TORONTO, Jan. 04, 2024 (GLOBE NEWSWIRE) -- One Bullion Ltd. ("One Bullion" or the "Company") is pleased to announce that it has appointed Adam Berk as a director and Chief Executive Officer of the Company. Mr. Berk graduated from the Cornell University with a degree in finance and hospitality management, followed by an MBA from the University of Miami. He founded Global Partners, a metal import business, focusing on international financing and marketing. Most recently, Mr. Berk was President of a renowned nutraceutical and vitamin company where he aided in acquisitions, helped grow the brand and managed the public listing. Mr. Berk's most notable experience also includes over five years as Chairman and CEO of Stem Holdings, three years as CEO of HYD for Men, one of the first niche mass market men's grooming companies which was acquired by private equity, and Co-CEO of Osmio, LLC. Osmio was the first patented food ordering delivery system and a global provider of internet solutions for companies to facilitate the ordering services. Osmio was acquired by SeamlessWeb which was subsequently sold to GrubHub (NASDAQ:GRUB) in 2013.
In connection with the appointment of Mr. Berk, (i) Sheldon Inwentash and Arno Brand resigned as co-Chief Executive Officers of Company; (ii) Mr. Inwentash was appointed as Executive Chairman of the Company; and (iii) Mr. Brand was appointed as Chief Operating Officer of the Company. Mr. Inwentash and Mr. Brand will continue to serve as directors of the Company, together with Mr. Berk and Peter Sheppeard.
One Bullion is also pleased to announce a non-brokered private placement of up to 10,000,000 units (each, a "Unit") at a price of $0.50 per Unit for gross proceeds of up to $5,000,000 (the "Offering"). Each Unit shall be comprised of one Common Share (each, a "Share") in the capital of the Company and one Share purchase warrant (each, a "Warrant"). Each Warrant shall entitle the holder thereof to acquire one additional Share at a price of $0.80 for a period of two (2) years from the date of issuance. In connection with the Offering, the Company may pay certain eligible persons finder's fees of cash and warrants (each, a "Broker Warrant"). Each Broker Warrant shall entitle the holder thereof to acquire one Share at a price of $0.80 per Share for a period of two (2) years from the date of issuance.
The net proceeds from the Offering will be used to fund the Company's upcoming exploration and drilling programs on its 14 licenses comprised of the Kraaipan Gold Project ("Kraaipan") and Northern Gold Project ("Northern"), including Maitengwe and Vumba Gold Projects, and for general working capital purposes. The Company's high-profile projects cover 8,004 km2 in the country of Botswana.
"Mr. Berk's distinguished history of success and substantial experience are accentuated by his previous roles, rendering him extraordinarily suited to steer One Bullion into a new era. The Company holds firm in its belief that Mr. Berk's extensive leadership capabilities will be instrumental in propelling One Bullion's vision, mission, strategy, and shareholder value in alignment with the current strategic plan. His involvement is anticipated to markedly amplify the Company's achievements and success," stated Mr. Inwentash, One Bullion Chairman.
One Bullion is thrilled to share the latest promising gold discoveries and the exploration results from its Vumba Gold Project in Northern Botswana. The discovery of high-grade gold intercepts and extensive drilling indicate significant potential for further expansion. The recent drilling campaign, consisting of 50 drill holes totaling over 12,000 meters, has uncovered several high-grade gold intercepts, showcasing the site's exceptional potential and positioning One Bullion at the forefront of the largest gold mining project in Botswana.
The complete table of drilling results is below, and some key highlights are as follows:
Drilling Campaign: The comprehensive exploration program covered various targets within the Vumba Project, totaling 50 drill holes and over 12,000 meters of drilling, indicating a committed effort to thoroughly understand the site's potential.
Exceptional Gold Grades: The drill results have revealed impressive gold intercepts, including 4.00 meters at 26.86 g/t Au (Drill Hole: SD071), 2.00 meters at 15.63 g/t Au (Drill Hole: SR033), and 2.00 meters at 13.99 g/t Au (Drill Hole: ST011), among others. These high-grade findings suggest a rich gold-bearing zone within the Vumba Project area. (See table below of selected composited assay results from the drill program)
Significant Depth Potential: Deeper intercepts, such as 2.00 meters of 8.35 g/t Au at a depth of 390.00 meters (Drill Hole: ST014), demonstrate the project's potential at various depths.
