WM, MIRL, MAI, KRR
Even as they continue exploration drilling at their flagship Fenelon Au project in Quebec, Wallbridge Mining aka WM is ramping up operations at the nearby Martineiere project. They recently announced an MRE of 680k Indicated oz and 630k Inferred oz at Martiniere, but hope to grow that substantially as they drill up four known instances of mineralization and a number of grassroots prospects across the property. There will also be new exploration programmes encompassing both geophysics and outcrop sampling as they refine their understanding of the complex geology on the property.
Message 34256223
Peruvian gold miner Minera IRL aka MIRL released results from a drill campaign at its producing Collahuasi mine. The results themselves were promising, finding a number of shallow intercepts grading higher than the existing resource. Alas, this is little more than a diversion, as there was no explanation of the recent significant drop in production at Collahuasi, the company's plunging share price, the looming debt crisis that will take away their most valuable asset at Ollachea, or getting rid of the larcenous management team pillaging the company.
Message 34256238
Mexican gold miner Minera Alamos aka MAI released an update on its producing Santana mine in Sinaloa and the next project in line for construction, Cerro de Oro in Zacatecas.
At Santana, they are drilling up several new prospects. I am looking forward especially to the results from Zata, a pipe that has never been drilled before.
At Cerro de Oro, they have now finished the submission of all permits necessary for construction, and expect to receive the permits in time to build the mine in the first half of next year. In the meantime, they will work on finalizing the financing package. The PEA estimated pre-production capital costs at $28.1M, and based on their track record, I expect MAI to be able to negotiate favourable terms.
Message 34257562
Karora Resources aka KRR's Beta Hunt mine in Australia is the gift that keeps on giving. Since KRR started exploring the property in earnest, they have defined several new nickel zones and two significant shear-hosted gold zones. Based on the latest drill results, including 6.5 g/t Au over 26m and 46.5 g/t over 7.0m, have established the Fletcher shear zone as a new contender. They had already established Fletcher over 0.5 km, but these intersection step out to a potential length of 1.5km, with indications that it may extend up to 2 km, and it remains open at depth too. Drilling is underway to test these possible extensions.
KRR has ambitious plans to increase production significantly over the next few years. The results go a long way towards supporting those plans. It should also be noted that Fletcher is close to existing infrastructure for nickel mining, making for easy access to the ore.
Message 34257640 |
