IAU, TECT, TUO, NTH
Nevada gold producer 1-80 Gold aka IAU updated us on two of their properties.
Granite Creek is the first of their new mines, already in operation and ramping up to full production. Meanwhile, they continue to drill up the South Pacific Zone (SPZ), expected to become a key source of ore. The drilling is intended to convert Resources from Inferred to Indicated and form the basis for a PFBS currently underway for completion early next year.
The six holes into the SPZ all delivered high grade results as expected, with the most significant being from the most northerly and deepest hole to date delivering grades of 33.6 g/t gold over 2.9m and 29.7 g/t gold over 3.6m. The SPZ remains open in several directions.
At Cove, where there is also a PFBS underway scheduled to be completed early next year, infill drilling has been equally successful at Resource conversion.
Message 35255263
Based on past performance, I was very worried about how long it would take Tectonic Resources aka TECT to release the first assays from its Falt gold prospect in Alaska, but to my relief the first assays arrived today. Mind you, these assays from just one hole from the Phase 1 drill programme completed in the summer, so who knows how long it will take before we get assays from the Phase 2 drilling currently underway, much less the 47 drill holes remaining from Phase 1 that are currently unreleased.
The one hole we hear about now is a good one, being a 250m step out which has extended the Alpha Bowl 200m to the east with 2.23 g/t Au over 41.15m including 4.00 g/t Au over 21.34m with 13.25 g/t Au over 4.57n. As well, another significant gold zone was intersected at the top of this drill hole returning 0.58 g/t Au over 45.72m.
So this was a good start, but now we wait. I have increased my Ask price for selling my TECT shares.
Message 35255313
Teuton Resources aka TUO and Silver Grail Resources released an update on their ongoing drill programme at Ram, located 7 lm from Ascot's Red Mountain Au/Ag deposit in BC's Golden Triangle. Ram is one of the properties TUO and SVG jointly staked more than 30 years ago that is receiving attention due to recent discoveries in the area.
Six drill holes covering two targets have been completed, and another hole in underway. Although assays are pending, the core looks favourable for more mineralization similar to that found at Red Mountain as well as at GOT's Surebet discovery 30 km away.
Both TUO and SVG seem pretty confident they are on to something at Ram, but as always, the proof will be in the pending assays.
Message 35255384
I have been somewhat dismissive of Nord Precious Metals aka NTH's plans regarding the processing of tailings from their Castle Mine property in Ontario for silver and other metals, but their latest PR is making me start to think they might be on to something.
Up till now the plan has been to reprocess tailings on NTH's property and remnant ore from the Castle Mine and then use the reprocessed tailings to backfill stopes in the mine. But now talks with the Ontario Ministry of Mines regarding the fast track permitting process have opened up the possibility of also reprocessing materials on a tolling basis from the dozens of other part producing mines in the area.
Next up is formal submission of the permit application in Q4, then commissioning the already acquired 600 tpd gravity plant once permits have been received, leading to expected production in 2006.
Message 35255427 |
