Value Microcaps Junior Miners

[Lone Clone]

TUO, OGC

Tudor Resources aka TUO and its JV partners have reported some important news regarding their Treaty Creek project in BC's Golden Triangle. All the drill results from 2023 have already been released, but further analysis of the results have led to new revelations.

The first concerns the discovery of a high grade Au beccia within the Goldstorm deposit. These types of higher grade areas can make a large difference to the economics of the overall project, so following up the 2002 discovery hole for the newly-defined SC-1 zone, which yielded 20.86 g/t AuEq over 4.5m within a 25.5m zone of 9.96 AuEq, with two stepouts, one yielding 15.64 g/t AuEq over 15.0m, the other 10.07 g/t AuEq over 12.0m, is impressive. The SC-1 zone has now been defined over 400m down plunge and over 300m along a northeastern axis, though it will take more work to define the width.

The geologists also report that examination of the results of the 2023 drilling should lead to a substantial conversion of Inferred to Indicated Resources in the Resource Estimate update currently under way. They also remind us that even after so many years of exploration and drilling, Goldstorm remains open in all directions and at depth.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34558274

Oceanagold aka OGC released a PR containing a number of updates regarding their Dididpio Au/Cu mine in the Philippines. You may recall that OGC spent the year bringing Didipio back into full operation after it was shut for some months after permit problems, now resolved.

First off, OGC plans to list 20% of the shares of the subsidiary that owns Didipio on the Philippine Stock Exchange, in an offering which is expected to raise up to $150M.

The reason they are raising these funds is to pay for implementing the results of a recently completed Mine Optimization Plan, which foresees increasing both mining and milling rates while increasing ore grade and extending mine life. The details of how this is to be implemented will be defined in a 43-101 report to be released H1 2025.

OGC also reported that the Didpio P&P Reserves were down slightly from last year due to mining depletion exceeding resource conversion, but this is expected to turn into growth once proper exploration, which had been on hiatus due to the permit issues, resumes in earnest. And they also report some initial assays from both resource conversion and exploration drilling, which is already yielding positive results.

As a reminder, OGC just sold a non-core asset in New Zealand for $30M and their mining operations are profitable, so barring new initiatives they should have no need to raise any other capital for the foreseeable future.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34558322