Value Microcaps Junior Miners

[Lone Clone]

TUO, IAU, WEX, IPT, CEE, WM

Teuton Resources aka TUO and its JV partners announced the final set pf drill results from their 32km 2023 drill programme at the Treaty Creek project in BC's Golden Triangle. This time we hear about the most northeasterly holes targeting extensions of the Goldstorm deposit, which already has an Indicated resource of 23.37M oz AuEQ grading 1.13 g/t AuEQ and an Inferred resource of 7.35M oz AuEQ grading 0.98 g/t AuEQ.

As they have extended drilling northeast, they have been finding more and more high grade shoots, this time including 138m grading 1.67 g/t AuEQ which contains a central core of mineralization that averages much higher; 3.08 g/t AuEQ over 57m. They are also still drilling up long intersections like 570m @ 1.21 g/t AuEQ, but are increasingly focussing on the high grade areas, which along with the higher copper values to the northeast should have a positive effect on the economics of the project.

Drilling will resume in the spring once conditions allow.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34540019

Nevada miner i-80 Gold aka IAU released the latest set of drill results from its Ruby Hill property.

The first set of results come from the recently discovered East Hilltop zone, and they look good, delivering both CRD intercepts like 2.6 g/t Au, 344.0 g/t Ag, 5.8% Zn, & 6.0% Pb over 2.7m and 1.1 g/t Au, 174.4 g/t Ag, 3.8% Zn, & 2.0% Pb over 15.8m , and skarn intercepts like 22.4% Zn over 5.8m and 197.2 g/t Ag, 7.5% Zn & 5.0% Pb over 6.1m. As well, they found the highest copper values to date at Ruby Hill. They hope to connect this mineralization to other nearby deposits with future drilling.

At Upper Hilltop, infill drilling found intercepts like 2.1 g/t Au, 514.8 g/t Ag, 3.1% Zn & 23.4% Pb over 10.0m, Also at Hilltop, the first hole to the south intersected 60m of skarn mineralization, including 4 narrow high grade intercepts like 1181.0 g/t Ag, 19.5% Zn & 10% Pb over 1.5m, opening up a new area for exploration.

Other drilling confirmed extensions of mineralization at the Blackjack zone and at the FAD deposit to the south, acquired when they bought out Paycore.

IAU has submitted permits to develop an underground mine beneath the Archimedes pit at Ruby Hill. To remind you, a still unnamed third party is funding the current drilling in anticipation of taking a minority interest in the property. Meanwhile, further metallurgical testing is underway, as is a new Resource Report..

https://www.siliconinvestor.com/readmsg.aspx?msgid=34540040

In response, Scotia issued a new analyst report calling the impact Positive, but kept IAU at Sector Outperform with a target of $4.50.

Western Exploration aka WEX reported the results from metallurgical testing on material from the Dolby George deposit on their Auar property in Nevada, which they envision as a future leach heap producer. I would say the results generally look decent, though the complicated metallurgy due to the range of ore -- sulfide, oxide, and mixed -- makes the result beyond my pay grade to completely evaluate. The results will contribute to a future fessibility studies, so I'll be happy to wait to see what those studies say about these results and those of more met testing to come.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34540115

One of the initiatives promised by Impact Silver aka IPT when they bought the Plomosas Zn/Pb/Ag mine last year was to resume exploration on the many prospects on the property, which had been neglected by the previous owner. Now we get the first results from exploration within and around the mine itself.

Three holes from surface in the Tres Amigos zone found high grade mineralization like 5.70m with 7.9% Zn, 5.3% Pb, and 23.2 g/t Ag, and 10.8m with 6.30% Zn, 0.80% Pb, and 14.7 g/t Ag. Meanwhile, 58 samples taken over 50m within the mine yielded an average of 12.1% Zn, 5.8% Pb, and 44 g/t Ag over an average sample width of 1.8 m.

Exploration has now moved on to areas further from the mine itself, even as the continued ramp up of production from the mine and mill is, according to IPT, proceeding smoothly.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34540122

African gold miner Centamin aka CEE released its Q4 and annual production results and as expected, they were good. Higher ore production at higher grades from the Sukari mine in Egypt meant they increased Q4 production to 128127 oz Au, with cash costs decreasing to $984/oz. This in turn means CEE's 2023 production fell in the lower range of guidance in terms of both ounces and costs. We'll get more details when the annual financials are released in March, but they do tell us their cash stash had grown to $153M at year end.

CEE also released their 2024 guidance for Sukari. The new mine plan and the extensive pre-stripping completed last year means they expect 2024 production to increase to 470-500k oz Au, while cash costs are expected to decline significantly to between $700 and $850/oz Au.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34541293

In response, BMO issued a new analyst report, calling the impact Slightly Positive while maintaining CEE at Ourperform with a target of $2.57.

The other day, Quebec developer Wallbridge Mining aka WM updated us on their 2024 plans for their feature projects at Martinere and Fnenlon. Now we get an update on Grasset, located further east on the Detour-Fenelon gold trend. Grasset covers about 20 km of the Sunday Lake Deformation Zone, the same structure that hosts Martiniere, Fenelon, and AEM's nearby Detour Lake mine.

Drilling along the northern contact of the SLDZ found gold in 12 of 20 holes over a 5 km strike length, which they consider a success given the 50-80m of overburden. Assays ranged up to 2.04 g/t Au over 1.50m, but more work will be required to zero in on the targets.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34541331