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Beth is absolutely correct (she always has been). There never was an NI 43-101 report drafted, filed or anything else for Medinah or Cerro Dorado. Anybody who says otherwise is either mistaken or lying.
Medinah and Cerro Dorado did have "geological reports" compiled for the properties by Robert Cinitas P.Geo of Howe Chile Limitada in 1999, 2000 and 2001. Additionally, Cerro Dorado and Medinah had a report prepared for the Lobo Solitario and Lipangue Breccia projects in 2006 by Tera Ex Engineering. These were NOT NI 43-101 geological reports. The companies contracted these 3rd party geology firms to explore the properties (not drilling or even sampling, just visual), review historical geological records and data and offer recommendations on how to proceed with exploration (at least in Howe's case).
These reports were never intended to be or categorized by the company as NI 43-101. There is a structure, requirements and protocols and filings necessary for NI 43-101 - the first and primary being that the company has to be a Canadian filer listed on the TSX, which neither were. In one of the shareholder meetings Greg Chapin had mentioned the NI 43-101 being one of the company's goals - which shareholders lapped up being naive to the process, time and expense involved in such an endeavor. Additionally, if either company had an NI 43-101, it would've been pumped endlessly on the website and in PRs. In fact, when the company publicized a resource estimate of how much mineralization was at LDM, I e-mailed them and told them that they were not permitted to publicize resource estimations without either an NI 43-101 (if TSX), Industry Guide 7 (if SEC-filing) or JORC (if Australian) and that the company could get in legal/regulatory trouble by doing so. They stopped doing so after that.
And FYI, the geological reports are still available online for anyone who has the gumption to perform a proper search. And there was nothing diabolical about Kevin Tupper (or Maurizio) removing the reports from the website - they were 20 years old. The websites were updated and got rid of all old updates, PRs and such earlier than 2016.
There is a wide swath of subjects to be outraged by these companies. Is it really necessary to fabricate new ones?
LOL...nice to hear from you Beth. Thank you for the kind message and a pleasant history of spirited debate! Good luck to you as well.
Nice deflection, but I wasn't debating Medinah's current status. You incorrectly contended that "nothing was found that les had done improperly". He absolutely did and that is factually irrefutable.
Medinah will continue as a trading entity in name only as the AUMC shares will be distributed to current MDMN shareholders. MDMN will be an OTC shell with no assets. Once the transaction occurs and current shareholders have their AUMC shares, nobody will care what MDMN does or doesn't do.
Also, in case you missed it...
https://backend.otcmarkets.com/otcapi/company/financial-report/220527/content
I think you're putting too much weight/concern on the Medinah's status in Nevada. In an ideal/active company, yes, they'd want to have a registered agent in order to receive legal notices, et al and to maintain good standing in the state. But MDMN has pretty much "gone void" at this point. Once the share transaction goes through to convert stock into Auryn, then MDMN will be a worthless shell. MDMN shareholders shares will be transferred into Auryn shares. At that point there will be no need to have the company operational in any capacity. So why waste the money?
If for some transactional reason MDMN has to be in good standing in Nevada in order to perform the share swap with Auryn (and I'm not sure this is the case), then it will cost less than $100 to get a new registered agent in Nevada and maybe a couple hundred dollars in fees to revive the company.
The key is that Auryn is the active company going forward. They have a registered agent and are in good standing with the state of Nevada.
https://www.nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=lILu6lCjoe2ohSK5zAAOBg%253d%253d&nt7=0
Going forward, shareholders should be paying attention to Auryn, not Medinah. But if some shareholders wish to spin their wheels harping on Medinah's meaningless status in the state of Nevada, I guess that is their prerogative.
The address was changed in the 2018 Annual Report.
Gary Goodin is from Indianapolis, so I imagine it is an address he is associated with or someone he knows. Recall that when Greg Chapin was the CEO, one of the old addresses for Medinah was Temecula, CA which was Greg Chapin's hometown. Then the address moved to Las Vegas. Not a big deal one way or the other, but the mail has to be sent somewhere where it can be picked up.
Also, American Sierra Gold has the same Indianapolis address.
Two faulty assumptions in your equation:
1) The activity (or lack thereof) in this forum is not necessarily a reliable indicator of interest in the stock. There are other stock forums and social media sites that have more activity than I-Hub. Shareholders go to where there is the most conversation and reliable information regarding their investment. Some pot stocks have active forums on I-Hub, others do not. Plus the I-Hub board recently switched the forum from the PUFXF symbol to the AGRA symbol which would affect traffic.
2) Agra is not a grower yet, so claiming it to be "one of the largest growers in the world" is not accurate. Even after the Delta facility is complete, they can't be classified as one of the largest growers in the world. That will only occur when the company provides production results. Until then, Agra is merely a company that is retro-fitting the 2nd largest greenhouse in Canada.
"§ Greenfield programme: initial exploration work set to begin at three projects in Chile and the US "
Top Hemp Stocks in February: AgraFlora and GW Pharmaceuticals
Hemp stocks have become hot in the cannabis market this year. This is due to President Trump legalizing the use and production of hemp just before Christmas with the 2018 Farm Bill, as well as Canada looking to legalize edibles sometime in late-2019.
So, who were the top hemp stocks in February?
GW Pharmaceuticals Plc (NASDAQ:GWPH) and AgraFlora Organics Intl (CSE:AGRA) (OTC:PUFXF) were the top trading hemp stocks in February. Today, we’ll take a closer look at why that is and what each company’s projected trajectory is moving into March.
AgraFlora Organics Up +27%
AgraFlora Organics saw the most percentage gains out of all the hemp stocks on the market this month. The Vancouver-based cannabis company’s shares didn’t start rising until early this week. The last corporate update AgraFlora released before the spike came February 4th. At that time, the company announced it was moving forward with its hemp-based coffee creamer.
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AGRA began to spike on February 26th, the same time an article was released on Seeking Alpha about why investors should buy AgraFlora, naming it an undervalued stock. It isn’t completely clear if this is the cause for its spike, but it’s the only thing that was released about the company at the time. Yesterday, the hemp stock released a formal corporate update detailing its important milestones for the last four months.
