Top-News of the week:
Fission Uranium intersects top-results, finds new area and connects important zones
Fission Uranium recently announced results from the summer drill program for the final 11 exploration drill holes (7 core holes and 4 Reverse Circulation (RC) holes) at its PLS property, host to the Triple R deposit, in Canada's Athabasca Basin region. Three results are of particular importance:
- Approximately 600m west on strike from the R840W zone, exploration hole PLS16-490 (1665W) returned anomalous pathfinder geochemistry including uranium (up to 115 ppm) and boron up to 115 ppm and 775 ppm respectively.
- Step out drilling 30m west of the R840W zone, RC hole PLCRC16-010 encountered anomalous radioactivity in rock chips, corresponding to a peak of 9,308 cps in down-hole gamma probe.
- Probing deeper below the R780E zone, exploration hole PLS16-503 intersected anomalous radioactivity representing the deepest mineralization on the Triple R zone to date and potentially opening up an entirely new area.
According to this, drilling has successfully merged the R600W and R840W zones. The new high-grade, shallow and land-based R840W zone has a strike length of 465m and is 495m west of the R00E zone of the Triple R deposit. In addition, drilling on the western region of the R840W zone has expanded mineralization a further 60m to the west from this past winter - increasing the strike length of the mineralized Patterson Lake trend at PLS to 2.63km
The company considers all three discoveries a high priority for follow up.
News: FCU top drill results - opens new area
Market Watch:
Fed with another nonsense statement – Gold and Silver on consolidation
It is rather not worth to be named, but for the sake of completeness we want to recap the most important perception from Fed-boss Janet Yellen’s speech at last week’s meeting of central bankers in Jackson Hole /Wyoming: No news! Yellen once more fooled investors with blank phrases and hollow words. No federal funds raising in September, maybe one in December, or maybe not. It is the same game as the years before: No space for raising the federal funds rates, instead of that always the same stalling tactics. Gold and Silver weren’t influenced by this speech. Both metals lost some ground already prior to this, but were able to hold important chart technical marks on Friday. The most important gold indices HUI and XAU also saw significant losses and broke down the upwards trend channel, which started at the beginning of this year. Fear has got the baton from greed, what means, that there will be a couple of good rebuy chances in the coming weeks.
Company News:
Advantage Lithium closes 4-million-dollar financing
A couple of days ago, Advantage Lithium announced, that the Company has completed its non-brokered private placement financing by issuing 16,100,000 common shares of the Company, at a price of 0.25 CA$ per share, for gross proceeds of 4,025,000 CA$. The net proceeds from this financing will be used for working capital to allow the Company to fund anticipated corporate overheads, initial acquisition costs, tenure payments and all initial work programs for the lithium brine projects in Nevada.
Background: On June, the 20 th 2016 Advantage Lithium (under its former name North South Petroleum Corp.) signed a letter of intent with Nevada Sunrise for an option to acquire the Nevada water rights permit 44411 and five projects in the Clayton Valley and Lida Valley region. According to this letter of intent, Advantage Lithium now has the option to acquire 50 to 70% of these projects in two steps. More information to come.
News: Advantage closes 4 Mio $ PP
TerraX Minerals closes final tranche of 7.5-million-dollar financing and brings another drill-rig online
TerraX Minerals recently announced that it has closed the final tranche of a non-brokered private placement of 17,500,000 flow-through shares at 0.40 CA$ per share with the issuance of a further 8,095,154 shares at 0.40 CA$ per share for gross proceeds of 3,238,061.60 CA$, increasing the total raised in this financing to 7.5 Million CA$. With completion of this financing, TerraX has cash on hand in excess of 11.7 Million CA$ which will be more than adequate to fund the 27,000-meter drill program and extensive field exploration programs currently underway on our wholly owned Yellowknife City gold project in the Northwest Territories. Drilling commenced on July 27th and is continuing at the Mispickel discovery, where TerraX intercepted 8.00 m @ 60.60 g/t Au during its winter drill program earlier this year.
Furthermore, the company announced that it brought a second drill-rig online. The first drill remains focused on expanding Mispickel mineralized zones while the second drill will be drilling aggressive step-out holes along other sub-parallel mineralized structures at Mispickel identified by surface mapping and sampling.
News: TXR with 7.5 Mio $ PP closed
Cyprium Mining intersects high-grade Zink again
A few days ago, Cyprium Mining announced the results from additional underground samples taken from an oxidized zinc body on level 14 as part of its ongoing exploration program of the Potosi silver mine located in the historic Santa Eulalia, Mexico. The thirty-six samples were taken from two historic stopes on level 14 of the Santo Domingo body, and averaged 30.2% Zn over an average sample width of 3.00 m. Efforts are underway to determine the volume and grades of remaining sulfide material as part of a NI 43-101 resource calculation planned by the end of the year.
News: CUG again +30% Zinc
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