West African Resources: 18m grading 82.3g/t Au!!!
Sensational drill results from West African Resource’s gold project Tanlouka! As the company announced it intercepted some 18m grading 82.3g/t Au at its Tanlouka project in Burkina Faso. Within this was a 1m intersection averaging 1,107g/t Au. A further high-grade zone intercepted 3m of mineralization at 145.99g/t Au. The project is focused on building a case for an open pit mine at Tanlouka, but deeper drilling targeting underground potential is also slated to take place as part of an upcoming resource update. With a maiden resource from M1, where the latest hits came from, and M3 expected within this update, investors can be confident the 2.09 million ounce resource base (at 0.5g/t Au) will get bigger. Furthermore, the company is currently working on a feasibility study.
Fission Uranium hits 7.1m of >10,000 cps and expands uranium mineralization
A couple of days ago, Fission Uranium announced results from six holes at its' award-winning PLS project. One of the new holes, all of which intersected shallow, wide mineralization, included 35.0m total composite mineralization, including 7.1m of >10,000 cps. Of key importance, wide, high-grade mineralization has been drilled at R1620E - the easternmost zone on Fission's 2.58km trend - expanding the zone 15m west towards the Triple R deposit and expanding the strike length of the high-grade core to 60m. For us, this is another important step towards an acquisition by one of the big uranium players.
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Newsflash # 43 with Altona and Fission
Altona Mining: Amended Environmental Authority is a big milestone for the SRIG joint venture
Within the last week, Altona Mining announced, that it has received an Amended Environmental Authority from the Queensland Department of Environment and Heritage Protection for the Company’s Cloncurry Copper Project near Mt Isa in Queensland. The grant of the amendment is a key condition precedent to the completion of the SRIG JV. The planned Little Eva mining project sits within the Cloncurry Project. A revised mine plan layout has also been approved.
The key amendments largely flow from the discovery of the Turkey Creek deposit adjacent to planned infrastructure and incorporating that deposit into the mine plan. The changes are:
• A new open pit mine at Turkey Creek
• Waste rock storage from the Turkey Creek mine
• Increase to mine life and total tonnage treated
• Re-location and increased capacity of the Tailings Storage Facility
• A larger flood protection bund and diversion channel around the Little Eva pit to permit a larger pit
With this Authority, Altona reached a big milestone to full-fill all joint venture requirements, sooner than awaited and therefore has been able to bring the joint venture one step forward.
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AOH Cloncurry green lightForum Uranium: Start of drill program in the Athabasca Basin
Forum Uranium recently announced that it has commenced a shallow, four-hole drill program for approximately 600 meters on its 100% owned Karpinka project, located approximately 30 km southwest of Cameco's Key Lake uranium mine and mill site. The Karpinka claims lie just outside the southern edge of the Athabasca Basin where high grade, basement hosted deposits such as Fission Uranium Corp.'s Triple R deposit can be found at shallow depths. Infrastructure in the Karpinka area is excellent with targets located adjacent to the all-weather road and powerline to the Key Lake uranium process facility.
Skyharbour Resources Secures Option to Acquire 100% of Denison’s high grade Moore Lake Uranium Project
A couple of days ago, Skyharbour Resources announced the signing of an agreement with Denison Mines Corp. that grants the Company an option to acquire a 100% interest in the Moore Lake Uranium Project. The 35,705 hectare Moore Lake Project is an advanced uranium exploration property strategically located in the eastern portion of the Athabasca Basin region, which is known for its large scale and high grade uranium deposits and producing uranium mines. Moore Lake hosts a high grade uranium pod called the Maverick Zone. Drill results include 4.03% eU3O8 over 10 metres, including 20% eU3O8 over 1.4 metres, plus 5.14% U3O8 over 6.2 metres and 4.01% U3O8 over 4.7 metres. The property has been subject of extensive exploration with approx. $30 million in expenditures and over 132,000 metres of diamond drilling in 370 drill holes. Skyharbour has the option to earn 100% of Moore Lake for less than $10 million in shares, cash and exploration payments.
Newmarket Gold: Record quarterly consolidated gold production!
A couple of days ago, Newmarket Gold announced production results for the three and six months ended June 30, 2016. The company registered a record quarterly consolidated gold production of 61,191 ounces, up 9%, from Q2 2015 with H1 2016 consolidated gold production of 119,248 ounces on track to exceed full year production guidance (205,000 - 220,000 ounces). Furthermore, the Maud Creek Gold Project Preliminary Economic Assessment delivered strong results including a Pre-tax NPV5% of AUD$201 million (US$155 million) and IRR of 116% and a 1.25-year payback period at AUD$1,550/oz gold (US$1,200/oz). Newmarket Gold had a cash balance of $69.9 million as of June 30, 2016, representing an increase of 34% or $17.8 million from $52.1 million as at March 31, 2016, after investing approximately $3.6 million in growth expenditures during the quarter.
Integra Gold: 21.4m grading 12.58g/t Au at Lamaque South!
Integra Gold recently announced the final tranche of assay results from the 2015-2016 infill drill program at the Lamaque South project in Quebec, Canada. The highlights from the last batch of assays include a 21.4m intercept grading 12.58g/t Au, 14.4m averaging 7.37g/t Au and 14.3m at 7.22g/t Au. Targeting the No. 4 Plug area, 500m north of the Triangle deposit where 1.5 million ounces of high-grade resources have been defined, the drill program should be enough to result in a favorable resource update by the end of the year. The question is now: Bulk mining or narrow vein mining like at Triangle. A positive dilemma for the company.
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