Sunday 26th March 2017

Resource Clips

Posts tagged ‘gold’

Pistol Bay expands Confederation Lake package, adding gold to base metals potential

March 22nd, 2017

by Greg Klein | March 22, 2017

The largest portfolio in western Ontario’s Confederation Lake greenstone belt just got larger as Pistol Bay Mining TSXV:PST increased its holdings to about 9,450 hectares. Two claim groups, Lucky 7 and Moth, cover “a 53-kilometre length of favourable volcanic geology,” the company stated.

Pistol Bay expands Confederation Lake package, adding gold to base metals potential

Neighbouring Pistol Bay’s Garnet Lake and Garnet East properties, the 640-hectare Lucky 7 hosts a copper-gold sulphide zone that was drilled in 1980 and 2002. A zone of massive to disseminated sulphides, the Hilltop copper-gold zone, was trenched but apparently never drilled. One of two Hilltop grab samples taken last year assayed 13.84 g/t gold and 3.21% copper.

Five kilometres from Lucky 7, the 1,360-hectare Moth claims underwent at least 14 holes between 1970 and the mid-1990s, revealing widespread hydrothermal alteration and numerous cases of zinc and/or copper mineralization, Pistol Bay stated. One interval graded 2.86 g/t gold over 0.3 metres. Located two kilometres from the former South Bay zinc-copper-silver mine, Moth sits near the Confederation belt’s most accessible area.

[Assays] suggest that we might be getting into an area with a potential for gold as well as base metals. This is something that hasn’t been widely recognized before in the Confederation Lake belt.—Charles Desjardins,
CEO of Pistol Bay Mining

Assays from both properties “suggest that we might be getting into an area with a potential for gold as well as base metals,” said CEO Charles Desjardins. “This is something that hasn’t been widely recognized before in the Confederation Lake belt.”

Together, the two properties will cost $72,000 and 2.3 million shares over three years. Pistol Bay may buy half of the 1.5% NSR for $400,000.

Last month the company acquired an historic data set for its recently optioned Joy North copper-zinc project. Mostly consisting of drill logs and ground geophysics maps, the info will go into a digital database including drill information, geology, assays, rock chemistry, petrology and geophysics. Now under consideration is an airborne EM and mag survey to penetrate deeper than earlier systems and better discriminate bedrock from overburden conductivity.

Pistol Bay’s overall strategy is to apply modern methods and a regional approach to properties that had previously been explored individually by different companies using earlier techniques.

The company also holds the C4, C5 and C6 uranium properties in Saskatchewan’s Athabasca Basin, where a Rio Tinto NYSE:RIO subsidiary advances towards a 100% interest.

On March 20 Pistol Bay closed a private placement totalling $548,436.

Read more about Pistol Bay Mining.

Update: BonTerra Resources’ high gold grades bring big money and Kinross to Urban Barry

March 21st, 2017

by Greg Klein | March 22, 2017

Update: On March 22 BonTerra Resources TSXV:BTR announced a $5.2-million private placement by Kinross Gold TSX:K, giving the global miner around 9.5% of BonTerra’s issued and outstanding shares. The parties expect to close by March 24. The news follows $15 million of BonTerra financings raised in February and March with strong participation from Sprott Capital Partners.

Kinross’ “entry into the Urban Barry gold camp further validates our ongoing progress and success at the Gladiator deposit and surrounding properties,” said BonTerra president/CEO Nav Dhaliwal. “The depth of technical expertise that Kinross offers will be of great value to BonTerra’s development going forward.”

The previous day BonTerra released assays up to 41 g/t gold over 6 metres, showing further progress as the company works to bring continuity to a 1.2-kilometre potential strike. Part of an effort to bridge the gap between the Gladiator deposit and the Rivage zone to the east, hole BA-17-05 encountered five zones, two of them new, as well as a western extension of the project’s Footwall zone. Highlights show:

  • 1.1 g/t gold over 12 metres, starting at 19 metres in downhole depth
BonTerra Resources’ Quebec Gladiator hits 41 g/t gold over 6 metres

Backed by over $20 million in recent financings,
BonTerra has three rigs busy at Gladiator.

  • 23.6 g/t over 5 metres, starting at 45 metres

  • 41 g/t over 6 metres, starting at 72 metres
  • (including 147.9 g/t over 1.6 metres)

  • 36.6 g/t over 1 metre, starting at 152 metres

  • 2.2 g/t over 6.8 metres, starting at 527 metres

True widths weren’t available.

