Thursday 23rd November 2017

Resource Clips


Posts tagged ‘silver’

Resource update underway for Rockcliff Metals’ Talbot copper property in Manitoba

November 15th, 2017

by Greg Klein | November 15, 2017

One of a number of active projects in Rockcliff Metals’ (TSXV:RCLF) Flin Flon-Snow Lake portfolio, the Talbot copper property has an updated resource estimate in the works. The initiative follows Phase II drilling and will accompany a DPEM geophysical survey on the West Talbot deep conductive plate, below and west of the deposit. In April the company announced finding VMS mineralization within the plate.

Resource update underway for Rockcliff Metals’ Talbot copper property in Manitoba

While analyzing this year’s drilling data for a resource update,
Rockcliff will conduct geophysics to help identify 2018 targets.

Rockcliff holds a 51% option on Talbot from Hudbay Minerals TSX:HBM.

Last spring’s drill campaign “identified additional areas of high-grade enrichment in the hanging wall and along strike of the present resource,” said president/CEO Ken Lapierre. “The additional DPEM geophysical survey will help us vector in on the exact up-dip location of the West Talbot deep conductive plate. The Talbot copper deposit was originally identified as a smaller geophysical conductive plate so any new larger plates identified in this area are viewed as high-priority targets.”

Dating to January 2016, Talbot’s current resource shows an inferred category for three zones:

Main zone

  • 1.44 million tonnes averaging 3.4% copper, 2.6 g/t gold, 2.4% zinc and 61 g/t silver for 107 million pounds copper, 118,600 ounces gold, 76.4 million pounds zinc and 2.83 million ounces silver

Footwall zone

  • 443,900 tonnes averaging 2.2% copper, 2 g/t gold, 2.4% zinc and 55.6 g/t silver for 22 million pounds copper, 28.5 ounces gold, 23.2 million pounds zinc and 793,800 ounces silver

North lens

  • 283,400 tonnes averaging 0.7% copper, 2 g/t gold, 1.3% zinc and 20.6 g/t silver for 4.6 million pounds copper, 18,300 ounces gold, 7.9 million pounds zinc and 187,600 ounces silver

Total

  • 2.17 million tonnes averaging 2.8% copper, 2.4 g/t gold, 2.2% zinc and 54.6 g/t silver for 133.6 million pounds copper, 165,400 ounces gold, 107.4 million pounds zinc and 3.81 million ounces silver

Rockcliff expects work to be completed by year-end, with results to be released once analyzed. Talbot has more drilling planned for 2018.

Active on several Snow Lake assets, the company began another drill campaign last week at the Bur zinc-polymetallic property. See a roundup of recent Rockcliff news here.

Read more about Rockcliff Metals here and here.

Cambridge House International president Jay Martin looks forward to the San Francisco Silver and Gold Summit on November 20 and 21

November 14th, 2017

…Read more

Castle Silver Resources drills 1.55% cobalt over 0.65 metres with nickel, gold and silver in Ontario

November 13th, 2017

by Greg Klein | November 13, 2017

Last summer’s drilling at Ontario’s former Castle mine “intersected mineralization in each and every hole,” Castle Silver Resources TSXV:CSR reported November 13. The one assay released so far hit 1.55% cobalt, 0.65% nickel, 0.61 g/t gold and 8.8 g/t silver over 0.65 metres starting near surface at 3.85 metres in downhole depth. The company estimates true width between 65% and 85%.

Drilling finished in late August when an originally planned 1,500-metre program completed 22 holes totalling 2,405 metres.

Castle Silver Resources drills 1.55% cobalt over 0.65 metres with nickel, gold and silver in Ontario

Castle Silver expanded its summer campaign
from 1,500 metres to 2,405 metres.

“Once again we’ve demonstrated how historical operators overlooked the potential for cobalt, gold and base metals at the Castle mine as they focused exclusively on the extraction of high-grade silver,” said president/CEO Frank Basa.

“We will carry out trenching to follow up on an array of new near-surface targets generated by this drilling in the immediate vicinity of the Castle mine. But our priority now is to complete final preparations to carry out critical trenching and drilling of untested structures on the first level of the mine.”

