Thursday 19th January 2017

Resource Clips


All posts by Greg Klein - Resource Clips

Infographic: VRIC 2017 approaches but there’s still time for free registration

January 18th, 2017
Infographic: VRIC 2017 approaches but there’s still time for free registration

Ever-popular Yukon Dan returns to AME B.C.’s Roundup, overlapping with VRIC.

You might want to be there just for the buzz—the world’s largest investor event for resource exploration returns amid revived optimism. This is the opportunity to learn from the experts, meet the companies and soak up the gossip.

There’s simply no better place to do that than Cambridge House International’s Vancouver Resource Investment Conference 2017, taking place January 22 and 23.

By fortunate design, VRIC overlaps with AME B.C.’s Roundup 2017, the Association for Mineral Exploration British Columbia’s annual conference. Roundup officially runs January 23 to 26, but pre-events include the family-friendly Discovery Day on January 22 from 10 a.m. to 2 p.m.

Roundup and VRIC take place side by side, at the Vancouver Convention Centre East and West. Follow the links for Roundup registration and VRIC registration.

 

Infographic: VRIC 2017 approaches but there’s still time for free registration

Golden Dawn Minerals advances southern B.C.’s Greenwood renaissance

January 18th, 2017

by Greg Klein | January 18, 2017

With a fresh batch of assays from underground drilling, Golden Dawn Minerals TSXV:GOM progresses towards its goal of reviving southern British Columbia’s Greenwood mining camp. Results from nine holes (one released previously) totalling 805 metres show the May Mac project’s Skomac vein mineralization continues past the former mine’s #7 level.

Some highlights show:

Hole MU16-01 (previously released)

  • 131.3 g/t silver, 2.34 g/t gold, 0.6% lead, 0.4% zinc and 0.1% copper over 2.33 metres, starting at 17.45 metres in downhole depth
  • (including 250 g/t silver, 4.96 g/t gold, 1.2% lead, 0.9% zinc and 0.2% copper over 1.1 metres)

MU16-02

  • 132 g/t silver, 0.14 g/t gold, 1.9% lead, 1.6% zinc and 0.5% copper over 0.5 metres, starting at 24.09 metres
Golden Dawn Minerals advances Greenwood renaissance in southern B.C.

Located about 500 kilometres east of Vancouver,
Golden Dawn’s Greenwood assets include a 200-tpd mill.

MU16-03

  • 21.1 g/t silver, 0.55 g/t gold and 0.1% zinc over 0.49 metres, starting at 18.38 metres

MU16-04

  • 57.5 g/t silver, 0.32 g/t gold, 0.7% lead, 1.1% zinc and 0.1% copper over 0.5 metres, starting at 17 metres

MU16-05

  • 176.5 g/t silver, 1.06 g/t gold, 3.2% lead, 1.1% zinc and 0.3% copper over 1.5 metres, starting at 32.92 metres

MU16-06

  • 173 g/t silver, 0.22 g/t gold, 2.7% lead, 2.5% zinc and 0.1% copper over 0.76 metres, starting at 69.28 metres

MU16-07

  • 105 g/t silver, 0.15 g/t gold, 3.7% lead and 0.3% zinc over 0.44 metres, starting at 23.4 metres

MU16-08

  • 84.8 g/t silver, 0.2 g/t gold, 0.6% lead and 0.1% zinc over 0.43 metres, starting at 34.57 metres

MU16-09

  • 151 g/t silver, 2.97 g/t gold, 0.9% lead, 0.7% zinc and 0.1% copper over 0.48 metres, starting at 53.3 metres

  • 152 g/t silver, 0.4 g/t gold, 4.5% lead, 1.7% zinc and 0.1% copper over 0.4 metres, starting at 58.54 metres

True widths weren’t available.

These results follow assays released in December from May Mac as well as the 16,000-hectare Greenwood project’s Amigo, Glory Hole and Sylvester K former mines. But the January 17 announcement revised one December hole, a surface stepout labelled BF16-26. The hole “not only demonstrates the northwest strike extension, but also extends the vein to 13 metres below the #7 adit level,” the company stated. “It indicates that mineralization similar to that historically mined from the upper levels of the mine is present down to the #7 level, and that the mineralization continues along strike and is open to the northwest. Further surface drill testing will test the extent of the mineralized zone.”

