys in the field were probably too busy fussing over their Tommy guns and fedoras.
But vague can be a good thing when it comes to these old geological reports. Vague implies that the area is vastly underexplored. It implies that the area could be ripe for important new high-grade discoveries.
Not to dismiss the VMS discovery potential of the company’s extensive land package at Confederation Lake, but I’m guessing VGC is now Pistol Bay’s flagship project.
Final thoughts
Don’t be surprised if the vanadium price kicks back into gear over the coming months. Demand is strong and supply is tight with China responsible for more than 50% of world output (that’s a problem in this era of tarrifs, trade wars and critical metal hording).
The company has a modest market cap of $2.01M based on its 50.33 million shares outstanding and $0.04 share price. Success on the exploration front could factor in large here.
END
~ ~ Dirk Diggler
Full disclosure: Pistol Bay is and Equity.Guru marketing client.
Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.
Pistol Bay Acquires Nevada Vanadium Project
– April 10, 2019:
Pistol Bay Mining Inc. (TSX-V - PST; Frankfurt - OQS2, OTC/Pink Sheet symbol SLTFF) (“Pistol Bay” or the “Company’)
Wishes to announce that it has acquired a Vanadium project totalling 980 acres in Clark County, Nevada
Pistol Bay Mining Inc has signed an agreement with arm's-length third parties to acquire, subject to TSX Venture Exchange approval, a 980 acre land package covering two properties known as the Vanadium Claims Group (VCG) project.
The VCG project is located in Clark County, Nevada; a historical mining district with 34 reported occurrences of vanadium mineralization. Vanadium is a strategic mineral critical to steel strengthening and utility scale battery technology.
The mining district was mapped by the USGS in the 1920’s. The USGS report makes the following comment “Vanadates are uncommonly widespread in the district” and that significant concentrations of vanadium were shipped from the district in the form of mine concentrates and bulk shipments. The USGS report also mentions a number of other references to vanadium mineralization in the district:
a) concentrates reported to contain 15% V2O5
b) 3.75% V205 over 2.3m,
c) 3m wide zone estimated to run up to 10% V2O5
The USGS described the styles of mineralization within the district and recorded a significant number of vanadium occurrences containing vanadinite, descloizite, cuprodescloizite, psittacinite and other unnamed vanadium minerals.
The USGS reported that a number of outcrops from within the two areas covered by the VCG project contained vanadium mineralization and that shipments of vanadium mineralization were made from one of the areas now covered by the VCG project.
Charles Desjardins, President & CEO of Pistol Bay stated that “We are excited to make this acquisition as it provides the Company exposure to the District Scale Potential of the area for high grade Vanadium mineralization, low cost exploration as well as potential for significant by-product credits ( lead, zinc, silver) from related mineralization in a district that not been systematically explored for vanadium”.
Vanadium Deposits and Target Grades
The most important vanadium bearing minerals are vanadinite (19% V2O5), descloizite (22% V2O5), cuprodescloizite (17-22% V2O5),
carnotite (20% V2O5), roscoelite (21-29% V2O5), and patronite (17-29% V2O5).
The vanadium mineralization exposed within the VCG project belongs to the Exogenic type vanadium deposits characterized by typically higher grade (2-10% V2O5) mineralization; the vanadium minerals descloizite, cuprodescloizite and vanadinite and occur in oxidation zones of lead-zinc and copper mineralization.
Details on the Vanadium Project
Claims Group #1:
Measures approximately 1.6 km by 1.0 km covering a number of reported vanadium showing exposed in outcrop and in old mine workings. The USGS report states: “One mine (located within the claim group) however did ship 14 tons of material to the American Vanadium Company.” Information on the vanadium content of the shipment is not available.
Claims Group #2:
Covers an area measuring approximately 1.6 km by 1.0 km with reported vanadium mineralization and a significant number of old workings. No exploration has been completed on the two groups.
Terms of Acquisition 1.
The Vendor hereby agrees to sell and that Pistol Bay Mining Inc. agrees to purchase the Claims free and clear of all liens, charges, and encumbrances for and in consideration of $15,000 USD plus the sum of $150,000 USD upon exchange approval, and 8,000,000 fully paid and non-assessable common shares of Pistol Bay Mining Inc. (the “Purchase Price”).
