Ion Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) ("ION" or the "Company") is pleased to share further results of an additional TEM (Transient Electro Magnetic) line that intercepted the previously announced 8 TEM lines completed on its Urgakh Naran project.
"An exciting milestone for the Company that validates the results of the previously announced TEM results as well as provide the Company with a means to calculate the brine body on the basis of the low resistivity zone, bringing us one step closer to providing a resource estimate on a market altering deposit at Urgakh Naran," said Ali Haji, CEO & Director of Ion Energy.
The TEM survey validates the high conductivity and low resistivity seen across the previously announced lines across the basin, validating extensions, faults, and displacements affecting the Urgakh Naran aquifer. The Company is equally happy to share results from the extensive drilling operations that we have concluded on the expansive Baavhai Uul licence.
Ion Energy has successfully completed an additional 16 line-km TEM survey on its Urgakh Naran project in Mongolia that intersects the previously announced 82 line-km completed.
Figure 1: Low Resistivity Zone shown with lines 1 through 9.
To view an enhanced version of Figure 1, please visit: https://images.newsfilecorp.com/files/6906/134827_3563649604719999_002full.jpg.
Following the low resistivity northeast structures narrowing from the southwest to the northeast direction, the company completed line 9 intersecting all lines previously completed.
Figure 2: Low Resistivity Zone confirmed by Line 9
To view an enhanced version of Figure 2, please visit: https://images.newsfilecorp.com/files/6906/134827_figure%202%20ion.jpg.
The Company calculates a 22.7 billion cubic meter low resistivity brine body with a cut off of
Figure 3. Low resistivity zone volume at Urgakh Naran.
To view an enhanced version of Figure 3, please visit: https://images.newsfilecorp.com/files/6906/134827_3563649604719999_004full.jpg.
The Company is now working to determine the location of the monitoring well locations and is mobilizing rigs in country to commence a program in the coming weeks. The three hole monitoring well drill program will allow Ion Energy to obtain samples for hydrogeological sampling, porosity testing, flow rates and depth-specific brine sample measurements that will include chemical assays with the objective of announcing a mineral resource estimate in Q4 2022. The Company has confirmed a site visit in late September this year that will include technical experts, strategics and analysts.
As reported to market, Ion Energy completed a significant auger program across the vast Baavhai Uul licence, and alongside the 1502 ppm Li seen at the White Wolf Prospect at Baavhai Uul, the Company reports the discovery of strong CuNi anomalies as reported by Aranjin Resources Ltd, further solidifying the value of the Reciprocal Mining Rights Agreement entered into with Aranjin Resources Ltd on February 1, 2022.
Figure 4. Victory CuNi Discovery at Baavhai Uul.
To view an enhanced version of Figure 4, please visit: https://images.newsfilecorp.com/files/6906/134827_3563649604719999_005full.jpg.
All technical information disclosed in this press release has been reviewed and approved by Khurelbaatar Lamzav, P.Geo., an independent consultant to the Company and a "Qualified Person" under National Instrument 43-101.
ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) is committed to exploring and developing Mongolia's lithium salars. ION's flagship, 81,000+ hectare Baavhai Uul lithium brine project, represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective Lithium Brine licence in Dorngovi Province in Mongolia. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR at www.sedar.com.
COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571
MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920
Cautionary Note Regarding Forward-Looking Information
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 news release.
Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, potential mineralization, exploration and development results, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Important factors that could cause actual results to differ materially from Ion Energy's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134827
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ION Energy Ltd. (TSXV:ION,OTC:IONGF) is a battery metal exploration company focusing on lithium exploration in southeast Mongolia. The company holds one of the largest mining licenses in Mongolia and is leveraging its first-mover advantage to explore an area of more than 80,000 hectares containing lithium brine and spodumene targets.
The global lithium market was worth US$2.86 billion in 2017 and is projected to grow to US$5.88 billion by the end of 2025, according to data by Adroit Market Research. Lithium’s growth is being driven by demand from the green energy and electric vehicle markets. Rising concern over global carbon emissions is leading to the rising adoption of renewable energy generation technologies including electric vehicles and large-scale energy storage technologies, all of which require massive amounts of battery metals like lithium, cobalt and nickel. The International Energy Agency projects the number of electric vehicles on the road to reach 125 million by 2030, with each one containing a large lithium-ion battery. Battery-producing megafactories, including Tesla’s famous giga-factories, are being built around the world, with 91 such facilities expected to be operational by 2028. Governments around the world, including the United States and Chinese governments, are working to secure supplies of battery metals to prepare for a green energy future.
