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Kirkland Lake Gold is a mid-tier gold producer targeting over 620,000 ounces of gold
production in 2018 from mines in Canada and Australia.
Kirkland Lake Gold's solid base of quality assets is complemented by
district scale exploration potential, supported by a strong financial
position with extensive management and operational expertise.
Learn More
PRESENTATION
http://s21.q4cdn.com/967674075/files/doc_presentations/2018/03/BMOMarch42018.pdf
http://www.klgold.com/home/default.aspx
https://web.tmxmoney.com/article.php?newsid=5539817970401058&qm_symbol=KL
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=138559838
God Bless
Kirkland Lake Gold Ltd. - INVESTOR PRESENTATION -
http://www.klgold.com/investors/investor-presentation/default.aspx
Kirkland Lake Gold Announces Significant Expansion of Lantern Deposit at Cosmo Mine -
DEC 19 2017
http://www.klgold.com/news-and-media/news-releases/press-release-details/2017/Kirkland-Lake-Gold-Announces-Significant-Expansion-of-Lantern-Deposit-at-Cosmo-Mine/default.aspx
Kirkland Lake Gold Reports Continued Exploration Success at Taylor Mine and Intersects New High-Grade Gold Zone -
DEC 18 2017
http://www.klgold.com/news-and-media/news-releases/press-release-details/2017/Kirkland-Lake-Gold-Reports-Continued-Exploration-Success-at-Taylor-Mine-and-Intersects-New-High-Grade-Gold-Zone/default.aspx
Kirkland Lake Gold Declares $0.02 Per Share Quarterly Dividend Payment -
DEC 15 2017
http://www.klgold.com/news-and-media/news-releases/press-release-details/2017/Kirkland-Lake-Gold-Declares-002-Per-Share-Quarterly-Dividend-Payment/default.aspx
Kirkland Lake Gold (TSX:KL) NEWS RELEASES
Kirkland Lake Gold Completes Acquisition of Securities of Novo Resources Corp.
SEP 06 2017
http://www.klgold.com/news-and-media/news-releases/press-release-details/2017/Kirkland-Lake-Gold-Completes-Acquisition-of-Securities-of-Novo-Resources-Corp/default.aspx
http://www.novoresources.com/
http://www.novoresources.com/projects/pilbara/
http://www.klgold.com/news-and-media/news-releases/default.aspx
Kirkland Lake Gold is a mid-tier gold producer targeting 570,000 –
590,000 ounces of gold production in 2017 from mines in Canada and
Australia.
Kirkland Lake Gold's solid base of quality assets is complemented by
district scale exploration potential, supported by a strong financial
position with extensive management and operational expertise.
http://s21.q4cdn.com/967674075/files/doc_presentations/2017/09/PMSSeptember152017v2.pdf
http://www.klgold.com/home/default.aspx
In GOD We Trust -
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
- God Bless
NMKTF: effective Dec 6,2016 Newmarket Gold Inc. will change to Kirkland Lake Gold Ltd. and a one for 2.1 reverse split:
http://otce.finra.org/DLSymbolNameChanges
Kirkland Lake Gold and Newmarket Gold Announce Results of Their Respective Special Meeting of Shareholders Voting in Favour of the Business Combination
Marketwired MarketwiredNovember 25, 2016Comment
TORONTO, ONTARIO and VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 25, 2016) - Kirkland Lake Gold Inc. ("Kirkland Lake Gold", or "KL Gold") (KLG.TO) and Newmarket Gold Inc. ("Newmarket") (NMI.TO)(NMKTF) are pleased to announce that shareholders of the respective companies have overwhelmingly voted in favour of the plan of arrangement (the "Arrangement") to merge the two companies, creating an exciting new mid-tier gold company.
Kirkland Lake Gold Voting Results
89,219,450 common shares of Kirkland Lake Gold, representing 75.93% of Kirkland Lake Gold's issued and outstanding common shares were voted at the meeting of KL Gold shareholders held earlier today. The Arrangement was approved by 82.64% of the votes cast by Kirkland Lake Gold shareholders. A copy of the complete report on voting will be made available under Kirkland Lake Gold's profile on SEDAR at www.sedar.com.
Newmarket Voting Results
The issuance of common shares of Newmarket as consideration under the Arrangement was approved by 99.79% of the votes cast by Newmarket shareholders at the meeting of Newmarket shareholders held earlier today.
Newmarket Gold Inc.
Newmarket Gold Reports US$71.9 Million in Revenue on 54,043 Ounces Sold During Q3 2016; Fosterville Delivers Record Nine Months Production of 107,350 Ounces
VANCOUVER, BRITISH COLUMBIA—(Marketwired - Nov. 3, 2016) - Newmarket Gold Inc. (“Newmarket Gold” or the “Company”) (TSX:NMI)(OTCQX:NMKTF) is pleased to announce financial results for the three and nine months ended September 30, 2016. Full Financial Statements and Management Discussion & Analysis documents can be found at www.sedar.com and the Company’s website, www.newmarketgoldinc.com.
All figures are in United States (“U.S”) dollars, unless otherwise stated.
2016 Third Quarter & Year-to-Date “YTD” Highlights
Business Combination with Kirkland Lake Gold: Creation of a new mid-tier gold producer with annual production of over 500,000 ounces in Tier 1 mining jurisdictions. The transaction provides a superior valuation opportunity for shareholders of both companies, delivering high-quality, low-cost production, an attractive growth profile, industry leading financial strength and superior cash flow generation.
Record YTD Production: Quarterly consolidated gold production of 55,794 ounces with record YTD 2016 consolidated gold production of 175,041 ounces.
Continued Improving Cash Position: Cash balance of $82.5 million (equivalent to C$108 million), an increase of 126% from $36.5 million at Q4 2015. Working capital position of $64.4 million. The Company is essentially debt-free with only $5.9 million in capital lease obligations and other loans.
Generating Free Cash Flow: Operating cash flow for Q3 2016 of $25.4 million or $0.14 per basic share based on revenue of $71.9 million. Q3 2016 free cash flow of $11.9 million based on operating cash flow less capital expenditures of $13.5 million, after investing $3.3 million into growth programs. YTD free cash flow of $38.2 million after investing $10.7 million in growth programs.
Record YTD Mine Operating Income: Q3 2016 Mine Operating Income of $22.1 million, up 75.5% from Q3 2015 as a result of a higher average realized gold price. Record YTD mine operating income of $67.7 million was the result of increased ounces sold and a higher gold price environment.
Fosterville Achieves Strong Quarterly Performance: Gold production of 36,967 ounces based on average mill grade of 6.91 g/t Au and quarterly recovery of 89.7%. Fosterville attained productivity improvements through increased mine tonnage rates and mill throughput rates.
Fosterville Achieves Low Quarter Operating Cost & Low AISC: Q3 2016 Operating cash cost per ounce sold of $471 and All-in-sustaining costs (“AISC”) per ounce sold of $765.
Consolidated YTD Operating Cash Cost & Low AISC: YTD 2016 Operating cash costs per ounce sold of $714 and AISC per ounce sold of $971.
