Wednesday 22nd November 2017

Resource Clips


Posts tagged ‘Jayden Resources Inc (JDN)’

Mountain Boy Minerals hits high-grade gold as drills turn on three B.C. properties

September 28th, 2017

by Greg Klein | September 28, 2017

With initial results in from one of Mountain Boy Minerals’ (TSXV:MTB) three current drill programs at British Columbia’s Golden Triangle, assays show some of the grades that make the region so attractive. So far 33 holes have been completed at the Red Cliff property, 28 on the Montrose zone and five on the Red Cliff zone. The first batch of assays covered five holes from each zone, with Montrose hitting as high as 19.9 g/t gold over 4.12 metres and 9.98 g/t over 3.35 metres. Drilling extended Montrose at depth and along strike, showing the campaign’s best results:

Hole DDH-MON-3

  • 1.53 g/t gold over 3.05 metres, starting at 227.44 metres in downhole depth
Mountain Boy Minerals hits high-grade gold as drills turn on three B.C. properties

  • 1.06 g/t over 0.46 metres, starting at 231.55 metres

  • 9.98 g/t over 3.35 metres, starting at 248.48 metres

DDH-MON-4

  • 2.61 g/t over 2.28 metres, starting at 244.97 metres

  • 19.5 g/t over 0.76 metres, starting at 256.25 metres

  • 5 g/t over 2.13 metres, starting at 264.33 metres

DDH-MON-5

  • 2 g/t over 5.74 metres, starting at 279.73 metres

  • 1.07 g/t over 0.74 metres, starting at 310.52 metres

  • 19.9 g/t over 4.12 metres, starting at 311.28 metres

True widths weren’t provided. Two selected chip samples from Lower Montrose excelled with grades of 390 g/t and 35.7 g/t gold.

Five other holes targeted the Red Cliff zone, about 1.2 kilometres south. Highlights showed:

RC-17-3

  • 6.4 g/t gold and 3.37% copper over 0.61 metres, starting at 53.23 metres

RC-17-4

  • 1.6 g/t gold and 4.89% copper over 0.46 metres, starting at 37.01 metres

Again, true widths weren’t provided. Two other Red Cliff zone holes showed low values, the company stated.

At the project’s Waterpump zone, meanwhile, a grab sample returned 11.6 g/t gold and a chip sample graded 19.2 g/t.

Mountain Boy considers Montrose, Lower Montrose and Waterpump to be a single zone that was displaced by faulting. Expected to continue another six weeks, the Red Cliff program has several holes slated at depth on Montrose and to the west, as well as six to eight others for Waterpump.

Mountain Boy holds a 35% interest in Red Cliff in a joint venture that has recently acquired additional claims.

The Silver Coin project’s current drill program calls for about 2,000 metres to extend and upgrade lenses of high-grade gold mineralization within the Main Breccia zone to the northwest and to test targets along strike to the south and east.

Using a 2 g/t gold cutoff, a 2013 resource for Silver Coin’s four zones totals:

  • indicated: 702,000 tonnes averaging 4.46 g/t gold, 17.89 g/t silver, 0.88% zinc, 0.33% lead and 0.07% copper

  • inferred: 967,000 tonnes averaging 4.39 g/t gold, 18.98 g/t silver, 0.64% zinc, 0.25% lead and 0.04% copper

Mountain Boy holds a 20% interest in Silver Coin, with the remainder held by JV partner Jayden Resources TSXV:JDN.

And the third drill program has just begun, as the Ataman zone on Mountain Boy’s 100%-held Surprise Creek undergoes 500 to 600 metres to test and sample barite, a mineral essential to oil and gas exploration. Last July the company announced production of a barite concentrate exceeding American Petroleum Institute standards.

Earlier this week Mountain Boy closed a private placement of $586,400.

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

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

Drilling, sampling, optioning: Mountain Boy Minerals updates B.C. activities

September 13th, 2017

by Greg Klein | September 13, 2017

Demonstrating that a diverse portfolio doesn’t necessarily mean idle properties, Mountain Boy Minerals TSXV:MTB updated several projects in northwestern British Columbia’s Golden Triangle.