The Mongolian government has granted ION Energy one of the largest exploration licenses in the country for the company’s Baavhai-Uul project in the Sukhbaatar province. The 81,758 hectare asset contains high-grade near-surface lithium brines of up to 810ppm with low potassium and magnesium ratios, which makes for better crystallization of the lithium hydroxide. ION Energy is the first company to be granted a license for this asset, which has never been mined previously. Previous exploration work has been conducted on the project by the Technical University of Mongolia and the Mongolian government.
ION Energy’s management team has extensive experience working with the Mongolian government, which has been largely supportive of mining exploration within the country. The Mongolian economy is largely commodity-based and is considered by the World Bank to be stable and growing. The country’s GDP reached US$13.01 billion in 2018 with a growth rate of approximately six percent. Mongolia enjoys social and political stability and offers a low cost of doing business for international miners. The country is equipped with high-quality and reliable mining and transportation infrastructure. Mongolia’s advantageous position in East Asia puts it close to major lithium markets like China, Korea, Japan and Russia.
The Mongolian government signed a Foreign Investment Promotion and Protection Agreement (FIPA) with Canada in 2017. The agreement established a legal framework under which Canadian investors working in Mongolia are offered greater predictability and certainty for their investments.
The geology of Southeast Mongolia mirrors that the famed Lithium Triangle of South America. Like the Lithium Triangle, the region is an endorheic basin contained within a low precipitation zone.
ION energy’s Baavhai-Uul asset is located approximately 800 kilometers southeast of Ulaanbaatar, the capital of Mongolia and 200 kilometers south of Baruun-Urt, the capital of Mongolia’s Sukhbaatar province. The property is located about 200 kilometers from the Chinese border. The property totals approximately 81,758 hectares in size. The area is well connected, with paved roads connecting all population centers in the area to the capital city. Gravel roads lead directly to the Baavhai-Uul property. Local towns could supply the project with inexpensive labor, while supplies and equipment can easily be obtained from Ulaanbaatar.
Exploration work by the Mongolian University of Science and Technology
Exploration work has been conducted on the property by the Mongolian University of Science and Technology. The university’s work consisted of two pits drilled by hand auger in the lake bottom collected in 20 cm intervals and has indicated the presence of high-grade near-surface lithium brines. Sampling results by the university indicate lithium content in brines of up to 811 ppm lithium with an average of 462.64 ppm lithium. The samples were assayed by the independent certified assay lab Khanlab LLC located in Ulaanbaatar.
Ali Haji is the Director of Antler Hill Mining Ltd and Spirit Banner II Capital Corp. Haji serves as an advisor to ATMA Capital Markets Ltd and Steppe Gold.
Mr. Haji has extensive knowledge of the financial services sector after having spent over 13 years in the Asset Management Industry performing strategic and process improvement roles. He started his career as a technology analyst at Invesco Ltd. in 2006 and advanced into various roles including Technology Risk, Controls, Program Management, and Process Improvement with international assignments involving mergers and acquisitions in Hong Kong, U.S.A and Australia. Most recently, he was also a principal contributor to the creation of a Center of Excellence in London, England for Invesco Ltd. Mr. Haji attended The University of Western Ontario and holds a BSc in Computer Science.
Matthew Wood is a mineral resource explorer and developer with over 25 years of global industry experience in mining and commodities investments. He serves as the Chairman of Steppe Gold (TSX:STGO). He was a Founding Chairman of Avanco Resources, which sold in March 2018 for AUD$440 million and Hunnu Coal, which sold for USD$500 million in 2012.
He has managed investment deals in diamonds, coal, energy, ferrous metals, base and precious metals, and other commodities. His unique skills in technical and economic evaluation of resource opportunities have resulted in a record of nurturing resource deals from early stage, to market listings and exit strategies for his investors.
He was formally the founder and executive Chairman of Mongolian coal company, Hunnu Coal Limited. Hunnu Coal was IPO of the year for all sectors on the ASX in 2010, and its sale for approximately A$500M in 2011 to Banpu PCL was recognized as the Mines and Money 2012 Deal of the Year. Mr. Wood has founded and been involved in many other resource companies and investments through the years.
He has extensive experience and many key relationships in Mongolia and was recently awarded the Order of the Polar Star, the highest state honor that can be awarded to a non-citizen of Mongolia.
Tumur-Ochir is a Mongolian citizen and Executive Director of Steppe Gold LLC. At Steppe Gold, he is responsible for new business acquisitions, development and government and community relations. Mr. Tumur-Ochir is also responsible for daily operations in Mongolia. Mr. Tumur-Ochir is currently a director at GCD Mongolia and CEO and executive director of ASX listed Wolf Petroleum.
Under his guidance, Wolf Petroleum was awarded the “Operator of the Year Award” from the Petroleum Authority of Mongolia, and today, Wolf Petroleum is recognized as the fastest-growing petroleum exploration company with the largest petroleum exploration acreage in Mongolia. Mr. Tumur-Ochir holds a bachelor’s degree in business administration and graduate certificates in international business and marketing from Australia and Singapore.
