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Excelsior Mining Announces Interim Assay Results from the JCM Infill Drill Program

Excelsior Mining Announces Interim Assay Results from the JCM Infill Drill Program
PR Newswire
PHOENIX, June 22, 2022

PHOENIX, June 22, 2022 /PRNewswire/ – Excelsior Mining Corp. (TSX: MIN) (PFSE: 3XS) (OTCQX: EXMGF) (“Excelsior” or the “Company”) …

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Excelsior Mining Announces Interim Assay Results from the JCM Infill Drill Program

PR Newswire

PHOENIX, June 22, 2022 /PRNewswire/ - Excelsior Mining Corp. (TSX: MIN) (PFSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") is pleased to announce additional assay results from the infill drill program on the Johnson Camp mine pits (JCM) located in Cochise County, southeastern Arizona and provide an operations update.

Drill Program

Due to successful drilling in the NE corner of Burro pit, additional holes were added and those with assays returned are reported below. The improved results will allow the Company to develop a mine plan that focusses on this new, higher-grade, mineralized zone. Permitting of the new leach pad to restart operations is in progress, however the additional drilling and metallurgical testing will push the Company's goal of restarting mining operations at JCM into 2023.

"The recent infill drill results from the Burro pit are better than expected compared to existing data. Zones of significant thickness and grade have been intersected.  We look forward to getting all the results back, completing the geological and resource interpretations and design optimization, with our goal of restarting the JCM open pits as soon as possible," commented Roland Goodgame, Senior Vice President Business Development.

The drilling program is now completed with a total of 43 diamond holes being drilled. Six holes are still awaiting assays. Sequential copper assays for the remaining 37 holes have an average leaching potential exceeding 68% (excludes intervals that contain sulfide mineralization). Assay highlights are included in Table 1 below. Full assays are included in Table 2.

Table 1

Hole ID

From (Ft)

To (Ft)

Interval (Ft)

True Thickness (Ft)

TCu%

Type

Avg. Leaching Potential %

EBD-21

170

187

17

13.0

2.05

S&T

27 %

EBD-22

325

573

248

190.0

0.34

O&T

74 %

EBD-24

223

638

415

383.9

0.42

O&T&S

69 %

EBD-25

247

733

486

486.0

0.42

O&T

74 %

EBD-26

176.5

182

5.5

4.2

4.03

S

11 %

EBD-27

160

550

390

372.5

0.4

O&T

70 %

EBD-33

410

600

190

145.5

0.53

O&T

89 %

EBD-34

395

600

205

157.0

0.36

O&T

77 %

EBD-35

397

547

150

114.9

0.42

T

91 %

Mineralized Zone: O = Oxide, T = Transition, S = Sulfide.  TCu% = Total Copper %

The leaching potential of copper mineralization is defined as acid soluble copper (AsCu) plus sodium cyanide soluble copper (CNCu) divided by total copper (TCu).

All samples are prepared from manually split or sawn PQ or HQ core sections on site in Arizona. Drill core samples are then sent to Skyline Assayers & Laboratories in Tucson, Arizona for Total Copper and Sequential Copper analyses. Standards, blanks, and duplicate assays are included at regular intervals in each sample batch submitted from the field as part of an ongoing Quality Assurance/Quality Control Program. Pulps and sample rejects are stored by Excelsior for future reference.

Table 2

Hole ID

From (Ft)

To (Ft)

Interval (Ft)

True Thickness (Ft)

