Tuesday 23rd January 2018

Resource Clips


Posts tagged ‘copper’

Deep-penetrating geophysics to probe Belmont Resources’ Nevada lithium project

January 17th, 2018

by Greg Klein | January 17, 2018

Now being mobilized, an electromagnetic survey will help target brine aquifers on Belmont Resources’ (TSXV:BEA) Kibby Basin property. The company describes Quantec Geoscience’s Spartan AMT/MT method as “a full tensor magnetotelluric technology that acquires resistivity data in the 10 kHz to 0.001 Hz frequency band. The result is a measurement that is applicable from near-surface to potential depths of three kilometres or more.” Belmont credits Quantec with over 5,000 geophysical programs in over 50 countries.

Deep-penetrating geophysics to probe Belmont Resources’ Nevada lithium project

Two holes sunk on Kibby Basin last year brought
core samples between 70 ppm and 200 ppm lithium.

The Kibby Basin survey should take nine days, with another two weeks for an initial report.

The program follows a satellite data review and two-hole 2017 drill campaign on the 2,760-hectare Nevada property 65 kilometres north of Clayton Valley. Thirteen of 25 core samples surpassed 100 ppm lithium, “indicating that the sediments could be a potential source of lithium for the underlying aquifers,” the company stated.

A gravity survey the previous year suggested the property hosts a closed basin which the company later estimated to cover four square kilometres, extending to at least 1.5 kilometres in depth.

Last week Belmont announced its lawyers would request the annulment of a decision by the International Centre For Settlement Of Investment Disputes reported in August. The tribunal stated it had no jurisdiction in a dispute involving Belmont, EuroGas Inc and the Slovak Republic regarding Rozmin SRO’s ownership of the Gemerska Poloma talc deposit. Belmont seeks to be restored as a claimant in the arbitration proceedings.

The company also holds the Mid Corner-Johnson Croft property in New Brunswick, a prospect with some historic, non-43-101 zinc-copper-cobalt sampling results that has yet to undergo modern geophysics.

In northern Saskatchewan, Belmont and International Montoro Resources TSXV:IMT share a 50/50 stake in the Crackingstone and Orbit Lake uranium properties.

Belmont closed an oversubscribed private placement of $312,200 in December.

Read Isabel Belger’s interview with Belmont Resources CFO/director Gary Musil.

King’s Bay Resources reports initial drill results from Labrador nickel-cobalt project

January 16th, 2018

by Greg Klein | January 16, 2018

Although collared 150 metres apart, the first two holes on King’s Bay Resources’ (TSXV:KBG) Lynx Lake property both showed nickel-cobalt values above background levels over wide intervals.

King’s Bay Resources reports initial drill results from Labrador nickel-cobalt project

Lynx Lake has the Trans-Labrador Highway
bisecting the property, as well as adjacent power lines.

Hole LL-17-01 brought 0.058% nickel and 0.013% cobalt over 115.2 metres. LL-17-02 returned 0.057% nickel and 0.014% cobalt over 110.8 metres (not true widths). The thickness of the intervals and distance between the holes suggest “potential for a more localized zone of economic mineralization in the area,” the company stated. Assays for gold, platinum and palladium are expected later this month.

The initial drill campaign tested a small part of an approximately 24,200-hectare property. Under focus was the project’s West Pit, where airborne VTEM found a shallow anomaly of high resistivity measuring about 400 metres in diameter and 50 to 300 metres in depth. Historic, non-43-101 grab sample assays from the area graded 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.

Other historic, non-43-101 grab samples from the property’s east side showed up to 1.39% copper, 0.94% cobalt, 0.21% nickel and 6.5 g/t silver.

King’s Bay now plans geostatistical and structural analysis to identify more drill targets. A field crew returns later this year.

Meanwhile a 6% copper grade highlighted last month’s results from the company’s Trump Island project in northern Newfoundland. Four of 15 outcrop samples surpassed 1% copper and also showed cobalt assays up to 0.12%.

In September King’s Bay offered a $250,000 private placement that followed financings totalling $402,000 that closed the previous month.

