RCKS talk

Wednesday, November 22, 2017 Derek Macpherson

RCKS Charts: MTO, OSK, SEK & ECR

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In this edition of RCKS Charts, Keith has evaluated Metanor Resources Inc.(TSXV:MTO), Osisko Mining Inc. (TSX:OSK), Secova Metals Corp. (TSXV:SEK) and Cartier Resources Inc. (TSXV: ECR). read more


Thursday, November 16, 2017 Derek Macpherson

MTO Intersects High Grade Gold at Barry

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Metanor Resources Inc. (TSXV:MTO) has reported results from its ongoing drilling program at the Barry gold deposit, which identified multiple gold-bearing zones through four drilling intercepts including 14.5 g/t Au over 2m and 5.8 g/t Au over 4.3m. The company has now identified gold-bearing structures in every sector of the deposit, which reflects the potential to expand the size and confirm the continuity of gold mineralization in these structures. The structures currently cover a total strike length of 900m and a depth of 550m, which continues to make this project very attractive for future underground extraction. We expect further results from the ongoing drill programs at both Barry and Bachelor to be important near-term catalysts for the company.  read more


Thursday, November 02, 2017 Derek Macpherson

MTO Intersects High Grade Gold at Bachelor

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Metanor Resources Inc. (TSXV:MTO) has reported results from its ongoing underground drilling program at the Bachelor Mine. In September 2017, Metanor developed its first diamond drill bay on an exploration drift that was developed form the Bachelor Mine to the south on level 11 (Figure 1). The objective of drilling was to test the extension of the Moroy vein at depth, results returned 41.6 g/t Au over 1.2m (Figure 2). Drilling will continue from this development for the following months as the company continues development south along the exploration drift towards the Moroy veins. Drift development is expected to reach the new veins in January 2018. We expect further results from the ongoing drill programs at both Barry and Bachelor to be important near-term catalysts for the company.  read more


Monday, October 23, 2017 Derek Macpherson

RCKS 5th Annual Fall Mining Showcase Presenter Preview

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On Thursday October 26, 2017, Red Cloud Klondike Strike Inc. will be hosting its 5th Annual Fall Mining Showcase. The event features presentations from 18 companies, including a themed breakfast and lunch presentation from industry leaders. For more details, please visit our event page. In this post, we provide a brief preview on the 18 presenting companies and 19 banner participants that will be in attendance.  read more


Monday, October 23, 2017 Derek Macpherson

MTO Reports FQ4; Meets F2017 Guidance

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Metanor Resources Inc. (TSXV:MTO) reported FQ4 2017 and F2017 year-end (June 30th year-end) financial results with gold production of 7,248 ounces for the quarter and 34,853 ounces for the fiscal year. Last quarter the company raised its production guidance from 28k-33k ounces of gold to 33k-36k. Although production declined QoQ (Figure 1), the company met its F2017 production guidance which was up 4.2% from 33,450 ounces of gold in fiscal 2016. The company also decreased cash costs by 6% from C$1,207/oz in F2016 to C$1,134/oz in F2017. We expect operating results from the most recently completed quarter (quarter-end September 30) along with results from the ongoing drill programs at both Barry and Bachelor to be important near-term catalysts for the company.  read more


Tuesday, October 17, 2017 Derek Macpherson

MTO Extends Shear Zones at Barry; Drilling Continues

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Metanor Resources Inc. (TSXV:MTO) reported results from ongoing surface drilling at its Barry project in Quebec. Since the last results, 24 holes have been drilled over 11,163m which have extended an existing shear zone 400m east. These results were highlighted by 4.0m at 8.4 g/t Au (MB-17-102) and 3.0m at 27.8 g/t Au (MB-17-111). The company notes it has differentiated many gold bearing shear zones east of the pits by reducing the spacing between drill holes. The continued confirmation of and identification of new shear zones supports our and the company’s view that a high-grade underground mining scenario is more likely than the open-pit only scenario outlined in the 2016 PEA. Exploration continues in the west with two drills, as well, a third drill is operating ~1km north-east of the mining leases following up on results from the 2017 geophysical aerial survey. We expect further results from the ongoing drill programs at both Barry and Bachelor to be important near-term catalysts for the company along with FQ4 production and financial results. read more


Tuesday, September 19, 2017 Derek Macpherson

MTO Renegotiates SSL Stream

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Metanor Resources Inc. (TSXV:MTO) and Sandstorm Gold Ltd. (TSX:SSL) have amended the prior agreement which required Metanor to sell 20% of its gold production at a price of US$500, to a 3.9% NSR on all minerals produced from both the Bachelor and Barry projects, as well as any surrounding exploration properties. The amended terms will become effective upon Metanor delivering 12,000 oz Au for US$500 to Sandstorm. For a repurchase payment of US$2 million for both properties individually, Metanor can reduce the NSR to 1.8%. The company noted it will be increasing drilling at Bachelor. We expect further results from the ongoing drill programs at both Barry and Bachelor Lake to be important near-term catalysts for the company along with FQ4 production and financial results. read more


Monday, August 28, 2017 Derek Macpherson

MTO Drilling Focuses on Shear Zones at Barry

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Metanor Resources Inc. (TSXV:MTO) reported results from ongoing surface drilling at its Barry project in Quebec. Drilling has been focused on gold bearing shear zones around the Barry pit, which are now presenting continuity over a 600m strike length and 400m vertically. Drilling was highlighted by 4.8 g/t Au over 9.0m (hole MB-17-83) and 7.1 g/t Au over 8.2m (hole MB-17-99). Importantly, these shear zones present an opportunity for underground mining versus the open-pit only scenario discussed in the 2016 PEA. Additional drilling will continue to identify and extend these shear zones. The company noted it is also working on permits to expand the camp in order to grow its workforce to support the construction of a ramp to gain underground access to other shear zones. We expect further results from the ongoing drill programs at both Barry and Bachelor Lake to be important near-term catalysts for the company along with FQ4 production and financial results. A third drill rig is operating at the Moss target, which is approximately halfway between the Barry Deposit, and Osisko Mining’s (TSX:OSK) Windfall Lake deposit. read more


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