Net Income: $7.1 million or $0.04 Basic EPS in Q3 2016 and $30.3 million or $0.18 Basic EPS YTD, with the current quarter impacted by a higher total tax expense resulting mainly from the exceptional performance at Fosterville in a strong Australian gold price environment, accounting for a loss of $0.05 per basic share.
Douglas Forster, President & CEO, Newmarket Gold commented: “Based on record consolidated production in the first nine months of 2016, Newmarket Gold is on track to meet the Company’s improved guidance of 225,000 - 235,000 ounces of gold as announced in Q2 2016. The business combination with Kirkland Lake Gold is expected to close during Q4, more than doubling 2016 pro-forma gold production to over 500,000 ounces from a new operating platform of 7 underground mines in Tier 1 mining jurisdictions. In addition, the combined company will generate superior free cash flow and have strong financial and technical capabilities to exploit its pipeline of exploration and development opportunities to fuel future organic growth. We believe the combined entity will be a preferred investment among mid-tier gold producers, commanding an increased capital market profile and enhanced shareholder value.”
“Newmarket Gold achieved record production of 175,041 ounces of gold for the first nine months of 2016, led by high grade, low cost ounces from our flagship Fosterville Mine which produced 107,350 ounces of gold with YTD AISC per ounce sold of $743. Productivity improvements at Fosterville were achieved through increased mine production utilizing new higher capacity haul trucks and the opening of new production levels in the Lower Phoenix area, as well as increased mill throughput rates, all of which contributed to favorable third quarter operating cash costs per ounce of $471 and an AISC per ounce sold of $765. Newmarket’s liquidity position continues to improve, supporting our overriding objective to grow free cash flow which totaled $11.9 million in Q3 2016 and $38.2 million YTD. Since the start of 2016, we have generated cash flow from operations of $74.7 million and ended the third quarter with $82.5 million in cash, a 126% increase from the start of the year.”
CONSOLIDATED RESULTS SUMMARY - For the period ended September 30, 2016
Financial Results
(in thousands, except per share and per ounce amounts) Q3 2016 Q3 2015 YTD 2016 YTD 2015
Revenue ($) 71,940 60,664 216,034 199,605
Cost of operations, including depletion and depreciation ($) (49,861 ) (48,082 ) (148,316 ) (147,743 )
Mine operating income ($) 22,079 12,582 67,718 51,862
Net income (loss) ($) 7,069 (10,325 ) 30,292 17,450
Net income (loss) per share ($/share) - basic * 0.04 (0.08 ) 0.18 0.14
Net income (loss) per share ($/share) - diluted * 0.04 (0.08 ) 0.17 0.14
Cash generated from operating activities ($) 25,438 11,345 74,740 65,903
Capital investment in mine development, property, plant and equipment ($) 13,508 13,794 36,586 44,412
Average realized gold price per ounce ($) 1,329 1,109 1,240 1,164
Operating cash costs per ounce sold ($) 777 715 714 693
All-in sustaining cash costs per ounce sold ($) 1,076 1,011 971 984
* Refer to Note 2 of the condensed interim consolidated financial statements for the three and nine months ended September 30, 2016, pre-Arrangement net income per share is presented after giving effect to the Arrangement share exchange ratio of 0.2456.
Operational Results Q3 2016 Q3 2015 YTD 2016 YTD 2015
Ore Milled (t) 542,574 565,254 1,679,426 1,739,356
Grade (g/t Au) 3.58 3.32 3.66 3.40
Recovery (%) 89.1 86.5 88.7 87.1
Gold Oz Produced 55,794 53,817 175,041 169,491
Gold Oz Sold 54,053 54,521 174,072 170,968
THIRD QUARTER 2016 FINANCIAL REVIEW
Newmarket Gold produced 55,794 ounces during the third quarter of 2016, and has achieved record production of 175,041 ounces for the first nine months of 2016. Fosterville achieved third quarter production of 36,967 ounces, only 1% off the record performance achieved in Q2 2016, accounting for 66% of consolidated production. Cosmo achieved a record recovery rate of 95.3%, up from its record of 94.2% in the previous quarter, contributing 10,677 ounces of production during Q3 2016, with Stawell contributing 8,150 ounces.
Revenue for Q3 2016 was $71.9 million based on 54,053 ounces of gold sold at an average realized gold price of $1,329 per ounce, an increase in revenue of 19% compared to Q3 2015, predominantly the result of a nearly 20% increase in the average realized gold price. On a year to date basis, revenue has increased 8% compared to the first nine months of 2015 due to a 1.8% increase in gold ounces sold in a higher gold price environment.
Operating expenses for the third quarter of $41.1 million marked a 7.4% increase over Q3 2015, driven by a 4.7% appreciation in the Australian dollar over the comparative period, and higher operating costs at Stawell. On a consolidated basis, operating cash costs per ounce for the third quarter were $777 per ounce, an 8.7% increase over Q3 2015. Fosterville achieved operating cash costs per ounce of $471, a decrease of 2.1% compared to Q3 2015, as a result of increased productivity, the focus on total extraction mining methods, and the resulting higher grades, which more than offset the impact of the stronger currency. Fosterville’s improved productivity and consequent increase in throughput compared to Q2 2016, resulted in a 10% decrease in the operating cost per tonne milled to A$112 from Q2 2016. Operating costs in absolute terms for Cosmo for Q3 2016 were consistent with Q3 2015, impacted in US dollar terms mainly by the appreciation of the Australian dollar. However, operating cash costs of $1,317 per ounce sold were significantly higher due to a combination of lower throughput due to mine sequencing issues and constraints associated with unfavorable ground conditions and dilution, and resultant lower grades. Going forward, mining location flexibility and ground conditions will improve as recent drilling at Cosmo has identified additional potential ore sources near existing infrastructure. These new ore sources will enable multiple mining areas to be established and be incorporated in the mine plan in the near term. Operating cash costs at Stawell increased from the prior year to $1,402 per ounce sold in Q3 2016, as reduced throughput resulted in 10.1% less gold ounces sold compared to Q3 2015. The Company continues to focus on the new Aurora B gold discovery at Stawell with drill results highlighting the potential to build Mineral Resources on the expansive East Flank of the Stawell gold system.
As a result of the challenges at Cosmo in the third quarter, the Company expects to be at the upper end of its full year guidance range of $650 - $725 per ounce. Further, as a resulting consequence of the impact of lower ounce production at Cosmo during the third quarter, all-in sustaining costs per ounce have increased on a consolidated basis to $1,076 per ounce, offset by continued strong performance at Fosterville which achieved all-in sustaining costs per ounce sold of $765 in the third quarter. The mining challenges at Cosmo during the third quarter, and to a lesser extent at Stawell, will put pressure on the all-in sustaining cost guidance of $900-$975 per ounce with year-to-date all-in-sustaining costs per ounce sold of $971.
