TUO, WGX, CLCO, TECT, CEE
And the news just keeps on coming...
Teuton Resources aka TUO and its JV partners released assays from another hole -- well part of it anyway, as they are still waiting for assays from some sections of the hole, as well as the remaining holes on the now-completed drill programme -- and the announced assays continue to improve the economic at the Treaty Creek project in BC's Golden Triangle. So far they have identified 3 gold-rich domains within the Treaty Creek deposit, and this hole extends SC-1, the deepest, by 255 m up-dip and 140 m along strike with an assay of 9.60 g/t AuEq over 13.50m (9.58 g/t Au, 0.44 g/t Ag, 0.01% Cu).
Given the importance of this high grade ore, they are now examining older drill core for evidence of other gold-rich supercells, which Ken Konkin cleverly is describing as the 'vascular system' of Treaty Creek. I expect this vascular system to form the core of the eventual mining plan.
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The event that cemented the success of Karora Resources from Royal Nickel into a West Australia gold miner was the discovery of the Father's Day Vein, which yielded coarse gold, what I call gold boulders, which yielded over 30k oz Au from a very small volume of ore.
These boulders were found in what is known as the A Zone at the Beta Hunt mine. Karora's drilling in 2018 revealed what is now thought to be a similar mineralization event in the parallel Western Flanks structure, yielding unbelievably rich assays like 2.00m @ 1,017.3 g/t Au - including 0.27m @ 7,621 g/t Au and 4.75m @ 395.9g/t Au - including 0.85m @ 2,210g/t Au. Now recent drilling at Western Flanks by Westgold Resources aka WGX following the merger with KRR has revealed the existence of a stratagraphic unit called the Lunnon Sediment which hosted the coarse gold in the A Zone. In fact, WGX suspects that the same sediment may exist throughout their entire Beta Hunt landholdings.
So watch for more news along these lines from WGX in the future. These finds are so lucrative that there is a powerful incentive to uncover as many as possible.
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I will also mention that Culico Metals aka CLCO, which was spun out of the merger between Karora and Westgold, has announced a PP. Since they are only provisionally listed, they need to complete the PP and buy some assets before long.
ca.finance.yahoo.com
At long last, TectonicMetals aka TECT has announced the start of this year's drill programme on its Flat gold project in Alaska. They will be testing extensions of known mineralization at Chicken Mountain and Adit, as well as initial drilling at the Alpha Bowl and Golden Apex.
The other problem with TECT last year was that they took forever to release their drilling results, creating uncertainty among investors as to whether they were hiding something. Hence, it is good to see them say explicitly that the first assays from this drilling are expected in October.
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And just a quick note on Centamin aka CEE. In the wake of yesterday's announcement of a takeout by Anglogold Ashanti, CEE continues to trade about 10% below the offer price on both the LSE and TSX. Skepticism indeed... |