TCu%

Type

Avg. Leaching Potential %

EBD-09

15

25

10

7.7

0.12

O

92 %


75

175

100

76.6

0.22

O&S

41 %

EBD-17

128

158

30

23.0

0.16

T&S

31 %


208

330

122

93.5

0.3

S&T&O

27 %

EBD-18

80

90

10

9.9

0.25

O

92 %


160

290

130

128.1

0.28

T&S

61 %

EBD-19

0

80

80

61.3

0.24

O

71 %


80

150

70

53.6

0.24

O&S

29 %

EBD-20

190

230

40

30.6

0.57

S

14 %


250

260

10

7.7

0.19

T&S

42 %


270

290

20

15.3

0.16

O

75 %

EBD-21

40

130

90

68.9

0.2

O

70 %


170

187

17

13.0

2.05

S&T

27 %

EBD-22

30

110

80

61.3

0.33

O

73 %


130

204

74

56.7

0.36

O&T

58 %


244

254

10

7.7

0.21

T

48 %


264

274

10

7.7

0.13

O&T

77 %


284

295

11

8.4

0.18

O&T

89 %


325

573

248

190.0

0.34

O&T

74 %

EBD-24

55

65

10

9.3

0.17

O

76 %


115

183

68

62.9

0.18

O

72 %


223

638

415

383.9

0.42

O&T&S

69 %

EBD-25

113

133

20

20.0

0.22

O

84 %


167

177

10

10.0

0.17

O

84 %


247

733

486

486.0

0.42

O&T

74 %

EBD-26

90

100

10

7.7

0.16

O

94 %


120

130

10

7.7

0.24

O

88 %


176.5

182

5.5

4.2

4.03

S

11 %


190

200

10

7.7

0.66

O&T

77 %


230

283.5

53.5

41.0

0.24

O

75 %

EBD-27

20

80

60

57.3

0.63

O

95 %


160

550

390

372.5

0.4

O&T

70 %

EBD-29

110

120

10

7.7

0.17

O

82 %


147

210

63

48.3

0.36

O

56 %


240

280

40

30.6

0.21

T

71 %

EBD-31

40

100

60

46.0

0.4

O

50 %


140

170

30

23.0

0.28

O

54 %

EBD-32

30

50

20

20.0

0.28

O

85 %


68

78

10

10.0

0.17

O

88 %


98

108

10

10.0

0.46

O

63 %


128

138

10

10.0

0.18

O

63 %


158

173

15

15.0

0.24

O

79 %

EBD-32A

24

44

20

20.0

0.34

O

85 %


94

104

10

10.0

0.18

O

61 %


124

162

38

38.0

0.43

O

44 %

EBD-33

60

70

10

7.7

0.42

O

95 %


100

110

10

7.7

0.12

O

97 %


200

235

35

26.8

0.39

O

59 %


255

265

10

7.7

0.38

O

28 %


275

285

10

7.7

0.68

O

76 %


295

325

30

23.0

0.33

O

62 %


345

355

10

7.7

0.2

O&T

61 %


385

402

17

13.0

0.56

O

59 %


410

600

190

145.5

0.53

O&T

89 %

EBD-34

130

140

10

7.7

0.37

O

83 %


150

165.5

15.5

11.9

0.45

O

71 %


305

325

20

15.3

0.37

O

42 %


395

600

205

157.0

0.36

O&T

77 %

EBD-35

35

45

10

7.7

0.14

O

76 %


295

315

20

15.3

0.32

O&T

37 %


397

547

150

114.9

0.42

T

91 %

EBD-36

13

30

17

13.0

0.63

O

90 %


76

90

14

10.7

0.65

O

46 %


100

120

20

15.3

0.32

O

39 %


140

150

10

7.7

0.46

O

40 %


160

170

10

7.7

0.32

O

68 %


250

260

10

7.7

0.17

O&T

72 %


336

350

14

10.7

0.19

O&T

74 %

EBD-37

10

190

180

137.9

0.27

O&T

78 %

Mineralized Zone: O = Oxide, T = Transition, S = Sulfide.

The Johnson Camp Mine has historically been an open pit, heap leach operation since Cyprus Minerals opened the property in the 1970's. The operation includes two open pits, a two-stage crushing-agglomerating circuit, a fully functioning SX-EW plant capable of producing 25 million pounds of cathode copper per year, a complete set of PLS and raffinate ponds, and full infrastructure (ancillary facilities, access, power, water, and communications).

