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Tuesday, December 05, 2017
Sunday, December 03, 2017
Tuesday, November 28, 2017
SilverCrest (TSXV: $SIL.V; OTCQX: $SVCMF) Continues to Intercept High-Grade Mineralization at Las Chispas Property, Extensions to Las Chispas and Giovanni Veins
SilverCrest (TSXV: $SIL.V;
OTCQX: $SVCMF) Continues to Intercept High-Grade Mineralization at Las Chispas
Property, Extensions to Las Chispas and Giovanni Veins
Vancouver, British Columbia - November 28, 2017
(Investorideas.com Newswire) SilverCrest Metals Inc. (TSXV:
SIL.V; OTCQX: SVCMF) ("SilverCrest" or the "Company") is pleased to
release additional surface and underground drill results from its ongoing Phase
II Exploration Program at the Las Chispas Property (the "Property")
located in Sonora, Mexico. The surface and underground drill program is
designed to define readily accessible high-grade areas in the historic underground
workings in the Las Chispas Vein and further define the Giovanni Vein. The
Company is currently exploring nine of the 19 known epithermal veins on the
Property with efforts focused on four of these veins to be incorporated into
SilverCrest's maiden resource estimate anticipated in Q1 2018.
Read this news in full at http://www.investorideas.com/CO/SILV/news/2017/11281LasChispas.asp
N. Eric Fier, CPG, P.Eng, President and CEO,
remarked, "These results are building on our previous drilling and
underground sampling program, which has demonstrated intact semi-continuous
high-grade mineralization for the Las Chispas and Giovanni veins. As part of
our expanded Phase II Exploration Program, we intend to continue with
underground drilling and channel sampling on the Las Chispas and Giovanni veins
through Q1 2018. We remain on track to deliver a maiden resource estimate in Q1
2018 which will include the Las Chispas, Giovanni, William Tell and Babicanora
veins."
The most significant results for this release are
in Hole LC17-72, which returned 4.0 metres grading 18.61 grams per tonne
("gpt") gold and 696.2 gpt silver, or 2,092 gpt silver equivalent
("AgEq", based on 75 (Ag):1 (Au) and 100% metallurgical recovery),
including 0.8 metres grading 92.60 gpt gold and 2,890.0 gpt silver, or 9,835
gpt AgEq. Other significant results include Hole LC17-68 at 2.0 metres grading
5.85 gpt gold and 1,191.5 gpt silver, or 1,630 gpt AgEq, Hole LCU17-02 at 2.2
metres grading 9.42 gpt gold and 1,369.3 gpt silver, or 2,076 gpt AgEq, and
Hole LCU17-04 at 6.3 metres grading 1.97 gpt gold and 241.4 gpt silver, or 389
gpt AgEq. The following table summarizes the most significant drill results
(uncut, undiluted) for this release in the Las Chispas Area only;
Note: all numbers are rounded
*AgEq based on 75 (Ag):1 (Au) and 100% metallurgical recovery.
**True thickness is 80 to 100% of drilled thickness.
***Las Chispas surface holes begin with "LC" and underground holes begin with "LCU".
*AgEq based on 75 (Ag):1 (Au) and 100% metallurgical recovery.
**True thickness is 80 to 100% of drilled thickness.
***Las Chispas surface holes begin with "LC" and underground holes begin with "LCU".
All assays were completed by ALS Chemex in
Hermosillo, Mexico, and North Vancouver, BC, Canada.
Holes LC17-59, 62, 63, 64, and 71, and LCU17-01 and
06 intersected mineralization below the Company's 150 gpt AgEq cutoff. Hole
LCU17-07 was replaced with 07A and hole LC17-67 was a lost downhole.
Underground holes LCU17-02 to 07A tested for extensions of the Las Chispas Vein
to the southwest and northwest, beyond the historic workings and intercepted
the Tajo Chico Vein (see note below). Several un-named veins continue to be
intersected and are under review for possible inclusion in the ongoing
district-wide vein discoveries.