Mr. Tumur-Ochir has strong relationships at all levels of government in Mongolia and was recently appointed independent advisor to the Ministry of Mining and Heavy Industry responsible for foreign investment and promotion.
Aneel Waraich is the EVP and Director of Steppe Gold, Director of Antler Hill Mining Ltd, CEO of Spirit Banner Capital Corp, Founder of ATMA and ATMACORP with experience in investment banking at Dundee.
Waraich is the founder of ATMA Capital Markets and ATMACORP LTD and a financial services professional with progressive experience in both the asset management and corporate finance businesses.
Waraich focuses primarily on advising public and private companies in the Natural Resources sector. In previous roles at Goodman and Company Investment Counsel and Dundee Capital Markets, he worked as an analyst valuing private companies. Most recently Aneel worked as an investment banker focusing on deal origination, going-public transactions and financings for both public and private companies in the resource and technology sectors.
Enkhtuvshin Khishigsuren has over 30 years of Mongolian mineral exploration experience. He has focused his expertise on the precious metals exploration sector resulting in successes for numerous companies. Mr. Khishigsuren spent the first 10-12 years of his career at Central Geological Expedition doing regional geological mapping in various areas of Mongolia, followed by 7 years as senior exploration manager on exploration of precious metal in Mongolia for Harrods Minerals, privately funded exploration company.
Since 2005 he has been running his own company Erdenyn Erel and conducting exploration and consulting services to Western exploration and mining companies. Mr. Khishigsuren has been responsible for identifying targets and properties. His knowledge and experience have resulted in the discovery of several prospective gold and copper deposits in Mongolia; such as the multimillion ounce gold deposit Olon Ovoot, a large molybdenum porphyry deposit Zuun mod and the Shand copper porphyry deposit near Erdenet copper mine.
Mr. McVicar brings more than 30 years of international business experience in Management Consulting and Finance. His previous roles include Consulting Partner at a Big 4 firm, CFO of a TSX-listed company and several regional finance leadership roles with large US and Canadian multinationals in Canada, the US, South America and Asia. Mr. McVicar is a CPA, CA and graduated with an MBA from Duke University and a B. Comm from Queen’s University.
Wendy Li's more than 18 years of extensive commercial and business development experience in Asia, including Mongolia and China, has spanned across commodity branding and trading, supply chain management and asset development. Prior to joining Ion Energy, Ms. Li served as General Manager of International Trade for Noble Resources Ltd and General Manager of Marketing for SouthGobi Resources Ltd. Ms. Li graduated from Wilfrid Laurier University, in Waterloo, Canada with a Bachelor of Arts, Honours in Economic and Financial Management.
Ion Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) ("ION" or the "Company") is very pleased to announce the results of a TEM (Transient Electro Magnetic) survey on its Urgakh Naran project. The TEM survey detects high conductivity and low resistivity across the basin, and to predict extensions, faults, and displacements affecting the aquifer. The program was highly successful in meeting all objectives.
"The Company is extremely pleased to report TEM results that suggest that the Urgakh Naran project's aquifer is large in size and shows low resistivity. On the back of at surface samples of 918 Mg/L Lithium as announced by the Company on May 9, 2022, these geophysics results further advance the hypothesis of a potential significant lithium brine deposit at the Company's Urgakh Naran site," said Ali Haji, CEO & Director of Ion Energy.
Ion Energy has successfully completed an 82 line-km TEM survey on its Urgakh Naran project in Mongolia.
The survey identified very low resistivity northeast structures narrowing from the southwest to the northeast direction in the central licence.
Figure 1: Low Resistivity Zone Illustrated Against Resistivity Sections
To view an enhanced version of Figure 1, please visit: https://images.newsfilecorp.com/files/6906/130471_fe763eb0c4360a8f_002full.jpg.
Ion Energy is currently assessing the data to determine suitable drill monitoring well locations to test the conductive zone at depth. A three hole monitoring well drill program is planned that will be announced to market in order to obtain samples for lithological description and porosity testing, flow rates and depth-specific brine samples that include chemical assays to allow the Company to achieve an early resource estimate. Figure 1 illustrates the highly conductive zone on the resistivity sections.
All lines show resistivity beginning at a highly encouraging 0.2 Ohm, with a maximum resistivity of 500 Ohm, drawing similarities to assets in the Lithium Triangle.
Ion Energy is highly encouraged by the results of the TEM survey. Surface brine sampling at 918 Mg/L Li at Urgakh Naran along with the 1502 ppm Li seen at the White Wolf Prospect at Baavhai Uul continue to display high prospectivity. The TEM results, geophysics at Baavhai Uul have confirmed the potential for the development of a potentially large, deep highly conductive zone in the central part of the Urgakh Naran concession supporting the geological exploration model and thesis developed by the company.