Royalty expense increased 24% compared to the third quarter of 2015 and 32% for the first nine months of 2016, due to the impact of strong production and gold price on revenues, and the commencement of a 1% NSR royalty at Stawell as of January 1, 2016. Depletion and depreciation was lower on both a quarterly and year-to-date basis compared to 2015, the result of lower book values at Cosmo and a longer mine life at Fosterville, which was partially offset by the appreciation of the average Australian dollar over those periods.
Mine operating income for the third quarter of 2016 was $22.1 million, a 75.5% increase over the corresponding quarter of 2015 as a result of the significantly higher average realized gold price, with the 7.4% increase in operating expenses largely offset by lower depletion and depreciation. Mine operating income for the first nine months of 2016 was a record $67.7 million, an increase of 31% over 2015, mainly due to increased ounces sold in a significantly higher gold price environment.
Net income for the third quarter of 2016 was $7.1 million or $0.04 per share (basic), compared to a net loss of $10.3 million or $0.08 loss per share in Q3 2015. The prior year quarterly result was impacted by transaction costs of $15.1 million associated with the amalgamation of Newmarket Gold and Crocodile Gold, which accounted for a per share loss of $0.11 during Q3 2015. Per share amounts in the most recent quarter reflect higher weighted average number of shares outstanding (basic), as a result of the conversion and redemption of Debentures and the exercise of warrants during the first quarter of 2016. Net income for the first nine months of 2016 was $30.3 million or $0.18 per share, an increase of over 73% compared to net income of $17.5 million, or $0.14 per share, during the same period in 2015, which was impacted by the aforementioned transaction costs.
Net income for the third quarter of 2016 includes $3.3 million of exploration and evaluation expenditures, bringing year-to-date expenditures to $10.7 million, tracking to the upper end of the Company’s guidance of $10.0 - $15.0 million. Net income for the nine months ended September 30, 2016, was also impacted by share based compensation of $4.3 million, largely due to the vesting of three tranches of the Company’s performance share units, whose share-performance vesting terms were triggered as a result of the significant increase in the Company’s share price on the TSX during the first half of the year.
The current quarter net income was also impacted by a higher total tax expense relating mainly to the exceptional performance at Fosterville in a strong Australian gold price environment, accounting for a loss of $0.05 per basic share. The Company recognized a deferred tax expense of $7.5 million during the third quarter, totaling $12.7 million on a year-to-date basis, mainly reflecting the estimated use of non-capital losses relating to its Victorian operations, particularly Fosterville. Based on expected performance for the remaining part of 2016 and the continued strong Australian dollar gold price, the Company’s Victorian operations are expected to be cash taxable by the end of the year, and as a result the Company has booked a current income tax expense of $0.6 million during the third quarter.
Cash Flow
Newmarket Gold generated operating cash flow of $25.4 million in Q3 2016, or $0.14 per share (basic), a significant increase over the same period of 2015, due to a 20% higher average realized gold price. Operating cash flow in the third quarter is down from $31.0 million in Q2 2016, due to 13% less gold ounces sold in the most recent quarter. On a year to date basis, the Company has generated $74.7 million in cash flow from operations in 2016 compared to $65.9 million in 2015. Cash flow from operations in 2016 also reflects $10.7 million in exploration and evaluation spending compared to $7.2 million for the first nine months of 2015, as the Company continues to invest in growth programs to drive near-term resource growth.
Newmarket invested $11.2 million in mine development during the third quarter of 2016, which includes underground development and resource definition. Development was focused at Fosterville, which accounted for 74% of the total expenditure in the third quarter. After comparatively low mine development expenditures in the first two quarters of 2016, Cosmo incurred $2.3 million during the third quarter of 2016. Property, plant and equipment expenditure in the quarter was $2.3 million and $6.8 million for the first nine months of 2016, down for both comparative periods in 2015, however noting $4.3 million in upgrades to the Fosterville truck fleet to improve productivity were financed through capital lease obligations.
The Company achieved consolidated all-in sustaining costs per ounce sold of $1,076 during the third quarter of 2016, with higher cash costs per ounce at Cosmo and Stawell being offset by continued strong performance from Fosterville, which achieved all-in sustaining costs of $765 per ounce sold. YTD consolidated AISC per ounce sold of $971.
Financial Position
At September 30, 2016, the Company had a cash balance of $82.5 million, a significant increase from $36.5 million as at December 31, 2015 representing real cash flow generation of $12.7 million during Q3 2016 and $46.0 million during the first nine months of 2016. Newmarket Gold’s working capital position at the end of Q3 2016 was $64.4 million, a significant increase from $22.3 million at December 31, 2015, reflecting positive net cash flow from mine operations, the receipt of proceeds on the exercise of share purchase warrants and stock options, and the reduction of current debt relating to the Debentures. With the full conversion and redemption of the Debentures, the Company is essentially debt-free with only $5.9 million in capital lease obligations and other loans.
Third Quarter 2016 Financial Earnings Conference Call Details
In connection with our third quarter 2016 financial results, Douglas Forster, President and Chief Executive Officer, Darren Hall, Chief Operating Officer and Robert Dufour, Chief Financial Officer, will host a conference call to discuss the results on Thursday, November 3, 2016, at 11:00 a.m. (EDT).
Participants may listen to the call by dialing toll free 1 (877) 648-7976 at approximately 10:50 a.m. (EDT) and ask to join the Newmarket Gold conference call. International or local callers should dial 1 (617) 826-1698 at approximately 10:50 a.m. (EDT) and ask to join the Newmarket Gold conference call.
The call will be webcast live at http://edge.media-server.com/m/p/dwwuctx9 and at www.newmarketgoldinc.com in the Events and Webcast section under the Investor Relations tab.
The live audio webcast will be archived and made available for replay at www.newmarketgoldinc.com.
Presentation slides which accompany the conference call will be made available in the Investors section of the Newmarket Gold website, under Presentations, prior to the conference call.
Qualified Person
Simon Hitchman, FAusIMM (CP), MAIG, Principal Geologist, Newmarket Gold, is a “qualified person” as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this news release.
ON BEHALF OF THE BOARD
“Douglas Forster”
Douglas Forster, M.Sc., P.Geo., President & Chief Executive Officer
About Newmarket Gold Inc.
Newmarket Gold is a Canadian listed gold producer with three 100% owned underground operating mines in Australia. The flagship operation, Fosterville Gold Mine, and the Stawell Gold Mine are located in the state of Victoria, and the Cosmo Gold Mine is located in the Northern Territory. In addition, Newmarket has a pipeline of growth projects within Australia, including The Maud Creek Gold Project in the Northern Territory and the Big Hill Gold Project in the state of Victoria. The Company is based on a strong foundation of quality gold production from its three Australian mines, producing over 220,000 ounces of gold annually. Newmarket Gold is dedicated to the development of its resources, targeted exploration, and prudent cost management practices, while continuing to generate free cash flow and maintaining a large resource base with reserve upside. Newmarket strives to enhance shareholder value through a disciplined approach to growth focused on organic exploration success on near mine targets and accretive acquisition opportunities in stable mining jurisdictions.