With intermittent production between 1917 and 1989, the former mine has 11 levels totalling about 18 kilometres of underground workings. “This does not include an unknown extent of drilled vein structures which were never mined, typically due to silver grades below a certain high-grade threshold, for which CSR has records,” the company added.

Using XRF analysis, an independent firm has found potential for high-grade cobalt mineralization within unmined structures along first-level adit drifts and walls. In July Castle Silver released results from an 82-kilogram bulk sample of vein material that showed 1.48% cobalt as well as 5.7 g/t gold and 46.3 g/t silver. As a result, the company re-evaluated five previous chip samples for gold, with results averaging 3.7 g/t. The samples originally assayed 1.06% cobalt, 5.3% nickel and 17.5 g/t silver.

Earlier this month Castle Silver and Granada Gold Mine TSXV:GGM announced a provisional milling agreement for a plant that would be located on Castle Silver’s property in Gowganda, Ontario. About a 204-kilometre drive from Gowganda, Granada’s project reached pre-feas in 2014 and a resource update in June.

Castle Silver closed the final tranche of a private placement totalling $1.2 million in June.

Mining commentator Stan Sudol says undue emphasis on the gold rushes stifles Canadians’ understanding of a vital industry

November 10th, 2017

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Update: Rockcliff Metals drills high-grade Manitoba zinc project

November 7th, 2017

Update: On November 7 Rockcliff Metals TSXV:RCLF (formerly Rockcliff Copper TSXV:RCU) announced drilling had begun at its Bur zinc project in northern Manitoba.

by Greg Klein | September 26, 2017

A high-grade zinc-polymetallic project gets some overdue rig attention as Rockcliff Copper TSXV:RCU returns to its Bur property in northern Manitoba’s Flin Flon-Snow Lake camp next month. Ten to 15 holes totalling around 3,000 metres will work on updating and expanding the VMS deposit along strike and at depth.

Using a zinc-equivalent cutoff of 5%, the historic, non-43-101 2007 estimate showed:

  • 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 Copper prepares to drill northern Manitoba zinc deposit

Part of the company’s Snow Lake project, a package of properties totalling over 45,000 hectares, Bur sits about 22 kilometres by road from Hudbay Minerals’ (TSX:HBM) copper-zinc concentrator. Rockcliff’s 100% earn-in on Bur calls for $3 million in spending over four years.

Earlier this month the company announced initial geophysical results from its Laguna property, site of a former mine that produced 60,000 ounces of gold averaging 18.7 g/t during intermittent production from a single vein. With very low frequency and induced polarization surveys still underway, an airborne magnetometer found “multiple, surface-exposed, high-grade gold-bearing quartz vein stockwork systems,” the company stated.

Last May Rockcliff announced plans for two other Snow Lake gold properties as well as Laguna. The previous month the company reported drilling had encountered a new VMS zone with copper-zinc-gold-silver results on the 51%-optioned Talbot property. A 2016 43-101 inferred resource for Talbot’s three zones totals 133.6 million pounds copper, 165,400 ounces gold, 107.4 million pounds zinc and 3.81 million ounces silver.

Rockcliff’s northern Manitoba package also includes the Rail deposit with a 43-101 copper-polymetallic resource, three zinc deposits with historic, non-43-101 estimates in addition to Bur, as well as the three gold properties. All sit within trucking distance of two Hudbay plants.

Late last month Rockcliff closed an oversubscribed private placement of $1.35 million.

Read more about Rockcliff Copper here and here.

Drilling begins as Kapuskasing tests historic high-grade copper in Newfoundland

November 3rd, 2017

by Greg Klein | November 3, 2017

A non-43-101, historic estimate of about a million tonnes averaging 1% copper has Kapuskasing Gold TSXV:KAP working to prove up a resource at its Lady Pond project in northern Newfoundland. Now underway, the first phase of modern drilling will sink eight to 12 holes totalling about 1,000 metres on the 2,450-hectare property.

Drilling begins as Kapuskasing tests historic high-grade copper in Newfoundland

Recent field work produced high-grade surface
samples from Kapuskasing’s Lady Pond copper project.