Meanwhile May Mac has underground drilling scheduled to resume by January 21. The company also has permitting underway to extend the #7 drift northwest and extract a bulk sample of up to 10,000 tonnes. The material would be processed at Golden Dawn’s Greenwood mill, 15 kilometres southeast of May Mac.

Pending a dewatering permit and the dewatering process, production would resume at Greenwood’s Lexington gold-copper mine, which has been on care and maintenance since 2008. The project has measured and indicated resources calculated last year that total 96,300 gold-equivalent ounces. Golden Dawn has also submitted a work application to drill its Golden Crown property, which has a 2016 resource showing 62,500 gold-equivalent ounces indicated and 13,100 ounces inferred.

The company stands to gain a $5.2-million advance payment from a purchase agreement announced earlier this month for gold that would be produced at Lexington and Golden Crown. The money would be used to repay a bridge loan, for working capital and to complete the acquisition of Kettle River Resources and its 12,000 hectares hosting 30 former mines. Golden Dawn expects to complete a 43-101 technical report on the property this month.

Read more about Golden Dawn Minerals.

Pistol Bay Mining updates exploration plans for Ontario VMS-style mineralization

January 18th, 2017

by Greg Klein | January 18, 2017

Holding the largest property package in Ontario’s Confederation Lake greenstone belt, Pistol Bay Mining TSXV:PST intends to take a regional and multi-disciplinary approach to turf that has previously seen relatively piecemeal work. With that in mind, the company updated its exploration plans on January 18.

Pistol Bay Mining updates exploration plans for Ontario VMS-style mineralization

Nearly complete is an extensive review of records that include historic data from approximately 850 holes sunk between 1962 and 2007. Although the entire belt has undergone at least a few geophysical surveys, Pistol Bay plans more electromagnetics. The primary method of exploration will be VTEM Plus, with its ability to reach far greater depths than was possible 20 years ago.

Another legacy of the Confederation Lake acquisitions is a database of rock chemical analysis, mostly compiled by Noranda from 1987 to 2003. “It appears that Noranda did not make a great deal of use of the data, perhaps because of changing priorities and budgets,” Pistol Bay stated. The info could help define areas of hydrothermal alteration related to the VMS mineralizing process, aid lithological mapping and locate areas enriched in zinc and/or copper. Very preliminary study has outlined five areas suggesting intense hydrothermal alteration, one of them 3.5 kilometres long.

Characteristic of some of the past work, the project area had previously been mapped by different companies with different levels of detail, according to Pistol Bay. “There is room for substantial improvement in mapping detail and the reconstruction of the submarine volcanic history and the tectonic framework of the belt.”

It’s obviously a very well-mineralized belt and if we are smart and if we try harder we’ll maximize our chances of making Canada’s next base metal VMS discovery.—Charles Desjardins,
Pistol Bay Mining CEO

With closing of a four-year option on AurCrest Gold’s (TSXV:AGO) regional holdings, Pistol Bay’s Confed Lake package will comprise 7,050 hectares along a 43-kilometre stretch of the 60-kilometre-long greenstone belt. The company also stated it has preliminary negotiations underway to potentially acquire four more blocks of claims with significant mineral occurrences or exploration targets.

“The Confederation Lake project has experienced 50 years of exploration by well-funded companies using the best technologies that were available at the time,” pointed out CEO Charles Desjardins. “Exploring deeper using the latest geophysics is one obvious advantage that we have, but we must also use every other tool at our disposal. It’s obviously a very well-mineralized belt and if we are smart and if we try harder we’ll maximize our chances of making Canada’s next base metal VMS discovery.”

Additionally, Pistol Bay plans to file a 43-101 technical report on Confederation Lake’s Arrow zone by mid-March.

In late December the company closed the first tranche of a financing totalling $201,850.

Read more about Pistol Bay Mining.

Rockcliff Copper reports 5.9% copper-equivalent over 5.6 metres, expands Manitoba drill program

January 18th, 2017

by Greg Klein | January 18, 2017

Rockcliff Copper reports 5.9% copper-equivalent over 5.6 metres, expands Manitoba drill program

Buoyed by new assays from Phase II drilling, Rockcliff Copper TSXV:RCU has increased its Talbot drill program from 6,000 metres to 7,500 metres. The company holds a 51% option on the polymetallic copper project, part of its 45,000-hectare Snow Lake holdings in Manitoba’s Flin Flon-Snow Lake mining region.

