Saturday 19th August 2017

Resource Clips


Posts tagged ‘Durango Resources Inc (DGO)’

New gold zone helps BonTerra Resources establish continuity at Gladiator

June 6th, 2017

by Greg Klein | June 6, 2017

Known as the Rivage Gap, some 600 intriguing metres separating BonTerra Resources’ (TSXV:BTR) Gladiator deposit and the Rivage zone to the west has been a focus of current drilling. Now assays reveal a new zone south and west of the deposit that could help close the gap.

BonTerra has committed at least four rigs to sink up to 40,000 metres on its 8,126-hectare property that’s adding to the excitement that Osisko Mining’s (TSX:OSK) Windfall project has generated in Quebec’s Urban-Barry camp.

BonTerra announced results for three holes on June 6, showing:

Hole BA-17-06

  • 7.1 g/t gold over 1 metre, starting at 37 metres in downhole depth (Footwall zone)

  • 1.4 g/t over 2 metres, starting at 477 metres (Main zone)

BA-17-11

  • 12.7 g/t over 3.6 metres, starting at 424 metres (Main zone)

BA-17-12

  • 11.1 g/t over 2 metres, starting at 17 metres (Main zone)

  • 3.5 g/t over 2 metres, starting at 32 metres (Mid zone)

  • 8.8 g/t over 3 metres, starting at 346.7 metres (new South zone)
New gold zone helps BonTerra Resources establish continuity at Gladiator

With at least four rigs in action, BonTerra
Resources keeps its Gladiator camp busy.

True widths were estimated between 60% and 80%.

BA-17-12, “the most predominant and westerly hole,” was the fourth hole so far to hit the new South zone, which has approximately 500 metres in strike. Drilling has also extended other zones to the west, with the Main and Footwall zones reaching over one kilometre each in strike. Gladiator itself has been drilled to 850 metres in depth and 1.2 kilometres in strike, remaining open in all directions.

That outlines Gladiator well beyond its 2012 resource which, using a 4 g/t cutoff, showed an inferred 905,000 tonnes averaging 9.37 g/t for 273,000 ounces gold.

Apart from the Rivage Gap, drilling also targets the Deep East zone and additional areas described as “large gaps or voids with currently little drill information.”

The assays follow a batch released in mid-May, strengthening the presence of four other areas in the gap, the North, Footwall, Porphyry/Main and Mid zones. Footwall gave up a standout intercept of 10 g/t gold over 4 metres, while North followed closely with 9.5 g/t over 4.2 metres.

In March BonTerra optioned Durango Resources’ (TSXV:DGO) Trove property, described as a direct extension of the Gladiator/Coliseum southwest mineralized trend.

Financings in February and March raked in $5.2 million from Kinross Gold TSX:K, as well as nearly $15 million that came with the participation of Sprott Capital Partners.

In Ontario’s Cadillac-Larder Lake fault zone, meanwhile, BonTerra has drilling planned to update historic, non-43-101 resources. VP of exploration Dale Ginn believes three historic deposits could comprise a single deposit.

Read more about BonTerra Resources.

High-grade gold helps BonTerra Resources close the Rivage gap

May 16th, 2017

by Greg Klein | May 16, 2017

With a goal of demonstrating continuity along a 1.2-kilometre potential strike—and maybe stealing some of Osisko Mining’s (TSX:OSK) Urban Barry glory—BonTerra Resources TSXV:BTR released another batch of high-grade assays May 16. Results so far show the Gladiator deposit open in all directions but much of the drilling has focused on closing its gap with the Rivage zone to the west.

Intercepts released for the Rivage gap’s four zones show:

Hole BA-17-04

  • 9.5 g/t gold over 4.2 metres, starting at 88.8 metres in downhole depth, North zone

  • 10 g/t over 4 metres, starting at 233 metres, Footwall zone

  • 1.4 g/t over 25 metres, starting at 272 metres, Porphyry/Main zone
  • (including 3.6 g/t over 3 metres)
High-grade gold helps BonTerra Resources fill the Rivage gap

Fortified by money and high grades, BonTerra Resources
plans up to 40,000 metres for Gladiator’s current program.

