Metals Update 18/8/2020

Gold Terra begins drilling Yellowknife City

Gold Terra Resource Corp. has commenced a 10,000-metre drilling program testing high-grade gold targets at its wholly owned Yellowknife City gold project (YCG) in Northwest Territories.

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Orca Gold to revise feasibility study for Block 14

Detailed engineering work since delivery of a feasibility study (see company’s news release on Nov. 7, 2018) on Orca Gold Inc.’s 70-per-cent-owned Block 14 gold project in Sudan has identified improvements that are likely to enhance the already strong economics of the project. Orca expects to file a revised study in September, 2020, reflecting these improvements, updating capital costs to Q2 2020 and highlighting the impact of current gold pricing on valuation.

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Southern Silver closes $10M, 4M private placements

In conjunction with the previously announced transaction to acquire an additional 60-per-cent indirect working interest (for a 100-per-cent indirect ownership interest) in Southern Silver Exploration Corp.’s flagship Cerro Las Minitas project, the company has closed the $10-million brokered offering of subscription receipts and has issued a total of 50 million brokered subscription receipts at a price of 20 cents per brokered subscription receipt for gross proceeds of $10-million and has closed the non-brokered $4-million private placement of subscription receipts and has issued a total of 19,047,620 non-brokered subscription receipts at a price of 21 cents per non-brokered subscription receipt for gross proceeds of $4-million. The Brokered Offering was led by Red Cloud Securities Inc. (“Red Cloud”) on behalf of a syndicate of agents (together with Red Cloud, the “Agents”). The Offerings included a lead order from Palisades Goldcorp Ltd. for $1.0 million.

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Millrock begins drilling 64North, CFO to resign

Millrock Resources Inc.’s drilling at the Echo target on the West Pogo block of the 64North gold project in Alaska has now begun. A heliportable drill rig is being used to test a strong CSAMT geophysical survey conductor in the down-dip direction from the nearby Goodpaster gold deposit located on the neighbouring claims held by Northern Star Resources Ltd. In its Aug. 13, 2020, press release, Northern Star indicated its intention to do definition drilling necessary to calculate an initial resource estimate for its Goodpaster deposit with $21-million (Australian) being allocated for the work.

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Treasury Metals begins search for new CEO

Treasury Metals Inc. has planned a leadership change following the recently completed transaction to acquire the Goldlund gold project and a priority to accelerate studies into the development phase of an integrated Goliath-Goldlund project. The newly constituted board of directors has commenced a formal search for a chief executive officer appropriate to the in-tandem development of the gold projects.

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Norzinc’s June 30 working capital at negative $2.6M

Norzinc Ltd. has released its interim financial results and development activities for the second quarter ended June 30, 2020.

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Brixton Metals flow-through, NFT private placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced July 24, 2020.

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Eclipse Gold to start drilling at Hercules next week

Eclipse Gold Mining Corp. will commence the next phase of drilling at its Hercules gold project in Nevada’s Walker Lane trend.

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Evergold drills 0.7 m of 20.8 g/t Au at Snoball

First-ever drilling high on Pyramid Peak, on Evergold Corp.’s Snoball property in Northern British Columbia, Canada, has tapped into a significant new high-grade vein system, returning multiple intercepts of vein-hosted gold and silver, including local high grades. The company notes it is very early days in the unfolding of the discovery, and it may require time to understand the controls on mineralization and determine where to go next. Nonetheless the company is excited to continue exploration and to see where the work in planning may lead, as the evidence suggests that the system that lies beneath Pyramid Peak and Snoball Ridge has vertical extent, deep roots and strong potential for high grades in multiple structures.

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Evrim Resources, Renaissance Gold complete merger

Evrim Resources Corp. and Renaissance Gold Inc. have completed their previously announced merger of equals in which Evrim acquired all of the outstanding common shares of Renaissance through a share exchange transaction pursuant to a plan of arrangement.

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Galway Metals drills 12.95 m of 13.4 g/t Au at Clarence

Galway Metals Inc.’s previously reported intersect of a 14.4-metre massive quartz vein containing 29 splashes of visible gold (VG) in hole CL20-65 (see July 29, 2020, press release) returned 13.4 grams per tonne gold over 12.95 metres. This hole is the first in a newly drilled area, located 320 metres northeast of a previously reported new vein intersection of 11.4 g/t Au over 2.0 m, including 43.5 g/t Au over 0.5 m in hole CL20-58. The intersection in hole 58 had been discovered 75 metres north of the George Murphy zone (GMZ) at the Clarence Stream gold project in southwestern New Brunswick:

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Defiance Silver arranges $7-million placement

Defiance Silver Corp. has entered into an agreement with Red Cloud Securities Inc., as lead agent and sole bookrunner, on its own behalf and, if applicable, on behalf of a syndicate of agents in connection with a best efforts private placement of up to 20.59 million units of the company at a price of 34 cents per unit for gross proceeds of up to $7,000,600.

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Anaconda drills 15 m of 4.37 g/t Au at Stog’er Tight

Anaconda Mining Inc. has released results of a continuing drill program along strike from the Stog’er Tight mine and deposit, located approximately three kilometres east of the company’s operating Pine Cove mill and tailings facility in Newfoundland. The Drill Program to date consists of 1,727 metres in 22 diamond drill holes (BN-20-319 to -340) and was initiated to follow up on the recent drill discovery of mineralization announced on July 7, 2020, which included 5.54 grams per tonne ("g/t") gold over 20.0 metres. To date the Drill Program has successfully expanded mineralization northwestward in the down-dip direction to 170 metres and has added 180 metres of strike (Exhibit B).

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Asante Gold Appoints Non-Executive Director and Incentive Stock Options Announced

VANCOUVER, British Columbia, Aug. 18, 2020 (GLOBE NEWSWIRE) — Asante Gold Corporation (CSE:ASE/ FRANKFURT:1A9/U.S.OTC:ASGOF) (“Asante” or the “Company”) is pleased to announce that Dr. Roger Norwich has been appointed as a non-executive Director of the Company, and has been granted 350,000 incentive stock options for a five-year term at a price of $0.10 per share.

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Japan Gold talks sampling work in Hokkaido

Japan Gold Corp. has provided a progress report on the Barrick alliance project activities in northeast Hokkaido, Japan.

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Klondike Gold drills 10.5 m of 7.57 g/t Au at Stander

Klondike Gold Corp. has released the results of phase 2 and phase 3 diamond drilling at the Stander zone and Stander zone extensions on the company’s wholly owned 586-square-kilometre Klondike District property, Yukon. The drill program successfully constrained the geometry and boundaries of gold mineralization and the consistency in grade of gold mineralization contributing information towards resource delineation. Information obtained from results will be used to prioritize next phases of drilling scheduled to commence in late August.

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C-Suite At The Open: Fred Davidson, President & CEO, IMPACT Silver Corp. tells his Company’s Story.

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American Creek expands D1-McBride by 2,600 hectares

American Creek Resources Ltd. has significantly expanded its D1-McBride property located in the northeast corner of British Columbia’s Golden Triangle. The new claim block encompasses an area of approximately 2,600 hectares immediately adjacent to and surrounding the Corporation’s original 34-hectare D1-McBride property. The Corporation holds a 100% interest in the property.

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