Tuesday 20th February 2018

Resource Clips


Posts tagged ‘gold’

King’s Bay Resources samples 6% copper in Newfoundland, awaits Labrador cobalt assays

December 15th, 2017

by Greg Klein | December 15, 2017

A three-day Phase I field program in northern Newfoundland brought encouraging copper grades for King’s Bay Resources’ (TSXV:KBG) Trump Island project. Out of 15 samples taken from outcrop, four surpassed an upper detection limit of 1% copper, with results showing:

King’s Bay Resources samples 6% copper in Newfoundland, awaits Labrador cobalt assays

  • >10,000 ppm copper, 303 ppm cobalt and >6 ppm silver

  • >10,000 ppm copper, 1,213.6 ppm cobalt and 21.1 ppm silver

  • >10,000 ppm copper, 634.5 ppm cobalt and 27.4 ppm silver

  • >10,000 ppm copper, 272.3 ppm cobalt and 28.7 ppm silver

With those numbers from aqua regia digestion Ultratrace ICP-MS analysis, King’s Bay sent the first sample to a second lab for additional tests using ICP and ore grade analysis, with the following result:

  • 6.07% copper, 0.03% cobalt and 14.4 ppm silver

Grab samples don’t represent the entire property, King’s Bay cautioned. But the company sees further exploration warranted for next spring. The boat-accessible property’s historic work dates to historic times, when in 1863 a miner from Cornwall reportedly extracted a supply of copper and cobalt for shipment to Wales. Non-43-101 results from 1999 grab sampling near the Cousin Jack’s mineshaft showed 3.8% copper, 0.3% cobalt, 2.9 g/t gold and 10.9 g/t silver. The 200-hectare property has yet to be drilled.

Last month King’s Bay wrapped up an initial two-hole, 502-metre program at its Lynx Lake cobalt project in Labrador. Assays are expected in early January but the company reported intervals of net textured gabbro totalling 164.3 metres, along with a 14.9-metre intercept of mineralized biotite gabbro. The holes targeted the West Pit area, where the company anticipates a VTEM anomaly to range from 50 to 300 metres’ depth and about 400 metres in diameter. A highway and powerlines run through the 24,000-hectare property.

King’s Bay offered a $250,000 private placement in September.

Castle Silver Resources’ Frank Basa sees cobalt exploration bringing new interest to a former silver mine

December 12th, 2017

…Read more

Castle Silver Resources samples 4.7% at a second Ontario cobalt project

December 9th, 2017

by Greg Klein | December 9, 2017

Recent work at the former Beaver mine shows why some Ontario silver past-producers have attracted Castle Silver Resources TSXV:CSR in its quest for cobalt. An initial field program collected three composite samples averaging 4.68% cobalt, 3.09% nickel, 46.9 g/t silver and 0.08 g/t gold.

Castle Silver Resources samples 4.7% at a second Ontario cobalt project

The individual breakdowns come to:

  • 4.746% cobalt, 3.985% nickel, 37.4 g/t silver and 0.06 g/t gold

  • 4.743% cobalt, 4.624% nickel, 26.9 g/t silver and 0.09 g/t gold

  • 4.554% cobalt, 0.676% nickel, 76.5 g/t silver and 0.09 g/t gold

The three composites came from selected hand-cobbed material gathered at surface and weighing a total of 38.7 kilograms. The samples don’t necessarily reflect the property’s mineralization, Castle Silver cautioned.

Located near the town of Cobalt and within the eponymous camp known for high-grade silver, Beaver shows similarities to Castle, another former silver mine and the company’s flagship, 80 kilometres to the northwest. Last week the company released assays from underground mini-bulk sampling at Castle that graded up to 3.1% cobalt. In November Castle Silver announced a drill intercept of 1.55% cobalt over 0.65 metres from the same property, the first assay from a summer drill program that sunk 22 holes totalling 2,405 metres. More assays are pending for both surface drilling and underground sampling.

The company also holds the former Violet silver-cobalt mine proximal to Beaver.

Noting an obvious discrepancy between Castle Silver’s moniker and its commodity of choice, president/CEO Frank Basa said the February AGM will consider a name change to “further build CSR’s brand in the Canadian cobalt sector with the company holding unique competitive advantages in the northern Ontario Cobalt region, including underground access at Castle and a proprietary metallurgical process (Re-2OX).”

