Metals Update 18/05/2021

Osisko Metals drills 6.67 m of 14.87% Zn at Pine Point

Osisko Metals Inc. has released the final results from the winter drilling program at its Pine Point project located in the Northwest Territories.

The shallow mineralization reported herein is from two multi-purpose drill holes used for in-fill drilling and ongoing hydrogeological investigations. These holes are located within the R67 deposit in the South Trend and the periphery of the W85 Prismatic deposit in the Project’s North Trend (see Map 1 & Table 1).

  • Drill hole R67-21-PP-001 intersected 6.67 metres grading 14.87% Zn and 0.40% Pb (15.27% Zn+Pb) as well as 7.00 metres grading 13.84% Zn and 4.24% Pb (18.08% Zn+Pb) in the R67 deposit.
  • Drill hole W85-21-PP-001 intersected 3.00 metres grading 7.65% Zn and 1.56% Pb (9.21% Zn+Pb) outside of the in-pit resources at the W85 deposit, peripheral to Prismatic mineralization in the core of the deposit.

The R67 deposit occurs in the significantly underexplored South Trend that hosts only Prismatic-type mineralization and hosts the X15 deposit which was the largest deposit mined by Cominco.

Drill hole W85-21-PP-001 has extended the near-pit mineralization that may be expanded upon further with future drilling. Hydrogeological testing is ongoing for the purpose of characterizing the groundwater flow near deposits on both margins of the Pine Point reef structure. The Company expects to be able to release these results during H2 2021.

Drill Hole Composite Assay Results

 Hole Name     Area    DepositFrom  To  WidthTrue Width Zn   Pb Pb+Zn
                                (m)  (m)  (m)    (m)      %   %    %  
R67-21-PP-001South Trend  R67  18.3325.006.67    6.67   14.870.4015.27
                     and  R67  36.0043.007.00    7.00   13.844.2418.08
W85-21-PP-001North Trend  W85  92.0095.003.00    3.00   7.65 1.569.21 

Robert Wares, Chairman & CEO, commented: “The hydrogeological investigations and modelling are an important milestone in better quantifying dewatering costs at Pine Point. Preliminary water flow data collected to date is positive and we eagerly await a report in the second H2 2021. Concurrent to this, the infill and expansion drilling will resume following spring break-up. Many deposits remain open along strike with today’s result at W85 highlighting this potential.”

Anaconda drills 7.8 m of 1.89 g/t Au at Point Rousse

Anaconda Mining Inc. has released initial results of a continuing, previously announced 3,000-metre diamond drill program at its Point Rousse operation in Newfoundland, designed to test several priority targets within several kilometres of the Pine Cove mill and in-pit tailings facility. These targets were identified following a re-evaluation of the near-mill opportunities following a reinterpretation of area geology in light of recent success at the Stog’er Tight Deposit. In particular, the Pumbly Point Target includes a 1.2-kilometre strike of anomalous gold-in-soil and rocks, mapped alteration and coincident Induced Polarization (IP) chargeability anomalies similar to other targets that have resulted in the discovery of gold deposits at Point Rousse (Exhibit A).

Highlights of the Drill Program to date include:

  • 1.89 grams per tonne ("g/t") gold over 7.8 metres (57.2 to 65.0 metres), including 10.60 g/t gold over 0.8 metres in diamond drill hole PP-21-09;
  • 1.42 g/t gold over 4.0 metres (40.2 to 44.2 metres), in diamond drill hole PP-21-08;
  • Recognition of a new prospective horizon 2.0 km north of the Pine Cove Mill;
  • A further 700 metres of anomalous gold-in-soil and rocks, mapped alteration, and coincident IP chargeability anomalies remaining to be tested.

Selected intersections from the Drill Program at Pumbly Point are shown in Table 1 below.

"We are pleased with the initial results at Pumbly Point that demonstrate the potential for the area to host gold deposits, with drill results showing robust grades and thicknesses in the western most portion of the target area tested to date. Further drilling will allow us to understand the extent and geological context of the Pumbly Point results to date, but they clearly indicate there is potential for further discovery in this previously undrilled area. With the expansion of mineralization at Stog'er Tight, three kilometres from the Pine Cove Mill, and continued operation at the Argyle Mine, we are pleased to see further areas of prospectivity opened up adjacent to the current operating mill and tailings infrastructure. We continue to advance our strategy of extending mine life through discovery at Point Rousse, well beyond the current reserves at Argyle and potential resource growth at Stog'er Tight. The current results at Pumbly Point are a positive indication of our ability to make further discoveries."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

