Value Microcaps Junior Miners

[Lone Clone]

KRR, ODV, GOT, TUO, IAU

Karora Resources aka KRR released the remaining results from its recently completed infill drill programme into the Fletcher Shear Zone in its Beta Hunt gold/nickel mine in Australia. With headline results like 15.9 g/t Au over 6.0m and 4.8 g/t Au over 32.0m, it looks like Fletcher will join the Western Flanks and A Zones as the third gold production area at Beta Hunt. Even better, with this drilling we now know that Fletcher is located close to both the existing Western Flanks gold resource and existing nickle mining infrastructure, so the new mineralization will be relatively cheap and easy to access.

Another infill drill programme concentrating on the northern portion of Fletcher will begin before the end of the year.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34414442

Osisko Development aka ODV's latest release concerning its Trixie mine in Utah contains some impressive assays, but there are two provisos. First, they are chip samples, which are normally chosen from the most promising areas and hence not representative of the overall deposit, and second, these are narrow intersections. That said, the number are still impressive, e.g. 361.93 g/t Au over 1.10m, and 68.10 g/t Au and 39.10 g/t Ag over 1.68m.

It will require systematic drilling to understand what these sample assays actually mean, with the good news being that construction of the new decline is only 80m away from breaking through to existing workings, which will greatly assist in both drilling and eventual extraction of ore. Once the current drilling is complete, expect a new Resource Report for Trixie.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34414520

Goliath Resources aka GOT issued their umpteenth PR of the summer regarding its Goldigger Au/Ag prospect in BC's Golden Triangle, and this is one of the good ones. It actually contains assays!

And some of the assays are very impressive, e.g. 14.68 g/t AuEq (5.81 g/t Au and 719.13 g/t Ag) over 26.89m (approx. true width), including 23.89 g/t AuEq (9.40 g/t Au and 1176.14 g/t Ag) over 15.49m and 33.02 g/t AuEq (10.97 g/t Au and 1817.34 g/t Ag) over 9.60m. They have been able to define two large zones, Surebet and Bonanza Shear that contain enough metal that it seems likely will be economically mineable. (Note that this is pure speculation on my part; it will require a lot of study to confirm this.)

The market's response to what should be good news is no response, which brings us back, yet again to their poor PRs. Why wasn't last week's assayless PR combined with this one? Not only would the combined PR have packed more punch, it would have saved GOT some money. And again this PR continues innumerable references to visible gold, an indicator virtually meaningless on its own, but now they have taken to capitalizing it, e.g. Visible Gold. It is risible, but I still hold out hope that the quality and extent of the mineralization they are finding will eventually outweigh their terrible PR strategy.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34415732

Blackwolf Copper and Gold completed its buyout of Optimum Ventures. The reason this matters to Teuton Resources aka TUO is that OPV was very focused on its JV with TUO on Harry, a polymetallic prospect in BC's Golden Triangle. Until recently Blackwolf was also a one horse company focused on its Niblack polymetallic deposit just across the border in Alaska. We'll have to see if the new Blackwolf is as willing to use its resources exploring Harry as OPV was.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34415862

I-80 Gold aka IAU released the latest results from its ongoing drill programme at its Ruby Hill project in Nevada, and as usual, they were very good. In terms of Carlin-style Au minerlaization, located under the Archimedes pit, they found 6.9 g/t Au over 50.7m including 8.0 g/t Au over 24.9m at Ruby Deeps and 9.1 g/t Au over 10.2m at Lower Jack. in terms of CRD minerlaization, the headline results included 15.6 % Zn, 8.7 % Pb, 420.4 g/t Ag & 0.6 g/t Au over 40.4m including 20.9 % Zn, 25.1 % Pb, 1.0 g/t Au & 1,221.1 g/t Ag over 11.8m at Blackjack and 15.9 % Zn, 4.3 g/t Au & 284.4 g/t Ag over 7.2m at East Hilltop, along with 10.7 % Zn, 0.4 % Pb, 0.2 g/t Au & 37.0 g/t Ag over 47.9m in the Blackjack Skarn.

All these zones remain open in multiple directions, and recent geophysics has also identified a number of new targets which will also be followed up by future drilling.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34414462

FWIW, in response Scotia issued a new analyst report which saw these drill results as Positive but kept IAU at Sector Outperform with a target of $4.50.