Rockcliff Metals boosts its Talbot copper-polymetallic resource in Manitoba

December 8th, 2017

by Greg Klein | December 8, 2017

Among a number of active projects in the company’s Snow Lake portfolio, the Talbot deposit stands out as Rockcliff Metals’ (TSXV:RCLF) flagship. Now an updated resource has the company increasingly enthused while work continues towards further expansion.

The first update since January 2016 for the 51%-optioned property increases tonnage and contained amounts for an inferred category showing:

  • 4.23 million tonnes averaging 1.61% copper, 1.4% zinc, 1.77 g/t gold and 27.96 g/t silver for 150 million pounds copper, 130.4 million pounds zinc, 241,000 ounces gold and 3.8 million ounces silver
Rockcliff Metals boosts its Talbot copper-polymetallic resource in Manitoba

Based on 84 holes totalling 44,800 metres, the estimate uses a copper-equivalent cutoff of 2%. The copper-equivalent grade comes to 3.4%.

“The deposit remains open in all directions and is robust and predictable in all aspects including the geology, the estimation, classification and reporting assumptions,” said president/CEO Ken Lapierre. “Last year’s geophysics indicated significant upside potential to discover more VMS (copper, gold, zinc, silver) mineralization at the West Talbot deep conductive plate. Our present geophysical survey will focus on this large untested one-kilometre-by-one-kilometre anomaly, located immediately below and in the footwall of the deposit.”

Talbot has more drilling planned for 2018.

Featuring both gold and VMS projects, Rockcliff’s Snow Lake portfolio hosts five gold properties, two copper-polymetallic deposits with resource estimates and three zinc deposits with historic, non-43-101 estimates. All sit within trucking distance of two Hudbay Minerals TSX:HBM processing plants.

Reporting on the Laguna gold project last week, Rockcliff announced geophysics had located 17 high-priority anomalies, while winter plans include more surveying. A fall drill program at the Bur zinc-copper project had around 3,000 metres scheduled to upgrade the historic resource.

Read more about Rockcliff Metals here and here.

Golden Dawn’s Golden Crown gives up 27.2 g/t gold over 0.57 metres, 7.21 g/t over 0.73 metres in southern B.C.

December 5th, 2017

by Greg Klein | December 5, 2017

Another batch of assays shows more high grades from Golden Crown, one of the Greenwood camp past-producers Golden Dawn Minerals TSXV:GOM hopes to revive in southern British Columbia. This program has so far sunk 31 holes totalling 2,954 metres, as drilling continues. Including nine holes released in October, results for 18 reported holes show consistency with previously released intercepts, the company stated. Near-surface drilling targeted massive sulphide veins and adjacent wall rocks, with the most recent highlights including:

Hole GC17-12, King zone

  • 4.99 g/t gold and 0.12% copper over 1.5 metres, starting at 64.38 metres in downhole depth
Golden Dawn’s Golden Crown gives up 27.2 g/t gold over 0.57 metres, 7.21 g/t over 0.73 metres in southern B.C.

A key aspect of Golden Dawn’s plan to
revive Greenwood’s former mines is a
nearby 212-tpd processing facility.

GC17-14, Portal zone

  • 27.2 g/t gold and 0.11% copper over 0.57 metres, starting at 33.88 metres

  • 4.29 g/t gold and 0.07% copper over 1.3 metres, starting at 37.17 metres

GC17-16, Portal zone

  • 7.21 g/t gold and 0.24% copper over 0.73 metres, starting at 27 metres

  • 5.11 g/t gold over 2 metres, starting at 49.5 metres

GC17-18, Southwest zone

  • 41.4 g/t gold, 0.17% copper and 5.9 g/t silver over 0.3 metres, starting at 31.25 metres

True widths weren’t provided.

“The deposit now appears to consist of a field of multiple veins and veinlets, with the main vein structures selected as targets for underground development,” Golden Dawn stated.

Using a 3.5 g/t gold-equivalent cutoff, the 2016 resource shows:

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

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

Next year’s plans include increasing and upgrading the resource.

Drilling continues at the project, while the newly acquired JD zone and the three-kilometre trend extending to Golden Crown will see additional drilling next year. One-width intervals of chip samples from JD released in October assayed up to 15.8 g/t gold and averaged 7.4 g/t.

Other 2018 plans for Golden Crown include metallurgical studies as well as permitting for underground mine development and bulk sampling, part of a plan to enter production without de-risking through a feasibility study.

