Increased Oxide Gold Resource At The Darkstgr Deposit

VANCOUVER, BC – Gold Standard Ventures Corp. reported an updated National Instrument (NI) 43-101-compliant resource estimate for its Dark Star gold deposit on its 100%-owned/controlled Railroad-Pinion Project in Nevada’s Carlin Trend. The estimate was prepared by APEX Geoscience Ltd. of Edmonton, Canada.

In its summary report, APEX estimates an Indicated Mineral Resource of 15.38 million tonnes grading 0.54 grams per tonne (g/t) gold (Au), totaling 265,100 ounces of gold, and an Inferred Resource of 17.05 million tonnes grading 1.31 g/t Au, totaling 715,800 ounces of gold, using a cut-off grade of 0.20 g Au/t (Table 1). A sensitivity analysis of the grade and tonnage relationships at a variety of cutoff grades.

Jonathan Awde, CEO and Director of Gold Standard commented: “Our discovery of North Dark Star in 2015 has made an important tonnage contribution to this resource estimate at a very desirable grade. We are very confident that this estimate will grow with this year’s aggressive drill program.”

Key Highlights: Indicated Mineral Resource of 265,100 troy ounces of gold contained in 15.38 million tonnes at an average grade of 0.54 g Au/t (at a lower cutoff of 0.20 g Au/t). This is the first Indicated Mineral Resource at the Dark Star deposit. A portion of the Indicated Mineral Resource crops out at surface; Inferred Mineral Resource of 715,800 troy ounces of gold contained in 17.05 million tonnes at a capped grade of 1.31 g Au/t (at a lower cutoff of 0.20 g Au/t), up 93% over the 2015 maiden Inferred Mineral Resource; The North Dark Star discovery and the Dark Star Main maiden resource are connected and form a continuous gold zone with a strike length of approximately 1300m; Both North Dark Star and Dark Star Main are included in this resource estimate and are referred to as a single deposit, “Dark Star.” The Indicated resource is from the former Main Dark Star deposit which has a greater density of drilling while the Inferred resource estimate is largely from the former North Dark Star deposit discovered more recently; Gold mineralization remains open in multiple directions. Excellent potential exists for expansion of the resource along geologic controls identified during the modeling of the deposit. Approximately 12,600m of drilling will be completed in 2017 to further expand the oxide resource; The Dark Star resource estimate includes only material amenable to cyanide leaching. Drilling has encountered small zones of sulfide mineralization that are not included in the resource estimate; The reported resources have been constrained within an optimized pit shell at $US1,250/ounce of gold, consistent with resource disclosure by major companies; The resource estimate is based on 135 reverse circulation (RC) holes and 23 core holes; Due to the good lateral continuity of the gold zone and geologic controls modeled from oriented core, the potential to convert inferred resources to indicated resources with future drilling is considered high; The gold resource is hosted in Pennsylvanian-Permian collapse brecciated debris flow conglomerate and bioclastic limestone that is oxidized, decalcified, variably silicified. These sedimentary rocks are cut by thin rhyolite dikes and sills, part of a north-striking zone of faults, igneous rocks, and silicification that runs along the east side of the Pinon range that is referred to as the Dark Star Corridor and the Company recently received a Finding of No Significant Impact and Decision Record from the U.S. Bureau of Land Management for the South Railroad Exploration EA. The EA covers approximately 12 square miles and provides the Company with up to 250 acres of new disturbance. Gold Standard will bond for Phase 1 now which is 100 acres of disturbance.  The EA will allow the Company to continue to explore high priority targets at Dark Star, the Dark Star Corridor and Pinion.

High Grade In Final PFS Drill Holes

WINNEMUCCA, NV – Paramount Gold Nevada Corp. reported that all of the the final eight holes drilled at its Grassy Mountain Project in Nevada, intersected excellent gold grades, confirming the high grade nature of the mineable material for the project.

The 30-hole drill program now completed was a key component of a Preliminary Feasibility Study (“PFS”) which Paramount is undertaking for construction and operation of an underground mine to exploit the high-grade gold core at its Grassy Mountain Project located on private ground in Eastern Oregon.

The PFS drill program was designed with the primary objective of better defining the high-grade core for underground mining. Secondly, material was recovered in the drill program for additional metallurgical testing and geotechnical data required to optimize precious metal recovery processes and to determine the most efficient mining method. Previous extensive metallurgical testing has demonstrated that a simple gravity circuit followed by leaching yields a 95% recovery of contained gold.