Hole LC17-72 (4.0 metres grading 2,092 gpt AgEq)
was designed to test the continuity of the Giovanni Vein and replicate the
nearby Hole LC16-08 (7.2 metres grading 492 gpt AgEq). This unmined vein is
readily accessible via the Las Chispas historic workings. The high-grade
footprint for the Giovanni Vein continues to grow and further underground
infill and expansion drilling in this area is underway.
Hole LC17-58 (2.0 metres grading 246 gpt AgEq) was
designed as a step-out hole to test the downward extension of the Las Chispas
Vein mineralization. The hole intercepted high-grade mineralization
approximately 400 metres to the southeast of previously announced drill
results. Further surface drilling to potentially expand the Las Chispas
high-grade footprint is planned for 2018.
Hole LCU17-04 (6.3 metres grading 389 gpt AgEq) was
designed to test the historic Tajo Chico Vein which is a high-grade splay of
the Las Chispas Vein (see attached Figure). The hole intercepted the unmined
high-grade extension of this vein. Further underground drilling is underway.
Historic Las Chispas Mine underground workings have
been open for over 80 years with minor backfill and no ground support. Several
prominent high-grade historic pillars remain intact in the mine and are readily
accessible via a historic haulage route (see attached Figures). With further
detailed underground channel sampling, the Company will be assessing the
optimal way to incorporate these pillars and intact mineralization into the
upcoming resource estimate. These pillars could potentially be incorporated
into plans for extraction of a permitted bulk sample for offsite processing in
2018.
The Company anticipates completing its Phase II
Exploration Program by mid-January which will include drilling a further 4,000
to 6,000 metres in the district, primarily on the Babicanora extension (see
November 27, 2017 news release). SilverCrest remains on track to deliver a
maiden resource estimate for the Las Chispas project in Q1 2018.
The Qualified Person under National Instrument
43-101 Standards of Disclosure for Mineral Projects for this news release is N.
Eric Fier, CPG, P.Eng, and President and CEO for SilverCrest, who has reviewed
and approved its contents.
About SilverCrest Metals INC.
SilverCrest
is a Canadian precious metals exploration company headquartered in Vancouver,
BC, that is focused on new discoveries, value-added acquisitions and targeting
production in Mexico's historic precious metal districts. The Company's current
focus is on the high-grade, historic Las Chispas mining district in Sonora,
Mexico. SilverCrest is the first company to successfully drill-test the
historic Las Chispas Project resulting in numerous discoveries. The Company is
led by a proven management team in all aspects of the precious metal mining
sector, including taking projects through discovery, finance, on time and on
budget construction, and production.
FORWARD-LOOKING STATEMENTS
This news
release contains "forward-looking statements" within the meaning of
Canadian securities legislation. These include, without limitation, statements
with respect to: the strategic plans, timing and expectations for the Company's
exploration, rehabilitation and drilling programs of the Las Chispas Property,
including preparation of an initial resource estimate; information with respect
to high grade areas and size of veins projected from underground sampling
results and drilling results; and the accessibility of future mining at the Las
Chispas Property. Such forward‑looking statements or information are based on a
number of assumptions, which may prove to be incorrect. Assumptions have been
made regarding, among other things: the conditions in general economic and
financial markets; availability of skilled labour; timing and amount of
expenditures related to rehabilitation and drilling programs; and effects of
regulation by governmental agencies. The actual results could differ materially
from those anticipated in these forward-looking statements as a result of risk
factors including: the timing and content of work programs; results of
exploration activities; the interpretation of drilling results and other
geological data; receipt, maintenance and security of permits and mineral
property titles; environmental and other regulatory risks; project cost
overruns or unanticipated costs and expenses; and general market and industry
conditions. Forward-looking statements are based on the expectations and opinions
of the Company's management on the date the statements are made. The
assumptions used in the preparation of such statements, although considered
reasonable at the time of preparation, may prove to be imprecise and, as such,
readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date the statements were made. The
Company undertakes no obligation to update or revise any forward-looking
statements included in this news release if these beliefs, estimates and
opinions or other circumstances should change, except as otherwise required by
applicable law.