At the nearby Lexington past-producer, meanwhile, Golden Dawn has de-watering nearly complete, with trial mining scheduled to follow next year. That would coincide with wet commissioning at the company’s 212-tpd Greenwood mill, three kilometres from Golden Crown and 17 klicks from Lexington.

Last month Golden Dawn closed an over-subscribed private placement of $2.36 million that followed private placements totalling another $2.3 million that closed in September. Also in November, the company announced negotiations to pick up additional properties.

The current Greenwood portfolio sits about 500 kilometres by highway east of Vancouver.

Read more about Golden Dawn Minerals.

Castle Silver Resources grades 3.1% cobalt from underground sampling in Ontario

December 1st, 2017

by Greg Klein | December 1, 2017

Historically the northeastern Ontario region was known for a precious metal but more recent activity focuses on an energy metal. Cobalt sampling from a former mine “supports our original thesis that past operators may have left much behind at Castle in their strict focus on mining high-grade silver,” stated Castle Silver Resources TSXV:CSR president/CEO Frank Basa. On December 1 the company released more assays from ongoing underground sampling in the past-producer’s first level.

Castle Silver Resources grades 3.1% cobalt from underground sampling in Ontario

An adit seen from the Castle mine’s first of 11 levels
totalling about 18 kilometres of underground development.

Results for two mini-bulk samples graded:

  • 3.124% cobalt, 21 g/t silver and 0.128% nickel

  • 1.036% cobalt, 12.7 g/t silver and 0.117% nickel

A composite from the two samples showed:

  • 2.323% cobalt, 68.7 g/t silver and 0.355% nickel

More assays are pending.

Last month Castle Silver released the first assay from a 2,405-metre summer drill program that the company said found mineralization in all of the 22 holes. The near-surface intercept graded 1.55% cobalt, 0.65% nickel, 0.61 g/t gold and 8.8 g/t silver over 0.65 metres.

Also in November the company teamed up with Granada Gold Mine TSXV:GGM to announce a provisional milling agreement for a plant that would be located on Castle Silver’s property near the town of Gowganda, about 204 kilometres by road from the Granada project. Granada has a 2014 pre-feasibility study and a June resource update.

Southeast of Gowganda and within Ontario’s Cobalt camp, Castle Silver also holds the past-producing Violet and Beaver mines.

More news from Rockcliff Metals as geophysics heightens interest in former Manitoba gold mine

November 30th, 2017

by Greg Klein | November 30, 2017

Just two days after announcing an adjacent acquisition, Rockcliff Metals TSXV:RCLF reported 17 high-priority geophysical anomalies on its Laguna gold project, one of several gold and VMS properties in the company’s Flin Flon-Snow Lake portfolio. The latest news comes from 40.5 kilometres of induced polarization and resistivity over the Laguna gold mine trend. Described as a five-by-one-kilometre gold-rich, sulphide-bearing quartz vein environment, the trend hosts a former mine that averaged about 19 g/t during intermittent operation between 1916 and 1939, producing over 60,000 ounces.

More news from Rockcliff Metals as geophysics heightens interest in former Manitoba gold mine

The survey’s tight spacing “allowed excellent surface resolution and superior depth penetration up to 250 metres vertical,” Rockcliff stated. The 17 anomalies “were strategically located mostly below and along strike of known gold-bearing sulphide-rich quartz veins and are all considered worthy of follow-up exploration,” the company added.

Winter plans call for more IP and resistivity along strike and in the footwall of the trend.

Noting that grab sample assays from the area ranged from trace to over 620 g/t, president/CEO Ken Lapierre said, “The Laguna gold mine trend was last drilled in 1944 and now definition of these new untested gold targets is a testament to the excellent untested gold potential at Laguna.”

Covering over 45,000 hectares in central Manitoba, Rockcliff’s Snow Lake portfolio includes five gold projects, two copper-polymetallic deposits with resource estimates, three zinc deposits with historic, non-43-101 estimates, and a non-core zinc project recently optioned to Nevada Zinc TSXV:NZN. The properties all sit within trucking distance of two Hudbay Minerals TSX:HBM processing facilities.

Rockcliff’s Bur zinc-copper deposit currently has drilling underway for about 15 holes totalling 3,000 metres, while the company’s 51%-optioned Talbot copper-zinc-polymetallic property has a resource update in progress.