The PFS will also establish the parameters of a mining and milling operation, define capital and operating costs, upgrade resources to reserves and advance the project through the permitting process with the Bureau of Land Management (“BLM”) and Oregon Department of Geology and Mineral Industries (“DOGAMI”). The PFS is scheduled for completion in early 2018.

The eight holes announced today were drilled in the central portion of the deposit to better define the high-grade zone which will be targeted for initial underground production and also to evaluate the lower grade envelope, some of which could be incorporated within the PFS mine plan. All eight holes reported grades consistent with underground mining.

Paramount CEO, Glen van Treek commented: “We are extremely pleased with the outcome of our drill program which has substantially increased our confidence in the Grassy Mountain resource. The drilling has not only confirmed the high-grade nature of the deposit but also generated better than expected grades in many of the drill holes. We therefore expect a positive reserve outcome in the upcoming PFS”.

Renaissance Gold Reports Exploration Progress

WHITE ROCK, BC –  Renaissance Gold Inc. reported exploration progress on several fronts including reverse circulation (“RC”) drilling on the Diamond Point, Spruce East and Buffalo Canyon projects in Nevada, all funded by and subject to earn-in agreements with Kinross Gold U.S.A., Inc. 

Drilling on the Diamond Point project is complete and was designed to target Carlin-style mineralization under shallow cover.  Widely spaced holes were drilled targeting blind mineralization projected beneath pediment from the north striking West fault zone which has a 1.6 km coincident Au and As in soils surface expression.  The program consisted of 6 RC holes, totaling 1,200 meters (3,940 feet).  Assay results are pending.

RC drilling at Spruce East is now underway, targeting Carlin-type gold mineralization approximately 30 miles southwest of Newmont’s recently opened Long Canyon gold mine.  Gold mineralization at Spruce East is associated with north and northeast trending fault zones cutting the east limb of an antiform.  This drill program is targeting extensions of the north trending Cicada fault zone where 6 rock chips of decalcified and locally silicified limestones range from 0.16 to 1.3 ppm Au and are associated with Carlin-type geochemistry.

RC drilling at Buffalo Canyon will test for intrusion-related mineralization laterally and below historic drilling which intercepted long runs of low-grade gold mineralization.  Many historic holes bottomed in anomalous gold.  3-D modeling has been used in conjunction with a magnetic inversion to target feeder structures which may be associated with an underlying intrusive body where higher grades are targeted.

200m x 400m gravity survey was recently completed at the Company’s wholly owned Wood Hills South project.  The gravity data maps a distinct, northeast-trending horst block interpreted to be an upthrown block of carbonate rocks coincident with a magnetic low.  These features occur on a regional NE magnetic trend believed to be associated with intrusive rocks at the nearby West Pequop and Long Canyon gold deposits.

The Company is currently conducting additional gravity and magnetic surveys on other early-stage exploration targets as part of its ongoing target generation efforts.

Robert Felder, President states “We are pleased to see the start of drilling on our projects and look forward to getting a number of targets drilled during the remainder of 2017 and more in 2018.  We are also making good progress on our generative exploration program with the aim to continue generating new high-quality projects while a good portion of our existing portfolio is getting drill tested.”

Ronald Parratt, CEO and Executive Chairman states, “Our integration with Kinetic Gold has progressed seamlessly in terms of people and projects and has accelerated our joint venture business model with several new agreements, active project work, and importantly, new project generation. We are looking forward to a highly productive next 12 months and have activities underway to keep up the momentum well into 2018.”

Drilling Completed At The Bolo Gold Project

VANCOUVER, BC – Columbus Gold Corp. has completed drilling at its 100% owned Bolo gold project located in Nevada. The company has completed 14 reverse circulation drill holes, totaling 2,806 meters, at its 100% owned Bolo gold project, located 90 km northeast of Tonopah, Nevada. Eleven of the holes tested the previously undrilled Uncle Sam patented claim, which was acquired by Columbus in 2016. Uncle Sam covers a 500 meter strike extension of a fault zone immediately south of an area that Columbus previously drilled, which included drill hole BL-38, which returned 133 meters of 1.28 g/t gold from the surface (including 30.5 m. of 3.24 g/t gold), drill hole BL-39, which returned 89.9 meters of 1.0 g/t gold from surface (including 40.9 m. of 2.05 g/t gold), and drill hole BL-41, which returned 51.8 meters of 1.27 g/t gold from surface. Holes BL-38, 39, and 41 were drilled approximately 100 meters north of Uncle Sam. In addition to drilling at Uncle Sam, three holes were drilled in the fault zone to test extensions to the west and north.

