Bald Eagle Gold Corp. (" Bald Eagle " or the " Company ") (TSXV: BIG) (OTCBQ: BADEF) (FSE: 6W0) is pleased to report new zones of high-grade silver, lead and zinc values in soil samples. These discoveries were made during a regional geochemical sampling program at the Company's 100% owned Hercules Silver Project in the Heath Mining District of Idaho (" Hercules ", or the " Property "). Figures 1-4 illustrate the combined historical and 2021 sample results for silver, zinc, lead and manganese.
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Subsequent to the acquisition of the Property, the Company acquired the neighbouring Leviathan property and staked additional ground covering a total contiguous land position of 4,256 acres. Following this district-scale land consolidation, the Company conducted a regional geochemical sampling program, which consisted of 1,575 soil samples across the current and expanded land package. The program comprised confirmation sampling over a 640-acre historical survey grid and also over the full 4,256-acre consolidated project area. The new sampling verified strongly anomalous silver values reported by historical operators in the 1970's and 1980's. Additionally, it discovered an important extension of the silver-lead-zinc bearing Hercules Rhyolite over 2.6 kilometers southeast of the Belmont Zone. This extends the total strike length to upwards of 5.5 kilometers of favorable high-grade silver host rock, materially increasing the exploration potential of the Property. This newly acquired information, together with the 3D model comprising approximately 300 historical drill holes, will provide the Company with the key information needed to design its future drilling plans.
Chris Paul , CEO and Director of the Company, comments: "Our new sampling results highlight the scale of silver mineralization at Hercules and demonstrate the potential for high grade mineralization far beyond the limits of historical drilling. These are very high soil geochemical values. 1,063 of 3,397 historical and 2021 soil samples grade 5.0 ppm or higher across the 4,256-acre consolidated project area. Continuous zones of strong silver grades in historical drilling at the Hercules Adit and Fishpond Zones are associated with soil anomalies of up to 1 ounce per ton silver (35 ppm), while several multi ounce silver in soil anomalies remain to be tested elsewhere on the Property. South of the Belmont Zone, a cluster of soil samples on the order of several hundred ppm remains to be adequately drill-tested. A 600 meter long coincident IP geophysical and soil anomaly between Hercules Ridge and Grade Creek currently represents the largest untested soil anomaly on the Property, with values consistently exceeding 1 ounce per ton silver (35 ppm). Finally, the new high-grade soil discovery 2.6 kilometers southeast of Belmont brings the total target strike length on the Property to 5.5 kilometers and demonstrates the significant scale of silver mineralization at Hercules.
The 2021 and historical soil programs cover areas disturbed by previous exploration and mining activities; and as a result, some values may be upgraded or downgraded in these areas to an extent which is difficult to quantify. Silver geochemical values from the 2021 survey range from nil to a high of 305 ppm. The table set forth on the following page highlights some of the select historical and 2021 soil samples returned from the Project.
Table 1 – Select High-Grade Soil Sample Values
NR = No Assay Reported. Historical Sample
In addition to the strong silver values ranging up to 8.9 troy ounces per ton (305 ppm), the 2021 soils also contain high values of zinc up to 20,470 ppm (~2%), lead up to 8,260 ppm (~0.8%), manganese up to 38,571 ppm (~3.9%), copper up to 3,175 ppm (~0.32%), and molybdenum up to 38 ppm, spanning a total strike length of 5.5 kilometers, and highlighting the large and high-grade nature of the carbonate replacement deposit (CRD) style mineralization at the Project. The closest analogy to the style of mineralization is the Hardshell deposit, part of the Hermosa-Taylor CRD deposit in Arizona . This asset was purchased in 2018 by South32 Limited from Arizona Mining Corp. in a cash deal valued at C$2.1 billion .
High-Grade Silver in Soil Values Confirmed
Strong silver-lead-zinc values reported in historical soil samples between the Belmont and Grade Creek Zones on the Property, which reach up to 605 ppm silver (17.6 troy ounces per ton) in soil have now been confirmed by the Company. The 2021 regional geochemical survey overlaps the historical grid area and confirms the high-grade values reported historically, with 20 soil samples grading over one troy ounce per ton (35 ppm) and 96 samples grading over 10 ppm in soil. Where they overlap, the program results for silver, lead and zinc were compared with a Micromine TM paired data analysis, producing scatterplots that demonstrate comparable results in each campaign. While the expected and actual variances of individual samples is high, anomaly contours separately generated with each campaign are also broadly coincident.
Figures 1-4 illustrate the combined historical and 2021 sample results for silver, lead, zinc and manganese. The favourable rhyolite host unit responsible for the strong soil grades remains open under cover in both directions, with a major new discovery of outcropping rhyolite now revealed 2.5 kilometers to the southeast, where erosion has partially removed the overlying basalt cover.