All technical information disclosed in this press release has been reviewed and approved by Khurelbaatar Lamzav, P.Geo., an independent consultant to the Company and a "Qualified Person" under National Instrument 43-101.
ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) is committed to exploring and developing Mongolia's lithium salars. ION's flagship, 81,000+ hectare Baavhai Uul lithium brine project, represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective Lithium Brine licence in Dorngovi Province in Mongolia. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR at www.sedar.com.
COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571
MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920
Cautionary Note Regarding Forward-Looking Information
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 news release.
Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, potential mineralization, exploration and development results, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Important factors that could cause actual results to differ materially from Ion Energy's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130471
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Couloir Capital is pleased to announce it has published a new research note on ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB). The update report is titled, "Maiden Drilling Results for Flagship Project and 2022 Drilling Work Commenced."
Report excerpt: "Off the back of our previous update report, ION has completed its maiden auger drilling program at its flagship project Baavhai Uul, reporting assay results that offer promising indications about the project's lithium potential. In addition, the program uncovered the anomalous presence of copper and nickel at the project, offering further potential for the project to be future supplier to the EV industry. Moving forward, ION has commenced maiden drilling at its other project Urgakh Naran, with early indications pointing to high-grade lithium potential. We expect that positive findings at Urgakh Naran could build upon positive results from the 2021 drilling at Baavhai Uul and build a growth platform for ION to leverage in future exploration."
The report can be accessed through Couloir Capital's portal: https://www.couloircapital.com/research-portal
Ion Energy Ltd is Mongolia's first lithium brine explorer and developer, with licences spanning a combined landmass of over 100,000 hectares. ION's flagship, 81,000+ hectare Baavhai Uul lithium brine project, represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective Lithium Brine licence in Dorngovi Province in Mongolia. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR at www.sedar.com.
Couloir Capital Ltd. is an investment research firm comprised of a team of veteran investment professionals dedicated to providing world-class opportunities in the natural resource exploration and development sectors along with real and alternative asset classes and strategies.
For further information, please contact:
Rob Stitt, Managing Director, Couloir Capital Ltd. Email: rstitt@couloircapital.com www.couloircapital.com
Disclosure: Couloir Capital Ltd. and/or affiliated companies hold shares and warrants in ION.
A service agreement exists between the Couloir Capital Ltd. and ION Energy Ltd.
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Ion Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) ("ION" or the "Company") is extremely pleased to report that the Company has made a significant lithium brine discovery at its +29,000 hectare 100% owned Urgakh Naran Lithium Project in Mongolia. The brine sample was collected at surface from a shallow pool and assayed 918 mgL Lithium. This is an exceptional early result for the Company and is the highest grade lithium brine known to have ever been collected in Mongolia. This is also in line with lithium brine results from producing operations immediately to the south in China.
"These exceptional early results are extremely exciting for all stakeholders, they reinforce the Company view that high quality lithium brines could be discovered at the Urgakh Naran Lithium Project. We anticipate many more positive updates to the market in the coming months as exploration is ramped up over summer. ION has an active and expanded exploration team on site at Urgakh Naran and exploration is ongoing," said Ali Haji, CEO & Director of ION Energy Ltd.
Figure 1. Location of brine sample collection on one of the salt lakes at Urgakh Naran, showing natural evaporation ponds.
To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/6906/123421_f6a76bdfd453596b_002full.jpg
Figure 2. Brine collected on site at Urgakh Naran during ION's exploration program.
To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/6906/123421_f6a76bdfd453596b_003full.jpg
Figure 3. Exploration status at Urgakh Naran as at May 9, 2022.
To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/6906/123421_f6a76bdfd453596b_004full.jpg
The sample was obtained from a surface evaporation pond indicative of Lithium brine potential at depth. Due to surface evaporation effects, the assay result may not be indicative of lithium grade at depth but is highly encouraging. A series of targeted holes is planned to test brine potential at depth upon completion of the current geophysical and shallow auger hole program.
The Company has now completed all 72 auger drill holes for a total of 820.5 metres and 427 geochemical samples including brine samples. Samples have now all been submitted for lithium analysis. In addition, Ion Energy has completed seven of the eight planned TEM Geophysical lines for a total of 88 line kms. TEM is being utilised to further outline the extensive and widespread accumulations of brines across the project. Initial data is currently being assessed and interpreted by the Company and its geophysical consultant.
All technical information disclosed in this press release has been reviewed and approved by Khurelbaatar Lamzav, P.Geo., an independent consultant to the Company and a "Qualified Person" under National Instrument 43-101.
ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) is committed to exploring and developing Mongolia's lithium salars. ION's flagship, 81,000+ hectare Baavhai Uul lithium brine project, represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective Lithium Brine licence in Dorngovi Province in Mongolia. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR at www.sedar.com.
COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571
MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920
Cautionary Note Regarding Forward-Looking Information
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 news release.
Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, potential mineralization, exploration and development results, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Important factors that could cause actual results to differ materially from Ion Energy's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and 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.
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Ion Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) ("ION" or the "Company") is excited to provide an extensive operational and exploration update on the heels of the site visits in Mongolia in late April, to our Baavhai Uul and Urgakh Naran projects:
+81,000 hectare Baavhai Uul flagship project has shown ~25% lithium anomalies thusfar, as further drilling results are pending; and
Results from core brine sampling are expected from our +29,000 hectare Urgakh Naran sala: sampling was collected from the surface, with five of eight Transient Electromagnetic (TEM) lines completed with 53 auger holes to a depth of 12m,2m after the water table or basement; whichever was arrived at first. Auger holes are being sampled every 2m and are bailed a minimum of twice, 24 hours after being drilled before collecting brine samples.
Following the recent site visits to the 100%-owned Baavhai Uul and Urgakh Naran projects, conducted by our CEO, Ali Haji, ION Director, Enkhtuvshin Khishigsuren, Don Hains, P.Geo, MBA, Lead Technical Advisor, and Dr. Mark King, PhD, P.Geo,ION is pleased to share that exploration programs have advanced and results from both brine collected and core samples are expected in the coming weeks.
ION's CEO, Ali Haji, commented, "I would like to thank Mark and Don for joining this strategic visit, and am excited to be building a critical Lithium supply, with these foremost global industry experts by our side. Having their on-the-ground insight was invaluable from a training perspective for our in-country exploration team, and further reinforced the potential of our highly prospective, world-class assets. We are encouraged by the prospect of Baavhai Uul's pending additional drilling results and Urgakh Naran's current sampling."
ION's technical advisor, Dr. Mark King shared his observations: "I visited Mongolia from April 19-24, 2022 for the purpose of reviewing ION's lithium brine exploration assets, located in the Gobi Desert in southern Mongolia. Though the UN site's program is at an early stage, with TEM geophysics and shallow auger sampling just under way, the geology and morphology of the property is highly prospective, with some parallels to Nevada playa basins and South American salars. It was heartening to see some artisanal salt harvesting in the surface evaporite layers, contained in the low-lying dry ponds and lakes: a good indication of brine presence.
In my first foray into Mongolia, it was evident that the jurisdiction has a very positive view of responsible mining and exploration projects. And my interaction with the in-country ION exploration crew demonstrates that Mongolia has a highly-skilled mining workforce, with well-trained geologists and hydrogeologists to support such projects. I look forward to the upcoming results from both of Ion Energy's sites."
Ion Energy looks forward to providing regular exploration program updates with the market, in the coming weeks. In the meantime, our team has prepared this video to share in the excitement of our recent visit.
Figure 1. Aerial image of two salt flats in the Urgakh Naran Basin.
To view an enhanced version of Figure 1, please visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_001full.jpg
Figure 2. Exploration Camp at Urgakh Naran. To view an enhanced version of Figure 2, please visit: https://orders.newsfilecorp.com/files/6906/122500_fig2.jpg
Figure 3. Natural Evaporation Ponds on one of the salt basins at Urgakh Naran.
To view an enhanced version of Figure 3, please visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_003full.jpg
Figure 4. Brine collected on site at Urgakh Naran during site visit for assay.
To view an enhanced version of Figure 4, please visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_004full.jpg
Figure 5. Senior Technical team: Enkhtuvshin Khishigsuren, Mark King, PhD, PGeo., and Don Hains, P.Geo, MBA with CEO, Ali Haji on site at Urgakh Naran.
To view an enhanced version of Figure 5, please visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_005full.jpg
Figure 6. Exploration status at Urgakh Naran as at April 30, 2022.
To view an enhanced version of Figure 6, please visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_006full.jpg
Results from the maiden auger exploration program have now been obtained for the entire licence. The Company looks forward to the results from the infill program. Given the scale of this licence, we are encouraged by the grades being seen in and around the White Wolf Prospect.
Figure 7. Baavhai Uul results and exploration status map.
To view an enhanced version of Figure 7, please visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_007full.jpg
All technical information disclosed in this press release has been reviewed and approved by Khurelbaatar Lamzav, P.Geo., an independent consultant to the Company and a "Qualified Person" under National Instrument 43-101.