N. Eric
Fier, CPG, P.Eng
President & CEO
President & CEO
SilverCrest
Metals Inc.
For Further Information:
SilverCrest
Metals Inc.
Contact: Fred Cooper, Investor Relations
Telephone: +1 (604) 694-1730
Fax: +1 (604) 694-1761
Toll Free: 1-866-691-1730 (Canada & USA)
Email: info@silvercrestmetals.com
Website: www.silvercrestmetals.com
570 Granville Street, Suite 501
Vancouver, British Columbia V6C 3P1
Contact: Fred Cooper, Investor Relations
Telephone: +1 (604) 694-1730
Fax: +1 (604) 694-1761
Toll Free: 1-866-691-1730 (Canada & USA)
Email: info@silvercrestmetals.com
Website: www.silvercrestmetals.com
570 Granville Street, Suite 501
Vancouver, British Columbia V6C 3P1
Neither
TSX Venture Exchange nor its Regulation Services Provider (as defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
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Monday, November 27, 2017
Investorideas.com Newswire - #Mining News: #SilverCrest (TSXV: $SIL.V; OTCQX: $SVCMF) Expands Babicanora High-Grade Footprint to One Kilometre
Investorideas.com Newswire - #Mining News: #SilverCrest (TSXV: $SIL.V; OTCQX: $SVCMF) Expands Babicanora High-Grade Footprint to One Kilometre
SilverCrest Metals Inc. (TSXV: SIL.V; OTCQX: SVCMF)
("SilverCrest" or the "Company") is pleased to announce
additional Phase II drill results for the Las Chispas Property (the
"Property") located in Sonora, Mexico. Step-out drilling targeting
extensions of the Babicanora Vein continues to intersect high-grade
mineralization. With the latest results, SilverCrest has drill-tested and
intersected high-grade mineralization for an additional 400 metre of strike
length at the Babicanora Vein. The high-grade footprint is now a total of 1,000
metres in strike length, with a near-surface mineralized height of 125 to 175
metres (see attached Figures). There are 19 known epithermal veins on the
Property, including nine which consist of the Babicanora, Babicanora Footwall,
Las Chispas, Giovanni, La Blanquita, William Tell, Varela, Granaditas and
Amethyst veins. SilverCrest has intersected high-grade silver-gold mineralization in each of the nine veins drilled to date.
("SilverCrest" or the "Company") is pleased to announce
additional Phase II drill results for the Las Chispas Property (the
"Property") located in Sonora, Mexico. Step-out drilling targeting
extensions of the Babicanora Vein continues to intersect high-grade
mineralization. With the latest results, SilverCrest has drill-tested and
intersected high-grade mineralization for an additional 400 metre of strike
length at the Babicanora Vein. The high-grade footprint is now a total of 1,000
metres in strike length, with a near-surface mineralized height of 125 to 175
metres (see attached Figures). There are 19 known epithermal veins on the
Property, including nine which consist of the Babicanora, Babicanora Footwall,
Las Chispas, Giovanni, La Blanquita, William Tell, Varela, Granaditas and
Amethyst veins. SilverCrest has intersected high-grade silver-gold mineralization in each of the nine veins drilled to date.
Wednesday, November 22, 2017
#Mining News; Prophecy (TSX: $PCY.V, OTCQX: $PRPCF) Reports 2.08 Million Tonnes of Indicated Resource Grading: 455 g/t Silver, 3.19% Zinc, 2.18% Lead (594 g/t Ag Eq.) for Pulacayo Project
#Mining News; Prophecy (TSX: $PCY.V, OTCQX: $PRPCF) Reports 2.08
Million Tonnes of Indicated Resource Grading: 455 g/t Silver, 3.19% Zinc, 2.18%
Lead (594 g/t Ag Eq.) for Pulacayo Project
Vancouver, British Columbia, November 22, 2017 – Prophecy Development Corp. (“Prophecy” or the “Company”) (TSX:PCY, OTCQX:PRPCF,
Frankfurt:1P2) has received an independent technical report with an effective date of October 20, 2017 titled “Updated
Mineral Resource Estimate and Technical Report for the Pulacayo
Project” (the “Report”). The Report was prepared by Mercator Geological Services Limited (“Mercator”) on the Company’s Pulacayo
project (the “Project”) and has been filed under the Company’s profile on the System for Electronic Document Analysis and
Retrieval (“SEDAR”) at www.sedar.com.