Hercules Rhyolite Extension Discovered 2.5 Kilometers to the Southeast
Silver-lead-zinc-manganese mineralization has previously been defined as far southeast as the Belmont Zone, which returned historical drill intercepts of up to 62.5 meters of 70.1 ppm silver and 0.14% zinc in hole 84-4. A north-south trending zone of mineralization was discovered in the final two years of historical drilling at the Belmont Zone in 1983 and 1984. Despite strong silver intercepts in the discovery holes, depressed silver prices at the time precluded any further drilling. The best soil anomaly at Belmont South remains untested, including both historical and 2021 soil sample values grading up to 165 ppm, 168 ppm, 224 ppm, 305 ppm, and 604 ppm (~17.6 ounces per ton in soil).
Southeast of the Belmont Zone, post-mineral cover had precluded any further exploration drilling along strike. However, in late 2021, a reconnaissance soil sampling line detected the geochemical signature of the favourable host rhyolite, with high-grade lead-zinc-manganese. This is approximately 2.5 kilometers to the southeast of Belmont . The new discovery is exposed only by a small and discrete erosional window through the basalt, which went completely undetected by all previous workers. Soil samples over the new discovery returned zinc values of up to 20,470 ppm (~2%), lead up to 8,260 ppm (~0.8%), silver up to 1.8 ppm and manganese up to 20,501 ppm (~2%), evidencing the characteristic rhyolite-hosted CRD style signature of mineralization on the Property. The discovery adds a minimum of 2.5 kilometers of completely untested strike and likely continues well southeast from its discrete surface exposure.
Best Target on the Property at Grade Creek Remains Untested
The Grade Creek target is situated in the north of the project area where the Hercules Rhyolite dips below the overlying Brownlee sedimentary rock cover. Some of the strongest silver-in-soil grades on the Property occur at Grade Creek, ranging up to 130 ppm with 14 samples over 50 ppm silver-in-soil. New sampling also returned the strongest zinc value ever taken from a soil sample on the Property, returning 28,230 ppm (~2.8%) zinc. Grade Creek also returned the highest manganese value of 38,571 ppm (~3.9%), as well as lead values of up to 5,200 ppm (~0.52%) and copper values of up to 1,200 ppm (0.12%), all of which are closely associated with silver mineralization on the Property. The new sampling demonstrates that the strongest soil grades and best targets on the Property remain to be tested. The Hercules Rhyolite is open to the northeast of Grade Creek, where it trends under Brownlee sedimentary rock cover.
Samples were collected at 50-meter grid spacings over areas of known mineralization and 100-meter spacings outside of that. Reconnaissance style traverses were also conducted at 100-meter sample spacings in further reaching areas of the Property. Samples were collected with the use of dutch soil augers, with an effort made to consistently sample the same B horizon material at each sample site. The B horizon typically occurs at approximately 10-30 centimeters depth on the Property and is composed of silt-size material with elevated levels of clay and iron and manganese oxyhydroxides. The B horizon soil is known to preferentially adsorb trace metals such as silver, lead and zinc and is often the preferred sample media in mineral exploration surveys. Following collection, the samples were bagged, dried and shipped to MSA Labs in Langley, BC for analysis.
All soil samples were prepped and analyzed at MSA Labs laboratory in Langley, B.C. MSA Labs inserts internal quality control standards, duplicates and blank samples at set frequencies. Samples were dried and sieved to -180 micron (80 mesh). Following preparation, soil assays were determined by IMS-131 method. A 25g aliquot of the prepared pulp is cold digested with HNO3, then HCl is added and the sample is heated at 130˚C for 40 minutes. Digestion is carried out in disposable plastic bottles to eliminate cross-contamination from digestion vessels and heated via graphite block for even heating. The resulting solution is analyzed via ICP-MS and ICP-AES for 51 elements and is corrected for inter element spectral interferences.
The scientific and technical information in this news release has been reviewed and approved for disclosure by Donald E. Cameron , MSc, a Registered Member of the Society for Mining. Metallurgy and Exploration, Inc., a QP Member of the Mining & Metallurgical Society of America and an independent "Qualified Person" for Bald Eagle within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). To the best of his knowledge, the technical information pertaining to the Hercules Silver Property, and discussion of it as disclosed in this news release is neither inaccurate nor misleading. Some of the technical information presented in this news release was collected prior to enactment of NI 43-101 and comprises paper records maintained by various companies that conducted exploration work on the Property. Details of the geochemical sampling methods, security, assaying, and quality control methods used in the generation of this historical technical data are unknown to Bald Eagle Gold Corp.; however, in Mr. Cameron's opinion, the historical geochemical sampling results are verified by the Bald Eagle Gold Corp. sampling program for the purposes of National Instrument 43-101.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho . The Company's management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. The board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States . Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
This news release contains certain information that may be deemed "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes 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.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work; risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits; the possibility that results will not be consistent with the Company's expectations; as well as other assumptions, risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company's public disclosure documents filed on the SEDAR website at www.sedar.com .