Drilling has just resumed at Silver Coin, held 20% by Mountain Boy and 80% by joint venture partner Jayden Resources TSXV:JDN. Acting as operator is Sprott Mining Inc on a campaign of about 6,000 metres mostly focusing on stepouts. The agenda also calls for regional exploration on the 1,470-hectare property.

Silver Coin hosts a 2013 43-101 resource that uses a 2 g/t gold cutoff to show a total for four zones:

  • indicated: 702,000 tonnes averaging 4.46 g/t gold, 17.89 g/t silver, 0.88% zinc, 0.33% lead and 0.07% copper

  • inferred: 967,000 tonnes averaging 4.39 g/t gold, 18.98 g/t silver, 0.64% zinc, 0.25% lead and 0.04% copper
Drilling, sampling, optioning: Mountain Boy Minerals updates B.C. activities

Mountain Boy awaits assays from Red Cliff,
where core from five holes has revealed visible gold.

Drilling continues at the Red Cliff property, where 25 holes have been completed so far with assays pending. In July Mountain Boy reported visible gold in the program’s first five holes. Red Cliff also has sampling underway at the Lower Montrose and Waterpump zones. The latter has drilling planned, once sampling assays arrive.

Mountain Boy has a 35% interest in Red Cliff, with JV partner Decade Resources TSXV:DEC holding the rest. The ownership gets more complicated, however, now that the two companies have teamed up on additional claims to the southeast. The acquisition gives the JV an earn-in total of up to 80% of the extension, with 28% to be held by Mountain Boy and 52% by Decade. The size of neither the original Red Cliff property nor the additional claims was reported. Mountain Boy and Decade share overlapping management and directors.

TSXV approval came through earlier this month for Mountain Boy’s 100% options on the Surprise Creek and BA properties, both formerly 50/50 JVs with Great Bear Resources TSXV:GBR. Over $12 million of exploration has gone into the nearby projects over the last 10 years, revealing zones of high-grade zinc, lead and silver, as well as zinc, copper and silver.

Prior to a drill program expected later this month, the 7,472-hectare Surprise Creek has sampling underway on a large barite zone and on areas of VMS mineralization revealed by historic sampling. In July the company announced successful production of a barite concentrate that surpassed American Petroleum Institute standards. The mineral is considered essential to oil and gas exploration.

Additional sampling has taken place on the 9,489-hectare BA VMS project, just north of a 2016 channel sample result that returned 3.84% zinc, 1.25% lead and 108 g/t silver over 15 metres. That included a sub-interval of 5.31% zinc, 1.97% lead and 132 g/t silver over 7.5 metres.

Mountain Boy also optioned 60% of West George, a 288-hectare copper property adjacent to the company’s George copper project that the company now holds 100%. The original George has non-43-101 copper-silver-gold estimates. West George has sampling underway.

Meanwhile assays are pending for recent sampling from MB Silver, a project with historic, non-43-101 polymetallic estimates. In southern B.C., Mountain Boy plans to begin PEA studies on its 100%-held Manuel Creek zeolite project.

The company expects to soon close a private placement of up to $1 million.

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

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

Mountain Boy advances B.C. polymetallic, industrial minerals projects

March 30th, 2017

by Greg Klein | March 30, 2017

Among other plans announced March 30, Mountain Boy Minerals TSXV:MTB intends to conduct metallurgical studies for its Surprise Creek joint venture in northwestern British Columbia. Tests will evaluate one interval of drill core reported in February that shows barite, silver, copper and zinc. Barite is mainly used as an ingredient in drilling mud for oil and gas exploration.

Metallurgical results will guide further Surprise Creek exploration, expected to include surface sampling and drilling. Mountain Boy acts as operator on the 7,472-hectare property in a 50/50 JV with Great Bear Resources TSXV:GBR.

Mountain Boy advances B.C. polymetallic, industrial minerals projects

Rugged terrain and high grades
characterize the former Montrose mine.

In southern B.C., Mountain Boy has begun discussions with the Lower Similkameen Indian Band prior to PEA studies on the Manuel Creek zeolite project acquired last December. With numerous agricultural uses for the commodity, this 1,062-hectare project holds the advantage of location in the Okanagan farming region.

