KTN, RRI, KRR, IAU
Kootennay Silver aka KTN released the gold assays form the last set of holes completed on its Cervantes JV with Aztec Minerals in Sonora, Mexico. The drill programme had several objectives, including defining open pittable mineralization at the California target, which was largely successful even though the ominous word anomalous makes a number of appearances. ('Anomalous' generally translates as very low.) They were also trying to test deeper sulfide mineralization with one hole. They did find higher Cu and Mo values, but again they were 'anomalous'. Aztec is currently doing some mapping and sampling prior to more drilling.
One odd thing, which I have run across before, is why KTN is spending money on the PR given that Aztec is supposed to eventually earn 100% ownership, up from the current 65%, so what benefit does releasing the PR have for KTN? I guess there is a chance that Aztec might not complete the transaction, and maybe there are regulatory issues, but in this situation the company vending the property usually leaves the PRs to the buyer.
Message 33882741
A few years ago prospect generator Riverside Resources aka RRI surprised me by veering from their usual focus on Mexico to pick up a number of Ontario properties. But I shouldn't have doubted these canny operators; they have since sold enough of the properties to pay for the lot while retaining those they think are the most prospective. They are now focusing on Oakes, where their prospecting has established a target they call the HG zone.
Today they released the first five holes of a twelve hole drill programme on a property that has only seen two holes before. The programme is designed to vector in on the main sulphide targets, so it is promising that all five of these holes did intersect gold, albeit over relatively short intervals. Results from the remaining seven holes, which successively move toward the main targets, are pending.
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Australian gold/nickel miner Karora Resources aka KRR announced they have completed a $69M bought deal financing. Given the quality of the company and the relatively low price of the financing, $4.80 per share, it is no surprise that the overallotment was fully taken up. Now fully cashed up, they can concentrate on moving their programmes forward in spite of headwinds caused by Covid and supply chain issues.
ca.finance.yahoo.com
FWIW, RBC released a new analyst report on i-0 Gold aka IAU, rapidly becoming a gold producer in Nevada, rating them at Outperform with a $5 target based on what they plan to achieve by the end of the year. Besides the ramp up in production over the next 3 years, RBC also highlighted the exploration upside, and how the recent Nevada gold transactions involving the likes of KOR and GSV were completed at more than double IAU's valuation per ounce of gold.
Quote: "Given recent Nevada focused M&A, we view IAU as uniquely positioned for sequential step change in growth with manageable capex over the next few years." |