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF BALD EAGLE AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE BALD EAGLE MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
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 press release.
SOURCE Bald Eagle Gold Corp.
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Bald Eagle Gold Corp. (TSXV: BIG) (OTCBQ: BADEF) (" Bald Eagle " or the " Corporation ") is pleased to announce today that it has filed on SEDAR a technical report (the " Technical Report ") pursuant to National Instrument 43-101 Standards of Disclosure for Mineral Projects (" NI 43-101 ") for its Hercules Silver Project located within the under-explored Cuddy Mountain mining district in West Central Idaho.
The Technical Report, titled "Technical Report for the Hercules Silver Project, Washington County, Idaho , USA" was independently prepared for Bald Eagle by Mr. Donald E. Cameron , P.Geo, LG, SME-RM of Cameron Resource Consulting, LLC, an independent and "Qualified Person" under NI 43-101 (the " Author "). The Technical Report is dated February 9 th , 2022, with an effective date of November 15, 2021 , and has been filed on the Corporation's profile on SEDAR at www.sedar.com and is also available on Bald Eagle's website at www.baldeaglegold.com .
Chris Paul , CEO of Bald Eagle, commented: "We are pleased to have published a Technical Report on our newly acquired Hercules Silver project in Idaho . This Technical Report is the culmination of many months of digitization and in-depth research, involving the review of several hundred historical reports on the project. This report, which was prepared by Mr. Donald E. Cameron , P.Geo, LG, SME-RM, provides a comprehensive overview of all aspects of the project. We encourage all interested investors who would like to learn more about the project and its history to download the report which is now available on SEDAR."
The technical information contained in this news release was reviewed and approved by Mr. Donald E. Cameron, P.Geo, LG, SME-RM of Cameron Resource Consulting, LLC (CRC), a "Qualified Person" as defined by NI 43-101. Mr. Cameron has 45 years of experience working in exploration and mining of precious and base metals on five continents. He has served in the capacity of Chief Geologist at the Cannon Mine for Asamera Minerals, Inc., Chief Geologist for Hecla Mining Company, Chief Geologist-- Operations for Bema Gold Corp. and as Director of Technical Services, Russia and South America for Kinross Gold Corp. Since 2011, Mr. Cameron has carried out diverse assignments for several junior and major companies, including district mapping, drill planning, resource estimation, audit and due diligence, and ongoing support for new small and major mines through his company, CRC. Through CRC, he is the developer of the StopeCalc TM app for underground mine grade control.
Neither the TSX Venture Exchange (the "TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining corporation focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho . The Corporation's management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. The board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets. From time to time, the Corporation may also evaluate the acquisition of other mineral exploration assets and opportunities.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States . Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.
ON BEHALF OF THE BOARD OF DIRECTORS
Peter Simeon Chairman of the Board & Director
SOURCE Bald Eagle Gold Corp.
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Bald Eagle Appoints Chris Paul as Chief Executive Officer, Antoine Soucy-Fradette as Vice President of Exploration and Peter Simeon as Chairman of the Board
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TORONTO , Jan. 25, 2022 /CNW/ Bald Eagle Gold Corp. (" Bald Eagle " or the " Corporation ") (TSXV: BIG) (OTCBQ: BADEF) announces the appointment of Christopher Paul as Chief Executive Officer of the Corporation. Mr. Paul holds a B.Sc. in Geology from Simon Fraser University and a Diploma in Mining & Mineral Exploration Technology from the British Columbia Institute of Technology. He is the Principal and Founder of Ridgeline Exploration Services, a technical services company which was acquired by Goldspot Discoveries Corp. in 2021. Raymond Harari will step down as Chief Executive Officer and will continue as President of the Corporation.
In addition, Antoine Soucy-Fradette has been appointed as VP Exploration of the Corporation. Antoine holds a B. Eng. In Geological Engineering from Laval University and brings strong precious metals experience to the Company, with previous success ranging from Greenfields to Brownfields exploration projects throughout Quebec , Ontario , the Yukon Territories and British Columbia . Antoine was fundamental in the exploration, development, and advancement of the Bralorne Gold Project in British Columbia , with resources of over half a million ounces of gold.
