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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

A Busy Q1 2018 on the Horizon for Lupaka

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Lupaka Gold Corp. (TSXV:LPK) announced operational advancements with regard to its Invicta Gold development project. Road construction to improve 27km of road leading to Invicta, has been contracted as well as widening and diverting the existing road which is expected to be completed in Q1 2018. The company is finalizing negotiations with a mining contractor, which is expected to be mobilized to site in Q1 2018, existing infrastructure is anticipated to take ~3 months to rehabilitate and develop. In addition, decisions regarding toll mining facilities and offtake traders should be made in Q1 2018. As previously mentioned, a PEA has been initiated for Invicta, to be completed in Q1 2018, another step towards beginning potential production in the second half of 2018. read more


Monday, December 11, 2017 Derek Macpherson

Ascot Completes 2017 Drill Program; Plans for 2018

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Ascot Resources Ltd. (TSXV:AOT) has completed the 2017 drill program at its Premier property, which totaled 118,800m (379 holes). The company reported the final set of results from 40 holes, targeting the Northern Lights area as well as reconnaissance drilling at Big Missouri-Martha Ellen areas, which requires additional exploration to determine potential continuity. Results were highlighted by 10.66 g/t Au over 4.70m (Northern Lights West zone – P17-1570), and 5.87 g/t Au over 17.4m (Ben Subzone – P17-1580). The company is finalizing its drill program for 2018, targeting infill drilling at Big Missouri, Northern Lights and Premier as well as other high priority targets. Final details of the program will be released along with an updated resource estimate expected in Q1 2018. Exploration results continue to highlight the potential for a large high-grade underground resource (2-3 million oz Au) at the past producing Premier mine. This implies a current valuation of C$65-98/oz, a premium to peers at C$65/oz, which is likely warranted because of the high grades, existing infrastructure and other resources. We note that based on the current lower-grade resource Ascot trades at a discount to peers (C$44/oz). We expect the upcoming resource update (Q1 2018) along with drilling in 2018 to demonstrate the projects potential. read more


Monday, December 11, 2017 Derek Macpherson

Aquila Provides Permitting Update

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Aquila Resources Inc. (TSX:AQA) has provided an update on the company’s permit application with the Michigan Department of Environmental Quality (MDEQ), which has deemed that Aquila’s wetland/steam /floodplain permit application for the Back Forty project is administratively complete and the regulatory technical review process may now move to the next stage. This is the fourth and final major permit that remains for Aquila to build and operate the Back Forty project, which is planned to be an open-pit zinc-gold mine in Michigan’s Upper Peninsula. The public hearing for this permit is scheduled for January 23, 2018, with a final decision on it, expected in the first half of 2018. Aquila is currently well positioned to complete the Back Forty projects feasibility and start construction once the final permit has been granted.  read more


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


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