Drilling at Pumbly Point to date, including ten diamond drill holes (PP-21-01 to -10; 1,077 metres), intersected a gold-mineralized structure along a 500-metre trend with a further 700 metres to be tested (Exhibit B). The mineralized structure at Pumbly Point is a level of stratigraphy believed to be coincident with the Goldenville Horizon, a prospective geological sequence equivalent to the highly prospective Nugget Pond Horizon located at the Company's Tilt Cove Project. A broader area of prospectivity could be open for further testing should this hypothesis be correct. Another 1,000 metres of diamond drilling are planned to test the additional 850 metres of target along strike at Pumbly Point and plans are being developed to follow up on the higher grade-thickness drill results to date which were intersected in the western most extent of the tested area.

Highlighted composited assays from diamond drill holes PP-21-01 to PP-21-10
Hole ID  From (m)To (m)Length (m)Gold (g/t)
PP-21-02 32.3    33.1  0.8       0.83      
and      58.0    59.0  1.0       0.70      
and      84.1    85.1  1.0       0.66      
PP-21-03 12.5    13.5  1.0       1.76      
PP-21-04 34.0    37.0  3.0       0.77      
PP-21-07 51.0    52.0  1.0       0.61      
PP-21-08 40.2    44.2  4.0       1.42      
PP-21-09 57.2    65.0  7.8       1.89      
including57.2    58.0  0.8       10.60     
PP-21-10 24.0    25.0  1.0       0.95      

Footnotes:Diamond drill holes PP-21-01 to -10 were drilled consecutively. Any drill hole numbers not shown in the table above have no significant assays.Interval expressed as core length only; true thickness is estimated to be 80-100% of interval length due to local drilling conditions that does not always allow for drilling orthogonally to the apparent dip of mineralization.Drill holes PP-21-01, -05 and -06 – no significant assays.

This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

All samples and the resultant composites referred to in this release were collected using QA/QC protocols including the regular insertion of certified standards and blanks within each sample batch sent for analysis and completion of check assays of select samples. Diamond drill core were analyzed for Au at Eastern Analytical Ltd. in Springdale, NL ("Eastern"), using standard fire assay (30 g) pre-concentration and Atomic Absorption finish methods. Eastern is a fully accredited firm within the meaning of NI 43-101 for provision of this service.

Canada Nickel awaits MacDiarmid drill results

Canada Nickel Company Inc. has provided preliminary results from the start of its drill program at the MacDiarmid nickel project located 23 kilometres southwest of the company’s initial Crawford discovery. Assays are pending on all holes.

Canada Nickel announces discovery at MacDiarmid nickel project

Mark Selby, chair and chief executive officer, said: “We are very pleased to have made a second discovery following our initial success in Crawford township. The first three holes drilled at MacDiarmid returned significant intersections of mineralized dunite similar to the average mineralization we initially discovered at Crawford. The results of our preliminary economic assessment for Crawford will now be released on May 25 with a conference call to be held the following morning at 10 a.m. EDT May 26.”

Steve Balch, vice-president of exploration, said: “These results confirm the success of our geophysical targeting approach by successfully drilling our first new target identified on our option properties. We look forward to drilling the other targets identified across our four additional nickel properties, and our recently added sixth target at Bradburn/Dargavel.”

The MacDiarmid project is located 15 kilometres west of the world-class Kidd Creek mine and 23 kilometres southwest of the company’s initial discoveries in Crawford township. The Crawford nickel-cobalt sulphide project is located in the heart of the prolific Timmins-Cochrane mining camp in Ontario, Canada, and is adjacent to well-established, major infrastructure associated with over 100 years of regional mining activity.

MacDiarmid nickel project

The MacDiarmid ultramafic intrusion (MUI) is approximately three kilometres long and 150 to 600 metres wide with the primary target a set of coincident geophysical anomalies of 1.8 kilometres long and up to 400 metres wide. Three holes were collared on the eastern side of the intrusion spaced 200 metres apart and were designed to intersect dunite-peridotite at right angles to the strike direction of the MUI. Mineralization has been defined across a strike length of 400 metres to a maximum depth of 360 metres and widths of 150 to 200 metres. All holes were drilled to the south (205-degree azimuth) at minus-50-degree inclination.

MAC21-01 was drilled to a depth of 411 metres and intersected primarily dunite-peridotite beginning at 26 metres, including an interval of primarily dunite (156-metre true thickness) beginning at 99 metres.