Chris Paul stated: "I'm very excited to be joining Bald Eagle's management team, alongside Antoine Soucy-Fradette as we look to lead the exploration and development of the Company's newly acquired Hercules Silver project in Idaho . The recent acquisition gives the Company strong leverage to a rising silver price environment at a time when inflation is forecasted to remain high for the foreseeable future. Idaho was ranked 9 th in the world in the Fraser Institute's Mining Attractiveness Index and #1 in the Policy Perception Index. Bald Eagle is uniquely positioned with 100% ownership in one of the few pure-play silver projects available on the market. The project's strong historic results and politically favourable location provide a rare opportunity, of which I am very excited to be a part of."
Furthermore, Peter Simeon , a current director of the Company, has been appointed Chairman of the Board.
The Corporation also announces the grant of 1,700,000 restricted share units (" RSUs ") to a senior officer of the Corporation pursuant to the Corporation's restricted share unit plan which was approved by shareholders on February 12, 2021 (the " RSU Plan "). The RSUs will vest immediately. Upon vesting, the RSUs entitle the holder to payment in cash or common shares in the capital of the Corporation, or a combination thereof, in accordance with the RSU Plan.
The Corporation also announces the grant of 1,200,000 incentive stock options (" Options ") to an officer of the Corporation pursuant to the Corporation's incentive stock option plan which was approved by shareholders on February 12, 2021 (the " Option Plan "). Twenty-five per cent (25%) of the Options will vest in six (6) months and 25% every six (6) months thereafter
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho . The Company's management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. The board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets. From time to time, the Company may also evaluate the acquisition of other mineral exploration assets and opportunities.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States . Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information in this press release may include, without limitation, the vesting of RSUs and Options and the business and strategic plans of Bald Eagle.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Bald Eagle, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Bald Eagle 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, estimated or intended. 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 statements. Accordingly, readers should not place undue reliance on forward-looking information. Bald Eagle does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE Bald Eagle Gold Corp.
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Bald Eagle Gold Corp. (" Bald Eagle " or the " Corporation ") (TSXV: BIG) (OTCQB: BADEF) announces today that Mr. Sidney Himmel has resigned from the board of directors of the Corporation in order to pursue other interests. The board has accepted his resignation. The Corporation thanks Mr. Himmel for his valuable contributions and wishes him great success in his future endeavors.
As a result of these announced changes, the Board will be composed of Raymond D. Harari , Darren Collins , Peter Simeon , Nicholas Tintor and Christopher Paul . The senior operating executives of the Company will be Mr. Raymond D. Harari as Chief Executive Officer and President and Darren Collins as Chief Financial Officer.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho . The Company's management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. The board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets. From time to time, the Company may also evaluate the acquisition of other mineral exploration assets and opportunities.
ON BEHALF OF THE BOARD OF DIRECTORS
Raymond D. Harari CEO, President & Director
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Bald Eagle Gold Corp.
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Bald Eagle Gold Corp. (" Bald Eagle " or the " Company ") (TSXV: BIG) (OTCQB: BADEF) is pleased to announce that the Company has appointed Mr. Darren Collins the Chief Financial Officer of the Company to the board of directors of the Company (the " Board "). In addition, Mr. Marc-André Lavoie has resigned from the Board. The Board thanks Mr. Lavoie for his service as a director.
As a result of these announced changes, the Board will be composed of Sidney Himmel , Raymond Harari , Darren Collins , Peter Simeon , and Nicholas Tintor . The senior operating executives of the Company will be Mr. Raymond Harari as President, Sidney Himmel as Executive Chairman and Darren Collins as Chief Financial Officer.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of advanced exploration assets in known precious metals districts in the Americas. The Company's objective is to acquire advanced exploration projects for exploration and development. Advancing acquired properties will be through evaluating historical data and utilizing modern exploration techniques and geological concepts. The management team and board of directors of the Company have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.
ON BEHALF OF THE BOARD OF DIRECTORS
Raymond Harari President & Director
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SOURCE Bald Eagle Gold Corp.
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Bald Eagle Gold Corp. (" Bald Eagle " or the " Company ") (TSXV: BIG) (OTCBQ: BADEF) announces that, further to the Company's press release dated October 4, 2021 the Company, has completed the transaction (the " Transaction ") involving the assignment of its 50% joint venture interest in certain unpatented mineral claims and leases in Nevada forming the Hot Springs property (the " Hot Springs Property ") to Huizenga Exploration Group, LLC (" HEG ").
Pursuant to the terms of the Transaction, the Company received USD$1,270,000 in cash.
Mr. Raymond Harari , President and Director, commented: "We are pleased to have successfully completed the divestment of our position in the Hot Springs Property, bringing in significant non-dilutive capital, which will enable us to undertake an exploration program in the recently acquired Hercules property. The completion of this Transaction is another step towards pivoting to our prospective silver property in Idaho ."