The Company also announces that it has granted to certain consultants and insiders of the Company, 165,000 options an aggregate of 165,000 incentive stock options (the "Stock Options") to purchase common shares under the Company's incentive stock option plan (the "Plan"). Each Stock Option is exercisable into a common share of the Company at a price of $0.605 for a period of two years from the date of grant. The Stock Options will vest immediately and be subject to the terms and conditions of the Plan and the policies of the TSX Venture Exchange.
ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) is committed to exploring and developing Mongolia's lithium salars. ION's flagship, 81,000+ hectare Baavhai Uul lithium brine project, represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective Lithium Brine licence in Dorngovi Province in Mongolia. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR at www.sedar.com.
COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, +1 647-871-4571
MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, + 1 416-432-4920
Cautionary Note Regarding Forward-Looking Information
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 news release.
Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, potential mineralization, exploration and development results, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Important factors that could cause actual results to differ materially from Ion Energy's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and 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.
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TSX Venture Exchange (TSX-V): LIT Frankfurt Stock Exchange (FSE): OAY3 OTCQB Venture Market (OTC): PNXLF
Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF) ("Argentina Lithium" or the "Company") announces that it has closed the private placement announced on July 21, 2022 and increased on August 9 and August 11, 2022 through the issuance of 10,415,000 Units in this 2 nd and final tranche (the "Final Tranche") for aggregate gross proceeds to the Company of $2,083,000 . In total, the Company has closed on 16,630,000 Units for aggregate gross proceeds of $3,326,000 . The Company has also closed the acquisition of the Rinconcita II mining concession area ("Rinconcita II") located on the Salar de Rincon in Salta Province Argentina from provincially-owned company Recursos Energéticos y Mineros Salta S.A. ("REMSA"), as previously announced by the Company on July 21, 2022 .
Each Unit consists of one common share and one transferrable common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.38 per share for two years from the date of issue, expiring on August 25, 2024 for this Final Tranche.
No Finder's Fees were paid in the Final Tranche. In total, $36,260 were paid in cash on a portion of the private placement to parties at arm's length to the Company. In addition, 181,300 non-transferable finder's warrants were issued (the "Finder's Warrants"). Each Finder's Warrant entitles a finder to purchase one common share at a price of $0.38 per share for two years from the date of issue, expiring on August 25, 2024 .
There were no insiders who participated in the Final Tranche, however, certain insiders of the Company participated in the Private Placement for $20,000 in Units. Such participation represents a related-party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101 "), but the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the transaction, nor the consideration paid, exceed 25% of the Company's market capitalization.
A new Control Person on a diluted basis was created in this tranche. This individual has agreed that he will not exercise any of the Warrants if such exercise will result in his beneficially owning or having control or direction over that number of voting securities of the Company which is 20% or greater of the total issued and outstanding voting securities of the Company, immediately after giving effect to such exercise, or result in the undersigned becoming a "Control Person" as defined in the policies of the TSX Venture Exchange (the "Exchange").
This financing is subject to regulatory approval and all securities to be issued pursuant to this Final Tranche of the financing are subject to a four-month hold period expiring on December 27, 2022 .
The proceeds of the financing were used, in part, to complete the acquisition of Rinconcita II from REMSA. The balance of the proceeds will be used for general working capital and exploration on its properties in Argentina . In consideration for the acquisition of Rinconcita II, the Company made a payment to REMSA of USD$2,500,000 and granted REMSA a 3% net smelter return of mineral and refined products sourced from Rinconcita II over its production life, if the property advances to the production stage. The Company's acquisition of Rinconcita II is subject to the final acceptance of the Exchange which should be available upon filing of a signed copy of the agreement with the Exchange.
About Argentina Lithium Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina and advancing them towards production in order to meet the growing global demand from the battery sector. The management group has a long history of success in the resource sector of Argentina and has assembled a first rate team of experts to acquire and advance the best lithium properties in the world renowned "Lithium Triangle". The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
"Nikolaos Cacos" _______________________________ Nikolaos Cacos , President, CEO and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States .
Cautionary Note Regarding Forward Looking Statements This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur and include statements regarding regulatory acceptance of the Company's private placement and acquisition of Rinconcita II and statements regarding the Company's proposed use of proceeds of the private placement. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE Argentina Lithium & Energy Corp.
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The purchase of a 10-acre industrial-zoned property with direct Highway 11 access will allow Canada Silver Cobalt abundant area for core handling and more efficient use of space
Coquitlam, BC TheNewswire - August 25, 2022 - Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada Silver Cobalt") announces that it has closed its acquisition to acquire a 10-acre (4 hectare) property fronting Highway 11 near Cobalt, ON, that will be used as the central hub for all of the Company's Ontario and Quebec operations for a cash consideration of $265,000 which sum represents the value of the property of $465,000, less $200,000 in previously paid lease payments.
The Company entered into a Purchase and Sale Agreement on December 6, 2021, which was revised on April 26, 2022, and further amended on August 23, 2022 to reflect the revised purchase price and the previous lease payments that were made.
