MAI x 2, HMLO, IPT, ARK, IAU, KDK, WM, KTN
Yesterday we learned that Sabre Gold shareholders have overwhelmingly approved their buyout by Minera Alamos aka MAI. This means that MAI will own the Copperstone gold mine in Arizona by the end of the month. I expect the final plan by MAI to bring it back into production will be announced around the same time.
Message 34981818
In addition, MAI announced an agreement to extend the maturity date of a small loan as they and their peers see further signs that under the new president that Mexico's permitting regime is finally starting to loosen up.
finance.yahoo.com
Hemlo Explorers aka HMLO released an update on initial exploration of Gold Anchor, part of the group of prospects in Newfoundland they acquired three months ago. So far they have been able to discover the extension of several trends and faults associated with gold occurrences in that part of Newfoundland, as well as occurrences of visible gold including in multiple boulder fields.
You can practically hear HMLO's geologists rubbing their hands in anticipation as they continue exploration of this large property full of prospects. Expect plenty of news flow to come.
Message 34981825
It is looking like Impact Silver aka IPT has established a second mineralized zone called Mina Juarez at their Plomosas Zn/Pb/Ag mine in Chihuahua, Mexico, as revealed by assays from recent drilling like 14.13% Zn, 1.59% Pb, and 12 g/t Ag over 2.2m including 26.06% Zn, 3.02% Pb, and 23 g/t Ag over 0.9m, plus some very high grade narrow intervals like 30.1% Zn over 1.2m and 30.1% Zn over 1.1m.
IPT is continuing drilling at Mina Juarez while also extending an existing adit to allow them to access the ore for processing. They think this will be the final step in reaching commercial production levels.
Message 34983747
Arras Minerals aka ARK's share price was up by more a third today on the release of assays from their three latest holes drilled into the southern end of the 8km long Berezski target on their Elemes prospect in Kazakhstan. Given it is located near profitable mines processing ore grading 0.5% CuEq, pulling an assay like 261m @ 0.64% CuEq bodes well. Even better, the hole ended in strong mineralization. As well, the type of mineralization found in all three holes is the style of mineralization you find in the pyrite halo surrounding the type of large porphyry systems they are looking for. They're getting close!
These results were from only one of eight identified targets along Berezski , so if they can pull more results like this as exploration continues, not to mention locate the core of the porphyry, this will only be the start for ARK.
Message 34983783
Nevada Gold miner i-80 Gold aka IAU continues forging ahead with its recapitalization plans, which they say will be completed by the end of March. They have reached an agreement with their principal financier, Orion , to extend the maturity date of a convertible loan to the middle of 2026, and also announced a new $10M PP.
I will be glad when the financial wrangling is done and they can get back to mine-building.
finance.yahoo.com
Kodiak Resources aka KDK has announced the commencement of a Resource Estimate at its MPD project in southern BC where they are looking for large porphyries of the type being mined nearby. It is expected The RE will cover seven zones. More drilling this summer will be required to finish defining several of these zones, and we can also expect exploration drilling at other prospects.
siliconinvestor.com
Wallbridge Mining aka WM announced the sale of a non-core property called N2 to FOMO.CN. In fact, it is so non-core it doesn't even appear in my detailed notes on WM. In return , they get $550k over 6 years plus shares in FOMO.
Message 34983833
Kootenay Silver aka KNT reported the latest drill holes from ongoing drilling at the Columba prospect in Chihuahua, Mexico. These holes targets gaps and extensions in and along the D, F, and B veins, and were largely successful based on assays like 210 g/t Ag, 0.1% Pb, and 0.4% Zn, over 32.0m plus 1,440 g/t Ag, 0.46% Pb, and 2.55% Zn over 0.79m.
There are 2km of drilling left in the current campaign, after which a Resource Report will be generated.
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