Three areas of interest are the Lady Pond prospect, the Twin Pond prospect and the Sterling prospect. The latter hosts a former mine and the historic, non-43-101 estimate that’s reportedly open in all directions. Some previous intercepts from Sterling, again historic and non-43-101, showed:

  • 5.5% copper over 4.42 metres, starting at 38.1 metres in downhole depth

  • 2.32% copper over 6.1 metres, starting at 106.68 metres

  • 1.45% copper over 4.57 metres, starting at 50.29 metres

Recent field work reported last month brought two Lady Pond surface grab samples grading 2.75% and 7.19% copper.

About 1.5 kilometres northeast, Twin Pond underwent 32 holes of drilling without an estimate being calculated. Some historic, non-43-101 highlights include:

  • 4.2% copper over 3.35 metres, starting at 82.3 metres

  • 2.16% copper over 3.05 metres, starting at 33.53 metres

  • 3.2% copper over 3.05 metres, starting at 70.14 metres

A recent grab sample from Twin Pond showed 9.03% copper.

One historic, non-43-101 assay for the Lady Pond prospect, about three kilometres northeast of Twin Pond, recorded 2.61% copper over 8.1 metres. A grab sample from the recent field work showed 0.089% cobalt, 1.54% copper and 9.4 g/t silver.

The property borders the town of Springdale and hosts logging roads and ATV routes. Another 94 kilometres by road sits Rambler Mining and Metals’ (TSXV:RAB) base metals mill. Rambler holds two historic, non-43-101 copper resources contiguous to Lady Pond.

In September Kapuskasing closed an option agreement on Daniel’s Harbour, a 1,050-hectare project on Newfoundland’s Great Northern Peninsula. Between 1975 and 1990, a former mine on the property produced around seven million tonnes averaging 7.8% zinc. The company considers Daniel’s Harbour prospective for additional Mississippi Valley-type deposits.

Just south of the peninsula, Kapuskasing holds the King’s Court copper-cobalt property.

The company closed private placements totalling $215,000 in August and $201,200 in June.

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

Bullion buyers beware: Fake bars and coins hit the market

November 1st, 2017

by Greg Klein | November 1, 2017

Pssst… Wanna buy an ounce of gold for a buck? One Vancouver Craigslist vendor’s offering such a deal, to be transacted in a “safe spot for the both of our safety” [sic]. The merchandise consists of a bar supposedly produced by the Royal Canadian Mint. The seller claims to have other gold bars and maple leaf coins available.

Bullion buyers beware: Fake bars and coins hit the market

Although the Royal Canadian Mint safeguards
its products, at least one fake has surfaced.

While it’s not clear what the $1 ploy intends to accomplish (and the offer changed as this story was being written), the sales pitch comes after CBC revealed that an Ottawa branch of the Royal Bank sold a fake one-ounce bar attributed to the Mint. The Mint denied supplying the fake, saying that counterfeits of its bullion products are “extremely rare and this is an isolated case.”

But as a number of critics responded, bullion and currency counterfeiters don’t normally produce one-off fakes.

That was a point also emphasized by two U.S. congressmen who chastised their country’s mint and Secret Service for not investigating a batch of fake American Eagle gold coins. As reported in Goldseek, their letter included what appeared to be a 1995 example. “You are free to keep it, as it’s a worthless tungsten fake,” the congressmen stated.

They go on to ask what investigations have taken place into fake bullion and what anti-counterfeiting measures are being introduced “to protect the integrity of U.S. coins minted specifically of gold, silver, platinum and palladium.”

A statement from Canada’s mint emphasizes its world-class assay lab and “advanced anti-counterfeiting features … such as Bullion DNA technology and micro-engraved security marks.”

Kitco referred to a recent statement from the Professional Numismatists Guild calling fake bullion a multi-million-dollar business. By happy coincidence a news outlet and bullion dealer, Kitco emphasized the importance of buying from a reputable seller.

