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Newsletter 09 /2019

This newsletter contains news on the following topics:
Share of the week: Endeavour Silver + Gold and Silver show relative strength + Tesla wants to enter the mining business + Auryn Resources + IsoEnergy + Maple Gold Mines + Delrey Metals + Sibanye-Stillwater + Millennial Lithium + Treasury Metals + White Gold + Osisko Gold Royalties + TerraX Minerals + Ximen Mining

Top Video: Matterhorn Asset Management: Gold As Insurance For Probable Collapse Of Debt System
Share of the week: Endeavour Silver
Endeavour Silver reports up to 3,900 g/t Silver Equivalent at Guanacevi
Endeavour Silver recently reported several high-grade silver-gold intercepts in the Porvenir Centro, Porvenir Norte and Santa Cruz orebody bodies along the Santa Cruz vein drilled from late 2018 to early 2019 at the Guanaceví mine in Durango, Mexico. Highlights of drilling at the Porvenir Norte orebody included 251 grams of silver and 0.93 grams of gold per tonne (325 grams silver equivalent per tonne, calculated using an 80:1 gold to silver ratio) over a true width of 3.0 metres (9.5 ounces silver equivalent per American ton over 9.8 feet) in hole UG-61. Highlights of drilling at the Santa Cruz orebody included two intercepts in parallel veins of 2.175 grams silver and 2.93 grams gold per tonne (2,409 grams silver equivalent) over a true width of 1.0 metres (70.2 ounces silver equivalent per tonne over 3.3 feet) and 579 grams silver and 0.78 grams gold per tonne (642 grams silver equivalent per tonne) over 3.9 metres (18.7 ounces per tonne over 12.8 feet) in hole UG-75. The highest-grade intercept returned 3,903 grams of silver equivalent per tonne.
Once again, Endeavour Silver has demonstrated the continued resource potential of the Guanacevi property.
News: Endeavour Silver Reports High Grade Silver-Gold Drill Intersections at the Guanacevi Mine, Durango, Mexico
Video: Newsflash #94 With Endeavour Silver, Bluestone Resources & Ximen Mining

Market overview:

Gold and silver show relative strength + Tesla wants to enter the mining business

Gold and silver have shown relative strength over the past few days and have again clearly set themselves apart from the recent lows. The significant setback of 11.06.2019 could already be made up by the end of the week. The gold price is now actually heading (once again) towards the hardest and most important resistance at around US$ 1,375. Should this be overcome, price targets of over US$ 1,400 are within reach. Gold bugs even dream of the old highs over 1,900 US$. To do this, however, the US$ would have to weaken noticeably, a goal Trump would only too like to achieve. Silver has little tailwind in fundamental terms, i.e. in terms of demand, but would also move upwards in the course of a gold boom. Please note: If gold increases by 10%, a plus of 12 to 14% is normally to be expected with silver! In addition, the gold-silver ratio is now at an insanely high level with a value of over 90.

Another message reached us last week from Tesla, and it could really have it in it! Tesla could actually enter the mining business directly, as Tesla's boss Musk is slowly beginning to suffer from abdominal pain due to possible supply bottlenecks of important battery components such as lithium, cobalt, nickel and graphite. The ability of an electric car manufacturer to expand its product range depends on being able to produce a large number of batteries. And there seems to be a shortage of suitable supplies of raw materials in the coming years, especially in North America and Europe. Tesla as a producer of raw materials? admittedly, a surreal idea, which would be nothing new at Tesla.


