TUO x 2, RIO, MTK
Teuton Resources aka TUO has released two recent updates. The first concerns this year's drilling programme at the JVed Treaty Creek project in BC's Golden Triangle. This year's drilling, which is now complete, totalled more than 31km of core, and in this PR we get the assays from seven holes with a number still pending.
These seven holes continue to extend the already enormous Goldstream deposit to the northeast, and continue to find extensive mineralization, including the highest silver assays yet found. topping out at 571 g/t Ag over 1.5m. They also continue to define high grade zones, such as 255.0m @ 1.18 g/t AuEq (1.15 g/t Au, 2.01 g/t Ag, 0.01 % Cu) containing 55.5m grading 3.35 g/t AuEq (3.27 g/t Au, 6.62 g/t Ag, 0.01 % Cu)
The JV partners has already constructed further stepout drill pads to the northeast in preparation for next year's drilling as they continue to search for the limits of Goldstream. Once that is complete, they will focus on drilling up the other deposits on the property leading to an eventual PEA. In the meantime we will continue to get updated Resource Reports.
Message 34438384
TUO also released an update on a number of their other properties, including 100%-owned Big Gold, Eskay Rift, Four J’s, Tennyson and Pearson properties near Treaty Creek, as well as several properties east of Stewart JVed with SVG.V.
On the 100%-owned properties where they are targeting large Cu/Au porphyries, a programme of mapping and sampling concentrated on new areas revealed by the continuing disappearance of glaciers in the area. Assays are pending
The properties JVed with SVG have drawn new interest because they border on recent discoveries in the area by DV and GOT. The companies carried out an extensive programme of mapping and sampling this summer, but so far only a few results have come back from the lab. What they have received so far are promising, so especially if the rest of the assays are as good, I expect exploration to ramp up next year.
Message 34438413
Last weekend the IKN newsletter brought us an update on the appeal process concerning the granting of permits for Rio2 aka RIO to develop their Fenix gold project in northern Chile. Everything is poised and ready to go once the Chilean government issues notice that the hearing will be held, but they are dragging their feet on doing so. This means RIO is still in 'conserve cash' mode, which in turns leads to this announcement that directors and officers of the company continue to take shares in lieu of salaries.
ca.finance.yahoo.com
Galway Gold -- not to be confused with Galway Metals, exploring in the Canadian Maritimes -- had basically gone quiet since 2016, when a new law in Colombia shut down their operations in the highlands. In the time since they have been pursuing compensation under an FTA, a process which has dragged on and on but is finally near the end of the arbitration process.
Most recently, the company changed their name to Montauk Metals aka MTK, and then replaced most of management. Now we get an update on the arbitration process, and it is, well, interesting. The Colombian government has been doing everything they can to drag out the process in the hopes MTK will run out of money, and at this point they have been pretty successful, in that MTK does not have enough on had to cover costs they must pay early in November. To that end, they have announced a PP; I hope the new management is well enough connected to get the PP filled.
Though I am by no means an expert, I do think MTK has a good chance of winning in the end. Heck, they might even get the full $180M they are asking for. Keep an eye on Eco Oro's similar case against Colombia for clues.
Message 34439595 |