BA-17-07

  • 12 g/t over 3 metres, starting at 355 metres, Main zone

BA-17-08

  • 7.5 g/t over 1 metre, starting at 210 metres, North zone

  • 8 g/t over 1 metre, starting at 264 metres, Mid zone

  • 6.4 g/t over 1.8 metres, starting at 300.2 metres, Footwall zone

  • 3.4 g/t over 5.7 metres, starting at 390 metres, Main zone

BA-17-09

  • 9 g/t over 1.8 metres, starting at 67 metres, Footwall zone

BA-17-10

  • 5.6 g/t over 1.5 metres, starting at 177.5 metres, North zone

  • 8.4 g/t over 3.5 metres, starting at 198.5 metres, Footwall zone

  • 5.2 g/t over 2.5 metres, starting at 212.5 metres, Mid zone

  • 5.3 g/t over 2 metres, starting at 237 metres, Main zone

True widths were estimated between 60% and 80%.

Continued high grades add to the anticipation of an update to Gladiator’s 2012 resource, which used a 4 g/t cutoff to show an inferred 905,000 tonnes averaging 9.37 g/t for 273,000 ounces gold.

With up to 40,000 metres planned for this campaign, drilling has so far hit multiple high-grade intercepts between Gladiator and Rivage, confirmed over one kilometre in strike for each of the Main and Footwall zones, and sought extensions of the Gladiator deposit to 850 metres in depth and 1.2 kilometres in strike, BonTerra stated. Drilling also focuses on the Deep East zone “and within large gaps or voids with currently little drill information” on the 8,126-hectare property.

In late March the company took out a 100% option on Durango Resources’ (TSXV:DGO) Trove property, which BonTerra described as a direct extension of its Gladiator/Coliseum southwest mineralized trend.

A few days earlier the company gained another large cash injection, this one a $5.2-million private placement that gave Kinross Gold TSX:K an approximately 9.5% stake in BonTerra. That followed nearly $15 million raised over February and March with the participation of Sprott Capital Partners.

BonTerra also holds the 2,165-hectare Larder Lake gold project in Ontario’s Cadillac-Larder Lake fault zone, where drilling’s planned to bring historic, non-43-101 resources for two zones up to date.

Read more about BonTerra Resources.

Athabasca Basin and beyond

November 15th, 2014

Uranium news from Saskatchewan and elsewhere to November 14, 2014

by Greg Klein

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Kivalliq’s Nunavut property reveals new drill priority

Heralding its “most advanced, drill-ready target outside of the Lac 50 trend,” Kivalliq Energy TSXV:KIV announced the Angilak project’s Dipole target on November 12. The new area came to light after a 1,335-line-kilometre VTEM survey and 1,514 soil samples south of the 111,476-hectare property’s Lac 50 deposit in Nunavut.

Preliminary analysis confirms geophysical targets at Dipole and the RIB area, Kivalliq stated. The company expects final VTEM data shortly to further define targets south of Lac 50.

Uranium news from Saskatchewan and elsewhere to November 14, 2014

Located 225 kilometres south of the hamlet of Baker Lake,
Angilak has an exploration season lasting from April to September.

Enzyme leach soil samples showed 379 anomalous uranium results, about a quarter of the total, ranging from 6 ppb up to 285 ppb uranium, placing the results in the 75th percentile. Out of that group, 77 samples made the 95th percentile. The sampling has “significantly upgraded” drill targets in the Hot and KU areas, as well as Dipole.

Kivalliq describes the latter area, 27 kilometres southwest of Lac 50, as “a distinct, two-kilometre-long geophysical anomaly having a coincident boulder assay of 2.24% U3O8, now confirmed by an anomalous uranium-in-soil trend over 3.4 kilometres of strike length” with anomalous copper, molybdenum and silver.

