IAU, CCW, GNG, CEE
Last week Nevada gold developer/producer i-80 Gold aka IAU released an economic study on upgrading the mill at Ruby Hill which surprised me by laying out two alternatives: keeping it as a gold mill, or turning it into a facility that produces a Ag/Pb and a Zn concentrate. Today's PR indicates why the latter alternative is in play.
In August IAu announced a discovery hole at the Hilltop zone at Ruby Hill that included and intercept of 515.3 g/t Ag, 28.9% Pb, 10.5% Zn & 0.9 g/t Au over 28.3m. This new batch of holes extends Hilltop in multiple directions, some with even higher grades, particularly Au. In response IAU has expanded this drilling programme again, and are now starting to talk about a world class deposit.
Hilltop is close to the already drilled up polymetallic Blackjack zone and to where IAU will be building to access the gold mineralization elsewhere on the property, so it will be easy to access. Yes, IAU remains primarily a gold developer, but this polymetallic mineralization looks more and more like a (very lucrative) cherry on top.
It should also be noted that there are indications of other similar polymetallic zones at Ruby Hill which will be followed up next year.
Message 34079754
Canada Silver Cobalt Works aka CCW released the assays from another pair of drill holes on its Castle Mine project near. Cobalt, Ontario. Both results were very high grade but narrow -- 4710 g/t Au over 0.53m and 3020 g/t Au over 0.67m -- but real significance lies in the former being only 65m from surface, unlike the rest of the intercepts which are around 500m down. There are also indications that the shallow intercept may be partially the result of a separate mineralizing event which may involve more deposition of gold.
Message 34079444
Golden Goliath aka GNG announced that today a drill will be arriving on its Wish Ore gold prospect in Ontario to drill four holes to test two showings discovered during earlier exploration. Permitting is also underway for more geophysics.
Message 34079491
BMO released a new analyst report on Centamin aka CEE in the wake of a site visit to their primary asset, the Sukari gold mine in Egypt. It is safe to say they were impressed; the title for the report is 'Doing Things The Right Way', and they have raised their target for CEE to $2.03. (It doesn't look like a rise because the report was done in British pounds, so the drop in the pound ate up the entire increase when converted into $C..) The analyst was very impressed by how new management which took over a few years ago has, unlike the previous regime, got the geology right, and also by how they have significantly improved open pit operations. They also note that there are still improvements to be made to the underground operations. A scoping study on the underground operations is due later this month.
Saville opines that gold and gold stocks definitely set an intermediate term bottom in September, but is nearing an short term top and will have to pull back/consolidate before resuming its move upward next year. |
