TUO, OGC, WGX, WM, SIG
Teuton Resources aka TUO and its HV partner Tudor Gold released an update on their Treaty Creek Au/CU project in BC's Golden Triangle. (Yes, I am now calling it an Au/Cu deposit rather than a CU/Au deposit.)
Reflecting the transition I mentioned above, 2025 drilling concentrated on and was successful at expanding high grade Au zones within the large Goldstorm deposit. 2025 drilling amounted to only 5km, but this will be tripled this year as they seek to continue to expand the gold-rich domains and follow up on others identified through reanalysis of older drill holes.
In addition we will get a revised Resource Estimate in January, and there is also metallurgical testing underway. And TUD is waiting for a permit to construct an underground decline to the heart of the gold-rich area, allowing year round access to Treaty Creek for drilling. In addition, there will be exploration on other deposits on the property, particularly Perfectstorm, CBS, and Eureka looking for other gold-rich zones.
BTW, TUO''s 20^ interest in Treaty Creek is carried, and TUD just completed a large PP to pay for all the work that is palnned.
Message 35363634
Today OceanaGold aka OGC released some good if expected news; they received the development permit for the Wharekirauponga (WKP) deposit on their Waihi property in New Zealand. This permit was issued after just a few months of consideration under New Zealand's new fast track process.
To obtain the permit, OGC had to come up with a proposal to construct twin tunnels to WKP so as to not disturb parkland. This will be time consuming and expensive, but judging by the high grade intercepts OGC has been pulling out of WKP, it will be more than worth it.
OGC will start building those tunnels in the coming months. The permit also allows OGC to double the number of drill rigs operating at WKP to six, so expect constant news flow from the drilling. Other construction of necessary facilities is also underway and expected to be complete by mid-2026.
Gold production at WKP is expected to begin in 2032.
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FWIW, in response TD issued a new analyst report on OGC. Noting that WKP is one of the highest grading gold projects under development on the planet, they viewed the news as Positive. They kept OGC at Buy with a target of $38., but noted that price target is under review. I expect a substantial increase.
Speaking of news flow, we can also expect plenty in 2026 from Sitka Gold aka SIG. Today they announced plans to drill 60km of holes on their RC Gold property in Yukon's Tombstone Gold Belt. This matches the total amount of drilling done so far in five years of exploring the property.
The Rhosgobel deposit will be the main focus in 2026, but Blackjack and Eiger will also receive their share of the action, as well as a number of exploration targets.
I am hoping that all this drilling will allow SIG to double the amount of Resources on RC Gold to over 4M oz, which should be enough to turn the property into a desirable targets for mine builders.
SIG's PR gives no indication of when 2026 drilling will begin. but last year's started in late February, so that seems like a reasonable estimate.
Message 35363568
Weat Australian gold miner Westgold Resources aka WGX continues to rationalize its portfolio of assets by selling off the smaller non-core properties.
Today they announced the sale of the Mt. Henry-Selene properties for $15M cash, $20M in shares of purchaser AQI.AX, and eventually, another $30M in shares of cash, bringing the total consideration to $64M. WGX will become a 19.9% shareholder in AQI, and will also receive the right to appoint a board member, as well as the right to participate in any future financings by AQI to maintain that 19.9%.
I expect this rationalization process to continue. The merger of KRR and WGX included a number of smaller assets like Mt. Henry which no longer fit into their plans.
Message 35362519
Wallbridge Mining aka WM announced its exploration plans for its gold properties in Quebec for the coming year. WM has been one of my most disappointing investments, so I am hoping this year might turn things around, but I am not holding my breath.
In 2006 most of their funds will be spent on expanding the Matiniere deposit, while smaller amounts will be allocated tp their nearby flagship Fenelon deposit, plus grass rots exploration at Casault and Grasset/ They say the work at Fenelon will be to support a "future pre-feasibility study", but they have been promising such a study for years, so again I am nit holding my breath.
Fortunately I only have a small stake in WM. I continue to ask myself why I didn't sell out when the share price was more than 10 times what it is now.
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