MAC21-02 was collared 200 metres west of MAC21-01 into peridotite at 36 metres and drilled to a depth of 424 metres, intersecting primarily dunite-peridotite (187-metre true thickness).

MAC21-03 was collared 200 metres east of MAC21-01 close to the eastern margin of the intrusion and intersected dunite to a depth of 336 metres (199-metre true thickness) beginning at 29 metres.

All holes encountered minor (three to 15 metres thick) felsic to intermediate dikes.

Qualified person and data verification

Stephen J. Balch, PGeo (Ontario), VP of exploration of Canada Nickel and a qualified person as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Canada Nickel.

Conference call details for discussion of Crawford’s preliminary economic assessment

Canada Nickel is hosting a live question-and-answer conference call on May 26, 2021, at 10 a.m. EDT. Participants may join the call as follows:

  • Dialling local Toronto: 1-416-764-8688;
  • Dialling North American toll-free: 1-888-390-0546;
  • Dialling international toll-free: available upon request;
  • Confirmation No.: 10317274.

A playback version will be available for one month after the call at 1-416-764-8677 (local or international) or North American toll-free at 1-888-390-0541 (passcode 317274 (pound sign)).

American Manganese receives Korean patent

The Korean Intellectual Property Office (KIPO) has granted patent No. 10-2246670 for American Manganese Inc.’s lithium-ion battery cathode recycling process (RecycLiCo), further strengthening its international intellectual property position as a company with an advanced recycling process. South Korea is well respected for its innovation and development in all aspects of the lithium-ion battery industry, such as the production of batteries, cathode materials, anode materials, electrolytes and separators.

“We are extremely excited to have been granted a Korean patent, as I believe it offers significant recognition of our research and development strategies,” said Larry Reaugh, president and chief executive officer of American Manganese. “We continue to lead in recycling innovation and benchmark the extraction efficiency and quality potential of our hydrometallurgical process.”

The granting of the Korean patent confirms that American Manganese’s recycling research is both novel and inventive, which includes key aspects such as:

  • Treatment of several cathode chemistries such as lithium cobalt oxide (LCO), lithium nickel manganese cobalt oxide (NMC) and lithium nickel cobalt aluminum oxide (NCA);
  • Methods for achieving 100-per-cent extraction of cobalt, nickel, manganese, aluminum for all cathode chemistries tested;
  • Method for achieving 100-per-cent lithium extraction by a novel locked cycle process.

The rapid growth in demand for lithium-ion batteries, particularly for electric vehicles, is coupled with an increasing concern for lithium-ion battery waste and the critical material supply chain. Existing recycling processes depend on complex and costly processing steps that can produce harmful emissions, waste water and poor material recoveries that require further third party processing and refining before they can be processed into lithium-ion battery cathodes. The RecycLiCo patented process is designed with the goal of establishing a fully circular battery supply chain by recycling up to 100 per cent of cathode material, and to regenerating new cathode materials that could be directly integrated into the remanufacturing of battery cathodes — all using minimal processing steps.

The granted KIPO patent, U.S. patent No. 10246343, U.S. patent No. 10308523 and national phase patent applications filed for in China, Japan, Europe, Australia, India and Canada significantly strengthen American Manganese’s patent portfolio in relation to lithium-ion battery cathode recycling. In addition, the company holds patents in the United States, South Africa, China and Canada in relation to manganese processing.

Millrock Partner Resolution Minerals Reports Drilling Results at Sunrise Prospect, 64North Gold Project, Alaska

VANCOUVER, British Columbia, May 18, 2021 (GLOBE NEWSWIRE) — Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) is pleased to announce that partner Resolution Minerals Ltd. (ASX: RML) has reported that thick intervals of intrusion-hosted gold mineralization have been intersected at the Sunrise prospect, 64North gold project. The intervals were intersected in a recent rotary air blast (RAB) drill program that was carried out at the project.

In total, Resolution drilled 27 holes along a fence 1,400 meters in length. The style of mineralization is similar to that observed at the Fort Knox gold mine operated by Kinross near Fairbanks, Alaska. Drilling detected gold over a 280-meter-wide corridor which is open at depth and to the north and south. The host granite intrusion is interpreted to extend more than one kilometer to the south of the recently completed RAB drilling. The gold mineralization is contained within a large gold-in-soil anomaly. The Sunrise prospect is located approximately four kilometers southwest of the Pogo Mine, which is operated by Northern Star Resources Limited.