Last year’s final assays came from the project’s East Side, with highlights showing:


  • 5.5 g/t over 1.5 metres, starting at 786.5 metres

  • 2.3 g/t over 3 metres, starting at 831 metres

  • 6.8 g/t over 2.4 metres, starting at 944.6 metres

[Kinross’] entry into the Urban Barry gold camp further validates our ongoing progress and success at the Gladiator deposit and surrounding properties. The depth of technical expertise that Kinross offers will be of great value to BonTerra’s development going forward.—Nav Dhaliwal, president/CEO
of BonTerra Resources


  • 1 g/t over 13.3 metres, starting at 726 metres

  • 2 g/t over 3 metres, starting at 816 metres


  • 4.8 g/t over 3 metres, starting at 855 metres

Again, true widths weren’t available.

While additional assays are pending, three rigs focus on the Deep East zone, the Rivage Gap western side and Rivage Gap infill. The company has a fourth rig under consideration to explore the on-trend Coliseum property.

Last week BonTerra announced property acquisitions in the Urban Barry area play that’s home to Gladiator, as well as new turf near the company’s Larder Lake project in Ontario’s Cadillac-Larder Lake Break camp.

Read more about BonTerra Resources.

Aurvista Gold completes initial met tests for Abitibi project

March 21st, 2017

by Greg Klein | March 21, 2017

Aurvista Gold TSXV:AVA declared preliminary metallurgical results for its Douay deposit “in line with the recoveries achieved elsewhere in the Abitibi belt at projects with comparable mineralization styles and similar or lower gold grades.” Ten composite samples totalling 311 kilograms and averaging 1.89 g/t gold from seven zones underwent the tests.

Aurvista Gold completes initial met tests for Abitibi project

Visible gold enhances Aurvista’s
confidence in its Abitibi deposit.

With consistent results, gold recovery averaged 26% from gravity and 66% from flotation, for an average total of 92%. The correlation between gold and sulphur recovery suggested the metal’s association with sulphide minerals.

Cyanidation leaching of a gravity and flotation concentrate averaged 85% recovery. The process improved recovery of samples from the project’s North West zone, characterized by a felsic volcanic host rock, but other composites did better. Excluding the North West samples, recovery averaged 88.9% for material from mafic volcanic and porphyry host rocks.

Results suggest capex and opex advantages to gravity-flotation-leach over an entirely leach process. The company has further tests planned later this year to optimize results and lower costs.

Earlier this month Aurvista issued a clarifying news release with an amended resource estimate. Using a 0.5 g/t cutoff within a conceptual pit shell, Douay’s eight zones total:

  • inferred: 83.3 million tonnes averaging 1.05 g/t for 2.81 million gold ounces

Last month Aurvista released assays up to 2.2 g/t over 23.1 metres. Backed by $7.5 million raised in 2016, the company has about 30,000 metres of additional drilling planned this year.

Douay consists of 14,520 hectares along a 20-kilometre segment of the Casa Berardi deformation zone in Quebec’s Abitibi region. Aurvista holds a 100% interest in 13,310 hectares, a 90% interest in 20 hectares and a 75% interest in the 1,190-hectare North West zone, a JV with 25% partner SOQUEM, the mineral exploration branch of the provincial government’s Investissement Québec.

Read more about Aurvista Gold.

Infographic visualizes the world’s deepest oil well

March 20th, 2017

Infographic by Fuel Fighter | text by Jeff Desjardins | posted with permission of Visual Capitalist | March 20, 2017

In the world’s deepest gold mine, workers venture four kilometres below the Earth’s surface to extract gold from a 0.8-metre-wide vein of ore.

While these depths are impressive, mining is limited by the frailty of the human body. Going much deeper would be incredibly dangerous, as limitations such as heat, humidity, logistics and potential seismic activity all become more intense.

Luckily, the oil industry does not have such human restrictions and drilling deep into the Earth’s crust is instead limited by a different set of circumstances—how deep can the machinery and technology go before the unfathomable heat and pressure renders it inoperable?

The world’s deepest oil well

This infographic comes to us from Fuel Fighter and it helps visualize the mind-boggling depths of the world’s deepest oil well, which is located in a remote corner of eastern Russia.