Newly Identified Zones: The campaign has also led to the identification of new mineralized zones, expanding the known gold-bearing areas within the project.
The Vumba Gold Project's latest drill results are not only encouraging but also indicative of a larger gold system at play. The consistency of high-grade intercepts across different depths and locations, coupled with the discovery of new mineralized zones, suggests a robust and extensive mineralized system. One Bullion's strategic approach to exploration, combining geological expertise with advanced drilling techniques, has been instrumental in these discoveries.
Building on these promising results, One Bullion plans to expand its exploration efforts. The focus will be on further delineating the gold mineralization zones, testing new targets, and potentially increasing the number of drill sites within the project area. The company is optimistic about the potential for resource expansion and the positive impact these findings could have on our understanding of the region's geology.
"Our team is exhilarated by the significant gold intercepts and the extensive drilling coverage at Vumba. These results not only reaffirm the high potential of the Vumba Project but also pave the way for further exploration and development. We are committed to advancing our understanding of this promising region and unlocking its full potential," said Adam Berk, CEO, One Bullion.
One Bullion remains dedicated to responsible and sustainable exploration practices. As we continue to explore and expand the Vumba Gold Project, we look forward to keeping our stakeholders updated on our progress and the exciting opportunities ahead.
Drill Hole
From (m)
To (m)
Interval (m)
Lab Au PPM
Lab Au PPM Labels
SD071
41.00
45.00
4.00
26.86
4.00m @ 26.86 LAB Au_ppm
SR033
23.00
25.00
2.00
15.63
2.00m @ 15.63 LAB Au_ppm
ST011
116.00
118.00
2.00
13.99
2.00m @ 13.99 LAB Au_ppm
SR101
20.00
23.00
3.00
12.23
3.00m @ 12.23 LAB Au_ppm
ST014
390.00
392.00
2.00
8.35
2.00m @ 8.35 LAB Au_ppm
SR052
10.00
11.00
1.00
8.34
1.00m @ 8.34 LAB Au_ppm
SR002
46.00
47.00
1.00
8.05
1.00m @ 8.05 LAB Au_ppm
SR043
18.00
22.00
4.00
7.28
4.00m @ 7.28 LAB Au_ppm
SR113
37.00
39.00
2.00
7.01
2.00m @ 7.01 LAB Au_ppm
SR119
57.00
59.00
2.00
7.00
2.00m @7.00 LAB Au_ppm
SR100
22.00
24.00
2.00
6.30
2.00m @6.30 LAB Au_ppm
SR088
54.00
61.00
7.00
6.30
7.00m @ 6.30 LAB Au_ppm
ST015
48.00
50.00
2.00
4.86
2.00m @4.86 LAB Au_ppm
SR033
16.00
18.00
2.00
4.86
2.00m @4.86 LAB Au_ppm
