SNAG, WGX, TUO
We finally got the assays from the 2024 drill campaign conducted by Coeur Mining on Silver North Resources aka SNAG's Tim prospect in Yukon Territory. Coeur is earning an initial 51% in Tim which can be increased to 80% by reaching certain milestones in terms of cash payments and exploration expenditures.
Tim is located on the road to Coeur's producing Silvertip mine, so it is no surprise that exploration is looking for similar geology to that which hosts Silvertip's CRD deposits, and in that respect the six holes drilled in 2024 were successful. They did find CRD mineralization, with the best assay being 3.39 m of 52.8 g/t Ag, 0.28 g/t Au, 0.11% Pb, and 0.27% Zn, but the most important information collected was about the geology along the Wolf Fault, which is promising enough to get Coeur to commit to more exploration in 2025.
According to SNAG, Coeur thinks they can vector in on exactly what they are looking for this year. Full details on this year's exploration plans will be released in due course.
Message 35146763
One thing I have learned since West Australian gold miner Westgold Resources aka WGX since they merged with KRR and I became a shareholder is that WGX is always the focus of intense speculation and rumout=mongering in Australia. We see this with WGX's latest PR which says that in response to media speculation, they are reiterating that the company is in compliance with continuous disclosure requirements.
That is not to say there might not be some fire under all thatsmoke...
westgold.com.au
In the wake of completing the spinout of Luxor Metals, created to hold a number of their properties in BC's Golden Triangle, Teuton Resources aka TUO released a PR telling us that as the result of a spinout of Luxor shares to TUO shareholders Eric Sprott now owns 22.7% of Luxor.
This reminds us that Sprott still owns a major stake in TUO. I don't mind this as he is generally a strong holder, not prone to dump his shares without careful consideration.
No, the Luxor shares, which will be listed on 'a Canadian stock exchange' in due course, have not shown up in my brokerage account yet.
newsfilecorp.com
Saville opines that silver appears to be primed for an upside breakout. According to him, if break $35 it would likely lead to prices in the $40s within six months and above $50 within a year, and although a pullback to $31 remains possible but is now less likely. He also sees gold stocks as showing signs of resuming an uptrend. He also points out that both palladium and platinum are inexpensive relative to gold and primed to play catch-up. |
