| | | TECT, GNG, MAI
Tectonic Metals aka TECT released the final assays from the 2025 drilling at its Flat gold prospect in Alaska. Impressively, all 191 holes found gold.
The holes in this PR were all into the Chicken Mountain zone, and further confirmed it as a bulk tonnage deposit starting at surface. Chicken Mountain has now been defined over a strike length of 3.3 km stretching 700m wide and 300m deep, remaining open in all directions, with over the holes ending in mineralization. Based on ongoing metallurgical testing, it is seen a source for heap leach processing, perhaps even rin-of-mine. As well, multiple higher grade corridors which could serve as starter pits has been identified. Mind you, with so many of the holes ending in holes ending in mineralization, I expect them to drill longer holes when drilling resumes in May.
The PR ends by telling us that the details of exploration plans for 2026 will be released in the next few months. I would also like to hear about Resource Reports being developed, but no sign of that yet.
The worst thing about owning shares in TECT is the bizarre trading, which has little to do with the news releases. The share price is down a lot today for some reason after going way up for some reason after not going up for a long time for some reason.
Message 35418936
Aaah, ya gotta love mining microcaps...
I first bought shares in Golden Goliath Resources aka GNG around 5 years ago on the basis of an promising Ontario gold prospect. After a year this focus was replaced by another Ontario gold prospect but the last mention of that property in their PRs was at the beginning of 2023, shortly after which they announced the purchase of a number of REE prospects in Quebec. They continued exploration of these prospects until last March when they announced they had relinquished some of those properties.
Then last July GNG announced they had hired a new CEO, and now have announced the first move in their new strategy, buying into a gold prospect in Egypt. Never a dull moment...
GNG is acquiring a 29.5% interest in a concession known as West Gabal El Dehies, with the res being held by private and local companies. GNG and one of those companies will be responsible for all costs. The concession covers 15.45 sq km, and has a long history of artisanal mining which continues in the present. I expect we will hear about exploration plans and what will happen with the artisanal mining in the coming months.
I have a small stake in GNG, and will hold off on the decision of whether to sell ouy or buy more until those announcements are made.
Message 35418744
Minera Alamos aka MAI announced they have finished integrating the Pan gold mine in Nevada, purchased last year, into their operations. A new mining contractor is working on site and the mining fleet has been upgraded. In addition, due to higher gold prices MAI are allocating an extra $13.5M to waste stripping this year to improve operational flexibility going forward.
MAI also released 2026 guidance for Pan, with production and costs roughly similar to 2025, forecasting 32-38k oz Au at a cash cost of $1750-1900. oz. In addition studies are underway to bring into production the Gold Rock deposit, located 11 km away from Pan. They think this might be possible as soon as 2027.
I sold part of my MAI shares earlier for a good profit due to my dislike for the new management team, It appears that with the correction in gold prices finally underway I have missed the window to dispose of the rest of my shares, so for now I am planning to hold them with a plan to sell them after the correction is complete and prices are back on the upswing.
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