Read this news in full at
http://www.investorideas.com/news/2017/mining/11225TSXPCY.asp
The Project is located in
Bolivia, 107 km northeast of Sumitomo Corporation’s San Cristobal silver mine,
185 km southwest of Coeur Mining, Inc.’s San Bartolome silver mine, and 139 km
north of Pan American Silver Corp.’s San Vicente silver mine.
The Report describes resources estimated
following the guidelines of the CIM Definition Standards for Mineral Resources
and Mineral Reserves.
Two mineral resource
estimates were disclosed according to the requirements of National Instrument
43-101 – Standards of Disclosure for
Mineral Projects (“NI 43-101”) –
one for the Pulacayo deposit and the second for the Paca deposit.
Pulacayo Deposit
Results of the mineral
resource estimate prepared by Mercator for the Pulacayo deposit are presented
below in Table 1. The Report filed on SEDAR documents the resource estimate.
The Report outlined 2.08
million tonnes at a weighted average grade of Ag 455 g/t, Pb 2.18%, Zn 3.19%
(Ag Eq. 594 g/t) in the indicated category and 0.48 million tonnes at a
weighted average grade of Ag 406 g/t, Pb 2.08%, Zn 3.93% (Ag Eq. 572 g/t) in
the inferred category. The
contained metal content estimated by the Company, of the indicated category
resources is 30.4 million ounces of silver, 100.0 million pounds of lead,
146.3 million pounds of zinc. The contained metal content estimated by the Company, of the
inferred category resource is 6.3 million ounces of silver, 22.0
million pounds of lead, and 41.6 million pounds of zinc (more
resource details in the table below).
Table 1. Pulacayo Indicated
and Inferred Mineral Resource Statement Details
Pulacayo Mineral Resource Statement – Effective October
20, 2017
|
||||||
Ag Eq. Cut-Off (g/t)
|
Category
|
Tonnes*
|
Ag (g/t)
|
Pb (%)
|
Zn (%)
|
Ag Eq. (g/t)
|
400
|
Indicated
|
2,080,000
|
455
|
2.18
|
3.19
|
594
|
Inferred
|
480,000
|
406
|
2.08
|
3.93
|
572
|
Notes:
(1) Mineral
resources are estimated in conformance with the CIM Standards referenced in NI
43-101.
(2) Raw
silver assays were capped at 1,700 g/t, raw lead assays were capped at 15% and
raw zinc assays were capped at 15%.
(3) Silver
equivalent Ag Eq. (g/t) = Ag
(g/t)*89.2% + (Pb% *(US$0.94/ lb. Pb /14.583 Troy
oz./lb./US$16.50 per Troy oz. Ag)*10,000*91.9%) + (Zn% *(US$1.00/lb.
Zn/14.583 Troy oz./lb./US$16.50 per Troy oz. Ag)*10,000*82.9%).
(4) Metal
prices used in the silver equivalent calculation are US$16.50/Troy oz. Ag,
US$0.94/lb Pb and US$1.00/lb. Zn. Metal recoveries used in the silver
equivalent equation reflect historic metallurgical results disclosed by
Apogee Silver Ltd. (Porter et al., 2013).
(5) Metal
grades were interpolated within wire-framed, three-dimensional silver domain
solids using Geovia-Surpac Ver. 6.6.1 software and inverse distance squared
interpolation methods. Block size is 10m(X) by 10m(Z)
by 2m(Y). Historic mine void space was removed from the model prior to
reporting of resources.
(6) Block
density factors reflect three-dimensional modeling of drill core density
determinations.
