GQC, NRN, CAPT
Goldquest Mining aka GQC, after years of no progress due to permit issues on their Au/Cu properties in the Dominican Republic, are certainly trying to make up for lost time now that they have the permits, not to mention all the money they recently raised, with multiple drill programmes underway.
GQC recently completed 5 metallurgical holes at Romero, and are close to completing geochemical and hydrogeological drilling. The results of these holes will be used to advance the Feasibility Study currently underway. (GQC has been vague about when it might be released, but it is certainly expected this year.
As well, the first exploration hole is underway at the Cahimbo prospect, located south of Romero along the same mineralized trend. Once drilling is complete, the results will be used to generate a Resource Report for Cachimbo, and they alsoplan to test other targets in the area. As well, geophysics is currently underway to further refine those and other exploration targets.
GQC share price is now more than 20 times what it was a few years ago. I recently sold enough shares to double my original investment, which required only about 7% of my holdings. If things work out as planned, it is easy to see a double of the share price from current levels, at a minimum.
I can't really get a feeling as to whether GQC plans to develop Romero into a mine themselves or sell to a larger company once they have established the economics of the project. I am fine with either.
Message 35416405
Northern Shield Resources aka NRN released a brief PR detailing the first modern exploration on one of the five gold targets on its Root & Cellar property on Newfoundland's Burin Peninsula.
Braxton Bradley is the easternmost of those targets, and shows the typical Au/Ag/Cu/Te associated with the property. NRN's mapping and sampling revealed assays 10 times higher than the original exploration a quarter century ago, as well as evidence of a separate gold mineralization event. This will be followed up later this year.
Over the years NRN has proved its geologists are really good at finding promising targets that never amount to anything. It is too soon to tell if Root & Cellar will yield the same result.
Message 35416445
Capitan Silver aka CAPT has released assays from 8 more holes from last year's drilling campaign on its Cruz de Plata Au/Ag prospect in Durango, Mexico.
A number of holes into the area where the Jesus Maria Silver Trend intersects the Penoles Fault have established a high grade shoot with intersections like 1,130.1 g/t AgEq over 1.5m within a broader zone of 240.5 g/t AgEq over 25.9m, and 692.4 g/t AgEq over 1.5m and 404.6 g/t AgEq over 1.5m within a broader interval of 18.3m of 122.3 g/t AgEq. This high grade zone has now been established from surface to 220m down dip, and remains open down dip and to the south.
As well, an intersection of 90.3 g/t AgEq over 3.0m, including 133.96 g/t AgEq over 1.5m 250 south of Jesus Maria has established a new zone dubbed the Encarnación Zone, with the surface expression being more than 250m long. This will be followed up in future drilling.
That future drilling has actually already begun, with two rigs drilling and two more arriving this week to carry out a 50km drill programme. In addition, assays from 33 holes from last year's drilling remain pending.
If these results had been released a week ago there would have been a strong upward reaction in the share price, but given today's less favoutable context for PM stocks, the shares are currently up only 5 cents.
Update: The next day (today) a strong rebound in silver prices did push CAPT's share price up more than 10%.
Message 35415227
Saville has been predicting that a multi-month top in PMs and PM stocks would occur shortly, and it appears those tops were set in the last 10 days. He reiterates that he expects the PM bull to resume once the correction is over and and that the resumed bull will extend into 2027. He reiterates correction targets of $4300 or perhaps below $4000 for gold and around $70 and then $50 for silver. Possible targets for HUI are 640 and 550. Saville also thinks that copper's price spike on Thursday will not be exceeded for some months. |
