Tuesday 21st November 2017

Resource Clips

Posts tagged ‘silver’

Emerita Resources JVs on Spanish zinc project next to high-grade former mine

October 26th, 2017

by Greg Klein | October 26, 2017

A successful public tender brings Emerita Resources TSXV:EMO an acquisition hosting extensions of an adjacent past-producer characterized as “among the richest zinc mines in the world.” Through a newly formed JV, the company gets a 50% stake in the Plaza Norte project in northern Spain’s Reocin Basin. The neighbouring Reocin mine produced about 62 million tonnes averaging 11% zinc and 1.4% lead up to 2003.

Emerita Resources JVs on Spanish zinc project next to high-grade former mine

The regional government of Cantabria tendered 13,800 hectares of claims that lapsed when Reocin shut down. “Based on a rigorous review of [historic] drilling data, we are confident that we have selected the claims with the highest potential,” said Emerita president/CEO Joaquin Merino. “We are also extremely pleased with the strong support received from the community and government to date.”

Emerita will act as project operator on behalf of JV partner the Aldesa Group, a specialized construction and infrastructure firm with international operations. The tender granted rights to Plaza Norte for three years with an option to renew.

Emerita has been studying historic data from the property since mid-2016, building a database of over 300 holes totalling approximately 73,000 metres. The Plaza Norte claims cover most of the drilling area, including those with high-grade intervals, the company stated. Some examples include 9.72% zinc over 18.96 metres and 7.05% over 8.2 metres. The core was placed under government storage.

The JV will submit exploration plans to the government within four months.

Cantabria infrastructure includes an industrial port and an excellent rail and road network, Emerita added. Glencore operates a zinc smelter about 180 kilometres by road from Plaza Norte.

Regarding its bid on another Spanish project, last month Emerita reported encouraging news about the Paymogo property in Andalusia. After a competing bid was selected, a court ruled the process invalid, ordering bids to be re-assessed. The company expressed confidence that its bid would prevail if the process “eliminates the illegal criteria and leaves the legal criteria as originally scored.”

Paymogo hosts an historic, non-43-101 estimate of 34 million tonnes averaging 0.42% copper, 1.1% lead, 2.3% zinc, 44 g/t silver and 0.8 g/t gold.

In March the company announced progress on another disputed Andalusian tender, this one for the Aznalcollar zinc project.

Earlier this month the company announced conditional TSXV approval for its acquisition of the Salobro zinc project in Brazil. Salobro comes with an historic, non-43-101 estimate of 8.3 million tonnes averaging 7.12% zinc.

In June Emerita announced an option to acquire the Falcon Litio MG project, adjacent to Brazil’s only lithium mine.

Emerita also holds the Sierra Alta gold property in northwestern Spain.

High-grade sampling adds interest to Golden Dawn Minerals’ Greenwood revival

October 19th, 2017

by Greg Klein | October 19, 2017

A company hoping to restart former mines in southern British Columbia’s historic Greenwood camp, Golden Dawn Minerals TSXV:GOM announced high-grade sample results from new acquisitions. The news comes as the company drills one of its properties and prepares for trial mining on another of the past-producers in a group of nearby assets that includes a 212-tpd mill.

High-grade sampling adds interest to Golden Dawn Minerals’ Greenwood revival

The Phoenix open pit lies among a group of
prospects that includes the sampling area.

Focusing on properties acquired late last year, some 86 samples were taken, most of them chip samples from outcrop. Among the highlights was a 0.4-metre interval showing 85.9 g/t gold, 29.8 g/t silver and 0.01% copper from the Summit area. The Minnie Moore area came through with 2.68 g/t gold, 1,700 g/t silver, 0.07% copper, 0.41% lead and 0.22% zinc over one metre.

Three one-metre widths from the Silvester K prospect showed:

  • 4.68 g/t gold, 3.1 g/t silver and 0.11% copper

  • 25.5 g/t gold, 7.5 g/t silver, 0.14% copper and 0.01% zinc

  • 10.9 g/t gold, 5.1 g/t silver and 0.02% copper

The most numerous high-grade gold results came from the JD area, where one-metre intervals graded as high as 15.8 g/t, 14.9 g/t, 14.3 g/t, 8.26 g/t, 5.59 g/t and 4.59 g/t gold, along with silver, copper and some lead-zinc.