(7) Mineral
resources are considered to have reasonable expectation for economic
development using underground mining methods based on the deposit history,
resource amount and metal grades, current metal
pricing and comparison to broadly comparable deposits elsewhere.
(8) Rounding
of figures may result in apparent differences between tonnes, grade and
contained ounces.
(9) Mineral
resources that are not mineral reserves do not have demonstrated economic
viability.
(10) * Tonnes are rounded to
nearest 10,000.
The contained metals estimated
by the Company based on in the October 20, 2017 resource estimate by Mercator
are presented in Table 2.
Table 2: Contained Metals
Based on October 20, 2017 Pulacayo Deposit** Mineral Resource Estimate
Metal
|
Indicated Resource
|
Inferred Resource
|
Silver
|
30.4 million oz.
|
6.3 million oz.
|
Lead
|
100.0 million lbs.
|
22.0 million lbs.
|
Zinc
|
146.3 million lbs.
|
41.6 million lbs.
|
**Based
on the resource estimate Ag Eq. cut-off value of 400 g/t and 100% recovery;
figures are rounded to the nearest 100,000th increment
Between 2006 and 2012, a
total of 69,739 metres of diamond drilling (226 surface and 42 underground
drill holes) was conducted at Pulacayo, results of which support the mineral
resource estimate reported in this news release. The Pulacayo site is currently permitted for production at a
milling rate of 560 tonnes per day and no known legal, political,
environmental, or other risks that would materially affect potential future
development have been identified by Prophecy at the effective date of the
current (October 20, 2017) mineral resource estimate.
Approximately 85% of the
resource tonnage identified at the 400 g/t Ag Eq. cut-off value occurs within
150 meters vertical distance from the main San Leon tunnel, which may
facilitate future mineral extraction.
Historic Pulacayo
production was predominantly from the Tajo vein system which extends over a
strike length of more than 2.5 km and to a depth of at least 1,000 meters. Prior resource drilling only covered
approximately 20% of the Tajo vein system strike length. With new drilling, Prophecy feels that there
is potential to discover additional resources along the Tajo structure.
The Company’s research
has shown that relatively few silver underground deposits have been defined at
resource cut-off values of 400 g/t Ag Eq. or more.
Paca Deposit
The Paca
deposit is located in Bolivia approximately 7 km north of the Pulacayo deposit.
Results of the mineral
resource estimate prepared by Mercator for the Paca deposit are presented below
in Table 3. The Report described previously and filed on SEDAR documents
the resource estimate.
The Report outlined 2.54
million tonnes at a weighted average grade of Ag 256 g/t, Pb 1.03%, Zn 1.10%
(Ag Eq. 342 g/t) in the inferred category. The contained metal content
estimated by the Company, of the inferred category resources is 20.9 million ounces
of silver, 57.7 million pounds of lead, 61.6 million
pounds of zinc. (more resource details in the table below).
Table 3. Paca Inferred Mineral Resource Statement Details
Paca Mineral Resource Statement – Effective October
20, 2017
|
||||||
Ag Eq. Cut-Off (g/t)
|
Category
|
Tonnes*
|
Ag (g/t)
|
Pb (%)
|
Zn (%)
|
Ag Eq. (g/t)
|
200
|
Inferred
|
2,540,000
|
256
|
1.03
|
1.10
|
342
|
Notes:
(1) Mineral resources are
estimated in conformance with the CIM Standards referenced in NI 43-101.
(2) Raw silver assays were
capped at 1,050 g/t, raw lead assays were capped at 5% and raw zinc assays were capped at 5%.
(3) Silver equivalent Ag Eq.
(g/t) = Ag (g/t) + (Pb% *(US$0.94/ lb. Pb /14.583 Troy oz./lb./US$16.50 per
Troy oz. Ag)*10,000) + (Zn% *(US$1.00/lb.
Zn/14.583 Troy oz./lb./US$16.50 per Troy oz. Ag)*10,000). 100 % metal
recoveries are assumed based on lack of comprehensive metallurgical results.