Golden Dawn Minerals sets B.C. gold-copper trial mining for Q2

January 15th, 2018

by Greg Klein | January 15, 2018

With dewatering now complete, Golden Dawn Minerals TSXV:GOM plans to re-start a southern British Columbia past-producer within months, moving to full production in the latter half of the year. The company pronounced the former Lexington mine’s underground workings, east portal and decline to be in excellent condition, where a previous operator extracted 5,486 ounces of gold, 3,247 ounces of silver and 860,259 pounds of copper between April and December 2008.

Golden Dawn Minerals sets B.C. gold-copper trial mining for Q2

With underground workings in “excellent condition,”
Golden Dawn prepares to restart the Lexington gold-copper mine.

Service buildings have been renovated. Still on the checklist is new timber for the mine’s west portal, a new ladderway for the fresh air raise and installation of compressed air and water, along with electrical and ventilation services.

Lexington’s rehab coincides with that of the Greenwood plant, about 17 kilometres away. A 212-tpd mill that’s expandable to 400-tpd, it’s central to Golden Dawn’s 15,400-hectare portfolio of 31 historic mines, three of which the company hopes to re-start without de-risking at the feasibility level. Lexington’s remaining start-up costs are pegged at about $2 million.

While consultants now have a mine plan in progress, underground mapping and sampling are planned for later this month. The former mine has a 2016 resource with a base case cutoff of 3.5 g/t gold-equivalent:

  • measured: 58,000 tonnes averaging 6.98 g/t gold and 1.1% copper (8.63 g/t gold-equivalent) for 16,100 gold-equivalent ounces

  • indicated: 314,000 tonnes averaging 6.38 g/t gold and 1.04% copper (7.94 g/t gold-equivalent) for 80,200 gold-equivalent ounces

  • inferred: 12,000 tonnes averaging 4.42 g/t gold and 1.03% copper (5.96 g/t gold-equivalent) for 2,300 gold-equivalent ounces

Meanwhile the company awaits 14 holes of assays from the nearby Golden Crown drill program that wrapped up last month. That past-producer also hosts a 2016 resource with a 3.5 g/t gold-equivalent cutoff:

  • indicated: 163,000 tonnes averaging 11.09 g/t gold and 0.56% copper (11.93 g/t gold-equivalent) for 62,500 gold-equivalent ounces

  • inferred: 42,000 tonnes averaging 9.04 g/t gold and 0.43% copper (9.68 g/t gold-equivalent) for 13,100 gold-equivalent ounces

Further drilling is planned northwest, along a three-kilometre mineralized zone onto the JD property, from where the company reported high-grade gold samples last October.

The former May Mac silver-gold mine constitutes a third past-producing priority with another 2017 drill program.

Golden Dawn’s property package sits about 500 kilometres by highway east of Vancouver.

The company also reported a private placement that closed on $337,500 that came entirely from Quorum Capital Inc, wholly owned by Golden Dawn president Wolf Wiese.

Read more about Golden Dawn Minerals.

Kapuskasing drills near-surface Newfoundland copper in historic mining region

January 11th, 2018

by Greg Klein | January 11, 2018

The past-producing area’s first significant drill program since the 1960s supported historic reports of copper at northern Newfoundland’s Lady Pond property, Kapuskasing Gold TSXV:KAP reports. An initial eight holes totalling 780 metres focused on two parallel zones about a kilometre apart, the Twin Pond and Sterling prospects. Among the highlights were Sterling hole KSP17-03:

  • 1.54% copper over 3.56 metres, starting at 71 metres in downhole depth
  • (including 5.69% over 0.8 metres)
Kapuskasing drills near-surface Newfoundland copper in historic mining region

Also at Sterling, KSP17-04 showed:

  • 1.7% over 1.2 metres, starting at 26 metres
  • (including 12.9% over 0.13 metres)

Twin Pond’s KTP17-01 showed:

  • 0.31% over 9.04 metres, starting at 56.96 metres
  • (including 1.06% over 0.48 metres)

KTP17-02, again at Twin Pond, revealed:

  • 0.69% over 16.39 metres, starting at 35.61 metres
  • (including 1.06% over 1.33 metres)
  • (and including 0.98% over 8 metres)
  • (which included 1.48% over 3 metres)

  • 1.66% over 2 metres, starting at 63 metres
  • (including 2.28% over 1 metre)

True widths weren’t available.