SR041
3.00
16.00
13.00
4.75
13.00m @ 4.75 LAB Au_ppm
SR105
58.00
59.00
1.00
4.55
1.00m @ 4.55 LAB Au_ppm
SR062
36.00
37.00
1.00
4.35
1.00m @4.35 LAB Au_ppm
SD076
95.00
96.10
1.10
4.19
1.10m @ 4.19 LAB Au_ppm
SR115
71.00
74.00
3.00
4.14
3.00m @ 4.14 LAB Au_ppm
SR090
79.00
83.00
4.00
3.98
4.00m @3.98 LAB Au_ppm
SR033
33.00
37.00
4.00
3.72
4.00m @ 3.72 LAB Au_ppm
SR104
55.00
56.00
1.00
3.32
1.00m @ 3.32LAB Au_ppm
SR109
9.00
10.00
1.00
3.28
1.00m @ 3.28 LAB Au_ppm
SR014
23.00
26.00
3.00
3.23
3.00m @ 3.23 LAB Au_ppm
SR034
39.00
43.00
4.00
3.06
4.00m @ 3.06 LAB Au_ppm
ST015
262.00
264.00
2.00
3.00
2.00m @3.00 LAB Au_ppm
ST015
106.00
112.00
6.00
2.98
6.00m @2.98 LAB Au_ppm
SR096
54.00
56.00
2.00
2.88
2.00m @ 2.88 LAB Au_ppm
SD070
23.00
23.84
0.84
2.81
0.84m @ 2.81 LAB Au_ppm
SR095
44.00
46.00
2.00
2.76
2.00m @ 2.76 LAB Au_ppm
SR050
0.00
1.00
1.00
2.59
1.00m @ 2.59 LAB Au_ppm
SD074
89.33
93.00
3.67
2.53
3.67m @ 2.53 LAB Au_ppm
SR032
4.00
5.00
1.00
2.52
1.00m @ 2.52 LAB Au_ppm
SD075
30.50
31.00
0.50
2.48
0.50m @ 2.48 LAB Au_ppm
SR093
10.00
13.00
3.00
2.22
3.00m @ 2.22 LAB Au_ppm
ST013
140.00
146.00
6.00
2.21
6.00m @2.21 LAB Au_ppm
SR114
55.00
58.00
3.00
2.20
3.00m @ 2.20 LAB Au_ppm
SR096
73.00
77.00
4.00
2.17
4.00m @2.17 LAB Au_ppm
SR103
50.00
52.00
2.00
2.16
2.00m @2.16 LAB Au_ppm
ST013
148.00
150.00
2.00
2.05
2.00m @ 2.05 LAB Au_ppm
SR088
62.00
64.00
2.00
2.01
2.00m @ 2.01 LAB Au_ppm
ST007
12.00
14.00
2.00
1.93
2.00m @ 1.93 LAB Au_ppm
SR102
41.00
43.00
2.00
1.81
2.00m @ 1.81 LAB Au_ppm
SR098
97.00
104.00
7.00
1.80
7.00m @ 1.80 LAB Au_ppm
SR097
84.00
85.00
1.00
1.80
1.00m @ 1.80 LAB Au_ppm
SR083
5.00
28.00
23.00
1.74
23.00m @ 1.74 LAB Au_ppm
SR108
27.00
39.00
12.00
1.73
12.00m @ 1.73 LAB Au_ppm
SR033
27.00
31.00
4.00
1.71
4.00m @ 1.71 LAB Au_ppm
SR109
85.00
86.00
1.00
1.68
1.00m @ 1.68 LAB Au_ppm
SR033
39.00
42.00
3.00
1.59
3.00m @ 1.59 LAB Au_ppm
SR003
49.00
51.00
2.00
1.53
2.00m @ 1.53 LAB Au_ppm
SR002
0.00
2.00
2.00
1.46
2.00m @ 1.46 LAB Au_ppm
SR006
0.00
10.00
10.00
1.45
10.00m @ 1.45 LAB Au_ppm
SR064
52.00
54.00
2.00
1.45
2.00m @ 1.45 LAB Au_ppm
SR034
46.00
50.00
4.00
1.44
4.00m @ 1.44 LAB Au_ppm
SR037
35.00
37.00
2.00
1.44
2.00m @ 1.44 LAB Au_ppm
SR084
30.00
47.00
17.00
1.41
17.00m @ 1.41 LAB Au_ppm
SD073
75.00
76.97
1.97
1.40
1.97m @ 1.40 LAB Au_ppm
SR005
16.00
28.00
12.00
1.39
12.00m @ 1.39 LAB Au_ppm
SR086
69.00
82.00
13.00
1.37
13.00m @ 1.37 LAB Au_ppm
SR051
0.00
7.00
7.00
1.32
7.00m @ 1.32 LAB Au_ppm
SD075
98.56
99.00
0.44
