OGC x 2, SVB, SNAG, TUO, RRI
A few months ago OceanaGold aka OGC announced an earn-in agreement with Carolina Rush on its Brewer Au/Cu project in South Carolina, not far from OGC's producing Hallr mine. As the deal requires approval by RUSH's shareholders, it has been held up by the Canada Post strike, but now we hear the voting will go ahead late next month.
ca.finance.yahoo.com
Events have moved more swiftly on another of OGC's American JVs, with Headwater Gold on three prospects in Nevada. OGC and HWG have signed a definitive agreement whereby OGC can earn up to a 75% interest in Headwater’s TJ, Jake Creek and Hot Creek properties through staged exploration expenditures totalling up to US$65,000,000 and the completion of Pre-Feasibility Studies. That OGC's minimum commitment is $2.5M and it could spend up to US$25M on each of TJ and Jake Creek and US$15M on Hot Creek tells you they think the properties hold real value.
We'll start to find out soon enough, as a drill has already been dispatched to TJ. BTW, we should also hear soon about initial drilling on Spring Peak, another Nevada Au-focused JV, this one with REN.
Message 35297041
Silver Bull Resources aka SVB provided an update on its case against Mexico under NAFTA and CUSMA, seeking tens of millions in compensation for Mexico not intervening in an illegal blockade that has kept SVB from working on its Sierra Mojada project. The case has proceeded to arbitration, and the hearings have been completed. Next up is the submission of legal briefs in response by Dec. 5. After that, the tribunal will render its verdict 'as soon as practicable'.
How long will that take? Your guess is as good as mine.
Message 35297095
Silver North Resources aka SNAG released an update on ongoing drilling at its Haldane property, where they are looking for Ag/Pb/Zr mineralization analogous to that being mined nearby at Hecla's Keno Hill mine in Yukon Territory. This programme is a follow-up on the Main Zone discovery last year. Three holes have been sent to the lab so far, with assays expected around the time drilling is completed in November.
Message 35298485
Teuton Resources aka TUO and JV partner Tudor Gold released assays from the fourth hole of this year's drill programme aimed at extending the high grade gold areas of the otherwise bulk tonnage Treaty Creek deposit in BC. Golden Triangle. This hole managed to link the previously discovered 300N and 330H horizons with a feature intercept of 1.70 g/t Au, 12.56 g/t Ag, and 0.02% Cu (1.85 g/t AuEQ) over 46.00m, including 4.12 g/t Au, 16.48 g/t Ag, and 0.01% Cu (4.30 g/t AuEQ) over 8.90m and 1.91 g/t Au, 25.06 g/t Ag, and 0.01% Cu(2.17 g/t AuEQ) over 7.40m.
More assays are pending, and will be followed by a revised Resource Report.
Message 35298568
An undated of the drilling programme at the La Union prospect in Mexico was released by Riverside Resources aka RRI's JV partner QQQ. QQQ can eventually earn 100% of La Union over a number of years by paying RRI in shares and cash, as well as paying them for running the exploration.
There are no assays yet, but there was some good news. The drill programme was originally intended to include 6 holes in 5 targets, but that was jeopardized by extreme weather. Now we hear that in spite of the weather, RRI has managed to complete 7 holes, and expects to drill another 2-5 holes.
Message 35298580
Saville points out that although HUI has broken above long term resistance, in order for this breakout to be confirmed it will need to finish the week above that long term resistance. Otherwise this could be the 3-6 month peak he has been predicting would occur soon. |
