Most international mining companies attach great importance to strategic layout. They operate a variety of minerals and resources all over the world. Especially the old brand international gold mining enterprises have experienced hundreds of years and have been developing steadily for a long time.
Barrick Gold Corporation is the largest gold mining company in the world, was founded in 1983 by Peter Munk, headquartered in Toronto, Canada. Barrick Gold is principally engaged in the production and sale of gold and copper, as well as exploration and mining development activities, and its gold exploitation, mineral processing, beneficiation technology is at the forefront of the world. The company is listed on the New York Stock Exchange (codename NYSE) and the Toronto Stock Exchange (codename ABX).
Barrick has more than 100 gold mines spread in continents, Canada, the United States, Peru, Argentina, Australia, the Dominican Republic and Papua New Guinea. Recently, Barrick agreed with Chinese mining giant Shandong Gold in an effort to retain its premier status.
Barrick is committed to continually discovering and replacing assets and resources in search and selective acquisitions. Even in the years when the gold price was low, most companies were in a state of austerity, and the company was fully committed to discovering the Lagunas Norte deposit in Peru, which was the one of the most important gold mines discovery in the 1990s. The recently major discovery is the Kotz mine in Nevada (gold reserves of approximately 283 tons).
Barrick has been focusing on the exploration of Nevada minerals, one of the most stable places in the world, and Barrick has strong control over the minerals in Nevada. In 2014, Barricks 50% budget was allocated to the Nevada exploration project, mainly for prospecting exploration of the Goldrush project. In addition to this project, Barrick still has other development opportunities and projects in the vicinity of Nevada, including Kotz and The Goldstrike project, which helps companies overcome risk and adjust capital back.
Founded in 1921 and listed in 1925, Newmont is headquartered in Greenwood Village, Colorado. The company has approximately 30,000 employees, most of whom are in the United States, Australia, Ghana, Peru and Suriname. Its operations are mainly in gold, copper, coal, oil and natural gas. In February 2002, it acquired Canadas Franco-Nevada and Australia Normandy. Newmont is a leader in the value creation industry and the only gold producer in the S&P 500.
In 2016, the Newmont has proven and probable gold reserves of 1,942 tons, with a mining area of 59,000 km2. At present, three-quarters of the companys gold reserves are concentrated in the United States and Australia. Through the drilling survey in Australia alone, has added 116t of gold reserves, especially the Tanami and Merian mines, which have increased by 40t and 17t respectively. The discovery of these high-quality gold ore has raised the average gold grade to 1.210-6.
Founded in 1944, AngloGold Ashanti is the third-largest gold mining company in the world, headquartered in Johannesburg, South Africa. AngloGold Ashanti is a global gold producer, with 17 gold mines in 9 countries and exploration projects in gold production areas around the world, has been listed in the New York, Johannesburg, Accra, London, Australia, and Paris and Brussels stock exchanges.
From 2015 to 2016, the company invested a total of 1.79 million euros in exploration, increasing the amount of mineral resources of 283 tons, produced 3.8 million ounces of gold in 2017. The value of AngloGold Ashantis assets is around $9.5 billion.
Goldcorp Inc. is a gold producer engaged in the trading, exploration, development and acquisition of precious metals in Canada, the United States, Mexico, Central America and South America. Current operating is mainly in the sale of gold, copper and silver. Goldcorp Inc. was originally established on March 31, 1994, and later acquired Glamis Gold. The merged new company was formally established on December 1, 2006.
Goldcorp Inc. is one of the worlds lowest-cost and fastest-growing gold producers with operations throughout the Americas. Headquartered in Vancouver, British Columbia, Canada, employs more than 15,000 people worldwide.
The main mines of Goldcorp are located in Canada, the United States and Latin America. The Red Lake mining area is located in the worlds brightest gold belt and is one of the highest grade gold mines in the world. HGZ is the core producer of gold in the Red Lake mining area, with an average grade of 56.710-6, but it is expected that by 2020, the ore in the plateau mining area will be exhausted.