The autumn campaign found significant mineralization despite inaccurate historic info. “It was not until hole KTP17-03 was collared that it became clear the historic holes were plotted approximately 50 metres away from their proper locations,” Kapuskasing noted. “Given this new information, the best grades noted historically were not duplicated during this drill program.”

Based on 1960s work, Sterling hosts an historic, non-43-101 estimate of about one million tonnes averaging 1% copper, reportedly open in all directions. Historic, non-43-101 drill results for Twin Pond have reached up to 4.2% copper over 3.35 metres, starting at 82.3 metres. Grab samples released last October graded up to 9.03% copper for Twin Pond, 7.19% copper for Sterling and 1.54% copper with cobalt and silver for the Lady Pond prospect.

Phase I left several priority targets untested on all three prospects. Now being planned is Phase II to attack the priorities and better identify the 2,450-hectare property’s high-grade zones at depth and along strike, the company added.

With logging road and ATV access, the project sits adjacent to the town of Springdale, near Newfoundland’s north coast. Rambler Mining and Metals TSXV:RAB holds a base metals mill 94 road kilometres away. Rambler also holds two historic, non-43-101 copper resources contiguously west of Lady Pond.

Two days earlier Kapuskasing announced its entry into the Gunners Cove area, where White Metal Resources TSXV:WHM and other companies are exploring a potentially unique gold-bearing geological environment. Kapuskasing’s newly staked ground lies roughly 200 kilometres southwest of the company’s Daniel’s Harbour zinc project.

In August the company closed private placements totalling $115,000, following a $201,200 placement that closed in June.

Read Isabel Belger’s interview with Kapuskasing Gold president/CEO Jon Armes.

Read Gianni Kovacevic’s comments on future copper demand.

Critical Quebec commodities

January 11th, 2018

Saville Resources moves into Commerce Resources’ niobium-tantalum target

by Greg Klein

A rare metal find on a property hosting a rare earths deposit becomes a project of its own under a new agreement between two companies. With a 75% earn-in, Saville Resources TSXV:SRE can now explore the niobium claims on Commerce Resources’ (TSXV:CCE) Eldor property in northern Quebec, where the latter company advances its Ashram rare earths deposit towards pre-feasibility.

Saville Resources moves into Commerce Resources’ niobium-tantalum target

A map illustrates the mineralized boulder
train’s progress, showing its presumed source.

Grab samples collected by Commerce on a boulder train about a kilometre from the deposit brought assays up to 5.9% Nb2O5. “That’s right off the charts,” enthuses Saville president Mike Hodge. “People in the niobium space hope for 1%—5.9% is excellent.”

He’s no newcomer to the space or even to the property. Hodge helped stake Commerce’s tantalum-niobium deposit on southern British Columbia’s Blue River property, which reached PEA in 2011.

“I did a lot of the groundwork for Commerce in the Valemount-Blue River area and I was one of the first guys on the ground at the camp that now supports Ashram,” he points out. “I’ve been involved with these two properties since 1999.” That’s part of a career including field experience on over 25 projects as well as raising money for junior explorers.

Miranna’s grab samples brought tantalum too, with a significant 1,220 ppm Ta2O5. Forty of the 65 samples graded over 0.5% Nb2O5, with 16 of them surpassing 1%.

The company describes the sampling area as a “strongly mineralized boulder train with a distinct geophysical anomaly at its apex.”

The 980-hectare Eldor Niobium claims have also undergone drilling on the Northwest and Southeast zones, where some wide intervals gave up 0.46% Nb2O5 over 46.88 metres and 0.55% over 26.1 metres (including 0.78% over 10.64 metres).