Drill result highlights include:
Hole 21SU00736.6 meters at 0.33 g/t gold from surface
 Including:1.5 meters at 1.42 g/t gold from 1.5 meters depth, and
  1.5 meters at 2.60 g/t gold from 9.1 meters depth.
Hole 21SU00974.7 meters at 0.26 g/t gold from surface over the entire length of the hole
 Including:1.5 meters at 1.77 g/t gold from 12.2 meters depth, and
  1.5 meters at 1.02 g/t gold from 48.4 meters.

Of the 27 holes drilled, nine holes intersected gold mineralization grading above a cut-off grade of 0.1 g/t gold over significant intervals. The drill results indicate a mineralized corridor 280 meters in length. There is a strong association of bismuth and arsenic with gold-mineralized rock. This is the same metal association observed at Kinross’ Fort Knox gold mine. A complete listing of results is shown in Table 1A.

Resolution also reports that other potential Fort Knox style intrusive targets have been recognized near the Pogo Mine road, proximal to the Sunrise Prospect. The company plans to make a ground appraisal of the Sunrise Prospect and surrounding prospects in late May. Further drilling and geophysics are under consideration.

Resolution is also planning a 2,000 meter reverse circulation helicopter-supported drilling program on the East Pogo Prospect. The drilling is scheduled to commence in early June. High-grade gold mineralization identified last year during surface work is to be targeted.

Table 1A: Summary of drill intervals from March-April 2021 drilling at the Sunrise prospect.

Hole IDProspectFrom (m)To (m)IntervalAu (g/t)
Hole IDProspectFrom (m)To (m)IntervalAu (g/t)

Table 1B: Drill collar locations for Sunrise prospect drilling.

Hole IDEastingNorthingElevation (m)AzimuthDipEOH Depth (m)
Hole IDEastingNorthingElevation (m)AzimuthDipEOH Depth (m)

Notes for Tables 1A and 1B:

  1. An accurate dip and strike and the controls on mineralisation are yet to be determined and the true width of the intercepts is not yet known.
  2. Coordinates are in NAD83, Zone 6.
  3. Elevation and Hole Depth are in metres.
  4. Azimuth is in Degrees Grid North.
  5. Dip is in degrees.
  6. Abbreviations: g/t (grams per tonne), ppm (parts per million), ppb (parts per billion), NSI (no significant intercept)
  7. All drilling is 3 and 5/8“ diameter RAB chip drilling, all of hole is sampled.
  8. Significant results are shown for intercepts >0.1g/t Au with no more than 3.048m (10 feet) of internal dilution.

Black Iron Strengthens Board & Operations Team

TORONTO, ON / ACCESSWIRE / May 18, 2021 / Black Iron Inc. (“Black Iron” or the “Company”) (TSX:BKI) (OTC PINK:BKIRF) (FWB:BIN) is pleased to announce the addition of Zenon Potoczny to its Board of Directors, Stefan Gueorguiev as Project Director and retirement of Les Kwasik after nearly 51 years in industry.

Zenon Potoczny is currently the president-elect of the Canada-Ukraine Chamber of Commerce, VP Operations for the Ukrainian World Congress and Director of Sweden publicly listed Zhoda Investments. Zenon has successfully built and operated several companies in Ukraine ranging from oil and gas projects through to hotels. He has extensive relationships with senior members of Ukraine’s government and is typically involved in all major diplomatic visits between Canada and Ukraine.

Stefan Gueorguiev has over 25 years’ experience in the engineering, project management and construction industry. Most recently, Stefan was VP Projects & Capital Construction for Polyus where he was responsible for the construction of several Russian based gold mines valued at over US$800 million per year. Stefan is very familiar with Black Iron’s Shymanivske project as he led both the 2013 and further optimized 2014 feasibility studies.

Les Kwasik is retiring after an amazing career during which he has been involved in the design, construction and operation of mines in located in seven countries. Les started his career in Canada at Inco’s Copper Cliff mine where he quickly rose to the position of Pit Superintendent and then took off to see the world. Through his esteemed career, Les took on various roles ranging from Project Director through to Chief Operating officer in countries with vastly different cultures, language, food, weather including Columbia, Germany, Saudi Arabia, Indonesia, USA and Ukraine. Les has agreed to remain available to Black Iron in a causal consulting capacity as he transitions to enjoying retirement in Panama with his wife.

