|Stock of the week: Maple Gold Mines
Maple Gold Mines with top-class drill results!
Maple Gold Mines recently announced top-class drill results! DO-18-216 intersected 52m grading 3.53 g/t Au, within a broader, 158.2m interval grading 1.25 g/t Au from 335m downhole the south-central part of the Porphyry Zone. These results also include 21m grading 7.87 g/t Au and a very high-grade intercept of 1.5m with 86.19 g/t Au.
Drill-hole DO-18-203, collared 439m to the SE of DO-18-216, targeted the down-dip and down-plunge extension of Porphyry Zone mineralization and cut 19.0m of 0.88 g/t Au.
This interval appears to represent one of the 5th best intervals in the entire 760+ drill-hole database and the best intercept reported from the Porphyry Zone to-date, with only a fraction (~25%) of the assays received to-date, and one that indicates this particular zone widens and may extend beyond the currently-defined zone with higher grades.
News: Maple Gold reports drill results from central Porphyry Zone at Douay: 158.2m @ 1.25 g/t Au, including 52 metres @ 3.53 g/t Au
Video: Maple Gold Mines: Exploring New Step-Out Target "Syenite Zone"
Uranium stocks start running – could this be the trigger for the whole sector?
It was a little bit surprising that the major uranium stocks – first of all Cameco – started running last week, with jumps of more than 10% within only two days. Winners were – among others – north American and especially US stocks like Uranium Energy, Energy Fuels and Laramide Resources. This all without any important news on production cuts (as been seen several times within the last few months) or import- and export-restrictions, like some US companies would like to achieve and Russia would like to terminate. Also, the uranium spot price made no move upwards. Altogether, such a jump in uranium stock prices perplexes. Is there some early money coming back into the uranium sector? Especially Cameco, but also Uranium Energy and Energy Fuels showed some rising volumes, exactly the companies, which are able to produce or come back into production in a short time. There is some noise below the surface – maybe a first sign for a bigger volcanic event?!
Auryn Resources stakes substantial land position
GoldMining acquires additional gold claims
A couple of days ago, Auryn Resources announced, that it has staked a substantial land position in the Andahuaylas-Yauri belt in southern Peru. This area hosts significant large-scale porphyry and skarn deposits such as the Las Bambas, Tintaya, Antapaccay, Cotabambas, Los Chancas, and Constancia deposits, as well as Auryn’s undrilled Sombrero project.
Approximately 60,000 hectares has been applied for 75 kilometers to the southeast of Auryn’s Sombrero project, establishing the Company as a dominant player within the region.
News: Auryn Expands Sombrero District
Video: Auryn Resources – Successful Gold Exploration In Canada & Peru
GoldMining appoints acquisition specialist
GoldMining Inc. recently announced, that it has entered into an agreement with an arm's length vendor to indirectly acquire the Narrow Lake property. The Property includes the N1 and N2 claims, which cover a total area of 618 hectares and are contiguous with the southern boundary of the Company's Nicholas Lake-Ormsby property, one of the four properties that comprise the Yellowknife Gold Project.
With this latest acquisition, the YGP will have an expanded total area of 12,120 hectares upon closing.
News: GoldMining to Acquire Additional Gold Claims Contiguous with its Yellowknife Gold Project
Aurania Resources: new discovery and soil sample results
Furthermore, GoldMining announced the appointment of Dr. Ken Wang to its advisory board.
Dr. Wang is a former Managing Director and the Head of Natural Resources for both Royal Bank of Canada's Asia Investment Banking and Bank of China's Global Investment Banking operations based out of Hong Kong and Beijing.
Over the past 20 years, Dr. Wang has been at the forefront of the global mining industry, intimately involved in the successful completion of more than $100 billion of investment banking transactions in mining and other sectors. Kenꞌs global landmark transaction of the time included Glencore PLCꞌs IPO on the London and Hong Kong Stock Exchanges raising US$10 billion.
Other notable transactions in the gold sector included China National Gold Corporationꞌs buyout of Ivanhoe Mines Ltd.'s controlling interest in Jinshan Gold Mines Inc. for C$220 million, Hunan Gold Corporation Limitedꞌs buyout of Silk Road Resources Ltd.ꞌs joint venture interest in China for RMB200 million, China Gold International Resources Corp.'s IPO on the Hong Kong Stock Exchange raising US$310 million and MMG Limitedꞌs placement on the Hong Kong Stock Exchange raising US$500 million.
