Posted by AGORACOM-JC
at 8:29 AM on Wednesday, October 2nd, 2019
Affinity Metals controls the Regal Property, an incredible
asset in BC that has a history of Pollymetallic production & hosts several
past producing small-scale historic mines.
Most people are unaware of but are about to find about.
A complete feasibility review of the Regal Silver Mine,
including a reserve report, mine plan, processing recommendations and mill plan
was developed in 1971 to put Regal into production at $1.75 OZ Silver on a
reserve of 590,000tonnes. grading 71.6 grams per tonne silver, 2.66 per cent
lead, 1.26 per cent zinc, 1.1 per cent copper, … needs to be updated with current
43-101 so investors should not be relying on these figures until then.
Past producing mines on property may be potential indicators of a major mineralized system underneath the property.
Posted by AGORACOM
at 2:03 PM on Monday, September 23rd, 2019
Sponsor: Affinity is a Canadian mineral exploration company building a strong portfolio of mineral projects in North America. The Corporation’s flagship property is the Drill ready Regal Property near Revelstoke, BC (TSX-V: AFF) Click Here for More Info
This year marked the 30th
anniversary of the Denver Gold Forum (DGF), the world’s most prestigious
precious metal equities investment conference. The invitation-only
event, held last week, was attended by an incredible seven-eighths of
the world’s publicly traded gold and silver companies by production, as
well as leading metals and mining executives, money managers, analysts
and investors.
Much has changed in the precious metals and mining industry in the
past 30 years, as we were all reminded by my longtime friend and mentor
Pierre Lassonde. Pierre, as many of you know, is the legendary
co-founder, along with Seymour Schulich, of Franco-Nevada, the first
publicly-traded gold royalty company. What you may not know is that
Pierre is also one of Canada’s most gracious philanthropists and
currently serves as the chairman of the Canada Council for the Arts
Board of Directors.
According to Pierre, annual global gold demand has exploded in the
years since the first DGF was held. Demand grew more than fivefold, from
a value of $32 billion in 1989 to $177 billion in 2018.
Today’s central banks are net buyers of gold as they seek to
diversify away from the U.S. dollar. But 30 years ago, they were net sellers.
In 1989, banks collectively unwound as much as 432 tonnes from their
reserves. Compare that to last year, when they ended up buying some
651.5 tonnes, the largest such purchase since the Nixon administration, with Russia and China leading the way.
Speaking of China… Pierre pointed out to us that we’ve seen a significant shift in gold demand over the past 30 years, from west to east, as incomes in China and India—or “Chindiaâ€â€”have risen. In 1989, Chindia’s combined share of global demand for the precious metal was only about 10 percent. Fast forward to today, and it’s 53 percent.
China and India Now Represent More Than Half of Total Global Gold Demand U.S. Global Investors
“Don’t forget the Golden Rule,†Pierre said. “He who has the gold makes the rules!â€
The Gold Price in 2049 Will Be…
One of the highlights of Pierre’s presentation was his forecast for
the price of gold in the next 30 years. After analyzing gold’s
historical compound annual growth rate (CAGR) over the past 50 years,
ever since President Nixon formally took the U.S. off the gold standard,
Pierre says he sees an average price target of $12,500 an ounce by
2049. And under the “right†conditions, it could go as high as $25,000!
Could We See $25,000 Gold by 2049?
U.S. Global Investors
“I think gold is in a good place,†Pierre told Kitco News’ Daniela Cambone
on the sidelines of the DGF. “The financial demand is being driven by
negative interest rates. Should the U.S. Treasury 30-year bond yield
ever, ever go negative, like in Germany and France, God bless, we’re
looking at $5,000 gold.â€
ESG Investing Goes Mainstream
One of my own observations of how the DGF has changed over the last
30 years is the way in which mining companies pitch their stock to
investors. Before, they would jump right into financials, production
costs, mining feasibility and the like. Today, however, they begin by
discussing topics such as sustainability and environmental impact.