>> SPRWF Stock on the Rise: Supreme Cannabis Could Be Undervalued
According to Yahoo Finance, AGRA is trading at $0.40 a share, up +$0.02 (+5.26%) today. The hemp stock rose +27% in the month of February and has a lot of potential for growth in March due to its late spurt.
GW Pharmaceuticals Brings in $6.7 Million in Q4
GW Pharmaceuticals is a larger company among the hemp stocks listed in this group. The UK-based cannabis pharmaceutical company had a very similar month to AgraFlora. GW’s stock didn’t rise until early this week when it released its Q2 2019 earnings. After the earnings report was released, the hemp stock jumped up nearly +15%.
GW Pharmaceuticals brought in $6.7 million in revenue, compared to the $4.0 million brought in from the quarter ended December 31st, 2017. The cannabis company elaborated in detail on all its operation highlights of the quarter, which must have impressed investors.
According to Yahoo Finance, GWPH is currently trading at $173.50 a share on the NASDAQ, up +$1.52 (+0.88%). While it isn’t seeing significant gains today, this hemp stock was up +17% in February. With its late jump like AGRA, it also has strong potential to keep up the positive momentum moving into March.
https://potstocknews.com/top-hemp-stocks-february-agra-gwph/
Insiders keep buying (albeit in small increments)
https://www.canadianinsider.com/node/7?menu_tickersearch=IVS+%7C+Inventus+Mining
Those are some nice grades on the step outs that help to expand the mineralized zone at 007. Definitely looking forward to the bulk sample program at 007 this Spring.
OrganiGram had stellar Q4 and FY 2018 results, with an extremely bullish outlook for 2019.
"Fiscal 2019 sales will be dominated by adult recreational use revenue and the Company estimates that Q1, 2019 sales will exceed that of the full year for fiscal 2018, despite only a portion of Q1, 2019 including adult recreational use market sales. Further, the Company expects that Q2, 2019 sales will exceed Q1, 2019 sales based on purchase orders received to date."
https://www.ftmig.com/cannabis/organigram-reports-impressive-growth-for-2018-in-advance-of-adult-recreational-sales-results/
Inventus Mining Drills Up To 62 g/t Gold on Surface at 007 Zone
TORONTO, ONTARIO (Nov 22, 2017) - Inventus Mining Corp. (TSX VENTURE: IVS)(“Inventus” or the “Company”) today announces that it has received assay results for the first 28 holes of the winter drill program at the 100% owned Pardo Paleoplacer Gold Project (“Pardo”) near Sudbury, Ontario. A total of 28 definition drill holes and 7 step-out holes at the 007 Zone have been completed and the program is near completion.
Gold-bearing conglomerate layers or “reefs” at Pardo are horizontal and typically 1-3 metres (m) in thickness. Reefs re laterally extensive and occur on or very near surface. Higher gold grades occur concentrated in fluvial channels or “pay streaks”, and valleys in the footwall upon which the conglomerate was deposited.
The objective of the current definition drill program is to provide data to support the next phase of bulk sampling. Completed assay results from drilling at the 007 Zone are as follows:
Drilling Results and Interpretation
The 28 new drill holes at the 007 Zone (see Figure 1) indicate that the average thickness of the mineralized boulder conglomerate is 2.5 metres, and the weighted average gold grade is 3.4 g/t. In comparison the average gold grade in 11 holes drilled at the Trench 1 bulk sample site was 1.3 g/t. Processing of the Trench 1 bulk sample returned an average grade of 4.2 g/t gold, over 200% higher than the grade indicated by drilling in the same area (see results published on January 3, 2018 - http://www.inventusmining.com/s/Inventus_Jan3.pdf).
Inventus expects to see a similar improvement in the gold grade when bulk sampling the 007 Zone. The Company intends to commence a bulk sampling program of up to 50,000 tonnes in the Spring of 2019.
Exploration Target Range
On August 3, 2018, Inventus released a new NI 43-101 Technical Report on the Pardo Project. The report is available for download on the Company’s website (http://www.inventusmining.com/home-1/) and SEDAR (sedar.com). The report assessed the exploration target range for the Pardo Project. The exploration target range was expressed in terms of pessimistic (P10), moderate (P50) and optimistic (P90) cases as shown in the table below.
The potential tonnages and grades are conceptual in nature and are based on surface mapping, drilling and channel sampling results that define the approximate thickness, depth and grade of the mineralized conglomerate unit. There has been insufficient exploration to define a current mineral resource and the Company cautions that there is a risk that further exploration will not result in the delineation of a current mineral resource.
Ore Sorting
Prior bench scale testing demonstrated that sensor sorting and gravity separation were potentially viable methods to upgrade the Pardo mineralized material prior to processing (see results published on April 5, 2017 -
http://www.inventusmining.com/s/IVS-Studies-Update-FINAL.pdf).
Measurements made of the clasts present in the mineralized boulder conglomerate indicate that the matrix, which contains all the gold, represents approximately 25% by volume of the whole rock. Opportunity therefore exists to mechanically remove 75% by volume that would
otherwise be barren waste sent for processing. We intend to follow-up this work as part of the bulk sampling program.
Click here to view Figure 1: inventusmining.com/s/Nov_22_Fig_1.pdf
Drilling almost complete
The final holes extending 007 to the North will be completed soon. Here are a couple of pictures from site. Assays are coming in from earlier drilling and we’re closing in on the first batch for release.
http://www.inventusmining.com/blog/2018/11/15/drilling-almost-complete
Artemis Resources Sampling Identifies Three Large New Gold Targets in West Pilbara
09:56 05 Nov 2018
Geochemical sampling and analysis techniques prove successful in the company’s extensive tenement package.
Targets are within short trucking distance of the Radio Hill processing plant
Artemis Resources Ltd (ASX:ARV) (FRA:ATY) (OTCMKTS:ARTTF) has discovered three new large gold geochemical targets within 30 kilometres of its Radio Hill processing plant in the West Pilbara of WA.
The targets – Patterson’s Hut, Ruth Well North and Pipeline – were identified in the first regional-scale compilation of geochemical data in the Karratha region.
This program also resulted in Artemis identifying new extensions at the existing Silica Hills and Nickol River targets.
Artemis’ executive director Ed Mead said: “Karratha until recently has remained relatively unexplored for its gold potential.