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of advanced exploration assets in known precious metal districts in the Americas. The Company's objective is to acquire advanced exploration projects for exploration and development. The Company intends to, through evaluating historical data and utilizing modern exploration techniques and geological concepts enhance resources. The management team and board of directors of the Company have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States . Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information in this press release may include, without limitation, the future operating or financial performance of Bald Eagle.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Bald Eagle, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Bald Eagle 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, estimated or intended. 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 statements. Accordingly, readers should not place undue reliance on forward-looking information. Bald Eagle does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE Bald Eagle Gold Corp.
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Challenger Exploration (ASX: CEL) (“CEL” the “Company”) is pleased to announce results from recent drilling targeting extensions to the mineralisation at the Company's flagship Hualilan Gold Project, in San Juan Argentina. The results include the first drill holes that were not included in the Company’s recent maiden 2.1 million ounce AuEq1 Mineral Resource Estimate (MRE) which includes a high-grade core of 1.1 Moz at 5.6 g/t AuEq1 .
Commenting on the first drilling results after the resource, CEL Managing Director, Mr Kris Knauer, said
“We indicated when we released our Maiden Resource Estimate at Hualilan it was very much an interim and we expect it to increase significantly. It was based on 126,000 metres of our 204,000 metre drill program and 2.2 of the 3.5 kilometres of strike, over which the high-grade mineralisation has been intersected. These first results following the Mineral Resource Estimate confirm this.
All the more exciting, is that if assays confirm what we have logged in several recent holes, we have some significant new zones to follow up in addition to the areas we are currently targeting. It now firmly appears that mineralisation at Hualilan will remain open at the end of the current 204,000 metre program."
The MRE was based on 125,700 metres of the Company's 204,000 metre diamond core drill program. The current holes that were not included in the MRE comprise an additional 13,800 metres of drilling. As of this morning the Company has completed 197,000 of the 204,000 metres with results for the next 64,500 metres in the 204,000 metre program expected progressively over the next 4 months.
The results continue to exceed the Company's expectations and confirms that mineralisation remains open in all directions, the majority of the new mineralisation is high-grade, and there is clear potential for the MRE to grow significantly via extension and infill drilling. Several recently completed holes (assays pending) have opened new high-grade targets for extension drilling and the Company believes that Hualilan will remain open in all directions at the completion of the current 204,000 metres.
In addition to the strong results from drilling designed to extend the mineralisation outside the interim MRE boundary several infill holes, often between holes with minimal grade, have returned significant high grade results which is enormously encouraging.
SIGNIFICANT INTERSECTIONS RECEIVED AFTER THE MRE CUT-OFF DATE
GNDD-530 - Verde Zone (South of the Magnata Fault)
GNDD-530 was a test for extensions of the Verde style mineralisation, south of the Magnata Fault, at depth. The hole was collared to test 80 metres below GNDD-500 which intersected 67.6 metres at 0.3 g/t AuEq from 81.5m and 40.0 metres at 0.8 g/t AuEq from 267.0m. GNDD-530 intersected three zones of mineralisation - 28.5 metres at 5.3 g/t AuEq (5.0 g/t Au, 23.9 g/t Ag, 0.02 % Pb, 0.03 % Zn) from 357.5m, 23.0 metres at 0.3 g/t AuEq (0.3 g/t Au, 1.2 g/t Ag, 0.01 % Pb, 0.02 % Zn) from 107.0m, and 54.0 metres at 0.4 g/t AuEq (0.3 g/t Au, 2.0 g/t Ag, 0.01 % Pb, 0.06 % Zn) from 159.0m.
All three intersections extended the mineralisation 80 metres down dip of the current MRE boundary with the deepest intersection (28.5m at 5.3 g/t AuEq) demonstrating significantly improved grades at depth which is becoming common in the Verde Style mineralisation at depth. The second intersection (54.0m at 0.4 g/t AuEq) significantly expanded the width of the mineralisation.
Figure 1 shows the MRE block model in section and GNDD-530. On this section the mineralisation below the US$1800 optimised pit shell was not included in the MRE as it has a grade of less than the 1.0 g/t AuEq cut off used for reporting the underground component of the MRE. This area of the MRE is relatively lightly drilled with additional drilling planned along strike and both up and down-dip. The higher grade mineralisation intersected at depth in GNDD-530, and any additional high-grades in infill and extensional drilling, has the potential to significantly deepen the US$1800 optimised pit shell which would provide a material increase to the current MRE.
Figure 1 - Cross Section GNDD-530
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Global central bank gold reserves top 35,500 metric tons (MT), approximately one-fifth of all the gold ever mined. The vast majority of central bank gold holdings were acquired in the last decade, when national banks became net buyers of the yellow metal.
