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Friday, December 15, 2017 Derek Macpherson

ANX Reports Solid Q2 F2018

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Anaconda Mining Inc. (TSX:ANX) reported Q2 F2018 production and partial financial results, producing 4,170 oz Au, selling 3,560 oz Au and generating revenues of C$5.8 million at a price of C$1,621/oz Au during the quarter. Year-to-date gold production has increased by 20% compared to F2017 and the company is well-positioned to meet F2018 guidance of 15,500 oz Au.  read more


Thursday, December 14, 2017 Derek Macpherson

eCobalt Reports Drill Results From ICP; More Pending

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eCobalt Solutions (TSX:ECS) reported results from one of three completed resource definition diamond drill holes at its Idaho Cobalt Project (ICP), returning 0.40% Co, 0.3% Cu over 6ft (~1.83m), 0.44% Co, 1.6% Cu over 6ft (~1.83m) and 0.51% Co, 1.8% Cu over 16ft (~4.88m). Results are pending for the two remaining holes. Drilling was intended to upgrade a portion of inferred resources to indicated resource for an updated feasibility study. The updated resource is expected in Q1 2018, which the company believes should have a positive impact on project economics. We view eCobalt as one of the few companies positioned to meet the near-term increase in cobalt demand, taking advantage of the current upswing in metal prices. The project’s location in the U.S., places it in a mining friendly jurisdiction with low political risks versus other Cobalt developers.  read more


Thursday, December 14, 2017 Derek Macpherson

Monarques Releases Final Croinor Drill Results

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Monarques Gold Corp. (TSXV:MQR) reported final results from the 2017 drill program at its Croinor Gold deposit and Gold Bug sector. The drilling program included 26 holes totalling 9,388m of drilling on the Croinor Gold deposit and 26 holes totalling 5,457 metres in the Gold Bug sector. The company highlighted recent drill results of 13.1 g/t Au over 4m at a vertical depth of 58m, 7.84 g/t Au over 9m at a vertical depth of 197m and 7.76 g/t Au over 5.7 metres at a vertical depth of 203m. The drilling program was largely successful for the company as it was able to increase the size of the Croinor deposit, the mineralization remains open along strike and at depth. The company is planning to continue testing extensions of the mineralization at depth and to the east and west, in addition to conducting infill drilling in order to increase the indicated resource. At C$14/oz, Monarques currently trades at a significant discount to peers (C$34/oz). In our view, this valuation does not properly reflect the company’s recent acquisition of the operating Beaufor mine and Camflo mill, along with the Wasamac project. read more


Thursday, December 14, 2017 Derek Macpherson

EXN Begins 2018 Exploration at Platosa

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Excellon Resources Inc. (TSX:EXN) has started an extensive surface exploration program at Platosa, comprised of 30,000m of drilling as well as soil geochemistry and induced polarization surveys. Drilling will follow up on results from 2017 to define mineralization near existing infrastructure from underground drill platforms and to test, new manto mineralization along the Platosa Corridor (5km strike) and skarn targets. Drilling has been ongoing, having drilled 6,600m from surface (24 holes) and 6,000m from existing underground infrastructure since Q3 2016, the program will be completed in Q1 2018, with results to follow. The geophysical campaigns in Q1 2018, will follow up on previous soil geochemistry work which began in Q4 2017. Excellon currently trades at a discount to peers at 4.5x 2017e EV/CF versus peers at 5.4x 2017e EV/CF. Ongoing and upcoming exploration should be an important catalyst for the company, as they highlight the potential to improve and grow operations in the near-term. read more


Wednesday, December 13, 2017 Derek Macpherson

GT Gold Hits at Saddle North

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GT Gold Corp. (TSXV:GTT) has reported results from early reconnaissance drilling at its Saddle North target, located approximately 500m north of the high-grade Saddle South gold discovery on its 100%-owned Tatogga property. Drill hole TTD057 intersected high-grade gold veins with intercepts including 13.55 g/t Au over 2.58m and drill hole TTD064 intersected porphyry copper-gold over 18.4m grading 1.35 g/t Au, 1.42 g/t Ag, and 0.37% Cu. In addition to continued exploration at Saddle South, the company plans to now make Saddle North a focus for exploration in 2018 as well. The company has stated that it sees significant potential for a large high-grade gold-silver system at Saddle South and Saddle North, which is continuing to be supported by assay results from the drilling campaign.  read more


Wednesday, December 13, 2017 Derek Macpherson

Comet Well Tenements Granted; Work Likely to Shift from Purdy’s

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Novo Resources Corp. (TSXV:NVO) has announced that the company has been granted its tenements at Comet Well from the Department of Mines, Industry Regulation and Safety in Western Australia (DMIRS). It enables Novo to begin exploration work on Comet Well and satisfy its conditional farm-in rights. Once these commitments are satisfied in addition to other commitments, the company will have an 80% interest in the tenements via two joint ventures. As soon as the DMIRS approves Novo’s plan of work, the company plans to commence field work at Comet Well. We expect that once Novo is able to start fieldwork at Comet Well, the ongoing work at Purdy’s Reward is likely to be materially reduced as Novo has completed earning its 50% interest. In the near-term, we are expecting initial bulk sample results from Purdy’s Reward, which we expect to be a material catalyst for Novo’s share price.  read more


Wednesday, December 13, 2017 Derek Macpherson

MAW Begins Winter Drill Program at Rompas-Rajapalot

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Mawson Resources Ltd. (TSX:MAW) has started a 15,000m winter diamond drill program at its Rompas-Rajapalot gold project in Finland, which will run from December 2017 to April 2018. The program is designed to extend known mineralization (near Palokas, Palokas South, South Rajapalot and Raja) to build a maiden resource as well as to test new exploration targets, specifically East Rompas, Hirvimaa and Rajapalot. A drill rig has been mobilized at East Rompas where the company is planning 2,000m of drilling. Once permitting is in place, more rigs are expected to be mobilized at Hirvimaa and Rajapalot in the second of half of January. The company is well-financed for exploration having recently closed a C$5.3 million financing. Results from the program will be an upcoming catalyst for the company, as it looks to build a maiden resource.  read more


Wednesday, December 13, 2017 Derek Macpherson

RCKS Charts: ECS, BTR, RDS & SKE

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In this edition of RCKS Charts, Keith has evaluated eCobalt Solutions Inc. (TSX:ECS), Bonterra Resources Inc. (TSXV:BTR), Radisson Mining Resources Inc. (TSXV:RDS) and Skeena Resources Ltd. (TSXV:SKE).  read more


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