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Wednesday, September 20, 2017 Derek Macpherson

RCKS Charts: NVO

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In this edition of RCKS Charts, Keith has evaluated Novo Resources Inc. (TSXV:NVO).  read more


Wednesday, September 20, 2017 Derek Macpherson

NVO to Form JV with Calidus

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Novo Resources Corp. (TSXV:NVO) and Calidus Resources Ltd. (ASX:CAI) entered into a binding terms sheet to form a joint-venture on Novo’s tenements surrounding Calidus’ Warrawoona project in Western Australia. The tenements are located near Novo’s Marble Bar project (Figure 1). Upon completion, Calidus will issue 20,000,000 shares to Novo to earn a 70% interest in the tenements, noting any interest that drops below 10% will change to a 1% NSR. As per a recent update regarding Karratha, news is expected as exploration gets underway, specifically regarding the geology of Comet Well and Purdy’s Reward over the next couple of weeks. Based on our preliminary value for Beatons Creek (C$150-200 million) plus the C$400-560 million we would ascribe to Karratha based on our +10 million ounce estimate at Comet Well, we believe some upside remains to the current share price, which is likely to be realized as Novo demonstrates the potential of its Karratha project.  read more


Wednesday, September 20, 2017 Derek Macpherson

RCKS Charts: WRN, SBB, RIC, PG and EXN

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In this edition of RCKS Charts, Keith has evaluated Western Copper and Gold Corp. (TSX: WRN), Sabina Gold & Silver Corp. (TSX:SBB), Richmont Mines Inc. (TSX:RIC), Premier Gold Mines Ltd. (TSX:PG) and Excellon Resources Inc. (TSX:EXN).  read more


Tuesday, September 19, 2017 Derek Macpherson

VIT Explores New Bluto Target in the East of Dublin Gulch

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Victoria Gold Corp. (TSXV:VIT) reported initial results from the newly discovered Bluto target, northeast of Eagle on the Dublin Gulch property. Trenching returned 0.67 g/t Au over 146m including 2.44 g/t Au over 30m (TR17-16). The target was only recently accessible by an exploration trail constructed to the Nugget Zone, prior to, limited work had been completed. 2017 exploration work on the target has consisted of 22 trenches over 2,800m as well as 10 diamond drill holes over 2,000m, exploration will continue until the end of the field season. Initial results are positive and open up a new area on the property. Upcoming catalyst on this target will be the expected drill results, following further exploration work. Victoria currently trades at a discount on a per ounce basis, or C$30/oz versus peers at C$45/oz, which we believe does not take into account the exploration potential of the Dublin Gulch property or that the project has just transitioned from shovel ready to under-construction. read more


Tuesday, September 19, 2017 Derek Macpherson

MTO Renegotiates SSL Stream

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Metanor Resources Inc. (TSXV:MTO) and Sandstorm Gold Ltd. (TSX:SSL) have amended the prior agreement which required Metanor to sell 20% of its gold production at a price of US$500, to a 3.9% NSR on all minerals produced from both the Bachelor and Barry projects, as well as any surrounding exploration properties. The amended terms will become effective upon Metanor delivering 12,000 oz Au for US$500 to Sandstorm. For a repurchase payment of US$2 million for both properties individually, Metanor can reduce the NSR to 1.8%. The company noted it will be increasing drilling at Bachelor. We expect further results from the ongoing drill programs at both Barry and Bachelor Lake to be important near-term catalysts for the company along with FQ4 production and financial results. read more


Monday, September 18, 2017 Derek Macpherson

FCC Remains Focused on Cobalt Camp; Exits DRC

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First Cobalt Corp. (TSXV:FCC) announced it will no longer complete the strategic alliance with Madini Minerals to earn controlling interest in seven copper-cobalt exploration properties in the DRC, announced in May 2017. As the mergers with Cobalt One Limited (ASX:CO1) and CobalTech Mining Inc. (TSXV:CSK) are expected to be completed later this year, the company’s intentions are to focus on the Cobalt Camp. The company noted it may however be interested in future opportunities. 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, pro-forma. Important upcoming catalysts are likely to include pending exploration results and the completion of the proposed mergers.  read more


Monday, September 18, 2017 Derek Macpherson

VIT Explores Spinach Target North of Olive-Shamrock

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Victoria Gold Corp. (TSXV:VIT) reported initial results from the Spinach target located to the north of the Olive-Shamrock deposit. Due to limited exploration work and no drilling had been previously completed, Victoria undertook a soils geochemistry survey prior to drilling which was used to identify targets. Results included 1.04 g/t Au over 14.3m (DG17-866C), 1.19 g/t Au over 9.1m (DG17-862C) and 2.38 g/t Au over 6.10m (DG17-860C) within wider intervals, indicating the opportunity for further growth north of Olive-Shamrock, near the Eagle Gold Mine. We expect continued exploration success to be a positive catalyst for the stock and should help demonstrate the exploration upside that exists on the property. Victoria currently trades at a discount on a per ounces basis, or C$31/oz versus peers at C$57/oz, which we believe does not take into account the exploration potential of the Dublin Gulch property or that the project has just transitioned from shovel ready to under-construction. read more


Monday, September 18, 2017 Derek Macpherson

Tinka Delivers More High Grades out of South Ayawilca

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Tinka Resources Ltd. (TSXV:TK) reported results from an additional nine step-out holes drilled at its Ayawilca zinc project in Peru (Figure 1). At South Ayawilca, results intersected high grade mineralization along the western end in hole A17-089 grading 16.7% Zn, 33 g/t Ag and 681 g/t In over 10.8m, as well in hole A17-087 grading 9.6% Zn, 0.1% Pb, 472 g/t Ag and 15 g/t In over 0.9m. Drilling at West Ayawilca expanded mineralization (holes A17-083 and A17-085), intersecting 8.0% Zn, 0.6% Pb, 61g/t Ag and 133 g/t In over 2.9m in hole A17-083. Initial results from Chaucha, Zone 3 and Valley target areas were reported, which although lacked significant zinc mineralization the company is planning more drilling in 2018 to further understand these areas. Notably, Tinka expects to update the Ayawilca zinc resource in early November which will include mineralization from South Ayawilca (2 holes pending), step-out drilling at South Ayawilca will continue until December. We believe as Tinka continues to demonstrate exploration upside at Ayawilca it should support and may expand the current premium it trades at relative to peers (C$0.03/lbs vs. C$0.01/lbs ZnEq). read more


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