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Thursday, December 07, 2017 Derek Macpherson

IDM Announces Final 2017 Drill Results

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IDM Mining Ltd. (TSXV:IDM) has released the final underground drill results for the 2017 season at the Red Mountain Gold Project in BC. The company released assays for 20 underground holes that includes resource expansion, metallurgical, infill and exploration holes bringing total drilling for 2017 to 29,312m, which includes 104 underground holes, 8 surface holes and 3 geotechnical holes. The company highlighted a step-out hole of 85.5m grading 1.24 g/t Au, an infill hole in the AV Zone of 25m grading 13.67 g/t Au and a metallurgical hole in the 141 zone of 85.21m grading 1.89 g/t Au. The company indicated that the drilling program was successful in expanding the known extents of all mineralized zones up and down-dip from current reserves and still remains open in several directions. We expect permitting updates and development activities to be important catalysts for the stock as the company remains focused on advancing the project towards construction (2018). IDM continues to trade at a discount to peers on a per ounce basis (C$33/oz vs. peers at C$45/oz).  read more


Thursday, December 07, 2017 Derek Macpherson

eCobalt Optimization Should Reduce Costs

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eCobalt Solutions (TSX:ECS) announced an update on the progress its made in optimizing the Idaho Cobalt Project (ICP). The company has decided to take a new direction with its cobalt product and is expected to produce a clean (low arsenic) cobalt concentrate that is expected to reduce capital and operating costs at the company’s Cobalt operating facility. This new direction has followed changes in battery supply chain dynamics and in-depth discussions with potential offtake partners.  read more


Thursday, December 07, 2017 Derek Macpherson

FCC Expands Cobalt Camp Land Position

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First Cobalt Corp. (TSXV:FCC) has announced that it has acquired four contiguous mining claims located in the Central Cobalt region in Ontario near the past-producing Caswell mine. The Caswell mine has historically hosted the highest cobalt-silver ratios within the camp. The claims cover an area that is suspected of containing the extension of structures related to mineralization at the Caswell mine and the Thompson prospect. The properties are contiguous to First Cobalt properties to the west of the Caswell and La Tour mines and the Thompson prospect in Central Cobalt, which further consolidates this prospective area in the Cobalt Camp. We would also highlight that we continue to believe the company’s unique attributes, including its land position and infrastructure are likely to see First Cobalt trade at a premium to other cobalt exploration peers. Besides pending drill results, important upcoming catalysts are likely to include planned metallurgical test results. read more


Thursday, December 07, 2017 Derek Macpherson

MQR Announces Custom Milling Contract

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Monarques Gold Corp. (TSXV:MQR) announced that it has entered a custom milling contract with Nottaway Resources Inc. to process ore from the company’s Vezza mine at the Camflo mill. The contract includes at least 15,000 tonnes of ore per month, for at least 180,000 tonnes in 2018. This contract will provide Monarques with stable revenue in 2018 and fits into the company’s goal of increasing profitability of operations. At C$12/oz, Monarques currently trades at a significant discount to peers (C$32/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


Wednesday, December 06, 2017 Derek Macpherson

BAY Reports Initial Resource for Seal Zinc

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Aston Bay Holdings Ltd (TSXV:BAY) reported an initial inferred mineral resource estimate of 1.006Mt grading 10.24% Zn and 46.5 g/t Ag or 11.44% ZnEq (103kt Zn & 1,505koz Ag, 4.0% ZnEq cut-off) for its Seal Zinc deposit on its Aston Bay property on Somerset Island, Nunavut. The estimate is based on previous work completed by Teck Resources Ltd. (formerly Cominco Ltd. - 1995-96) and Noranda (2001). Seal Zinc is interpreted to be a Mississippi Valley-type (MVT) deposit, with known mineralization over a 400m strike length and extends 50-100m down-dip. The company believes exploration potential exists along strike, due to the clustered nature of MVT deposits. Although early days, the report suggests the mineralization could support underground mining. Going into 2018, the company is planning to analyze the recent Falcon Plus airborne gravity gradiometry survey data to identify and prioritize drill targets, which will be an important next step to provide more insight on the properties potential. read more


Wednesday, December 06, 2017 Derek Macpherson

Toachi Site Visit: Exceptional Grades Make La Plata Shine

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Last month we had the opportunity to visit Toachi Mining Inc.’s (TSXV:TIM) La Plata Project in Ecuador, which hosts the gold-rich polymetallic volcanic-hosted massive sulphide (“VHMS”) La Plata Deposit. We were impressed with grades of the recently announced inferred resource (2Mt @ 13 g/t AuEq) at La Plata and look forward to the PEA expected in H1 2018 evaluating a small underground mining operation, which we expect to have strong economics based on the exceptional grades. Our review of the data, core, sections and work done to date gave us a positive view on the current resource and its potential to grow. We highlight that VHMS deposits typically occur in clusters and that the 2,335 hectare La Plata property hosts more than a dozen targets which remain to be tested, suggesting regional exploration upside exists.  read more


Wednesday, December 06, 2017 Derek Macpherson

More Exploration Success for Tinka; New Discovery at Zone 3

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Tinka Resources Ltd. (TSXV:TK) reported results from six new drill holes at its Ayawilca project, announcing a new discovery at Zone 3, intersecting significant mineralization for the first time in hole A17-091A, and extending it at depth from 480m to 625m. As compared to Central Ayawilca and South Ayawilca, Zone 3 appears to be considerably deeper. The discovery suggests further resource growth is likely, as it extends outside of the recently updated resource boundary (Figure 1). Furthermore, Tinka still has three untested targets, Valley, Chaucha (north) and Yanapizgo (south). The company will continue to drill into 2018, with a drill rig operating at Zone 3 to follow-up on these results, which is expected to be funded by cash from the recent warrant exercise. At C$0.016/lb Zn, Tinka trades at a discount to peers at C$0.024/lb Zn. We believe that the ongoing drilling updates and the significant exploration potential of the Ayawilca property should be important catalysts for the company. read more


Wednesday, December 06, 2017 Derek Macpherson

Initial ARU Geophysical Data Defines First Target

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Aurania Resources Ltd. (TSXV:ARU) reported geophysical data from its first of multiple targets, the Awacha target, at its Lost Cities – Cutucu Project, which bears similar features to known porphyry deposits in the adjacent Cordillera del Condor. Geophysical results coincide with satellite imagery completed prior to the survey, and have identified possible porphyries. The company noted results are also comparable to SolGold PLC’s copper-gold porphyry system in northern Ecuador. The final report on the geophysical survey is expected to be completed mid-December, with news to follow. In addition, results from the stream sediment sampling will be announced as it becomes available. Results from recent exploration will be used to define targets for initial scout-drilling in mid-2018. Next catalysts include the results from ongoing exploration, which should provide further clarity on priority targets. read more


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