RCKS Talk

27-Jun-2018

Mawson Resources Ltd.

Mawson Reports Au-Co Drill Results

Impact: Mildly Positive

Mawson Resources has announced the results of 10 holes drilled during the winter drill program at its100% owned Rajapalot Au-Co project in Northern Finland.
  • Cobalt assays were added to previously gold-exclusive assays results for hole PAL0093, returning 33.6m of 9.7g/t AuEq (8.0g/t Au and 823ppm Co) - a 22% increase from gold-only results, which continues to reflect the spatial relationship with gold (Figure 2)
  • Drilling extended the Polokas zone 1.8km and 100m down plunge and as drilling continues, increased knowledge of the mineralized system is facilitating regional targeting with 1-2km step-out holes
  • Ground magnetic surveys will commence in late June while downhole electromagnetic surveys will begin in September, with the purpose of further refining winter 2019 drill targets
Assays from 36 drillholes have now been released with 39 holes currently being logged and assayed. We expect results from re-assaying and drilling to be upcoming catalysts for the company, as it looks to build a maiden resource.

26-Jun-2018

Tinka Resources Ltd.

Tinka Drills 10m Grading 44% Zn at West Ayawilca

Impact: Positive

Tinka Resources has announced assay results for seven new drill holes at their Ayawilca project, as a part of their ongoing resource step out program.
  • Drill hole A18-129 intersected 44% Zn over 10.4 meters, the highest-grade zinc intersection ever encountered at Ayawilca and over a significant interval
  • The intersection has opened up a new high-grade exploration target at depth and down-plunge, which is located underneath the phyllite metamorphic rocks previously thought to be the floor of the zinc mineralization at the time of the West Ayawilca resource update (Figure 1)
  • The 3 operating rigs are expected to continue to at least mid-August and drilling at Zone 3, one of the main target areas will resume later in the year; a PEA is planned for Q4 2018
Drill results continue to highlight further expansion potential on the Ayawilca property after the last resource update increased zinc resources by 130%. We believe that the ongoing drilling updates and the significant exploration potential of the Ayawilca property should be important catalysts for the company to close the valuation gap to peers.

25-Jun-2018

eCobalt Solutions Inc.

Update on OFS for Idaho Cobalt Project

Impact: Mildly Negative

eCobalt Solutions has provided an update on the Optimized Feasibility Study (OFS) and project financing for its 100% owned Idaho Cobalt Project, located in the heart of the Idaho Cobalt Belt.

  • Metallurgical optimization testing has brought to light the necessity for changes to be added to the flowsheet; due to this, additional time is needed to complete the OFS - which is now expected for Q3 of this year
  • The company is currently evaluating prospective long-term partnerships as well as term sheets they have received from a variety of potential investors in order to make a final financing decision for the project
  • The current project schedule is expected to be maintained through advancement of civil construction and the target date for commercial production remains H1 2020
We view eCobalt as one of the few companies positioned to meet the near-term increase in cobalt demand, taking advantage of the current upswing in metal prices. The project’s location, in the U.S., places it in a mining friendly jurisdiction with low political risks versus other Cobalt developers.

25-Jun-2018

Ascot Resources Ltd.

Ascot Intersects High-Grade Zones at Big Missouri

Impact: Positive

Ascot Resources has released results from the first 25 drillholes in the Big Missouri ridge area, the second target area at the Premier-Dilworth property near Stewart, British Columbia.
  • The company intercepted high-grade zones at the Big Missouri area, which includes 15.34g/t AuEq over 7.3m and 10.34g/t AuEq over 7.0m
  • Results support the company’s goal in defining a second high-grade underground resource to follow that of the Premier/Northern Lights resource update in the southern area of the property, which are both expected to enable the company to restart production and have sufficient feed for the Premier mill
  • Ascot is working towards recommencing underground production at the Premier site, with the current step being the 2018 drill program – designed to increase the existing resource base to have sufficient feed for the Premier mill
Based on the company’s recent resource update (open pit & underground), Ascot trades at a discount (C$32/oz versus peers at C$89/oz). We expect the ongoing news from exploration and infill drilling on higher-grade underground resources to close the gap to peers.

21-Jun-2018

Moneta Porcupine Mines Inc.

More High-Grade Intercepts from Golden Highway

Impact: Mildly Positive

Moneta Porcupine announced the results from 7 diamond drill holes completed at on the South West Deposit at the Golden Highway Project near Timmins.
  • Step-out drilling has continued to extend the strike and depth of the vein structures including the discovery of the new, Walnut vein, increasing the total number of veins to 17
  • Moneta highlighted drillhole MGH17-081 intersecting 1.93m grading 34.36 g/t Au including 1.03m grading 65.10 g/t Au, which confirmed the northern and up-dip extensions of the Cedar vein
  • Moneta is continuing with the 41,100m drill program 70-hole expansion to their drilling program; assays for additional holes are pending for South West and “55” areas and will be released as they become available
After our site visit, we believe that the likely high-grade resource at Golden Highway is going to be an important catalyst for the company and make it attractive to potential bidders. The market is currently undervaluing the potential for the definition of a significant maiden underground resource.

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