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Friday, October 20, 2017 Derek Macpherson

Orford Site Visit: High Discovery Potential on a Regional Scale Land Package

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This summer we had the opportunity to visit Orford Mining Corp.’s Qiqavik gold property located in northern Quebec. Orford Mining Corp is to be formed following the completion of the amalgamation between True North Nickel Inc. and Focused Capital Corp. The company is expected to begin trading shortly. We were impressed with the level of work completed to date and believe the company is well positioned to make a discovery on its regional scale land package. As well, the company has been active during this summers field season, including 2,723m of drilling, which should provide steady news flow towards the end of the year once the company begins trading. Finally, Orford has been able to attract a strong management and technical team, which should have them well positioned to advance Qiqavik.    read more


Friday, October 20, 2017 Derek Macpherson

AbraPlata Reports Good Results at Fantasma

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AbraPlata Resource Corp. (TSXV:ABRA) has announced the latest drill results from the Fantasma mineralized zones at the Diablillos project in Argentina. Results were highlighted by 89.6 g/t Ag over 9 meters and 227.0 g/t Ag over 2 meters (DDH-17-152). Drilling at Fantasma has indicated mineralization and alteration over a 400-meter zone orientated along a west-north-west trend. The identified high-grade core of the mineralized zone appears to have a strike of 200 meters and a width of about 30 meters (Figure 1). This zone is open towards the Oculto deposit, which currently hosts an indicated resource of 27.7 Mt at 91.2 g/t Ag and 0.85 g/t Au. The Oculto deposit is one of nine mineral occurrences on the Diablillos property with the Fantasma zone located 800 meters to the west. These results from the shallower Fantasma zone are important, as we expect a maiden resource to be included in the pending PEA, likely providing lower pre-strip than the deeper Oculto deposit. read more


Thursday, October 19, 2017 Derek Macpherson

RCKS Charts: FM, KL, RIC, TECK, KDX and NVO

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In this edition of RCKS Charts, Keith has evaluated First Quantum Minerals Ltd. (TSX:FM), Kirkland Lake Gold Ltd. (TSX:KL), Richmont Mines Inc. (TSX:RIC), Teck Resources Ltd. (TSX: TECK.A and TECK.B, NYSE:TECK), Klondex Mines Ltd. (TSX: KDX), Novo Resources Corp. (TSXV:NVO).  read more


Wednesday, October 18, 2017 Derek Macpherson

GQC Continues to Expand Cachimbo

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GoldQuest Mining Corp. (TSXV:GQC) has reported assay results for 8 drill holes from its recently discovered Cachimbo deposit. Results were highlighted by hole TIR-17-44 which returned 21.0 m at 7.86 g/t Au, 39.6 g/t Ag, 0.17% Cu and 1.81% Zn (10 g/t AuEq) within a wider interval of 59.5 m at 3.27 g/t Au, 18.94 g/t Ag, 0.07% Cu and 0.73% Zn (4.4 g/t AuEq). These results continue to grow the deposit (Figure 1) and we believe this has the potential to be a second significant deposit within the company’s district scale Tireo project. GoldQuest currently trades approximately at a slight discount to peers at $26/oz (peers $32/oz). We continue to believe that the current valuation does not reflect the exploration potential of GoldQuest’s wider land package. We expect continued exploration drilling, along with permitting updates at Romero to likely be important catalysts for the stock.  read more


Wednesday, October 18, 2017 Derek Macpherson

RDS Extends Vintage Zone

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Radisson Mining Resources Inc. (TSXV:RDS) has announced that they have extended the Vintage Zone by an additional 125m along strike (Figure 1). The company intersected 2.9m of 9.7 g/t Au along strike towards the past-producing O’Brien Mine. We continue to view the discovery of this zone very positively, as it has the potential to materially expand the existing resource, while adding ounces per vertical meter which could expand a future production scenario. The extension of this zone to 325m of strike length, supports our view. The company is awaiting 20 drill holes currently being assayed for a total of approximately 10,500m, which we believe could continue to expand the Vintage zone. The discovery also suggests that the opportunity exists for the company to discover additional zones within the Cadillac and Pontiac sediments. At C$49/oz, Radisson trades in line with peers at C$49/oz; however, this does not properly reflect the recent discovery and expansion of the Vintage Zone, or the expected resource increase with the pending resource update (Q4 2017). We note the company continues to be actively exploring in the sediments around the Vintage zone (results pending) and near the current resource. read more


Wednesday, October 18, 2017 Derek Macpherson

Early NVO Drill Results Suggest Consistent Conglomerate Thickness

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Novo Resources Corp. (TSXV:NVO) has completed drilling of 12 diamond core holes in a 400x200m area (Figure 1), at its earn-in and JV, Purdy’s Reward in Western Australia. In the area drilled the conglomerate had a true width of between 4 and 15m, hole 17PDD007 (pictured in the press release) had an interval of 9.5m of conglomerate. This confirms our view and is important step in de-risking the project. The two main risks to our +10M ounce potential estimate, are conglomerate thickness and grade. This diamond drill program has started reducing the risk around thickness, the ongoing bulk samples and planned large diameter drill program should have the same impact on grade. At its current share price, the market is pricing in a sizeable resource at Novo’s Karratha project, which based on the data to date, we view as very possible. However, additional data, including additional diamond drilling to determine conglomerate thickness (ongoing) and assay results from the ongoing bulk samples and planned large diameter drilling (early 2018), is needed to fully understand this projects potential.  read more


Wednesday, October 18, 2017 Derek Macpherson

FCC Expands Drill Program, Targets Bellellen

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First Cobalt Corp. (TSXV:FCC) has announced an expansion of their 2017 drilling program by 2000m. A sampling program of surface muck pile material from the past-producing Bellellen mine revealed high grade cobalt assays that the company plans to follow up on through 20 shallow drillholes of 50m to 150m in length. The new targets are the suspected halo of cobalt mineralization surrounding the previously mined high-grade veins (Frontier 2 and Bellellen – Figure 1). The extension of the company’s drilling is expected to commence in November and will bring the total drill program for 2017 from 7000 m to 9000 m. 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, pro-forma. Besides pending drill results, important upcoming catalysts are likely to include planned metallurgical test results and the completion of the planned mergers. read more


Tuesday, October 17, 2017 Derek Macpherson

VIT Drills Catto Target

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Victoria Gold Corp. (TSXV:VIT) reported analytical results from their ongoing 2017 exploration program. The targeted Catto Zone is located on the Dublin Gulch property between the flagship Eagle Gold Deposit and the Olive-Shamrock Deposit. Victoria Gold reported 11 exploration drill holes with exceptional results including 24.4 m of 1.64 g/t in drillhole DG17-867C at a depth of 33.5 m. The zone is historically known to host gold and has had limited exploration done to test for potential extensions southeast of the nearby Olive-Shamrock mineralization. Grab samples of 23.7 g/t Au and 65.4 g/t Ag have been found in the Catto Zone indicating the potential for near surface, high-grades. These drill results continue to indicate the exploration potential of the company’s land package and indicates the potential extension of the Olive-Shamrock deposit to the recently drilled Catto Zone. Ongoing exploration should be an important catalyst for the company, as they highlight the potential to expand the resource base on the Dublin Gulch property.  read more


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