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Tuesday, January 09, 2018 Derek Macpherson

GT Gold Extends Saddle South with 12.1 g/t over 5.8m

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GT Gold Corp. (TSXV:GTT) has reported assay results from its summer drill program at its Saddle Au-Ag discovery, located on the company’s Tatogga property in BC. Drilling has expanded the Saddle South mineralization along strike to the east and west, extending the total strike length to more than 1000m. The company highlighted reconnaissance drill holes TTD059 and TTD061 that were drilled 300m and 500m, respectively to the east of previous drilling and step-out hole TTD051 that was drilled due south from a set-up 190m west of previous drilling. While targeting previously identified geochemical and IP anomalies on the eastern slopes of Saddle South, the company intersected high-grade gold of 12.12 g/t Au over 5.83m from a depth of 129m. In addition to continued exploration at Saddle South, the company plans to now make Saddle North a focus for exploration in 2018 as well. The company has stated that it sees significant potential for a large high-grade gold-silver system at Saddle South and Saddle North, which is continuing to be supported by assay results from the recent drilling campaign.  read more

Monday, January 08, 2018 Derek Macpherson

MAW's East Rompas Sampling Results Positive; Drilling Underway

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Mawson Resources Ltd. (TSX:MAW) reported results from exploration activities including outcrop, mini-drill and diamond saw channel sampling on the East Rompas target (Figure 1), at its Rompas-Rajapalot project in Finland. 78 samples were collected over a 700m trend (within a mineralized trend of 1.2km in strike), highlights include, 283.0 g/t Au in a 0.2m channel sample, 42.2 g/t Au in a 0.7m channel sample and 45.4 g/t Au in a mini-drill grab sample. East Rompas is currently the focus of 2,000m of drilling (15,000m drill program), 580m of which are complete, the remaining is expected to be completed at the end of the month. Results from ongoing drilling are expected to be an upcoming catalyst for the company, as it looks to build a maiden resource. read more

Monday, January 08, 2018 Derek Macpherson

ANX’s Argyle Resource Exceeds Expectations

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Anaconda Mining Inc. (TSX:ANX) reported an initial mineral resource estimate for the Argyle Gold Deposit, hosting 1.1Mt at 2.01 g/t Au, containing 68,600 oz Au (Indicated + Inferred), exceeding our expectations of ~40-45k oz. This maiden resource is important, as it extends the operating life of the Point Rousse project by 2-3 years, which provides operating runaway for the company to follow-up on the multiple prospective targets within trucking distance of the mill. Permits and approvals for production are expected in the spring of 2019, the company is expecting to submit the environmental assessment application documents in February of this year. A 1,000m drill program is underway at Argyle, which remains open in all directions. Argyle demonstrates Anaconda’s ability to add value in the near-term. Based on our preliminary estimates, we believe that at its current market cap (C$44.4 million), investors are either paying for Point Rousse (~value of C$40-50 million based on our preliminary DCF) or Goldboro (~value of C$41.5 million based on C$50/oz) suggesting good value at current levels. In our view, the upcoming PEA for Goldboro, is likely to be an important catalyst for Anaconda as it should allow investors to better understand the potential of this asset. Following that, operations later in F2018 (year-end May 31) should see production and cash flow increase as mining at Point Rousse moves to the higher-grade Stog’er Tight deposit. In our view, both these catalysts have the ability to cause the market to ascribe a fair value to both projects. read more

Saturday, January 06, 2018 Derek Macpherson

Site Visit: Urban Barry a New Gold Camp, Bonterra’s Tent Pitched, Building the Fire

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We view Bonterra Resources Inc. (TSXV:BTR) as having the potential to put together a sizeable high-grade resource in one of Canada’s most active exploration camps. On December 7th we visited Bonterra’s Gladiator Project in the Urban Barry Camp in the Abitibi Greenstone Belt, located approximately 170 km NE of Val-d’Or and 125 km SW of Chibougamau in the Urban, Barry and Bailly townships of Québec. read more

Friday, January 05, 2018 Derek Macpherson

Alpala Maiden Resource Just the Start; Recent Site Visit Suggests Significant Exploration Upside Remains

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SolGold Plc. (TSX:SOLG) announced a maiden resource for the Alpala deposit at its 85% owned Cascabel project in northern Ecuador. At a 0.3% CuEq cut-off, 1.08 billion tonnes at 0.68% CuEq (Figure 1) have been defined, but this includes a high-grade core of 120 million tonnes at 1.8% CuEq. Based on existing block cave operations, the tonnage and grade of the high-grade core are likely to be supportive of an economic operation. Moreover, our recent site visit highlighted the exploration potential within the Alpala Complex and on the wider Cascabel property beyond. Consequently, we believe this maiden resource is a good first step, but that there is likely more to come. read more

Thursday, January 04, 2018 Derek Macpherson

FCC Tucks-In 5 Claims in North Cobalt

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First Cobalt Corp. (TSXV:FCC) has acquired five unpatented claims in the North Cobalt region of the Cobalt Camp, three of which border current land holdings east of the historic Silver Banner and Ophir mines (Figure 1) where muckpile grab samples included 1.14% Co, 0.69% Co and 0.47% Co. In the summer of 2018, the company is planning a grassroots exploration program which will include soil and till geochemical surveys as well as field mapping. We view the consolidation favourably, as the company continues to expand its land position in the Cobalt Camp. 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. Besides pending drill results, important upcoming catalysts are likely to include planned metallurgical test results. read more

Wednesday, January 03, 2018 Derek Macpherson

RPX Continues to Have Drilling Success

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Red Pine Exploration Inc. (TSXV:RPX) has reported the results from two drill holes completed during its ongoing 20,000m drilling program at the company’s Wawa Gold property. Red Pine highlighted drilling intersections in the northern extension of the Surluga Deposit, which included 10.3m of 3.46 g/t Au in drill hole SD-17-109 and 17.6m of 1.13 g/t Au in drill hole SD-17-113 (Figure 1). These drill holes intersected the high-grade gold zones and hangingwall zones. The company intends to continue testing extensions of the Surluga Deposit beyond the current resource to the north, south and hangingwall directions in order to further define the areas for inclusion in a forthcoming 43-101 resource estimate. Red Pine currently trades at a steep discount to peers (C$34/oz vs. peers at C$54/oz). We believe that as Red Pine continues to demonstrate the potential of the Wawa Gold Project through its ongoing exploration program, it should close the valuation gap to peers, particularly when you take into account the significant growth potential of this deposit. read more

Wednesday, January 03, 2018 Derek Macpherson

eCobalt Reports Successful Concentrate Roasting

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eCobalt Solutions (TSX:ECS) reported positive results from its optimization efforts on its Idaho Cobalt Project (“ICP”). Laboratory scale testing has demonstrated the successful removal of arsenic from ICP ore concentrates by conventional roasting methods. These results reflect the company’s new objective of producing a clean (low arsenic content) cobalt concentrate product, an upstream precursor material for battery cathode production, that may result in material reduction of capital and operating cost at the Cobalt Production Facility. This update demonstrates to potential offtake partners that the company is well on its way to reduce the technical and execution risks of the project. 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. read more


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