Operations Update

Excelsior is also providing an update on operations and future plans. Excelsior's near-term focus is on the following:

  • Continuing to evaluate the recent drill results and development of a mine plan for Johnson Camp that targets the higher-grade section to maximize cashflows at the start of operations. As noted above, permitting of the new leach pad to restart operations is in progress and the Company's goal is to restart mining operations at JCM in 2023 assuming mine planning demonstrates an economic operation.
  • Continuing to investigate the key recommendations from the March 2022 Gunnison project Pre-feasibility Study Update ("PFS"), including conducting experimentation to ensure that neutralized raffinate is effective in dissolving CO2 in the subsurface and evaluating a scope of work and bid package to select a water treatment vendor to design the water treatment system. Selection criteria will be focused on rapid, low-cost solutions to demonstrate that the technology is effective in solving the wellfield challenges.
  • Planning for well stimulation trials to be undertaken to determine if the technique(s) have the potential to alleviate or solve CO2 blocking, improve connectiveness, and increase flow rates and sweep efficiency. The results of well stimulation have the potential to reduce the need for raffinate neutralization or change the design criteria for the neutralization plant, which could result in significant cost savings.
  • The Cochise Mining District (Johnson Camp Mine area) has enjoyed a long history of underground and open pit operations (Cu, Zn, Pb and Ag), with little sophisticated analysis of the development potential of the entire camp. Excelsior intends to undertake a more comprehensive evaluation of the oxide and sulfide potential of its mineral resource and mining assets.
  • Whilst water flushing activities in the wellfield continue to show flow improvements on individual wells, the Company will still need to implement the solutions from the PFS to remediate the entire wellfield. Therefore, in order to conserve cash and maintain a robust balance sheet, Excelsior is reducing its workforce and putting the wellfield on reduced operation by temporarily stopping acid injection whilst continuing recovery and compliance to ensure underground solutions are managed and controlled. Wellfield operations are not currently cashflow positive, and these initiatives will provide additional cash and management bandwidth to focus on the key priorities listed above.

QUALIFIED PERSON

Excelsior's exploration work on the Johnson Camp mine is supervised by Stephen Twyerould, Fellow of AUSIMM, President and CEO of Excelsior and a Qualified Person as defined by NI 43-101. Mr. Twyerould has reviewed and is responsible for the technical information contained in this news release. Mr. Twyerould has verified the data disclosed in this news release, including sampling, analytical and test data underlying the information disclosed in this news release. Mr. Twyerould has verified that the results were accurate from the official assay certificates provided to Excelsior.

ABOUT EXCELSIOR MINING

Excelsior "The Copper Solution Company" is a mineral exploration and production company that owns and operates the Gunnison Copper Project in Cochise County, Arizona. The project is a low cost, environmentally friendly in-situ recovery copper extraction project that is permitted to 125 million pounds per year of copper cathode production. Excelsior also owns the past producing Johnson Camp Mine and a portfolio of exploration projects, including the Peabody Sill and the Strong and Harris deposits.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the intention to mine Johnson Camp and future production therefrom; (ii) permitting timelines; (iii) the development timeline to mine Johnson Camp; (iv) details of future operational plans including implementation of recommendations from the 2022 pre-feasibility study and wellfield stimulation trials.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the availability of financing to implement the Company's operational plans, the estimation of mineral resources and mineral reserves, the realization of resource and reserve estimates, expectations and anticipated impact of the COVID-19 outbreak, copper and other metal prices, the timing and amount of future development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs (including the price of acid), the availability of labour, material and acid supply, receipt of and compliance with necessary regulatory approvals and permits, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the construction and operation of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined including the possibility that mining operations may not be sustained at the Gunnison Copper Project, risks relating to variations in mineral resources and reserves, grade or recovery rates, risks relating to the ability to access infrastructure, risks relating to changes in copper and other commodity prices and the worldwide demand for and supply of copper and related products, risks related to increased competition in the market for copper and related products, risks related to current global financial conditions, risks related to current global financial conditions and the impact of COVID-19 on the Company's business, uncertainties inherent in the estimation of mineral resources, access and supply risks, risks related to the ability to access acid supply on commercially reasonable terms, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the construction or mining process, regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests, environmental risks and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.

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SOURCE Excelsior Mining Corp.

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Economics

The One Housing Chart That Shows A ‘Buyer’s Market’ Has Returned

The One Housing Chart That Shows A ‘Buyer’s Market’ Has Returned

The red hot pandemic-era housing market is cooling as historically tight…

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The One Housing Chart That Shows A 'Buyer's Market' Has Returned

The red hot pandemic-era housing market is cooling as historically tight available inventory shows signs of reversing. 