2. The Purchase Price is due and payable as follows:
(a) A cash consideration of $15,000 USD paid on the date of execution of this Agreement. (b) $50,000 USD upon exchange approval.
(c) $100,000 USD six months post exchange approval. (d) 8,000,000 fully paid and non- assessable shares of Pistol Bay Mining Inc.on the five days following the date this agreement is accepted for filing by the TSX Venture Exchange (the date of acceptance being the “Effective Date”); and
(e) A 2% Net Milling Returns Royalty on the Properties (the “Royalty”); including the right of Pistol Bay Mining Inc. to purchase one and one half (1.5%) of the Royalty at any time for USD $1,000,000.
The technical information in this news release was prepared and/or reviewed by Glen Macdonald, Ph.D., P.Geo., a Qualified Person as defined in National Instrument 43-101.
About Pistol Bay Mining Inc.
Pistol Bay Mining Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on zinc and base metal properties in North America. The company is also actively pursuing the right opportunity in other resources to enhance shareholders value.
For additional information please visit the Company website at www.pistolbaymininginc.com or contact Charles Desjardins at pistolbaymining@gmail.com.
On Behalf of the Board of Directors PISTOL BAY MINING INC. "Charles Desjardins" Charles Desjardins, President and Director
Pistol Bay comes to life..
Judging by today's SLTFF-OTC-TSX-PST trading volume and share appreciation, I sense traders anticipate new developments are coming shortly. While it is rare for things to happen overnight, increased trading volume after a quiet time often precedes news or shareholder updates. Considering the tepid period shareholders have been through, this may well be the case.
Looking forward to coming news.
Finding today's link https://bit.ly/2Um93Ax is reinforcement profiling EPY's Big Shot, as well as, or better developed than Pokemon Go.
Pokemon Go is still making 2 million $$$ a day having grossed over 2 billion $$$ since it's launch.
I don't want to imply that investing in E-Play Digital is like buying Microsoft well under a $1.00 in 1990, or Apple @.$1.25 in 1990.
OTC/NWKFF-CSE-EPY trading @ .10 cents is the best bet based on their bases covered in this gaming growth industry IMHO.
ePlay To Offer Twitch and Mobcrush Live Streaming from Big Shot Basketball
LOS ANGELES and CALGARY, Alberta, March 28, 2019 (GLOBE NEWSWIRE) -- ePlay Digital Inc. (CSE:EPY-OTC-PK-NWFKK) today announced a new technology integration with Twitch and Mobcrush for its upcoming release of Big Shot Basketball. The new 3D augmented reality (“AR”) solution offers live streaming of video and audio from the front and rear-facing cameras on smartphones in order for Big Shot gamers to show and tell their friends, fans, and followers about their game experience. Gamers stream their journey with optional picture-in-picture (PIP) mode to find NBA players in the real-world while explaining their strategy and Big Shot Roster picks for various daily challenges as players compete to win mini-games and NBA points challenges.
ePlay will use its new live streaming and PIP technology platform and partnerships to turn players into viewers. Esports grows in popularity and revenues as gamers become streamers. Advertisers in Big Shot know that when 100,000 people play the game, 100,000 people will see their ads and product placement. With this new feature, when 100,000 gamers stream their Big Shot experience to 10 of their friends each a resulting 1M people will be exposed to the game and advertisers’ messages. This amplification is an important marketing and revenue source.
“Our intention is to make it super easy for users to find, play, and stream Big Shot - we are turning players into streamers,” says Trevor Doerksen, CEO of ePlay Digital. “Every time a Big Shot player streams, whether it’s to 10 friends or 25 million fans and followers, Big Shot, NBA teams and players, ePlay, and brands messages are amplified creating brand new Esports revenues.”
ePlay will continue to unveil its Esports technology, partnerships, and events as the company marches towards the official launch of Big Shot Basketball.
ePlay recently announced a 3D AR advertising partnership to bring brands and physical / online retailers together with mobile gaming audiences through immersive content and gamification. This added Esports component, and others still to be announced, amplifies the impact of the game. Retailers and brands can implement ePlay’s AR AdKit with existing or new media to drive footfall traffic to retail locations, activate and measure out-of-home advertising inventory, and create interactive and immersive advertising. The advertising can be placed exclusively through ePlay and its AR AdKit partners to reach more than 10.2 billion impressions per month across thousands of mobile, desktop, and console games and apps including ePlay’s flagship game, Big Shot™ Basketball.