The property houses a 4,000 square-foot, fully serviced warehouse that is currently being leased by the Company and used as its main core processing facility. The access to Highway 11 allows for easy transportation of core, samples, and distribution of Company staff to projects across Ontario and Quebec. The property is located on the power grid and does not require any generators. The location is close to Timiskaming Shores and Cobalt, ON and provides easy access to supplies and amenities for Company staff. The property also contains an extra building.
The warehouse has already been converted into a full-service facility that fits the Company's current needs, but will also allow for further expansion as the Company grows. The facility is being used for offices, core logging, sampling, core cutting, and long-term core storage - all located on site.
The purchase of the property is subject to final approval by the TSX Venture Exchange. The vendor of the property is a company controlled by a family member of one of the directors and officers of the Company.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000m drill program aimed at expanding the size of the deposit with an update to the resource estimate underway.
In May 2020, based on a small initial drill program, the Company published the region's first 43-101 resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.
The Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently completed a nearly 15,000-metre drill program on the Graal property; and (2) the prospective 1,000-hectare Eby-Otto gold property close to Agnico Eagle's high-grade Macassa Mine near Kirkland Lake, Ontario where it will be exploring in 2022.
Canada Silver Cobalt's flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space. More information at www.canadasilvercobaltworks.com
"Frank J. Basa"
Frank J. Basa, P. Eng.
Frank J. Basa, P.Eng.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements which include, but are not limited to, comments regarding future financings, if any, pursuant to the short form base shelf prospectus referred to above, and comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, future financings, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. A detailed discussion of the risk factors encountered by Canada Silver Cobalt is available in the Company's Annual Information Form dated July 19, 2021 for the fiscal year ended December 31, 2020 available under the Company's profile on SEDAR at www.sedar.com.
Copyright (c) 2022 TheNewswire - All rights reserved.
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ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the "Company", or "ACME") is pleased to announce that its common shares are now trading on the OTCQX® Best Market under the ticker symbol "ACLHF". ACME upgraded to the OTCQX from the OTCQB Venture Market.
The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.
Led by an experienced team, ACME Lithium is a mineral exploration Company focused on acquiring, exploring, and developing battery metal projects in partnership with leading technology and commodity companies. ACME has acquired or is under option to acquire a 100-per-cent interest in projects located in Clayton Valley and Fish Lake Valley, Esmeralda County Nevada, and at Cat-Euclid and Shatford Lakes in southeastern Manitoba.
On behalf of the Board of Directors
Stephen Hanson Chief Executive Officer, President and Director Telephone: (604) 564-9045 info@acmelithium.com
Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release. This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur and in this news release include but are not limited to the attributes of, timing for and expected benefits to be derived from exploration, drilling or development at ACME's project properties. Information inferred from the interpretation of drilling, sampling and other technical results may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
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Virtual Investor Conferences, the leading proprietary investor conference series, today announced that the presentations from the August Battery Metals Virtual Investor Conference are now available for on-demand viewing.
REGISTER NOW OR LOGIN AT: https://bit.ly/3PITJ8L The company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may download investor materials from the company's resource section.
Companies are accepting 1x1 management meeting requests through August 26.
To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com .
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
Media Contact: OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com
Virtual Investor Conferences Contact: John M. Viglotti SVP Corporate Services, Investor Access OTC Markets Group (212) 220-2221 johnv@otcmarkets.com
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Nevada Silver Corporation ("NSC" or the "Company") (TSXV:NSC) (OTCQB:NVDSF) is pleased to announce the receipt of the first drill core assays from recent drill testing of six priority targets at the Company's 100%-owned Belmont Silver Project located 72 kilometers northeast of Tonopah in central Nevada, USA
Assay results include an intersection of 440 g/t silver and 0.99% lead between 27.74-28.47 meters in drill hole BS2202. The high-grade silver is included within a wider interval between 26.76-30.82 meters which averaged 134 g/t Ag and which forms part of a fault/crush zone that appears to be trending at a high angle to the drill core (Figure 1, Tables 1 and 2).
Gary Lewis, Nevada Silver's CEO, commented.
"This is a very encouraging result - the top few samples of the very first drill core to test the Belmont Silver Mining Camp for more than 100 years has intersected a near-surface zone of high-grade silver.
Six drill holes have been completed in this initial part of our drilling assessment and we are expecting assays from the bottom portion of BS2202 and the other five drill holes during the coming weeks. Once these results have been received and interpreted by our geological team, we will undertake further drilling later in the year.
In all, 24 targets were identified in the recently completed Induced Polarization (IP) and Resistivity survey, so this is just the beginning of an exciting period of exploration at Belmont."
