RCKS Talk

10-Sep-2018

NxGold Ltd.

Systematic Exploration Confirms our View on Mount Roe’s Potential

Impact: Positive

NxGold has provided an update on its 2018 exploration program at the Mt. Roe Project in the Pilbara, which includes results from recently completed reconnaissance stream sediment sampling and assay results from the preliminary follow-up trenching/stripping program.

  • Initial exploration has led to the identification of vein structures in the ‘Specimen Area’, Dryblower area, and 80oz area among others, selective sampling of which returned 102g/t Au and 12.7g/t Ag (samples 18SH024) from the vein structures in the Specimen Area
  • Stream sediment results, were also positive and other sampling on the property continue to return encouraging values. As well, the company has exposed 420m2 of conglomerate in tow areas. Samples from these trenches have been completed, to test for fine gold, the company is assessing locations for larger scale sampling
  • In our view, the company’s systematic approach and the results yielded by it continue to support our view that Mt. Roe is highly prospective for a paleo placer conglomerate gold deposit, with recent work suggesting the potential also exists for a traditional hard rock deposit
We view this update as positive as it continues to support our view of the potential conglomerate gold mineralization at Mt. Roe, we view that with ongoing exploration and newsflow, a re-rating is possible as the company’s now C$9.8M market cap (C$4M EV) does not properly account for the potential of the project, relative to its Pilbara peers. We expect ongoing assay results from grab sampling, mapping results and ongoing trenching to be important catalysts for the stock.

08-Aug-2018

NxGold Ltd.

Mount Roe Sampling Results Demonstrate Potential

Impact: Positive

 

NxGold has provided an update on its 2018 exploration program at the Mt. Roe Project in the Pilbara, which includes recently completed reconnaissance stream sediment sampling and the completion of a preliminary follow-up trenching/stripping program.
  • The purpose of the stream sampling was to identify areas with the potential to host lode gold style mineralization and 24 of the 45 (5 were controls) samples contained gold grains, which is indicative of that style of mineralization
  • Trenching and stripping work included 16 trenches and trench extensions totalling 508m in length, further exposing the conglomerate target horizon and further evaluating potential gold bearing structures in the "Specimen" Area, where the target structure was traced ~50m
  • The stream samples have defined key portions of the ridge with potential to host gold mineralization and vein structures were identified in the Specimen Area supports the potential existence of primary gold mineralization
We view this update as positive as it confirms the company’s interpreted strike length at Mt. Roe, we view that with ongoing exploration and newsflow, a re-rating is possible as the company’s now C$16M market cap does not properly account for the potential of the project, relative to its Pilbara peers. We expect assay results from grab sampling, mapping results and ongoing trenching to be important catalysts for the stock.

 

28-Jun-2018

NxGold Ltd.

Strike Extended and Fine Gold Identified at Mt. Roe

Impact: Positive

NxGold has completed its first trenches at the Mt. Roe project in the Pilbara of Western Australia with the objective of evaluating the target conglomerate horizon. The company has also completed first pass exploration at its Prinsep project, ~12km north of Mt. Roe.

  • Trenching along 7km of prospective strike length looks encouraging
  • Gold nuggets discovered at Prinsep project
  • With a completed C$4.3M financing, the company is well-funded to execute on its business plans
We expect assay results from grab sampling, mapping results and the start of trenching to be important catalysts for the stock.

22-May-2018

NxGold Ltd.

Strike Extended and Fine Gold Identified at Mt. Roe

Impact: Positive

 

Initial mapping at NxGold’s Mt. Roe project has highlighted its exploration potential and therefore given the recent success at the Pilbara assets, the company has decided to withdraw from Chicobi to focus on the Mt. Roe project in addition to its Kuulu project in Nunavut.
  • Mapping increases strike by 75% to 7km, identifies near surface fine gold
  • Upcoming exploration key to understanding geology of project
  • Promising results shifts’ focus to Mt Roe & Kuulu with withdrawal from Chicobi
Shares of the company increased ~61% on Tuesday following the news, further supporting our view that a re-rating is possible as the company’s now C$16M market cap does not fully account for both Mt. Roe and Kuulu in NX’s valuation. We expect assay results from grab sampling, mapping results and the start of trenching to be important catalysts for the stock.

24-Apr-2018

NxGold Ltd.

First Steps at Mt. Roe Look Good; Project on the Right Track

Impact: Mildly Positive

NxGold has discovered more gold nuggets and provided an update on its maiden mapping program at its Mt. Roe Gold Project in the Pilbara, which is adjacent to properties held by Novo Resources (TSX:NVO) and Artemis Resources (ASX:ARV).

  • First steps look good, company remains on the right track
  • More nuggets discovered by management along Mt. Roe conglomerate contact zone
  • The second style of nuggets identified at Mt. Roe is interesting
The current market cap, could be ascribed to one of the company’s projects (Mt. Roe, Chicobi, and Kuulu), but not all three, suggesting room for re-rating as each of them progresses. We expect assay results from grab sampling, mapping results and the start of trenching to be important catalysts for the stock.

 

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