| | | TUO, GOT, CAPT, KDK, EDV, CEE
We already knew the Treaty Creek property in BC's Golden Triangle and controlled by Teuton Resources aka TUO and its JV partners hosted a lot of netal. With the release of an updated Resource Report based on two more years of drilling and and a better understanding of the geology,, the Goldstorm deposit has gotten even bigger. Thanks to a higher cut-off, the AuEq grade has risen by 53% while the total number of AuEq ounces increased by 20% from the last Resource Report.
The Indicated Mineral Resource is now 642Mt containing 23.37M oz AuEq @ 1.13 g/t AuEq, comprised of 18.75M oz Au @ 0.91 g/t, 112M oz Ag @ 5.45 g/t, and 2.18B lb Cu @ 0.15%, while the Inferred Resource is now 234Mt containing 7.35M oz AuEq @ 0.98 g/t AuEq, comprised of 5.54M oz Au @ 0.74 g/t, 45.08M oz Ag @ 5.99 g/t, and 848M lb Cu at 0.16%.
On top of the PMs, Goldstone has now become a monster Cu deposit, with over 3B lb, and since the higher copper grades have only come along lately with that better understanding of the geology, I expect that number to grow considerably with further drilling. And remember that Goldstone remains open to the south, north, northeast, and at depth. This year's drilling programme will concentrate on extending it to the north.
I wonder when we will get an economic study.
Message 34231342
Speaking of the Golden Triangle, there has been an interesting development involving Goliath Resources aka GOT, who are developing a gold/silver deposit on their Golddigger property in the area. They and a number of other similar companies in the area have signed an MOI to develop a hub-and-spoke mill complex at Kitsault, where BC Moly is studying the revival of a part-producing molybdenum mine. The site has grid power and is located on tidewater, within easy access to SE Alaska as well as NW BC. The partners are working with the local First Nations and the provincial government to develop the project, and if they can pull it off it is likely to materially improve the economics of all the partner's deposits.
ca.finance.yahoo.com
Capitan Mining aka CAPT announced they are changing their name to Caitan Silver. As they are keeping the same symbol, this is not consequential, but the reason I draw your attention to this PR is that it contains an excellent summary of what they have found to date at their Cruz de Plata prospect in Durango, Mexico. I look forward to see what they find when they drill the undrilled portion of the strike length.
Message 34230095
Kodiak Copper aka KDK announced they have begun this year's exploration programme at their MPD prospect in south central BC. They have already defined several large copper/gold porphyries of the type being mined not far away, and their aim this year to define at least one more among the 18 target areas they have identified. There will be a special focus on expanding the newly discovered Beyer zone which contains high grade Au and Ag.
Preparatory geophysics will be followed up by 25km of drilling as well as an extensive programme of mapping and sampling.
Message 34231366
West African gold miner Endeavour Mining aka EDV announced they have again begun repruchasing shares. This year's NCIB allows them to buy up to 5% of the current issued and outstanding shares, which amounts to 12,387,688 shares. Under last year's NCIB EDV purchased 3,864,238 shares at an average price of $C27.56.
ca.finance.yahoo.com
FWIW, in the wake of last week's annual report from Centamin aka CEE, BMO released a new analyst report. Citing in line results and newly achieved financial flexibility, they saw the impact as Neutral and kept CEE at Market Perform with a Target $C2.01.
Saville is currently of the opinion that PMs will retrace all or part of the last week's gain, as we are seeing today and that both oil and the commodity complex are fairly close to a low, but will require a multi-moth bottoming process before the cyclical bull resumes later this year. |
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