“This area-wide geochemical and rock chip survey indicates substantial gold prospectivity exists within Artemis’ extensive tenement package, all within a short trucking distance of our Radio Hill processing plant.
“The use of ionic geochemical analysis techniques in conjunction with traditional geochemical sampling has helped Artemis identify numerous new targets and projects such as Carlow Castle and Purdy’s Reward.”
Apart from the high-profile conglomerate related gold occurrences at Purdy’s Reward-Comet Well, the West Pilbara has a long history of small-scale gold production predominantly from quartz vein related systems.
Artemis noted the presence of shear zone hosted gold at Nickol River feeding alluvial/eluvial systems in the area and the axial plane quartz-gold-arsenopyrite mineralisation at the Weerianna Gold Project.
After consideration of this information with the multiple other known gold sources within the greenstones, geochemical exploration was initiated in the Carlow Castle area.
Based on the Carlow Castle success, sampling was subsequently expanded.
Broad regional soil geochemistry sampling was undertaken across the consolidated Artemis tenure on 400-metre spaced lines aligned north-south.
Multi-element responses
There were 12,247 samples collected 100 metres apart along these lines and a major multi-element suite of analyses were then conducted.
All the main areas identified in the geochemistry show multi-element responses.
Gold geochemistry responds strongly at Carlow Castle, Nickol River and Silica Hills, along with the new discoveries at Pattersons Hut, Ruth Well North and Pipeline.
At Patterson’s Hut rock chip samples in veins and gossanous chert returned up to 11.4 g/t gold across a 4.5-kilometre-long surface soil anomaly.
Rock chip samples of up to 5.04 g/t gold were returned from Ruth Well North across a 14-kilometre-long surface anomaly.
A soil geochemistry anomaly in association with numerous nuggets in shear zones has been identified across two 1.0-kilometre-long trends at Pipeline.
Targets being prioritised
Some infill sampling has been completed across the regional tenure and assays are pending.
Artemis is ranking and prioritising targets with plans for first pass aircore drilling being developed following receipt of Plan of Work and heritage approvals.
https://www.proactiveinvestors.com.au/companies/news/208453/artemis-resources-sampling-identifies-three-large-new-gold-targets-in-west-pilbara-208453.html
At least insiders are still buying on the open market:
https://www.canadianinsider.com/node/7?menu_tickersearch=IVS+%7C+Inventus+Mining
This stock is in serious need of a change in trend. Hopefully as assays begin coming in that will be the start of it; however, I don't believe drill results will provide much upward influence since the conglomerate gold is nuggety and sporadic in drill results. Inventus must rely on the bulk sampling to better determine grade and economy.
Artemis locks down new Pilbara drill targets
Monday, 29 October 2018 2:50AM
Matt Birney
Artemis Resources is again locked and loaded and ready for another drill campaign in the Pilbara region of WA.
After significant recent successes with the drill bit, Artemis is not resting on its laurels, with its first regional scale geochemical sampling program across its extensive West Pilbara tenements unearthing multiple new high order cobalt drill targets near Karratha.
The comprehensive exploration program generated over 12,000 soil samples and was completed on 400m spaced north-south lines with individual samples at 100m separations on each sampling traverse.
All samples were assayed for a multi-element suite, with a particular focus on initially defining broad trends in the cobalt mineralisation across the company’s broad land holdings that lie within easy trucking distance of its fully-owned Radio Hill processing plant.
Geographically, the sampling program has outlined 7 priority target areas spread throughout Artemis’ tenure, with many showing multi-element responses at the same locations.
The company used its own “Carlow Index” to provide some context for the plethora of results received from the program by directly comparing the assays and multi-element suites to the emerging high-grade Carlow Castle cobalt-gold-copper project area.
Based on the comparison to Carlow Castle as a baseline data set, the company delineated 3 lookalike cobalt targets in similar rock sequences at Carlow North, Fenceline and Zac.
These targets have been defined over significant strike lengths, with the anomaly at Carlow North showing up over 600m and the cobalt signature at Fenceline exceeding 2km.
The target at Zac is about 900m long and located within a faulted contact of mafic-ultramafic sequences and banded iron formations that look very similar to Carlow Castle, just 25km to the east northeast.
The new Purdy’s Reward target to the south shows strong anomalous cobalt assays associated with sheared basalts close to the margin of a granite.
Additionally, the work has outlined the Dingo and The Gap targets, which are believed to be associated with mafic intrusions and show metallic assay signatures that are also very similar to Carlow Castle.
The Bel’s PGE target is showing an unusual mix of platinum group metal and cobalt responses that are possibly related to a nearby, structurally altered mafic-ultramafic intrusive.
According to the company, there is no other recorded historical exploration over any of the other newly identified regional targets with the only exception being the Dingo target which has seen some minor drilling for PGE mineralisation in the past,
Artemis Executive Director Ed Mead said: “Cobalt has been known … in this region since the early 1920’s but noprovince wide assessment has been undertaken until now. This firstregional compilation of historic and newly acquired geochemical datagives us the first view into cobalt prospectivity and has identified multiplenew cobalt targets across the broader Artemis tenure.”
“Drilling by Artemis at the Carlow Castle … project is informing ourregional view of the cobalt opportunity and this work shows there is muchmore to be discovered in the West Pilbara, with modern techniques.Ranking and prioritisation of these targets is now underway.”
The company is now ranking and prioritising the new target areas and compiling work programs and heritage surveys ahead of its planned first-pass aircore drilling.
Meanwhile, Artemis is busy putting together its updated JORC compliant mineral resource estimate for the Carlow Castle project, which is expected later this quarter.
This announcement will no doubt be hotly anticipated by the market.
https://thewest.com.au/business/public-companies/artemis-locks-down-new-pilbara-drill-targets-ng-b881005711z
Sudbury Prospectors and Developers Association Technical Talk by Wesley Whymark, Chief Geologist
http://www.inventusmining.com/blog/2018/10/17/sudbury-prospectors-and-developers-association-technical-talk-by-wesley-whymark-chief-geologist
Pacton Enters Into Strategic Processing Alliance With Artemis
VANCOUVER, Oct. 17, 2018 /CNW/ - Pacton Gold Inc. (TSXV: PAC, OTC: PACXF, FSE: 2NKN) (the "Company" or "Pacton") is pleased to announce it has signed a Memorandum of Understanding ("MOU") with Artemis Resources Limited (ASX: ARV, FSE: ATY, USOTC: ARTTF) ("Artemis"), an Australian Securities Exchange listed exploration company, to enter into a strategic processing alliance ("Alliance").
