TORONTO,
Feb. 8, 2022 /CNW/ -
Vox Royalty Corp. (TSXV: VOX) (OTCQX:
VOXCF) ("Vox" or the "Company"), a high growth
precious metals focused royalty company, is pleased to provide
recent development and exploration updates from royalty operating
partners Black Cat Syndicate Limited (ASX: BC8) ("Black
Cat"), Gold Standard Ventures Corp. (TSX: GSV) ("Gold
Standard Ventures"), Silver Mines Limited (ASX: SVL)
("Silver Mines"), ValOre Metals Corp. (TSXV: VO)
("ValOre"), and Kalamazoo Resources Limited (ASX: KZR)
("Kalamazoo").
Figure 1: 3D Model of Black Cat's approved 800ktpa processing
facility
Spencer Cole, Chief Investment
Officer stated: "The past month's developments on key royalty
properties continue to support Vox management expectations that
2022 will be a record year for royalty-linked drilling, engineering
studies and first production milestones. Based on operator
guidance, Bulong continues to trend towards commencement of mining
in late-2022, South Railroad's feasibility is expected within the
coming months, the Bowdens' underground expansion scoping study is
on-track for H1 2022 delivery, and multiple resource upgrades are
expected for Pedra Branca, Ashburton and other key properties later
in 2022."
Key Development Updates
- Release of maiden reserves planned for the March 2022 quarter and key work approval permit
granted for the construction of the processing facility at
Majestic, part of the Bulong gold project operated by Black
Cat;
- Positive drill results and upcoming feasibility study release
for the South Railroad gold project in Nevada by Gold Standard Ventures;
- Continued drilling success and upcoming underground scoping
study at the Bowdens project by Silver Mines;
- Resource expansion drilling success at the Pedra Branca
platinum group elements ("PGE") project by ValOre; and
- Strong drilling results and extensive fieldwork, studies and
permitting planned for 2022 at the Ashburton gold project by
Kalamazoo.
Bulong (Pre-Construction) – Maiden Reserves and Work Approval
Permit Granted
- Vox holds a 1% net smelter royalty over part of the Bulong gold
project;
- On January 25, 2022, Black Cat
announced:
-
- Drilling at Majestic in H2 2021 was focussed on upgrading the
underground resource from Inferred to Indicated categories ahead of
planned maiden ore reserves to be released in the March 2022 quarter; and
- It was recently granted the Work Approval Permit for the
construction of the planned 800ktpa processing facility at
Majestic. The only outstanding permit required for mine development
and mill construction is the Tailings Storage Facility
("TSF") mining proposal, which is anticipated in Q1
2022.
- Vox Management Summary: The Bulong gold project in
Western Australia continues to be
derisked towards construction and production with this key
permitting milestone. Following the release of maiden reserves and
the final TSF permit, Vox management expects the Bulong project to
progress into construction over the coming months.
South Railroad (Pre-Feasibility) – Positive Drilling Results
and Q1 2022 Feasibility Study
- Vox holds a 0.633% net smelter royalty with advance minimum
royalty payments over portions of the South Railroad gold project,
which is located in the prolific Carlin
Trend of Nevada;
- Vox has been receiving advance minimum royalty payments from
Gold Standard Ventures since October
2021;
- On January 18, 2022, Gold
Standard Ventures announced:
-
- Positive drill results from eight reverse circulation drill
holes at the Pinion SB Zone ("SB Zone") as part of its 2021
exploration and development program;
- Jason Attew, President and CEO
stated: "We are very encouraged by the 2021 drilling results at
the SB Zone. We are intersecting mineralization closer to surface
than previously estimated and the target remains open to the south
and east. We look forward to continuing to explore this target in
2022 with the goal of adding to the existing Pinion mineral
resource by year-end"; and
- According to Gold Standard Ventures management guidance, the
SB Zone represents the best mine life extension opportunity at the
South Railroad project, with potential production from this zone
being additive to the life of mine plan contemplated in the
upcoming Feasibility Study that is planned to be completed in Q1
2022, as announced on November 10,
2021.
- Vox Management Summary: The impending release of the South
Railroad feasibility study in Q1 2022 and an upgrade of
royalty-linked resources at the SB Zone are key catalysts that have
strong potential to increase the value of Vox's South Railroad gold
royalty. This exciting Nevada-based gold project is rapidly
approaching a near-term construction decision.
