IAU, GOT, RRI, MIRL
McCoy-Cove is one of three Nevada projects being advanced toward production by i-80 Gold aka IAU. The property is already known to contain some of the highest gold grades in North America, emphatically confirmed by the results in this PR from the Gap Zone, with intercepts like 27.0 g/t Au & 9.2 g/t Ag over 8.0m, 10.6 g/t Au & 5.2 g/t Ag over 38.8m, and 11.1 g/t Au & 3.4 g/t Ag over 20.6 m. Drilling has now moved on to the Helen Zone and will continue through early next year.
Once this drill campaign is complete, IAU will produce a new Resource Report and an FBS. Meanwhile they continue to advance permitting and mine planning as well as hydrological research. Meanwhile, the share price has been hit the recent selloff in PMs and related equities and is now at a good level to start or add to a position.
Message 34408335
Sadly, Goliath Resources aka GOT is back to releasing PRs about its Goldigger Au/Ag prospect in BC's Golden Triangle that do not contain assays. That said, they do appear to have found a third shear that appears to contain mineralization that was fed by the Golden Gate Feeder zone. (Unfortunately they have named this new shear the Golden Gate zone, not to be coffused with the Golden Gate Feeder zone.) Although the core contains abundant visible gold, it will require assays before we really know if this is a significant a discovery as it seems.
Meanwhile, GOT is up strongly on a bad day for PMs. I really do not understand the trading in this stock.
Message 34408384
Prospect generator Riverside Resources aka RRI diversified its holdings from its usual base in Mexico a few years ago by acquiring some gold prospects in Ontario. So far this has been a profitable venture, as they sold on some of the properties and retained the ones they like best.
Now they are establishing a foothold in southern BC, just across the border from the Republic District, a well-known gold camp in northern Washington. Elly covers over 107 sq km and according to the company, is s prospective for low sulfidation epithermal style Au/Ag mineralization. Through exploration, RRI has already identified several prospects along the northern extension ofthe Republic Graben, the first named one being Bunch Grass. Mapping and sampling and field exploration continues on the property.
I expect RRI will continue its usual pattern of doing enough exploration to attract a JV partner to pay for further exploration.
Message 34412353
The IKN newsletter brings us two bits of news about Minera IRL aka MIRL. The first item is positive, that in August they sold 1607 oz Au from their Corihuarmi mine in Peru, up from very low levels the month before. Alas, the second item is very negative. Since MIRL have failed to follow through on the deal they made last year with locals around Corihuarmi, a new blockade to cut off the mine is planned for the end of September. |