Samples from Miranna and the Southeast zone also show that niobium-tantalum occurs within pyrochlore, described by Saville as the dominant source mineral for niobium and tantalum in global mining. That’s the case, for example, at Quebec’s Niobec mine, one of the world’s three main niobium producers, with 8% to 10% of global production. Moreover, pyrochlore on the Saville project “is commonly visible to the naked eye, thus indicating a relatively course grain size, which is a favourable attribute for metallurgical recovery,” the company added.

Hodge already has a prospective drill target in mind. “I pulled the rig around with a Cat for a lot of the holes on Ashram itself so I’m very familiar with the ground. We’d of course do more prospecting and try to prove up some more numbers while we’re drilling.”

Saville Resources moves into Commerce Resources’ niobium-tantalum target

Should Saville find success, a ready market would be waiting. The company cites niobium demand growth forecasts of 7.66% CAGR from 2017 to 2021. A December U.S. Geological Survey report lists niobium and tantalum among 23 minerals critical to American security and well-being.

The country relies on foreign exports for its entire supply of both minerals, according to an earlier USGS study. From 2012 to 2015, 80% of America’s total niobium imports came from Brazil, where one mine alone produces 85% to 90% of global supply. Looking at tantalum imports during that period, the U.S. relied on China for 37% and Kazakhstan for another 25%. A troubling source of tantalum remains the Democratic Republic of Congo, from where conflict minerals reach Western markets through murky supply chains.

Days after the USGS released its December study, American president Donald Trump ordered a federal strategy “to ensure secure and reliable supplies of critical minerals.” Although he emphasized the need for domestic deposits and supply chains, Trump also called for “options for accessing and developing critical minerals through investment and trade with our allies and partners.”

Meanwhile Saville also sees potential in Covette, the company’s other northern Quebec property. Historic, non-43-101 grab samples reported up to 4.7% molybdenum, with some bismuth, lead, silver and copper. A 1,402-line-kilometre VTEM survey in late 2016 found prospectivity for base and precious metals. “The VTEM and some sampling that we did indicates that drilling could find something valuable,” Hodge says. “Although it is early-stage, the Geotech guys that did the VTEM survey said they hadn’t seen targets like that all year.”

Still, “the niobium claims are my first priority,” Hodge emphasizes. “I’m very excited about this. I believe we can have a winning project here.”

Subject to approvals, a 75% interest in the new property would call for $25,000 on signing, another $225,000 on closing and $5 million in work over five years. Commerce retains a 1% or 2% NSR, depending on the claim, with Saville holding a buyback option.

Last month the company offered private placements totalling up to $500,000, with insiders intending to participate.

Read more about the U.S. critical minerals strategy.

Visual Capitalist and VRIC 2018 look at the raw materials that fuel the green revolution

January 10th, 2018

by Jeff Desjardins | posted with permission of Visual Capitalist | January 10, 2018

 

Records for renewable energy consumption were smashed around the world in 2017.

Looking at national and state grids, progress has been extremely impressive. In Costa Rica, for example, renewable energy supplied five million people with all of their electricity needs for a stretch of 300 consecutive days. Meanwhile, the UK broke 13 green energy records in 2017 alone, and California’s largest grid operator announced it got 67.2% of its energy from renewables (excluding hydro) on May 13, 2017.

The corporate front also looks promising and Google has led the way by buying 536 MW of wind power to offset 100% of the company’s electricity usage. This makes the tech giant the biggest corporate purchaser of renewable energy on the planet.

But while these examples are plentiful, this progress is only the tip of the iceberg—and green energy still represents a small but rapidly growing segment. For a full green shift to occur, we’ll need 10 times what we’re currently sourcing from renewables.

To do this, we will need to procure massive amounts of natural resources—they just won’t be the fossil fuels that we’re used to.

Green metals required

Today’s infographic comes from Cambridge House as a part of the lead-up to its flagship conference, the Vancouver Resource Investment Conference 2018.

A major theme of the conference is sustainable energy—and the math indeed makes it clear that to fully transition to a green economy, we’ll need vast amounts of metals like copper, silicon, aluminum, lithium, cobalt, rare earths and silver.

