TUO, GQC, AUX, IPT, NTH, ODV
Teuton Resources aka TUO announced it is drilling on its Ram property, a 50-50 JV with Silver Grail. Ram is located in BC's Golden Triangle adjoining Ascot's Red Mountain project and otherwise surrounded by Goliath Resources' Golddigger property, and is one of a number of properties TUO owns in the area.
Last year's exploration on Ram discovered both the Malachite Au/Cu porphyry zone and the Mitch Au/Ag/Cu VMS zone, both of which are being drilled during the current campaign.
And if weather allows, once the Ram drilling is done TUO will carry out a programme of geophysics on the nearby Clone property, also JVed with SVG. A number of instances of mineralization have been found on Clone during previous exploration, and now TUO also wants to follow up a new idea that mineralization similar to that found on GOT's Golddidger might also be found on Clone.
BTW, TUO staked all those wholly-owned and JVed properties on the included map over 30 years ago.
Message 35238331
A while ago Goldquest Mining aka GQC told us there was going to be an FBS for its Romero Au/Cu project in the Dominican Republic, and now we hear that the FBS is underway, being carried out by two globally reputable firms. This is good news, of course, but what is not so good is that no timeline is given for the completion of that FBS.
Oh well, the studies necessary to complete the FBS should provide regular news flow along the way.
Message 35238285
Golden Cross Resources aka AUX has not yet released any drill results from the first drill campaign targeting its main prospect at Reedy Creek, where two rigs are at work, but now they have announced that they have begin drilling at another high grade prospect on the Reedy Creek tenements and secured access to another for future drilling.
The first new target is Shepherd's Hill, which was mas exploited by artisanal miners in the 1800s but has never been subject to modern exploration techniques. AUX is partway through a planned 2km drill programme comprised of 5 holes beneath the artisanal workings. We won't get assays till next quarter, but apparently the drill core looks good to the geologists.
The second prospect, Welcome Reef, produced 9,000+ oz @ 25 g/t Au in the 1800s, but AUX are the first company to gain access to explore the prospect in over a century. They will carry out a programme of mapping and sampling and geophysics followed by drilling.
I am looking forward to steady flow of assays starting with the Reedy Creek results.
Message 35236937
Mexican silver/zinc miner Impact Silver aka IPT released the Q2 results. Well, kind of...
They were very selective in the information provided, e.g. never mentioned Q2 production but only YTD instead, which is a technique normally used by junior miners to hide bad news. At this point I lack the patience to do the research to dig out the actual Q2 results. To be fair, the numbers for H1 they did provide are an improvement from H1 2024, in spite of some problems with poor ground conditions at the Plomosas Zn mine. And helped by a 5.2M PP during Q2, they ended the quarter with $10.5M in their cash stash and no debt.
My thesis for putting money into IPT is that its share price is very geared to the price of silver, which is expected to top $50 by year end. I do have some long term IPT shares which remain underwater, but the shares I picked up earlier this year are now up about 40%, and I hope to get a double out of them if the PoS does reach that goal.
Message 35236979
Nord Precious Metals aka NTH announced that they had brought in several teams of experts to examine all past drilling at their Castle mine project in Ontario. Out of this effort has come a new geological model which identifies 29 separate veins, and not just isolated veins as previously thought, but as part of a stockwork vein system.
NTH plans to follow up these insights with drilling later this year.
Message 35238427
I managed to sell my remaining warrants for Osisko Development aka ODV at a decent price so I will not be writing about this company any more.
Saville expects that if the Fed priorizes jobs over controlling inflation it will be very bullish for PMs. He expects HUI to correct after it reaches 500 this week but then reach the mid-550s in October. He also says silver remains on course to reach $50 by year end. |