With this announcement, Big Shot gamers will be able to stream live to reach a potential 15 million daily active users on Twitch. The largest revenue source in Esports is advertising and sponsorship which is measured on impressions and engagement. Live streaming from Big Shot to large audiences drives new revenue models for ePlay.
eMarketer forecasted last year that digital ads will account for 50% of total eCommerce ad spending by 2020, at more than $357 billion. ePlay, through its technology platform and partnerships, is well-positioned to grow alongside the fastest growing digital platform in the world - mobile games. ePlay’s AR ADKit ads enable a consumer to match the experience of playing a video game with gamified and immersive advertising.
Brands can now request sample AR ads and demographic targeting by contacting ePlay Digital at info@eplaydigital.com or by phone in:
Los Angeles - (310) 684-3857 ext 27;
Toronto - (647) 435-3591 ext 27;
Calgary - (403) 775-9475 ext 2.
Follow ePlay on Twitter, Facebook, and Instagram
Follow BigShot on Twitter, Facebook, and Instagram
About ePlay
ePlay Digital Inc. is a mobile game creator and publisher specializing in sports, esports and entertainment augmented reality titles, including their new flagship title Big Shot Basketball. ePlay is operated by an award-winning team of sports, gaming and esports leaders as well as broadcast and digital technology industry experts, software engineers and athletes who have brought dozens of game titles to market for companies including Time Warner Cable, ESPN, Sony Pictures, AXS TV, Intel, AXN, Fiat, CBS, and others.
ePlay’s wholly owned subsidiary, Mobovivo esports specializes in augmented reality, mobile game development and mobile esports streaming.
Twitch, Mobcrush, and NBA are registered trademarks of Twitch, Mobcrush, and NBA respectively in the United States and other countries. Apple, App Store, and iPhone are registered trademarks of Apple Inc. in the United States and other countries.
Further Information
Further details are available under the Company’s profile on SEDAR at www.sedar.com, and the Company’s profile on the CSE’s website at www.thecse.com/
For further media information, or to set up an interview, please contact:
ePlay Digital Inc.
(310) 684-3857
E-mail: info@eplaydigital.com
Website: www.eplaydigital.com
Canadian Securities Exchange (CSE): Symbol EPY
Deutsche Boerse Xetra - Frankfurt Stock Exchange: Symbol 2NY2; WKN: A2AN4D; ISIN CA26885W1041
Golden Pursuit options out Stevens, BP projects
Golden Pursuit Resources Ltd (TSX:V:GDP) (OTC:FPVTF)
Shares Issued 31,364,103
Last Close 10/22/2018 $0.12
Tuesday, October 23, 2018 - News Release
Mr. Brian McClay reports
GOLDEN PURSUIT ENTERS INTO LETTERS OF INTENT WITH 1167609 B.C. LTD.
Golden Pursuit Resources Ltd. has entered into letters of intent with 1167609 B.C. Ltd. with respect to the Stevens Basin project and Black Point project, which are both located in Nevada, United States.
Pursuant to the Agreements, the Company has granted the Optionee the option to purchase a 60% interest in the Properties subject to a 2% NSR in favor of the Company and which the Optionee shall make the following payments to the Company as set out below:
SB Project
The purchase price of the SB Project is USD$750,000 and is payable on or before the commencement of commercial production. In addition, the Optionee has agreed to make the following lease payments paid in consideration of the grant and maintenance in good standing of the option to purchase: (i) USD$25,000 within 5 business days of signing the Agreement (being October 10, 2018); (2) USD$50,000 on or before the 1st and 2nd anniversary; (3) USD$75,000 on or before the 3rd and 4th anniversary; and (4) USD$100,000 before the 5th anniversary and annually thereafter.
BP Project
The purchase price of the BP Project is USD$500,000 and is payable on or before the commencement of commercial production. In addition, the Optionee has agreed to make the following lease payments paid in consideration of the grant and maintenance in good standing of the option to purchase. Upon execution of the Agreement, the Optionee shall pay to the Company (i) USD$25,000 within 5 business days of signing the Agreement (being October 10, 2018); (2) USD$25,000 on or before the 1st and 2nd anniversary; (3) USD$50,000 on or before the 3rd and 4th anniversary; and (4) USD$100,000 before the 5th anniversary and annually thereafter.