NSC's exploration is the first significant mineral assessment of one of the earliest and richest silver mining camps in the Tonopah district.
Drilling commenced in mid-July 2022, and these results are from the top few samples from BS2202 (25-33 meters) and are the first to be returned from Paragon Geochemical in Sparks NV.
NSC also wishes to advise that in connection with the Company's indirectly wholly-owned subsidiary, North American Silver Corporation's (NASC) option to purchase five patented lode mining claims in Sections 25 and 36, Township 9 North, Range 45 East, MDM, Nye County, Nevada covering approximately 69.88 acres known as the Belmont Property from Summa, LLC ("Summa"), NASC granted a 1.0% Net Smelter Return (NSR) royalty to Summa. The first 25% of the NSR can be repurchased by NASC at any time for US$1.5M and the second 25% can be repurchased at any time for US$2.5M.
About the Belmont Mining District The Belmont Silver Project covers the majority of old silver workings of the Belmont silver mining camp near the historic Belmont ‘ghost' town. The main mining area is located about 2 kilometers southeast of Belmont (Figures 2 and 3).
Belmont is among the earliest and richest silver mining camps in the Tonopah district with an estimated ore head-grade averaging 25 ounces per ton of silver. Historical accounts describe numerous prospect pits and mine openings of shallow underground workings with the richest ore above the water table where silver occurred mostly as silver chloride (cerargyrite). Silver-bearing sulfides together with copper, molybdenum, lead, zinc, and antimony minerals were reported at depth.
During the camp's silver mining heyday between 1865 and 1889 Belmont's population was about 10,000 and the town was the seat of the Nye County Government. Two main vein systems were mined. The eastern veins (Highbridge and Transylvania ledges) were hosted in slate and limestone and dipped easterly at 40-50 degrees. High-grade mineralization was reported adjacent to hanging walls of massive quartz veins and was generally conformable with strata of Ordovician shale, quartzite and limestone. There appears to have been negligible exploration during recent decades despite high-grade silver samples (up to 5,000 g/t silver) collected from remnant dumps during a surface geochemical study by the US Geological Survey in 1985.
About Nevada Silver Corporation Nevada Silver Corporation (TSXV:NSC) (OTCQB:NVDSF) is a multi-commodity resource company with two exploration projects in the USA. NSC's principal asset is the Corcoran Silver-Gold Project in Nevada. In addition, NSC has management and ownership rights over the Emily Manganese Project in Minnesota, which has been the subject of considerable technical studies, with US$24 million invested to date. Both Corcoran and Emily have been the subject of National Instrument 43-101 compliant mineral resource estimates.
Qualified Person The scientific and technical data contained in this news release was reviewed and approved by Ian James Pringle PhD, who is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
For further Information please contact:
Nevada Silver Corporation Gary Lewis Group CEO & Director T: +1 (416) 941 8900 gl@nevadasilvercorp.com
CHF Capital Markets Perry Rapagna Manager, Corporate Development T: +1 (416) 868-1079 x 230 perry@chfir.com
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 Information This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including, without limitation, risks as a result of the Company having a limited operating history and may have a wide variance from actual results, risks concerning the ability to raise additional equity or debt capital to continue its business, uncertainty regarding the inclusion of inferred mineral resources in the mineral resource estimate which are too speculative geologically to be classified as mineral reserves, uncertainty regarding the ability to convert any part of the mineral resource into mineral reserves, uncertainty involving resource estimates and the ability to extract those resources economically, or at all, uncertainty involving exploration (including drilling) programs and the Company's ability to expand and upgrade existing resource estimates, risks involved in any future regulatory processes and actions, risks from making a production decision (if any) without any feasibility study completed on the Company's properties, risks applicable to mining exploration, development and/or operations generally, and risk as a result of the Company being subject to certain covenants with respect to its activities by creditors, as well as other risks.
Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
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OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for 12,000 U.S. and international securities, today announced ACME Lithium Inc. (CSE: ACME; OTCQX: ACLHF), a mineral exploration company, has qualified to trade on the OTCQX® Best Market. ACME Lithium Inc. upgraded to OTCQX from the OTCQB® Venture Market.
ACME Lithium Inc. begins trading today on OTCQX under the symbol "ACLHF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com .
The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.
About ACME Lithium Inc. Led by an experienced team, ACME Lithium is a mineral exploration company focused on acquiring, exploring and developing battery metal projects in partnership with leading technology and commodity companies. ACME has acquired or is under option to acquire a 100-per-cent interest in projects located in Clayton Valley and Fish Lake Valley, Esmeralda County Nevada, and at Cat-Euclid and Shatford Lakes in southeastern Manitoba.
About OTC Markets Group Inc. OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX ® Best Market, OTCQB ® Venture Market and Pink ® Open Market.
Our OTC Link ® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.
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