(4) Metal prices used in the
silver equivalent calculation are US$16.50/Troy oz. Ag, US$0.94/lb Pb and US$1.00/lb
Zn and reflect those used for the Pulacayo deposit mineral resource estimate
reported above.
(5) Metal grades were
interpolated within wire-framed, three-dimensional solids using Geovia-Surpac
Ver. 6.7 software and inverse distance squared interpolation methods.
Block size is 5m (X) by 5m (Z) by 2.5m (Y). Historic mine void space
was removed from the model prior to reporting resources.
(6) A block density factor of
2.26g/cm³ was used and reflects the average of 799 density measurements.
(7) Mineral resources are
considered to have reasonable expectation for economic development using combined
underground and open pit methods based on the deposit history, resource amount
and metal grades, current metal pricing and comparison to broadly
comparable deposits elsewhere.
(8) Mineral resources that
are not mineral reserves do not have demonstrated economic viability.
(9) *Tonnes
are rounded to nearest 10,000.
The contained metals estimated by the Company based on the
October 20, 2017 resource estimate by Mercator are presented in Table 4.
Table 4. Contained Metals Based On October 20, 2017 Paca
Deposit** Mineral Resource Estimate
Metal
|
Inferred Resource
|
Silver
|
20.9 million oz.
|
Lead
|
57.7 million lbs.
|
Zinc
|
61.6 million lbs.
|
**Based
on the resource estimate Ag Eq. cut-off value of 200 g/t and 100% recovery;
figures are rounded to the nearest 100,000th increment
The resource estimate is based on results of 97 diamond
drill holes and 1 reverse circulation drill hole totaling 18,160 meters completed
between 2002 and 2007.
The geology of the Paca deposit includes a core zone of
feeder-style mineralization associated predominantly with brecciated andesite,
plus additional zones of shallowly dipping mantos-style mineralization that are
hosted by the surrounding volcano-sedimentary sequence. The Paca deposit remains open at depth
and along strike.
The Paca mineralization starts from surface and the deposit
may be amenable to open-pit mining and this will be evaluated further in the
future.
The Company’s research has shown that relatively few silver
open pit deposits have been defined at resource cut-off values of 200 g/t Ag
Eq. or more.
Project update
The Company’s Bolivian
subsidiary, ASC Bolivia LDC Sucursal Bolivia, has invested approximately US$28
million at Pulacayo and already acquired necessary environmental and social
licenses to mine at Pulacayo. The Company is working with the Bolivian
mining ministry and Corporacion Minera De Bolivia (COMIBOL) to obtain
authorization which will allow Prophecy to mine at Pulacayo while transitioning
from the current joint venture contract to a mining production contract.
Qualified Persons
The technical contents of
this news release have been prepared under the supervision of Christopher M.
Kravits, CPG, LPG, General Mining Manager of Prophecy. Mr. Kravits is a Qualified Person as
defined in NI 43-101. Mr. Kravits is a consultant to the Company and is not
independent of the Company since most of his income is derived from the
Company.
Peter Webster, P. Geo.,
of Mercator Geological Services Limited is one of the Qualified Persons within
the meaning of NI 43-101 responsible for preparation of Sections 3.0 to 8.0, 14.0
to 23.0 and 26 of the Report. He also
reviewed all Report sections, contributed to the Report Summary and Report Sections
24.0 and 25.0, and responsible for the mineral resource estimate addressed in
this news release. Michael P. Cullen, P. Geo., also of Mercator
Geological Services Limited is the other Qualified Person within the meaning of
NI 43-101 responsible for preparation of Sections 1.0 and 2.0, 9.0 through 13.0
of the Report. He also reviewed all
Report sections and contributed to the Report Summary.
About Prophecy
Prophecy Development
Corp. is a Canadian public company listed on the Toronto Stock Exchange that is
engaged in worldwide mineral and energy exploration and development. Further information
on Prophecy can be found at www.prophecydev.com.