Talbot’s latest results, from hole TB-016, show:

  • 2.64% copper, 2.94 g/t gold, 1.67% zinc and 23 g/t silver for 5.9% copper-equivalent over 5.63 metres, starting at 849.38 metres in downhole depth
  • (including 4.61% copper, 5.08 g/t gold, 2.09% zinc and 39.12 g/t silver for 9.9% copper-equivalent over 2.8 metres)

  • 0.64% copper, 0.24 g/t gold, 1.04% zinc and 5.6 g/t silver for 1.4% copper-equivalent over 3.39 metres, starting at 865.77 metres

Earlier this month Rockcliff reported assays from hole TB-012:

  • 1.2% copper, 0.92 g/t gold, 0.24% zinc and 10.2 g/t silver for 2.1% copper-equivalent over 12.57 metres, starting at 840.62 metres
  • (including 2% copper, 1.94 g/t gold, 0.32% zinc and 20.03 g/t silver for 3.9% copper-equivalent over 5.3 metres)

True widths weren’t provided.

TB-012 confirmed “continuity of the main lens in an area void of drilling along the deposit’s north boundary of the main lens,” the company stated.

A January 2016 resource estimate for three deposits at Talbot showed an inferred category totalling:

  • 2.17 million tonnes averaging 2.8% copper, 2.4 g/t gold, 2.2% zinc and 54.6 g/t silver for 133.6 million pounds copper, 165,400 ounces gold, 107.4 million pounds zinc and 3.81 million ounces silver

Rockcliff describes Talbot as “similar to that of present and past-producing base metal deposits of bi-modal volcanoclastic rocks in the Flin Flon-Snow Lake greenstone belt.”

With mineralization open in all directions, the program will “focus on resource expansion of the deposit as well as drill-testing geophysical plates/anomalies recently discovered from the resurveying of historic drill holes,” said president/CEO Ken Lapierre. The property has year-round road access.

Last week Rockcliff released grab samples grading up to 25 g/t and 34.77 g/t gold from the Snow Lake project’s Laguna site, which has state-of-the-art airborne magnetics planned. The company’s other Snow Lake assets include a 100% interest in the Rail deposit, with an indicated resource of 822,000 tonnes averaging 3.9% copper-equivalent, and non-43-101, historic estimates for four other deposits.

Rockcliff has about $2.5 million in the bank and no debt.

January 18th, 2017

Ranking the metals 2017, Part I Stockhouse
George Soros: The man behind the mayhem GoldSeek
Chinese metspar exports up, acidspar more than halves Industrial Minerals
A year in review: 2016 Benchmark Mineral Intelligence
Lithium in 2017: Quacking ducks, execution and continuation of the secular bull The Disruptive Discoveries Journal
Precious metals bull market will continue in 2017, says David Morgan Streetwise Reports
Gold’s best days are yet to come SmallCapPower
Brace yourself for Italy’s bankruptcy Equities.com
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Updated: Financing, permitting, 12-fold expansion bring King’s Bay closer to Labrador copper-cobalt exploration

January 17th, 2017

by Greg Klein | January 15, 2017

Update: On January 17, King’s Bay announced the expansion of its Lynx Lake property from about 2,000 hectares to approximately 24,000 hectares “to adequately cover the geological structures and geophysical signatures of interest.”

 

With a provincial permit in hand and a $938,752 private placement that closed earlier this month, King’s Bay Gold TSXV:KBG readies for airborne EM over its Lynx Lake copper-cobalt project in south-central Labrador. The survey will precede a proposed first-ever drill program for the property.

Financing, permitting bring King’s Bay closer to Labrador copper-cobalt exploration

Previous work began after construction of the Trans-Labrador Highway in 2008, which unlocked some of the region’s geology. Grab samples from a quarry on the property’s east side showed non-43-101 results up to 1.39% copper, 0.94% cobalt, 0.21% nickel and 6.5 g/t silver. Other non-43-101 grab sample results from a west-side quarry ranged up to 1.03% copper, 0.566% cobalt, 0.1% nickel, 5 g/t silver, 0.36% chromium, 0.39% molybdenum and 0.23% vanadium.

Preliminary evidence of strong conductors in the area came from the province’s regional low-res magnetic surveys and a hand-held EM-16 device.