The Company continues to operate under a project generator model with a special emphasis on Nevada. The Company has a remaining large portfolio of 18 other properties located in Nevada and a property in the North West Territories which it continues to compile data from previous work and has completed geological mapping and sampling this past year which has enhanced the understanding of the mineral potential of these projects.
GOLDEN PURSUIT RESOURCES LTD.
Per: “Brian McClay”
Brian McClay, President
CONTACT INFORMATION:
Brian McClay
Email: info@Goldenpursuit.com
Tel: (604) 730-6982
Investor Relations
Terry Bramhall
Tel: (604)-833-6999
U:TRCH Torchlight Energy Closes on $6,000,000 Financing and Provides Operational Update
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Torchlight Energy Closes on $6,000,000 Financing and Provides Operational Update
Company To Drill Three New Wells in its Orogrande Basin Project
PLANO, Texas, Oct. 18, 2018 (GLOBE NEWSWIRE) -- Torchlight Energy Resources, Inc. (TRCH) ("Torchlight" or the "Company") today announced that the Company has closed on debt financing totaling $6,000,000 and will be drilling three new wells on its Orogrande Basin Project in the coming months. Torchlight provided detailed operational updates for each of the Company’s three asset areas.
Orogrande Basin Project:
Torchlight Energy has secured financing to expand its drilling efforts in its Orogrande Basin Project. The University Founders A25 #1H well has confirmed the existence of a significant over-pressured hydrocarbon system in the Pennsylvanian Siltstone and the concept of geologist Rich Masterson, who is also credited with the discovery of the Wolfbone Play in the Delaware Basin. The Company will drill three wells beginning in mid-October 2018 to test over fifteen additional potential pay zones encountered while developing results in the Pennsylvanian Siltstone target. The first two wells will satisfy Torchlight’s obligations under the Drilling and Development agreement with University Lands.
In August, the Company announced an effort to incorporate a newly designed gas lift system to assist with the moving of fluids in the horizontal section of the wellbore. After significant testing there was no measured increased in fluid production and the gas lift system was removed. It has been replaced by a traditional tubing and packer system in the wellbore and Torchlight has individually tested the zones down hole by systematically isolating them in front of and behind the packer. This allowed incremental testing of each zone further out the wellbore to the toe and helped identify that results are coming from communication between all fraced zones combined. A highest hourly rate of 4.1 MMCFPD and daily of 2.2 MMCFPD has been measured with sustained production of ~1.5 MMCFPD during fluid removal at 6 barrels per hour on average. Produced oil has been encountered but further frac fluid removal is necessary to report an oil cut in measured quantities. The shut-in pressure reading was 1675 psi. Currently, the well is producing with flowing tubing pressure at 450 to 500 psi. Torchlight believes that the periodic oil shows during testing indicate significant oil in the system. The Company will continue extensive well tests including pressure transient work to achieve production and confirm the 600-foot hydrocarbon interval contains oil as well as gas. This thesis is reinforced by multiple technical factors including logs, rotary core analysis and oil recovery.
The next Orogrande well to be drilled will be the University Rich A11 #2. The well will be a twin to Torchlight’s Rich A11 #1 well drilled in 2015. Torchlight experienced difficulties during the drilling of the Rich A11 #1 and it was ultimately determined that the cement job on the casing had failed. As a result of data gathered from that process, Rich Masterson has identified five distinct Wolfcamp unconventional targets ranging in thickness from 86 feet to 160 feet. The Company will drill, log, core, and test this geologic concept to produce evidence that these zones spread out over a significant portion of its acreage block.
During the 1920s, an El Paso company called Hueco Basin Oil Company drilled a well near the center of Torchlight’s current acreage block. Although there is very little data on this well from ~100 years ago, a driller's log indicates the presence of oil at a 2500-foot depth. 80 years later, Trail Mountain drilled a well slightly over 1 mile to the northeast of the Hueco Basin well. Using logs from that well, Rich Masterson has identified two conventional Wolfcamp potential pay zones at less than 3,000 feet that will be tested with this new well.