Twelve of the fourteen drill holes encountered strong alteration, including decalcification, quartz veining and stockworks, strong iron oxide staining, and intense silicification (jasperoid) replacement. The thickness of the alteration encountered varied from 30 meters to 100 meters, with the alteration beginning at surface in some of the drill holes. Alteration occurred in several Paleozoic rock formations, including the Cambrian Windfall Formation in the hanging wall of the fault, and the Ordovician Hanson Creek Formation and Silurian Roberts Mountain Formation in the footwall.

The last drill hole of the program, drill hole BL-67, was an exploration hole drilled along the fault, 200 meters north of where the majority of drilling has occurred and near an area where a surface sample in jasperoid returned 3.24 g/t gold. Drill hole BL-67, an angle hole, encountered 100 meters of strong alteration, including jasperoid and strong iron oxides, from surface to 100 meters. This hole will require offset drilling, especially to the north along the fault.

All drill samples have been stored in sealed and wire strapped containers in Tonopah. The samples will be shipped to the lab when the spin-out of Allegiant Gold has been completed.

Freeport-McMoRan Reports Second-Quarter Results

PHOENIX, NV Freeport-McMoRan Inc. reported net income attributable to common stock of $268 million for second-quarter 2017 and $496 million  for the first six months of 2017, compared with net losses attributable to common stock of $479 million for second-quarter 2016 and $4.7 billion  for the first six months of 2016. 

North America Copper Mines. FCX operates seven open-pit copper mines in North America – Morenci, Bagdad, Safford, Sierrita and Miami in Arizona, and Chino and Tyrone in New Mexico. In addition to copper, molybdenum concentrate, gold and silver are also produced by certain of FCX’s North America copper mines. All of the North America mining operations are wholly owned, except for Morenci. FCX records its 72 percent undivided joint venture interest in Morenci using the proportionate consolidation method.

Through exploration drilling, FCX has identified a significant resource at the Lone Star project located near the Safford operation in eastern Arizona. Initial production from the Lone Star oxide ores could begin in 2021 using existing infrastructure to replace oxide production from Safford. FCX is seeking regulatory approvals for this project and continues to evaluate longer term opportunities available from the significant sulfide potential in the Lone Star/Safford minerals district.

Molybdenum Mines. FCX has two wholly owned molybdenum mines in North America – the Henderson underground mine and the Climax open-pit mine, both in Colorado. The Henderson and Climax mines produce high-purity, chemical-grade molybdenum concentrate, which is typically further processed into value-added molybdenum chemical products. The majority of molybdenum concentrate produced at the Henderson and Climax mines, as well as from FCX’s North America and South America copper mines, is processed at FCX’s conversion facilities.

Operating and Development Activities. In response to market conditions, the Henderson molybdenum mine continues to operate at reduced rates. Production from the Molybdenum mines totaled 8 million pounds of molybdenum in second-quarter 2017 and 7 million pounds in second-quarter 2016. Refer to summary operating data on page 3 for FCX’s consolidated molybdenum sales, which includes sales of molybdenum produced at the Molybdenum mines, and from FCX’s North America and South America copper mines.

Average unit net cash costs for the Molybdenum mines of $7.81 per pound of molybdenum in second-quarter 2017 approximated second-quarter 2016 costs. Based on current sales volume and cost estimates, unit net cash costs for the Molybdenum mines are expected to average approximately $7.85 per pound of molybdenum for the year 2017.

South America Mining. FCX operates two copper mines in South America – Cerro Verde in Peru (in which FCX owns a 53.56 percent interest) and El Abra in Chile (in which FCX owns a 51 percent interest). These operations are consolidated in FCX’s financial statements. In addition to copper, the Cerro Verde mine produces molybdenum concentrate and silver.

Operating and Development Activities. The Cerro Verde expansion project commenced operations in September 2015 and achieved capacity operating rates during first-quarter 2016. Cerro Verde’s expanded operations benefit from its large-scale, long-lived reserves and cost efficiencies. The project expanded the concentrator facilities from 120,000 metric tons of ore per day to 360,000 metric tons of ore per day.