Company news:

Auryn Resources Discovers High Grade Gold-Silver Mineralization

Auryn Resources recently announced that two additional targets have been identified on the Homestake Ridge project. These targets are approximately 10 km northeast and 3.5 km south of the previously identified high-grade resource (125,000 ounces at 6.25 g/t Au, 1 million ounces at 47.9 g/t Ag indicated in the category and 932,000 ounces at 4 g/t Au and 21.2 million ounces at 90.9 g/t Ag in the category inferred) and were identified in a 2018 regional surface exploration program using historical data from the 7,500 hectare land package. On the new northern target called Auryn Bria, rock samples returned assays of up to 11 g/t gold and 448 g/t silver. On the new southern target, Kombi, two separate priority areas were delineated in successive catchments where historical river sediment samples had anomalous gold and silver grades.
These targets are located in areas where exploration has been very limited in the past and therefore has a high potential for significant mineralisation.
News: Auryn Identifies New, Significant Gold and Silver Targets at the Homestake Ridge Project
Video: Newsflash #96 With Auryn Resources, TerraX Minerals & Treasury Metals

IsoEnergy enlarges uranium property Larocque East
Iso Energy reported a few days ago that the company, which owns 100% of the Laroque East property, has expanded. The Company added a coherent package of mineral claims totaling 4,850 hectares of the property by staking on May 28, 2019. This increases the total area of the Larocque East property to 8,371 hectares. The newly delineated land area comprises an 8 km long east-west corridor with a magnetic low that includes approximately 4 km of the electromagnetic conductors known as the Bell North Trend.
A drill campaign conducted in 2014 encountered 0.11% U3O8, among others, indicating the high potential of the newly staked area.
News: IsoEnergy Expands Larocque East Uranium Property Through Staking
Video: Newsflash #95: Sibanye-Stillwater´s Acquisition Of Lonmin & IsoEnergy Expands Larocque East Uranium Property

IsoEnergy Presents Technical Report and Plans Extensive Drilling Program
IsoEnergy also announced that it has filed a technical report from National Instrument 43-101 on its 100% owned Larocque East property containing the hurricane uranium zone. The Hurricane Zone is a new discovery of high-grade uranium mineralization in the productive eastern Athabasca Basin, Saskatchewan. The report documents all aspects of the exploration and core drilling completed to date on the Larocque East property, particularly in connection with the hurricane zone. The report includes a recommended program and budget for the next phase of work, which consists of 6,700 metres of drilling in 16 holes and is expected to cost CA$ 1,600,000. The main objective of this work is to evaluate the eastern strike extension of the hurricane zone for additional high-grade uranium mineralization in a series of aggressive 100-200 m intervals scheduled to commence later this month. Part of the drilling will also evaluate the potential for thicker and higher-grade cuts within the current drill pattern.
News: IsoEnergy Files Larocque East Uranium Property Technical Report
Video: IsoEnergy: Drilling For Uranium At Multiple Projects In Athabasca Basin

Maple Gold Mines Tracks 2.81 g/t Gold over More Than 50 Meters
Maple Gold Mines reported assay results a few days ago from a drill hole in the 531 zone drilled during the 2019 winter campaign. The results are characterized not only by their higher contents, but also by the continuity of the contents. The lower zone returned 51 m at 2.81 g/t Au including 16 m at 4.58 g/t Au and 9 m at 4.92 g/t Au (from a drill depth of 378 m). A new upper zone returned 28 metres averaging 2.55 g/t Au including 9 metres averaging 4.71 g/t Au from a drill depth of 302 metres. This is a significant extension of the weaker and more limited mineralization intersected in the opposite direction to the downfall in the adjacent hole, i.e. a new zone of contact/structure type gold mineralization similar to the higher-grade Douay West zone.
The project continues to have excellent potential to expand both zones to depth and for additional discoveries in the south where there has been sporadic drilling within a 1.8 x 0.5 km target area with favorable geology and geophysics.
News: Maple Gold cuts down-dip extension of 531 Zone with 51m averaging 2.81 g/t Au
Video: Maple Gold Mines Discovers New Zone Through One Drill Hole

