KTN, KTRI, ORS, NTH, SURG
Clearly the market was not impressed with the initial Resource Report for the Columba Ag project in Chihuahua, Mexico delivered by Kootenay Silver aka KTN. The shares were trading down over 7% a few hours after the open.
The grade looks good, at 284 g/t Ag, so presumably the 54M oz of Ag was not enough to impress. The full Inferred resource is 5.92Mt @ 284 g/t Ag, 0.19% Pb, and 0.50% Zn containing 54.1M oz Ag, 25.2M lb Pb, and 65.6M lb of Zn.
One positive is the excellent vein continuity with an average width of 5-6m, but the most important positive is that mineralization remains open in all directions representing excellent opportunities to grow the resource.
Now the question is whether the Resource Report is enough to attract a JV partner to fund further exploration and development. In any case, extensive infill and step-out drilling is already planned.
Message 35168657
In their latest PR, Kootenay Resources aka KTRI 'Announces' the Sleeper-Magnificent-Knapp (SMK) Au/Ag prospect in Central BC. I have not seen mention of this property before in either KTRI's or parent company KTN's communications, but to be fair, between them they own a lot of properties, so I guess they either carved it out of another project or just had it in inventory without ever mentioning it.
So far exploration has identified two vein systems, one of them 5 km by 2.2 km, that have yielded samples measuring up to 25.59 g/t Au and 465 g/t Ag. KTRI also believes there is, as is typical of deposits in this area, an underlying Cu/Au porphyry.
In addition KTRI announced another PP in the wake of having just closed one. The pricing is not the greatest, but they are both small, together raising under $300k, so there will not be substantial dilution.
I look forward to hearing about future exploration plans for SMK.
Message 35165326
Some bad news for BC/Argentina explorer Orestone Mining aka ORS -- they have closed a PP which makes predatory Crescat Capital, now a holder of more than 10% of ORS's shares. I'll be keeping a close eye on ORS -- as long as Crescat is involved they are on probation.
At least there is no convertible debt in the transaction, but Crescat has other means to manipulate share prices to its advantage.
newsfilecorp.com
Nord Precious Metals aka NTH has announced that crews are on the ground in preparation for their tailings reprocessing programme at the Castle Mine near Cobalt, Ontario. Road upgrades are underway preparatory to install a gravity circuit to extract Ag, Au, Co, and Ni from old tailings piles on surface and then use the reprocessed tailings to reinforce the underground mine.
Current plans are for wet commissioning of the mill in July, followed at some point by 'seasonal production'.
Message 35167651
I'm not much of a trader (as opposed to an investor) but I completed a successful trade today when I booked a 50% profit when the shares of Surge Copper aka SURG reached my target on the basis of a PR about metallurgical testing on their Berg copper deposit in BC. If the share price falls back to 10 cents again I may attempt another go-round depending on market conditions at the time.
Message 35168650 |
