NRN, KDK, KTN, SNAG
I'd say this is likely a make or break year for Northern Shield Resources aka NRN's hopes for their Root & Cellar prospect in Newfoundland. So far they have established zones of Au/Ag/Te mineralization plus some copper porphyry prospects, but IMO the 5km of drilling that just got underway needs to markedly expand those zones to make further exploration worth the effort.
Message 35169757
Kodiak Copper aka KDK announced the start of this year's exploration on its 344 sq km MPD property in south central BC, where they are looking for Cu/Au porphyries similar to those being mined in the area. This year they are planning 5km of drilling on three of the main targets, plus geophysics and mapping and sampling both in the area of existing targets plus checking out new targets.
We also got more clarity on the upcoming initial Resource Report, or rather Resource Reports, and I am not sure about the approach they have taken. Apparently we are going to shortly get a Resource Report covering the Gate, Ketchan, Man and Dillard zones, and then in the fall after drilling is complete, a separate Resource Report for those three targets
Personally I would have waited and released them as one Resource Report for more impact, but we will see how the staged approach works out.
Message 35169740
When I wrote about Kootenay Resources aka KTN's release of an initial Resource Report for their Columba project in Chihuahua, Mexico, I expressed the hope that they could attract a JV partner to pay for the upcoming work. Judging by today's PR, such a development is not imminent. Instead, they have announced a $12M PP. The price of each unit is okay, around the current share price, but each unit of the PP also includes a half warrant, albeit the warrants have a strike price about 50% higher than KTN's current share price. (The PR gave no indication that any of the warrants will be listed.)
Within a few hours the PP was upsized to $17.4M, i.e. more cash to work with but also more dilution.
Message 35169995
For the first time we get details about Silver North Resources aka SNAG's Veronica property, an Ag/Pb/Zn prospect in Yukon Territory located next to its Tom property, JVed out to Coeur Mining, who run the Silvertip mine 16 km away.
Previous exploration has outlined a 450m by 450m Ag/Pb/Zn anomaly on Veronica. This summer SNAG will be carrying out further exploration on this anomaly, where they hope to find the same type of mineralization found at Silvertip and Tim. In the ideal case it would lead to Coeur entering into a JV on Veronica, and perhaps eventual the buyout of SNAG by Coeur.
Message 35169825 |