In the next five years, the company plans to increase its gold production and gold reserves by 20%, while reducing the cost per ounce by 20%. After years of cost reduction, the industry is experiencing a decline in gold production and gold reserves and a possible increase in unit costs.
In 2017, the companys exploration and development has made great progress, and the Cerro Negro, Silica Cap and Bajo Negro projects have achieved encouraging results, and these projects continue to have new discoveries. The results obtained include gold-bearing ore bodies with a grade of 20.8010-6 over 5.01m thick (Bajo Negro project, BDD-17006), and gold-bearing ore bodies with a grade of 4.7510-6 and a thickness exceeding 5.16m thick. (Silica Cap project, SCDD-17003).
Kinross Gold headquartered in Canada with mines and projects in Brazil, Canada, Chile, Ghana, Mauritania, Russia and the United States, mainly engaged in gold mining, silver mining, exploration, extraction, processing, etc. Listed on the Toronto Stock Exchange (code: K) and the New York Stock Exchange (code: KGC).
In 2016, the company produced a total of 79t of gold, which refreshed the companys production record. Despite the multi-faceted challenges, the companys operating performance in 2016 remained strong. With the increase in the price of gold, the companys cash flow exceeded $1 billion and its assets and liabilities performed well.
The main gold mines are located in the Americas, West Africa and Russia, its proven recoverable reserves are 863.4 million tons. The proportion of resources distribution is 12.5% in North America, 81.99% in South America, and Russia. 0.22%, Africa 5.29%, mostly open-pit mines, and all are wholly-owned or absolutely controlled.
Kinross Gold is stepping up its expansion of known mineralized belts, and the Kupor mining area has great potential, drilling procedure has found obvious mineralization in certain areas. In the past few years, the company has taken many measures to promote key projects to extend mine life, maintain quality products, reduce costs and increase cash flow.
Headquartered in Melbourne, Australia, Newcrest Mining Limited is the largest gold producer listed on the Australian Stock Exchange (ASX), one of the top 50 listed companies on the Australian Stock Exchange and one of the worlds largest gold producers.
Newcrest mines are mainly located in Australia, Papua New Guinea, Indonesia and Cte dIvoire. Current major businesses include Cadia Hill (New South Wales, Australia), Telfer (Western Australia), Gosowong (Halmahera Island, Indonesia), Lihir Island (New Ireland, Papua New Guinea), and Bonikro (Cte dIvoire).
Newcrest is currently evaluating two major exploration areas in the provinces of Namosi and Papua New Guinea in Fiji. Its joint venture, Namosi, is conducting a survey of Namosi and Natasiri provinces about 30km south of Suva, which covers an area of approximately 724km2. The Golpe exploration project is located in the Mobori province of Papua New Guinea, expected to have a mineral resource of 737t gold and 8.8 million tons. Copper and 1361t of silver.
Gold Fields is a world-renowned gold producer and a major player in gold resources in South Africa, Ghana, Australia and Peru. Principally engaged in underground and surface gold and copper mining and related activities, including exploration, mining, processing, and smelting. In 2012, Gold Fields established a new company headquartered in South Africa and split its subsidiary, Sibanye Gold, which is 100% owned.
Cerro Corona mine, located on the eastern slope of the western Sierra Mountains in northern Peru, has reserves include 37t gold and 208,800 tons of copper. Gold Fields has St Ives, Agnew, Darlot, Granny Smith mines, and 50% owned Gruyere in Australia, with a gold resource of 439 tons and a reserve of 164 tons. The largest mine in South Africa is the South Deep mine, one of the largest gold mines in the world, with a gold resource of 1786 tons and a reserve of 1057 tons. In addition, Talca and Dama mine in West Africa, Gold Fields own 90% of the shares and the remaining 10% are held by the Ghanaian government.
