RCKS Talk

31-May-2018

Pure Energy Minerals Ltd.

Basic Pilot Plant Design Complete for Clayton Valley

Impact: Mildly Positive

Pure Energy has announced the completion of the basic design for the pilot plant at its flagship Clayton Valley Project in Nevada.

  • The first-of-its-kind facility is expected to be the first pilot-scale implementation of the Tenova Process in the world
  • Tenova Process designed to exclude solar pond evaporation, increase and accelerate lithium recovery, and reduce the associated environmental footprint of lithium production
  • Data from a successful pilot plant is expected to be used in the design of a full-scale commercial plant using the Tenova Process to produce lithium hydroxide directly from Clayton Valley brine
The company plans to continue with the process of permitting and designing the pilot plant to test the capability of lithium brine extraction and processing technologies at the Clayton Valley Project. 

31-May-2018

Anaconda Mining Inc.

Goldboro Continues to Grow

Impact: Mildly Positive

Anaconda has announced new assay results from four drillholes (1,043m) at its Goldboro project in Nova Scotia. The diamond drill program has totalled 9,753m since October of last year.

  • Highlights include 1.5m at 62.01g/t Au (BR-18-26), 2.5m at 23.24g/t Au (BR-18-28) and 4.5m at 7.12g/t Au (BR-18-29), which extended the mineralization of the East Goldbrook Gold System both down dip and down plunge
  • Results continue demonstrate the continuity of the deposit and suggest resource growth is likely with the next update – 10% increase in both grade and tonnes at Goldboro increases our overall NAVPS estimate by 9%
  • Despite strong exploration and operating results, Anaconda’s share price has had muted performance as a result of the ongoing hostile takeover of Maritime Resources. We believe once a there is a clear resolution to this process, Anaconda’s share price is likely to re-rate
Anaconda continues to trade at discount to peers (0.34x NAV, peers 0.65x); ongoing exploration success and the completion of the Maritime acquisition should close the gap to peers. 


30-May-2018

Miramont Resources Corp.

Sampling from Cerro Hermoso Identifies New Cu Target

Impact: Mildly Positive

Miramont has identified a new copper-rich target covering 300m by 600m through samples collected from a “dike swarm” at the company’s Cerro Hermoso project in southern Peru.
  • 44 of 55 samples contained at least 0.1% Cu, the highest being 1.08% Cu.
  • 16 of 29 samples collected in the Carbonate Replacement Zone contained greater than 0.1% Cu including 7.5%, 6.0% and 5.1% Cu and contained silver as high as 18.8 oz/t Ag
  • First phase of drilling comprised of 5,000m is set to begin in the coming weeks upon completion of geophysical surveys and sufficient permits in place
Sampling results from Cerro Hermoso are encouraging, drill results from the pending program should be an important catalyst for the company.

30-May-2018

Brixton Metals Corp.

Drilling at Langis Returns 3.55% Co

Impact: Positive

Brixton reported additional high-grade cobalt intercepts (Figure 1) from drilling at the company’s Langis project in Ontario’s Cobalt Camp.

  • Results were highlighted by 3.55% Co, 3.8 g/t Ag and 0.10% Ni over 0.98m which equates to 3.57% CoEq or 5,189 g/t AgEq (LM18-23)
  • Further broad low-grade Co-Ni-Ag was intersected in the basement Archean meta-volcanics and meta-sediments
  • Results continue to highlight the benefit of Brixton’s more advanced knowledge of the region and we expect follow-up drilling to yield similar success
Based on peers in the Cobalt Camp, we believe Brixton remains undervalued, for example, First Cobalt (TSXV:FCC ) trades at C$0.012 EV/ha, while Brixton trades at C$0.004 EV/ha. In our view, continued exploration success in the Cobalt camp and the start of exploration at the company’s Hog Heaven project should drive a re-rating. 

29-May-2018

Metanor Resources Inc.

Bachelor Significantly Extended to Depth

Impact: Positive

Ongoing underground drilling from the Bachelor Mine has extended the mine at depth, highlights include 19.1 g/t Au over 3.6m (14-238), 12.0 g/t Au over 4.0m (E18-234) and 6.4 g/t Au over 21.8m (14-239).
  • Drilling extends Bachelor 183m below lowest working level, adding significant potential for increased resources and reserves
  • Another structure could exist perpendicular to the Main vein, more drilling required
  • Moroy Zone remains important target, 2 drill rigs are in operation
With the only permitted mill and an expectation for meaningful resource growth, Metanor’s $57M market cap (EV$ 52M) suggests it is undervalued relative to other Urban-Barry camp peers, which are development stage.

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