But as Murenbeeld & Co analyst Brian Bosse told CBC, “The real question is, how did this get into RBC’s inventory?” An RBC spokesperson said the bank has an internal investigation underway “but wouldn’t say if the bank is making changes to how it handles and verifies bullion,” CBC added.

Bosse warned the network that counterfeiting could place a chill on the bullion market.

Castle Silver Resources and Granada Gold Mine sign provisional milling agreement

November 1st, 2017

by Greg Klein | November 1, 2017

Two companies plan to co-operate on a proposed facility to process Quebec gold and Ontario cobalt-silver. Castle Silver Resources TSXV:CSR and Granada Gold Mine TSXV:GGM announced a provisional milling agreement to develop a flowsheet for a plant that would be located on Castle Silver’s property in Gowganda, Ontario. The Granada gold mine is located near Rouyn‐Noranda and about 204 kilometres by road from Gowganda.

Castle Silver Resources and Granada Gold Mine sign provisional milling agreement

As cobalt prices soar, Castle Silver Resources hopes to
revive a past-producer in Ontario’s historic Cobalt camp.

The companies have overlapping management and directors. Funding would come from US$20 million in loans, “which debt raise will be facilitated by a family office in the UK,” the companies stated.

The agreement foresees batch processing of at least 600,000 tonnes of Granada material grading four grams per tonne over three years. An option would allow treatment of another 1.4 million tonnes of pre‐concentrated waste rock. Initial metallurgical tests used a conventional coarse gravity process to achieve 70% gold recovery from Granada waste rock averaging 0.5 g/t, producing a 4.5 g/t gravity concentrate to be further processed at the mill.

The Granada project reached the pre-feasibility level in 2014 and a resource update last June. The Castle mine underwent intermittent silver-cobalt production between 1917 and 1989. Assays are pending from last summer’s 22-hole, 2,405-metre drill campaign.

In June Castle Silver closed the final tranche of a private placement totalling $1.2 million.

Gold-copper grades complement Golden Dawn Minerals’ revival of B.C. past-producers

October 31st, 2017

by Greg Klein | October 31, 2017

As drilling continues, Golden Dawn Minerals TSXV:GOM released assays from Golden Crown, one of the projects included in the company’s plan to revive southern British Columbia’s historic Greenwood mining camp.

Gold-copper grades complement Golden Dawn Minerals’ revival of B.C. past-producers

So far the current Golden Crown program has sunk 1,488 metres in 21 surface holes. Results show significant gold and copper in massive sulphide zones or veins and adjacent wall rock, with mineralization in the host rock diorite and serpentinite, Golden Dawn stated. “This style of mineralization was not previously recognized and was not systematically tested in the historic drill holes,” the company added.

Some highlights from the project’s King and Winnipeg zones show:

Hole GC17-02:

  • 3.53 g/t gold and 0.11% copper over 12.3 metres, starting at 9.24 metres in downhole depth
  • (including 7.66 g/t gold and 0.13% copper over 4.6 metres)

GC17-05

  • 5.14 g/t gold and 1.18% copper over 7 metres, starting at 14.65 metres
  • (including 12.27 g/t gold and 1.96% copper over 2.7 metres)

  • 12.6 g/t gold, 2.9 g/t silver and 0.26% copper over 0.56 metres, starting at 79.96 metres

GC17-08

  • 7.55 g/t gold 2.4 g/t silver and 0.23% copper over 0.7 metres, starting at 80.52 metres

True widths weren’t available.

Golden Dawn stated the initial results remain consistent with previously reported assays for the project. At a 3.5 g/t gold-equivalent cutoff, Golden Crown’s 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

Plans call for infill drilling to upgrade the inferred category and for rehab of the historic underground workings prior to bulk sampling and trial mining expected for next year. Released in June, Greenwood’s PEA also recommended further mine planning, along with metallurgical, geotechnical and environmental studies for Golden Crown.

Meanwhile de-watering continues at the former Lexington mine, another focal point in Golden Dawn’s Greenwood portfolio. The company plans to begin wet commissioning of its Greenwood plant once trial mining begins. The Greenwood projects all sit within an approximately 15-kilometre radius of the company’s processing facility, with a 212-tpd capacity expandable to 400 tpd.

