Metals Update 27/01/2021

Drilling at the Lakanfla Gold Project Intersects Karst Formations, Western Mali

DIDCOT, UK / ACCESSWIRE / January 27, 2021 / Altus Strategies Plc (AIM:ALS)(TSXV:ALTS)(OTCQX:ALTUF) announces the completion of the stage-1 Reverse Circulation (“RC“) drilling programme and associated passive seismic surveys at its Lakanfla gold project (“Lakanfla” or the “Project“) located in western Mali. Exploration activities at Lakanfla are being funded by Marvel Gold Limited (ASX: MVL) (“Marvel“) under its joint venture (“JV“) with Altus.

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Fiore Gold drills 19.8 m of 1.33 g/t Au at Gold Rock

Fiore Gold Ltd. has released additional results from the continuing drilling program at its Gold Rock project in Nevada. These latest results continue to demonstrate strong intervals of oxide gold mineralization both within and outside of the current resource pit shells. We view this as encouraging in our efforts to upgrade Inferred resources and expand the overall resource envelope as part of the ongoing Feasibility Study ("FS") of the federally permitted Gold Rock project.

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Orea Mining completes eight drill holes at Maripa

Orea Mining Corp. has provided an update on the 2020 drilling program at the Maripa gold project located in French Guiana, France.

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Arizona Metals closes $10-million placement

Further to its press releases dated Jan. 4, 2021, and Jan. 5, 2021, Arizona Metals Corp. has a closed an oversubscribed non-brokered private placement offering of 10,526,315 common shares of the company at a purchase price of 95 cents per common share, for aggregate gross proceeds of $10-million. Net proceeds of the offering will be used to finance the acquisition of 107 acres of private land near the Kay mine (subject to completion of due diligence on the property by the company), for exploration and drilling at the Kay mine VMS (volcanogenic massive sulphide) project in Arizona, as well as general corporate and working capital purposes. The company has also scheduled a second drill to arrive at the Kay mine property during the week of Feb. 8, 2021.

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Magna Gold appoints Sutherland as CFO

Magna Gold Corp. has appointed Colin Sutherland as chief financial officer.

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Aquila Resources Provides Corporate Update

  • Appealed the Judge’s Wetlands Permit decision to the EGLE permit review panel
  • Received an outpouring of local support from senior leadership in Michigan
  • Will continue to work with EGLE to finalize the Back Forty groundwater model in support of a revised application seeking a reissuance of the Wetlands Permit
  • Will undertake optimization studies to assess Project opportunities
  • Evaluating financing alternatives with support from key stakeholders
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Erdene drills 130 m of 0.53 g/t Au at Dark Horse

Erdene Resource Development Corp. has provided final drill results from its 2020 Dark Horse gold prospect and to will complete follow-up exploration work on this exciting new prospect.

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OROCO ANNOUNCES SIGNIFICANT 3D IP SURVEY RESULTS

Vancouver, Canada, Jan. 27, 2021 (GLOBE NEWSWIRE) — Oroco Resource Corp. (TSX-V: OCO, US OTC: ORRCF, BF: OR6) (“Oroco” or “the Company“) is pleased to announce significant results from the deep, three-dimensional, Induced Polarization (“3D IP”) geophysical survey of its Santo Tomas porphyry copper project in Mexico.  The survey is now approximately 80% complete, and Oroco has received preliminary inversion data for all stations surveyed to date.  The preliminary inversion model has successfully mapped the resistivity and chargeability characteristics along a swath 2.1 km wide by 4.3 km along strike over the South Zone, North Zone and part of the Brasiles Zone.  The survey has reached the southern fringe of the prominent Brasiles zone gossans.  Geophysical crews have now re-mobilized to complete the planned program and to prepare additional survey lines to enlarge the north and south-east extents of the current survey area.  The Company has high confidence in the survey results.

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Brixton Metals Summarizes 2020 Results and Outlines 2021 Plans

VANCOUVER, British Columbia, Jan. 27, 2021 (GLOBE NEWSWIRE) — Brixton Metals Corp. (TSX: BBB, OTCQB: BBBXF) is pleased to provide highlights of the results of its 2020 exploration activities and outlines its 2021 exploration plans to advance the district-scale Thorn Project in the Golden Triangle of BC, and its other wholly owned projects.

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Golden Minerals drills 1.3 m of 5.69 g/t Au at Yoquivo

Golden Minerals Company has received assay results from its recent 3,400-metre, 15-hole drill campaign at the company’s Yoquivo gold-silver district-scale property in Chihuahua, Mexico.

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Amarillo signs power line agreement as State of Goiás reaffirms support for Posse

TORONTO, Jan. 27, 2021 (GLOBE NEWSWIRE) — Amarillo Gold Corporation has made a significant step toward building its Posse Gold Mine in Brazil. It has signed a commitment agreement with Enel Brasil, the state electric power utility, to build a dedicated power line to the Company’s Mara Rosa Property in the State of Goiás.

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Generation Mining completes phase 2 testing at Marathon

Generation Mining Ltd. has provided a progress update for the Marathon palladium-copper project in Northwestern Ontario, including the completion of phase 2 metallurgical testing, pilot plant trials and continued advancement on the Feasibility Study.

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Defiance to expand Tepal by 1,915 ha for $2M (U.S.)

Defiance Silver Corp. has entered into an option to acquire 1,915 hectares surrounding the Tepal gold-copper project in Michoacan, Mexico. Defiance has agreed to pay the annual concession fees until a production decision has been made, upon which Defiance will pay the vendor USD $2 million for 100% ownership of the mining concessions.

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Altus recovers up to 96.6% Au from FT samples

Altus Strategies PLC has provided the results of preliminary metallurgical test work undertaken on composite samples of fresh rock collected from core drilling at the FT prospect of its Tabakorole gold project (“Tabakorole" or the "Project") located in southern Mali. Exploration activities at Tabakorole are being funded by Marvel Gold Limited (MVL) ("Marvel") under its joint venture ("JV") with Altus.

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