Delrey Metals close to initiation of extensive drilling and exploration program
Delrey Metals recently announced a corporate update on exploration activities at the Four Corners Fe-Ti-V flagship project near Stephenville, Newfoundland and Labrador, Canada, and the wholly owned Peneece property near Port Hardy, British Columbia. During the 2019 exploration season on the Four Corners project, Delrey will drill 20 planned holes totalling 5,000 metres and dig 1,600 metres of trenches. Drilling in 2019 was designed to review infill and step-out targets necessary to advance the project to the first NI 43-101 compliant resource calculation.
Delrey Metals is now taking off, which is absolutely to be welcomed due to the recent sharp rise in iron prices.
News: Delrey Provides Corporate Update
Video: Newsflash #93 With Orsu Metals & Delrey Metals

Sibanye-Stillwater makes positive production forecast for the second half of the year
A few days ago, Sibanye-Stillwater issued a production forecast for the second half of 2019. The ramp-up of normalized production in South African gold mining operations after the end of the five-month strike is progressing steadily. The retraining of staff and the reintegration of work teams were completed and the environmental conditions in the areas of work, many of which had been dormant for months, were brought back to an appropriate level. In order to ensure that production is safely restored, production will be ramped up in a deliberate manner, with production levels expected to normalise at the beginning of the third quarter of 2019. Consequently, production projections for the second half of 2019 are expected to range from 16,000 kg to 17,000 kg (514,000 ounces to 546,000 ounces), reflecting forecasted pre-strike production levels and an implied annualized rate of approximately 34,000 kg to 35,000 kg (1,090,000 to 1,150,000 ounces). Annual production from gold mining operations (excluding DRDGOLD) for 2019 including the first and second quarters (affected by the AMCU strike) is expected to range from 24,000 kg to 25,000 kg (772,000 ounces to 804,000 ounces).
This will bring the company back to the production level it had before the strike.
News: Conclusion of S189 consultation process and 2019 SA gold operations production guidance

Millennial Lithium reaches milestone for Pastos Grandes and receives buy recommendation
Millennial Lithium recently reported the submission of the Environmental Impact Assessment (EIA) for the construction and operation of the Pastos Grandes project to the Environmental and Mining Authority of the Argentine province of Salta. The objectives of the EIA are to identify, prevent, minimize, correct and mitigate any impact on the environment or the social fabric of the Pastos Grandes project. The EIA is based on the potential production scenario of brine extraction via pump wells, solar pond evaporation and the production of up to 25,000 tons of lithium carbonate per year in a central processing plant. The Company expects to complete a feasibility study in July 2019 that will detail the economics of potential production from the Pastos Grandes project.
Furthermore, the analysts of Liberium Research published a report on Millennial Lithium with a buy recommendation and a price target of CA$ 2.20. The report was also published by the analysts of Liberium Research.
News: Millennial Lithium Announces Submission of Its Environmental Impact Assessment (EIA) for Construction and Operation of the Pastos Grandes Project
Research-Report: Liberum Research with buy recommendation for Millennial Lithium and target price 2.20 CAD

Treasury Metals completes financing
Treasury Metals recently announced that it completed two non-brokered private placements on 6 June 2019. The first private placement was units consisting of one common share of the Company and one warrant for gross proceeds of CA$ 2,134,620.96. The first private placement was in units consisting of one common share of the Company and one warrant for gross proceeds of CA$ 2,134,620.96. The first private placement was in units consisting of one common share of the Company and one warrant for gross proceeds of CA$ 2,134,620.96. The second private placement was flow-through units consisting of a flow-through common share and a half common share purchase guarantee for proceeds of CA$ 1,371,500 for total gross proceeds of CA$ 3,506,120.96 from both offers. The net proceeds from the Offering will be used to advance the Company's Goliath Gold Project and for general corporate purposes.
News: Treasury Metals Announces Closing of Equity Financing for Proceeds of $3.5 Million
Video: Newsflash #96 With Auryn Resources, TerraX Minerals & Treasury Metals