Highlights of the Transaction:
Permitted processing facility provides potential of rapid advancement of Pacton's projects through substantial bulk sampling and production scale testing of gold mineralization.
Pacton's multiple mining leases held across a number of projects provides a rapid pathway for trial mining to be undertaken.
Project scale review underway across entire portfolio to identify opportunities for near term production from both conglomerate and shear hosted mineralization styles.
The MOU contemplates collaboration between the two companies, whereby Pacton can utilize Artemis' 100% owned Radio Hill processing plant, located 30 kilometres from the city of Karratha, on a non-exclusive basis. The Alliance provides Pacton with the potential to bulk process conglomerate and shear hosted mineralization from Pacton's multiple mining leases and therefore opens a rapid pathway to production.
Under the terms of the MOU, Artemis and Pacton will seek to work collaboratively to determine how they can together advance, or leverage off, Artemis' Radio Hill operations and processing infrastructure. Commercial terms for any processing arrangement remain subject to negotiation in a formal agreement.
"The strategic processing alliance with Artemis provides a far reduced upfront capital cost of evaluating near term development opportunities within the Pilbara. Pacton's extensive land holding in the Pilbara contains a multitude of prospects requiring evaluation. Through Pacton's granted mining leases in conjunction with the processing solution provided by Artemis, the alliance partners are well positioned to expedite development opportunities," commented Alec Pismiris, Interim President and CEO of Pacton Gold. "We look forward to working closely with Artemis, an established long term operator in the Pilbara region and strive to capitalize on the operating synergies between both parties."
About Pacton Gold
Pacton Gold (PAC: TSXV; PACXF: US, FSE: 2NKN) is a well-financed Canadian junior with key strategic partners focused on the exploration and development of conglomerate-hosted gold properties located in the district-scale Pilbara gold rush in Western Australia.
On Behalf of the Board of Pacton Gold Inc.
Alec Pismiris
Interim President & CEO
https://www.newswire.ca/news-releases/pacton-enters-into-strategic-processing-alliance-with-artemis-697770051.html
Inventus Mining Announces Private Placement
https://static1.squarespace.com/static/56d987d21bbee076a4c0be7f/t/5bc49c94e2c48365e0d78130/1539611796656/Inventus_Oct_15.pdf
56% uplift in Whundo copper/zinc resource for Artemis
ASX listed multi-commodity developer Artemis Resources has announced a significantly upgraded remnant JORC mineral resource for its mothballed Whundo base metals open pit mine, south of Karratha in WA.
The new resource, which is all sitting at the more confident “indicated” status, now shows 2.65 million tonnes grading 1.14% copper and 1.14% zinc, representing an impressive 56% jump in contained metal.
Importantly, the new estimate shows a near 30% increase in the fresh rock sulphide material, whilst providing a maiden resource of 390,000 tonnes grading 1.75% copper and 0.47% zinc on the remaining oxide ores at the old mine.
The Whundo mine was mothballed back in 2008 due to the low prevailing copper and zinc prices at the time and this is the first new resource estimate completed for Whundo since early 2012.
The price for copper and zinc has effectively doubled over that period and hence, the updated resource provides a timely review of the Whundo project’s scope and potential economic feasibility in light of the new commodity prices.
Historically, the mineral deposit has seen nearly 53,000 metres of drilling thrown at it and Artemis also completed a further 5,490 metres during 2018 to bring the mineral resource up to a standard where new ore reserves can be delineated with confidence.
The Whundo project is 100% owned by Artemis and is located on a granted mining lease just 7km southeast of the company’s Radio Hill processing plant, which previously treated all the ores from the mine.
Artemis CEO Wayne Bramwell said: “This resource upgrade has seen a circa 30% uplift in the Whundo sulphide resource to 2.2Mt and contained copper and zinc metal tonnes has grown significantly to ˜60,000t combined. The shallow oxide resource is entirely new.”
“Whundo was shut down in 2008 due to low copper and zinc prices. It is a valuable asset, considering it is an approved mining lease and is so close to our Radio Hill processing plant. The oxide grade of 1.75% Cu is tantalising and with this zone extending from near surface to ˜40m below surface, Artemis is evaluating the integration of SX-EW processing at Radio Hill.”
“In addition, the larger sulphide zone could provide an additional blending source that could supplement Carlow Castle ore and further enhance copper grade to the Radio Hill Operations.”
According to the company, the Whundo deposit occurs in two zones called Whundo and Whundo West, which are hosted within a single ore horizon of felsic volcanic rocks as a series of shallowly plunging shoots.
The mineralised shoots can reach up to 20m in width where structurally thickened and they have a down plunge extension of up to 150m based on existing drilling.
Elsewhere, Artemis is steadily building up its geological knowledge of the intriguing Carlow Castle deposit, which is located about 35km northeast of the Radio Hill plant.
Carlow Castle is a high grade cobalt, gold and copper deposit and has been the focus of most of the company’s exploration efforts in the western Pilbara over the last 6 months or so.
Throw in some very interesting conglomerate gold ground in JV with high-flying partner Novo Resources and a recent 70% earn-in to the platinum group metal and gold deposit at Munni Munni to the west of Whundo and Artemis is really juggling a lot of balls in the air at present.
https://thewest.com.au/business/public-companies/56-uplift-in-whundo-copperzinc-resource-for-artemis-ng-b88986967z
Diamond Drill On-site at 007
Similar to our 1,000 tonne bulk sample at Trench 1 in 2017 (results here http://www.inventusmining.com/s/Inventus_Jan3.pdf), the first step in the next phase of bulk sampling at 007 is to strip and diamond drill the area on a 5x5 m grid. The drill arrived today and should be operational tomorrow. This will enable us to define exactly where the eventual bulk sample will be taken, and give us an indication of the gold grade.
http://www.inventusmining.com/blog/2018/9/27/diamond-drill-on-site-at-007
Looks like someone dumped their position in a hurry. I wish they had done that before I bought more a couple weeks back.
