AUX, RSG, ARK, RIO
I recommend taking a look at Golden Cross Minerals aka AUX's YTD chart, you will see that yesterday was the climax of a 100% retrace of the price run that began in June. As long as this price holds, this is a bullish technical feature of the chart, providing more support for my decision to add yesterday at 26 cents and 27 cents.
ca.finance.yahoo.com
Of late Rocky Shore Gold aka RSG has been consolidating the bull run that has more than tripled the share price since September, but today's PR managed to drive the share price to a new high before it settled back a bit.
The contents include a detailed update on the two Resource-containing deposits RSG has recently acquired to add to its Gold Anchor property in Newfoundland which holds 11 km of the Appleton Fault which also hosts NFG's Queensway deposits which adjoin Gold Anchor to the north.
When I commented on the initial announcement of the purchase, I was worried that the Resources were small and low grade, but RSG starts to address that in this PR.Their chief argument so far is that when examining historical core drill in the first decade of the century they found numerous high grade intervals in both deposits, including 2.21 g/t Au over 35.00m including 3.00 g/t gold over 5.00m at Mosquito Hill, and 1.60 g/t gold over 20.00m including 2.20 g/t gold over 10.60m at Reid. They have also stated that they think they can find higher grade mineralization at depth
So far RSG has been a little vague about their exploration plans, but they do say in the PR that drilling will begin at the Lake Pond target in Q1. Assays eagerly awaited...
Message 35361611
Arras Minerals aka ARK released a year end update, including new assays, on this year's exploration of the Berezski Trend on their Elmes property in Kazakhstan, where they are searching for large Cu/Ag porphyries similar to those being mined nearby.
The main difficulty in exploring Berezski is that most of the mineralization is under cover, so this year ARK used a new technique they are calling top-of-bedrock (KGK) drilling, where the objective of the holes is to reach through the unmineralized cover and see what lies beneath. The cover is quite shallow, meanung the 64 KGK holes drilled in October totalled only 1663m, but ARK was still able to collect a remarkable amount of information to guide future drilling. For instance, these holes were able to extend the Berezski Central and East tragets to over 1 km strike length, with both remaining open to the north and to the south. They were also able to identify a new target between the two.
ARK also drilled three holes into the previously untested Novell target. A hole 1.6 SE of Central Berezski intersected what appears to be the edge of yet another porphyry, which will be followed up in next year's drilling.
ARK plans to resume exploration in February on several fronts. In the meantime we can look forward to more assays from Berezski as well as from the properties covered by the exploration alliance with Teck.
Message 35361531
I will give a brief mention of two relevant issues covered by IKN this week. First, the new water law passed in Mexico is a clear negative for mining, creating a new level of uncertainty for anyone wanting to build or run a mine in Mexico.
Then IKN further expands on Rio2 aka RIO's purchase of the producing Conestable copper mine in Peru, first pointing out the related material now posted on RIO's website, linked below, particularly the new presentation and Technical Report, which I recommend you review.
Among the interesting pieces of info are full details on the PM streams deal with FNV, that near term ore development will be from the cheaper upper levels of the mine, and the possibility of building an open pit. IKN goes in detail through the numbers and concludes that Conestable will be a very lucrative acquisition. I agree, and so does the market, judging by RIO setting yet another ATH today.
rio2.com |