Visualizing the world’s deepest oil well


The world’s deepest oil well, known as Z-44 Chayvo, goes over 12 kilometres into the ground—equal to 15 Burj Khalifas (the tallest skyscraper) stacked on top of each other. That’s also equal to twice the record height for air balloon flight.

Perhaps more importantly to the operator, Exxon Neftegas Ltd, the wells on this shelf are expected to produce a total of 2.3 billion barrels of oil.

That’s some serious depth

But even before the Z-44 Chayvo Well and other holes like it were drilled on the eastern side of Russia, the famous Kola Superdeep Borehole set the record for drill depth.

Located in western Russia, this time just 10 kilometres from the border with Norway, the Kola Superdeep Borehole was rumoured to have been discontinued in 1992 because it actually reached “hell” itself. At its most extreme depth, the drill had pierced a super-hot cavity and scientists thought they heard the screams of damned souls.

All folklore aside, the Kola Superdeep Borehole is super interesting in its own right. It revealed many important things about our planet and it still holds the record for depth below the surface.

Read more about deep underground mining.

Emerita Resources signs LOI for Spanish zinc project

March 20th, 2017

by Greg Klein | March 20, 2017

Set to resume trading on March 22, Emerita Resources TSXV:EMO has due diligence planned for a VMS property in an infrastructure-rich region of southern Spain. The non-binding letter of intent concerns the 1,400-hectare Masa Valverde zinc project in Andalusia’s Iberian pyrite belt.

Emerita Resources signs LOI for Spanish zinc project

The property “hosts a classic, polymetallic, volcanogenic massive sulphide deposit that is locally enriched in gold and contains zinc-rich massive sulphide zones and a copper-rich zone as is characteristic for VMS deposits,” Emerita stated. “Drilling to date has outlined a sulphide body that is greater than 1,200 metres long and greater than 200 metres wide.” Mineralization remains open, the company added.

Subject to approvals and a 60-day due diligence period, the property would cost Emerita €4.5 million over two years plus a 2.5% NSR. The vendor also retains an offtake option.

Located in a region active in base metals mining, local infrastructure includes paved roads, rail, power, water and ports.

Following a March 10 halt, Emerita resumes trading on March 22.

The company also reiterated its commitment to another Andalusian project, the Aznalcollar zinc-lead-copper project. Emerita’s acquisition of the asset was confirmed in an October court ruling.

Additionally, the company holds the Sierra Alta gold project in northwestern Spain, Las Morras gold project in western Spain and the Falcon Litio MG lithium project in Brazil.

BonTerra Resources expands its land in Urban Barry and Larder Lake

March 16th, 2017

by Greg Klein | March 16, 2017

Growing an already major position in the Windfall Lake-inspired Urban Barry area play, BonTerra Resources TSXV:BTR announced additional property acquisitions March 15. Among them is Thubiere, northwest of the company’s Arena property and surrounded by Osisko Mining TSX:OSK turf.

BonTerra Resources expands its land in Urban Barry and Larder Lake

BonTerra’s Gladiator project consists of the
West Arena, East Arena and Coliseum properties.

One day previously BonTerra closed a $1-million private placement, bringing the March total to about $15 million. Obviously well-funded, the company has three rigs working a program of up to 40,000 metres at its nearby Gladiator gold project. Recent results have graded up to 16.8 g/t gold over 3.8 metres and 15.7 g/t over 8.5 metres as the company endeavours to connect zones across a 1.2-kilometre potential strike.

BonTerra describes the 338-hectare Thubiere property as poorly explored, despite historic, non-43-101 assays grading 13.7 g/t gold over 1.2 metres, 10.98 g/t over 1.83 metres and 74.8 g/t over 0.61 metres.

The historic work “strongly supports a pattern of future exploration along the main fault and specifically in areas where porphyritic felsic intrusives are recorded to exist,” BonTerra stated. “This gold-fault-felsic intrusive association is beginning to emerge as a useful gold pathfinder [in the] Urban Barry greenstone belt of Quebec, based on recent discoveries.”

The company staked four new claims north of its Gladiator project’s Lacroix Lake block and intends to buy another 226 contiguous hectares.

In Ontario, BonTerra signed a purchase agreement for another 56-hectare claim proximal to the company’s Larder Lake gold project, currently active with 25,000 metres of resource development and exploration.

