KRR, GNG, ODV, GOT
Beta Hunt continues to be the gift that keeps on giving for Australian miner Karora Resources aka KRR. The company had already established multiple nickel deposits and two extensive gold zones called the Western Flanks and A Zone. Looking at the latest drilling, it looks like the Fletcher Shear Zone might turn into another extensive gold deposit. Based on drill results like 2.8 g/t Au over 52.0m and 11.8 g/t Au over 2.9m in the main FSZ and 4.7 g/t Au over 11.0m in the footwall, the FSZ noe extends over 500m, with one hole still to drill and four with assays pending from this drilling campaign. Even better, KRR thinks the FSZ will eventually extend to over 2 km. They will also at some point follow up the potential for more nickel deposits above the FSZ.
Message 34376627
One has to wonder what exactly is going on with Golden Goliath Resources aka GNG. They still describe themselves as exploring for gold and silver in Ontario, but... (They also have some PM holdings in Mexico but they never mention those except in passing.)
All we heard about through 2022 and into January 2023 was their Wish Ore Au/Ag prospect in Ontario, but since then, nothing. Then in March in we heard that GNG had acquired an REE prospect in Quebec, and then in June that they had staked three more REE prospects nearby. Then they announced a PP and did a 7 for 1 rollback, and now we hear that they are starting exploration at Manicouagan, which is their collective name for the four REE prospects.
Now the PM prospects are mentioned only in passing, which I am taking to mean they found nothing worthwhile at Wish Ore. One wonders if next we will hear about a name change...
Message 34376677
Osisko Development aka ODV is nothing if not ambitious, as we can see by the release of its Q2 results. First they tell us that they ended the quarter with a cash stash of $86.9M, then in the next sentence that this amount is insufficient to fund their planned activities for the next 12 months, so they are going to need to raise more funds.
Their main focus these days is the Tintic polymetallic project in Utah, where they are advancing a decline in the old Trixie mine which will be completed this quarter. They currently carrying out what they call 'test mining' at Trixie, and did manage to produce 1576 oz Au in Q2, but plan to ramp production up to 500 tpd by upgrading the mill and mine. They are also working on a new Resource Estimate and drilling both underground in the mine as well as exploration drilling elsewhere on the property.
At their Cariboo property in BC, they produced 1010 oz Au by processing ore at a third party's facilities. At this point they are awaiting permits before doing any further development.
At the San Antonio property in Mexico, they produced 1244 oz Au by running stockpiled material through a heap leach. They will finish processing the stockpiles this quarter.
I don't see much sign of the BC and Mexico projects moving forward very quickly, so it is all about Tintic these days, so that is where most of the money will be invested.
Message 34378011
It's a miracle!
Goliath Resources aka GOT actually released a PR concerning drilling on their Golddigger Au/Ag prospect in BC's Golden Triangle that contains actual assays results! For this year's drill campaign!
The assays are pretty darn good. Some of the highlights include 14.85 g/t AuEq (14.66 g/t Au and 11.99 g/t Ag) over 6.00M in the Golden Gate Feeder zone, and 14.01 g/t AuEq (11.39 g/t Au and 148.91 g/t Ag) over 6.09m in the Surebet zone.
However, they do once again go on and on about visible gold in other holes, which is meaningless without supporting assays. And the lack of market response to this PR indicates their strategy of putting out PR filled with breathless prose but without assay results has once again been a failure.
Time for new management at GOT? Certainly time for a new IR strategy...
Message 34379296
Saville continues to opine that we are set for an August bottom in the PoG, but warns that there will probably be a final sharp downward spike before the bottom is set. |