An affordability crisis has removed millions of new home buyers as the number of active US listings soared 18.7% in June from a year earlier, the most significant increase in Realtor.com's data going back to 2017, according to Bloomberg. The days of insane bidding wars, waiving home inspections, and putting in an offer 20% or more over the list price appear to be over. In other words, a buyer's market could be emerging. 

"While we anticipate that more inventory will eventually cool the feverish pace of competition, the typical buyer has yet to see meaningful relief from quick-selling homes and record-high asking prices," said Danielle Hale, chief economist for Realtor.com. 

Austin, Texas; Phoenix, Arizona; and Raleigh, North Carolina saw active listings more than double from a year ago. Nashville, Tennessee, active listings jumped 86%, and 72% in the Riverside, California. 

The Federal Reserve's most aggressive tightening campaign sent the 30-year fixed-loan mortgage rate from 3% to over 6% this year (back in March, we warned coming rate explosion would trigger a housing affordability crisis), removing millions of new home buyers who can't afford the cost of homeownership as the median existing-home sales price was around $407k in May. 

Even though inventory is historically tight, supply is expected to increase in markets across the country as demand for loan applications among prospective buyers slumps. Fewer buyers equal more inventory. 

The takeaway is that inventory is rising as homes stay on the market longer because demand evaporated thanks to the housing affordability crisis -- this could mean a housing top is nearing. 

Tyler Durden Thu, 06/30/2022 - 18:50

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States Need To Avoid ‘Cures’ That Can Make Inflation Worse

States Need To Avoid ‘Cures’ That Can Make Inflation Worse

Authored by Regina M. Egea and Danielle Zanzalari via RealClearPolicy.com,

Across…

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States Need To Avoid 'Cures' That Can Make Inflation Worse

Authored by Regina M. Egea and Danielle Zanzalari via RealClearPolicy.com,

Across the United States, state governments are awash in cash. In a sharp contrast, American taxpayers are enduring a rate of inflation unseen in four decades, with the costs of everything from food to gasoline at record highs.

In our home state of New Jersey, Trenton is looking at an unprecedented surplus of $8 billion through a combination of increased tax revenue, federal pandemic aid and borrowing.

A natural impulse among residents and policymakers is to offer residents “relief” in the form of rebate checks.

The reality is that relying exclusively on rebates or direct cash transfers to individuals will only lead to more inflation as this puts more money in consumers’ hands exacerbating the same problem as today - too many dollars chasing too few goods.

Rather, it is prudent that states focus on long-term investment and responsible budgeting to ensure economic growth now and in the future. This is especially important in high tax, big spending states due to the greater flexibility in work arrangements that have exposed the reality that wealth is mobile.

With more residents fleeing high tax states to low tax states, states will need to reevaluate their tax and regulatory climate to stay competitive. 

Regulation can raise the costs for consumers and slow job growth. A series of studies shows the regulation raises prices and worsens poverty.

Working with local governments to revisit restrictive laws that contribute to higher housing prices, such as building height restrictions and zoning rules, as well as removing unnecessary restrictions on business operations will lead to more economic growth.

Another way states can aid productivity and long-term economic growth with their temporary budget surplus, is to fund training programs for middle-skilled jobs.

Nearly every industry has experienced labor shortages and that reality is especially acute in trades like auto, refrigeration, HVAC, electrical, welding, and manufacturing.

States can invest in these skills through high school and vocational school programs. With college borrowing costs astronomically high, this encourages individuals to pursue careers that are lucrative and budget friendly, as well as fill the over 75,000 job openings that our state of New Jersey is projected to need in just a few years.

To further long-term economic growth many states should also concentrate on fixing their unfunded pension liabilities for public employees. This impacts red and blue states alike, with massive liabilities in California ($1.53 trillion), Illinois ($533.72 billion), Texas ($529.70 billion), New York ($508.70 billion) and Ohio ($429.53 billion). Here in New Jersey, our liability is nearly $40,000 for every resident of the state, which can dramatically deter future growth. Beyond using some of states’ budget surplus to shore up pension liabilities, states should move public employees to defined contribution plans, which are used by more than 100 million Americans. These are found to have better investment returns than state-wide pension plans and cost taxpayers less.