NON-IFRS MEASURES
Newmarket Gold has included in this MD&A certain non-IFRS performance measures as detailed below. In the gold mining industry, these are common performance measures but do not have any standardized meaning. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company’s performance and ability to generate cash flow. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.
Operating Cash Costs per Ounce of Gold - Newmarket Gold calculates operating cash costs per ounce by deducting silver sales revenue as a by-product from operating expenses per the consolidated statement of operations, then dividing by the gold ounces sold during the applicable period. Operating expenses include mine site operating costs such as mining, processing and administration as well as royalties, however excludes depletion and depreciation, share-based payments and rehabilitation costs.
All-In Sustaining Costs per Ounce of Gold - Newmarket Gold has adopted an all-in sustaining cost performance measure that reflects all of the expenditures that are required to produce an ounce of gold from current operations. While there is no standardized meaning of the measure across the industry, the Company’s definition conforms to the all-in sustaining cost definition as set out by the World Gold Council in its guidance dated June 27, 2013. The World Gold Council is a non-regulatory, non-profit organization established in 1987 whose members include global senior mining companies. The Company believes that this measure will be useful to external users in assessing operating performance and the ability to generate free cash flow from current operations.
The Company defines all-in sustaining costs as the sum of operating cash costs (per above), sustaining capital (capital required to maintain current operations at existing levels), capital lease repayments, corporate general and administrative expenses, mine exploration within the known resource, and rehabilitation accretion and amortization related to current operations. All-in sustaining costs excludes capital expenditures for significant improvements at existing operations deemed to be expansionary in nature, exploration and evaluation related to growth projects, rehabilitation accretion and amortization not related to current operations, financing costs, debt repayments, share-based compensation not related to operations, and taxes.
Cautionary Note Regarding Forward Looking Information
Certain information set forth in this news release contains “forward-looking statements”, and “forward-looking information under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include the Company’s expectations about its business and operations, and are based on the Company’s current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “will”, “expects”, “anticipates”, “believes”, “projects”, “plans”, and similar expressions. These statements are not guarantees of future performance or outcomes and undue reliance should not be placed on them. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are included in this press release or incorporated by reference herein, except in accordance with applicable securities laws.
Ryan King
Vice President, Investor Relations
Newmarket Gold, Inc.
778.372.5611
rking@newmarketgoldinc.com
www.newmarketgoldinc.com
Wow that was lucky timing NMKTF+7% Today! I bot more Friday, perfect timing. Perfect timing is luck not skill, but will take it.
if you go to their website am sure will be there. I have bot back in. It dropped too much
i do not like the deal, but at least nmktf is at 1 year highs, i will ease out. liked nmktf standalone
Where do you get the "they are still money losers"? Have you even looked at the financials?
what news, the gold is still in the ground and they are not in the production stage..they are still money losers, not money makers.
3.64! Ask3.77!!!,MakeThat3.73 12% up
again the market was slow to realize how huge the news was on high grade and high width drill results they reported, now it is sinking in.
Went up even more as wrote this
Now the ask is 3.83!!
Broke 3.50 today, market is figuring out just how big the news is now.
NMKTF seems too high for a non-producer...I think it will eventually sell for less, remember gold is down in the last month by about 27 dollars..I'll keep an eye on this one
NMKTF seems too high for a non-producer...I think it will eventually sell for less, remember gold is down in the last month by about 27 dollars..I'll keep an eye on this one
Yep it is going higher now 3.34, PR was not fully appreciated.
yeah, the results seem to be good, but anybody can drill but can they mine the ore at a profit..that is why the general market is not going crazy over the results..this can go on for many years and no profit will come of it unless they can do the job.
New Fantastic Drill Results for NMKTF today
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/20/16 -- Newmarket Gold(NMKTF) ("Newmarket" or the "Company") (OTCQX:NMKTF) is pleased to announce further positive results from four surfaced-based drill holes (4,326 meters (m)) from the Company's growth exploration programs targeting the Lower Phoenix gold system at Fosterville Gold Mine, State of Victoria, Australia. The Company is also pleased to report a further 96 underground, near mine delineation drill holes (22,799m), which continue to return significant intercepts containing high-grade visible gold mineralization. Underground drilling continues to focus on further defining near mine gold targets on the Phoenix, Lower Phoenix, Lower Phoenix Footwall (LPFW), East Dipping, Kestrel and Eagle Faults. Recent drill results continue to support the potential to expand Fosterville's Mineral Resources and Reserves and confirm continuity of mineralization up-plunge (north) and down plunge (south) on the Lower Phoenix gold system.
Highlights and Key Drill Intercepts from Underground Near Mine Drilling at Fosterville Gold Mine:
During definition drilling, Newmarket discovered a new west dipping lode within the Lower Phoenix Footwall structure intersecting significant high-grade gold mineralization including 194 g/t Au(1)over 14.3m (ETW 3.07m) in hole UDH1643 (Including 1,134 g/t Au(1)over 2.3m [ETW 0.5m]), 75.73 g/t Au(1)over 23.3m (ETW 5.41m) in hole UDH1648 (Including 1,058 g/t Au(1)over 1.35m [ETW 0.15m]) and 19.97 g/t Au(1)over 8.15m (ETW 7.7m) in hole UDH1729.
Eagle Fault System underground definition drilling continues to return high-grade mineralization containing visible gold. The high-grade Eagle Fault System has now been defined over a strike length of 700m and vertical extent of 330m. Key drill intercepts include 283 g/t Au(1) over 3.0m (ETW 2.8m) in hole UDH1584 (Including 526 g/t Au(1)over 0.55 m [ETW 0.4m] and 665 g/t Au(1)over 0.8m [ETW 0.7m]), 155g/t Au(1)over 2.2m (ETW 1.93m) in hole UDH1590 (Including 1,050 g/t Au(1) over 0.3 m [ETW 0.2m]) and 101 g/t Au(1)over 1.45m (ETW 1.1m) in hole UDH1815.
Drilling of the East Dipping Faults continue to intersect significant high-grade gold mineralization including 16.52 g/t Au over 5.1m (ETW 4.03m) in hole UDH1581 and 7.02 g/t Au over 4.8m (ETW 4.13m) in hole UDH1691.
Phoenix Fault drill results returned high-grade intercepts including 6.43 g/t Au over 9.15m (ETW 8.38m) in hole UDH1782 and 7.8 g/t Au over 5.3m (ETW 4.63m) in hole UDH1640.
Delineation drilling into the Kestrel Structure has returned strong results including 4.67 g/t Au over 14.3m (ETW 10.32m) in hole UDH1696 and 5.3 g/t Au over 12.3m (ETW 8.88m) in hole UDH1689.
Highlights and Key Drill Intercepts from Surface Based Growth Drilling at Fosterville Gold Mine:
Surface based drill programs on the Lower Phoenix South gold system (6200mN) have returned significant gold mineralization of 13.36 g/t Au over 3.85m (ETW 3.8m) in hole SPD614E (Including 27.33 g/t Au over 1.55m [ETW 1.5m]) located approximately 500m down plunge of Lower Phoenix Mineral Reserves.
