Value Microcaps Junior Miners

[Lone Clone]

SNAG, KDK, ODV, WM, MAI

After a period where they expanded to other metals and jurisdictions, last year this company changed their name from Alianza Minign to Silver North Resources aka SNAG and changed their focus back to their silver prospects in Yukon Territory. Now we get a first look at what this re-focus really means with a NR detailing their plans for 2024.

The review starts off by telling us they are actively trying to sell most of the properties they accumulated, or are just letting the leases lapse. Apparently they are still looking for partners to advance of few of the gold and copper prospects in Colorado, but otherwise are focused on the Tim and Haldane silver prospects in Yukon.

Haldane is located in the Keno Hill district, which has been booming ever since Hecla bought the Keno Hill mining complex. Haldane is located 25 km from that mine and the properties share a boundary, so clearly SNAG hopes to eventually sell out to or work with Hecla on the property. In the meantime, they have designed a six hole drill programme to test several recent discoveries, and also expect to carry outgeophysics and trenching on other prospects on Haldane.

The Tim property is located further south in the Silvertip-Midway District, and is currently under option to Coeur, who run the Silvertip mine located less than 20 km south of Tim. Previous exploration has revealed the potential for the property to host Ag/Pb/Zn CRD deposits similar to those being mined at Silvertip. Exploration will resume in June; expect more details to be announced in the coming months.

I like the way SNAG has refocused, but only time will tell if it reaps benefits for shareholders.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34589873

Kodiak Copper aka KDK, which is exploring the MPD property in south central BC for large Cu/Au prophyries, released a NR about their adoption of AI technology to assist in exploration and drill targeting. According to KDK, so far the software has not only identified already known targets but new ones which will be followed up in due course. The use of this technology seems like a prudent move, given the sheer number of targets on MPD plus the huge volume of historical data that needs to be analyzed, but only time will tell if it is more than a passing trend.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34592647

Osisko Development aka ODV announced they have secured a $50M loan to drive a 1.2 km drift and extract a 10kt bulk sample at its Barkerville gold mine in BC. It feels like this saga has been going on since the first discovery of gold in Barkerville in 1858. Not so, but it has been almost five years since ODV acquired Barkerville Gold Mines aka BGM, which had spent over a decade and not one but two 10 for 1 share rollbacks trying to develop this mine before the acquisition by ODV.

What concerns me most about this loan is that it is supposed to be repaid in full within a year, including hefty interest, but they can't even start physical work on the drift until receiving permits, which are anticipated to arrive in Q2. This isn't Mexico or Chile, so the permits may well arrive on time, but that is still a very quick turnaround to build a drift that long plus extract and process the ore to get the money to repay the loan. The clock is ticking....

BTW, my existing notes from previous ODV NRs had the permits expected to arrive in Q1.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34592764

Quebec gold explorer/developer Wallbridge Mining aka WM announced the start of a drill programme at their Martiniere property, located near their flagship Fenelon property on the Fenelon-Detour Gold trend. The drilling will be conducted in two phases, in spring and fall, and is designed to expand and upgrade the current resource as well as to extract material and data for the combined Fenelon/Martiniere PEA, which is underway but not expected to be completed until early 2026.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34592784

Here's a link to a really informative 37 minute interview with Doug Ramshaw, CEO of Mexican gold miner/developer Minera Alamos aka MAI. Included are some good insights into the current politics of mining in Mexico.

Saville continues to expect a major upside breakout in the Pog between March and May, as soon as hopes for a soft landing fade. Meanwhile, it continues to consolidate just below the triple top.