About Mercator
Mercator Geological
Services Limited is a Canadian consulting firm founded in 1997 that offers a
broad range of professional project management services including technical
reporting to standards referenced in NI 43-101, exploration program management,
and professional staffing for both small and large mineral exploration
projects. Mercator has completed mineral
exploration and resource estimation programs both domestically and
internationally and prepared on behalf of Prophecy, the current mineral
resource estimates for the Pulacayo deposit and the Paca deposit.
PROPHECY DEVELOPMENT CORP.
ON BEHALF OF THE BOARD
“JOHN LEE”
Executive Chairman
For more information about Prophecy,
please contact Investor Relations:
+1.888.513.6286
Neither the Toronto Stock
Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the Toronto Stock Exchange) accepts responsibility for the adequacy
or accuracy of this release.
Cautionary Note Regarding
Forward-Looking Statements
Certain
statements contained in this news release, including statements which may
contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”,
“estimates”, or similar expressions, and statements related to matters which
are not historical facts, are forward-looking information within the meaning of
applicable securities laws. Such forward-looking statements, which reflect
management’s expectations regarding Prophecy’s future growth, results of
operations, performance, business prospects and opportunities, are based on
certain factors and assumptions and involve known and unknown risks and
uncertainties which may cause the actual results, performance, or achievements
to be materially different from future results, performance, or achievements
expressed or implied by such forward-looking statements. These estimates and
assumptions are inherently subject to significant business, economic,
competitive and other uncertainties and contingencies, many of which, with
respect to future events, are subject to change and could cause actual results
to differ materially from those expressed or implied in any forward-looking
statements made by Prophecy. In making forward-looking statements as may be
included in this news release, Prophecy has made several assumptions that it
believes are appropriate, including, but not limited to assumptions that: there
being no significant disruptions affecting operations, such as due to labour
disruptions; currency exchange rates being approximately consistent with
current levels; certain price assumptions for coal, prices for and availability
of fuel, parts and equipment and other key supplies remain consistent with
current levels; production forecasts meeting expectations; the accuracy of
Prophecy’s current mineral resource estimates; labour and materials costs
increasing on a basis consistent with Prophecy’s current expectations; and that
any additional required financing will be available on reasonable terms.
Prophecy cannot assure you that any of these assumptions will prove to be
correct.
Numerous
factors could cause Prophecy’s actual results to differ materially from those
expressed or implied in the forward-looking statements, including the following
risks and uncertainties, which are discussed in greater detail under the
heading “Risk Factors” in Prophecy’s most recent Management Discussion and
Analysis and Annual Information Form as filed on SEDAR and posted on Prophecy’s
website: Prophecy’s history of net losses and lack of foreseeable cash flow;
exploration, development and production risks, including risks related to the
development of Prophecy’s mineral properties; Prophecy not having a history of
profitable mineral production; the uncertainty of mineral resource and mineral
reserve estimates; the capital and operating costs required to bring Prophecy’s
projects into production and the resulting economic returns from its projects;
foreign operations and political conditions, including the legal and political
risks of operating in Bolivia, which is a developing jurisdiction; amendments
to local Bolivian laws which may have an adverse impact on the Company’s
operations; title to Prophecy’s mineral properties; environmental risks; the
competitive nature of the mining business; lack of infrastructure; Prophecy’s
reliance on key personnel; uninsured risks; commodity price fluctuations;
reliance on contractors; Prophecy’s need for substantial additional funding and
the risk of not securing such funding on reasonable terms or at all; foreign
exchange risks; anti-corruption legislation; recent global financial conditions;
the payment of dividends; and conflicts of interest.
These factors
should be considered carefully, and readers should not place undue reliance on
Prophecy’s forward-looking statements. Prophecy believes that the expectations
reflected in the forward-looking statements contained in this news release and
the documents incorporated by reference herein are reasonable, but no assurance
can be given that these expectations will prove to be correct. In addition,
although Prophecy has attempted to identify important factors that could cause
actual actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause actions,
events or results not to be as anticipated, estimated or intended. Prophecy
undertakes no obligation to release publicly any future revisions to
forward-looking statements to reflect events or circumstances after the date of
this news or to reflect the occurrence of unanticipated events, except as
expressly required by law.
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