Surface based diamond drilling on the Lower Phoenix North system (8050mN) targeted Lower Phoenix structures approximately 350m north of Lower Phoenix Mineral Reserves and returned intercepts of 4.7 g/t Au over 6.95m (ETW 6.2m) in hole SPD618 (Including 5.93 g/t Au over 2.3m [ETW 2.15m]) and 3.2 g/t Au over 4.55m (ETW 4.55m) in hole SPD618A.
(1) Visible gold present in drill intercept, ETW - Estimated True Width, All drill results are presented in Table 1
Mr. Douglas Forster, President and Chief Executive Officer, Newmarket Gold(NMKTF) commented: "We are very pleased to report continued positive results from our surface-based growth drilling and underground delineation drilling programs on the Lower Phoenix gold system at our flagship Fosterville Gold Mine. We continue to invest in Fosterville with a total of 72,498m of growth and definition drilling completed to date in 2016 utilizing 9 drill rigs. This drilling continues to advance our knowledge of the resource potential of the high-grade visible gold-bearing Lower Phoenix structures with new mineralized zones still being discovered, including a west dipping lode in the Lower Phoenix Footwall which intersected 194 g/t Au over 14.3 m (ETW 3.07 m). Surface-based drilling programs also continue to confirm the resource expansion potential of the Lower Phoenix gold system with an intercept of 13.36 g/t Au over 3.85 m (ETW 3.8 m) located approximately 500 meters down-plunge from Lower Phoenix Mineral Reserves. Currently, four underground drill rigs are operating on resource definition programs on the Phoenix and Lower Phoenix gold systems and continue to intersect high-grade visible gold mineralization outside of known Measured and Indicated Mineral Resources. Exploration success since the start of the year on the Eagle and East Dipping faults support our view to expand the Phoenix and Lower Phoenix near mine Measured and Indicated Mineral Resource of 673,000 ounces grading 8.33 g/t Au (as of December 31, 2015) through continued targeting of the down plunge extension of these high-grade structures."
Summaries of 2016 Underground Exploration Programs at Fosterville Gold Mine
Phoenix / Lower Phoenix Gold System Underground Resource Definition Drilling Program
Since the May 9, 2016 Newmarket News Release, drilling from four diamond drill rigs has continued to focus on resource definition and understanding of multiple gold targets including the Phoenix, Lower Phoenix, Lower Phoenix Footwall (LPFW), East Dipping, Kestrel and Eagle Faults. Reported drill results are outside of the December 31, 2015 Measured and Indicated Mineral Resources and include results from 96 holes (22,799m). Mining production continues on the upper-plunge areas of these targeted structures including the high-grade Eagle Fault and East Dipping Faults which have largely contributed to the record H1 2016 gold production of 70,383 ounces and record gold mill grade of 7.42 g/t at Fosterville.
All drill assay intercepts are provided in Table 1 and drill collars in Table 2.
Eagle Fault and East Dipping Faults
The high-grade Eagle Fault system has now been defined over a strike length of 700m and vertical extent of 330m. Recent drilling continues to return significant high-grade gold intercepts and supports the view that the Eagle Fault system remains open for expansion down-plunge. Recent drill results into the Eagle Fault below the 4150mRL include 283 g/t Au(1)over 3.0m (ETW 2.8m) in hole UDH1584 (Including 526 g/t Au(1)over 0.55 m [ETW 0.4m] and 665 g/t Au(1)over 0.8m [ETW 0.7m]), 155g/t Au(1)over 2.2m (ETW 1.9m) in hole UDH1590 (Including 1,050 g/t Au(1)over 0.3m [ETW 0.2m]) and 101 g/t Au(1)over 1.45m (ETW 1.1m) in hole UDH1815 (Figure 1). These results continue to confirm the continuity and high-grade tenor of the Eagle Fault down plunge and clearly demonstrate Mineral Reserve growth potential on this structure. Recent definition drilling into the east dipping Eagle Fault structure from the Central Decline has also defined a series of east dipping splay faults. These Eagle Splay structures also host significant gold mineralization returning intercepts of 14.02 g/t Au over 2.3m (ETW 2.19m) and 18.72 g/t Au over 2.3m (ETW 2.28m) in hole UDH1737 and 26.45 g/t Au over 1.6m (ETW 1.5m) in hole UDH1482 (Figure 1). The Eagle zone remains untested and open at depth below the 4025mRL and south of 6450mN and drilling is planned to target beyond this extent during the remainder of 2016.
In addition, 87 drill intercepts between the 6350mN and 7150mN have further defined East Dipping mineralized faults (Figure 2). The East Dipping Faults proximal to the Lower Phoenix Fault continue to return significant high-grade intercepts including 16.52 g/t Au over 5.1m (ETW 4.03m) in hole UDH1581. East dipping mineralized structures further east from the Lower Phoenix and proximal to Kestrel are also beginning to show zones of increased grade, width and continuity which could become amenable to mining with further definition. Hole UDH1691 returned an intercept of 7.02 g/t Au over 4.8m (ETW 4.13m) illustrating the potential of this zone. East Dipping structures remain untested down-plunge and form part of the drill targeting plan for the remainder of 2016.
Lower Phoenix Footwall and Lower Phoenix Structures
A total of nine drill holes intercepted significant gold mineralization associated with Lower Phoenix Footwall Structures. The most significant mineralization contains visible gold and occurs in a newly discovered west dipping lode, where drilling results include 194 g/t Au(1)over 14.3m (ETW 3.07m) in hole UDH1643 (Including 1,134 g/t Au(1)over 2.3m [ETW 0.5]), 75.73 g/t Au(1)over 23.3m (ETW 5.41m) in hole UDH1648 (Including 1,058 g/t Au(1)over 1.35m [ETW 0.15m]) and 19.97 g/t Au(1)over 8.15m (ETW 7.7m) in hole UDH1729. These intercepts are located approximately 40 to 80m vertically below and 70 to 90m laterally across from current Mineral Reserves (Figure 3). The mineralized zone appears to adjoin the high-grade Eagle structure at its lower edge and is untested down-plunge. Continued definition drilling from hangingwall drill platforms for the remainder of 2016 will advance the understanding of size and scale of this attractive resource growth target.
Two drill holes intercepted the lower margin of Lower Phoenix mineralization outside of Measured and Indicated Mineral Resource during the reporting period, returning narrow but moderate to high grade results, including 9.95 g/t Au over 1.15m (ETW 0.9m) in hole UDH1798 (Figure 3). Hangingwall drill platforms will be further advanced towards the south in the fourth quarter of 2016 to facilitate continued targeting of Lower Phoenix extensions.
Phoenix and Kestrel Structures
Thirteen holes targeted the down plunge extensions of the Phoenix Mineral Resource with several holes returning positive results indicating high potential for Mineral Reserve expansion given the proximity to existing developments. The most significant drill intercepts include 7.8 g/t Au over 5.3m (ETW 4.63m) in hole UDH1640 and 6.43 g/t Au over 9.15m (ETW 8.38m) in hole UDH1782 (Figure 4).