Subject to approvals, Thubiere’s price tag comes to $5,000 and 150,000 shares. The 226 hectares north of Lacroix would cost $10,000 and 150,000 shares. The Larder Lake addition calls for 100,000 shares and a 2% NSR, half of which may be subject to a $750,000 buy-back.

Due for updates are the Gladiator and Larder Lake resources. Gladiator’s 2012 estimate used a 4 g/t cutoff to show 905,000 tonnes averaging 9.37 g/t for 273,000 gold ounces inferred.

Historic, non-43-101 estimates at Larder Lake give the Bear Lake deposit 683,000 gold ounces inferred, and the Cheminis deposit 43,800 gold ounces indicated and 233,400 ounces inferred.

Read more about BonTerra Resources.

Golden Dawn Minerals reports positive gold-silver metallurgy from B.C.’s Greenwood camp

March 15th, 2017

by Greg Klein | March 15, 2017

Initial metallurgical results support Golden Dawn Minerals’ (TSXV:GOM) plan to put a southeastern British Columbia mine and mill back into production. A 16-kilogram composite sample from the May Mac mine underwent gravity and flotation at the company’s Greenwood mill, 15 kilometres away, with 98% recovery for gold and 97.7% for silver. Preliminary results suggest no major modifications to the mill would be necessary to process May Mac feed.

The past producer comprises one of several former mines proximal to the mill that Golden Dawn endeavours to re-open.

Golden Dawn Minerals reports positive gold-silver metallurgy from B.C.’s Greenwood camp

Sitting amidst Golden Dawn’s portfolio of former mines,
the Greenwood mill has a 200-tpd capacity expandable to 400 tpd.

“Flotation cleaning will now be tested in order to make a higher-grade concentrate for sale,” the company stated. “Optionally, cyanide leaching results after 48 hours’ retention indicate approximately half the silver was recovered, and with a gold recovery of 90%.”

Meanwhile underground drilling continues at May Mac, with surface drilling planned for next month. The company has permitting underway to extend the mine’s #7 level for a bulk sample of up to 10,000 tonnes for processing at the Greenwood mill. Plans also call for a maiden resource this year. Earlier this month the company released the last of 19 holes from last winter’s program.

With a de-watering permit now in process for the nearby Lexington project, Golden Dawn hopes to begin trial mining in Q3 or Q4. The past producer has 96,300 gold-equivalent ounces measured and indicated, along with 2,300 ounces inferred at a 3.5 g/t gold-equivalent cutoff.

Included in the 2017 agenda is surface drilling at Golden Crown, which currently hosts 62,500 gold-equivalent ounces indicated and 13,100 ounces inferred, also using a 3.5 g/t gold-equivalent cutoff.

Golden Dawn has a modest program of geophysics in store for the KRR property, an 11,000-hectare package of 29 historic mines and 40 significant showings. The company announced a 43-101 on the recent acquisition in January.

With a final tranche of US$1 million now in hand, the company has collected the full US$4-million advance from a gold purchase agreement with RIVI Capital LLC.

Golden Dawn’s Greenwood camp portfolio lies about 500 kilometres east of Vancouver.

The Aurvista Gold team reflects on a successful year at the Douay project

March 10th, 2017

…Read more

Rockcliff Copper flies geophysics over former high-grade gold mine in Manitoba

March 6th, 2017

by Greg Klein | March 6, 2017

In the property’s first program of its kind, Rockcliff Copper TSXV:RCU has a state-of-the-art magnetometer survey now airborne over its Laguna gold project in Manitoba’s Flin Flon-Snow Lake camp. Plans call for ground-based induced polarization to follow on the 3,499-hectare past-producer optioned in September. The property forms part of Rockcliff’s high-grade Snow Lake portfolio, which includes four other projects slated for drilling this year.

Rockcliff Copper flies geophysics over former high-grade gold mine in Manitoba

An historic sample of Laguna gold on
display at Toronto’s Royal Ontario Museum.

A helicopter-style drone will fly “extremely tightly spaced lines with high-density ground sampling distances without the need for line-cutting,” the company stated. “It is now possible to resolve individual magnetic anomalies that were previously indistinguishable when surveyed using conventional ground and airborne surveys.”

Initial ground geophysics will consist of 65 kilometres of gradient IP, which provides advantageous economics, signal-to-noise readings, lateral resolution and depth penetration, Rockcliff added.