Bowdens (Feasibility) – Continued Drilling Success and H1
2022 Underground Scoping Study
- Vox holds a 0.85% gross revenue royalty on the Bowdens
silver-lead-zinc project and a 1% gross revenue royalty over
surrounding regional exploration tenure;
- On January 18, 2022, Silver Mines
announced:
-
- The company currently has four drill rigs on site continuing a
30,000m diamond drilling program. The
results from this drilling program will form the basis for a
Mineral Resource estimate as part of a Scoping Study of underground
mining scenarios;
- The underground Scoping Study is now advanced and is expected
to be completed in the first half of 2022;
- Continued success in drilling extends the Bundarra Zone
mineralisation. Results include quartz sulphide vein style
mineralisation at depth, with significant copper intersected for
the first time at Bowdens
- BD21042:
-
- 2.4m @ 1,520 g/t silver
equivalent (269 g/t silver, 15.80% zinc, 10.33% lead, 0.78% copper
and 0.42 g/t gold) from 297.3m,
- including: 1m @ 2,282 g/t silver
equivalent (398 g/t silver, 22.90% zinc, 16.80% lead, 1.06% copper
and 0.82 g/t gold) from 298m;
- 1.5m @ 869 g/t silver equivalent
(98 g/t silver, 14.49% zinc, 0.20% lead, 0.30% copper and 0.14 g/t
gold) from 327.1m;
- BD21039:
-
- 4.6m @ 338 g/t silver equivalent
(24 g/t silver, 3.67% zinc, 1.47% lead and 0.98 g/t gold) from
406m;
- 8.1m @ 193 g/t silver equivalent
(18 g/t silver, 1.82% zinc, 1.45% lead and 0.41 g/t gold) from
416.9m
- BD21038:
-
- 1m @ 740 g/t silver equivalent
(343 g/t silver, 5.29% zinc and 3.74% lead) from 107m; and
- 6m @ 244 g/t silver equivalent
(26 g/t silver, 2.43% zinc, 2.50% lead and 0.12 g/t gold) from
374m,
-
- including: 1m @ 478 g/t silver
equivalent (59 g/t silver, 3.78% zinc, 6.0% lead and 0.38 g/t
gold).
- Vox Management Summary: These high-grade drilling results
continue to support the potential feasibility of the underground
expansion case at Bowdens, which is already Australia's largest primary silver deposit.
The proposed underground production case is incremental to the
feasibility-stage open pit mine plan which is in the final stages
of permitting.
Pedra Branca (Preliminary Economic Assessment) – Resource
Expansion Drilling Success
- Vox holds a 1% net smelter return royalty on the Pedra Branca
PGE project;
- On December 20, 2021, ValOre
announced:
-
- At the Massapê Zone, 2021 drilling highlights
included:
-
- 11 core holes drilled totalling 1,510m, with all 11 intercepting the target
PGE-bearing ultramafic intrusion;
- PGE intervals returned in 10 of 11 core holes, with highlights
including:
-
- DD21MS09: 21m at 1.82 grams per
tonne palladium + platinum + gold ("g/t 2PGE+Au") from
73m, including 9.1m at 3.0 g/t 2PGE+Au from 84m;
- DD21MS13: 21m at 1.67 g/t 2PGE+Au
from 27m, including 6.6m at 3.22 g/t 2PGE+Au from 29m;
- DD21MS12: 23m at 1.19 g/t 2PGE+Au
from 101m, and 14m at 0.99 g/t 2PGE+Au from 137m including 5.4m
at 2.26 g/t 2PGE+Au from 136.6m;
- At the Santo Amaro South Zone, drilling
highlights included:
-
- 4 holes drilled totalling 300m,
with all 4 intercepting the target PGE-bearing ultramafic
intrusion, including the following highlights:
-
- DD21SAS05: 22m at 1.40 g/t
2PGE+Au from 13m;
- DD21SAS04: 18m at 1.46 g/t
2PGE+Au from 51m, including
9.8m at 2.42 g/t 2PGE+Au from
58m; and
- DD21SAS07: 13m at 1.29 g/t
2PGE+Au from 69m.
- On January 18, 2022, ValOre
announced:
-
- At the Cedro deposit 4 drill holes totalling 332m confirmed the historically reported geology
and returned broad, consistently mineralized PGE intercepts
including:
-
- DD21CD24A: 53m at 1.18 g/t
2PGE+Au from surface, including 7.0m
at 2.64 g/t 2PGE+Au from 44m;
- DD21CD05A: 62m at 0.90 g/t
2PGE+Au from 58m, including
31m at 1.40 g/t 2PGE+Au from
82m;
- DD21CD89A: 52m at 1.03 g/t
2PGE+Au from 19m; and
- DD21CD42A: 70m at 0.71 g/t
2PGE+Au from surface, including 29m
at 1.12 g/t 2PGE+Au.