The company has increased its exploration investment year by year. The investment in Australia has increased from US$68.1 million to US$89 million, and the total drilling depth has increased from 617.14 km to 661.36 km. A major breakthrough was made in the exploration project at Ives and the Granny Smith mine.
Located in Moscow, Polyus is Russias largest gold producer and one of Kazakhstans largest metal producers, with gold production ranking among the top ten in the world, has proven gold reserves of 1865t.
Polyus is mainly involved in the eastern Siberian region where is rich in gold, and in some alluvial plains. In addition, it has mining rights or exploration rights for several gold mines in Kazakhstan, Romania and Kyrgyzstan.
Polyus main mines include the Olimpiada, Blagodatnoye, Titimukhta, Verninskoye, Alluvials and Kuranakh mines. The Olimpiada mine is located in Russias largest gold mining area and is the companys largest project. The mine started production in 1996 and currently accounts for more than one-third of the companys total gold production. In 2015, it produced 21 tons of gold. The exploration work in the area shows that there is huge potential in the vicinity.
The Polyus exploration mines are Chertovo Koryto, Panimba and Razdolinskaya, Nezhdaninskoye and Bamskoye. The Chertovo Koryto mine is about 170km from the Verninskoye mine, located in the southern Siberian gold belt, with a gold resource forecast of 88t. The Panimba and Razdolinskaya mines are located in the Krasnoyarsk region of eastern Siberia with a gold resource (presumed) of 165t. The Nezhdaninskoye mine is located in the Vihoyansk Mountains, a preliminary feasibility study report jointly developed by SNC-Lavalin and Gold Fields and AB Global Mining has been submitted and is currently under review. The Bamskoye mine is part of Nevachanskaya, located in the northern part of the Amur region bordering China with a gold resource of 99t.
Sibanye Gold was once a wholly-owned subsidiary of Gold Fields, independently listed in 2013 and is focused on gold mining in South Africa. It currently owns and operates three open-pit gold mines and one underground gold mine in South Africa.
In 2013, Sibanye Gold and Gold One International Ltd. entered into an agreement through which the company acquired ownership of the Cooke underground and open-pit mines in West Witwatersrand and bid for a 100% stake in Witwatersrand United Resources Ltd. Later, acquired Aquarius Platinum Limited (Aquarius) in 2016 and acquired Rustenburgs platinum assets from Amplats. In May 2017, Sibanye Golds acquisition of Stillwater Mining Company came into effect. These acquisitions increase the annual gold production of the Sibanye Gold, increase the operational flexibility, and have a great opportunity to bring new blood into the Sibanye Gold company.
Harmony Gold has more than 60 years of history and is one of the worlds largest gold mining companies. It is the third-largest gold producer in South Africa and employs approximately 30,441 people in South Africa. The company is listed on the Johannesburg and New York Stock Exchange.
Harmony has nine underground mines in South Africa, an open-pit mine and several surface mines, as well as a 50% stake in the Morobe mining joint venture, including the Gorp project. These mines are located in the world-famous Witwatersrand Basin and the Kraaipan Greenstone Belt.
The main gold mines operated by Harmony include the Doornkop, Kusasalethu, Phakisa, Tshepong, Target, Hidden Valley, Kalgold and Unisel mines, which together account for more than half of the companys total production.
Harmony Golds exploration program is mainly in South Africa and Papua New Guinea, focus on discovering large and long-term gold and copper mines. In 2016, $29.9 million was invested in exploration in the Papua New Guinea region.
JXSC, a Chinese gold mining equipment manufacturer, provides a complete gold processing machine from rock crushing & grinding, classification, washing, beneficiation to tailings management. Also, as a solutions provider for rock vein gold, alluvial gold, river placer gold, silver, copper, manganese, diamond, and the like mineral processing plants. Contact our engineer for professional support!
By next year, the industry may feel a little outdated and the third-world mining camps and industrial pollution is doing little to amend that reputation, but the business of gold mining is as essential to the global economy as it has ever been.
