Value Microcaps Junior Miners

[Lone Clone]

WM, KTN, RRI, CKG, ANZ, IAU, GOT, ORS, BTO, MIRL

WM, KTN

It can be no surprise that Wallbridge Mining aka WM has initiated a new Resource Report for its Fenelon gold prospect in Quebec, given that the company has completed over 100km of drilling since the last one was released last year. There are two novel aspects: 1) this one will include the nearby Martineire deposit; and 2) this time the optimization focus on underground mining. the method used to extract most of the gold deposits in the area, rather than an open pit that was envisioned for the last one The new version is expected to be ready in Q1 next year, and even better, WM has also commissioned a PEA for completion in Q2. I am guessing that its release will mark the moment we find out whether WM is planning to sell off the properties, as I have been expecting, or decides to go ahead, with or without a partner, to develop the mines.

https://www.siliconinvestor.com/readmsg.aspx?msgid=33991361

Kootenay Silver aka KTN continues to report excellent drill results from the current drill campaign on the B & D Veins at its Columba Ag/Au/Pb/Zn prospect in Chihuahua, Mexico. In this PR we find both narrow high grade results -- 2.45m of 5,840 g/t Ag, 3.0 g/t Au, 3.08% Pb, and 17.25% Zn, the best drill result on the property to date -- and longer intercepts of what looks like mineable material, e.g. 29m of 453 g/t Agr 0.6% Pb, and 1.43% Zn These and similar results extended the D Vein a further 100m along strike, and the vertical extent is now over 300M, and remains open in almost every direction.

KTN is now talking about the potential for Columba to contain over 100M oz Ag, and to that end are designing a further drill progamme to extend the B, D, and F Veins, as well as test a number of exploration targets across the property.

https://www.siliconinvestor.com/readmsg.aspx?msgid=33991345

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RRI, CKG, ANZ, IAU, GOT, ORS, BTO

Project generator Riverside Resources aka RRI is mainly focused on Mexico, but they also have some gold prospects in Ontario, the most important being Oakes in the Geraldton gold belt. RRI's geologists started with a few minerlaized outcrops, and through mapping and sampling and trenching were to define what they call the HG zone, and now we get the first drill results from that zone. The results are not immediately eye-catching, e.e. 1.7 g/t Au over 4m and 8.4 g/t over 1m, but this was just a preliminary programme restricted to 100m in depth. Noting also that they did find gold on some structures parallel to HG, I expect a more thorough drill campaign to come now that the geological model has proved out. And given RRI is a project generator, I expect they are searching for a partner to pay for the further exploration in exchange for partial ownership.

https://www.siliconinvestor.com/readmsg.aspx?msgid=33996207

Chesapeake Gold aka CKG issued a metallurgical update on material sourced from its Metates project in Durango, Mexico. Metates is a very large low grade Au/Zn deposit, and CKG has been trying for the 15 years I have been following the company to unlock its value, trying various approaches but never coming up with anything good enough to attract the deep pocketed partners necessary to supply the large capex required to build the mine and mill(s). Even under new management, CKG remains well-funded but moves very slowly, e.g. near the end of this NR they comment that had planned to commence a PFS this year, but...

https://www.siliconinvestor.com/readmsg.aspx?msgid=33996183

Over the past number of years, one of the companies that combined to become Alianza Minerals aka ANZ has discovered several high grade veins on its Haldane Ag/Pb/Zn property in the Keno Hill district in Yukon Territory. They are once again on the hunt, with crews engaged in mapping and sampling on four prospects on the property. Interestingly, catalyzed by a recent nearby discovery by Banyan Gold, this time around they are also looking for gold mineralization. ANZ plans to follow up any discoveries with drilling, presumably next year given how late in the Yukon exploration season it is.

https://www.siliconinvestor.com/readmsg.aspx?msgid=33996125

I-80 Gold aka IAU continues to pull high grade drill results from the South Pacific Zone on its Granite Creek gold project in Nevada, with the headline result being 10.7 g/t Au over 14.5m on a 40m stepout. Given that IAU wants to bring Granite Creek into production within months, it is also significant that they intersected 15.5 g/t Au over 2.7m, 19.6 g/t Au over 10.4m, and 10.2 g/t Au over 4.9m within 100m of existing workings, which will be extended to access the ore.The SPZ now has a strike length of over 600m and a dip length of 250m and remains open in multiple directions, so with these kinds of grades it should be a real money spinner.

https://www.siliconinvestor.com/readmsg.aspx?msgid=33996101

This is getting darn frustrating. Goliath Resources aka GOT issued yet another PR on the ongoing drill campaign at the Surebet zone on their Golddigger Au/Ag prospect in BC's Golden Triangle full of pretty pictures and hopeful words about the mineralization they are seeing, but still no damn assays! Yes, that core does look very promising, and the Surebet zone has grown to 1.4 sq km., but until we get some assays...

https://www.siliconinvestor.com/readmsg.aspx?msgid=33995430

We hadn't heard from Orestone Mining aka ORS in months, but now we've had two PRs in a week with a promise of another in the near future. Last week they announced a large expansion of the property; this one concerns the completion of a large geophysical survey on their Captain gold/copper prospect in north central BC, not far from the producing Huckleberry mine. Geophysics is vital for this property as the mineralization is hidden under overburden. Previous drilling has found some mineralization, but further work has revealed the holes only touched the edge of what might be the giant porphyry they are looking for.

https://www.siliconinvestor.com/readmsg.aspx?msgid=33995437

FWIW, TD put out a new analyst report on B2Gold aka BTO, keeping their target at $9 but upgrading them from Buy to Action List Buy. They don't cite any [articular recent developments except for the recent selloff leaving them very undervalued considering their strong near-term outlook

It should also be noted that there are rumours about that BTO is shopping itself to potential buyers, most notably NEM.

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MIRL, BTO

Although the primary focus of Minera IRL aka MIRL continues to be enriching the overpaid CEO and the unqualified relatives and friends he hires to work for him at the company, they has found a bit of time and money to do some actual work.

They have been conducting a very slow drilling programme at the producing Corihuarmi gold mine in Peru, which was originally supposed to run out of ore to mine in 2012 but is still going strong. This drilling is aimed at further extending the mine life, and judging by the intercepts they are pulling, some of which exhibit multiples of the gold grade the mine has been generating profits from, they have been successful so far. We will also be getting an updated Resource Estimate, perhaps by the end of the year.

https://www.siliconinvestor.com/readmsg.aspx?msgid=33997851

B2Gold aka BTO released more drill results from the extensive programme underway at its Fekola gold complex in Mali. This set of results, from Anaconda, located 25km north of the main Fekola mine, contains three main positives: 1) the high grade sulphide shoot in the Mamba zone has been extended to 700m down plunge and remains open at depth; 2) the first results from the Cobra zone, located 2km east of Mamba, indicate the potential for additional resource upside; 3) a new set of studies evaluating various scenarios for the entire Fekola Complex including Anaconda are underway for completion including Anaconda is expected to be completed by the end of the year.

https://www.siliconinvestor.com/readmsg.aspx?msgid=33999274

In response, TD issued a new analyst report seeing the impact of the PR as Positive but keeping BTO at Action List Buy with a target of $9. TD opines that production from Anaconda could begin as early as Q2 next year.

Savile points out that gold has done very well in most currencies besides the US dollar of late. and that during 2018-2020 and 2007-2009, the most recent global economic busts, it also went up in other currencies first and the $US last.