Numerous Kestrel drill intercepts were returned over the reporting period (58 in total) as holes primarily targeting Eagle and East Dipping Structures from the Central Decline, passed through this mineralized zone. Significant zones of syncline hinge related stockwork mineralization were encountered on the 4250mRL including 5.3 g/t Au over 12.3m (ETW 8.88m) in hole UDH1696, 4.54 g/t Au over 15.15m (ETW 3.93m) in hole UDH1689 and 3.92 g/t Au over 17m (ETW 6.16m) in hole UDH1691 (Figure 4). These results support previous strong drill results between the 4230mRL and 4270mRL on the Kestrel structure and Newmarket is optimistic that Mineral Reserves can be realized in this zone. Kestrel remains a high quality drill target and future drilling will continue to explore Mineral Resource and Mineral Reserve extension opportunities down plunge.
Summaries of 2016 Surface Based Growth Exploration Programs
Since the May 9, 2016 Newmarket News Release, the Company has advanced its surface-based exploration programs to test extensions of the Lower Phoenix gold system.
Surface based growth exploration programs at Fosterville are now completed on the Lower Phoenix North 8050mN section and all drill results have now been returned from the Lower Phoenix South 6200mN and Lower Phoenix North 7850mN drill programs. The results of four holes from 4,326m of surface based drilling are provided in Table 1 and illustrated in Figure 5.
Surface based drilling into the Lower Phoenix North has advanced northwards with the commencement of the Lower Phoenix 8300mN program on the back of drill success of the Lower Phoenix 7850mN, 7950mN and 8050mN sections. In addition, underground based growth programs have commenced from the Harrier Exploration Drill Drive 5450mN section targeting Lower Phoenix extensions approximately 1,000m down plunge from defined Mineral Resources (Figure 5).
All drill assay intercepts are provided in Table 1 and drill collars in Table 2.
Lower Phoenix South (6200mN) Surface Drill Program
The Lower Phoenix South 6200mN drilling program, which included one parent hole and four daughter holes, was completed in April 2016. Previously reported results from this drilling program include 12.75 g/t Au over 5.9m (ETW 4.5m) in hole SPD614C and 6.16 g/t Au over 2.05m (ETW 1.9m) in hole SPD614A (Previously reported in Newmarket Gold Press Release dated February 29, 2016) and 27.7 g/t Au over 0.3m (ETW 0.25m) and 1.5 g/t Au over 5.9m (ETW 5.6m) in hole SPD614D (Previously Reported in Newmarket Gold Press Release dated May 09, 2016). Results from the final hole of this program have now been returned. Intercepts contain significant gold mineralization including 13.36g/t Au over 3.85m (ETW 3.8)in hole SPD614E (Including 27.33 g/t Au over 1.55m [ETW 1.5m]). This intercept on the 6130mN, 3830mRL is positioned approximately 40m down dip of the previously reported result of 12.75g/t Au over 5.9m in hole SPD614C. Current interpretations indicate that this drilling program has identified a strongly mineralized west dipping structure footwall to Lower Phoenix. This mineralization may potentially correlate with recently defined Lower Phoenix Footwall mineralization approximately 450m up plunge on the 6500mN. Newmarket intends to drill test this newly identified target from advancing hangingwall underground drill platforms for the remainder of 2016 and into 2017.
Lower Phoenix North 8050mN and 7850mN Surface Drill Programs
A surface exploration drill program on the Lower Phoenix North 8050mN gold system was undertaken following successful drill results returned from the Lower Phoenix North 7950mN and 7850mN surface drill programs previously completed. The Lower Phoenix North 8050mN program targets Lower Phoenix mineralization approximately 350 m north of Mineral Reserves and consisted of one parent hole and three daughter holes. New drill results returned from the Lower Phoenix North (8050mN) program include 4.7 g/t Au over 6.95m (ETW 6.2m) in hole SPD618 (Including 5.93 g/t Au over 2.3m [ETW 2.15m]) and 3.2 g/t Au over 4.55m (ETW 4.55m) in hole SPD618A. Newmarket Gold(NMKTF) is currently compiling and interpreting results of this program and is optimistic that Mineral Resources could potentially be extended beyond the current extent of 7750mN to the 8050mN. Newmarket has commenced an additional surface based drill program on the Lower Phoenix North 8300mN with the intent to further expand the Lower Phoenix North Mineral Resource, which remains open to the north.
The Lower Phoenix North 7850mN drilling program, which included one parent hole and three daughter holes, was completed in April 2016. Previously reported results from this drilling program include 12.5 g/t Au over 3.35m (ETW 2.4m) in hole SPD615C and 9.28 g/t Au over 3.35m (ETW 3.1m) in hole SPD615 (Previously reported in Newmarket Gold Press Release dated February 29, 2016) and 9.16 g/t Au over 12.15m (ETW 11.8m)in hole SPD616B and 7.26 g/t Au over 14.25m (ETW 13.9m) in hole SPD614A (Previously Reported in Newmarket Gold Press Release dated May 09, 2016). Results from the final hole of this program have now been returned and include 2.47 g/t Au over 5.2m (ETW 4.95m) in hole SPD616C (Figure 5).
To view a PDF of the tables and figures as referenced in this press release please go to the following link:
http://media3.marketwire.com/docs/newmarket_gold_sep20_tables1-2.pdf
http://media3.marketwire.com/docs/newmarket_gold_sep20_figures1-5.pdf
yes, good drilling results propelling it
It looking great today!
Agree, I have big profit on NMKTF, even though ignored name, Sprott is in it too.
Oh, I see. Cool!
I posted quite a bit over on the NMI board (TSX version) - swing trading NMKTF
No one post here, but I know this is a great miner, great management team.
positive results from 13,834 metres (m) of diamond drilling, comprising 45 drill holes at the Cosmo Gold Mine ("Cosmo") located in the Northern Territory, Australia. These results are part of Newmarket's 2016 growth exploration program and include significant drill intercepts for the Sliver Lode and the newly discovered Redbelly and Taipan Lodes, all of which are adjacent to existing underground mine development. The results for the Sliver Lode strongly support the potential to extend Mineral Resources down-plunge from existing Mineral Reserves. Currently, three underground drill rigs are in operation at Cosmo to advance exploration programs.
Highlights and Key Drill Intercepts at Cosmo Gold Mine
-- Continued drilling of the Sliver Lode has returned high-grade intercepts
of 8.76 g/t Au over 7.55m (Estimated True Width "ETW" 6.8m) in hole
CE64062 and 3.61 g/t Au over 14.4m (ETW 12.4m) in hole CE64073. These
and other results strongly support the potential to extend SliverMineral Resources down-plunge. -- Discovery of the Redbelly Lode has returned significant drill intercepts
including 4.29 g/t Au over 11.8m (ETW 10.0m) in hole CE64064 and 5.18
g/t Au over 8.75m (ETW 6.8m) in hole CE64070. The new Redbelly gold
discovery is located only 25m from existing underground infrastructure
below the F1 Fault.
