SIG, TECT, EEI, CAPT, DV
Add Sitka Gold aka SIG to the growing list of companies that are having trouble getting their assays out on time. (A key cause is that there is so much drilling going on due to high metal prices, overwhelming the labs.)
Today we hear about the first hole drilled by SIG into the Contact Zone on its RC Gold property in Yukon Territory's Tombstone Gold Belt. The assays, including 119.0m of 1.01 g/t Au from surface, including 10.7m of 4.1 g/t Au including 1.2m of 24.8 g/t Au, and 1.2m of 12.25 g/t Au, were enough to confirm indications from historical drilling that Contact is a good candidate for adding more ounces.
Of course, this will have to be confirmed by more drilling. Assays are pending for another three holes completed at Contact, as well as another 49 completed drill holes across the property.
One thing I don't like about the way SIG reports results is that they jump back and forth between the regular way of reporting assays -- x metres @ y g/t -- vs. gram-metres, which is measured in similar looking numbers, creating the potential for confusion.
Message 35327863
Tectonic Resources aka TECT announced they have completed a 125 hole two part drill programme at their Flat Au project in Alaska. The biggest problem with TECT the last few years has been delays in reporting assay results, which started long before the current round lab delays.
You can decide if this comment is worrying or reassuring.
"While we are currently experiencing lab delays, our intention is to issue drill results in a meaningful and contextual manner in the coming weeks and months."
Based on their track record, I am not reassured, but I hope they prove me wrong.
Message 35327822
Riverside Resources aka RRI announced the completion of a 12 hole 1600m drill programme at its La Union CRD prospect in Sonora, Mexico. Questcorp can earn ownership of the property over the next six years by funding exploration and making payments to RRI, which is running the exploration programme.
The holes were drilled into six targets, three of them adjacent to past-producing mines. Once assays have been received, released, and analyzed, a follow-up drill programme will be carried out early next year.
Message 35327803
Capitan Silver aka CAPT released assays from another 6 holes from its ongoing drill programme on its Cruz de Plata Ag/Au project in Durango, Mexico.
Each of the six holes reported extended mineralization by between 50 and 75 metres, with grades as high as 1767.4 g/t AgEq over 1.5m, within a broader zone of 1222.1 g/t AgEq over 3m, which is part of a wider interval of 234.2 g/t AgEq over 25.9m.
Above and beyond this, drilling also found another instance of Gully Fault-style Au/Ag mineralization, cross-cutting the main vein structure, an important indicator for high-grade mineralization found elsewhere on the property.
Drilling continues, with assays pending for 25 completed drill holes. In addition, we will soon hear about an updated Resource Estimate for the Capitan Hill oxide gold deposit.
Message 35327776
Dolly Varden Silver aka DV released assays from three more holes drilled into the Homestake Silver deposit on its Kitsault Valley property in BC's Golden Triangle.
All three holes found gold-rich mineralization, e.g. 22m @ 1,18 g.t Au and 3 g.t Ag in one hole, 26.74 g/t Au over 14.76m including 122 g/t Au over 2.85m in another, and 9.22 g/t Au over 6.65m including 58.80 g/t Au over 0.95m in the third. Two provisos: true widths are estimated at 65-70% of core length; and most of the gold is contained in those narrow intercepts.
Still, with these holes the high-grade core of Homestake had been extended to over 300m vertically and over 1 km down plunge. In addition, one of the holes found a previously unknown stockwork zone.
Homestake Silver remains open along plunge and at depth, so we can look forward to the next set of assays.
Message 35325584 |
