Friday 24th November 2017

Resource Clips


Posts tagged ‘zinc’

Belmont Resources adds New Brunswick zinc-copper to Nevada lithium

November 23rd, 2017

by Greg Klein | November 23, 2017

Today’s geophysics can “see” what older technology missed, opening up new opportunities in exploration. That’s partly what attracted Belmont Resources TSXV:BEA to its new acquisition, the Mid Corner-Johnson Croft zinc-copper prospect in New Brunswick. While powerlines interfered with 1960s-era geophysics, the company expects accurate results from modern ground electromagnetic and/or gravity surveys.

Belmont Resources adds New Brunswick zinc-copper to Nevada lithium

A single sample of breccia taken in 1970 brought historic, non-43-101 assays of 0.96% cobalt and 16.04% zinc, along with silver, cadmium, copper and lead. A few 1990s samples included non-43-101 results of 1.66% zinc, 2% zinc and 1.04% zinc, with some gold, silver, copper, lead and cadmium.

The 700-hectare property has paved road access as well as the transmission line.

Belmont plans to review all historic data prior to field work that would begin next year. Meanwhile the company remains focused on its Kibby Basin lithium project in Nevada, 65 kilometres north of Clayton Valley. Belmont plans EM, vertical electrical sounding and/or geothermal probe surveys to identify targets for the flagship’s next phase of drilling.

The New Brunswick acquisition costs Belmont two million shares and $10,000 over one year. The company may buy back a 1% NSR out of an existing 2.5% NSR.

Belmont also announced its intention to apply for a TSXV price waiver for a proposed private placement of up to $300,000.

Read Isabel Belger’s interview with Belmont Resources CFO/director Gary Musil.

Pistol Bay Mining wants to bring blockchain to resource companies

November 15th, 2017

Update: On November 20 Pistol Bay announced it had created a subsidiary called PB Blockchain Inc to create applications for mining and resource companies.

by Greg Klein | November 15, 2017

While still focused on its Confederation Lake zinc-copper portfolio in northwestern Ontario, Pistol Bay Mining TSXV:PST sees untapped potential in technology’s current upheaval. The company reports ongoing discussions to form a wholly owned subsidiary that would create blockchain applications for the mining sector, as well as oil and gas and possibly other industries. Some products could include “Ethereum smart contracts, security, claim management, resource management and the tokenization of resources,” Pistol Bay stated.

Pistol Bay Mining wants to bring blockchain to resource companies

“We believe a unique opportunity exists to lead the mineral development industry by building a resource-focused blockchain company to facilitate modern mining-related transactions,” explained president/CEO Charles Desjardins. “This represents an exciting opportunity for the shareholders of Pistol Bay and, as a founder of the original Investment.com portal, I have always recognized the need to be early in adapting to new technologies.”

Back to mineral exploration, last month Pistol Bay announced confidentiality agreements with two companies interested in partnering on Pistol Bay’s 17,000-hectare Confederation Lake properties. One company was described as a mid-tier producer, the other a junior explorer. The news followed completion of the first regional and modern geophysical program carried out over the VMS-rich greenstone belt.

Having already received an exploration permit for Confederation Lake’s Dixie claims, Pistol Bay now has applications pending for the Garnet, Fredart, Moth and Fly claim groups. “With zinc prices at a record high, there’s lots of demand for zinc and copper exploration projects,” said Desjardins. “Not many companies can offer a belt-wide property base with proven VMS mineralization and a new airborne EM survey with multiple untested targets.”

Read more about Pistol Bay Mining here and here.

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.

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.

Charles Desjardins discusses Pistol Bay Mining’s portfolio covering most of Ontario’s Confederation Lake belt

October 27th, 2017

…Read more

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.

Option reactivates Rockcliff Copper non-core zinc project

October 23rd, 2017

Update: As of November 2, 2017, the company’s name and stock symbol will change to Rockcliff Metals Corp TSXV:RCLF.

by Greg Klein | October 23, 2017

Less than three weeks after acquiring a new Manitoba property, Rockcliff Copper TSXV:RCU optioned another to Nevada Zinc TSXV:NZN. The 4,992-hectare MacBride zinc project comprises a non-core asset for Rockcliff, north of its core portfolio in the Flin Flon-Snow Lake camp. MacBride comes with a near-surface, historic and non-43-101 estimate of 1.82 million tonnes averaging 8.8% zinc, 0.3% copper, 0.1 g/t gold and 4.5 g/t silver that remains open in all directions.

Option reactivates Rockcliff Copper non-core zinc project

Under terms of the 80% option, Nevada may earn 70% by issuing 200,000 shares, paying $200,000 over three years and spending $2.5 million over five years. On achieving 70%, Nevada may form a joint venture with Rockcliff or earn an additional 10% by paying Rockcliff $2 million to form an 80%/20% JV. Should either interest fall below 10%, that stake will convert to a 1% NSR or a 0.5% NSR on claims subject to a pre-existing royalty. On part of the property, the original vendor holds a 2% NSR, half of which may be purchased for $1 million.

Rockcliff president/CEO Ken Lapierre welcomed Nevada’s “financial capabilities, expertise and knowledge in exploring this high-grade zinc-copper asset.” Nevada president/CEO Bruce Durham and CFO Don Christie serve on Rockcliff’s board. “The disinterested directors of Rockcliff approved the option,” the company stated.

Earlier this month Rockcliff announced a 100% option to add a fourth gold property to its Snow Lake portfolio.

This year’s exploration includes a summer airborne geophysical survey over the former Laguna gold mine, surface exploration on Laguna as well as two other gold projects, Dickstone and Snow Lake, and a planned fall drill program.

Along with gold, the company’s Snow Lake package includes VMS deposits. Among them, the Bur zinc-polymetallic project also has fall drilling scheduled. A spring drill program at Rockcliff’s 51%-optioned Talbot property found a new VMS zone.

The company closed an over-subscribed private placement of $1.35 million last August.

Read more about Rockcliff Copper here and here.

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.

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.