Top-News of the week:
Brazil Resources announces spectacular gold resource estimate
A few days ago, Brazil Resources announced a new gold resource estimate for its Whistler Project in Alaska. This time for the Raintree west deposit. There, the company now estimates 1.991 Moz gold equivalent comprised of 1.428 Moz gold equivalent (51.76 Mt grading 0.68 g/t gold, 3.74 g/t silver, 0.10 % copper or 0.86 g/t gold equivalent at a 0.6 g/t gold equivalent cut-off) below the 100 metre elevation (Zone A) and 0.563 Moz gold equivalent (31.68 Mt grading 0.40 g/t gold, 5.39 g/t silver, 0.06 % copper or 0.55 g/t gold equivalent at a 0.3 g/t gold equivalent cut-off) above the 250 metre elevation. The combined resource for the three deposits Raintree West, Whistler and Island Mountain is 2.797 Moz gold equivalent in the indicated category (110.28 Mt grading 0.50 g/t gold, 1.72 g/t silver, 0.14 % copper or 0.79 g/t gold equivalent) and 6.731 Moz gold equivalent (311.26 Mt grading 0.47 g/t gold, 2.26 g/t silver, 0.11 % copper or 0.68 g/t gold equivalent) in the inferred category.
We think: 9.5 million ounces of gold equivalent is a huge number and cannot be ignored by the majors furthermore!
Video: Brazil Resources company presentation
News: Brazil - Resource update
Market Watch:
Precious Metals under pressure after publishment of FED protocol
Gold and Silver started their long awaited consolidation last week. The main reason for this was the recent FED protocol which has been published last Wednesday. It suggests that the next raising of the federal funds rate may happen in June. The most members of the Federal Open Market Committee seem to favor the raising of the federal funds rate, if the economy and the employee market should recover and the inflation rate should move to around two per cent. Even though we do not think that a federal funds rate raising is practicable, the recent FED protocol suggests that this scenario will happen in June. A raising federal funds rate works negative for the non-interest-bearing precious metals, which caused in massive losses for gold and silver on Wednesday and Thursday. Similarly the precious metals stocks of the HUI and the XAU had losses of 10% and more. Although the precious metals tried to recover on Friday, there has to be payed attention until Janet Yellens next speech on June, the 6th. Also important will be the next employee rates for May on June, the 3rd. Even though we suppose that another interest raising is marginal and that the interest rates will rather sink into the negative area, please notice, that nobody ever made losses by realizing some gainings.
Company News:
TerraX Minerals intercepts long mineralization!
In the last week we announced that TerraX Minerals found a new gold zone at Homer Lake on the Yellowknife City Gold Project. There, the company intersected amongst others 15.91 m @ 1.78 g/t Au, 14.9 g/t Ag, including 2.70 m @ 5.51 g/t Au, 53.6 g/t Ag. A few days earlier, the company announced that it intercepted 40.85 m @ 1.03 g/t Au, including 20.90 m @ 1.56 g/t Au in the Sam Otto West Zone. Overall the Sam Otto drilling results indicate a large mineralizing system that TerraX believes has the potential to host large high grade zones along a gold trend that has been identified by trenching, mapping, historical drilling and geophysics for at least 1.5 kilometers of strike length. The obvious increase in grade and width of zones of mineralization towards the north, and the potential to demonstrate continuity of mineralization along strike has resulted in a decision to do more work on the Sam Otto target. We think this could lead to more excellent drill results from Yellowknife City.
Furthermore the company announced more earnings from a recent financing. Therefore the company has closed the final tranche of a private placement of non-flow-through common shares for gross proceeds of 1.021,400 CA$, increasing the aggregate gross proceeds raised in this placement from the 1,680,000 CA$ originally announced to 2,112,250 CA$.
News: TXR drill results Hebert Brent
News: TXR closing PP
Video: TerraX company presentation
Fission Uranium: Expansion of the mega-trend!
Fission Uranium recently announced assay results which indicate the possibility to connect the zones and expand the 2.58 km long mega-trend. As the company announced, the final 9 drill holes from the winter 2016 drill program confirmed further high-grade mineralization expanding the western strike extent at its R840W zone and the eastern extent of the R780E zone at its PLS property in Canada's Athabasca Basin region. In addition, mineralization in hole PLS16-472 (line 435W) has been confirmed by assays which confirms the potential to find further mineralization between the R600W zone and the R00E zone. These holes highlight the potential of growth within the 2.58km long strike length of the Patterson Lake Corridor trend and the potential to expand this strike length. In total this means nothing else as that the 2.58 km mineralized trend is recognized as one of the largest footprints in the Athabasca Basin region and that recent results show, that this trend is still open.
News: Fission to connect zones
Video: Fission company presentation
Treasury Metals generates 4 million CA$!
Last week, Treasury Metals announced that it generated 4 million CA$ in total by issuing 8.5 million new shares. The net proceeds of the offering will be used to fund technical programs and mine permitting of the Company's Goliath Gold Project and for working capital and general corporate purposes.
News: Treasury closes 4 Mio CAD financing
Video: TML company presentation
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