Thursday 8th December 2016

Resource Clips


North ROK euphoria fizzles

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A $20,000 purchase of the 654-hectare Railway property announced May 31 places Granite Creek Gold TSXV:GCX 11 kilometres northeast of North ROK. The previous day Romios Gold Resources TSXV:RG announced acquisition of another 2,900 hectares “in the vicinity” of Red Chris, bringing its northwestern B.C. land package up to 80,000 hectares.

Following Ashburton Ventures’ TSXV:ABR early May acquisitions totalling 1,500 hectares adjacent to and contiguous with North ROK, the company reported on May 28 it staked 852 hectares contiguous with the Hat copper-gold project being drilled by Doubleview Capital TSXV:DBV roughly 115 kilometres northeast. Ashburton has since applied for permits to drill the Zetu and Nerok claims near North ROK.

West Cirque Resources TSXV:WCQ on May 22 announced a follow-up program for its Castle copper-gold property 15 kilometres west of North ROK and 25 kilometres northwest of Red Chris. The project has undergone historic drilling and, last year, an IP survey. Under a deal signed in March, Freeport-McMoRan may earn an initial 51% interest in Castle and two other northwestern B.C. properties held by West Cirque by funding a total of $8 million over four years. West Cirque wholly owns 431 hectares at Castle, while another 603 hectares have been optioned by Bearclaw Capital TSXV:BRL.

On May 17 Revolver Resources TSXV:RZ revealed its 60% option of Pistol Bay Mining’s TSXV:PST Summit B property, 1,394 hectares contiguous with North ROK. Firesteel Resources TSXV:FTR announced a tentative agreement on May 14 to option 70% of its ROK Coyote property, “right in the heart of the recent activity” at North ROK and Red Chris, to ASX-listed OZ Minerals. Firesteel’s Copper Creek, another porphyry copper-gold property closer to Doubleview’s Hat project, is the object of a May 6 letter of intent in which Prosper Gold TSXV:PGX.H would acquire an 80% interest. Pending a definitive agreement, the deal would give the capital pool company its TSXV qualifying transaction.

A May 9 release from TAD Mineral Exploration TSXV:TJ stated it had increased its regional land package by about 926 hectares in addition to an 876-hectare copper-gold prospect the company picked up a few days earlier.

Redhill Resources TSXV:RHR optioned an initial 50% of Yellow Chris South from Teuton Resources TSXV:TUO on May 6, leaving Teuton with about 10,256 hectares remaining in the region.

Serengeti Resources TSXV:SIR reported on May 1 it staked the 5,675-hectare Red Chris North property about 10 kilometres north of the North ROK discovery.

Contiguous to Red Chris, meanwhile, graphite explorer Canada Carbon TSXV:CCB holds the 5,260-hectare Red Chris South copper-gold prospect.

Still to come from Colorado are assays from its current 1,500-metre drill program at Eldorado, about eight kilometres northeast of Red Chris. Colorado holds a 75% option on the 3,278-hectare property from Sunrise Resources TSXV:SHI.

Read more about the North ROK-Red Chris area play.

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