WGX, WEX, NTH, RSG
Westgold Resources aka WGX released the initial Resource Report for the Fletcher Zone of the Beta Hunt mine they acquired when they merged with KRR, and it's a whopper, almost doubling resources at Beta Hunt. The initial Fletcher Resource includes 3.7Mt @ 2.5 g/t => 295k oz Indicated and 27.3Mt @ 2.3 g/ => 2,03M oz Au Inferred. Note that these numbers already exceed the exploration targets for the whole of Fletcher released by WGX last September.
(Keep in mind that the Australian JORC rules, as opposed to Canadian 43-101 rules, allow the company to combine Inferred and Indicated Resources. Also, when WGX refers to FY26 they mean July 2025 to June 2026. I will translate these to calendar years in the rest of this write-up.)
Yes, that is an excellent development, but it is only the beginning, as it covers less than half of Fletcher's strike length, including only 1 km. Infill drilling has already begun on that 1 km to upgrade the just declared Resources, and in H2, they will also begin drilling the unexplored rest of Fletcher.This drilling is scheduled to be incorporated into an updated Resource Report within a year.
In addition, work has begun at a fault-offset extension of Fletcher called Mason, and as well as on scoping studies for exploiting this new Resources at Fletcher. I expect the approach will be to increase production rather than just extending the mine life.
Message 35174729
Turning to news that apparently no one cares about, Western Exploration aka WEX released an updated Resource Report for the Gravel Creek deposits on its Aura property in Nevada that incorporates the recently discovered Jarbridge deposit.
The Indicated Resource didn't change much, but Inferred gold increased from 367k oz Au to 571k oz Au with a minor increase in grade, while Inferred silver increased from 5.3M oz Ag to 9.7k oz Ag with a 28% increase in the silver grade.
So although WEX was able to significantly increase the Resouces at Aura, there is still not a lot of gold and silver, IMO not enough to attract a buyout or a JV partner. The new geological model developed along with the Resource Report indicates there is considerable potential for further growth, particularly at Jarbridge, but it seems that WEX's main exploration focus this year will be on the other major deposit on Aira, Wood Gulch.
I will give WEX until this gold bull ends with the next year, then likely cut my small position loose for a small loss.
Message 35174827
Nord Precious Metals aka NTH announced they have received a grant to help advance their Re-2Ox technology for process tailings and other metal sources, particularly those contaminated by arsenic.
The main reason to read this PR is how well it lays out what Re-2Ox should be capable of, chiefly dealing with arsenic which is a frequent problem with tailings. So far testing has shown that it can recover cobalt, nickel, and silver while moving the arsenic into a stable compound which can be safely recovered. (By no coincidence, this is exactly what NTH needs to safely process the tailings piles at their Castle Mine property near Cobalt, Ontario.)
This funding will help pay for a 1000 hour test of Re-2Ox at NTH's lab in Cobalt. This testing is seen as crucial for advancing Re-2Ox to commercial status.
Message 35174895
The moment of truth is nigh for Rocky Shore Gold aka RSG, who have essentially bet everything on their recently acquired Newfoundland gold prospects. Mind you, the odds look pretty decent. Exploration since they acquired the properties has revealed a 6km-long target that lies along the Appleton fault that hosts NFG's Queensway deposit just to the north.
The assays will tell the tale.
Message 35175904
Saville continues to expect that gold, silver, and the related stocks will trade much higher by the end of the year, but he also expects some short term weakness. He also sees the opening signs of a multi-year bull in commodities. |