ESG investing stands for environmental, social and governance. This
set of criteria has grown in importance among “socially consciousâ€
investors over the past decade, as you can see in the chart below. In
the U.S. alone, assets under management (AUM) in ESG-oriented funds and
ETFs have more than doubled from approximately $40 billion in 2013 to
$90 billion in 2019, according to Morningstar data. In Europe, where
institutional investors and money managers must now comply with certain
ESG standards, the figure’s likely even higher.
U.S. Investor Appetite for ESG-Oriented Funds Has Surged in Recent Years
U.S. Global Investors
Gold’s “Green Credentials†May Be Understated: RBC
The good news is that gold and gold mining look very attractive from
an ESG perspective. Gold’s “green credentials,†in fact, may be
understated, according to a recent report by the Royal Bank of Canada
(RBC). For one, owning physical gold—in coins, bars or jewelry—has
absolutely no environmental impact and actually increases a portfolio’s
ESG rating.
As for gold mining, the process gives off significantly less
greenhouse gasses (GHG) on a per dollar basis relative to some other
mined products, including aluminum, steel, coal and zinc. What this
means is that gold has a much smaller “carbon footprint†than what some
people might think.
Gold Has Among the Lowest GHG Emissions Per Dollar of Major Mined Products
U.S. Global Investors
Many mining companies are also working to meet some investors’
changing attitudes. IAMGOLD, for instance, is investing heavily in solar
infrastructure, and its mine in Burkina Faso is the world’s largest
hybrid solar/thermal plant, according to RBC. Newmont Goldcorp is moving
forward with its “Smart Mine Initiative,†which uses optimizer software
to maximize ore recovery and minimize waste. And Torex Gold has
developed what it calls the “Muckahi Mining System,†which alleges to
limit surface disruption and reduce the use of fossil fuels underground.
In the same report, RBC says it remains “positive on gold,†writing that the metal’s “deep liquidity, near global acceptance and role as a ‘perceived safe haven’ and ‘store of value’ make it very difficult to displace†as an investment.
Posted by AGORACOM
at 2:17 PM on Friday, September 20th, 2019
September 20, 2019) - Affinity Metals Corp. (TSXV: AFF) (“Affinity Metals”) (“the Corporation”) is pleased to report that it has commenced exploration on the Regal Project located approximately 35 km northeast of Revelstoke, British Columbia, Canada. The program will include geological mapping, sampling, and up to 2,000 meters of diamond drilling testing several targets identified in preliminary work. The total amount of drilling in this phase of the program will depend on weather and on evaluating target potential and results as the program progresses. Drilling will begin in the ALLCO area of the property.
The
extensive Regal property package spans 6,700 hectares in the northern
end of the prolific Kootenay Arc and hosts several past producing
small-scale historic mines. From the historic records it appears that
most, and perhaps all, of the known mineralized showings/zones have not
been previously drilled using modern diamond drilling methods.
Preliminary work conducted in the fall of 2018 included collecting a total of 20 grab and chip samples from several different areas on the property including around the old Regal Silver workings, in the Clabon Creek drainage and at a promising showing along a logging road cut several km to the west of the Regal historic workings. The samples returned values as high as 1,890 g/t silver with >20% lead, and 7.63% zinc. A one-meter chip sample from a 4 meter wide galena vein immediately outside the Regal Silver #5 adit yielded 1,040 g/t silver as well as greater than 20% lead and 3,580 g/t (0.358%) zinc. Results for all 20 samples are reported below:
Significantly,
as a result of a recent, severe freshet event that totally scoured the
upper Clabon Creek drainage, a series of numerous large mineralized
boulders were exposed. Planned field work will include examination of
the mineralization and host rock which will be invaluable in identifying
the source of this mineable grade material (photo below). This float
material is present in the creek drainage over a distance of
approximately 3km indicating the strong potential for discovering new
mineralized zones upstream and in the immediate area.
Robert
Edwards, CEO stated: “We are very excited to finally be able to begin
exploration on the Regal Property in a meaningful way. It has taken
considerable time and effort to assemble the vast amounts of historic
geological data that has been accumulated on this project. Combining
that data with our prospecting time spent on the ground to begin to test
the many targets that have been identified should lead to some positive
results for this drill program.”