Black Iron’s CEO Matt Simpson stated “It has been a pleasure working with Les for several years as he has extensive knowledge and is great at forging relationships. It is very rare for someone to achieve 50 years professional work experience and this is a testament to Les’ love for the mining sector. I would like to welcome Zenon and Stefan to Black Iron’s team. The addition of Zenon to Black Iron’s board will strengthen our relationships in Ukraine during this critical time of project execution. Stefan is an exceptional Project Director that I have had the pleasure of working with previously and is coming back to Black Iron to finish what we started together, being to build the Shymanivske iron ore mine.”

Hudson Provides Update on Production of Smelter Grade Green Alumina From Greenland Anorthosite

VANCOUVER, British Columbia, May 18, 2021 (GLOBE NEWSWIRE) — HUDSON RESOURCES INC. (“Hudson” or the “Company”) (TSX Venture Exchange “HUD”; OTC “HUDRF”) is pleased to announce that significant progress has been made in the production of a green, waste free smelter grade alumina product from anorthosite (CaAl2Si2O8) from the White Mountain mine in Greenland. Hudson has a 31.1% equity interest in the White Mountain mine and rights to acquire 100%.

Hudson engaged Kingston Process Metallurgy Inc. (KPM) in Kingston, Ontario, Canada, to produce four kilograms of smelter grade alumina (Al2O3) made from the White Mountain anorthosite. The smelter grade alumina produced will be sent to several major aluminum producers who have requested the product for evaluation. The KPM program is expected to be completed in approximately one month. Additional alumina testwork is also being conducted by a group in Europe.

Hudson has undertaken a significant amount of work over the past eight years investigating the production of specialty grade alumina and smelter grade alumina from anorthosite. In March 2015, Hudson announced the results of a robust Preliminary Economic Assessment (refer NR2015-01). KPM is utilizing a flowsheet developed by Hudson which uses known and proven technologies to extract +90% of the aluminum from the anorthosite. The process produces a smelter grade alumina designed to meet the specifications of the major aluminum smelters. The Hudson process is scalable and only produces saleable byproducts and zero waste and is therefore green which aligns to Hudson’s operating philosophy. The Bayer process, which is used extensively in aluminum production, uses a feedstock of bauxite ore and a process which requires the use of high temperature caustic soda solution. As a consequence, the Bayer process produces almost four tonnes of toxic waste, known as “red mud”, for every tonne of aluminum produced. The disposal and environmental issues created by the Bayer process is of huge concern to aluminum producers as well as the environmental community due to amount of toxic waste produced.

Jim Cambon, President commented: “I am pleased to announce our production of green smelter grade alumina is progressing well with significant interest from aluminum producers and end users who are demanding a greener aluminum. We believe our process of producing waste-free alumina from anorthosite will be a key component in the development of green aluminum. By eliminating all caustic red mud tailings our process removes one of the most polluting aspects of aluminum production. Our timing is perfect to bring to the market a green, zero-waste aluminum product and we continue discussions with potential partners to bring this to commercialization.”

Hudson also owns 100% of the Sarfartoq REE project and Nukittooq niobium-tantalum project in Greenland. The Sarfartoq project has a 43-101 resource outlining 35M kilograms of neodymium oxide and praseodymium oxide, the two key components in permanent magnets driving the green revolution. The Nukittooq project has some of the highest reported niobium assays in the industry (see NR2020-15).

Alpha Lithium to Acquire 3,800 Ha in Renowned Productive Region of Argentina

VANCOUVER, British Columbia, May 18, 2021 (GLOBE NEWSWIRE) — Alpha Lithium Corporation (TSX.V: ALLI) (OTC: ALLIF) (Frankfurt: 2P62) (“Alpha” or the “Company”), sole owner of one of the last large, undeveloped salars in Argentina’s Lithium Triangle, is pleased to announce that it has entered a Letter of Intent (“LOI”) to acquire an unencumbered, 100% ownership position of 3,800 Hectares (the “Property”) in Argentina’s Hombre Muerto Salar, which is widely understood to be one of the world’s highest quality productive lithium brine salars, comparable only to the Salar de Atacama in Chile.

The Company has signed a LOI with Argentina Prime Holdings Inc. (“TargetCo”), the owner of the Property, to issue 5 million common shares of the Company in exchange for 100% of the issued and outstanding securities of TargetCo (the “Acquisition”).

Alpha will find itself surrounded by major players in Hombre Muerto, which is known for its premium quality brine, offering record high lithium concentrations and exceptionally low impurities. This combination is proven to be excellent raw material for ultra-high-purity lithium chemicals.