These metals and minerals are needed to generate, store and distribute green energy. Without them, the reality is that technologies like solar panels, wind turbines, lithium-ion batteries, nuclear reactors and electric vehicles are simply not possible.

First principles

How do you get a Tesla to drive over 300 miles (480 kilometres) on just one charge?

Here’s what you need: a lightweight body, a powerful electric motor, a cutting-edge battery that can store energy efficiently and a lot of engineering prowess.

Putting the engineering aside, all of these things need special metals to work. For the lightweight body, aluminum is being substituted for steel. For the electric motor, Tesla is using AC induction motors (Models S and X) that require large amounts of copper and aluminum. Meanwhile, Chevy Bolts and soon Tesla will use permanent magnet motors (in the Model 3) that use rare earths like neodymium, dysprosium and praseodymium.

The batteries, as we’ve shown in our five-part Battery Series, are a whole other supply chain challenge. The lithium-ion batteries used in EVs need lithium, nickel, cobalt, graphite and many other metals or minerals to function. Each Tesla battery, by the way, weighs about 1,200 pounds (540 kilograms) and makes up 25% of the total mass of the car.

While EVs are a topic we’ve studied in depth, the same principles apply for solar panels, wind turbines, nuclear reactors, grid-scale energy storage solutions or anything else we need to secure a sustainable future. Solar panels need silicon and silver, while wind turbines need rare earths, steel and aluminum.

Even nuclear, which is the safest energy type by deaths per TWh and generates barely any emissions, needs uranium in order to generate power.

The pace of progress

The green revolution is happening at breakneck speed—and new records will continue to be set each year.

Over $200 billion was invested into renewables in 2016 and more net renewable capacity was added than coal and gas put together:

Power Type Net Global Capacity Added (2016)
Renewable (excl. large hydro) 138 GW
Coal 54 GW
Gas 37 GW
Large hydro 15 GW
Nuclear 10 GW
Other flexible capacity 5 GW

The numbers suggest that this is only the start of the green revolution.

However, to fully work our way off of fossil fuels, we will need to procure large amounts of the metals that make sustainable energy possible.

Posted with permission of Visual Capitalist.

The Vancouver Resource Investment Conference 2018 takes place at the Vancouver Convention Centre West from January 21 to 22. Click here for more details and free registration.

Kapuskasing goes after gold in Newfoundland’s Gunners Cove area

January 9th, 2018

by Greg Klein | January 9, 2018

A possibly unique discovery by another company has brought Kapuskasing Gold TSXV:KAP back to Newfoundland’s Great Northern Peninsula. The company staked three blocks totalling 1,625 hectares near the town of St. Anthony, proximal to White Metal Resources’ (TSXV:WHM) Gunners Cove project. Last November White Metal announced highly anomalous gold and other metal values in samples taken from black shale on a wide area of the property, which had previously seen very little exploration.

Kapuskasing goes after gold in Newfoundland’s Gunners Cove area

Kapuskasing’s new turf covers “the same favourable geology,” the company stated. “This could potentially be a very important new discovery in a unique geological environment similar to that of other large gold deposits hosted in black shale environments around the world.”

“It’s grassroots, but these early days are interesting,” Kapuskasing president/CEO Jon Armes tells ResourceClips.com. “We need a presence there because this looks like it could turn into a whole new camp, a whole new geological environment that’s underexplored. And the best way to position yourself is by staking claims, with the advantage of having 100% interest with no underlying royalties. I think we’ll get more insight after the snow’s gone, when people get their boots on the ground and take a closer look.”

Kapuskasing intends to compile an exploration program over the next few months.

The acquisition expands the company’s Great Northern presence. In September Kapuskasing finalized a 100% option agreement on Daniel’s Harbour, roughly 200 kilometres southwest. The former zinc mine produced around seven million tonnes averaging 7.8% zinc between 1975 and 1990 from a Mississippi Valley Type deposit.

Off the peninsula but close to Newfoundland’s northern coast, assays are expected soon from Kapuskasing’s flagship Lady Pond project, where drilling began in November. Recent grab samples and historic, non-43-101 drill results have returned high copper grades.