Read more about Rockcliff Metals here and here.

New mineralogical understanding brings new focus to Maple Gold Mines’ Douay drill program

November 29th, 2017

by Greg Klein | November 29, 2017

New mineralogical understanding brings new focus to Maple Gold Mines’ Douay drill program

A chart outlines the new target area as well as five priority clusters for a resource update.

 

Heralding “significant breakthroughs” in recognizing the Douay project’s similarities to other Abitibi deposits, Maple Gold Mines TSXV:MGM looks forward to more drilling in mid-January. The company, formerly Aurvista Gold, spent several months re-evaluating previous drill results and identifying a new target area to share priority with resource expansion.

The 37,000-hectare property stretches 55 kilometres of strike along Quebec’s Casa Berardi fault zone.

New mineralogical understanding brings new focus to Maple Gold Mines’ Douay drill program

Field preps begin for a program of 25,000 to
30,000 metres at Maple Gold Mines’ Abitibi project.

Following the last winter-spring program, Maple re-logged over 5,000 metres of selected core and conducted initial interpretation of XRF geochemical data from over 46,000 core samples. One breakthrough was the realization that syenitic intrusive rocks in the current resource area, about seven kilometres long, extend for an additional three kilometres in strike. Another breakthrough was a new high-priority target that’s “virtually untested by previous diamond drilling.”

A syenite-associated gold system hosts most of Douay’s current resource, which uses a base case 0.5 g/t cutoff for seven zones totalling an inferred 83.3 million tonnes averaging 1.05 g/t for 2.81 million gold ounces. The deposit remains open along strike and down plunge. “This intrusive-associated style of mineralization is also present at several recently discovered and/or developed Abitibi deposits, including Malartic, Young-Davidson and Windfall,” the company emphasized.

The new high-priority area, called the NE Syenite target, lies 2.6 kilometres from Douay’s Porphyry zone. Measuring about six kilometres by one kilometre, the area features a paired high/low magnetic response and underwent eight RC holes that intersected syenite or felsic intrusive rock, the company explained. A single historic diamond drill hole found about 150 metres of syenite and foliated mafic tuff. Maple has at least 11 holes planned for the target.

Another priority will be step-out drilling from the resource area, focusing on five clusters of impressive past results.

Maple also plans a remote spectral geology survey over outcrops west of the deposit to set targets for summer mapping and geochemical sampling.

Maple’s behind-the-scenes prepping coincided with a company transition, bringing new turf that more than doubled the property size, a new technical advisory committee, new management and board appointments including Ivanhoe veteran Matthew Hornor as president/CEO, and $10.1 million in private placements, as well as the new company name and ticker.

Douay’s last drill program sunk 59 holes for 23,965 metres, with the final assays released in July.

Mountain Boy/Jayden hit 8.63 g/t over 7.72 metres in new Golden Triangle gold zone

November 28th, 2017

by Greg Klein | November 28, 2017

Strong assays from a previously unexplored area 550 metres northeast of the Silver Coin deposit indicate a new gold zone on the northwestern British Columbia property, according to the JV partners. With 80% and 20% interests respectively, Jayden Resources TSXV:JDN and Mountain Boy Minerals TSXV:MTB announced the discovery from a recently completed 14-hole, 2,226-metre program.

Highlights from five holes released November 28 include:

Mountain Boy/Jayden hit 8.63 g/t over 7.72 metres in new Golden Triangle gold zone

Magnificent scenery doesn’t distract attention
from high-grade gold at Silver Coin.

Hole SC17-444

  • 8.08 g/t gold and 4.7 g/t silver over 2 metres, starting at 94.03 metres in downhole depth
  • (including 13.7 g/t gold and 5.91 g/t silver over 1 metre)

SC17-445

  • 5.12 g/t gold and 91.3 g/t silver over 3 metres, starting at 35 metres

  • 5.38 g/t gold and 17.07 g/t silver over 7.3 metres, starting at 146.2 metres
  • (including 6.21 g/t gold and 12.06 g/t silver over 5.37 metres)
  • (and including 15.5 g/t gold and 17.1 g/t silver over 1 metre)
  • (and including 10.7 g/t gold and 18 g/t silver over 0.5 metres)

SC17-446

  • 5.9 g/t gold and 45.32 g/t silver over 1.8 metres, starting at 103.6 metres
  • (including 8.62 g/t gold and 42.6 g/t silver over 0.8 metres)

