MAI, AUX, KTRI, Blue Jay Gold
Minera Alamos aka MAI updated its plans for restarting the Copperstone gold mine in Arizona. On the permitting front, an amended Mine Plan of Operations has been submitted and is expected to be approved by year end, by which time other minor permit amendments will also have been granted. In the meantime, development activities authorized by the permits already granted can begin.
At the same time MAI will be concentrating on further refining the engineering and completing the financing, for which they are currently considering several offers.
An important part of the value of the Copperstone land package is the exploration upside which is realized can extend mine life and/or increase production. To that end, four areas close to the existing Resource have been identified and will be explored during construction.
With the Santana mine in Mexico now making money in spite of permit problems and the Cerro de Oro build in Mexico also awaiting permits, MAI's focus will clearly be on Copperstone for the next 18 months or so.
Message 35155525
Golden Cross Resources aka AUX is up big today merely on the announcement that they have started drilling at their Ready Creek gold prospect in Victoria, Australia, located 10kn away from SGXC's ballyhooed Sunday Creek discovery. Imagine what might happen if the drill finds what they are looking for.
The initial 2km of drilling will be shallow holes on the Prince of Wales & Wieneroider Ridge targets, the results of which will be used to guide a further 4 km of drilling in deeper holes. If the assays are good, AUX says they will bring in more rigs later this year.
I expect the robust trading today is the result of Australian punters, perhaps prompted by a NLW. It is not unusual for Australian traders to to enter (or leave) en masse from speculative stock operating down under.
Message 35155542
Kootenay Resources aka KTRI released an update of their Moyie prospect. This is a large property in SE BC on which four separate styles of minerlization containing Au, Pb, Zn, Cu and more have been found. Previous exploration has identified more than a dozen targets. Next up is more geophysics along with mapping and permitting, followed by first pass drilling.
This property, in the vicinity of a number of past and present mines, has the potential to host very large deposits of the type KTRI is looking for. Only the drill will tell...
Message 35155562
Blue Jay Gold, recently spun out by RRI to hold their Ontario gold prospects and not even listed yet, has already signalled that they are ambitious by announced the purchase of the Skukum Au/Ag prospect in Yukon Territory.
Skukum is large, over than 170 sw kn, and already has a resource of over 1M oz AuEq as well existing infrastructure like a camp and access road. It will cost them $600k plus extra payment if Blue Jay can increase the Resource to over 2M oz AuEq, which would be a win-win for both parties.
I look forward to Blue Jay being listed and revealing their plans for exploration. not to mention giving me a chance to buy more shares
Message 35155687 |