Central banks purchase gold for a number of reasons: to mitigate risk, to hedge against inflation and to promote economic stability. In its most recent annual survey released in June 2022, the World Gold Council (WGC) said that 61 percent of central bankers expect global gold reserves to increase over the next 12 months. Nearly three-quarters of respondents cited the precious metal’s “long-term store of value” as a guiding factor in gold purchases.
Central banks added 463 MT of gold to their vaults in 2021, signaling a significant turnaround in demand after the 255 MT decade low experienced in 2020.
Central bank gold buying expected to increase in 2022.
Central banks are expected to continue as net gold buyers in 2022. Twenty-five percent of WGC 2022 survey respondents indicated plans to grow their gold reserves, up from 21 percent last year. And for the second year in a row, no respondents indicated their institution plans to decrease their gold holdings.
However, the WGC did note that economic and geopolitical uncertainty tied to the COVID-19 pandemic and Russia’s war in Ukraine may be creating a “divide between central bank respondents in advanced economies and those in Emerging Market and Developed Economies.”
Read on to find out the 10 top countries by central bank gold holdings. All reserve tallies were compiled using data from the WGC.
When it comes to the largest gold reserves, the Central Bank of America comes in at number one with 8,133.5 MT. Valued at US$528 billion, a large percentage of US gold is held in “deep storage” in Denver, Fort Knox and West Point.
As the US Treasury explains, deep storage is “that portion of the US Government-owned gold bullion reserve which the Mint secures in sealed vaults that are examined annually by the Treasury Department’s Office of the Inspector General and consists primarily of gold bars.”
The rest of US-owned reserves are held as working stock, which is described as the “gold reserve which the Mint uses as the raw material for minting congressionally authorized coins and consists of bars, blanks, unsold coins and condemned coins.”
The Bundesbank, Germany’s central bank, currently owns 3,358.5 MT of gold, less than half the amount amassed by the US. Like many of the central banks on this list, the German national bank stores more than half of its stock in foreign locations in New York, London and France.
The Bundesbank’s foreign gold reserves came into question in 2012, when the German Federal Court of Auditors, the Bundesrechnungshof, was openly critical of the Bundesbank’s gold auditing.
In response, the German bank issued a public statement defending the security of foreign banks. Privately, the Bundesbank then began the arduous process of repatriating its gold stock back to German soil. By 2016, more than 583 tonnes had been transferred back to Germany.
Nearly half of Germany’s gold holdings are stored in Frankfurt, more than a third in in New York, an eighth of holdings are in London and a miniscule amount are held in in Paris.
Banca d’Italia, the national bank of Italy, began amassing its gold in 1893, when three separate financial institutes merged into one. From there, its 78 MT slowly grew into the 2,451.84 MT the country now owns.
Like Germany, Italy also stores parts of its reserves offshore. In total, 141.2 MT are located in the UK, 149.3 are in Switzerland and 1,061 are kept in the US Federal Reserve.
The Banque de France keeps all 2,436.5 MT of its gold reserves on hand. The precious metal is stored in the bank’s secure underground vault, dubbed La Souterraine; it is located 27 meters below street level.
La Souterraine’s gold vaults are one of the 4 designated gold depositories of the International Monetary Fund.
The Bank of Russia is the official central bank of the Russian Federation and owns 2,301.64 MT of gold. Like France, Russia’s central bank has opted to store all its physical gold domestically.
The Bank of Russia stores two-thirds of its gold reserves in a bank building in Moscow, and the remaining one-third in Saint Petersburg.
The majority of the yellow metal is in the form of large, variable-weight standard gold bars weighing between 10 and 14 kilograms. There are also smaller bars on site weighing as much as 1 kilogram each.
Russia, which is the third largest gold producer by country, has been a steady purchaser of the precious metal since roughly 2007, with sales ramping up significantly between 2015 and early 2020. However, the Russia’s refineries are banned from selling gold bullion into the London market following the country’s invasion of Ukraine. Sanctions by the West also include a freeze on about half of Russia’s gold reserves.
The central bank for mainland China is the People’s Bank of China (PBoC), located in Beijing. The national financial institute stores 1,948.31 MT of gold, most which has been purchased since 2000. In 2001, the PBoC had 400 MT of gold in reserve, but in less than two decades that total has climbed 487 percent.
The PBoC also issues the Panda gold coin, which was first created in 1982. The Panda coin is now one of the top five bullion coins issued by a central bank. It is among the ranks of the American Eagle, Canadian Maple Leaf, South African Krugerrand and Australian Gold Nugget.
Holding the seventh largest central bank gold reserves is the Swiss National Bank. Its 1,040 MT of gold are owned by the state of Switzerland, but the central bank manages and maintains the reserve.
After years of opaqueness regarding the country’s golden treasure trove, the Swiss Gold Initiative, or Save our Swiss Gold campaign, was launched in 2011.
