ODV, ARK, RIO, WM
The day after Osisko Development aka ODV released a PR announcing they had received the last permit needed to construct the Cariboo gold mine in central BC, they released a progress update on the extraction of a 10kt bulk sample. They have completed a 1.2 km long drive to the centre of the ore body so the extraction of the bulk sample will be done within a few weeks. It will then be processed, yielding both some money and information for the updated feasibility study to be released in Q2.
The PR contains some eye candy, shots showing the widespread sulfide mineralization they have come across.
Message 34946682
I've been wondering why we hadn't received any assays from Arras Resources aka ARK's ongoing drilling at its 100%-owned Elemes prospect in Kazakhstan, where they are exploring a large epithermal-porphyry copper/gold system untested by modern techniques. Now we hear that the drilling has been going well, but assays 'have taken much longer than anticipated to be processed and verified', with the first results now not expected till January. Onw does wonder why the delay, and whether it will be repeated with future drilling...
Message 34949732
As expected Rio2 aka RIO released an update on the construction of the Fenix gold mine in northern Chile. Although the financing was only finalized recently, they are moving ahead on a number of fronts, probably the most important of which was the signing of a $49M fixed price contract for the construction of the plant.
Next month we'll get a fuller update with detailed time lines including the first pour, which I expect to be later this year as the build is so straightforward.
Message 34949793
Wallbridge Mining aka WM released the results of a 4-hole drill programme at its Fenelon gold project in Quebec in September. These holes were aimed at definition drilling of the upper high grade zone of the Tabasco deposit. Assays like 5.68 g/t Au over 1.5m and 5.92 g/t Au over 2.7m mean, according to WM, they have achieved their goals.
These results will feed into an updated PEA which is scheduled for release Q1.
Message 34949842
Saville continues to expect gold to bottom out at around $2300 in Q1, along with silver bottoming at $26.50-28 with gold stocks folloingw suit. He also expects copper to set a low in the next two months. |
