IAU, TUO, KTN, Blue Jay Gold, ARK, OGC
Nevada gold miner i-80 Gold aka IAU continues to edge out of the doghouse, with the latest step upward in the share price delivered by an update.
This PR is primarily concerned with Archimedes, a former open pit mine in IAU's Ruby Hill property which they are turning into an underground mine expected to begin production in just over a year.
IAU has now received all the necessary permits and has begun construction of the Archimedes mine. Mind you, this permit only allows activities above the 5100-foot level, so they are also waiting for permits for deeper activities. Meanwhile, they are also carrying out exploration and infill drilling at Archimedes, and on-site heap leaching will continue.
IAU has a number of other irons in the fire, with the most immediate being the revival of the Lone Tree autoclave, which will allow refractory ore from Archimedes and Granite Creek to be processed in-house. They also plan to bring two other mines into production in 2029 and another in 2031
At this point about half my IAU common shares are in the green, while the the U warrants are now more than a 4-bagger for me. If things go well these could easily reach 10-bagger status.
Message 35249795
There has been an interesting development in Tudor Gold's latest PR regarding drilling on their JV with Teuton Resources aka TUO on the Treaty Creek project in BC's Golden Triangle.
In the years I have been following this saga, Treaty Creek was always referred to as a copper project with gold values, but for the first time, this PR reports intercepts as AuEq. Mind you, with the gold values they have been able to come up with over the last few years, it has become clear that these gold rich zones have become the economic core of Treaty Creek.
Hence it is no surprise that the first two holes reported from this year's drilling were aimed at expanding these gold rich zones.
One hole delivered a 45m stepout to the 300 North gold rich zone, assaying 2.57 g/t AuEQ over 54.00m (2.31 g/t Au, 16.98 g/t Ag, 0.07% Cu), including 5.64 g/t AuEQ over 6.00m (4.07 g/t Au, 99.86 g/t Ag, 0.45% Cu), plus another intercept of 11.16 g/t AuEQ over 1.50m (5.90 g/t Au, 343.00 g/t Ag, 1.45% Cu).
The other hole was infill between several gold rich zones and found two zones of high grade gold -- 7.06 g/t AuEQ over 3.00m (7.01 g/t Au, 4.22 g/t Ag, 0.01% Cu), and 4.14 g/t AuEQ over 10.20m (3.72 g/t Au, 6.04 g/t Ag, 0.29 % Cu), including 6.29 g/t AuEQ over 3.50m (5.81 g/t Au, 1.00 g/t Ag, 0.38% Cu) -- on each end of a more 'traditional' Treaty Creek intercept of 1.29 g/t AuEQ over 204.00m (0.65 g/t Au, 4.78 g/t Ag, 0.48% Cu).
There will be more drilling in these areas once the construction of a underground ramp into Treaty Creek is completed. (No timeline for this has been given.)
It really is remarkable how TUO and TUD have been moving together of late. The share price of TUO has more than doubled since it bottomed out in April and TUD has almost doubled since it bottomed in June. Interestingly, most of the gains in both have been made in the last few weeks.
It could be that a newsletter writer or two has jumped on board, or maybe a large company has been building positions in both, or maybe the behind the scenes machinations around Treaty Creek I've been speculating about of late are progressing.
Message 35252666
Kootenay Silver aka KTN announced they have begun a 50k drill programme at their Columba Ag/Au/Pb/Zn/Cu project in Chihuahua Mexico. They have so far completed five holes of a campaign that will lead to a revised Resource Report. And for the first time KTN mentions the possibility of a PEA after the drilling is done.
Expect ongoing new flow regarding Columba.
Message 35252553
We got an update from Blue Jay Gold, which was spun out by Riverside Resources to hold its Ontario gold properties and then announced it intended to buy a gold prospect in Yukon Territory.
Now we hear about a $5M PP wherein the participants pay 60 cents for a share and a half warrant with a strike price of 90 cents. Assuming they complete the PP, this gives us an indication on how the Blue Jay shares will be valued by the market when the shares get listed. There was, however, no update on when that might happen.
globenewswire.com
Arras Minerals aka ARK released the results of another drill hole from the Berezki North zone on its Elmes property in Kazakhstan, where they are looking for large Cu/Au porphyries, and a most interesting hole it was.
This hole stepped out 30M from the last hole, aiming to see if they could find more breccias like the ones that had been hosting the mineralization. This time they found no breccias but still found mineralization, yielding 276m grading 0.58% CuEq (0.21% Cu and 0.32 g/t Au), from surface, with higher grades in the first 100m of the hole.
This not only extends Berezski North to over 600M, but also extends the mineralization into new types of host rocks. The zone remains open in multiple directions. Drilling continues.
ARK has now regained most of what the share price lost when some investors misunderstood the import one of the holes released last month
Message 35252191
FWIW, TD put out a new research report on OceanaGold aka OGC. Citing how well they navigated a year with a high stripping ratio at Halle (thanks partly to the high PoG), the rapidly increasing FCF, and abundant growth catalysts, the raised OGC from Hold to Buy and raised their target from $22 to $30. |