The publicity culminated in a national referendum in 2014, asking citizens to vote on three proposals.
The first was a mandate for all reserve gold to be held physically in Switzerland. The other two dealt with the central bank’s ability to sell its gold reserves, along with a decree that 20 percent of the Swiss bank’s assets be held in gold.
The referendum was unsuccessful, but did prompt the bank to be more transparent. In a 2013 release, the central bank reported that 70 percent of its gold reserve was held domestically, 20 percent was located at the Bank of England and 10 percent was stored with the Bank of Canada.
Public information about the Bank of Japan’s gold reserves is hard to come by. In 2000, the island nation was holding approximately 753 MT of the yellow metal. By 2004, the Bank of Japan’s gold store had grown to 765.2 MT, and remained at that level until March 2021 when the country purchased 80.76 MT of gold.
The Reserve Bank of India (RBI) is another central bank on the list that has added to its holdings in recent years. The RBI began adding to its gold assets in 2017; however, the majority of its purchases have taken place in the past two years.
“While 453.52 tonnes of gold is held overseas in safe custody with the Bank of England and the Bank of International Settlements (BIS),” reported Business Standard, “295.82 tonnes of gold is held domestically.”
Rounding out the top central bank gold reserves by country is the Dutch National Bank (DNB), the central bank of Netherlands.
Like Switzerland, the Dutch central bank stores as much as 38 percent of its gold in Canada’s national reserve. Another 31 percent, in the form of 15,000 gold bars, is held in a domestic vault, while the remaining 31 percent is located in New York’s Federal Reserve bank.
In a report, the Dutch National Bank notes that gold’s aversion to risk and reduced liability makes it the supreme safe haven asset.
“Central banks such as DNB have therefore traditionally had a lot of gold in stock. After all, gold is the ultimate nest egg: the trust anchor for the financial system,” it reads. “If the entire system collapses, the gold supply provides collateral to start over. Gold gives confidence in the strength of the central bank’s balance sheet. That gives a safe feeling.”
The gold reserve held by the International Monetary Fund (IMF) is the third largest in terms of size. The large gold reserve was amassed primarily during the founding of the international organization in 1944.
In that inaugural year it was decided that “25 percent of initial quota subscriptions and subsequent quota increases were to be paid in gold.”
Since 1944, the IMF has also added gold through the repayment of debts owed by member countries. Nations can also exchange gold for another member country’s currency.
This is an updated version of an article first published by the Investing News Network in 2020.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
White Gold CEO David D'Onofriowww.youtube.com
White Gold (TSXV:WGO,OTCQX:WHGOF,FWB:29W) maintains its robust portfolio of gold projects in Yukon. White Gold CEO David D’Onofrio said the company has been significantly successful with a 1.1 million ounce gold resource.
“We've been very successful in our total ounces, pretty significantly," D’Onofrio said. "We're at 1.1 million ounces now. And that's not including a couple of very exciting new discoveries 2 kilometers away from that deposit. For the last two years, we've been looking for new zones of mineralization around our flagship deposit. We (want to get) the best bang for our buck as a junior explorer.”
White Gold made a new high-grade discovery after it intersected 6.94 grams per metric ton (g/t) gold over 19.5 meters and 1.36 g/t gold over 18.5 meters at the Ulli's Ridge target at the Golden Saddle and Arc deposits. The two projects have a combined mineral resource of 1,139,900 ounces.
D’Onofrio added that the company can really ramp up quickly in terms of size and has been very successful in doing that with two new discoveries. “We can get excited going forward considering we have this drone-to-drill methodology. Over the last five years, we're starting to drone the soil with identifying targets. And we've started to perform a diamond drill program on these targets.”
Last year, White Gold had a truly world-class discovery at its Betty property, according to D’Onofrio. The property is contiguous to Newmont’s (TSX:NGT,NYSE:NEM) multimillion-ounce Coffee deposit.
“We're more of a data analysis company that performs exploration," he said. "We're putting them through this protocol designed over the last 20 years. It's proven to be extremely successful. We think what we're seeing in these earlier-stage results is that the prospect for more and more multimillion-ounce hybrid discoveries is very high in our district.”
Watch the full interview of White Gold CEO David D’Onofrio above.
Disclaimer: This interview is sponsored by White Gold (TSXV:WGO,OTCQX:WHGOF,FWB:29W) . This interview provides information that was sourced by the Investing News Network (INN) and approved by White Gold in order to help investors learn more about the company. White Gold is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with White Gold and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
Adrian Day: Recession, Stagflation, Crash? Where We're Going, What it Means for Goldyoutu.be
The US Federal Reserve hiked interest rates by 75 basis points last week in its ongoing fight against inflation, amping up its efforts to tame prices and leaving market watchers wondering what's next.