Artemis to complete Radio Hill gold circuit upgrade by early 2019
September 21, 2018
Artemis Resources is on course to complete Stage 1 of its 0.5Mt/y gold circuit expansion at the Radio Hill plant in the Pilbara by early next year.
Radio Hill is 100 per cent owned by Artemis and roughly 35km from Karratha, Western Australia. The gold circuit upgrades are designed to expand on and complement Radio Hill’s current base metal ability.
Upon completion of the upgrades, it will serve as a hub for the company’s surrounding gold deposits, including Purdy’s Reward, Weeriana, Nichol River, Silica Hills and others.
Gold circuit construction work at the Radio Hill plant — which originally dates back to 1988 and has seen several owners — commenced on August 20. Works include crushing equipment and tailings installations as well as construction of a gold room to complement the circuit.
It follows on from previous crushing and grinding circuit upgrades announced in November last year led by companies Process 26 and Gekko Systems.
These upgrades included extensive crushing circuit refurbishment (now completed) and slurry pump overhaul and installation, in addition to the installation of high-voltage cables and ongoing milling area upgrades.
Installation of a tertiary crusher has also been completed, as have foundations for a thickener and flocculant plant. Modifications to conveyors and screens are also finished.
Gekko is leading work on the gold circuit installation, while Artemis is advancing negotiations with company Horizon Power for long-term power supply at the site.
Artemis chief executive officer Wayne Bramwell said installation of Stage 1 would bring the process of expanding Radio Hill’s “multi-metal capability”.
https://www.australianmining.com.au/news/artemis-complete-radio-hill-gold-circuit-upgrade-early-2019/
Presentation Updated With A Few New Slides
http://www.inventusmining.com/s/IVS_Presentation_Sep2018.pdf
Because it is only a Letter of Intent. When they sign the Definitive Agreement, it will likely be recognized by Hoschild in their filings
Up 8.8% overnight on the ASX with 3.4 million shares traded.
https://www.asx.com.au/asx/share-price-research/company/ARV
HIGH-GRADE Au, Co and Cu HITS CONTINUE AT CARLOW CASTLE
132m @ 4.89g/t Au, 0.25% Co and 1.11% Cu from 98m (ARC 139)
Artemis Resources Limited (“Artemis” or “the Company”) (ASX: ARV and Frankfurt: ATY) is pleased to announce high grade intercepts from reverse circulation (RC) drilling at the company’s Carlow Castle Project in the West Pilbara.
HIGHLIGHTS
Excellent gold, cobalt and copper assays continue to be delivered from the Company’s Carlow Castle Project. Best RC drill intersections include:
* 132m @ 4.89g/t Au, 0.25% Co and 1.11% Cu from 98m (ARC 139)
including:
* 16m @ 18.78g/t Au, 0.82% Co and 2.37% Cu from 211m, and
* 5m @ 29.74g/t Au, 1.12% Co and 3.42% Cu from 213m.
* 53m @ 7.6g/t Au, 0.33% Co and 1.57% Cu from 151m (ARC 138).
* 33m @ 17.29g/t Au, 0.37% Co and 2.22% Cu from 151m (ARC 133),
including:
* 4m @ 102g/t Au, 1.22% Co and 9.99% Cu from 175m.
* 15m @ 3.2g/t Au, 0.42% Co and 0.8% Cu from 148m (ARC 102) including:
* 5m @ 7.47g/t Au, 1.04% Co, 1.24% Cu from 148m.
* 3m @ 31.5g/t Au, 1.45% Co and 3.57% Cu from 130m (ARC 102).
* 3m @ 5.8g/t Au, 0.13% Co and 0.59% Cu from 173m (ARC 102).
Carlow Castle is located ˜35km from the Company’s 100% owned Radio Hill processing plant. Additional assays are pending and will be released as soon as they become available.
Artemis’ Chief Executive Officer Wayne Bramwell commented:
“Carlow Castle is new and becoming a significant discovery in the West Pilbara. The gold, cobalt and copper tenor defined by Artemis to date is exceptionally high and the system is open at depth and along strike. Our current drilling footprint only covers an area 500m wide by 1.2km long and the three known targets are rapidly morphing into a much larger system than initially predicted.
Artemis is excited as to the potential local and regional scale of this system. More assays are pending, with Artemisremaining focused upon delivering a resource update for Carlow Castle in the next quarter.”
https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC6gm8yhmZoeVvke92GA%3D%3D
Artemis Resources Aug 2018 Investor Presentation
http://www.artemisresources.com.au/investors-relations/presentations-speeches/21-aug-2018-investor-presentation/viewdocument
CONTINUITY CONFIRMED IN UPPER GOLD-BEARING CONGLOMERATE FROM COMET WELL TO PURDY’S REWARD
Artemis Resources Limited (“Artemis” or “the Company”) (ASX: ARV) is pleased to provide the following update by Novo Resources Corp. (“Novo”) on the Purdy’s Reward Conglomerate Gold Project. Novo is the manager of this project under the 50/50 Artemis – Novo Joint Venture arrangements. Purdy’s Reward is located south of Karratha in the Western Pilbara Region of Western Australia.
HIGHLIGHTS
* Ground disturbing exploration has restarted at Purdy’s Reward.
* Diamond drilling is underway and is aimed at further defining the prospective conglomerate gold unit along strike and down dip.
* Large area clearing for mapping (like that seen at Comet Well) to be undertaken, followed by bulk samples.
* Structural interpretation has identified faults which are formed during mineralisation.
Artemis’ Executive Director, Edward Mead, commented:
“We are pleased to see the resumption of exploration activities at Purdy’s Reward. The geological and structural understanding of the Comet Well to Purdy’s Reward Conglomerate gold trend has significantly advanced since exploration started. With bulk sampling techniques streamlined by Novo over the past months at Comet Well, Artemis looks forward to improved turn around times for assays from Purdy’s Reward.”
The relevant parts of the Novo news release (including figures) published on 16 August 2018 are shown below, with the addition of the JORC ‘Table 1’ appended to this release to comply with ASX requirements. Novo’s release can be read in full on its website. Artemis does not have an interest in the Comet Well tenement
www.artemisresources.com.au/investors-relations/announcements#
You're correct. We all know the share price sucks regardless of how many zeros come after the decimal place.