A grab sample from the Bay area showed 45.1 g/t gold, 7.7 g/t silver and 0.16% copper. An interesting polymetallic chip sample from the Mavis prospect graded 3.79 g/t gold, 503 g/t silver, 0.01% copper, 17.5% lead and 0.18% zinc over one metre.

Overall, the results call for additional exploration and surface drilling on six areas covered by the program, Golden Dawn stated. Meanwhile the company has dewatering underway at Lexington, a nearby past-producer that’s slated for rehab and trial mining. Having given up 5,486 ounces of gold, 3,247 ounces of silver and 860,259 pounds of copper from April to December 2008, the mine shows potential for new production without de-risking at the feasibility stage, Golden Dawn believes. The company plans to start wet commissioning of the mill as trial mining begins.

A concurrent drill program on the Golden Crown property has sunk 19 holes totalling 1,358 metres so far, with results pending.

Last month the company closed the final tranche of a private placement totalling $2.3 million.

Read more about Golden Dawn Minerals.

Finance legend James Rickards to speak at San Francisco Silver and Gold Summit

October 19th, 2017

October 19, 2017

His book titles hardly suggest an optimistic outlook. But for James Rickards, pessimism has proved no impediment to profit. Others might benefit from his success when he appears as keynote speaker at the Silver and Gold Summit to be held in San Francisco on November 20 and 21.

Finance legend James Rickards to speak at San Francisco Silver and Gold Summit

Rickards’ books have been translated into 14 languages.

A New York Times bestselling author whose work has been translated into 14 languages, his books include Currency Wars, The Death of Money, The New Case for Gold and The Road to Ruin. Rickards serves as chief global strategist for Meraglim Inc, which provides a new technology for predictive analytics in capital markets. He also edits the newsletter Strategic Intelligence and sits on the advisory board of the Center for Financial Economics at Johns Hopkins. An adviser on international economics and financial threats to the U.S. Department of Defense and the American intelligence community, Rickards served as a facilitator of the Pentagon’s first-ever financial war games.

This year’s Silver and Gold Summit features over 30 speakers with some of the best-known names including Marin Katusa, Frank Holmes, Rick Rule and Doug Casey. Their insights will complement an event showcasing 70 exhibitors and offering pre-booked one-on-one meetings to connect investors with companies.

Watch this space for new additions to the speaker list.

To save 25% on admission click here and enter promo code RESOURCE25.

Read more about the San Francisco Silver and Gold Summit.

Canadians need to get past the Klondike to understand mining’s contributions: Stan Sudol

October 13th, 2017

by Greg Klein | October 13, 2017

Rights offerings to be streamlined, says CSA

Like the nugget in this prospector’s hand, the
Klondike’s place in history looms unrealistically large.

The Fraser, Cariboo and Klondike gold rushes undoubtedly played an important nation-building role, with the latter becoming especially famous “thanks to terrific public relations from writers like Jack London, Pierre Berton and Robert Service,” says Stan Sudol. But how important were those events when the Yukon coughed up about 12 million gold ounces, “small change compared to the Timmins camp which is currently at 73 million ounces and counting!”

In a speech to the Canadian Business History Association Conference the Sudbury native and communications consultant/mining strategist/speech writer/mining blogger related how Ontario’s gold and base metals discoveries far surpassed the western gold rushes for their importance to the Canadian economy. “Notwithstanding the historical hype of the Klondike the two most important mining events in our history are the discoveries of the Sudbury nickel mines in 1883 and the Cobalt silver boom of 1903.”

And, he notes, while London, Berton and Service missed out on these developments, Sudbury did attract the attention of Stompin’ Tom Connors.

Sudol outlines the history of the Ontario and Quebec camps, looking at their social and environmental impacts as well as economic contributions. His compelling account takes readers up to the present, as mining in the Northwest Territories and Nunavut helps create an indigenous middle class.

Read it here on the Republic of Mining.