Back in the province’s northwest, two companies have surface sampling and drilling planned this year for Red Cliff, held 35% by Mountain Boy and 65% by Decade Resources TSXV:DEC. Amid mountainous terrain, plans call for a drone and climbers to locate a 1988 drill collar to sample the zone and confirm previous results from the former gold-copper mine.

Underground drilling will test above and below the property’s 1,000 mine level, which has previously revealed several high-grade intercepts. Some examples include:

  • 37.26 g/t gold and 6.07% copper over 0.91 metres

  • 21.94 g/t gold and 0.76% copper over 4.42 metres

  • 29.93 g/t gold and 1.57% copper over 1.9 metres.

Additional drilling will help define the property’s Montrose zone. Even higher values have been found here:

  • 5.18 g/t gold and 0.43% copper over 12.65 metres

  • 43.91 g/t gold and 1.46 % copper over 7.47 metres

  • 14.53 g/t gold and 0.27% copper over 30.64 metres

Metallurgical studies will also take place.

From 1939 to 1941, mining at Montrose extracted 65 tons averaging 2.45 ounces per ton gold, 2.95 ounces per ton silver, 0.91% copper, 3.5% lead and 4.41% zinc.

Mountain Boy and Great Bear also share the nearby BA VMS project, from where they reported high-grade polymetallic samples in January.

Along with 80% partner Jayden Resources TSXV:JDN, Mountain Boy holds a 20% interest in another property in B.C.’s Golden Triangle, Silver Coin. Using a 0.3 g/t gold cutoff, the project’s 2011 resource shows a measured and indicated total of 842,416 ounces gold, 4.46 million ounces silver and 91.17 million pounds zinc. The inferred category comes to 813,273 ounces gold, 6.69 million ounces silver and 128 million pounds zinc.

Mountain Boy’s regional portfolio also includes the MB project, with historic, non-43-101 estimates for copper, lead, zinc, silver and barite. Grab samples from last year assayed as high as 31,192 g/t silver. The company additionally holds a 50% stake in the George property, which has historic, non-43-101 estimates for copper, silver and gold.

In mid-March the company closed a private placement totalling $231,619.

Mountain Boy Minerals reports barite-polymetallic results from NW B.C.

February 2nd, 2017

by Greg Klein | February 2, 2017

An explorer with extensive assets in northwestern British Columbia’s Golden Triangle, Mountain Boy Minerals TSXV:MTB announced a “major base metal-silver-barite zone” at the Surprise Creek property. The company acts as project operator on the 50/50 JV with Great Bear Resources TSXV:GBR.

Of two holes sunk late last year, one missed a polymetallic VMS-related occurrence called the Ataman zone. But DDH-SC-2 returned the following intercepts, announced February 2:

  • 0.12 g/t gold, 28 g/t silver, 1.21% zinc, 0.03% lead, 0.31% copper and 46.73% barite over 18.94 metres, starting at 58.26 metres in downhole depth

  • (including 0.11 g/t gold, 44.75 g/t silver, 4.31% zinc, 0.05% lead, 0.33% copper and 67% BaSo4 over 4.58 metres)

  • (which includes 0.09 g/t gold, 70.7 g/t silver, 6.49% zinc, 0.09% lead, 0.56% copper and 60.48% BaSo4 over 2.14 metres)
Mountain Boy Minerals reports barite-polymetallic results from NW B.C.

A helicopter lands at the BA project,
part of the same JV with Surprise Creek.

True widths weren’t available. The hole appeared to end in mineralization but drilling stopped due to weather.

Further work this year “will target this extensive barite horizon,” Mountain Boy stated. The Ataman zone has been traced across approximately 1.2 kilometres of strike. The 7,472-hectare Surprise Creek property sits immediately north of a highway.

Barite is used as a drilling mud in the oil and gas industry. Imports to Canada and the U.S. come to about 400,000 tonnes of industrial-grade barite and 3.6 million tonnes of oilfield barite, the company stated.

