RRI, ARK, RSG, NTH
Riverside Resources aka RRI and JV partner Questcorp reported assays from the six holes, half of the recently completed drilling at the La Union prospect in Mexico's Sonora Gold Belt.
The big discovery was a new style of mineralization discovered at the Luis Hill prospect, where a single hole yielded an intersection of 0.3 g/t gold over 42m. This was the first discovery of sediment-hosted Carlin-like mineralization found anywhere in the Sonora Gold Belt, and the JV partners feel this could develop into a major discovery.
The rest of the holes were aimed at targets beneath the past-producing Famosa Mine, and all but one, which did find prospective stratigraphy, intersected mineralization. Both Famosa and Luis Hill will be the target of further drilling.
QQQ is earning 100% ownership of La Union over a number of years, so how does this benefit RRI? First, they are being paid for running the exploration, but they are also collecting tranches of money and shares over a number of years, and also will receive an NSR. And note that good exploration results will increase the value of the QQQ shares RRI is accumulating.
As well, if La Union delivers as expected, it will only enhance RRI's reputation as a prospect generator and JV partner, leading to more opportunities in the future.
Message 35391624
Arras Minerals aka ARK traded up significantly on the release of assays from three more holes from its ongoing drill programme on the Berezski Trend within the Elmes prospect in Kazakhstan, where they are looking for large Cu/Au porphyries similar to those being mined nearby.
One hole targeted Berezski North and found 246.2m of mineralization @ 1.02% CuEq (0.75 g/t Au and 0.24% Cu) starting at 0.8m depth, including 140.0m @ 1.26% CuEq (0.88 g/t Au, 0.35% Cu) starting from 7.0m depth. Berezski North is really shaping up as a potential ore body.
Another hole was drilled into Berezski East, and found 47.0m of mineralization @ 0.54% CuEq (0.42 g/t Au and 0.13% Cu) starting at 302.0m depth, confirming it as the primary target so far. It also found a zone of gold-rich mineralization which will be followed up.
The third hole was drilled into Berezski Central and unfortunately was terminated by mechanical issues after finding 55.0m of mineralization grading 0.26% CuEq (0.11 g/t Au and 0.11% Cu) starting at 42.0m depth.
More assays are pending, and the drill programme will shortly resume after a seasonal break.
Message 35391645
I was disappointed by the latest PR from Rocky Shore Gold aka RSG, and judging by today's trading, so was the market.
I and the rest of the punters have been waiting for the announcement of permits to drill the Lake Pond target, along strike from NFG's Queensway deposits in Newfoundland, but all they had to say about that was that they expect to receive the permit this quarter.
In the meantime, they are working on the recently acquired Reid and Mosquito Hill deposits, for which a Technical Report and Resource Estimates will be prepared, also expected by the end of Q1 They now see these deposits as part of a separate mineralization event in what they are calling a Porphyry Gold Corridor which they see as connecting the two deposits. They think the corridor has the potential to host more porphyry-controlled gold deposits. If they are right, that should eventually assuage the current disappointment.
In the best case both the Corridor and Lane Pond are proved up. We'll find out as the year progresses.
Message 35391672
Nord Precious Metals aka NTH has released what it calls a pathway to production on the recently expanded landholdings around Cobalt, Ontario. The property now contains many unprocessed tailings deposits, which NTH has already proved can be processed through to bars of dore using NTH's nearby facilities, as well as 8 past-producing shaft.
Perhaps the most important item in this PR is that the Ontario government has confirmed that the forthcoming permit, which has been fast tracked. can be used to operate on properties owned by others, which opens up many new prospects.
NTH has actually started to impress me a bit of late, but as usual there are lacunae such as no actual dates for when production might start. I had been meaning to sell my few shares if their price increased enough to make it worthwhile, but perhaps I will hang in and watch.
BTW, I acquired what are now my NTH shares three company name changes and about 15 years ago, when their symbol was TKK and they were looking for gold in Tanzania.
Message 35391755 |
