TUO, RIO, MTA, NTH
Teuton Resources aka TUO's JV partner on the Treaty Creek project in BC's Golden Triangle announced the results of the final of this year's drill holes, completing a programme designed to enhance the extent and grade of the gold-rich areas which have become the economic core of the deposit.
This hole was situated in the middle of a number of other finds, and found three significant intercepts. The uppermost, 1.37 g/t Au, 4.09 g/t Ag, and 0.01% Cu (1.43 g/t AuEq over 23.80m, including 1.63 g/t Au, 4.89 g/t Ag, and 0.02% Cu (1.70 g/t AuEq) over 10.70m extended this gold-rich domain by 52m. The middle intercept, 1.76 g/t Au, 1.74 g/t Ag, and 0.01% Cu (1.80 g/t AuEq) over 6.80m, was a 75m stepout for that domain, while the deepest, 1.88 g/t Au, 1.71 g/t Ag, and 0.01% Cu (1.91 g/t AuEq) over 5.90m, was a nice bonus, revealing an entirely new gold-rich domain.
With drilling complete, next up is updated Resource Report, followed by more drilling to follow up what are now seen as possible indications of other gold-rich zones elsewhere in Treaty Creek. They will also carry out further work looking at the economics of using these gold rich zones as a starter mine for Treaty Creek. Along with this, when they get the necessary permits, expected in Q3 next year, they will begin constructing a decline directly into the heart of the gold-rich areas.
Message 35318058
Even as PMs and PM stocks commence a months-long correction, Rio2 aka RIO continued to set new ATHs as we approach the first gold pour from its almost completed Fenix gold mine in Chile. The latest good news is the receipt of the final $50M gold pre-payment from Wheaton Precious Metals. This will carry them through the finish of construction and beyond and will be paid back using gold from future production.
I recently revised my target for initial sale of RIO shares from $2 to $3. With the share price already at $2.40, $3 doesn't seem that far away, but even with all the good news I expect RIO's share price will eventually be impacted by the ongoing correction in PMs and PM prices, so the $3 might have to wait until the correction is over next year. EDIT: And the the correction in PMs really got underway...
ca.finance.yahoo.com
Metalla Royalty & Streaming aka MTA announced they have increased their NSR on parts of the Côté-Gosselin mine to 1.5%. Côté-Gosselin has become a key asset in Iamgold's holdings with lots of growth potential, so it should be a good money spinner for MTA as well. If the PoG stays high the $3.4M cost of this transaction will prove to be bargain.
The PR also contained updates regarding a number of other royalties held by MTA, no surprises.
Message 35317903
Nord Precious Metals aka NTH released more details about its upcoming 30km drilling programme aimed at discovering more high grade silver veins on its Castle Mine property in Ontario. Geophysics and a new look at historical drilling have identified 29 potential veins, of which 7 will be targeted during this first phase of drilling which will total 3600m.
Message 35317894
Saville reiterates that the ultimate low in PMs and PM stocks is 2-6 months away. The first leg down has led to a consolidation which will be followed by more down He thinks that the correction in the PoG will eventually reach between $3000 and $3500, and for the PoS around $40. |