In the second half of 2015, FCX adjusted operations at its El Abra mine to reduce mining and stacking rates by approximately 50 percent to achieve lower operating and labor costs, defer capital expenditures and extend the life of the existing operations. El Abra continues to operate at reduced rates. FCX continues to evaluate a potential large-scale milling operation at El Abra to process additional sulfide material and to achieve higher recoveries. Exploration results at El Abra indicate a significant sulfide resource, which could potentially support a major mill project. Future investments will depend on technical studies, economic factors and market conditions.

South America’s consolidated copper sales volumes of 287 million pounds in second-quarter 2017 were lower than second-quarter 2016 sales of 327 million pounds primarily reflecting lower mining rates, ore grades and recoveries. Sales from South America mining are expected to approximate 1.2 billion pounds of copper for the year 2017, compared with 1.3 billion pounds of copper in 2016.

Average unit net cash costs (net of by-product credits) for South America mining of $1.65 per pound of copper in second-quarter 2017 were higher than unit net cash costs of $1.31 per pound in second-quarter 2016, primarily reflecting lower sales volumes and higher maintenance costs. Average unit net cash costs (net of by-product credits) for South America mining are expected to approximate $1.65 per pound of copper for the year 2017, based on current sales volume and cost estimates and assuming an average price of $7.50 per pound of molybdenum for the second half of 2017.

Results of Drilling At The Yerington Copper Project

VANCOUVER – Quaterra Resources Inc. and its subsidiary Singatse Peak Services LLC (SPS) reported the first results from its ongoing 2017 drill program at its Yerington Copper Project including one hole, YM-041A-17, that extends mineralization at least 800 feet below the existing sulfide resource in the Yerington pit

Drilling began on March 26, 2017, to test targets on the Company’s 51-square-mile land package located in the historic Yerington Copper District of Nevada. To date, 12 reverse circulation (RC) holes totaling 9,307 feet and four core holes totaling 8,694.3 feet have been drilled. To lower costs, most holes were begun with RC drilling and completed with core.

The area in and around the historic Yerington pit has been a primary focus. Hole YM-041A-17, drilled at – 55 degrees, intersected 561.7 feet averaging 0.20% copper, including several narrower intercepts with plus 0.30% copper. Hole YM-042-17, also drilled at – 55 degrees, collared in the pit about 1,000 feet further west, intersected a similar but lower grade interval averaging 0.12% copper.

These initial results suggest that the large Yerington mine mineralizing system is open to depth and along strike with potential for higher grades. Two additional holes in the pit, YM-043-17 and YM-044-17, are currently in progress. One hole drilled west of the pit did not intersect significant mineralization.

On January 6, 2014, Quaterra released an updated NI 43-101 resource estimate for mineralization in and around the Yerington pit. Using a cutoff of 0.15% TCu, the measured sulfide copper resource contains 31 million tons averaging 0.33% TCu (205 million pounds of copper), the indicated primary copper resource contains 74 million tons averaging 0.30% TCu (428 million pounds of copper), and the inferred primary copper resource contains 128 million tons of 0.23% TCu (600 million pounds of copper). Mineral resources that are not mineral reserves do not have demonstrated economic viability. Hole YM-041A-17 extends mineralization at least 800 feet below the base of this resource.

Kinross Gold On Track To Meet Annual Production

TORONTO – Kinross Gold reported that with strong operational performance during the quarter in the Americas, the region is on track to meet its 2017 guidance range for production and cost of sales per ounce, notwithstanding the temporary curtailment of mining operations at Paracatu.

At Fort Knox in Alaska, production and cost of sales per ounce were mainly in line with Q1 2017. Production decreased compared with Q2 2016 largely due to a colder spring season that affected heap leach performance, which was offset by an increase in mill grades. Cost of sales per ounce was lower year-over-year mainly due to a decrease in operating waste.

Round Mountain, in Nevada performed strongly during the quarter, with production increasing 12% compared with Q1 2017, and 24% compared with Q2 2016, primarily due to higher mill grades, the highest the mine has reached since 2008. The production increase was also as a result of more ounces recovered from the heap leach primarily as a result of higher grades. Cost of sales per ounce was at its lowest level since 2012, and was substantially lower both year-over-year and quarter-over-quarter mainly due to the higher mill grades. Labour costs also decreased year-over-year.

