TUO x 3, ARK, TUO, WRLG x 2, NTH, EDV, OGC, WGX
Teuton Resources aka TUO released results from drill campaigns at two of the JVed properties in BC's Golden Triangle.
On their Del Norte property, JVed with DEC, 12 holes have been completed and assays are pending.
When I first bought shares in TUO, drill results at their Treaty Creek JV with TUD were reported as CuEq, but of late we are getting results reported as AuEq due to the discovery of 4 gold-rich 'Supercells' which have become the economic core of the project.
The rest of the PR discusses what TUO says were the final three holes completed at Treaty Creek, but as you will read in a moment, this conflicts with today's PR from JV partner TUD.
The three holes TUD discusses greatly enlarge the gold-rich area of Treaty Creek, to which a decline will be built.
Message 35289343
But also today, TUO's JV partner TUD released the assays for another hole into the same area, and says assays for two more pending, very confusing.
In any case, this hole found good metal values, i.e. 1.70 g/t Au, 3.46 g/t Ag, and 0.01% Cu (1.75 g/t AuEQ”) over 73.50 m, including 4.41 g/t Au, 3.46 g/t Ag, and 0.01% Cu (4.46 g/t AuEQ) over 10.50 m
The PR also reminds us that a revised Resource Estimate for Treaty Creek is expected before the end of the year.
I suspect there was a communication breakdown between TUD and TUO, creating confusion about which holes were which.
Message 35289362
SEA issued a new PR with much more detail about the legal fight over access to land that both TUD and SEA consider necessary for their KSM and Treaty Creek projects in BC's Golden Triangle, respectively.
The outcome of the fight could have a material effect on the value of Treaty Creek, in which Teuton Resources aka TUO has a 20% carried interest.
In case anyone with really deep pockets is reading this, I urge you to buy out SEA, TUD, and TUO's portion of Treaty Creek so they can be developed together.
Message 35287344
Earlier this year Arras Minerals aka ARK ran hard on the strength of long Cu/Au intercepts drilled into the Berezski targets on their Elmes property in Kazakhstan, where they are looking for large porphyries.
Then they put out a PR with some good holes butnalso a few duds, but with the release of their latest PR we get evidence that the 'fast money' has left ARK. This PR also contains one very good hole and one not so good, but this time the share price is up 20% on big volume and has almost recovered to its ATH.
Hole EL25019 was the star, generating an assay of 457.50m of mineralization @ 0.63 g/t AuEq (0.61 g/t Au and 0.10% Cu), starting at surface including 231.0m @ 0.98 g/t AuEq (0.97 g/t Au, 0.13% Cu) starting from surface and 91m @ 1.77 g/t AuEq (1.79 g/t Au, 0.19% Cu) starting at 88m depth.
Meanwhile, geophysics has generated a new target called Novii which is awaiting assays, and ARK's geologists are getting a better handle on the location of the porphyries
Another good hole or two should be enough to take out the ATH.
Message 35289121
West Red Lake Gold aka WRLG released Q3 results for its recently reopened Madsen mine in Ontario. They are still in ramp up mode, as evidenced by mining 35.7 kt of ore @ 4.5 g/t Au yielding 7055 oz Au, a one third increase from Q2. Importantly, grades generally met expectations, as opposed to the previous operator who ended up bankrupt.
They will beginning shipping 350 tpd of ore up a rehabilitated shaft next month, around the same time as they will receive the rest of the necessary equipment to reach steady state output. WRLG expects to declare commercial production early next year.
Message 35287224
The IKN newsletter was looking around for the reason(s) that WRLG was trading weakly of late, unlike its peers, and came across rumours that Frank Giustra, who is the eminence gris behind WRLG, is looking at trying to do a similar turnaround play with AOT, maybe even folding their BC properties into WRLG.
Nord Precious Metals aka NTH continues to progress it tailing project at its past-producing Castle mine in Ontario. NTH plans to reprocess tailings from the property, as well as other tailings dumps in the area through toll milling, to extract silver and other metals and then use the reprocessed tailing residue to backfill the Castle Mine.
In this PR we first hear that by treating tailings from the Beaver Mine (a past-producing mine on the Castle Mine property), they were able to increase silver content from between 30 to 300 g.t -- average grade 79 g/t -- to 2115 g.t Ag. Further testwork is planned at increasing the concentration.
NTH also referred to progress on negotiations with the Ontario Ministry of Energy and Mines for fast track permitting of a district scale hub and spoke model based on NTH's existing facilities. Right now all they can say is that they expect to begin production 'in 2026'.
Edit -- the next day NTH's share price suddenly increased by 40% for no discernible reason, other than it is the time in the PM bull when even the dogs fly.
Message 35285941
FWIW, TD issued a new analyst report of gold and PM producers revising their ratings and rargets in light of the high price of the metals Every single target for the 24 companies they cover was raised, some by a lot. Among the revisions
EDV was kept at Buy with the target raised from $52 to $72
OGC was kept at Buy with the target raised from $30 to $38
FWIW, RBC put out a new analyst report that included Endeavour Mining aka EDV. Citing EDV as on track to meet guidance and continuing to inprove FCF. they rated the company Outperform with a target of 35 British pounds or $C65.81.
FWIW, the same RBC report included Westgold Resources aka WGX. Citing the 3-year growth plan, they rated WGX at Outperform with a target of $A5.65 or $C5.35. |
