Value Microcaps Junior Miners

[Lone Clone]

Peru is going to be brutal no matter which way the election goes. Remember that Fujimori is out on bail from corruption charges, and she has a strong ant-democratic authoritarian streak. I have divested most of my Peru holdings and will be very very cautious about returning.

Riverside Resources aka RRI results results of exploration on the La Silla gold/silver prospect in Sinaloa Mexico. The primary areas of interest are the El Roble & Ciruelo zones, both the site of old working amid extensive vein systems. RRI is run by geologists so we get reportage about the geological model they are developing, which they mention several times is analogous to one of Mexico's most productive gold districts located 40 km to the east.

As a project generator, RRI normally JVs out their properties. Indeed my notes says La Silla has been JVed to a private company, but there is no mention of this in the PR so presumably that JV has lapsed. In any case, mapping and sampling on ongoing.

https://www.siliconinvestor.com/readmsg.aspx?msgid=33333865

Kootenay Silver aka KTN announced more drill results from their Columba silver prospect in Chihuahua, Mexico. They continue to encounter zones of high grade minerlaization -- e.g. 985 g/t Ag over 1.5 m -- as well as thicker zones with assays like 39.9 meters of 159 g/t Ag.

Drilling continues.

https://www.siliconinvestor.com/readmsg.aspx?msgid=33333888

Impact Silver aka IPT, who currently are operating three silver mines in long-established districts in Mexico, reported their Q1 financials. They have long been a marginal operation that struggles to make a profit, and that continues even with current high silver prices, albeit they would have made a profit if not for a non-cash charge related to share-based compensation.. The tonnage and grade of ore mined and milled was down, but so were costs.

Overall, IPT is currently in good financial shape, with over $20M in working capital and no debt. As a result, they have announced a substantial exploration programme this year. Given that their properties are riddled with deposits and veins, one would hope they find a few new mines, and who knows, maybe they will even make a profit.

https://www.siliconinvestor.com/readmsg.aspx?msgid=33333921

Golden Goliath Resources aka GNG released another PR about the exploration of their Kwai gold prospect in Ontario, where they are focusing on the area around Beauregard Lake. The headline looks good -- Golden Goliath Discovers New Gold Bearing Shear Zone -- but then you read on and notice there is no table of drill results and only one mention of an assay measured in ppb, not very impressive.

But geologists, like speculators in mining stocks, have to be optimistic, and GNG is pushing ahead with geophysics while preparing for another drill programme on a different part of the property, still searching for the source of the gold grains in till that make Kwai an appealing prospect.

https://www.siliconinvestor.com/readmsg.aspx?msgid=33333965

And semi-OT, we got a truly bizarre update from Silver Bull aka SVB.

You can read the PR here

https://www.siliconinvestor.com/readmsg.aspx?msgid=33333981

And you can read my response here

https://www.siliconinvestor.com/readmsg.aspx?msgid=33333989