Golden gateway

October 13th, 2017

San Francisco’s Silver and Gold Summit 2017 bridges investors and opportunities


What a year it’s been for some of the rare metals, energy metals and base metals that have shaken the markets. Still, precious metals have a way of retaining their distinctive allure. That helps explain why they get top billing as the Silver and Gold Summit returns to San Francisco on November 20 and 21, in an event that promises to be bigger than ever.

“Precious metals are a lot of what you’ll see at this show and the roots of this conference are based in the silver and gold market,” explains Cambridge House International president Jay Martin. But he emphasizes that they won’t monopolize the agenda, as some exhibitors and speakers have other commodities and strategies in mind.

San Francisco’s Silver and Gold Summit 2017 bridges investors and opportunities

Exhibitor space sold out early with 70 companies, Martin says. “We’re going to cap it at that. When you cap it like that you can maintain the quality.”

The speaker list, on the other hand, has many more presenters to come. Apart from big names like Katusa, Holmes, Rule and Casey, “we’ll be adding probably about 50 speakers to the agenda,” Martin says. “When we build this program we look at about two dozen topics in the mineral sector, then we drill down to what we see as demand, what investors are asking for. Then we assemble the topics and fill the speaker list from there.”

Through surveys, outreach programs, focus groups and social media, Cambridge House and co-producer Katusa Research determine “what attendees want to learn about, what’s getting traction, what’s controversial or exciting.”

Playing to what he calls “a healthy retail market,” the event shares similarities with the Vancouver Resource Investment Conference, returning next year on January 21 and 22. “It’s easy to get to San Francisco from anywhere, so we see a lot of traffic coming in from all over the U.S. and Canada. But I’d say the number #1 difference with the San Francisco/Oakland area is there’s a larger appetite for wealth preservation. You’ll also see some content about new asset classes that are competing with gold, like cryptocurrencies.

“You’ll definitely hear speakers address questions about cryptocurrencies’ validity as an asset class for wealth preservation. That’s a big debate right now. People are asking if bitcoin is the new gold, and people will want to hear what our experts have to say about that. I anticipate that being a very large feature.”

With every single show we’re getting better at connecting investors with the opportunities they’re specifically looking for.—Jay Martin, president of
Cambridge House International

Other goals include “educating people on the opportunities in small cap mineral exploration. And with every single show we’re getting better at connecting investors with the opportunities they’re specifically looking for. We offer matchmaking services to help companies and attendees meet and discover opportunities.”

The summit’s online concierge service lets attendees schedule one-on-one appointments with exhibitors, and also lets exhibitors schedule appointments with speakers and qualified buyers. “That makes everyone’s time more productive,” Martin points out. “On top of that, we’re always reaching out to funds we know and investors we know to make sure they’re meeting the people they should be meeting.”

That promises to make a busy two days, especially since Martin expects about 1,500 attendees, up considerably from last year’s 800. The turnout follows a “phenomenal response” to the International Metal Writers Conference held in Vancouver last May.

“There’s a lot of demand now for high-quality junior mining deals on a global scale,” he adds. “We’re seeing more international traffic coming to the shows. We’re seeing more companies getting pre-booked prior to the event for one-on-one meetings.”

The heightened quest for investor intel comes amid unsettling geopolitical and domestic circumstances. “It’s such a volatile time in the States right now, unlike any year I’ve ever seen,” Martin notes. “I think investors are more aware that it’s up to them to take care of themselves and make smart investment decisions. I think investors are getting more intelligent and more productive with their time at our conferences. That’s great to see.”

The Silver and Gold Summit takes place at San Francisco’s Hilton Union Square from November 20 to 21. To save 25% on admission click here and enter promo code RESOURCE25.

New to mining? Or want a refresher course? Consider the Mining Insight Seminar, a two-hour separate ticketed event offering an overview of the industry, its economics and stakeholder considerations.

High-grade copper samples precede fall drilling at Kapuskasing Gold’s Newfoundland project

October 13th, 2017

by Greg Klein | October 13, 2017

A property with over a century of mining and exploration history has modern drilling about to begin as Kapuskasing Gold TSXV:KAP readies a rig for the Lady Pond project in Newfoundland. Heightening the company’s anticipation are recent grab samples showing cobalt, silver and high-grade copper.

