As you would expect from its name, so far Hemlo Explorers aka HMLO, which recently moved from the TSXV to CSNX, has been focused on Ontario, specifically Au and PGM prospects in the Hemlo area.
Now they are expanding their focus by staking 38 sq km of claims bordering the south end of NFG's Queensway property in Newfoundland. NFG's discoveries have ignited a bit of a gold rush in that part of Newfoundland, and apparently HMLO's geologists think the land they have staked holds similar geological structures to those that host the mineralization on Queensway.
At this point HMLO says their priority with this acquisition is to selectively acquire more properties in the area and then begin to plan and raise money for an exploration programme.
The Fletcher zone in Australian gold/nickel miner Karora Resources aka KRR's Beta Hunt mine continues to be the gift that keeps on giving. With the release of Stage 2 drilling results, the strike length of Fletcher has been extended to over 800m, with the highlight drill result being 17.3 g/t over 14.5m including 35.3 g/t over 6.0m, 5.3 g/t over 10.0m, and 3.5 g/t over 12.0m. Along with the other strong drill results from Stage 2, these intersections will make a substantial contribution when Fletcher's initial Resource Report is generated after more drilling.
The potential strike length of Fletcher, fault to fault, is over 2.2 KM, so next up is Stage 3 drilling, which will attempt to connect the results from Stage 2 drilling across the 300m, so far undrilled, to the original Fletcher discovery hole. And it's not just the length of Fletcher; KRR has also started to discover parallel zones of mineralization that widen the ore body, and expect to find more as exploration proceeds. Hence, KRR is now mentioning that Fletcher has the potential to become Beta Hunt's largest gold system.
For those worried about the new Mexican president Claudia Sheinbaum's impact on the Mexican mining industry, the knowledgeable IKN newsletter devoted a number of pages to laying waste to the coverage of her election by the uninformed mainstream English language media to the north. I can't share the details, but IKN starts by pointing out that Mexico is like Chile or Peru, with a long established mining culture that is important to the national economy and vital to a number of states, and therefore no Mexican government can actually be anti-mining. IKN then refers to Claudia Sheinbaum's manifesto on mining -- which the English language media clearly did not, even bother to read -- which does say that there will be no NEW concessions for open pit mining and which calls for prior consultancy with locals, but also says that open pit permits will resume being issued as long as the locals are onside. I will add that she has repeatedly stressed the importance of copper mining to help with the energy transition.
So ignore the ill-informed English language media and read the manifesto yourself. Claudia Sheinbaum is a successful and pragmatic politician received by far won the largest number of votes ever for any Mexican presidential candidate ever, and IMO she won't let ideology get in the way of her decision-making.
Saville opines that gold has likely not completed its correction, but he expects it to test the support set in May to complete the correction within about a week.
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