White Gold with Resource Explosion
White Gold recently announced an update to its mineral resource estimate on the Whitegold property in the Yukon, Canada.
Among the highlights are:

  • Indicated mineral resources of 1,039,600 ounces of gold within 14,330,000 tonnes at 2.26 g/t gold and inferred mineral resources of 508,700 ounces of gold within 10,696,000 tonnes at 1.48 g/t gold from the Golden Saddle ("GS") and Arc deposits, an increase of 25%.
  • 8% increase in indicated resources and 80% in inferred resources.
  • Increases in Golden Saddle due to the discovery of the GS Zone West in 2018, the expansion of the GS Zones Main and Footwall and the expansion of potential underground ounces.
  • Raises to Arc from 2018 drilling and updated geological modeling.
  • GS & Arc mineralization remains open along strike and down dip/exit. Significant ounces added with only 12,368 m drilling in 2018 on these zones.
  • GS Main contains a consistent grade core of 832,000 gold ounces grading 2.96 g/t gold in the Indicated category and 107,000 gold ounces grading 3.18 g/t gold in the Inferred category. This high-grade core contains 525,600 gold ounces grading 4.68 g/t gold in the indicated category and 81,900 gold ounces grading 4.74 g/t gold in the inferred category.

News: White Gold Corp. Increases Mineral Resource Estimate by 25% to 1,039,600 Indicated and 508,700 Inferred Ounces of Gold with 2018 Exploration on the White Gold Property, Yukon, Canada
Video: White Gold Increases Mineral Resource Estimate By 25%

Osisko Gold Royalties Grants Extension for Bridge Financing
Osisko Gold Royalties announced a few days ago that it has completed a binding bridging Term Sheet in which it will provide Stornoway Diamond Corporation with a senior secured bridging loan together with certain secured lenders and key stakeholders. Osisko owns a senior secured 9.6% diamond stream at the Renard Stornoway diamond mine and will continue to receive supplies under its stream agreement.
News: Osisko and Financial Partners Extend Bridge Financing to Stornoway to Support Strategic Process
Video: Osisko Gold Royalties & Financial Partners Extend Bridge Financing To Stornoway

TerraX Minerals Completes 2.5 Million Dollar Financing
TerraX Minerals has recently announced that it has entered into an agreement with a consortium of underwriters led by PI Financial Corp. under which the underwriters will acquire 1,390,000 common shares of the Company at a price of US$0.36 per share, 1st Quarter of 2006, based on a Bought Deal.220,000 common shares of the Company in transit at a price of US$0.41 per FT Share and 3,000,000 charitable shares of the Company at a price of US$0.50 per charitable FT Share will be acquired for gross proceeds totaling up to approximately US$2.5 million. The gross proceeds from the sale of the FT Shares and Charity FT Shares will be used for exploration expenditures under the Company's Yellowknife City Gold project in the Northwest Territories.
News: TerraX Announces $2.5 Million Financing
Video: Newsflash #96 With Auryn Resources, TerraX Minerals & Treasury Metals


Swiss Resource Capital AG and the authors of Swiss Resource Capital AG currently hold or intend to hold shares in the following companies mentioned in this issue: Endeavour Silver + Tesla Motors + Auryn Resources + IsoEnergy + Maple Gold Mines + Delrey Metals + Sibanye-Stillwater + Millennial Lithium + Treasury Metals + White Gold + Osisko Gold Royalties + TerraX Minerals.

Swiss Resource Capital AG has concluded IR consulting agreements with the following companies mentioned in this issue: Endeavour Silver + Auryn Resources + IsoEnergy + Maple Gold Mines + Delrey Metals + Sibanye-Stillwater + Millennial Lithium + Treasury Metals + White Gold + Osisko Gold Royalties + TerraX Minerals.

This publication is based on Swiss Resource Capital AG's detailed risk warnings, limitations of liability and disclaimers, which can be viewed here: Risk Disclosure and Disclaimer SRC AG

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