With highway and powerlines running adjacent to the property, Lynx Lake can be reached by a 1.5-hour drive from the town of Happy Valley-Goose Bay.

Cobalt, one of the energy metals essential to battery manufacture, presents especially troubling supply concerns due to the instability and human rights infractions of the metal’s largest producer, the Democratic Republic of Congo. See an infographic about cobalt’s precarious supply chain.

Arctic Star looks to B.C. for rare metals and rare earths

January 17th, 2017

by Greg Klein | January 17, 2017

A previously acquired property gets new attention as Arctic Star Exploration TSXV:ADD applies for a drill permit to search for niobium, tantalum and rare earth elements in central British Columbia.

Arctic Star looks to B.C. for rare metals and rare earths

Field work during 2010 on the 2,825-hectare CAP project found 481 to 981 parts per million niobium, 1,125 to 3,191 ppm zirconium, over 100 ppm lanthanum, over 100 ppm cerium and over 50 ppm neodymium. Two historic, non-43-101 samples returned strongly anomalous results of 0.13% and 0.1% rare earth elements, the company stated.

A circular magnetic anomaly of about three to five kilometres’ diameter could indicate a carbonatite or similar intrusion at depth, Arctic Star added. “Carbonatite-related deposits are a major host for rare metals, such as niobium and tantalum, and rare earth elements.”

Located about 80 kilometres from Prince George, CAP can be reached by logging roads during the summer and helicopter year-round.

In December the company closed a second tranche of financings totalling $1.47 million, including $300,000 of flow-through earmarked for CAP.

In November Arctic Star announced a JV with Margaret Lake Diamonds TSXV:DIA on their newly compiled Diagras property in the Northwest Territories’ diamondiferous Lac de Gras region.

January 17th, 2017

Ranking the metals 2017, Part I Stockhouse
George Soros: The man behind the mayhem GoldSeek
Chinese metspar exports up, acidspar more than halves Industrial Minerals
A year in review: 2016 Benchmark Mineral Intelligence
Lithium in 2017: Quacking ducks, execution and continuation of the secular bull The Disruptive Discoveries Journal
Precious metals bull market will continue in 2017, says David Morgan Streetwise Reports
Gold’s best days are yet to come SmallCapPower
Brace yourself for Italy’s bankruptcy Equities.com
Molybdenum: Commodity overview Geology for Investors

Rockcliff Copper releases gold samples, plans state-of-the-art airborne at former Manitoba mine

January 16th, 2017

by Greg Klein | January 16, 2017

Calling it the “first systematic, scientific exploration program on the property in over 70 years,” Rockcliff Copper TSXV:RCU has a high-resolution airborne survey planned for its Laguna gold property in central Manitoba’s Flin Flon-Snow Lake camp. Twenty-five recent grab samples from four vein systems on the former mine site brought grades ranging from 0.01 grams per tonne gold up to 25 g/t and 34.77 g/t. The results indicate a trend covering over six kilometres within the 3,499-hectare property, the company stated.

Rockcliff Copper releases grab samples, plans state-of-the-art airborne for former Manitoba gold mine

A magnetic survey conducted by a state-of-the-art helicopter-style drone will allow the program to “economically fly extremely tight line spacings with high-density ground sampling distances without the need for linecutting,” Rockcliff added.

“It is now possible to resolve individual magnetic anomalies that were previously indistinguishable when surveyed using conventional ground and airborne surveys—perfect for structurally controlled gold exploration targets like that at the Laguna property.”

Located 20 kilometres from a Hudbay Minerals TSX:HBM gold mill now on care and maintenance, the Laguna project comprises part of Rockcliff’s 45,000-hectare Snow Lake portfolio. Included are 43-101 estimates for the Talbot and Rail copper-gold-zinc-silver resources, as well as historic, non-43-101 zinc deposits.

January 16th, 2017

Ranking the metals 2017, Part I Stockhouse
George Soros: The man behind the mayhem GoldSeek
Chinese metspar exports up, acidspar more than halves Industrial Minerals
A year in review: 2016 Benchmark Mineral Intelligence
Lithium in 2017: Quacking ducks, execution and continuation of the secular bull The Disruptive Discoveries Journal
Precious metals bull market will continue in 2017, says David Morgan Streetwise Reports
Gold’s best days are yet to come SmallCapPower
Brace yourself for Italy’s bankruptcy Equities.com
Molybdenum: Commodity overview Geology for Investors