High-grade copper samples precede fall drilling at Kapuskasing Gold’s Newfoundland project

Surface geology at Lady Pond’s Sterling prospect buoys
optimism in Kapuskasing’s upcoming drill campaign.

Two grab samples reported for Sterling, one of the 2,450-hectare property’s three known prospective areas, showed 2.75% copper and 7.19% copper. A Twin Pond grab sample returned 9.03% copper, while another from the Lady Pond prospect assayed 0.089% cobalt, 1.54% copper and 9.4 g/t silver.

With a drill permit now in hand, Kapuskasing has about 1,000 metres planned to confirm historic reports of copper and begin work on a 43-101 resource for the three prospects. All three have undergone extensive drilling in the past, with impressive, albeit historic, non-43-101, reports of copper. Sterling hosts an historic, non-43-101 estimate of approximately one million tonnes averaging 1% copper that remains open in all directions.

Adjacent to the northern Newfoundland town of Springdale, the Lady Pond property sits 94 kilometres by road from a Rambler Mining and Metals TSXV:RAB base metals mill. Rambler holds two historic, non-43-101 copper deposits contiguous to Lady Pond.

On the province’s Great Northern Peninsula, Kapuskasing closed its acquisition of the 1,050-hectare Daniel’s Harbour project last month. A former mine that produced around seven million tonnes averaging 7.8% zinc between 1975 and 1990, the property is considered prospective for additional Mississippi Valley-type zinc deposits.

The company’s portfolio also includes the King’s Court copper-cobalt property just south of the Great Northern Peninsula.

In August Kapuskasing closed private placements totalling $215,000, which followed a June private placement of $201,200.

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

Mountain Boy Minerals releases high gold grades from B.C.’s Golden Triangle

October 12th, 2017

by Greg Klein | October 12, 2017

Impressive assays came with the news released by Mountain Boy Minerals TSXV:MTB as it updated three current drill campaigns in northwestern British Columbia. The Silver Coin property has seen 10 holes totalling 1,616 metres so far out of a planned 2,000-metre program. With assays available from two holes, the company said SC17-442 found a new high-grade zone at surface as well as continuity of the main zone at depth. Results show:

  • 31.02 g/t gold and 28.5 g/t silver over 1.5 metres, starting at 28.71 metres in downhole depth
  • (including 56.3 g/t gold and 30.7 g/t silver over 0.7 metres)
  • (and including 8.9 g/t gold and 26.6 g/t silver over 0.8 metres)
Mountain Boy Minerals releases high gold grades from B.C.’s Golden Triangle

Geology grants the Golden Triangle
spectacular scenery as well as mineral riches.

  • 6.97 g/t gold and 38.3 g/t silver over 1.2 metres, starting at 55.54 metres

  • 11.6 g/t gold and 31.7 g/t silver over 1 metre, starting at 64.21 metres

Hole SC17-443 also hit a new high-grade zone at surface and extended the main breccia zone at depth, with intercepts showing:

  • 22.95 g/t gold and 13.1 g/t silver over 2.5 metres, starting at 15.28 metres
  • (including 108 g/t gold and 51 g/t silver over 0.5 metres)

  • 8.44 g/t gold and 20.4 g/t silver over 6.2 metres, starting at 71.34 metres
  • (including 9.22 g/t gold and 23.6 g/t silver over 5.2 metres)
  • (which includes 15.5 g/t gold and 42.2 g/t silver over 1.5 metres)
  • (and including 12.37 g/t gold and 23.72 g/t silver over 1.7 metres)

True widths were estimated between 60% and 80%.

The campaign intends to extend and upgrade lenses of high-grade gold within the project’s main breccia zone and test targets along strike to the south and a potential sub-parallel zone to the east, Mountain Boy stated. The company holds a 20% stake in the 1,470-hectare project.

Drilling, mapping and sampling continues at Red Cliff, where five holes have been completed on the Red Cliff zone and another 31 on the Montrose zone, about 1.2 kilometres north. Late last month the company released assays from five holes on each zone, with a standout intercept from Montrose grading 19.9 g/t gold over 4.12 metres. Plans also call for one or two holes on Montrose north of Lydden Canyon and eight on the Waterpump zone. Mountain Boy holds a 35% interest in the Red Cliff joint venture and a partial interest in additional claims.