  • 14.6 g/t gold and 52.5 g/t silver over 1 metre, starting at 131.2 metres

SC17-452

  • 8.63 g/t gold and 11.99 g/t silver over 7.72 metres, starting at 16.46 metres
  • (including 17.69 g/t gold and 23 g/t silver over 3.2 metres)

  • 4.86 g/t gold and 5.68 g/t silver over 2.5 metres, starting at 77.82 metres
  • (including 6.46 g/t gold and 6.22 g/t silver over 1.5 metres)

  • 8.25 g/t gold over 1 metre, starting at 88.97 metres

True widths were estimated between 60% and 80%. More assays are pending.

As for the main Silver Coin deposit, using a 2 g/t gold cutoff its 2013 resource shows an inferred category of 967,000 tonnes averaging 4.39 g/t gold, 18.98 g/t silver, 0.64% zinc, 0.25% lead and 0.04% copper.

The 1,470-hectare property hosts a zone of faulting and shearing with mineralization up to 300 metres wide and 2.5 kilometres long, the JV partners stated. They consider Silver Coin to share many characteristics with the former Silbak-Premier mine five kilometres south, which produced an estimated 1.8 million ounces gold, 41 million ounces silver, 4.2 million pounds copper, 62 million pounds lead and 20 million pounds zinc.

Meanwhile Mountain Boy has been reporting high grades and visible gold from another Golden Triangle drill campaign, as the company’s 35%-held Red Cliff project advances towards its maiden resource.

A drill program on two contiguous Golden Triangle properties, Mountain Boy’s 100%-held BA and Surprise Creek silver-base metals projects, awaits analysis of results from an airborne VTEM and magnetic survey.

Having closed a $586,400 private placement in September, the company offered a $300,000 private placement last month.

Read Isabel Belger’s interview with Mountain Boy Minerals chairperson René Bernard.

See an infographic about B.C.’s Golden Triangle.

Rockcliff Metals adds another gold property to its polymetallic package in Manitoba

November 28th, 2017

by Greg Klein | November 28, 2017

An “opportunist” acquisition increases the gold presence on Rockcliff Metals’ (TSXV:RCLF) Snow Lake portfolio. The 2,557-hectare Lucky Jack property borders the company’s Laguna project, host to a former mine and site of an airborne geophysical program last summer.

Limited exploration on Lucky Jack dates to the 1920s, when a shaft was reportedly sunk on a quartz vein system measuring about 1,000 metres long and up to 25 metres wide. Historic, non-43-101 results for 21 grab samples from the shaft area averaged 66 g/t gold.

Rockcliff Metals adds another gold property to its Manitoba gold/VMS package

Channel samples in 1982 showed non-43-101 assays including 11 g/t gold over 0.4 metres and 44.2 g/t over 1.4 metres, with gold values recorded over a 130-metre strike. Near-surface drilling in 1988 brought non-43-101 results of 8.9 g/t gold over one metre, 15.9 g/t over one metre, 19.6 g/t over 0.5 metres and 32.5 g/t over 0.5 metres.

About 1.7 kilometres west of the shaft, another near-surface hole sunk in 1985 brought non-43-101 intervals of 5.6 g/t gold over 0.3 metres, 11.5 g/t over 0.46 metres and 58.5 g/t over 0.4 metres. Samples taken about 5.5 kilometres northwest of the shaft brought non-43-101 assays up to 20.6 g/t gold.

Lucky Jack costs Rockcliff $77,250. Seven of the property’s 15 claims have a 2% NSR applicable, half of which Rockcliff may buy for $500,000 per 0.5%.

Although Rockcliff currently focuses on its VMS projects, Lucky Jack brings the company’s gold portfolio to five properties including Laguna, Dickstone North, Snow Lake and last month’s acquisition of Berry Creek.

The company’s Snow Lake package also includes two copper-polymetallic deposits with resource estimates and three zinc deposits with historic, non-43-101 estimates. The properties all sit within trucking distance of two processing facilities owned by Hudbay Minerals TSX:HBM.

Following Phase II drilling on the 51%-optioned Talbot copper-zinc-polymetallic property, Rockcliff has a resource update underway. Drilling resumed this month on the Bur zinc-copper deposit, with a program of about 15 holes totalling 3,000 metres.

Read more about Rockcliff Metals here and here.