Property History & Background
The property hosts numerous mineral occurrences including the following past-producing mines:
Snowflake and Regal Silver (Stannex/Woolsey) Mines
The
Snowflake and Regal Silver mines were two former producing mines that
operated intermittently during the period 1936-1953. The last
significant work on the property took place from 1967-1970, when Stannex
Minerals completed 2,450 meters of underground development work and a
feasibility study, but did not restart mining operations. In 1982,
reported reserves were 590,703 tonnes grading 71.6 grams per tonne
silver, 2.66 per cent lead, 1.26 per cent zinc, 1.1 per cent copper,
0.13 per cent tin and 0.015 per cent tungsten (Minfile No. 082N 004 –
Prospectus, Gunsteel Resources Inc., April 29, 1986). It should be noted
that the above resource and grades, although believed to be reliable,
were prepared prior to the adoption of NI43-101 and are not compliant
with current standards set out therein for calculating mineral resources
or reserves. Samples ALLC18-1 to ALLC18-14 inclusive and ALLC18-20 were
taken on and in the vicinity of The Regal/Snowflake historical mine
workings during the 2018 preliminary exploration program.
ALLCO Silver Mine
The
Allco Silver Mine is situated 6.35 Kilometers northwesterly (azimuth
300o) from the above described Snowflake/Regal Mine(s) but still part of
the Affinity claim group.
The
Allco Silver Mine operated from 1936-1937 and produced 213 tonnes of
concentrates containing 11 troy ounces of gold (1.55 g/t), 11,211 troy
ounces of silver (1,637 g/t) and 173,159 lbs of lead (36.9%).
Black Jacket Showing.
The
Black Jacket showing was discovered by routine prospecting during 2008.
Samples taken on the showing are numbered ALLC18-15 to ALLC18-19
inclusive. This is a raw prospect in that no technical work excluding
sampling has been conducted on this showing. The showing is situated
10.3 kilometers westerly (azimuth 281o) from the historical
Snowflake/Regal Mine.
Airborne Geophysics to Guide Future Exploration
An
extensive airborne geophysics survey conducted by Geotech Ltd of
Aurora, Ontario, for Northaven Resources Corp. in 2011, identified four
well defined high potential linear targets correlating with the same
structural orientation as the Allco, Snowflake and Regal Silver mines.
Northaven also reported that the mineralogy and structural orientation
of the Allco, Snowflake and Regal Silver appeared to be similar to that
of Huakan International Mining Inc’s J&L gold project located to the
north, and on a similar geophysical trend line. The J&L is
reporting a NI43-101 compliant resource of 9.9M tonnes containing 2.4M
troz gold equivalent (combined measured, indicated and inferred) and is
reportedly now one of western Canada’s largest undeveloped gold
deposits. Northaven failed in financing their company and conducting
further exploration on the property and subsequently forfeited the
claims without any of the follow up work being completed. Affinity
Metals is in the fortunate position of benefitting from this significant
and promising geophysics data and associated targets.
The
aforementioned Northaven airborne geophysical survey conducted at a
cost of $319,458.95 in August of 2011 is described in The BC Ministry of
Energy, Mines and Petroleum Resources Assessment Report #33054. The
results of the survey are competently explained and illustrated by
professionals on You Tube at: https://www.youtube.com/watch?v=GX431eBY_t0
Affinity
Metals has successfully obtained a 5 Year Multi-Year-Area-Based (MYAB)
exploration permit which includes approval for 51 drill sites.
Qualified Person
The
qualified person for the Regal Project for the purposes of National
Instrument 43-101 is Frank O’Grady, P.Eng. He has read and approved the
scientific and technical information that forms the basis for the
disclosure contained in this news release.
About Affinity Metals
Affinity Metals is focused on the acquisition, exploration and development of strategic metal deposits within North America.
The Corporation’s flagship project and present focus is the Regal.
On behalf of the Board of Directors
Robert Edwards, CEO and Director of Affinity Metals Corp.