-- Discovery of the Taipan Lode has returned high-grade gold intercepts
including 6.23 g/t Au(1) over 21.45m (ETW 9.0m) in hole CE64083
(including 11.34 g/t Au(1) over 10.15 m (ETW 4.3m), 12.07 g/t Au over
5.2 m (ETW 2.9m) in hole CE64087 (including 101 g/t Au over 0.4 m (ETW
0.2m)), 5.86 g/t Au over 13.15m (ETW 5.9m) in hole CE64078, 10.31 g/t Au
over 6.0m (ETW 2.9m) in hole CE64079 and 8.92 g/t Au over 5.8m (ETW
3.3m) in hole CE64086. The Taipan discovery is in close proximity to
underground development below the F1 Fault.
-- Completion of 200m of underground development (640 Western Drill Drive)in April 2016 to provide platforms for continued underground exploration
drilling.
(1) Visible gold present in drill intercept. All drill results are presented in Table 1
Douglas Forster, President & Chief Executive Officer of Newmarket Gold(NMKTF) stated, "Successful exploration programs at the Cosmo Gold Mine have focused on outlining additional mill feed in close proximity to current mine development and infrastructure. Continued positive results reaffirm our emphasis on internal growth opportunities, and
Newmarket Gold Inc.
Newmarket Gold Reports Drill Results from Underground Delineation Drilling on the Harrier South Gold System at the Fosterville Gold Mine
VANCOUVER, BRITISH COLUMBIA—(Marketwired - June 27, 2016) - Newmarket Gold (“Newmarket” or the “Company”) (TSX:NMI)(OTCQX:NMKTF) is pleased to report positive drill results from 57 underground holes, totaling 14,417 meters (m) from the Harrier South gold system at the Fosterville Gold Mine. Underground resource definition drilling, targeting down plunge extensions to the Harrier and Osprey gold system commenced in January, 2016. Drilling was targeted to further define previously identified mineralized trends and to assess the potential of Harrier Reserve expansion. These mineralized extensions lie directly down plunge from the existing Harrier mining area and drilling results suggest there is a strong potential for significant conversion of Mineral Reserves from this area. The Harrier South drilling target area is located approximately 1.2km south of the Phoenix and Lower Phoenix Mineral Reserves directly down plunge from the active Harrier mining area (Figures 1 & 2).
Highlights and Key Drill Intercepts at Harrier South Gold System, Fosterville Gold Mine
Drilling in the Harrier South system continues to confirm near-mine gold mineralization with high-grade gold intercepts and indicates potential to extend Mineral Resources and Mineral Reserves south (down plunge).
New drilling results at the Harrier South gold system indicate an increasing grade profile with depth below the 4450mRL which is similar to the Lower Phoenix gold grade increase at a similar depth.
Drilling on the Harrier Base Structure has returned high-grade mineralization containing the first recorded occurrence of visible gold in the Harrier system. Key intercepts include 22.13g/t Au(1) over 3.4m (Estimated True Width “ETW” 3.33m) in hole UDH1559 and 10.3g/t Au over 3.35m (ETW 3.27m) in hole UDH1596.
Drilling on the Harrier Hanging Wall and Harrier Structures has returned high grade results including 13.46g/t Au over 3.35m (ETW 2.25m) in hole UDH1606, 10.78g/t Au over 4.65m (ETW 4.57m) in hole UDH1567 and 6.82g/t Au over 5.65m (ETW 5.37m) in hole UDH1577.
Drilling on the Osprey returned significant results including 11.99g/t Au over 3.4m (ETW 3.39m) in hole UDH1575 and 7.87g/t Au over 4.4m (ETW 4.27m) in hole UDH1663.
Significant intercepts have been returned from intercepts on the Osprey Hanging Wall Structure with 14.25g/t Au over 3.6m (ETW 3.59m) in hole UDH1593 and on the Osprey Link Structure with 16.6g/t Au over 3.05m (ETW 3.05m) in hole UDH1619.
The potential for East Dipping mineralization has also been identified through recent drilling with shallow east dipping structures interpreted over an approximate 300m strike length. The grade and continuity of this east dipping mineralized structure needs to be verified with further drilling.
Based on the drill results returned from the initial phase of drilling, the Company plans to continue drilling the Harrier South gold system for the remainder of 2016 targeting the expansion of the gold system down plunge of Indicated Mineral Resources to facilitate Mineral Reserve evaluation.
Visible gold present in drill intercept, ETW - Estimated True Width, All drill results are presented in Table 1
Mr. Douglas Forster, President and Chief Executive Officer, Newmarket Gold commented: “We are very pleased to report results from our underground delineation drilling program on the Harrier South gold system at our flagship Fosterville Gold Mine. In addition to our successful advancement of the on-going Phoenix and Lower Phoenix gold system delineation and expansion drilling projects, we have been able to progressively advance another high potential resource target at Fosterville. Drilling has now defined an approximate 400m strike length across multiple mineralized lenses in the Harrier South gold system down plunge of the current mining front. Based on results returned to date, we are optimistic that Mineral Reserve conversion can be realized through this drilling. Importantly, the drilling has also reaffirmed an increasing grade profile with depth in the Harrier gold system and we intend to continue drilling with two drill rigs for the remainder of 2016 to further explore Mineral Reserve expansion opportunities.”
Harrier South Delineation Programs
Since January 2016, the Company has advanced its Harrier South underground delineation programs testing the southern down plunge extensions of the Harrier / Osprey mineralized system, completing 57 holes for 14,417m. The Harrier South drilling target area is located directly down plunge from the active Harrier mining area and Mineral Reserves, approximately 1.2km south of the Phoenix and Lower Phoenix Mineral Reserves (Figures 1 & 2). Since the commencement of ore production in March 2011, a total of 997Kt at 4.05 g/t Au for 130,000oz has been mined from Harrier to December 31, 2015. Ore sourced from Harrier continues to form part of the 2016 mine plan from a December 31, 2015 Mineral Reserve base of 47Kt at 3.45 g/t Au for 5,000oz.
Progressive drilling and geological modelling of the Harrier South system has confirmed the presence of 10 mineralized zones (Osprey, Osprey Link, Osprey Splays, Osprey Hanging Wall, Osprey Base, Harrier, Harrier Splay, Harrier Base, Harrier Hanging Wall and Harrier East Dipping) below the 4500mRL, which host significant gold mineralization (Figures 3 & 4). Mineralization has developed along a network of reverse thrust faults that transect east dipping shale and sandstone beds on the eastern limb of an anticline axis which is positioned footwall to the Fosterville Fault. Harrier mineralization primarily consists of disseminated arsenopyrite and pyrite, although recently minor amounts of stibnite and an occurrence of visible gold has been observed.