The NI 43-101 doesn't refer to resources at this point because there isn't enough data to support an official resource estimate. However, they do refer to "exploration targets" where they attempt to provide some sort of estimate on tonnage, grade and metal content to the property thus far, using a worst case, middle case and best case scenario.
In the (P10) worst case scenario, the exploration target has 450,000 tonnes of ore with a 4.2 g/t grade and a metal content of 60k ounces. At $1,200/oz, that comes to $72 million.
In the (P50) middle case scenario, the exploration target has 8.6 million tonnes of ore with a 3.5 g/t grade and a metal content of 950k ounces. At $1,200/oz, that comes to $780 million.
And finally, in the (P90) best case scenario, the exploration target has 12.5 million tonnes of ore with a 3.5 g/t grade and a metal content of 1.4 million ounces. At $1,200/oz, that comes to $1.68 billion.
Obviously this is a very rough estimate, though it is based on the geological data, exploration and bulk sampling completed to date. It also doesn't include extraction, expansion and further exploration costs. However, it at least provides shareholders (and financiers) a certain level of valuation that can be associated with the property and the company. The upcoming bulk 5,000 tonne bulk sample, along with the ore sorting techniques, will provide even more data and help to further refine the estimate.
As an Inventus shareholder, I'm very pleased. So must Mr. McEwen and Mr. Sprott!
Recommendations from the latest NI 43-101
1.10 RECOMMENDATIONS
After review and analysis of the 2015 through 2017 exploration program data on the Pardo project, additional exploration is warranted. The following phase 1 and phase 2 exploration programs are recommended. A breakdown of the estimated costs for phase 1 & 2 is provided in section 18.
1.10.1 Phase 1
The phase 1 program is designed to continue advancing the Pardo Property towards an initial resource estimate. The phase 1 exploration program includes bringing the property to an advanced exploration status and conducting a 10,000-tonne bulk sample from two separate locations to assist and build confidence in grade estimation between drilling and bulk sampling.
The proposed budget to complete Phase 1 is approximately $1.2 million. The campaign would begin as soon as the advanced exploration permit is granted and likely continue until the end of 2018.
1.10.2 Phase 2
The phase 2 program is an extension of the phase 1 program and is designed to continue advancing the project towards a resource estimate.
The campaign would be comprised of a 40,000-tonne bulk sample at different locations to provide production gold grade data from additional subdomains with only exploration drilling gold grade estimates. The bulk samples would further aid with the development of a resource estimate and provide further confidence of the gold grade in their respective subdomains.
The phase 2 program should also pursue the use of ore sorting technologies.
The proposed budget to complete phase 2 is approximately $4.8 million. If ore sorting is implemented into the Phase 2 program the additional cost would be approximate $520,000 thousand. Additionally, if ore sorting is used it would reduce the overall tonnage being trucked and milled potentially lowering the overall costs.
Additional recommendations include:
• Continue the use of large diameter HQTW diamond drill holes to outline the extent, thickness and tonnage of the mineralized boulder conglomerate.
• Continue the collection of channel sampling to further define grade distribution in the main zones and between them if possible.
• Create a master data drill and channel database
• Validate the data that was not previously validated in section 12.
• Standardize the detection limits inside the QA/QC database (remove the multiple detection limits including zeros).
• Continue to evaluate the use of ore sorting technologies for the mineralized conglomerates.
• Continue the collection of specific gravity measurements for the various rock types and alteration styles. There should be approximately 4 to 5% of the database with specific gravity measurement and complete a check SG program on ~ 10% of the SG data.
Inventus Mining Files Technical Report on Pardo Project
August 07, 2018 16:15 ET | Source: Inventus Mining Corp.
TORONTO, Aug. 07, 2018 (GLOBE NEWSWIRE) -- Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) is pleased to announce that it has received an updated technical report prepared in accordance with National Instrument 43-101 (“NI 43-101”) on the 100% owned Pardo Paleoplacer Gold Project located 65 km northeast of Sudbury, Ontario (the “Technical Report”).
The Technical Report dated August 3, 2018 is entitled “Technical Report on the Pardo Paleoplacer Gold Project Ontario, Canada” and was prepared by independent Qualified Persons (as the term is defined in NI 43-101) at Nordmin Engineering Ltd. in Thunder Bay, Ontario. The Technical Report is available for download on the Company’s website (inventusmining.com) and SEDAR (sedar.com).
Project Milestones
The previous technical report on Pardo was completed in 2015, and since then Inventus has accomplished six important milestones which are highlighted in the new Technical Report, including:
Consolidating 100% property ownership in Inventus,
Converting the core claims to a mining lease and upgrading the project to advanced exploration,
Completing the first 3D geological model of the property,
Processing the first one thousand tonne bulk sample that returned a calculated head grade to 4.2 grams per tonne gold,
Submitting the first mining permit application for the project in support of a 50,000 tonne bulk sample scheduled to begin later this year, and
Conducting the first quantitative risk assessment and estimation of the exploration target range.
Exploration Target Range
The Technical Report provides an assessment of the exploration target range for the Pardo Project using a quantitative approach that integrated the available drill holes, channel sampling, bulk sampling and geological information.
The exploration target range is expressed in terms of pessimistic, moderate and optimistic cases. Following the conventional use of such distributions, the 10th percentile (P10) defines a pessimistic case, the 50th percentile (P50) defines the moderate case, and the 90th percentile (P90) defines an optimistic case for the mineralized Mississagi Boulder Conglomerate unit.
The pessimistic case (P10) assumes that the mineralization is only confined to the zones that were bulk sampled and/or have extensive channel sampling and drilling at the Trench 1, Trench 2, 007, Godzilla, Eastern Reef and High Grade occurrences.
The moderate case (P50) assumes that approximately 50% of the mineralization defined is continuous within the boundaries of the mineralized Mississagi Boulder Conglomerate unit.
The optimistic case (P90) assumes that the mineralization between these zones is continuous and extends to the currently known boundaries of the mineralized Mississagi Boulder Conglomerate unit. ?
The P10, P50 and P90 range for the exploration target at the Pardo Project is rounded to reflect the inherent uncertainties and is shown in table 1-1.