- Vox Management Summary: ValOre's exploration results are
demonstrating a level of consistency in the proportion of
drillholes hitting economic-width PGE mineralisation, which is very
rare in the mining industry. We remain excited about the potential
increase of the Pedra Branca resource estimate later in
2022.
Ashburton (Exploration) – Strong Drilling Results
- Vox holds a 1.75% gross revenue royalty (>250koz cumulative
production) on the Ashburton gold project;
- On January 20, 2022, Kalamazoo
announced the following results:
-
- At the West Olympus Deposit, drilling has identified two
additional thick mineralised lodes that remain open down plunge
with best intercepts including
-
- KARC0092A: 6m @ 2.84g/t Au from
136m and 19m @ 1.26g/t Au from 196m;
- KARC0091: 10m @ 2.26g/t Au from
123m including 2m @ 4.16g/t Au from 128m;
- KARC0093: 5m @ 3.62g/t Au from
100m and 9m @ 2.26g/t Au from 146m; and
- KARC0090A: 7m @ 2.17g/t Au from
143m
- The recently completed Phase II drilling has extended shallow
gold intercepts 100m to the west of
the West Olympus Deposit with best intercepts including:
-
- KARC0089: 6m @ 1.32g/t Au from
23m;
- KARC0084: 4m @ 1.16g/t Au from
24m including 1m @ 3.17g/t Au from 26m; and
- KARC0083: 3m @ 1.26g/t Au from
15m;
- At the Peake Deposit, shallow gold intercepts have extended the
main lode 200m west beyond the
current resource and identified new sources of oxide gold with best
intercepts including
-
- KADD0001: 1.2m @ 15.15g/t Au from
79m;
- KARC0041: 6m @ 1.43g/t Au from
45m;
- KARC0044: 4m @ 2.01g/t Au from
34m;
- KARC0073: 4m @ 3.14g/t Au from
15m – footwall; and
- KARC0107: 1m @ 11.7g/t Au from
48m – footwall;
- At the Zeus Deposit, extensional exploration drilling has
confirmed gold mineralised lodes further southwest beyond the
current resource with best intercepts including
-
- KARC0121: 9m @ 1.08g/t Au from
177m; and
- KARC0120A: 5m @ 1.69g/t Au from
118m
- Planning is underway for extensive Phase III drilling and
exploration program to commence in early 2022, which will
include:
-
- Release of the remaining regional drilling results of the 2021
Phase II drilling program;
- Assess awaited results for surface soil and rockchip sampling
completed during the fieldwork program across the northern
Diligence Dome;
- Completion of a new Mt Olympus Deposit Metallurgical Scoping
Study;
- Ongoing geological interpretation, modelling and drill hole
targeting exercises;
- Planning and design of proposed 2022 ground and airborne
geophysical surveys;
- Field reconnaissance/mapping campaigns; and
- Cultural heritage clearances and regulatory permittin
- On January 24, 2022, Kalamazoo
announced the following assay results over five regional
"greenfields" prospects:
-
- At the Annie Oakley Prospect:
-
- highly encouraging moderate grade gold intercepts contained
within broad zones of gold anomalism were returned with best
results including: 4m @ 2.67 g/t Au
from 17m (KARC0124); 2m @ 4.09 g/t Au from 57m (KARC0133); and 3m @ 1.63g/t Au from 37m (KARC0126)
- The Annie Oakley drilling results support its exploration
potential to discover additional shallow high-grade oxide gold
resource
- At the largely untested Petra Prospect:
-
- AC drilling discovered a >500m
wide +10ppb Au anomaly within the major northwest striking fault
corridor that hosts the Mt Olympus and Zeus deposits;
- Kalamazoo considers the Petra Prospect to be a high priority
target with the hallmarks of being a significant 'Carlin Type' gold
deposit discovery and will be followed up in 2022; an
- At the St Helens Prospect, AC drilling intersected encouraging
gold anomalism proximal to the West Olympus Deposit with best
results including: 6m @ 2.2g/t Au
from 93m including 1m @ 4.22g/t Au from 96m (KAAC0067); and 4m @ 1.46g/t Au from 76m (KAAC0070).