The JV also covers the nearby BA VMS project. Some highlights from samples reported last month from a three-by-two-kilometre area of the Big Red target showed:

  • 14.3% lead and 1,080 g/t silver
  • 32.4% lead and 417 g/t silver
  • 20.3% zinc, 6.73% lead, 255 g/t silver and 100 ppb gold
  • 33.1% zinc, 1.57% lead and 192 g/t silver
  • 4.41% copper and 142 ppb gold

Big Red has additional exploration planned this year, but the BA property’s eponymous BA zone remains the project’s primary focus. In December Mountain Boy released channel sample results from the zone, with some highlights showing:

  • 3.84% zinc, 1.25% lead and 107.65 g/t silver over 15 metres
  • (including 5.31% zinc, 1.97% lead and 132.44 g/t silver over 7.5 metres)

  • 2.42% zinc, 0.55% lead and 99.41 g/t silver over 12 metres
  • (including 3.2% zinc, 0.72% lead and 119.68 g/t silver over 6 metres)
  • (which includes 5.12% zinc, 0.83% lead and 102.85 g/t silver over 3 metres)
Mountain Boy Minerals reports barite-polymetallic results from NW B.C.

An aerial view of the MB project.

Another Mountain Boy asset in B.C.’s Golden Triangle is the MB project. Grab samples taken last year from the property’s High Grade zone assayed as high as 31,192 g/t silver, with averages of 4,795.16 g/t silver, 3.35% zinc, 0.837% lead and 1.38% copper.

Sampling from MB’s Mann zone averaged 750.48 g/t silver, 9.02% zinc, 2.61% lead and 0.303% copper.

MB has an historic, non-43-101 indicated estimate for three veins totalling 105,555 tonnes averaging 0.064% copper, 0.69% lead, 2.01% zinc, 208.9 g/t silver and 13.59% barite.

The company’s portfolio includes a 20% interest in the Silver Coin project, in which Jayden Resources TSXV:JDN holds the remainder. A 2011 resource gave the project a measured and indicated total of 842,416 ounces gold, 4.46 million ounces silver and 91.17 million pounds zinc. The inferred category came to 813,273 ounces gold, 6.69 million ounces silver and 128 million pounds zinc. Further drilling is planned this year.

Mountain Boy also holds a 35% interest in Decade Resources’ (TSXV:DEC) Red Cliff project, which has modelling and additional drilling slated for 2017.

Just west of the BA project, Mountain Boy’s 50%-held George property has historic, non-43-101 estimates for copper, silver and gold.

In December Mountain Boy announced the purchase of the 1,062-hectare Manuel Creek zeolite and pozzolan property in southern B.C.’s Okanagan region, where work on a resource estimate should start in early spring. The company noted that zeolite is used in applications such as soil amendments and hydroponics, water filtration, livestock feed enhancement and waste management.

The company offered a private placement of up to $1.2 million in December.

Small Cap, Big Plans

September 20th, 2011

Otterburn drills Palladium-Platinum in Finland

By Greg Klein

(UPDATE: Effective Sept. 26, 2011, Otterburn Ventures Inc will change its name to Finore Mining Inc. The company’s CNSX trading symbol will change from OTB to FIN.)

Nano-caps—companies with market caps often well below $75 million—”have the greatest potential for outsize performance,” according to Paul Zweng, a Portfolio Manager with Resource Venture Advisors. “You can literally generate 10-times returns with these tiny companies.” Needless to say, there is risk. “That is why you really need to understand the geology, the prospectivity and the management team,” he emphasizes. “Are these people who can husband their money and their resources carefully?”

Following Zweng’s advice, these would be the criteria to evaluate Otterburn Ventures’ recently optioned Läntinen Koillismaa Project (LK) in Finland. A palladium-platinum property with gold, copper and nickel, it’s further advanced than the projects Zweng referred to, despite Otterburn’s nano $14-million cap. LK already has a resource estimate, an experienced drill team, a highly regarded management team and, Otterburn President Steven Green says, plenty of blue-sky potential.