An absolute acquisition specialist at GoldMining? – Are they working on an acquisition?
News: GoldMining Announces Appointment of Dr. Ken Wang to Advisory Board
Copper Mountain Mining gains gross quarterly profit
Aurania Resources recently reported, that reconnaissance exploration crews have found silica blocks indicative of an entirely new epithermal system, the “Charip” target, some 50 kilometers (30 miles) north of the Latorre area in its Lost Cities – Cutucu Project in southeastern Ecuador. In addition, the Company has received soil geochemistry results that refine the Crunchy Hill target and move it a step closer to drill-testing.
Furthermore, results have recently been received from soil samples that were collected over a regular grid on the recently discovered Crunchy Hill target area, identified by vuggy silica in outcrop. The soil sample analytical results identify metal enrichment that effectively refines the size and shape of this target. Based on this, we estimate that the target could cover an area of 400 meters by 100-200 meters.
News: Aurania Finds a New Epithermal Target and Reports on Soil Sample Results From Crunchy Hill
Copper Mountain Mining: CEO changing
Copper Mountain Mining recently announced 2018 first quarter revenues of $78 million after pricing adjustments and treatment charges from the sale of 24.8 million pounds of copper equivalent, including 21.7 million pounds of copper, 6,500 ounces of gold, and 80,600 ounces of silver. Total cash cost for the quarter ended March 31, 2018 was US$1.90 per pound of copper sold, net of precious metals credits.
Gross profit for the quarter was $6.3 million.
News: Copper Mountain Mining Announces Q1-2018 Financial Results
EnWave sells machine to Europe
Furthermore, Copper Mountain Mining announced, that President and Chief Executive Officer James C. O’Rourke will be retiring on June 1, 2018. Mr. Gil Clausen, currently President and CEO and Director of Brio Gold Inc., will succeed Mr. O’Rourke as President and Chief Executive Officer and will also join the Company’s Board of Directors. Mr. Clausen will complete his current obligations, including the closing of the acquisition of Brio Gold Inc., prior to joining Copper Mountain. Mr. O’Rourke will remain as non-executive Chairman and Director of the Company.
Mr. Clausen is a mining executive with more than 30 years experience in the areas of management, finance, development and operations in the base and precious metals industry. Mr. Clausen served most recently as President, CEO and Director of Brio Gold Inc., since its inception in 2014 until its current acquisition by Leagold Mining Corporation.
News: Copper Mountain CEO to Retire, Appoints Mr. Gil Clausen as New President and CEO
First Cobalt expands Kerr area target
EnWave recently reported, that it has signed an Equipment Purchase Agreement with Tilray to deliver a 60kW commercial-scale Radiant Energy Vacuum (“REV™”) machine to be installed in Portugal, and that Tilray has exercised its option to expand the territory of its exclusive, sub-licenseable, royalty-bearing commercial license for the processing of medical cannabis to include the country of Portugal. The Purchase Agreement and expanded License extends the Company’s proprietary REV™ dehydration technology for drying and decontaminating cannabis beyond Canada for the first time.
EnWave plans to pursue additional global opportunities to serve the rapidly growing medical and recreational cannabis market.
News: EnWave Signs Equipment Purchase Agreement with Tilray to Deliver a Second 60kW Radiant Energy Vacuum Machine
First Cobalt now tradeable at the OTCQX
First Cobalt recently announced, that results of recent drilling have doubled the strike length of the mineralized zone in the Kerr area to over 200 meters. Further potential for mineralization exists along strike of this newly-identified mineralized zone, located south of Kerr Lake in the Cobalt North area of the Canadian Cobalt Camp. The Kerr area contains several drill targets, with the Kerr #2 target now a priority for follow up.
News: First Cobalt Doubles Length of Kerr Area Target
First Cobalt recently announced, that it has qualified to begin trading on the OTCQX® Best Market, operated by OTC Markets Group, under its existing ticker symbol “FTSSF”. The OTCQX market is reserved for established U.S. and global companies that meet the highest financial standards, follow best practice corporate governance and are sponsored by a professional third-party advisor.
This platform is offering even greater transparency and potentially increased liquidity to U.S. investors. It is therefore an important step towards increasing awareness, visibility and potentially expanding the company’s U.S. shareholder base.
News: First Cobalt Begins Trading on the OTCQX Best Market
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