Resulting from well control data and identification of an anomalous dip encountered in the 1,000-foot lateral of University Founders A25 #1H well, Mr. Masterson has identified the possibility of an extremely large anticline on the Torchlight acreage. This feature has the potential of a four-way closure larger than 500 feet. Once confirmed, there exists eight or more pay zones below the Pennsylvanian Siltstone that could trap hydrocarbons. The areal extent of this feature cannot be determined utilizing current data, therefore 3-D seismic will be needed to further delineate the size of this structure.
Hazel Project:
Within the last few months Torchlight shut in the Flying B #3H well to remove the submersible pump and address sanding and inefficient operational conditions cause by gas interference. The Company replaced the submersible pump with a rod pump system from stock resulting in decreased production due to pumping unit fluid capacity limitations. Once this was determined a larger submersible pump was installed resulting in a production increase to ~100 BOPD and ~50 MCF of gas. Torchlight is continuing its marketing efforts with increased interest in the project and will take measures to protect the leases during the process.
Winkler Project:
MECO IV, Torchlight’s operating partner on the UL 21 War-Wink 47 2H well, recently stimulated the well using 9.2 million pounds of proppant in 358,000 barrels of fluid over 30 stages. Subsequently, the post completion plugs were drilled out, the well was turned over to flowback on the 27th of September. Since that time, MECO has been vigilant choking back the well during the initial production period. MECO started with a small choke setting and are now at a 14/64th inch choke with 2000 pounds of pressure and over 300 barrels of oil per day with total fluids over 1900 barrels. Gas is currently at 260 MCFPD and all streams are hooked up to sales. The well is trending up nicely on a daily basis and should reach its peak in the next month or so. It seems to be performing thus far, on par with excellent 5000’ Wolfcamp A wells in the immediate area.
“This is an exciting time for Torchlight as we continue to see results from the field and interest in our efforts from larger peers”, stated John Brda, CEO of Torchlight Energy. “We believe we are entering a transition from proving up our plays to becoming a target for larger independent oil and gas companies that treat field development like a manufacturing process. Our current efforts are preparing for this end and during the first part 2019 Torchlight will be increasing our efforts to identify appropriate suitors. Monetizing the value our past efforts have created in the current asset base, while maintaining exposure to additional upside from future development in the Orogrande Project, remains management’s primary objective.”
About Torchlight Energy
Torchlight Energy Resources, Inc. (NASDAQ: TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary focus on acquisition and development of highly profitable domestic oil fields. The company has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. For additional information on the Company, please visit www.torchlightenergy.com.
Forward Looking Statement
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Such forward-looking statements involve known and unknown risks and uncertainties, including risks associated with the Company's ability to obtain additional capital in the future to fund planned expansion, the demand for oil and natural gas, general economic factors, competition in the industry and other factors that could cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The Company is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Investor Relations Contact
Derek Gradwell
MZ Group
SVP Natural Resources
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us
Torchlight Energy Resources.jpg
Stop and think for a moment,
By Sextant on Stockhouse https://bit.ly/2DaT8wB
Holm has created a subsidiary called Fandom Sports Oy in the gaming capital of the world.
No outside ownership.
100% owned by the parent company.
He has bridged the dichotomy of two worlds—real and virtual.
He has created a “one-business ecosystem with a virtual currency, the Fancoin. One single player account tied to a single mobile phone number can move dynamically between the applications and the player's wallet is governed by the IBM blockchain for trust and transparency.”
If this isnt sports social domination, i dont know what is.
The esports subsidiary represents a perfect dividend for Fandom Sports investors.
Henri can raise big bucks in the subsidiary without affecting the capital structure of the parent company.
This is a higher order of genius and kudos must go to whoever is giving him structural advice.
As i mentioned before, Fandom Sports could become the de facto leader in sports data analytics.
The sponsorships, partnerships and e-commerce potential is staggering!
We are not even close to a meaningful valuation.
Read more at http://www.stockhouse.com/companies/bullboard?symbol=c.fdm&postid=28642911#lIjKzzSpXVyp0DlE.99
Pistol Bay Clarifies Exclusivity Agreement
GlobeNewswire•September 6, 2018
VANCOUVER, British Columbia, Sept. 06, 2018 (GLOBE NEWSWIRE) -- Pistol Bay Mining Inc. (TSX-V - PST; Frankfurt - 0QSA, OTC/Pink Sheet symbol SLTFF) (“Pistol Bay” or the “Company’) would like to take this opportunity to clarify its news release issued September 5, 2018.