The largest gold mining companies in the world are based, generally, in places where there have been successful mining operations previously, such as in the American West, South Africa and Australia. Because there is no conclusive way to determine where the next gold strike will occur, operations can be in several locations with a plurality in Indonesia, West Africa and South America.
Overhead can be onerous for gold mining companies so illiquid assets are common. The cost of doing business is burdensome when an industry does not respect national borders. Therefore, gold mining companies often work in parts of the world where corruption is common, and allegations of international law violations are not uncommon.
We would be remiss not to point out that every company we review in this article has some sort ofenvironmentally friendly initiative that runs counter to the claims of environmental damage from poor governments who seek to make money off fines. Veracity is problematic on both ends.
It can take a new gold mine years to get into production and decades longer to become profitable. For a gold mining company to grow, it must either invest for years in a new mine, buy a smaller mining company with a promising mine or contribute capital to be cut in on the profits of an operation already being run by another mining company.
It's not difficult to invest in gold. Shares in gold mining companies can be purchased on most major trading platforms or in a mutual fund, depending on the products offered by your financial institution.
To present to you accurate summaries of the top 10 gold mining companies, we did our homework. We reviewed media coverage of the mining and metals industry, gathered information available from regulatory bodies and analyzed data furnished by national governments. Additionally, we studied media coverage alleging improper business conduct on the part of mining operations and studies conducted by Human Rights Watch and the United Nations.
We paid special attention to allegations of environmental and human rights crimes, stock prices over the last five years, forecasts for 2019 and any major developments in active mines or the acquisition of active mines.
Barrick Gold Corporation isthelargest gold mining company in the world, although its status is far from assured going forward. The company is headquartered in Toronto and operates mines in Canada, the United States, the Dominican Republic, Argentina, Peru, Papua New Guinea and Chile.
Despite some far-flung operations, Barrick makes the vast majority of its revenue in the Americas. Barrick recently agreed to a lucrative mutual investment with the Chinese mining giant Shandong Gold in an effort to retain its premier status.
The company's all-in sustaining cost margins have eclipsed those of Barrick. Despite a recent pullback in share prices, projections for growth insinuate Newmont will be the industry leader in short order.
Aside from Newmont, the Johannesburg-based mining company AngloGold Ashanti represents Barrick's strongest competition for the top spot in the industry. The company has operations in Argentina, Brazil, Colombia, South Africa, Tanzania, Ghana, Guinea, Mali, the Democratic Republic of Congo and a few remote islands in the South Pacific. Modest growth projections suggest Newmont is stronger competition for Barrick, but AngloGold Ashanti is a nascent uptrend that should hold through 2019.
The Kinross Gold Corporation is a mining company with its headquarters in Toronto and active mines in the United States, Brazil, Ghana, Mauritania and Russia. Historically, the company has expanded by conducting mergers and acquisitions to grow in new markets. That has informed projections for substantial growth in 2019 alongside their successful extant projects.
Goldcorp is one of the largest gold mining companies in Canada, with a headquarters in Vancouver and operations in Canada, Mexico, Honduras, Guatemala and the Dominican Republic. The company has a strong reputation as an environmentally responsible operator and a fair employer with the Canadian reputation.
The company has faced a number of legal issues, but has yet to be proven to be at fault for any major infraction common among gold mining companies. The last five years have been difficult for Goldcorp but projections for 2019 are good.
Although Newcrest Mining Limited was founded in New York, it is now among the largest gold mining companies out of Australia. The company's mines are concentrated in Australia, with ancillary operations in Papua New Guinea, Indonesia and the Ivory Coast.
The company's second-most profitable revenue stream behind gold is copper, which Newcrest mines across the company's home country. In 2010, Newcrest merged with Lihir Gold, one of the largest Indonesian gold mining companies, to become a more competitive force in the industry.
The firm's all-in sustaining costs are the worst among the companies reviewed for this article. Polyus has overcome those costs to fuel massive increases in share price over the course of 2015 and 2016, after which the price stabilized.