Speaking just ahead of the central bank's meeting, Adrian Day, president of Adrian Day Asset Management, said usually the Fed starts out hawkish and then backs off. But this time around the opposite is happening.
This is due to various factors, but US President Joe Biden's recent meeting with Fed Chair Jerome Powell is among them — in their discussion, Biden expressed that inflation is the Fed's responsibility.
"If you've just had a meeting with the president where he has told you — and then announced to the world — that inflation is your number one priority and you're responsible, you continue to be hawkish. And I think that's got the market really nervous," Day said at the Prospectors & Developers Association of Canada (PDAC) convention.
Day doesn't think the Fed will be able to bring inflation down to a reasonable level without provoking a recession, and noted that if the market isn't already in one now, it will get there by the end of the year.
A recession combined with high prices results in stagflation, and Day said that looking at stagflationary periods from 1960 to now shows that energy and gold are top performers during these times.
"The number one performing asset has been energy, and the number two performing asset has been gold," he explained on the sidelines of the show. "Gold and gold stocks have done well in every single stagflationary period, so I think gold is really where you want to be positioned if you see stagflation coming."
Watch the interview above for more from Day on gold and the outlook for the US economy. You can also click here for our recap of PDAC, and here for our full PDAC playlist on YouTube.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Dr. Georg Josef Pollert (the "Acquiror"), a director of Blue Star Gold Corp. (the "Company") announces that, on June 23, 2022, he has acquired ownership of 3,077,000 common shares in the capital of the Company ("Shares") at a price of $0.65 per Share. The Shares were issued in connection with the closing of a non-brokered private placement carried out by the Company (the "Private Placement").
Prior to the acquisition of Shares under the Private Placement, the Acquiror held 24,284,961 Shares, 200,000 Stock Options and 1,250,000 Share Purchase Warrants and the Acquiror's non-diluted shareholdings represented approximately 45.7% of the Company's issued and outstanding Shares.
As a result of the acquisition of Shares under the Private Placement, the Acquiror now holds 27,361,961 Shares, 200,000 Options and 1,250,000 Warrants. The Acquiror's non-diluted shareholdings now represent approximately 45.5% of the Company's issued and outstanding Shares.
Thus on a partially diluted basis (i.e., assuming full exercise of all Warrants and Options and no other issuances of Shares by the Company), the Acquiror would hold a total of 28,811,961 Shares, representing approximately 46.7% of the Company's issued and outstanding Shares.
To obtain a copy of the early warning report filed by the Acquiror, please contact the Acquiror at 011.49.172.946.1380 or refer to the Company's SEDAR profile at www.sedar.com.
Click here to connect with Blue Star Gold Corp. (TSXV: BAU)(FSE: 5WP0)(OTCQB: BAUFF) to receive an Investor Presentation
B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) ("B2Gold" or the "Company") is pleased to announce the voting results from its Annual General and Special Meeting of Shareholders (the "Meeting") held on Wednesday, June 22, 2022 . A total of 812,572,340 common shares were voted at the Meeting, representing 76.59% of the votes attached to all outstanding common shares.
Shareholders voted overwhelmingly in favour of all items of business before the Meeting. The nine director nominees listed in B2Gold's Management Information Circular ("the "Circular") dated May 11, 2022, were elected as directors of B2Gold to hold office for the ensuing year or until their successors are elected or appointed. Detailed results of the vote for each director are set out below:
The resolutions to set the number of directors of the Company at nine and to appoint PricewaterhouseCoopers LLP as auditor of the Company were approved with 99.65% and 99.47%, respectively, of votes cast in favour.
The resolution regarding the Advisory Vote on Company's approach to Executive Compensation was approved with 80.36% of votes cast in favour.
A report on all items of business voted on at the Meeting will be filed on SEDAR at www.sedar.com .
A playback of the Meeting will be available until Wednesday, July 6, 2022 , on B2Gold's events page or by dialing +1 416-764-8677 (local – Toronto) or +1 888-390-0541 (toll free – North America) (passcode 420261#).
B2Gold is a low-cost international senior gold producer headquartered in Vancouver, Canada . Founded in 2007, today, B2Gold has operating gold mines in Mali , Namibia and the Philippines and numerous exploration and development projects in various countries including Mali , Colombia , Finland and Uzbekistan .
On Behalf of B2GOLD CORP. "Clive T. Johnson" President & Chief Executive Officer
For more information on B2Gold, please visit the Company's website at www.b2gold.com or contact:
Randall Chatwin SVP, Legal & Corporate Communications
Cherry DeGeer Director, Corporate Communications +1 604-681-8371 cdegeer@b2gold.com
The Toronto Stock Exchange and NYSE American LLC neither approve nor disapprove the information contained in this news release.
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