At the present time, the Company has not entered into an agreement to market the nutraceutical products referenced in the news release issued yesterday. The Company has entered into an exclusivity agreement with a private Ontario company (“Privco”), executed by the parties on September 4, 2018, that allows Pistol Bay to undertake due diligence on the products, the intellectual property surrounding the products and the market opportunities for both the foundational product, as well as new product applications containing cannabinoids.
The agreement restricts Privco from negotiating for the sale or licensing of the products to third parties for a period of 60 days. The parties are at arm’s length. No business or financial terms have been agreed to at this point and there can be no assurance that Pistol Bay will decide to proceed with a transaction following completion of due diligence, or that the parties will agree on financial or business terms. If such an agreement is entered into, such transaction would likely constitute a change of business pursuant to the policies of the TSX Venture Exchange. In such case trading will be halted pending the approval of such transaction by the TSX Venture Exchange.
The Company wishes to clarify certain information relating to the products which are the subject matter of the current due diligence being undertaken. Privco has advised that it has invested $5.5 million to date in the development, and clinical testing of its foundational product, which has sold commercially since 1991. This foundational product, primarily sold through multi-level marketing companies, is mainly a combination of botanicals that contain multiple molecules that contribute to delivering therapeutic effects, including stress reduction and anti-aging. The foundational product holds an NPN (Natural Health Number) which was issued by Health Canada and Privco advises that retail sales of the product by third party licensees has totaled approximately US$500 million to date.
Privco has developed a product that combines its foundational product with CBD molecules. CBD is a plant-based molecule that is getting a lot of attention recently for its many benefits including treating pain, anxiety, inflammation, and epilepsy. Privco believes that CBD, when combined with its foundational product, could enhance the efficacy of the CBD.
Privco is also developing a second product, a full spectrum soft gel, which will contain solely CBD. Neither of these products have been made available for commercial sale and remain subject to further development and clinical trials.
The Company also wishes to clarify that the statement from the September 5, 2018 news release, “We are unique worldwide in that our adaptogenic blend increases the bioavailability and bioefficacy of the cannabinoids significantly”, was meant to reference a statement put forward by Privco in their current marketing materials. At present, Pistol Bay undertakes no activity in this line of business.
Investors are cautioned that until such time as a definitive transaction agreement is entered into, and a management information circular or filing statement is prepared in connection with such a transaction, any information released or received with respect to the potential transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Pistol Bay should be considered highly speculative.
The TSX Venture Exchange has in no way passed upon the merits of any potential transaction and has neither approved or disapproved the contents of this news release.
About Pistol Bay Mining Inc.
Pistol Bay Mining Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on zinc and base metal properties in North America.
The company is also actively pursuing the right opportunity in the Cannabis space looking to enhance shareholders' value. For additional information please visit the Company website at
www.pistolbaymininginc.com or contact Charles Desjardins at pistolbaymining@gmail.com.
BLUE MOON TARGETS NEW DISCOVERIES
AS DRILLING COMMENCES AT ZINC-RICH VMS DEPOSIT
August 29, 2018 – Blue Moon Zinc Corp. (TSXV: MOON; US: BMOOF) (the “Company”) is pleased to announce that a Phase 1 drill program has just commenced at the Company’s 100%-owned Blue Moon zinc-rich Volcanic Massive Sulphide (“VMS”) deposit in Mariposa County, California. This is the first drilling at this project in more than 25 years with new interpretations of the system providing strong potential for fresh discoveries to significantly expand the known zinc-copper-silver-gold resource.
Patrick McGrath, Blue Moon CEO, commented: “It’s an exciting new time for Blue Moon shareholders as we put our extensive review of historical data to work to identify potential new zinc-rich massive sulphide zones that could dramatically change the scale and dynamics of this project.”
Initial drilling (approximately 4,000 feet or 1,200 meters) will target northern and southern extensions of the upper Main and West lenses between a depth of 500 and 1,000 feet from surface.