1.32
0.44m @ 1.32 LAB Au_ppm
SR089
60.00
61.00
1.00
1.31
1.00m @ 1.31 LAB Au_ppm
SR004
28.00
47.00
19.00
1.30
19.00m @ 1.30 LAB Au_ppm
SR036
0.00
1.00
1.00
1.29
1.00m @ 1.29 LAB Au_ppm
SR006
45.00
49.00
4.00
1.26
4.00m @ 1.26 LAB Au_ppm
SR018
35.00
39.00
4.00
1.22
4.00m @ 1.22 LAB Au_ppm
SR012
0.00
2.00
2.00
1.22
2.00m @ 1.22 LAB Au_ppm
SR067
8.00
10.00
2.00
1.20
2.00m @ 1.20 LAB Au_ppm
ST013
170.00
172.00
2.00
1.18
2.00m @ 1.18 LAB Au_ppm
SR113
15.00
17.00
2.00
1.15
2.00m @ 1.15 LAB Au_ppm
SR113
55.00
57.00
2.00
1.15
2.00m @ 1.15 LAB Au_ppm
SR113
52.00
56.00
4.00
1.14
4.00m @ 1.14 LAB Au_ppm
SR109
19.00
22.00
3.00
1.14
3.00m @ 1.14 LAB Au_ppm
ST026
158.00
176.00
18.00
1.14
18.00m @ 1.14 LAB Au_ppm
SD070
12.00
17.00
5.00
1.13
5.00m @ 1.13 LAB Au_ppm
SR112
21.00
24.00
3.00
1.13
3.00m @ 1.13 LAB Au_ppm
SR107
8.00
1.00
5.00
1.13
5.00m @ 1.13 LAB Au_ppm
SR085
38.00
64.00
26.00
1.11
26.00m @1.11 LAB Au_ppm
SR056
38.00
39.00
1.00
1.09
1.00m@ 1.09 LAB Au_ppm
SR007
28.00
29.00
1.00
1.08
1.00m@ 1.08 LAB Au_ppm
SR012
30.00
32.00
2.00
1.06
2.00m @ 1.06 LAB Au_ppm
SR108
66.00
67.00
1.00
1.05
1.00m @ 1.05 LAB Au_ppm
SR016
11.00
15.00
4.00
1.04
4.00m @ 1.04 LAB Au_ppm
SR064
62.00
66.00
4.00
1.03
4.00m @ 1.03 LAB Au_ppm
SR097
44.00
45.00
1.00
1.03
1.00m @ 1.03 LAB Au_ppm
ST001
206.00
208.00
2.00
1.02
2.00m @ 1.02 LAB Au_ppm
SR079
19.00
28.00
9.00
1.02
9.00m @ 1.02 LAB Au_ppm
VUDD001
31.00
39.00
8.00
0.84
8.00m @ 0.84 LAB Au_ppm
and
40.00
46.00
6.00
0.55
6.00m @ 0.55 LAB Au_ppm
VUDD002
59.00
71.00
12.00
0.77
12.00m @ 0.77 LAB Au_ppm
and
103.00
105.00
2.00
1.21
2.00m @ 1.21 LAB Au_ppm
VUDD003
26.00
27.00
1.00
0.60
1.00m @ 0.60 LAB Au_ppm
and
28.00
29.00
1.00
0.64
1.00m @0.64 LAB Au_ppm
and
71.00
72.00
1.00
6.45
1.00m @ 6.45 LAB Au_ppm
and
104.00
107.00
3.00
0.52
3.00m @ 0.52 LAB Au_ppm
and
110.00
115.00
5.00
0.93
5.00m @ 0.93 LAB Au_ppm
and
142.00
145.00
3.00
1.35
3.00m@ 1.35 LAB Au_ppm
VUDD004
59.00
60.00
1.00
0.56
1.00m @0.56 LAB Au_ppm
and
73.00
75.00
2.00
0.52
2.00m @ 0.52 LAB Au_ppm
and
90.00
91.00
1.00
0.59
1.00m @ 0.59 LAB Au_ppm
and
118.00
119.00
1.00
0.53
1.00m @ 0.53 LAB Au_ppm
and
124.00
134.00
10.00
0.79
10.00m @ 0.79 LAB Au_ppm
and
152.00
153.00
1.00
1.11
1.00m @ 1.11 LAB Au_ppm
and
158.00
160.00
2.00
1.34
2.00m @ 1.34 LAB Au_ppm
and
161.00
162.00
1.00
2.85
1.00m @ 2.85 LAB Au_ppm
VUDD005
46.00
47.00
1.00
0.50
1.00m @ 0.50 LAB Au_ppm
and
75.00
76.00
1.00
0.83
1.00m @ 0.83 LAB Au_ppm
VUDD006
20.00
22.00
2.00
0.50
2.00m@ 0.50 LAB Au_ppm
and