- Vox Management Summary: Kalamazoo management have previously
disclosed an exploration target for Ashburton of 2Moz – 3Moz and
this drilling success continues to support the likelihood of this
target. The substantial 2022 work program spanning drilling,
resource estimation, metallurgical studies and permitting confirms
Vox management confidence that this large-scale gold project is
rapidly advancing towards development.
Qualified Person
Timothy J. Strong, MIMMM, of
Kangari Consulting LLC and a "Qualified Person" under National
Instrument 43-101 – Standards of Disclosure for Mineral
Projects, has reviewed and approved the scientific and
technical disclosure contained in this press release.
About Vox
Vox is a high growth precious metals royalty and streaming
company with a portfolio of over 50 royalties and streams spanning
eight jurisdictions. The Company was established in 2014 and has
since built unique intellectual property, a technically focused
transactional team and a global sourcing network which has allowed
Vox to become the fastest growing company in the royalty sector.
Since the beginning of 2019, Vox has announced over 20 separate
transactions to acquire over 45 royalties.
Further information on Vox can be found at www.voxroyalty.com.
Cautionary Note Regarding Forward Looking Information
This news release contains certain forward-looking
statements. Any statements that express or involve discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but
not always, using words or phrases such as "expects" or "does not
expect", "is expected", "anticipates" or "does not anticipate"
"plans", "estimates" or "intends" or stating that certain actions,
events or results " may", "could", "would", "might" or "will" be
taken, occur or be achieved) are not statements of historical fact
and may be "forward-looking statements".
The forward-looking statements and information in this press
release include, but are not limited to, summaries of
operator updates provided by management and the potential impact on
the Company of such operator updates, statements regarding
expectations for the timing of commencement of development,
construction at and/or resource production from various mining
projects, expectations regarding the size, quality and
exploitability of the resources at various mining projects, future
operations and work programs of Vox's mining operator partners, the
receipt of future royalty payments derived from various royalty
assets of Vox, anticipated future cash flows and future financial
reporting by Vox, and requirements for and operator ability to
receive regulatory approvals.
Forward-looking statements and information are based on
forecasts of future results, estimates of amounts not yet
determinable and assumptions that, while believed by management to
be reasonable, are inherently subject to significant business,
economic and competitive uncertainties and contingencies.
Forward-looking statements and information are subject to various
known and unknown risks and uncertainties, many of which are beyond
the ability of Vox to control or predict, that may cause Vox's
actual results, performance or achievements to be materially
different from those expressed or implied thereby, and are
developed based on assumptions about such risks, uncertainties and
other factors set out herein, including but not limited to: the
requirement for regulatory approvals and third party consents, the
impact of general business and economic conditions, the absence of
control over the mining operations from which Vox will receive
royalties, including risks related to international operations,
government relations and environmental regulation, the inherent
risks involved in the exploration and development of mineral
properties; the uncertainties involved in interpreting exploration
data; the potential for delays in exploration or development
activities; the geology, grade and continuity of mineral deposits;
the impact of the COVID-19 pandemic; the possibility that future
exploration, development or mining results will not be consistent
with Vox's expectations; accidents, equipment breakdowns, title
matters, labor disputes or other unanticipated difficulties or
interruptions in operations; fluctuating metal prices;
unanticipated costs and expenses; uncertainties relating to the
availability and costs of financing needed in the future; the
inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses, commodity price
fluctuations; currency fluctuations; regulatory restrictions,
including environmental regulatory restrictions; liability,
competition, loss of key employees and other related risks and
uncertainties.
Vox has assumed that the material factors referred to in the
previous paragraph will not cause such forward looking statements
and information to differ materially from actual results or events.
However, the list of these factors is not exhaustive and is subject
to change and there can be no assurance that such assumptions will
reflect the actual outcome of such items or factors. The
forward-looking information contained in this press release
represents the expectations of Vox 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 Vox 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 policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Technical and Third-Party Information
Except where otherwise stated, the disclosure in this press
release is based on information publicly disclosed by project
operators based on the information/data available in the public
domain as at the date hereof and none of this information has been
independently verified by Vox. Specifically, as a royalty investor,
Vox has limited, if any, access to the royalty operations. Although
Vox does not have any knowledge that such information may not be
accurate, there can be no assurance that such information from the
project operators is complete or accurate. Some information
publicly reported by the project operators may relate to a larger
property than the area covered by Vox's royalty interests. Vox's
royalty interests often cover less than 100% and sometimes only a
portion of the publicly reported mineral reserves, mineral
resources and production of a property.
SOURCE Vox Royalty Corp.