Blue Moon geologists also recently performed a comprehensive review of historical data and identified multiple additional priority targets that could represent potential new high-grade zones and/or expansion of current zones, including but not limited to:
600 feet of favourable untested stratigraphy immediately north of the East Zone;
Down plunge extensions of the Main and West zones;
Drill holes on the south flank of the West zone horizon cut stringer mineralization suggesting it is a feeder zone and points to a massive sulphide target to the south of the West zone. Further evidence for massive sulphides in this area comes from an untested off-hole electromagnetic (EM) conductor identified by previous operator Westmin;
A 2,400-foot gap between mineralization in holes B-67, B-70 and B-66 is largely untested and warrants multiple exploration holes with the potential of discovering additional massive sulphide zones;
A 1,500-foot-long zinc-in-soil anomaly with values ranging from 390 to 2,500 parts per metre (“ppm”) has only been tested by four shallow holes and warrants further exploration drilling to test for massive sulphide mineralization underlying the soil anomaly.
Meanwhile, a review of drilling logs of the historical holes used in the NI-43-101 resource calculation revealed numerous intervals of massive and semi-massive sulphides that were not analysed. The Company will systematically sample and assay these intervals as part of the current drilling program.
Please visit our website (www.bluemoonmining.com) for additional information and to review our new corporate video.
About Blue Moon
The Company is currently advancing its 100% controlled Blue Moon polymetallic zinc deposit, which also contains significant credits of copper, silver and gold. The deposit, which is open at depth and along strike, yields historical metallurgical testing that indicates excellent mineral recovery and a clean zinc concentrate. A NI 43-101 technical report detailing the geological resource and summarizing metallurgical recoveries is available on the company’s website (www.bluemoonmining.com), and filed on SEDAR on November 13, 2017. The Company plans to advance the Blue Moon project through to feasibility, permitting and ultimately production.
Qualified Persons
Jack McClintock, P. Eng, a Director of the Company, is a qualified person as defined by NI-43-101, and has reviewed the scientific and technical information that forms the basis for this news release.
For more information please contact:
Patrick McGrath, CEO
1-832-499-6009
pmcgrath@bluemoonmining.com
The Second coming of Zinc Financial Post June 5th-Peter Kenter
Pistol Bay looks to ride resurgent zinc market
Zinc has been riding a price wave as strong demand and market shortfalls have pushed prices for the base metal to 10-year highs of US$1.60 per lb. Pistol Bay Mining Inc.(PST.V: TSX), a diversified junior mining Canadian exploration company focusing on zinc and other base metals, is looking to secure supplies for that underserved market with promising stakes in several northern Ontario properties.
The zinc market has tightened in recent years, between increased demand for the metal and voluntary supplier cutbacks. In its Q2 2018 commodities report, Scotiabank sees zinc prices holding steady through 2019 until some producers re-enter the market. It’s the second big spike of the millennium following record high prices of more than US$2 per lb. in late 2006. The World Bank predicts only a gentle moderation curve in the zinc market by 2030, when prices are expected to hover around US$1.09 — giving zinc a strong economic forecast in the base metal future.
Enter Charles Desjardins, president and CEO of Pistol Bay Mining, a seasoned venture capitalist with a keen eye for commodities. His company is bolstered by a $1.75 million payout received from Rio Tinto in 2017 and 2018 for options on a Saskatchewan uranium property it developed. With 23.5 million shares outstanding and a $2.8 million market cap, Pistol Bay is a small company with plenty of upside potential.
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Intense folding at vein showing.
“Following uranium, I was looking for a commodity that had reached the bottom of the market,” Desjardins says. “But one that had excellent potential for price recovery.”
As the world’s fourth most-used metal, zinc is topped only by iron, aluminum and copper. It’s primarily used in hot-dip galvanizing to provide steel with a corrosion-resistant coating. It’s also used to make brass, build batteries and to provide dietary mineral supplements.
“I’ve lived through several zinc cycles, but what makes this one different is that there isn’t as much capacity to turn back on to meet demand,” Desjardins says. “China is the world’s biggest zinc market, but also its largest producer. However, an environmental crackdown has seen production cutbacks in zinc, with some facilities shut down entirely. They’re no longer turning on the taps in response to higher demand.”
