RCKS talk

Monday, January 30, 2017 Derek Macpherson

MLN Reports Good Drill Results from Commonwealth


Download Report  

Marlin Gold Mining Ltd. (TSXV:MLN) announced results from the first nine holes of the ongoing infill and step-out drill program at its wholly owned Commonwealth gold and silver project in Arizona. The first part of the drill program was focused on modest step-out from the existing resource and acquiring metallurgical samples for flow sheet optimization. Today’s results were highlighted by hole 16CDDH06 which extended mineralization by 100m along strike and returned 2.91 g/t AuEq over 25.8m, and infill hole 16CDDH09 which returned 2.27 g/t AuEq over 18.0m. The company plans on following-up on today’s results during the ongoing drill campaign as well as commencing a geochemistry and geophysics program to develop additional targets. The company’s strong cash flow generation from La Trinidad is funding this program along with exploration efforts at La Trinidad (near-mine and greenfield) and the company’s financial commitment for the San Albino stream. These results highlight the importance of that cash flow.


Step-out results extended mineralization along strike. Hole 16CDDH06 returned 2.91 g/t AuEq over 25.8m, including 5.78 g/t AuEq over 9.9m. The hole was drilled 100m along strike from historic hole CSG-002 to test the relatively undrilled North Vein’s footwall that bounds the primary resource (Figure 1). Hole 16CDDH05, that was drilled 40m along strike from CSG-002, returned 1.01 g/t AuEq over 18.4m. The mineralization remains open along strike and down-dip and in our view, today’s results demonstrate the expansion potential of the existing 1.2M oz AuEq (44Mt at 0.84 g/t AuEq) resource.


Process flow sheet optimization important to improve project economics. Infill drilling twined historic holes to acquire fresh material for additional metallurgical testing. The infill drilling results support the potential of the existing resource and were highlighted by 2.27 g/t AuEq over 18.0m within a wider interval of 45.3m of 1.26 g/t AuEq (16CDDH09) and 0.87 g/t AuEq over a wide interval of 98.0m (16CDDH01). The PEA uses silver recoveries of 34% which was based on preliminary testing. We expect recoveries are likely to improve and this should positively benefit project economics.

 
Derek Macpherson | VP Mining Analysis
Sunneva Bernhardsdottir | Associate, Mining Analysis
Victoria Ellis Hayes | Associate
 
Red Cloud Klondike Strike Inc.
79 Wellington St. W. Suite 1630, PO Box 148
Toronto ON, M5K 1H1
 
Priced as of prior trading day's market close, EST (unless otherwise noted).
All values in USD unless otherwise noted

Disclaimer
Red Cloud Klondike Strike Inc. is registered as an Exempt Market Dealer in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland & Labrador, and the Yukon. Part of Red Cloud Klondike Strike Inc.'s business is to connect mining companies with suitable investors that qualify under available regulatory exemptions (the "Red Cloud KS Business"). Red Cloud Klondike Strike Inc., its affiliates and associates, and their respective officers, directors, representatives, researchers and members of their families (collectively, "Red Cloud KS") may hold positions in the companies mentioned in this publication and may buy or sell, or buy and sell their securities or securities of the same class on the market or otherwise. Additionally, Red Cloud KS may have provided in the past, and may provide in the future, certain advisory or corporate finance services and receive financial and other incentives from issuers as consideration for the provision of such services.
Red Cloud KS has prepared this publication for general information purposes only, NOT as part of the Red Cloud KS Business. This document should not be considered a solicitation to purchase or sell securities or a recommendation to buy or sell securities. The information provided by Red Cloud KS for the purposes of this publication has been derived from sources believed to be accurate, but cannot be guaranteed. Opinions or analysis contained in this publication may be subject to change and Red Cloud KS does not undertake to advise the reader of such changes. This publication does NOT take into account the particular investment objectives, financial situations, or needs of individual recipients and other issues (e.g. prohibitions to investments due to law, jurisdiction issues, etc.) which may exist for certain persons. Recipients should rely on their own investigations and take their own professional advice before investment. Red Cloud KS will not treat recipients of this publication as customers or clients by virtue of having viewed this report.

Company Specific Disclosure Details
Marlin Gold Mining Ltd. - TSXV:MLN - 1,2,3,4
Golden Reign Resources Ltd. - TSXV:GRR - 4

1)  A member of Red Cloud KS team has visited/viewed material operations of the issuer.
2)  In the last 12 months, Red Cloud KS has been retained under a service or advisory agreement by the subject issuer.
3)  In the last 12 months, Red Cloud KS has received compensation for investment banking services.
4)  Red Cloud KS or a member of the Red Cloud KS team or household, has a long position in the shares and/or the options of the subject issuer.
5)  Red Cloud KS or a member of the Red Cloud KS team or household, has a short position in the shares and/or the options of the subject issuer.
6)  Red Cloud KS or a member of the Red Cloud KS team own more than 1% of any class of common equity of the subject issuer.
7)  A member of Red Cloud KS team or a member’s household serves as a Director or Officer or Advisory Board Member of the subject issuer.



 

SUBSCRIBE TO HEAR FROM US

Gain access to exclusive mining industry research reports as well as additional mining industry information, promotional materials, press releases and news.

RCKS Talk Daily Analysis
RCKS News
LATEST POST
CATEGORIES
RELATED TAGS
ARCHIVES

 

RISK WARNING:

Red Cloud Klondike Strike Inc. is registered as an Exempt Market Dealer (EMD) in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland & Labrador, and Yukon.

 

By accessing this website you agree to be bound by our Terms of Use and Privacy Policy.

 

Red Cloud Klondike Strike Inc. connects mining companies with suitable investors that qualify under available regulatory exemptions. For example, in Canada, according to National Instrument 45-106, Prospectus and Registration Exemptions. Similar laws and regulations apply in other jurisdictions. Companies presented on this website are considered to be highly speculative and, as such, are suitable only for purchasers who can tolerate the highest level of risk including the loss of their entire investment.

© Copyright 2017 Red Cloud Klondike Strike Inc. All rights reserved.