Table 1-1: Exploration target P10, P50 and P90 ranges for the Pardo Project.
Parameter P10 P50 P90
Tonnage (t) 450,000 8,600,000 12,500,000
Gold Grade (g/t) 4.20 3.50 3.50
Metal Content (oz) 60,000 950,000 1,400,000
The tonnage, grade and contained ounces are conceptual in nature and are based on previous detailed surface mapping and drilling and channel sampling results that define the approximate thickness, depth and grade of the mineralized conglomerate unit.
These ranges are conceptual in nature since the Pardo Project requires further drilling and surface sampling to validate the geological and statistical assumptions used. Although all the technical assumptions are supported by the spatially limited drilling and available geological data at the time, further drilling may challenge these assumptions. As such, there has been insufficient exploration to define a current mineral resource and the company cautions that there is risk that further exploration will not result in the delineation of a current mineral resource.
About Inventus Mining Corp.
Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ontario. Our principal asset is a 100% interest in the advanced exploration stage Pardo Paleoplacer Gold Project located 65 km northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America. Inventus has 106,971,069 common shares outstanding (117,265,235 shares on a fully diluted basis).
https://globenewswire.com/news-release/2018/08/07/1548493/0/en/Inventus-Mining-Files-Technical-Report-on-Pardo-Project.html
EXCEPTIONAL Au, Co and Cu INTERCEPTS
PERSIST AT CARLOW CASTLE
22m @ 6.10g/t Au, 0.55% Co and 2.35% Cu from 133m (18CCAD010)
Artemis Resources Limited (“Artemis” or “the Company”) (ASX: ARV) is
pleased to provide this drilling update from its Carlow Castle Project in the
Pilbara.
HIGHLIGHTS
Significant gold, cobalt and copper intervals persist in latest diamond results
from Carlow Castle.
? Drilling has intersected mineralisation in a north-south orientation from
Quod Est to Carlow Castle South (over a distance of 500 metres).
? The main strike of mineralisation at Carlow Castle South is east-west (with
current defined strike distance of this east - west trend approximately
1.2km).
? Current Artemis drilling is infilling the 1.2km east - west strike and seeks
to join Quod Est, Carlow Castle South and Carlow Castle South East into
one large resource – then drilling will step out to test further strike
extensions.
Best diamond drill intersections include:
• 22m @ 6.10g/t Au, 0.55% Co and 2.35% Cu from 133m (18CCAD010)
? including 4m @ 15.07/t Au, 1.08% Co and 4.34% Cu from 143m;
and
? including 6m @ 7.89g/t Au, 1.14% Co and 1.21% Cu from 149m.
• 31m @ 1.65g/t Au, 0.11% Co and 0.47% Cu from 37m (18CCAD003)
? including 4.73m @ 7.39g/t Au, 0.44% Co and 1.42% Cu from
60.27m.
• 4.5m @ 2.34g/t Au, 0.23% Co and 0.33% Cu from 45m (18CCAD012)
• 3.5m @ 4.08g/t Au, 0.45% Co and 1.52% Cu from 25.5m (18CCAD008)
• System open at depth and along strike and drilling continues
• Carlow Castle is ˜35km by gazetted roads from the Company’s 100%
owned Radio Hill processing plant.
Artemis’ Chief Executive Officer, Wayne Bramwell, commented:
“Shallow drilling by Artemis continues to define impressive widths and
grades of gold, copper and cobalt at Carlow Castle. Though not fully defined
yet, Carlow Castle looks to be a part of a larger mineralised system that is
open at depth and along strike.
Drilling along strike and at depth could quickly add resource tonnage here.”
http://www.artemisresources.com.au/investors-relations/announcements#
The Smart Money is in Pilbara Conglomerate Gold Plays
Investing News Network - July 26th, 2018
Pilbara’s conglomerate gold discoveries may be a test of mining ingenuity but long-term investor confidence remains.
The Pilbara Gold Rush in Western Australia kicked off in July 2017 with Artemis Resources (ASX:ARV) and Canadian joint venture partner Novo Resources’ (TSXV:NVO) discovery of near-surface conglomerate-hosted gold nuggets over impressive strike lengths at Purdy’s Reward.
By November, more than two dozen resource companies had flooded into Pilbara searching for gold. The discovery also caught the attention of major player Kirkland Lake Gold Ltd (TSX:KL, ASX:KLA), which has invested C$56 million into Novo Resources, as well as kingmaker Eric Sprott who has taken up share positions in a number of players in the region.
The Pilbara Gold Rush is well into its first year and although there have been some road bumps along the way, there is still a healthy momentum rolling through that red earth. Resource companies are quickly securing strategic financial partnerships and acquiring land packages in the hopes of hitting pay dirt on the watermelon seed-shaped gold nuggets being likened to the conglomerate gold found in South Africa’s prolific Witwatersrand Basin.
What is conglomerate gold and why is it important?
Sediment-hosted conglomerates, of which Witwatersrand is the most famous example, account for more than half of the world’s gold production. These types of deposits are known to occur in many Archean cratons globally—including those found in Europe and India—resting unconformably over Archean granite-greenstone terrains.
Western Australia’s resource-rich Pilbara region covers more than half a million square kilometers including some of the world’s most ancient rock formations and is most well-known for its world-class iron deposits. However, the latest developments have shown significant potential for new gold-focused districts. The fact that the region remains underexplored despite a well-entrenched mining industry is all the more attractive to majors and juniors alike.
“The Pilbara Region of Western Australia is one of the most resource rich areas in Australia and there has been very little exploration at depth,” said Artemis’ Executive Chairman David Lenigas. “In essence, Western Australia has been spoilt for choice for shallow mineral wealth. It’s time that someone started looking for the source of a lot of mineralisation in the Western Pilbara that has fed the many surface deposits of cobalt, nickel, copper, zinc, gold and PGE’s, within Artemis’ extensive tenement package south of Karratha.”
The crux of the excitement in the region is over the possibility that the Pilbara Craton shares geological DNA with South Africa’s Kaapvaal Craton, home to the Witwatersrand Basin—which hosts the earth’s largest known gold reserves and is responsible for over 40 percent of the gold produced worldwide to date. The Witwatersrand Gold Rush of 1886 was largely responsible for the establishment of Johannesburg, and so important to the economic development of South Africa that the national currency is today known as the Rand.