Hombre Muerto is the highest quality lithium deposit in Argentina. It is home to Livent Corp’s Fenix operation, which has been in commercial production for over 25 years. Hombre Muerto also houses Korean giant, POSCO’s Sal de Oro project, which it acquired from Galaxy Resources Limited (“Galaxy”) for US$280 million. Additionally, the southern portion of Hombre Muerto is home to Galaxy, who recently announced an AU$4 billion merger with Orocobre Limited.

Together, the Salar de Atacama and the Salar del Hombre Muerto provide between 50-70% of the world’s lithium supply1 (Mercado & Cordova 2015, p. 8), (ABC Del Litio Sudamericano, F. Nacif 2018).

On completion of the Acquisition, Alpha will earn a 100% working interest in the Property with no third-party royalties or encumbrances. A small Vertical Electrical Sounding (“VES”) survey has been conducted on the property, confirming the presence of the well-known, underlying productive zones of the Hombre Muerto Salar. The Company plans to immediately initiate drilling in the area. This approach is consistent with the aggressive exploration campaign Alpha has undertaken at its Tolillar salar operation which is located only a few kilometers away. Numerous synergies between Tolillar and Hombre Muerto were identified prior to Alpha’s entry into the Acquisition process, some of which include plentiful access to fresh water (available in Tolillar but limited in Hombre Muerto), year-round road infrastructure (in both salars) and an existing natural gas pipeline to provide sufficient energy to a future industrial operation (already existing on Hombre Muerto).

Brad Nichol, President and CEO, commented, “This incredible and sizeable acquisition is a huge opportunity for the Company and supports Alpha’s long-term vision of advancing the company into a Lithium producer. Our team, who are very familiar with and experienced in Hombre Muerto, intimately understand its geology and brine chemistry and have a vast technical advantage over many other operators in the region, primarily based on their decades-long experience operating specifically in Hombre Muerto salar. After recently establishing proof of concept in Tolillar, today’s announcement is our first major move into a very well known, world-class, producing salar and I hope to continue on that trend. My team and I are intent on building a truly exceptional Company with first-class assets.”

The Acquisition is subject to a number of customary closing conditions, including the approval of the TSX venture Exchange and the satisfactory result of Alpha’s due diligence reviews. The Company will provide updates as these activities progress.

Gold Terra drills 9.2 m of 1.32 g/t Au at NWT project

Gold Terra Resource Corp. has released assay results for two drill holes from the company’s phase 1 drilling program at the company’s optioned property from Newmont Ventures Ltd. and Miramar Northern Mining Ltd., adjacent to its Yellowknife City gold project (YCG), Northwest Territories. The latest drill results extend the Kam Point North zone 200 metres deeper, confirming down dip continuity. Kam Point North is situated approximately 1 kilometre south of the high-grade Yellorex zone reported previously (see figure 2). Drill results continue to confirm the strike continuity of gold mineralization for over two kilometres in the Campbell Shear structure from which the former Con Mine produced 5 million ounces of gold.

President and CEO David Suda stated, "We have successfully intersected new gold mineralized lenses and the presence of gold mineralization below 350 metres vertical depth in the southern part of the Newmont Option. These latest results confirm the continuity of gold mineralization below the Kam Point North zone that are comparable to the same high-grade mineralization style mined at the Con Mine. We have now identified vectors to the higher-grade lenses within the broader Campbell Shear structure. Using these vectors we will further test and build on our success this coming July with our 10,000 metre Phase 2 drilling program along the Campbell shear structure, which remains open at depth and along strike in both directions."Figure 1 -Drill hole locations and extent of mineralization in Campbell Shear

Drilling Highlights

Results for holes GTCM21-010 and GTCM21-011 totaling 1,372.42 metres are as follows and are shown in figure 2:Hole GTCM21-010 intersected 1.80 g/t Au over 3.07 metres within the Campbell Shear structure. This gold-bearing zone consists of a strong and pervasive sericite alteration with smoky quartz veins, pyrite and arsenopyrite needles. The Campbell Shear intersected by hole GTCM21-010 is 210 metres wide, including a 26 metre-wide undeformed "horse". Areas that were historically described as "horses" by Con Mine geologists were significant for localizing gold mineralization in the pressure shadows they create.Hole GTCM21-011 intersected 1.32 g/t Au over 9.20 metres including 5.99 g/t Au over 1.45 metres within the Campbell Shear structure. The Campbell Shear intersected by this hole is 157 metres wide and is anastomosed, separated by several undeformed "horses" between strong shear zones. The whole structure is 157m-wide including these "horses".