At Bald Mountain, also in Nevada production increased compared with Q1 2017 and Q2 2016 mainly due to a significant increase of tonnes placed on the heap leach pads, and ounces recovered. Cost of sales decreased compared with Q1 2017 mainly due to lower contractor costs and was lower year-over-year mainly due to a decrease in contractor and maintenance costs. The mine is expected to substantially increase production in the second half of the year due to mine sequencing and timing from the heap leach and is on track to double production for 2017 compared with full-year 2016.

At the Kettle River-Buckhorn Mine in Washington it outperformed during the quarter, as production increased compared with Q1 2017 and Q2 2016, with cost of sales per ounce decreasing mainly due to higher grades. While the last batch of ore was hauled from Buckhorn in July, the mill is expected to continue to process stockpiles, with minimal production expected in the third quarter. The small-footprint, high-grade underground mine performed strongly during its nine year mine life and exceeded expectations, with mine life originally slated to end in 2015. Exploration in the region continues in 2017.

At the Paracatu Mine, in Brazil production was higher compared with Q1 2017 and Q2 2016 mainly due to higher recoveries. Cost of sales per ounce decreased compared with Q1 2017 mainly due to the higher recoveries, and was higher compared with Q2 2016 primarily due to more operating waste mined and unfavorable foreign exchange movements.

At the beginning of July, the expected temporary curtailment of mining and Plant 2 operations commenced at Paracatu due to the lower than average rainfall in the area. The Company’s 2017 production guidance took into account the potential curtailment and is not expected to be impacted at this time. The expected production impact has been partly mitigated by the tailings reprocessing initiative, which is expected to increase in the third quarter at Plant 1, while Plant 2 maintenance has been brought forward to coincide with the downtime. The production from the tailings reprocessing is expected to be approximately 25,000 – 35,000 gold ounces in the third quarter, with a processing rate of approximately 50,000 t/d at Plant 1. The Company also continued to implement water mitigation efforts, including an enhanced water pumping system, securing water rights, and installment of wells around the site. Curtailment of mining and Plant 2 operations will continue until the water balance allows for production to resume, which is expected in Q4 when the rainy season begins.

At Maricunga in Chile, production from the rinsing of the heap materials placed on the pads prior to the suspension of mining activities continued to produce better than expected results. Cost of sales per ounce was lower quarter-over-quarter and year-over-year due to higher ounces recovered. While the rinsing of the pads is now expected to continue for the remainder of the year, production is expected to be minimal and lower than the first half of 2017.

Seabridge Gold Sells Residual Interest in KSP Project

TORONTO – SnipGold Corp., a wholly-owned subsidiary of Seabridge Gold Inc. has entered into an agreement with Colorado Resources Ltd. whereby Colorado has agreed to purchase SnipGold’s 49% interest in the KSP Project. The transaction will result in Colorado owning a 100% interest in the KSP Project upon payment to Seabridge of $1,000,000 in cash, 2,000,000 Colorado common shares and a 2% NSR on the property (half of which can be repurchased at any time for $2,000,000). Closing of the transaction is subject to TSX Venture Exchange approval.

KSP adjoins Seabridge’s 100%-owned Iskut Project in northwestern British Columbia, Canada where Seabridge is currently conducting a multi-million dollar drill program exploring for high grade gold deposits.

Seabridge obtained a 100% interest in the KSP Project as part of its acquisition of 100% of SnipGold Corp. in June, 2016. At the time of the SnipGold acquisition, the KSP Project was subject to an exploration earn-in agreement in favor of Colorado as operator. In May, 2017, Colorado announced that it had earned a 51% interest in KSP and outlined the 2017 exploration spending that would vest a further 29% interest.

Seabridge Chairman and CEO Rudi Fronk said the sale of SnipGold’s residual interest in KSP is part of Seabridge’s ongoing program of divesting non-core assets in order to focus on projects in which it is sole owner and operator. “Our corporate objectives are better served by taking a passive interest in KSP and allocating our resources to exploration programs now in progress at KSM and Iskut.”

Seabridge Gold holds a 100% interest in several North American gold resource projects. The Company’s principal assets are the KSM and Iskut properties located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in Canada’s Northwest Territories.