Two weeks ago Golden Dawn released high gold grades, along with silver and base metals results, from sampling on some more recently acquired properties in its regional portfolio.

The June PEA focused on the Golden Crown, Lexington and Mae Mac past-producers, along with the plant. With existing infrastructure, Golden Dawn hopes to put the projects back into production without de-risking at the feasibility level.

In September the company closed the final tranche of a private placement totalling $2.3 million.

Read more about Golden Dawn Minerals.

Update: Mountain Boy Minerals hits visible gold, high-grade assays up to 14.93 g/t over 8.38 metres in NW B.C.

October 31st, 2017

Update: On October 31, Mountain Boy Minerals announced visible gold had been intersected on Red Cliff’s Waterpump zone, described as a faulted extension of the Montrose zone. Four holes had been completed so far at Waterpump, with at least four to six more to come. The company expects to release more Montrose assays soon.

by Greg Klein | October 26, 2017

With one of three drill campaigns vying for attention this season, Mountain Boy Minerals TSXV:MTB moves the Red Cliff project in British Columbia’s Golden Triangle closer to a maiden resource. The latest assays “continue to indicate a large and extensive mineralized zone that has a length of at least 600 metres, a depth of 600 metres and widths up to 40 metres,” said president Ed Kruchkowski. Highlights included 14.93 g/t gold over 8.38 metres and 9.5 g/t over 10.98 metres.

Mountain Boy holds a 35% interest in the project through a JV that has recently acquired additional claims.

Assays for the project’s Red Cliff and Montrose zones, about 1.2 kilometres apart, were released late last month. The current batch comes from Montrose:

Hole DDH-MON-14

  • 4.95 g/t gold over 3.96 metres, starting at 81.71 metres in downhole depth
Mountain Boy Minerals hits more NW B.C. high grades with 14.93 g/t gold over 8.38 metres

A rig tests the Red Cliff project’s Montrose zone.

DDH-MON-15

  • 3.8 g/t over 2.74 metres, starting at 14.63 metres

  • 3.31 g/t over 2.13 metres, starting at 21.65 metres

  • 6.12 g/t over 2.13 metres, starting at 29.7 metres

DDH-MON-16

  • 6.63 g/t over 9.14 metres, starting at 5.79 metres

DDH-MON-17

  • 6.21 g/t over 9.15 metres, starting at 17.38 metres

  • 7.01 g/t over 2.59 metres, starting at 28.81 metres

DDH-MON-18

  • 4.95 g/t over 7.93 metres, starting at 35.98 metres

  • 14.93 g/t over 8.38 metres, starting at 49.7 metres

DDH-MON-26

  • 4.93 g/t over 3.05 metres, starting at 258.54 metres

DDH-MON-27

  • 9.5 g/t over 10.98 metres, starting at 290.15 metres

True widths weren’t provided.

Still to come are assays for 20 other holes. The program drilled five holes on the Red Cliff zone and 35 on Montrose, with a highlight from the latter zone showing 19.9 g/t gold over 4.12 metres. The company now has a crew building a road to move the rig to the Waterpump zone for another eight to 10 holes.

Earlier this week Mountain Boy announced metallurgical results on two composite core samples from a single Red Cliff hole produced recoveries of 94.8% and 97.6% gold, additionally showing potential for lead and copper byproducts.

Also this week Mountain Boy and 65% JV partner Decade Resources TSXV:DEC stated they would buy the Red Cliff vendor’s 1% NSR on a pro rata basis. Mountain Boy’s share will cost $3,500 and 171,428 shares.

Two weeks ago the company released assays from its 20%-held Silver Coin, another Golden Triangle project that had completed 10 holes totalling 1,616 metres out of a 2,000-metre program. Results came in as high as 22.95 g/t gold and 13.1 g/t silver over 2.5 metres; along with 31.02 g/t gold and 28.5 g/t silver over 1.5 metres.

Assays are also pending from the season’s third drill campaign, which consisted of two holes sunk on a barite-sulphide area of Mountain Boy’s 100%-held Surprise Creek project.

The company closed a $586,400 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.