Gold Fields Limited is the second-largest of South Africa's gold mining companies. The company is headquartered in Johannesburg, and it has active operations in South Africa, Ghana, Australia and Peru.
Gold Fields has historically relied on acquisitions to expand the company's presence in regions where it is already active. The company runs a very efficient operation in terms of all-in sustaining cost compared to the largest gold mining companies in the world.
Agnico Eagle Mines Limited is one of the largest gold mining companies in Canada. Its headquarters are in Toronto and it has operations in Canada, Mexico and Finland. Despite a hit to share prices early in 2018, the company's share value has climbed by 18 percent since 2014. Its share price also beat third quarter earnings and revenue expectations to maintain the company's long-term uptrend.
Freeport-McMoRan is the largest of Arizona's gold mining companies. The firm operates primarily in the American West but it also has active mines in Chile, Peru, Spain and Indonesia. The company's gold business lags behindits performance in molybdenum and copper production.
In the last five years, Freeport-McMoRan's share price is down nearly 70%, but projects are in the works to put the company back on track. As of the third quarter of 2018, the company is on a nascent uptrend.
Among these companies, it is most likely Newmont will overtake Barrick in 2019 as the largest gold mining outfit on the planet and a share price to reflect its achievement. That being said, it is hard to bet against a company with the track record of a firm like Barrick, especially when you consider its new partnership with Shandong Gold.
The only other firm with a realistic shot at overtaking the reigning champion is AngloGold Ashanti, which, admittedly, does not have as strong a chance as Newmont. If the heavyweights are too thick for your blood, consider investing in Agnico Eagle or Freeport-McMoRan, dark horse companies with strong projections. No matter what, do not miss out on the gold market in 2019.
The following Gold Stocks List & Mining Stocks List are not paid listings and are not recommendations to buy or sell any Gold Stocks or Mining Stocks listed here. This list of stocks is not comprehensive or all-inclusive and should be used only as a starting point for your own research.
The MINING.COM Top 50* most valuable mining companies added a combined $50 billion in market capitalization over the three months to end March, a sharp slowdown compared to previous quarters, as the commodities rally cools and gold suffers its worst first quarter in decades.
Measured from the height of the pandemic in March-April last year the index has now recovered by an astonishing $636 billion thanks to a boom in spending on green infrastructure not only in China, but across Europe and the US.
An indication of how widespread the rally in mining stocks was the past year is the fact that a year ago a valuation of just over $4 billion secured a company a spot in the Top 50 while today, number 50 on the list, Tianqi Lithium, is valued at more than $8.5 billion. Companies around the $4 billion market cap mark now sit in the mid-60s.
Iron ore prices back above $170 a tonne lit a fire under the top producers, boosting BHP, Rio Tinto, and Fortescues value this year and (with help of roaring platinum group metals) lifted Anglo American to position number four, the highest rank in years for the company with roots stretching back more than a century to Johannesburg.
One of the biggest mining IPOs since Glencore in 2011 came on the back of the steelmaking raw materials performance with Brazils CSN Minerao debuting at 47 with a market value of over $9 billion as at 31 March. The mining unit of steel giant Companhia Siderrgica Nacional currently produces about 33 million tonnes of ore per year, but has ambitious plans to triple that over the next decade.
The combined value of gold, silver and streaming companies in the ranking now make up 16% of the index, down from 26% when gold prices were peaking in the third quarter of last year. The sector has lost over $50 billion in value since its peak, led by Barrick Gold, which bled more than $14 billion since end-September 2020.
Thats in stark contrast to platinum group metal producers which have jumped in the ranking Impala is up 27 spots after a 360% jump and Anglo American Platinum has added 250% in value in US terms and now sits just outside the top 10. The Johannesburg-listed counters not only benefited from soaring PGM prices, but also a strengthening rand.
Freeport McMoRan is up nearly 400% from its covid-lows last March, joined by other base metal miners in the top performers list. KGHM briefly dropped out of the Top 50 at the end of the first quarter but is now back at no 42 and Vedanta returns to the ranking at 34 from 53 a year ago.