Gold mineralization in both these holes is associated with thick smoky quartz veins rich in arsenopyrite needles within a strongly sericitized alteration envelope hosted in a highly sheared mafic volcanic rock. This is very similar to the same high-grade mineralization style mined at the Con Mine. These two holes were drilled to follow-up alteration zones intersected by holes GTCM21-006 (see April 6, 2021 press release) and GTCM21-007 (see April 27, 2021 press release). Based on the geological model for the Campbell Shear at the Con Mine, a sericite alteration halo surrounds high-grade gold mineralization. Hole GTCM21-010 successfully intersected new gold mineralized lenses based on alteration halos identified by previous drilling. The hole confirms the presence of gold mineralization at depth (below 350 metres vertical depth). Hole GTCM21-011 tested the continuity of the gold mineralized lenses intersected by hole GTCM21-007 (1.14 g/t Au over 11.05 metres) confirming zone continuity of at least 200 metres downdip (see figure 3). Intersecting a gold envelope in the order of 1g/t Au over a width of 10m is highly indicative of an area that requires additional drilling.Figure 2 – Longitudinal Section showing drill holes GTCM21-010 and GTCM21-011. Figure 3 – Cross-section showing hole GTCM21-011.

The Phase 1 winter drilling objective was to systematically intersect the Campbell Shear structure and to define its internal gold structures. It is important to identify the corridors that hold gold mineralization as Gold Terra's compilation of level plans at the Con Mine show that low-grade gold transitions into high-grade gold lenses and that the transition can occur over a very short distance. The Con Mine is a 5 Moz. deposit that consists of such lenses with anomalous gold envelopes where the higher gold mineralization often varies from a single narrow high-grade vein/shear to several withing the same envelope.

The Company completed its Phase 1 drilling program with 13 holes totalling 7,242 metres last winter, with assays pending for the last two holes.

Technical Appendix

This news release reports the assay results from two (2) drill holes totaling 1,372 metres from which 430 core samples were assayed. Assays results range from non-detectable gold to the highest assay of 6.60 g/t Au. The best intersections are listed in Table 1. The Company inserts certified standards and blanks into the sample stream as a check on laboratory Quality Control (QC). Drill core samples are cut by diamond saw at Gold Terra's core facilities in Yellowknife. A halved core sample is left in the core box. The other half core is sampled and transported by Gold Terra personnel in securely sealed bags to ALS (ALS) preparation laboratory in Yellowknife. After sample preparation, samples are shipped to ALS's Vancouver facility for gold analysis. Gold assays of >3 g/t are re-assayed on a 30 g split by fire assay with gravimetric finish. Samples with visible gold are additionally assayed using a screen metallic method. ALS is a certified and accredited laboratory service. ALS routinely inserts certified gold standards, blanks and pulp duplicates, and results of all QC samples are reported.

Drill holes were drilled at right angles to the structure hosting the mineralization and dip angles of holes were designed to intersect the zones as close to normal as possible. Zones reported here are interpreted to be 80 to 90 percent true thickness.

The technical information contained in this news release has been reviewed and approved by Joseph Campbell, Chief Operating Officer, a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Allegiant Gold drills 14 m of 1.08 g/t Au at Eastside

Allegiant Gold Ltd. has released the results of 49 exploration RC (reverse circulation) drill holes, totalling 5,850 metres, drilled in the Castle zone around the former-producing Boss pit, located within the Eastside gold project. Eastside hosts a current NI 43-101 pit-constrained Inferred resource of 1,094,000 ounces gold equivalent from 57,050,000 tonnes grading 0.60 g/t AuEq*, however, the Eastside resources estimate which was carried-out in 2020, did not include the Castle Zone.