Read Isabel Belger’s interview with Kapuskasing Gold president/CEO Jon Armes.

Copper crusader

December 29th, 2017

Gianni Kovacevic sees even greater price potential for the conductive commodity

by Greg Klein

Evangelist he may be, but Gianni Kovacevic’s hardly a voice crying in the wilderness. His favourite metal displayed stellar performance last year, reaching more peaks than valleys as it climbed from about $2.50 to nearly $3.30 a pound. But Kovacevic believes copper has a long way to go yet. That will be a function of necessity as the metal shows “the strongest demand growth of any of the major commodities.” Especially persuasive in his optimism, Kovacevic brings his message to the 2018 Vancouver Resource Investment Conference on January 21 and 22.

Gianni Kovacevic sees even greater price potential for the conductive commodity

Increasing copper demand will unlock
lower-grade resources, says Kovacevic.

As a researcher, commentator and investor who’s also the CEO/chairperson of CopperBank Resources CSE:CBK, co-founder of CO2 Master Solutions Partnership and author of My Electrician Drives a Porsche, he brings new approaches that link topics of energy demand, commodity supply and environmental stewardship.

Kovacevic sees a new paradigm driving copper’s future. “The invisible hand in commodities during the last cycle was China,” he says. “Its economic growth just came out of nowhere. This time the invisible hand is this pervasive use of copper in everything that’s electrified. That means even the smallest village in Africa, which per capita has negligible copper consumption, is becoming a line item. When you create, transfer and utilize greener and cleaner energy, it takes more copper by a power of magnitude. For example to establish a megawatt of windpower it takes five times more copper than it does a megawatt of conventional thermal-generated energy.”

Then there’s the battery-powered revolution and the attention it’s brought to lithium, cobalt and graphite. Saying “I like anything in electric metals,” Kovacevic stresses the importance of nickel as well. Still, “copper wins because the interconnectivity will always be copper and copper plays a role in each battery as well.”

That leads to a supply problem that can have only one solution. “I believe we’re going to have to make uneconomic deposits economic. And there’s only one way to do that—with a higher copper price.”

With no foreseeable hope of a copper mining “renaissance” comparable to the effect that fracking brought to oil and gas, the metal will simply require more money. “We’ve got the old legacy mines,” Kovacevic points out. “We’ve spent a lot of money on exploration in the last cycle and didn’t find a lot. What we do have is lower-grade resources. They are simply not economic at a low copper price.”

Gianni Kovacevic sees even greater price potential for the conductive commodity

Kovacevic: Electrical generation, storage and
connectivity put copper at the top of energy metals.

Apart from diminishing grades, the business of putting new mines into operation is “taking longer with water, electricity and permitting issues, and it’s getting into funkier places,” he continues. “The Elliott Wave [technical/fundamental analysis] on copper is $7.50 a pound. I find that very interesting. All the buy-out action in the copper space happened for the most part between 2006 and 2012. The mean price for copper during that time was about $3.50 a pound. The all-time high was about $4.50 for a short while, but the mean was $3.50.”

Copper’s 2017 performance makes that figure look viable again. Kovacevic, however, cites analysis from BHP Billiton NYSE:BHP stating that 75% of future projects will require more than $3.50. “Could we see a scenario in which the copper price goes past the old all-time high and stays there for a while? And will the buy-outs in the next wave, if they occur, be higher on average than those in the previous 2006-to-2012 cycle? I believe the answer will be yes. But if you look at the average grade that went through the top 15 copper producers’ mills in 2010, it was 1.2% copper. In 2016 it was 0.72% copper. So if you were mining 30 million tonnes a year, now you have to mine 40 or 45 million tonnes for the same metal yield. And without higher copper prices, that doesn’t make much of a business case.

“So the first question is, are we going to need more copper in the next five, 10, 15 years? The answer in my opinion is yes. In fact it has the strongest demand growth of any of the major commodities. And where will that copper come from? Well, it’s going to come from a mix of places but we’ll have to make these projects economic. That should bode well for people who have invested in the copper junior space.”

