Kootenay Silver aka KTN has been very successful drilling up the D Vein on their Columba Ag prospect in Chihuahua, Mexico, establishing long intercepts of high grade mineralization. Current drilling is focused on extending the D Vein, but now KTN has announced they are bringing in another drill.
Initially the second drill will focus on the B Vein, which has already yielded intercepts like 4.6m @ 1,186 g/t Ag and 2.0m @ 1,050 g/t Ag from 212 meters downhole. (True widths for both intercepts are estimated at 60-75% of core length.) This drill will work towards where the D and B Veins intersect, an area expected to deliver strong mineralization.
This drill will then move on to explore other veins on the property, and along with another 20km of drilling planned for H2, will feed into a Resource Estimate for Columba expected before the end of the year.
Nevada gold miner i-80 Gold aka IAU has been quiet of late, perhaps shocked by the decline in their share price to its lowest ever since the company was listed. Today, we hear some positive news about metallurgical testing of the various CRD deposits on their Ruby Hill and Golden Hill projects, some more dominated by lead and zinc, other higher in gold, some sulphide, some oxide, some mixed.
In spite of this variety, the testing was able to achieve high recoveries using a variety of flotation and cyanidation techniques, though more testing will be required to achieve a proper flowsheet for each deposit.
At the end of the PR, IAu drops a tidbit that it has been carrying out similar metallurgical testing with similar results as part of the due diligence aimed at establishing a proposed JV for the Ruby Hill property. They remain coy about who they are talking to, but tell us that negotiations are ongoing.
Meanwhile, the share price slide continues. It started with some over generous PPs, but the main factor appears to be EQX selling a large holding of IAU shares regardless of what it does to the share price. Equinox Gold has been very focused on raising funds of late, but eventually they will run out of IAU shares to sell and one assumes, the share price will start to recover. I do hopes it happens well before tax loss selling season can bring more downward pressure on IAU's share price.
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