Otterburn drills Palladium-Platinum in Finland

Value for money was what brought Otterburn to Finland and LK. The company pulled out of a venture in Tanzania when drill results turned spotty. “We decided we’d better preserve our cash and look at properties elsewhere,” Green explains. “Shortly thereafter, the opportunity in Finland came up. After the Tanzanian experience, we really wanted to see the stability of the country and the stability of the mining environment. Then on top of that you’re looking for all the usual things related to a potential property—that it’s underfunded but doesn’t have any serious flaws, that politically and environmentally it looks like it has growable mineralization. That’s what attracted us to LK. I went over in mid-July, and what I found were four interesting properties. A good, small, knowledgeable staff was on site; they knew what they wanted to do and why they wanted to do it. It looks like there’s a lot of potential along strike and at depth. It has power, a lot of infrastructure. This is a country that is quite interested in mining. In fact, the local community could actually get involved in funding. There’s a nearby vanadium mine that they’re opening, and the community is actually investing in it. We thought we had a much more attractive place to do business.”

A February 2011 resource by Nortec Minerals estimates 60,332 ounces palladium, 19,492 ounces platinum, 6,497 ounces gold, 4,908 tonnes copper and 3,464 tonnes nickel indicated and 378,263 ounces palladium, 133,007 ounces platinum, 91,279 ounces gold, 63,153 tonnes copper and 40,534 tonnes nickel inferred. The estimate covers just two of LK’s four properties and suggests potential large-tonnage, open-pit mining.

A JV with Nortec came through last August, granting Otterburn the option to acquire up to an 80% interest in LK. The agreement has Otterburn earning the initial 49% by paying Nortec $4.5 million, issuing Nortec $2 million in shares and spending $5 million on the project. As for the additional 31%, Otterburn must pay Nortec $3 million, issue Nortec $1 million in shares and spend $5 million. Otterburn must also issue 400,000 common shares to Nortec and 1.85 million common shares to a third party as a finder’s fee.

Green says that even without the extra financing that Otterburn is now working on, the company has enough cash on hand for up to a year of drilling. The next program starts in November, despite LK’s location 65 kilometres south of the Arctic Circle.

“There are sections in all four properties which are on hard ground; they can be drilled any time of the year,” Green says. “There’s an all-weather highway right in the middle of it, power lines right through the middle of it and a rail head about 40 kilometres south. A two-hour drive along the highway takes you to the city of Oulu, which has the main airport and a seaport leading to the Baltic.”

It looks like we could turn this into a potential operating deposit which would give us revenue. We’re in a stable environment; we’ve got room to grow; and we’ve got a good team in place —Steven Green

Green explains that, apart from drilling, geophysics normally constitute the largest exploration expense, and this is an expense Otterburn won’t face for some time, thanks to the advance work done by Nortec.

As it explores the property further, Otterburn intends to apply for a listing on a more senior stock exchange.

Returning to Zweng’s criteria for a successful nano-cap—”the geology, the prospectivity and the management team”—it’s time to ask whether the company is led by “people who can husband their money and their resources carefully.”

A geologist with over 25 years’ experience, Green has worked for Freeport McMoRan, Noranda, Santa Fe Pacific Gold and Cambior. Most recently, he took charge of geological data for Fronteer’s US operations. With experience in Alaska and northern Canada, he’s undaunted by Finland’s Arctic.

CEO/Director Peter Hughes is co-founder of Pirie Hughes Consulting and has over 25 years of management experience in pharmaceuticals, alternative energy and mineral exploration.

Director David Eaton also acts as CEO/Executive Director of Jayden Resources and Managing Director of the Baron Group, a few highlights of his more than 20 years experience building junior resource companies.

Geological Adviser Lawrence Dick is noted for a number of significant discoveries and holds or has held senior positions with companies including Jayden Resources, Sprott Resource, Golden Fame Resources, Evolving Gold, Timmins Gold and Confederation Minerals.

As if he’s directly addressing Zweng’s criteria, Green sums up the LK Project this way: “We have an interesting platinum-palladium property with gold, copper and nickel. It looks like we could turn this into a potential operating deposit which would give us revenue. We’re in a stable environment; we’ve got room to grow; and we’ve got a good team in place.”

At press time Otterburn had $3.5 million in cash and 38.4 million shares at $0.34 for a $13.1 million market cap.

Disclaimer: Otterburn Ventures Inc is a client of OnPage Media.

Disclaimer: Jayden Resources Inc is a client of OnPage Media.

A Fresh Look

September 20th, 2010

All about the Infrastructure

September 13th, 2010