This year’s work also confirmed a conductor in the RIB area, which has “geological similarities with both Dipole and Lac 50,” the company added. Soil samples showed a 3.6-kilometre-long geochemical trend with uranium values ranging from 6 ppb to 61.9 ppb.

Historic 1970s drilling at RIB found shallow mineralization up to 0.19% U3O8 over 9.3 metres (including 0.52% over 2.6 metres) and 1.61% over 0.7 metres.

Lac 50’s January 2013 inferred resource used a 0.2% cutoff to show 2.83 million tonnes averaging 0.69% for 43.3 million pounds U3O8. The inferred category also shows 1.88 million ounces silver, 10.4 million pounds molybdenum and 15.6 million pounds copper.

In late October Kivalliq announced a 1,914-hectare addition to its Genesis project in Saskatchewan and Manitoba, where Roughrider Exploration TSXV:REL funds exploration through an 85% earn-in.

A big piece of Strateco brings Toro Energy to Canada

An ASX-listed uranium company would gain a substantial portion of Strateco Resources TSX:RSC under an agreement announced November 3. Toro Energy would issue shares to obtain a chunk of the Sentient Group’s holdings in Strateco and SeqUr Exploration, a Strateco subsidiary. As a result, Toro would hold 19.8% of Strateco shares, $14.1 million of secured convertible notes receivable in Strateco, a $3-million senior secured first ranking loan receivable in Strateco and five million SeqUr shares, representing 25% of the subsidiary.

Sentient’s interest in Strateco would drop from 27.13% to about 8%. Sentient would also hold 800 convertible notes representing $800,000 secured by Strateco assets.

Toro’s Wiluna project is “set to become Western Australia’s first-ever uranium mine,” according to Strateco. “Toro has shown clear interest in the Matoush project, as well as in SeqUr’s uranium projects in Saskatchewan. Toro’s experience … permitting the Wiluna project, in an area formerly under moratorium, will certainly be an asset for Strateco.” The latter company’s Matoush project in Quebec has been stalled by a moratorium while a provincial inquiry into uranium takes place.

The transaction is part of a wider deal that includes Sentient’s AU$10-million placement into Toro, with another AU$10 million to fund the Wiluna flagship. Sentient now holds 18.9% of Toro, in which Oz Minerals holds 21.9% and Mega Uranium TSX:MGA 21.5%.

Toro anticipates closing the deals by mid-December.

Hook Lake JV proposes $2.9-million 2015 budget, Purepoint announces

Hook Lake partners will be on the hook for $2.9 million worth of exploration next year, if the joint venture committee’s proposals go through. Purepoint Uranium TSXV:PTU announced November 11 that a final decision on the budget, which would cover 4,200 metres of drilling, would follow geophysical results and a detailed drill plan. An airborne magnetic and VTEM-plus survey finished last month north of the project’s Spitfire zone. Beginning soon will be a ground EM survey to pinpoint drill targets on the 28,683-hectare property five kilometres northeast of Fission Uranium’s (TSX:FCU) Patterson Lake South discovery.

Purepoint announced the Spitfire zone last March and released additional drill results in May.

The Hook Lake JV consists of Cameco Corp TSX:CCO (39.5%), AREVA Resources Canada (39.5%) and Purepoint (21%). The latter company’s share of the budget would come to about $310,000.

Western Athabasca Syndicate, Aben, Alpha update Preston, Mann Lake and Carpenter Lake

A recent analysis of airborne geophysics confirms existing drill targets at the 246,643-hectare Preston property, the Western Athabasca Syndicate reported November 13. The four-company group has further geophysical and geochemical work planned for early 2015, along with land- and lake-based drilling.

Some $3.75 million worth of expenditures so far have identified 15 target areas on the southwestern Athabasca Basin PLS-proximal property. In July the companies released results from Preston’s initial drill campaign of nine holes totalling 1,902 metres.

Skyharbour Resources TSXV:SYH currently acts as project operator for partners Athabasca Nuclear TSXV:ASC, Noka Resources TSXV:NX and Lucky Strike Resources TSXV:LKY.

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