Desjardins searched for underexplored mineral properties with a history of zinc discovery when prices hovered at US$0.60 per lb. Pistol Bay is now the dominant land-holder in the prolific Confederation Lake VMS Greenstone Belt, located 30 kilometres east of Red Lake, Ontario. VMS is an acronym for volcanogenic massive sulfide, a type of ore deposit typically associated with zinc, copper, lead, silver and gold. The road-accessible properties cover more than 15,000 hectares and are located near developed infrastructure.
The holdings encompass two substantial zinc-copper-silver-gold mineral deposits — one with 43-101 compatible mineral resource and one substantial deposit with a historical mineral resource.
“I didn’t want to be entirely dependent on the zinc market, and these properties indicate very good results in copper, silver and gold, in that order,” says Desjardins. “Discoveries for each of these metals could drive an economic decision for a mining company to go into production.”
The Pistol Bay holdings have been sub-divided into six properties for exploration. The search relies on high-tech site surveys, historic research of previous mining and exploration ventures, and on intimate knowledge of the area’s geology.
The area has been successfully mined in the past, and historic production and drilling information is being leveraged to locate potentially large mineral deposits alongside previous discoveries. Pistol Bay is also re-drilling some of the 567 historic drill holes on the properties, where geologists may have narrowly missed promising deposits.
There have been successive phases of exploration in the Confederation Lake belt, all of them using airborne electromagnetic surveys, which uses electromagnetic radiation to identify underground anomalies that indicate potential mineral deposits. But airborne surveying has come a long way since the last round of surveys in the 1980s, says Colin Bowdidge, Pistol Bay’s consulting geologist, who thrives on the detective work required to tease rich deposits from rock and soil.
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Core racks are intact.
“The prior aerial surveys might have identified mineral deposits up to 200 metres below ground,” he says. “Last year, we conducted a 2,100 line-kilometre survey using much more precise helicopter-borne VTEM Plus® equipment, which flies lower and slower to provide images up to 700 metres deep. During that survey, we found brand new anomalies that have never been seen before and really need to be investigated in detail over the next few years.”
Pistol Bay’s plan of attack is based in part on VMS geology that occurred nearly 3 billion years ago when the region was submerged. “Black smokers” — hydrothermal vents on the sea bottom — were first observed off the coast of British Columbia in 1977. The active geology of these formations provides clues to the underwater dispersal of sulfides containing minerals in areas such as Confederation Lake.
Pistol Bay surmises that its Fredart and Arrow zones, which offer records indicating significant copper deposits, represent clusters of the ancient black smokers.
“As lava and magma pushed their way out onto the sea floor and were rapidly cooled, we see significant fractured rocks,” says Bowdidge. “Corrosive seawater leached metals from those rocks and deposited them on the sea floor in depressions such as the valley that runs through the Arrow Zone, on our claims. We’re looking for similar dispersion here in hopes of leading us to a larger deposit.”
Pistol Bay recently drilled three holes in its Arrow Zone, looking to confirm an extension of an already identified deposit. Drill hole GL18-03 ran into the mineralized zone about 65 metres earlier than expected. “As far as we can tell, this places it on a paleo-topographic high rather than in the ‘valley’. It’s possible that this represents a separate sub-zone with its own geometrical constraints,” says Bowdidge.
Precise surveying of historic drill holes with a differential GPS is currently under way, and this may help to resolve the detailed configuration of the mineralization.
“Examining the historical drill logs and processing that data, the most encouraging thing for me is that the geology of the area is quite a bit simpler than we previously thought,” says Bowdidge. “There’s a quartz-feldspar porphyry at the bottom. On top of that is the sulfide zone, and on top of that is another deposit of volcanic rocks that were not part of the original black smoker event. Understanding VMS and focusing on the big picture provides significant cues for exploration.”
Pistol Bay next has its sights on exploratory drilling in Fredart, which has a historical resource of copper mineralization. “Copper and gold tend to go together in the VMS environment, as do zinc and silver, yet most of the historic drill holes on Fredart were never assayed for gold,” says Desjardins.
“The drilling validates historic information and provides a great reminder of the potential that’s already here,” says Desjardins. “It’s a big property and I could see us optioning some of these historic resources to three or four mining companies while we concentrate on exploring the higher risk areas ourselves. Based on what we’ve already seen, we could keep a team of geophysicists modeling the conductors and anomalies we’ve discovered for a long time. This is just the tip of the iceberg.”