Our final recommendation is perhaps our most important: Save for a rainy day. If the U.S. economy enters into a recession, this will mean fewer jobs and less tax revenue for states. To prepare for the future when states again face a budget shortfall, which may be sooner than we think, states should follow best practices of reserving 10% of their budget in a rainy day fund, to sustain essential programs should a downturn occur in the future.

As state leaders consider their budgets, they should focus on long-term economic growth initiatives. Proposals like funding middle-skilled job trainings ensure workers are ready for the next decade, whereas eliminating unnecessary regulations and focusing on pro-growth tax reforms encourages residents to build businesses and create jobs. Lastly, taking care of state finances by properly funding state employees’ retirement plans and saving for a rainy day will ensure that no state is left behind in the next economic downturn.

Tyler Durden Thu, 06/30/2022 - 17:50

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Aging-US | Time makes histone H3 modifications drift in mouse liver

BUFFALO, NY- June 30, 2022 – A new research paper was published in Aging (Aging-US) on the cover of Volume 14, Issue 12, entitled, “Time makes histone…

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BUFFALO, NY- June 30, 2022 – A new research paper was published in Aging (Aging-US) on the cover of Volume 14, Issue 12, entitled, “Time makes histone H3 modifications drift in mouse liver.”

Credit: Hillje et al.

BUFFALO, NY- June 30, 2022 – A new research paper was published in Aging (Aging-US) on the cover of Volume 14, Issue 12, entitled, “Time makes histone H3 modifications drift in mouse liver.”

Aging is known to involve epigenetic histone modifications, which are associated with transcriptional changes, occurring throughout the entire lifespan of an individual.

“So far, no study discloses any drift of histone marks in mammals which is time-dependent or influenced by pro-longevity caloric restriction treatment.”

To detect the epigenetic drift of time passing, researchers—from Istituto di Ricovero e Cura a Carattere Scientifico, University of Urbino ‘Carlo Bo’, University of Milan, and University of Padua—determined the genome-wide distributions of mono- and tri-methylated lysine 4 and acetylated and tri-methylated lysine 27 of histone H3 in the livers of healthy 3, 6 and 12 months old C57BL/6 mice. 

“In this study, we used chromatin immunoprecipitation sequencing technology to acquire 108 high-resolution profiles of H3K4me3, H3K4me1, H3K27me3 and H3K27ac from the livers of mice aged between 3 months and 12 months and fed 30% caloric restriction diet (CR) or standard diet (SD).”

The comparison of different age profiles of histone H3 marks revealed global redistribution of histone H3 modifications with time, in particular in intergenic regions and near transcription start sites, as well as altered correlation between the profiles of different histone modifications. Moreover, feeding mice with caloric restriction diet, a treatment known to retard aging, reduced the extent of changes occurring during the first year of life in these genomic regions.

“In conclusion, while our data do not establish that the observed changes in H3 modification are causally involved in aging, they indicate age, buffered by caloric restriction, releases the histone H3 marking process of transcriptional suppression in gene desert regions of mouse liver genome most of which remain to be functionally understood.”

DOI: https://doi.org/10.18632/aging.204107 

Corresponding Author: Marco Giorgio – marco.giorgio@unipd.it 

Keywords: epigenetics, aging, histones, ChIP-seq, diet

Sign up for free Altmetric alerts about this article:  https://aging.altmetric.com/details/email_updates?id=10.18632%2Faging.204107

About Aging-US:

Launched in 2009, Aging (Aging-US) publishes papers of general interest and biological significance in all fields of aging research and age-related diseases, including cancer—and now, with a special focus on COVID-19 vulnerability as an age-dependent syndrome. Topics in Aging go beyond traditional gerontology, including, but not limited to, cellular and molecular biology, human age-related diseases, pathology in model organisms, signal transduction pathways (e.g., p53, sirtuins, and PI-3K/AKT/mTOR, among others), and approaches to modulating these signaling pathways.

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