Grab samples from four vein systems released in January ranged from 0.01 grams per tonne up to 25 g/t and 34.77 g/t gold. The field program “discovered that the gold mineralization is structurally controlled and associated with much thicker zones of gold-rich quartz stockwork systems not previously identified or reported in historic documents,” said president/CEO Ken Lapierre. “The detailed drone magnetometer and the IP surveys will play a pivotal role in following and identifying the horizontal and lateral extent of the known high-grade stockwork systems … With this Phase I geophysical data, we will be one step closer to our first drill program on the Laguna gold mine trend and the first on this trend in over 70 years.”

Located 20 kilometres from Hudbay Minerals’ (TSX:HBM) Snow Lake gold mill, Laguna produced over 60,000 gold ounces from one vein during intermittent mining between 1916 and 1939.

Last month Rockcliff reported drill results from its 51%-optioned Talbot copper-polymetallic VMS project, with grades up to 3.48% copper-equivalent over 16.08 metres. The current program has 7,000 metres planned by spring break-up. An inferred resource for three zones totals 133.6 million pounds copper, 165,400 ounces gold, 107.4 million pounds zinc and 3.81 million ounces silver.

The company’s 2017 agenda also calls for drilling on the Bur zinc project, Rail copper-polymetallic deposit and the Penex zinc project, which Rockcliff announced staking just last week. Less than 200 metres from the historic Pen deposit, Penex has a deep-penetrating EM survey already underway.

Read more about Rockcliff Copper.

Golden Dawn Minerals reports May Mac assays as underground drilling continues

March 6th, 2017

by Greg Klein | March 6, 2017

Golden Dawn Minerals TSXV:GOM released the last of 19 holes drilled so far this winter at its May Mac mine in southern British Columbia’s historic Greenwood camp. Following assays reported last month, the results show silver-polymetallic mineralization on the Skomac vein system beyond, above and below the former mine’s #7 adit.

Some highlights from hole MU17-10 include:

  • 81.1 g/t silver, 0.06 g/t gold, 2.1% lead and 0.6% zinc over 5.25 metres, starting at 188.82 metres in downhole depth
  • (including 121.4 g/t silver, 0.07 g/t gold, 3.5% lead and 1% zinc over 2.7 metres)

  • 86 g/t silver, 0.01 g/t gold, 5.3% lead and 1.6% zinc over 1 metre, starting at 195.78 metres

  • 174.3 g/t silver, 8.2 g/t gold, 3.7% lead, 2.6% zinc and 0.01% copper over 1.2 metres, starting at 211.6 metres
  • (including 228 g/t silver, 19.65 g/t gold, 8.8% lead, 6.2% zinc and 0.2% copper over 0.5 metres)

  • 98 g/t silver, 0.01 g/t gold, 0.5% lead, 0.9% zinc and 0.1% copper over 1.5 metres, starting at 218.37 metres

  • 18.33 g/t silver, 3.11 g/t gold, 1.2% lead, 3.5% zinc and 0.1% copper over 1.97 metres, starting at 221.89 metres

  • 37.5 g/t silver, 6.76 g/t gold, 1.4% lead, 2.2% zinc and 0.1% copper over 1.32 metres, starting at 226.4 metres
Golden Dawn Minerals reports May Mac assays as underground drilling continues

True widths weren’t available.

The program found veining concentrated in four zones ranging from 1.2 metres to 19.43 metres in extent, with significant mineralization in the first three zones.

Drilling continues at the underground drill station, prior to moving the rig to two other stations. Golden Dawn also has permitting underway to extend the #7 drift for a bulk sample of up to 10,000 tonnes. Samples have already been taken for metallurgical tests at the company’s Greenwood mill, 15 kilometres southeast. Golden Dawn holds an extensive portfolio of former mines proximal to the 200-tpd mill, which the company hopes to restart this year.

Last month the company announced a US$4-million advance on a streaming agreement for its past-producing Lexington and Golden Crown gold mines. Lexington has trial mining anticipated for Q3, while Golden Crown has a permit application for infill drilling. Trial mining at Golden Crown could begin in Q2 2018, following successful permitting, adit refurbishment and underground exploration.

The company also has field work planned for its Phoenix and Tam O’Shanter properties, part of a 11,000-hectare, 29-property acquisition that closed in January.

Golden Dawn’s Greenwood portfolio sits about 500 kilometres east of Vancouver.