At its 100%-held Surprise Creek project, Mountain Boy has assays pending from two holes sunk on a barite-sulphide area of the Ataman zone.

The company closed a $586,400 private placement in September.

Read more about Mountain Boy Minerals here and here.

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

New acquisition expands Rockcliff Copper’s Snow Lake gold/VMS assets

October 5th, 2017

by Greg Klein | October 5, 2017

A 100% option would bring Rockcliff Copper TSXV:RCU its fourth gold property in a Manitoba VMS camp originally associated with yellow metal. Located within five kilometres’ trucking distance from a 2,000-tpd gold mill, Berry Creek joins the company’s extensive portfolio in the Flin Flon-Snow Lake region.

New acquisition expands Rockcliff Copper’s Snow Lake gold/VMS assets

The property comes with historic, non-43-101 assays, including grab samples grading up to 90 g/t gold, 2.48% zinc and 0.51% copper. Historic, non-43-101 drill results for three holes showed:

  • 3.8 g/t gold over 3.6 metres, starting at 6.6 metres

  • 4.7 g/t over 4.3 metres, starting at 37 metres
  • (including 19 g/t over 0.5 metres)

  • 3.5 g/t over 4 metres, starting at 17.5 metres
  • (including 13.4 g/t over 0.5 metres)

Apart from the near-surface high grades, the property shows “potential for a large low-grade gold environment,” Rockcliff stated. Berry Creek also hosts untested airborne geophysical anomalies and sits within an area better known for base metals production. The company plans geophysics and drilling next year.

A 100% interest would call for $140,000 over three years and $500,000 in spending over five years, with a minimum $75,000 of work in any year. A 2% NSR applies, up to half of which Rockcliff may buy for $500,000 per 0.5% NSR.

Rockcliff’s other regional gold projects include the former Laguna mine, which underwent airborne geophysics last summer, as well as the Dickstone North and Snow Lake properties.

Busy on a number of fronts, Rockcliff last month announced drill plans for its Bur zinc-polymetallic project, which gets about 3,000 metres to update and expand an historic, non-43-101 resource. The company also holds three other zinc deposits with historic, non-43-101 estimates.

Another drill program this year found a new VMS zone on the company’s 51%-optioned Talbot property. A 43-101 inferred resource from 2016 for the project’s 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 Rail deposit hosts a 2010 43-101 resource with an indicated category containing 55.09 million pounds copper.

Known collectively as the Snow Lake project, Rockcliff’s entire package lies within trucking distance of two Hudbay Minerals TSX:HBM processing facilities.

In late August Rockcliff closed an over-subscribed private placement of $1.35 million.

Read more about Rockcliff Copper here and here.

Spanish court decision a positive step for Emerita Resources’ proposed zinc acquisition

September 29th, 2017

by Greg Klein | September 29, 2017

A court ruling bodes well for Emerita Resources’ (TSXV:EMO) bid to acquire a Spanish zinc project with an historic deposit, the company says. In appealing a 2014 decision that awarded the Paymogo property to another bidder, Emerita argued that the process involved procedural errors and lacked impartiality. Now the Upper Court of Andalucia has declared the tender invalid and ordered that the bids be reassessed, the company reported on September 28. Emerita believes that if the reassessment “eliminates the illegal criteria and leaves the legal criteria as originally scored” the company’s bid will be accepted.

Emerita stated it didn’t know when the panel members would reconvene “or how they will approach the reassessment.”

Emerita has an exceptional technical team in Spain and a great depth of experience in delineating and developing these types of zinc deposits and is ready to advance the project quickly should it be awarded the tender.—David Gower,
chairperson of Emerita Resources

The ruling marks “a strong endorsement for the region as a place to conduct business to see that the rule of law is transparently and fairly administered,” said company chairperson David Gower. “Emerita has an exceptional technical team in Spain and a great depth of experience in delineating and developing these types of zinc deposits and is ready to advance the project quickly should it be awarded the tender.”

The company has also disputed Spain’s tender process for the Aznalcollar zinc project. In March Emerita stated that the Seventh Provincial Court of Seville rejected a request to dismiss a criminal case against a competing bidder, the Andalucian government panel responsible for awarding the project and Andalucia’s former director of mines.