Osprey Structures
Recent definition drilling into the Osprey mineralized structures has targeted Indicated and Inferred Mineral Resources down to the 4450mRL closing drill spacing into approximately 25m x 25m, with the aim to increase resource confidence to enable robust reserve evaluation. Drill results reaffirm continuity of geological structures and have returned intercepts of variable width and grade. The most significant intercepts include 11.99g/t Au over 3.4m (ETW 3.39m) in hole UDH1575 and 7.87g/t Au over 4.4m (ETW 4.27m) in hole UDH1663 on the Osprey structure, 14.25g/t Au over 3.6m (ETW 3.59m) in hole UDH1593 on the Osprey Hanging Wall structure and 16.6g/t Au over 3.05m (ETW 3.05m) in hole UDH1619 on the Osprey Link structure (Figure 5 & 6).
A number of lower grade and narrower width drill intercepts have demonstrated the variable nature of mineralization along the Osprey structures however the width and strength of localized high-grade mineralization provides encouragement for reserve conversion in this zone.
Harrier Structures
Significant gold mineralization associated with the Harrier Base and Harrier Hanging Wall structures has been realized through increased definition drilling. Drill spacing on these structures has been closed into approximately 25m x 25m on these structures above 4320mRL and north of 4920mN.
Drill results returned on the Harrier Base structure include 22.13g/t Au(1) over 3.4m (ETW 3.33m) in hole UDH1559 which includes an occurrence of visible gold and 10.3g/t Au over 3.35m (ETW 3.27m) in hole UDH1596 (Figure 7). The Harrier Base structure exhibits the greatest offset of all of the mineralized reverse faults in the Harrier South system and associated mineralization. In some locations these mineralized structures are narrow in width but they have demonstrated high grades and good continuity. To date, drill results in this structure indicate an increasing grade trend with depth down plunge.
In support of the Harrier Base mineralization, strong results have also been returned on the Harrier Hanging Wall structure which includes significant intercepts of 13.46g/t Au over 3.35m (ETW 2.25m) in hole UDH1606, 10.78g/t Au over 4.65m (ETW 4.57m) in hole UDH1567 and 7.0g/t Au over 4.4m (ETW4.39m) in hole UDH1561 bolstering grades in this mineralized zone, particularly below the 4400mRL.
In addition, significant intercepts of gold mineralization have been realized on the Harrier structure including 6.82g/t Au over 5.65m (ETW 5.37m) in hole UDH1577 (Figure 8). The potential for East Dipping mineralization has also been identified through recent drilling with shallow east dipping structures interpreted over an approximate 300m strike length. The grade and continuity of this east dipping mineralized structure needs to be verified with further drilling.
Newmarket Gold is encouraged by drill results returned to date which indicate increasing mineralization grade profiles with depth and delineation drill programs will continue on the Harrier South gold system utilizing two diamond drill rigs for the remainder of 2016. Continued successful drilling could result in significant conversion of Mineral Reserves from this area by the end of 2016 and provide increased flexibility for the Fosterville operation, with the potential to maintain independent mining fronts from the Phoenix/Lower Phoenix gold system.
To view a PDF of the tables and figures as referenced in this press release please go to the following links:
http://media3.marketwire.com/docs/Table1and2.pdf
http://media3.marketwire.com/docs/Figures1to8.pdf
Qualified Person
Mark Edwards, MAusIMM (CP), MAIG, General Manager, Exploration, Newmarket Gold, is a “qualified person” as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this News Release.
QAQC information is provided at the bottom of Table 1.
ON BEHALF OF THE BOARD
Douglas Forster, M.Sc., P.Geo., President & Chief Executive Officer
About Newmarket Gold Inc.
Newmarket Gold is a Canadian-listed gold mining and exploration company with three 100% owned operating mines across Australia. The Company is focused on creating substantial shareholder value by maintaining a strong foundation of quality gold production, over 200,000 ounces annually, generating free cash flow and maintaining a large resource base as it executes a clearly defined gold asset consolidation strategy. The Company is focused on sustainable operating performance, a disciplined approach to growth, and building gold reserves and resources while maintaining the high standards that the Newmarket Gold core values represent.
Cautionary Note Regarding Forward Looking Information
Certain information set forth in this news release contains “forward-looking statements”, and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include the Company’s expectations about its business and operations, and are based on the Company’s current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “will”, “expects”, “anticipates”, “believes”, “projects”, “plans”, and similar expressions. These statements are not guarantees of future performance or outcomes and undue reliance should not be placed on them. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are included in this News Release or incorporated by reference herein, except in accordance with applicable securities laws.
Newmarket Gold, Inc.
Ryan King
Vice President, Investor Relations
604.559.8040
rking@newmarketgoldinc.com
www.newmarketgoldinc.com
Click here to view all news releases on our website.
Newmarket Gold Inc.
VANCOUVER HEADQUARTER OFFICE
1680 - 200 Burrard Street, Vancouver, BC, V6C 3L6 Tel (604) 559-8040
TORONTO OFFICE
100 King Street West, Suite 5600, Toronto, ON M5X 1C9 Tel (416) 847-1847
$NMKTF recent news/filings
bullish
Canadian gold company with mines in Australia
http://www.newmarketgoldinc.com/
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Company name: Newmarket Gold Inc.
Company website: http://www.newmarketgoldinc.com
Incorporated In: Canada
Business Description: Newmarket Gold is a Canadian-listed gold mining company with three 100% owned operating mines across Australia. The Company is focused on creating substantial shareholder value by maintaining strong foundation of quality gold production, over 200,000 ounces annually, generating free cash flow and maintaining a large resource base as it executes a clearly defined gold asset consolidation strategy. The Company is focused on sustainable operating performance, a disciplined approach to growth, and building gold reserves and resources while maintaining the high standards that thr Newmarket Gold cor values represent.Less >>
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Market Value: $128,623,709 a/o Sep 17, 2015
Shares Outstanding: 134,262,744 a/o Aug 04, 2015
Float: 67,131,372 a/o Aug 04, 2015
Authorized Shares: Unlimited a/o Jun 30, 2015
Par Value: Not Available
$NMKTF extra dd links
Company name: Newmarket Gold Inc.
Company website: http://www.newmarketgoldinc.com
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Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Newmarket+Gold+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Newmarket+Gold+Inc.&x=0&y=0
WHOIS (domaintools.com): http://whois.domaintools.com/http://www.newmarketgoldinc.com
Alexa (alexa.com): http://www.alexa.com/siteinfo/http://www.newmarketgoldinc.com#
Corporate website internet archive (archive.org): http://web.archive.org/web/*/http://www.newmarketgoldinc.com
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/NMKTF/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/NMKTF
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/NMKTF/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/NMKTF/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/NMKTF/sec-filings
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/NMKTF/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/NMKTF/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/NMKTF/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/NMKTF/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=NMKTF&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=NMKTF
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/NMKTF/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=NMKTF+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=NMKTF+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=NMKTF
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=NMKTF
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=NMKTF+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/NMKTF/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=NMKTF+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/NMKTF.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=NMKTF
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/NMKTF/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/NMKTF/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/NMKTF/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/NMKTF/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/NMKTF
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/NMKTF
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/NMKTF:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=NMKTF
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=NMKTF
$NMKTF DD Notes ~ http://www.ddnotesmaker.com/NMKTF
Followers
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5
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Posters
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0
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Posts (Total)
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34
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Created
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09/18/15
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Type
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Free
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