SNAG, HMLO, NRN, WGX, TECT
Silver North Resources aka SNAG released an update on exploration of several of its Yukon properties. At Tim, which is JVed to Coeur Resources, which runs the nearby Silvertip mine, six holes were drilled which contained evidence of CRD mineralization similar to that being mined at Silvertip, indications promising enough that Coeur added extra geophysics to set up next year's drilling. Meanwhile assays are pending for Tim even as SNAG moves the drill rig to its 100%-owned Haldane prospect in the Keno silver district.
Message 34810225
For the last number of years, Hemlo Explorers aka HMLO has been concentrating on several properties in the Hemlo area in Ontario. Now they have expanded their focus with the announced purchase of a private company which owns six underexplored gold prospects in Newfoundland, most of them on the vicinity of NFG's Queensway project. And along with the purchase comes a new VP Exploration with much experience in the area.
The main prospect acquired is the Gold Anchor property, which comprises 533 sq km and is host to more than 50 km of strike length very similar to that which hosts the mineralization at Queensway yet has barely been explored, with no drilling so far.
I expect Gold Anchor to become the main focus from here on for HMLO.
Message 34810363
Northern Shield Resources aka NRN released some results from trenchhing at their Root & Cellar prospect in Newfoundland. The headline is all about high grade samples and the appearance of visible gold, both of which experienced folks know mean little on their own. More interesting is discussion of a new approach involving potassium/aluminum ratio which indicates the Conquest zone stretches more than 750 metres. Once NRN has completed the processing of recently obtained geophysics, drilling will let us know if this is a useful tool.
Message 34810394
West Australian gold miner Westgold Resources aka WGX has continued the flurry of PRs following the recent merger with Karora Resources. Now we hear about the start of mining at the South Junction deposit, part of its Bluebird South mining complex. This deposit is destined to become the chief source of ore feeding into the Bluebird mill. To that end, definition drilling continues at South Junction, yielding assays like 4.93m @ 15.95g/t Au, 6.83m @ 15.31g/t Au, and 3.00m @ 3.65g/t Au, with drilling ongoing.
Mineralization at Bluebird occurs in discrete lobes, with the next one up for exploration being the Polar Star Lode. Drilling has already defined a 600m strike length, which remains open to the south. Drilling will continue at Polar Star with an eye to declare a resource late next year. Most intriguingly, for the the first time deep holes will be drilled under both South Junction and Polar Star. If these hit, it would substantially increase potential resources.
Message 34810412
We finally got some assays from Tectonic Metals aka TECT which is exploring the Falt gold property in Alaska, but these were not from new drill holes but from reanalysis of four holes drilled more than 20 years ago. The good news is that they say they have discovered that the drilling, which they say was not optimally oriented, did find indications of formerly unknown mineralization that warrants immediate followup. The bad news is that this slow-moving company gave no indication of when that 'immediate' might be. I am not holding my breath.
Message 34810465 |