While there are significant differences in the two systems (including provenance, tectonics and continuity), there are similarities worth exploring, according to a recent presentation by SRK Principle Geologist, Mike Cunningham. Both Pilbara and Witwatersrand sit on top of Archean granite-greenstone basement similar in age and composition, hosting numerous small mesothermal gold deposits (with high-nugget mineralization). In both regions, gold deposition is closely related to the deposition of detrital pyrite, uraninite and carbonaceous matter.
“Is the conglomerate gold in Pilbara real? Yes, of course it is. Can we use Wits as an analogue? Yes. But there are very important differences,” said Cunningham, who also emphasized that “discovery matters.” That is to say that although the deposit model type for Pilbara’s gold system may not be exactly the same as that found in the epic Witwatersrand Basin, it is in fact conglomerate gold and worthy of all the attention now focused on the region.
The challenge of the nugget effect
While the potential for prolific gold production makes the conglomerate type discovery at Purdy’s Reward attractive, the discontinuous distribution of the watermelon seed size nuggets has posed a problem for Novo Resources. Conglomerate gold by nature can display very irregular and patchy distribution, which can result in huge discrepancies even between adjacent drill holes. This discontinuity is what geologists call the ‘nugget effect’. This reality coupled with the fact that samples from conventional drilling are typically small in size often leads to a high level of uncertainty when generating grade estimates for resource blocks.
“The nugget effect for Pilbara gold poses a bit of a challenge, making it difficult to define a mineral resource estimate,” notes Cunningham. “Therefore, it’s hard to encourage money from investors because you need to obviously prove that you’ve got something worthwhile to invest in.” In fact, news of Novo’s first few exploration results fell flat and the market responded with a savage sell-off.
And yet, Novo’s challenge isn’t a reason to call it quits, take your ball and go home. Other resource companies have faced the challenge of nugget effect and won. It’s about being able to think outside the box. In his talk at the RIU Explorers Conference 2018, Cunningham posed the questions: How do we tackle this challenge? Is bulk sampling the answer?
Cunningham uses Inventus Mining’s (TSXV:IVS) Pardo conglomerate-gold host project in Sudbury, Ontario as an example. He points out that after obtaining an average gold grade of 1.34 g/t over 11 diamond drill holes, the company decided to conduct a large 1,000 tonne bulk sampling program which returned an average grade of 4.2 g/t gold.
Recognizing that the best way to advance the their JV project “is to ultimately move it toward large-scale bulk sampling,” Novo and Artemis recently announced a AU$5.4 million exploration program that both companies have referred to as an “important step” toward completing a JORC-compliant resource estimate in order to convert the exploration license to a mining lease and in turn boost investor confidence.
“Novo is at a critical point here with this next bulk sampling program. We’re talking about a new region with a new geology and new way of understanding the right exploration methods to develop an accurate resource model in a district that has the potential to become the next Witwatersrand ,” Jeb Handwerger, long-time gold stock analyst and founder of Gold Stocks Trade, told INN. “We can expect to see some important developments at Novo over the next few months as the complete their bulk sampling.”
Follow the smart money
It’s important that investors understand that when it comes to junior gold exploration, discoveries tend to build high expectations in the market sending share prices up; on the flip side when reality sets in—such as a challenging deposit type—those expectations can cool and settle down a bit until development and production bring another big rise in valuation.
“I understand that the discontinuity and the challenges of the nugget effect are causing some hesitation on the part investors and some of this critique may have truth to it,” said Handwerger. “What has really attracted me to the Pilbara region is the involvement of Eric Sprott and Kirkland Lake, whose shareholders include heavies such as Van Eck, Fidelity and Oppenheimer. This is an early-stage discovery, but the involvement of a company like Kirkland Lake—which has been one of the top gold mining stories in recent years—speaks highly of its potential.”
Kirkland chairman Eric Sprott is also a major shareholder in Novo Resources. Following the release of Novo’s first bulk sampling results from the Comet Well area of the project in May 2018, Sprott purchased 47,900 shares of Novo stock at an average cost of C$4.72 per share, for a total transaction of C$226,088.00.
Other players in the region with Sprott’s confidence
Pacton Gold (TSXV:PAC; US:PACXF) controls the third largest land package in the Pilbara region following a round of acquisitions of several projects located between the properties of Novo Resources and De Grey Mining. Pacton’s expanding portfolio includes properties known to host gold nuggets as well as several existing mining leases which provide the potential for immediate large-scale bulk sampling programs. The company’s most recent purchase is the Bellary Dome project from Marindi Metals (ASX:MZN) from which nuggets similar to those discovered by Novo have been recovered. The significance of Pacton’s land holdings has attracted the investment of Eric Sprott who holds 10.1 percent of the outstanding common shares in the company.
De Grey Mining (ASX:DEG) recently received a $5 million investment from DGO Gold (ASX:DGO) to advance exploration and pre-feasibility work at its Pilbara gold property. The project is unique for the area in that it has an established resource of more than 1.2 million ounces of conventional gold, with upside coming from its most advanced conglomerate prospects on the property (Loudens Patch, Jarret Well and Steel Well) which it plans to bulk-sample as well. About 100 kilometers east of Purdy’s Reward, the Loudens Patch alone has yielded more than 200 gold nuggets. Kirkland Lake has invested A$5million in De Grey.
Kairos Minerals’ (ASX:KAI) Pilbara gold project hosts the conventional Mt York deposit and recently reported an updated JORC resource estimate of 643,000 ounces of gold for the project. Kairos also holds 1,158 square kilometres of tenure which is highly prospective for conglomerate-hosted gold. Kirkland has invested $5million in Kairos.
The takeaway
The Pilbara Gold Rush is still in its infancy and the deposit type is not as yet understood, so challenges are to be expected. The geology may not be an exact replica of the prolific gold fields of South Africa’s Witwatersrand, yet all the signs are there that Pilbara has the potential to become a significant gold district in its own right.
https://investingnews.com/daily/resource-investing/precious-metals-investing/gold-investing/pilbara-conglomerate-gold-rush-nugget/