See Eastside property map (Map 1) here:

The shallow at surface mineralization and good gold grade at the Castle Zone are a game-changer for the Eastside project for the following reasons:

Potential significant increase in contained ounces

Potential significant decrease in strip-ratio

Obvious starter-pit for a potential future Eastside mine

All assays have now been received and interpretation is continuing within the greater Castle Zone. Some of the highlights include:

47 holes encountered mineralization within 45m from surface;

Significant intercepts included:

5m of 1.85 g/t from Hole ES-196

14m of 1.08 g/t from Hole ES-202

4.5m of 2.32 g/t from Hole ES-211

3.6m of 2.00 g/t from Hole ES-216

1.5m of 3.86 g/t from Hole ES-222

The Drilling encountered very shallow gold best described as a blanket-like zone which commences at an approximate depth of between 0-30 meters, and consistently continues for 20-40 meters in thickness. Gold is hosted in Tertiary andesite and rhyolite tuff, associated with quartz stockworks, iron oxides along fractures, argillization, and occasionally massive silicification. The Tertiary volcanic rocks overlie Paleozoic rocks of the Palmetto Formation which were encountered at depth in nearly all the drill holes. Drill intercepts (using a 0.1 g/t cutoff gold) for the 49 holes are shown in an attachment form (Table 1). Most of the holes were angle holes drilled in a variety of directions at 45 degrees. Essentially all of the mineralization in drilling is deemed as “oxide” visually.

Table 1: Boss Drilling Results

Peter Gianulis, CEO of Allegiant Gold, commented: “We continue to be pleased by the ongoing results and advancement at Eastside. Given the favorable location of the project, superior access to infrastructure, the shallow nature of the mineralization in the Castle Zone, and the potential for a low strip ratio, the results present a major leap forward for the Eastside project. Next steps planned at Castle will include expansion drilling, metallurgy, a resource estimate and a scoping study.”

* The updated resource estimate (“Updated Resource Estimate and NI 43-101 Technical Report, Eastside and Castle Gold-Silver Project Technical Report, Esmeralda County, Nevada”) was conducted by Mine Development Associates (“MDA”) of Reno, Nevada with an effective date of December 30, 2019. Contained pit-constrained Inferred Resources of 1,094,000 AuEq ounces at 57,050,000 tonnes at 0.60 g/t AuEq (gold-equivalent ounces were calculated by ALLEGIANT using a silver/gold ratio of 80:1). Heap leach extractions are expected to be around 70% and 20% for gold and silver, respectively, using a three- stage crushing procedure. Milling with a fine grind is expected to result in extractions over 90% and around 50% for gold and silver, respectively. Utilizing a 0.15 g/t cut-off for Au, measured gold was 0.54 g/t and silver was 4.3 g/t. In accordance with NI 43-101 the MDA Technical Report dated January 24, 2020 will be filed on SEDAR. This report builds on and supersedes the NI 43-101 reports of Ristorcelli (December 2016) and Ristorcelli (July 2017) titled “Resource Estimate and Technical Report, Eastside Gold-Silver Project, Esmeralda County, Nevada” prepared for Allegiant with an Effective Date of July 25, 2017. A copy of the Eastside Technical Report can be found on SEDAR at

Dynacor gets Glass Lewis support for director nominees

Glass Lewis and Co. LLC, a leading independent proxy advisory firm that provides voting recommendations to institutional investors, has recommended that Dynacor Gold Mines Inc.’s shareholders vote for all of the director nominees and meeting resolutions at Dynacor’s annual meeting of shareholders scheduled for June 17, 2021.

The Meeting will take place 1, Place Ville Marie, 40th Floor, Montreal, Quebec H3B 4M4 and via live webcast at The Corporation strongly encourages shareholders to vote by proxy in advance of the Meeting and not to attend in person. Shareholders may attend the Meeting via live webcast, where all shareholders, regardless of geographic location and equity ownership, will have an equal opportunity to participate and engage with the Corporation, as well as other shareholders.


The Board of Directors recommends that shareholders vote FOR all of the proposed resolutions.

Please submit your vote well in advance of the proxy voting deadline at 10:00 a.m. (Eastern Daylight Time) on June 15, 2021.

How to vote Your vote is important regardless of the number of shares you own

Voting for Beneficial Shareholders

INTERNET: Go to and enter your 16-digit control number found on your voting instruction form to vote online.

TELEPHONE: Call the toll-free telephone number listed on your voting instruction form and enter your 16-digit control number found on your voting instruction form to vote by telephone.

Voting for Registered shareholders

INTERNET: Go to Enter the 13-digit control number printed on the form of proxy and follow the instructions on screen to vote.

TELEPHONE: Call 1-888-489-7352 and follow the voting instructions. You will need the 13-digit control number printed on the form of proxy to vote.

Shareholder Questions and Assistance

Shareholders who have questions or require voting assistance may contact Dynacor’s shareholder communication advisor and proxy solicitation agent, Laurel Hill Advisory Group, by telephone at 1-877-452-7184 (toll-free in North America) or 1-416-304-0211 (collect call outside North America) or by email at