Addressing the topic of how investors might look at the energy revolution in 2018 and beyond, Kovacevic speaks at the 2018 Vancouver Resource Investment Conference, to be held at the Vancouver Convention Centre West from January 21 to 22. Click here for more details and free registration.

Step-out drilling grows potential of Rockcliff Metals’ historic zinc deposit in Manitoba

December 20th, 2017

by Greg Klein | December 20, 2017

Step-out drilling grows potential of Rockcliff Metals’ historic zinc deposit in Manitoba

A late autumn drill campaign on one of the priority properties in Rockcliff Metals’ (TSXV:RCLF) extensive Snow Lake portfolio shows potential to expand the historic Bur zinc-polymetallic deposit. Assays from 10 step-out holes totalling 3,250 metres brought zinc grades up to 3.18%, with 7.2% zinc-equivalent, over 4.85 metres. Another star result showed 1.76% zinc, with 5.9% zinc-equivalent, over 6.91 metres.

Each hole intersected the Bur VMS horizon, a potentially 8,000-metre-long mineralized area hosting the historic deposit adjacent and to the northeast of the drill targets, stated president/CEO Ken Lapierre. “The potential to identify additional resources along this important horizon is considered excellent and will be the focus of upcoming drill programs.”

Some highlights from the most recent campaign show:

Hole RBU002

  • 1.76% zinc, 0.96% copper, 0.59% lead, 0.26 g/t gold and 32.76 g/t silver, for 5.9% zinc-equivalent over 6.91 metres, starting at 269.65 metres in downhole depth
  • (including 0.99% zinc, 2% copper, 0.86% lead, 0.57 g/t gold and 56.35 g/t silver, for 9.1% zinc-equivalent over 2.43 metres)

RBU005

  • 1.65% zinc, 1.84% copper, 0.15% lead, 0.05 g/t gold and 15.32 g/t silver, for 6.8% zinc-equivalent over 4.25 metres, starting at 302.82 metres
  • (including 0.5% zinc, 6.18% copper, 0.08% lead, 0.04 g/t gold and 31.31 g/t silver, for 16.9% zinc-equivalent over 0.96 metres)

RBU007

  • 3.18% zinc, 1.41% copper, 0.13% lead, 0.04 g/t gold and 13.25 g/t silver, for 7.2% zinc-equivalent over 4.85 metres, starting at 231.15 metres
  • (including 5.38% zinc, 1.95% copper, 0.2% lead, 0.05 g/t gold and 15.62 g/t silver, for 10.9% zinc-equivalent over 2.85 metres)

True widths weren’t available.

Dating to 2007, Bur’s historic, non-43-101 estimate used a zinc-equivalent cutoff of 5%:

  • indicated: 1.05 million tonnes averaging 8.6% zinc, 1.9% copper, 12.1 g/t silver and 0.05 g/t gold

  • inferred: 302,000 tonnes averaging 9% zinc, 1.4% copper, 9.6 g/t silver and 0.08 g/t gold

Rockcliff’s 100% earn-in from Hudbay Minerals TSX:HBM requires $3 million in spending over four years. Hudbay owns a copper-zinc concentrator about 22 kilometres by road from Bur.

Earlier this month Rockcliff released a resource update for its Talbot flagship, another VMS property in the company’s roughly 45,000-hectare central Manitoba Snow Lake portfolio. The package includes gold projects too. Last month the company reported 17 geophysical anomalies over the Laguna property, site of a former gold mine.

With three of the projects active, Rockcliff’s entire portfolio sits within trucking distance of two Hudbay processing facilities. Included are two copper-polymetallic deposits with resource estimates, three zinc deposits with historic, non-43-101 estimates, five gold projects and a non-core zinc project recently optioned to Nevada Zinc TSXV:NZN.

Rockcliff closed an oversubscribed private placement of $1.35 million in August.

Read more about Rockcliff Metals here and here.

Golden Dawn Minerals adds another gold-silver property to its portfolio of advanced B.C. assets

December 19th, 2017

by Greg Klein | December 19, 2017

Part of a strategy to gather advanced-stage to near-production properties, Golden Dawn Minerals TSXV:GOM has picked up another British Columbia project. Situated 35 kilometres north of Revelstoke and 600 kilometres east of Vancouver, the 3,052-hectare J&L gold-silver-base metals property will function separately from the company’s Greenwood mining camp revival in southern B.C.

