GNG, TUO, KRR, KTN
Take a look at the NRs put out by Golden Goliath Resources aka GNG in 2021. Almost all of them concern their Kwai gold prospect in Ontario, culminating with a PR entitled 'Golden Goliath Completes First Drill Program on Kwai Property', which in essence said "we didn't find any worthwhile gold but we are very encouraged". Now look at the NRs from 2022. There is nary a mention of Kwai, which they clearly hope we'll forget about. Instead the headlines are all about the Wish Ore gold prospect, also in the Red Lake area.
The latest NR announces a small drill programme, 5 holes totaling 600m, to test the leads their exploration this year has generated. I guess they are a little gun shy after pouring all that time and money into Kwai with nothing in return.
Message 34050759
Teuton Ventures aka TUO announced that drilling has commenced on their JV with Optimum Ventures on the Harry property, in BC's Golden Triangle 30 km SW of the Eskay Creek Mine and located between Ascot Resources' Premier Mine and Newcrest Mining’s Brucejack Mine. If you check out the terms of the JV, OPV really likes this property. In return for 80% of it they have to carry out $9M of exploration and give TUO $1.5M, 4M shares of OPV, and a 2% NSR.
So far exploration has identified multiple zones which this drilling is designed to follow up on: Saw Cut (Au/Ag), BR (Au/Ag), and Swann (Cu/Pb/Zn/Au/Ag). Various types of mineralization, mostly sulphides similar to the mines mentioned above have been identified on the property. Note that Harry is lower altitude so drilling can proceed later into the winter.
Message 34051998
Kaoroa Resources aka KRR has released more excellent drilling results from its Beta Hunt gold/nickel mines in Australia.
First up, we get the second set of assays from the recently discovered Mason zone, and judging by reseults like 12.0g/t g/t over 17.0m, it looks like an important new source of ore. Mason is parallel to and west of the Larkin Zone, and we also get more strong assays from both Larkin and the nearby Cowell zone. All these zones lies south of the Alpha Island fault, an area which looks destined to deliver a lot of valuable ore to their mills.
The Western Flanks zone at Beta Hunt already has a significant high grade gold resource. Infill drilling at Western Flanks results in this NR include 20.2 g/t over 3.5m and 11.5 g/t over 4.7m, but perhaps even more important, deep drilling has extended mineralization 250m below the current resource envelope, and with higher grades like 3.1 g/t over 10.8m to boot.
Ongoing drilling will follow up all these discoveries, eventually leading to an updated Resource Report.
Message 34052041
And I am sorry to report that Kootenay Resources aka KTN has decided to screw current shareholders even more thoroughly by repricing their already too low private placement even lower, to a third of the price they could have set a few months ago. I have lost all respect for this management team.
ca.finance.yahoo.com
Meanwhile, Saville points out that action in both gold and PM stocks remains constructive, but we have not yet received confirmation that the lows set last month were actually intermediate term bottoms. |