47.00
48.00
1.00
0.54
1.00m @ 0.54 LAB Au_ppm
and
56.00
57.00
1.00
0.71
1.00m @ 0.71 LAB Au_ppm
VUDD007
74.00
76.00
2.00
1.12
2.00m @ 1.12 LAB Au_ppm
VUDD008
55.00
48.00
3.00
0.54
3.00m @ 0.54 LAB Au_ppm
VUDD009
38.00
43.00
5.00
0.58
5.00m @ 0.58 LAB Au_ppm
and
72.00
73.00
1.00
1.05
1.00m @ 1.05 LAB Au_ppm
and
95.00
99.00
4.00
0.70
4.00m @0.70 LAB Au_ppm
VUDD0010
50.00
53.00
3.00
0.58
3.00m @ 0.58 LAB Au_ppm
and
54.00
55.00
1.00
6.23
1.00m @ 6.23 LAB Au_ppm
and
56.00
58.00
2.00
9.91
2.00m @ 9.91 LAB Au_ppm
and
78.00
79.00
1.00
0.61
1.00m @ 0.61 LAB Au_ppm
and
82.00
84.00
2.00
1.72
2.00m @ 1.72 LAB Au_ppm
and
97.00
98.00
1.00
0.74
1.00m @ 0.74 LAB Au_ppm
and
102.00
103.00
1.00
1.08
1.00m @ 1.08 LAB Au_ppm
VUDD011
74.00
75.00
1.00
0.51
1.00m @ 0.51 LAB Au_ppm
and
77.00
80.00
3.00
0.70
3.00m @ 0.70 LAB Au_ppm
and
117.00
119.00
2.00
2.72
2.00m @ 2.72 LAB Au_ppm
VUDD012
20.00
21.00
1.00
0.65
1.00m @ 0.65 LAB Au_ppm
and
89.00
92.00
3.00
0.97
3.00m @ 0.97 LAB Au_ppm
and
111.00
114.00
3.00
1.23
3.00m @ 1.23 LAB Au_ppm
and
122.00
123.00
1.00
0.52
1.00m @ 0.52 LAB Au_ppm
and
160.00
163.00
3.00
0.89
3.00m@ 0.89 LAB Au_ppm
VUDD013
194.00
196.00
2.00
0.64
2.00m @ 0.64 LAB Au_ppm
VUDD014
112.00
114.00
2.00
0.66
2.00m @ 0.66 LAB Au_ppm
and
116.00
117.00
1.00
1.87
1.00m @ 1.87 LAB Au_ppm
and
212.00
213.00
1.00
0.84
1.00m @ 0.84 LAB Au_ppm
VUDD015
170.00
174.00
4.00
0.92
4.00m @ 0.92 LAB Au_ppm
and
170.00
182.00
3.00
5.81
3.00m @ 5.81 LAB Au_ppm
and
201.00
205.00
4.00
0.82
4.00m @ 0.82 LAB Au_ppm
and
206.00
212.00
6.00
1.54
6.00m @ 1.54 LAB Au_ppm
and
286.00
289.00
3.00
0.52
3.00m @ 0.52 LAB Au_ppm
VUDD016
57.00
58.00
1.00
0.77
1.00m @ 0.77 LAB Au_ppm
and
117.00
118.00
1.00
0.55
1.00m @ 0.55 LAB Au_ppm
Potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource on One Bullion's properties, and it is uncertain if further exploration will result in any such target being delineated as a mineral resource. For further details please contact:
One Bullion Limited Adam Berk, Chief Executive Officer ALB9370@gmail.com, 917-690-7556
Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including the risk that the Offering may not be completed on the terms currently proposed or at all and risks relating to completion of future exploration activities as currently proposed or at all. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including with respect to the potential size and composition of the Offering. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.