TUO, WRLG x 2, GQC, SIG, EDV, OGC, RIO
Normally JV partner TUD comes out with a PR involving Treaty Creek, then a day or later Teuton Resources aka TUO comes out with their own version of the same news. But remember the other day when I found it odd that TUD and TUO came out with almost simultaneous PRs, TUD's about a new hole at Treaty Creek and TUO's about three other holes at Treaty Creek plus an update about another of their properties? Well, now that TUO PR no longer exists, or at least has disappeared from their website.
Instead we get a new PR which does focus on the hole TUD reported the other day. as well as reporting on two earlier holes. I have already talked about what they found, so suffice to say it was more high grade gold.
Message 35291622
West Red Lake Gold aka WRLG released the results of the latest drilling in their recently reopened Madsen gold mine in Ontario. This time we hear about drilling into the lower part of the Austin Main, which has not been drilled since it was mined over 60 years ago..
Austin is expected to be an important source of ore for the mine, and you can see why, with main high grade intercepts, like 7.75m @ 139.45 g/t Au and 2.95m @ 21.18 g/t Au. Austin Main remains open at depth and to the northeast. Note that the area drilled is adjacent to active mine development.
Drilling continues.
Message 35290351
FWIW, in response Raymond James issued a new analyst report on WRLG. They didn't have much to say but kept WRLG at Outperform (no target).
Goldquest Resources aka GQC announced there are two drills turning on its Romero Au/Cu project in the Dominican Republic. This set of drilling is primarily for metallurgical purposes in support of a coming feasibility study. A third drill will begin turning next month at the Cachimbo target, one of numerous greenfield target in GQC's holdings along the Tireo mineral belt. This greenfields exploration is being supported by a programme of mapping and sampling currently underway.
Message 35290375
I just added a new pony to the stable, in form of shares of Sitka Gold aka SIG. They have various gold and copper prospects in the NWT, Arizona, and Nevada, but the only property that they are working on is their RC Gold property in Yukon Territory, where they are drilling up a number of deposits, have existing Resources, and recently added tungsten to the mix.
I have been watching SIG for some time, and of course wish I had got on board when the share price was lower. I do plan to add more shares, likely when the coming correction in PM prices takes effect.
sitkagoldcorp.com
FWIW, Raymond James issued an analyst report on metals prices. They say they are updating both their short and long term forecasts for gold and silver -- though stragely, they don't provide any numbers. Among the changes:
-EDV was kept at Outperform but the target was raised from $57 to $70
-OGC was kept at Outperform but the target was raised from $26 to $35
-RIO was kept at Outperform but the target was raised from $215 50 $2.50. |