Calling the decision a positive step in resolving the Aznalcollar dispute, Emerita CEO Joaquin Merino said the company “strongly believes that it is the only qualified bidder.”

Paymogo consists of two areas about seven kilometres apart that have seen extensive drilling, La Infanta and Romanera. The latter hosts an historic, non-43-101 estimate dating to the 1990s that showed 34 million tonnes averaging 0.42% copper, 1.1% lead, 2.3% zinc, 44 g/t silver and 0.8 g/t gold.

Aznalcollar also has an historic, non-43-101 estimate, this one showing 71 million tonnes averaging 3.86% zinc, 2.18% lead, 0.34% copper and 60 g/t silver.

In July Emerita announced plans to acquire the Salobro zinc project in Brazil, with its historic, non-43-101 estimate of 8.3 million tonnes averaging 7.12% zinc.

The company holds the Sierra Alta gold project in Spain.

Golden Dawn Minerals to refurbish former B.C. gold-silver-copper mine and mill for trial operation

September 28th, 2017

by Greg Klein | September 28, 2017

Slated to begin imminently, a dewatering and rehab program could help Golden Dawn Minerals TSXV:GOM bring new life to a southern British Columbia past producer. Under a previous operator the former Lexington mine produced 5,486 ounces of gold, 3,247 ounces of silver and 860,259 pounds of copper from April to December 2008. Processing took place about 17 kilometres away at the Greenwood mill. With a 212-tpd capacity expandable to 400 tpd, the mill now comprises an important asset in Golden Dawn’s portfolio of nearby former mines.

Golden Dawn Minerals to refurbish former B.C. gold-silver-copper mine and mill for trial operation

Built in 2007 only to be shuttered months later by the downturn,
the Greenwood mill holds a key position in Golden Dawn’s plans.

Lexington’s rehab will focus on two declines prior to installing electrical service and ventilation. The agenda then calls for mapping, sampling and definition drilling to support test mining.

A 2016 resource used a base case 3.5 g/t gold-equivalent cutoff, giving Lexington:

  • measured: 58,000 tonnes averaging 6.98 g/t gold, 1.1% copper and 8.63 g/t gold-equivalent for 16,100 gold-equivalent ounces

  • indicated: 314,000 tonnes averaging 6.38 g/t gold, 1.04% copper and 7.94 g/t gold-equivalent for 80,200 gold-equivalent ounces

  • inferred: 12,000 tonnes averaging 4.42 g/t gold, 1.03% copper and 5.96 g/t gold-equivalent for 2,300 gold-equivalent ounces

Although Lexington remains the company’s current priority, surface drilling continues on the company’s Golden Crown property, host to the Greenwood mill. Fifteen holes have been completed so far, with a plan to further delineate and extend the project’s 2016 resource. Using a 3.5 g/t gold-equivalent cutoff, the estimate 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

Another summer drill program at May Mac, another past producer, wrapped up with eight surface holes totalling 1,886 metres. One interval found 1.13 g/t gold, 23 g/t silver and 0.7% lead over 0.36 metres starting at 204.34 metres in downhole depth. Another intersection revealed previously unknown copper, grading 0.24% over 0.79 metres starting at 45 metres in depth.

Following up on a spring campaign, the program showed May Mac’s Skomac vein system extending at least 215 metres beyond the former mine’s workings. Golden Dawn now has permitting underway for underground drilling to avoid the topographical challenges encountered over the extension.

As for the mill, contractors agree the 2007-built facility “is in excellent shape,” Golden Dawn stated. Estimates call for about $270,000 and three to five weeks to put the plant back into operation. The company anticipates that happening as feed becomes available from the Lexington mine.

Golden Dawn also spent the summer prospecting additional former mine sites and mineral showings on other holdings within an approximately 15-kilometre radius of the mill.

Given the portfolio’s existing resources, infrastructure and potential, Golden Dawn hopes to enter production without de-risking at the feasibility level. The properties lie approximately 500 kilometres by highway east of Vancouver.

Earlier this month the company closed a $2-million private placement first tranche. Subject to approvals, Golden Dawn expects to close an additional $640,000.

Read more about Golden Dawn Minerals.