RCKS Talk

Tuesday, February 27, 2018 Derek Macpherson

Metanor Drills Impressive Grades at Barry

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Metanor Resources Inc. (TSXV:MTO) drill results from Barry has extended the main shear zone at depth, intersecting 6.4 g/t Au over 5.1m (MB-18-152) and 3.9 g/t Au over 12.0m (MB-18-148). Drilling also returned high-grade results, highlighted by 21.2 g/t Au over 1.7m (MB-17-142). Three drill rigs are in operation, with two drilling Barry and one focused on other exploration targets. Surface drilling at Barry has been successful and continues to highlight the growth potential of the project, with the company having identified three main sub-vertical shear zones including additional secondary lower shear zones which remain open in all directions. Metanor is on track to increase the size of the Barry camp to better accommodate a larger exploration program in Q1 2018, which is expected to include a 10,000 tonne bulk sample from a decline from the existing pit. We expect further results from the ongoing drill programs at both Barry and Bachelor to be important near-term catalysts for the company. read more


Tuesday, February 27, 2018 Derek Macpherson

ANX Point Rousse Resource & Reserve Update Highlighted by Conservative Estimates

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Anaconda Mining Inc. (TSX:ANX) has filed an NI 43-101 Technical Report for its Point Rousse Project, which included the maiden resource for Argyle and updated reserves and resources for the Pine Cove and Stog’er Tight deposits. While, the update is neutral to our overall view, the company has applied more conservative assumptions than expected, on the conversion of Stog’er Tight’s resources to reserves. We have partially reflected this in our model, resulting in a slight NAVPS estimate (was C$1.00/sh, now C$0.95). We highlight that, the company has just started mining this deposit, and as initial reconciliation data becomes available, we plan to refine our estimates. As well, we highlight that we only model the current resource for Argyle; however, ongoing drilling success is likely to positively benefit our estimates. As well, we continue to believe that Anaconda trades at a discount to peers and believe that as the ongoing drill programs at Argyle and Goldboro continue, it should close the gap to peers.  read more


Tuesday, February 27, 2018 Derek Macpherson

RCKS 6th Annual Pre-PDAC Mining Showcase Presenter Preview

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On Friday, March 2, 2018, Red Cloud Klondike Strike Inc. will be hosting its 6th Annual Pre-PDAC Mining Showcase. The event features presentations from 30 companies, including a breakfast panel focused on new technology in mining and a keynote lunch presentation from Osisko Mining Inc. (TSX:OSK), SolGold Plc. (TSX:SOLG) and Ascot Resources Ltd. (TSXV:AOT). For more details, please visit our events page. In this post, we provide a brief preview on the 30 presenting companies and a list of banner participants that will be in attendance.  read more


Monday, February 26, 2018 Derek Macpherson

Northern Empire Hits Big at Daisy

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Northern Empire Resources Corp. (TSXV:NM) reported results from the first of 10 holes drilled at the Daisy deposit on the company’s Sterling Gold Project. Results from Hole D18-003C returned 1.41 g/t Au over 123.93m including high grade core of 3.09 g/t Au over 38.25m. The drill program at Daisy will be a combination of exploration, resource expansion and infill drilling, a part of a larger 15,000m drill program. Drilling is underway at the SNA and Secret Pass deposits, in addition to mapping of extensions and new targets on the project. The company is planning to mobilize more drills shortly. Following the recent performance of the company’s share price, Northern Empire now trades at a premium to peers on a EV/oz basis (C$94/oz, peers C$69/oz). We believe the market is starting to reflect the value of Sterling and the potential of the company’s Crown project to the north. Notably, recent drilling success by Northern Empire and from Corvus Gold’s (TSX:KOR) Mother Lode project (surrounded by Northern Empire ground) suggests there is additional room to the upside. read more


Thursday, February 22, 2018 Derek Macpherson

ADZN Monetizes Non-Core Newfoundland Zinc Projects

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Adventus Zinc Corp. (TSXV:ADZN) has announced an agreement to monetize its non-core Newfoundland Zinc projects, generating value from these earlier stage projects. Adventus, Canstar Resources Ltd. (TSXV:ROX) and Altius Minerals Ltd. (TSX:ALS) have announced that they have entered an agreement whereby Canstar will acquire the Newfoundland base metal exploration assets of Adventus and the Daniel's Harbour Zinc Project from Altius in exchange for the issuance of common shares of Canstar to Adventus and Altius, a funding commitment from Altius of $500,000 as part of a $750,000 private placement. Canstar’s objective is to consolidate the majority of the Buchans Camp and add three high-quality Newfoundland zinc projects to its portfolio. This transaction enables Adventus to monetize 100% of its interest in its land package located in the Buchans camp, which may allow the company to focus on its El Domo project while maintaining an equity interest in Canstar. Adventus is currently well-funded, after closing a C$10 million financing in December 2017. Assuming the completion of this proposed transaction, Adventus trades at C$0.012/lb ZnEq (C$0.014/lb ZnEq if not completed), a discount to peers at C$0.016/lb ZnEq. Upcoming drilling should be an important catalyst for the company. read more


Thursday, February 22, 2018 Derek Macpherson

FCC Shifts Drilling Focus to Cobalt North Targets

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First Cobalt Corp. (TSXV:FCC) has completed its maiden drill program in Cobalt South and has now begun drilling in Cobalt North, near the historic Drummond, Kerr and Conisil mines. The company is planning to drill a total of 16 holes for 3,500m to follow up on previously identified high-grade Co-Ag polymetallic mineralization found in muckpile grab samples. Drill targets at Cobalt North are based on the company’s new 3D geological model that was compiled using extensive historic data compilation and 2017 regional field mapping. 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. We expect results from the ongoing exploration program to be an important upcoming catalyst.  read more


Thursday, February 22, 2018 Derek Macpherson

Monarques to Drill 50,000m in 2018

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Monarques Gold Corp. (TSXV:MQR) is planning to drill 30,000m at Beaufor and 20,000m at Croinor to extend the mine life at Beaufor and increase the size of the deposit at Croinor. Drilling at the Beaufor mine will consist of 14,000m of infill drilling and 16,000m of exploration drilling to expand the projects resource base with the goal of extending the mine life. The main targets at Beaufor for 2018 drilling include Zone Q, Zone 1700, Zone 173, the western shear and the Beaufor fault at depth. The drilling program at Croinor is aimed at testing the mineralization to the east-west and at depth in addition to conducting infill drilling in areas with insufficient data. At C$21/oz, Monarques currently trades at a significant discount to producing and development stage peers (C$40/oz). In our view, this valuation does not properly reflect the company’s recent acquisitions and we believe the upcoming resource expansion drilling and technical studies should help close the valuation gap to peers.  read more


Thursday, February 22, 2018 Derek Macpherson

RCKS Charts: NVO, GTT, MAW & MQR

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In this edition of RCKS Charts, Keith has evaluated Novo Resources Corp. (TSXV:NVO), GT Gold Corp. (TSXV:GTT), Mawson Resources Ltd. (TSX:MAW) and Monarques Gold Corp. (TSXV:MQR).  read more


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