Golden Dawn Minerals adds another gold-silver property to its portfolio of advanced B.C. assets

J&L’s infrastructure includes a 40-person camp.

J&L comes with historic resources for three zones, paved highway and forestry road access, a rail siding and loading facility in Revelstoke, a 40-person camp, maintenance buildings, workshops and a fleet of underground mining equipment.

As part of a 2012 preliminary economic assessment, Huakan International Mining compiled a resource that Golden Dawn considers historic and non-43-101:

Main zone

  • measured and indicated: 3.95 million tonnes averaging 5.68 g/t gold and 56.5 g/t silver for 722,000 ounces gold and 7.18 million ounces silver

  • inferred: 4.34 million tonnes averaging 4.16 g/t gold and 57.8 g/t silver for 580,200 ounces gold and 8.06 million ounces silver

The company also reported M&I grades of 1.94% lead and 3.56% zinc, for a gold-equivalent grade of 8.56 g/t. The inferred category shows 1.82% lead and 2.72% zinc, for 6.76 g/t gold-equivalent.

Footwall zone

  • inferred: 363,000 tonnes averaging 3.65 g/t gold and 25.4 g/t silver for 42,500 ounces gold and 296,000 ounces silver

With 0.55% lead and 0.51% zinc, the gold-equivalent grade comes to 4.49 g/t.

Yellowjacket zone

  • indicated: 1 million tonnes averaging 0.21 g/t gold and 64.1 g/t silver for 6,900 ounces gold and 2.07 million ounces silver

  • inferred: 35,000 tonnes averaging 0.35 g/t gold and 81.9 g/t silver for 400 ounces gold and 91,000 ounces silver

The indicated category also showed 2.77% lead and 9.08% zinc, while base metals inferred grades came to 3.18% lead and 6.26% zinc.

The mineralized zones have been drilled up to 1.5 kilometres along strike and as much as 850 metres down-dip, remaining open.

A three-option agreement outlines several steps of cash payments and share issues to the vendor, as well as spending and work requirements to earn an initial 51% interest and subsequently full ownership of the project.

Golden Dawn Minerals adds another gold-silver property to its portfolio of advanced B.C. assets

Underground rehab readies the
Lexington past-producer for trial mining.

Golden Dawn plans to update the 2012 PEA and, given positive results, conduct further work including underground drilling, decline and drift development and metallurgical tests to move towards pre-feasibility.

Meanwhile work continues at the Greenwood camp 500 kilometres east of Vancouver, where Golden Dawn hopes to re-start a number of former mines within 15 to 20 kilometres’ radius of the company’s 212-tpd mill. Earlier this month Golden Dawn released another batch of gold-copper assays from the Golden Crown past-producer. The nearby Lexington gold-copper past-producer has dewatering and underground rehab underway, part of a plan to begin trial mining. Given the infrastructure in place, Golden Dawn proposes to re-start the former mines without de-risking at the feasibility level.

The company also announced three personnel additions this month. Geological consultant Peter Cooper’s 41-year career includes work as chief geologist and operations manager for Kinross Gold’s (TSX:K) Kettle River operations, about 40 kilometres south of the Greenwood camp. He’s helped put three gold mines into operation, including Kinross’ Buckhorn mine, 20 kilometres from Lexington.

Another consulting geologist, Serguei Soloviev has worked on a number of B.C. and Yukon gold and copper projects as well as serving as Rio Tinto Exploration’s chief geologist for Russian operations from 2010 to 2016. Soloviev has written over 50 technical papers for peer-reviewed journals.

Diana Mark joins the team as VP of corporate affairs. With over 25 years’ experience in corporate and regulatory compliance, she’s been providing consulting services to the company since January.

In September Golden Dawn closed private placements totalling $2.3 million, followed by another $2.36 million last month.

Read more about Golden Dawn Minerals.