Another indication of how broad-based the rally from pandemic lows a year ago is that among the worst performers only two companies Shandong Gold and Coal India actually showed a decline in value in US dollar terms over the past year.
As with any ranking, criteria for inclusion are contentious issues. We decided to exclude unlisted and state-owned enterprises at the outset due to a lack of information. That, of course, excludes giants like Chiles Codelco, Uzbekistans Navoi Mining, which owns the worlds largest gold mine, Eurochem, a major potash firm, Singapore-based trader Trafigura, and a number of entities in China and developing countries around the world.
For instance, should smelter companies or commodity traders that own mostly minority stakes in mining assets be included, especially if these investments have no operational component or warrant a seat on the board?
Levels of operational or strategic involvement and size of shareholding was another central consideration. Do streaming and royalty companies that receive metals from mining operations without shareholding qualify or are they just specialized financing vehicles? We included Franco Nevada, Royal Gold and Wheaton Precious Metals.
Vertically integrated concerns like Alcoa and energy companies such as Shenhua Energy where power, ports and railways make up a large portion of revenues pose a problem as do diversified companies such as Anglo American with separately listed majority-owned subsidiaries. Weve included Angloplat in the ranking as well as Kumba Iron Ore.
Many steelmakers own and often operate iron ore and other metal mines, but in the interest of balance and diversity we excluded the steel industry, and with that many companies that have substantial mining assets including giants like ArcelorMittal, Magnitogorsk, Ternium, Baosteel and many others.
Head office refers to operational headquarters wherever applicable, for example BHP and Rio Tinto are shown as Melbourne, Australia but Antofagasta is the exception that proves the rule. We consider the companys HQ to be in London, where it has been listed since the late 1800s.
Interesting, is it not that the top 50 mining stocks capitalisation only amounts to 1/4 of the $USD created from thin air in one year.(or for that matter, that none of the men toiling to dig it from the bowels of the art demand to be paid in specie, as was the norm, for example as recently as during the excavation of the Panama Canal)
This is very important too. You dont want to hire a gold mining company that doesnt have the required experience to carry out the job. Ensure that when you are doing your interview, look out for experience level and qualification.
Apart from getting recommendations from your friends and family, it is important for you to also ask of customers review from the company. This will in addition give you a better clue of what others are saying about their services.
You should endeavor to check the past records of the gold mining company you are assessing. This will enable you to know their capability and also give you a clearer picture of what they can do for you.
Gold Mining companies are luxurious companies as they deal with gold. Gold is one of the most expensive assets in the World today. Hence, when the number of mining companies increases in a country, the more the economic status of the country increase.
Gold surged late last week up to a high of $1,411.89! After the initial announcement from the Fed on Wednesday that saw spot price take an initial 10 dollar jump and ultimately kicked off the run we are seeing today. To be clear the Fed made the decision to not make any cuts which would typically stall gold, but the report was quite obviously pointing to a bearish outlook for the economy beyond today. With some speculation that there will be cuts as soon as July, The Gold market and Gold miners will get some much deserved attention after several years of suppression.
This brings me to my next point All the hype in the stock market shifted to the cannabis sector a few years ago and no matter what you invested in during the summer and fall of 2017 in this space it seemed to garner considerable gains. It was the excitement of an entirely new sector that was set to make millions if not billions in revenue If you were lucky enough to get in on some of the larger companies early on, then you probably did pretty well. However, If you held beyond that you probably noticed the entire sector pull back by 50% or more in some case and only the majors have been able to keep their sps from dropping in the same fashion.
Well, here it is For years junior mining companies have been held down, beat up and left for dead. Sell on news became the norm and shorting seemed to dominate the mining market and unless you were invested a top tier producer odds are you have felt the effects. What if I told you that I believed we were about to see similar price action in junior mining like we saw in the cannabis sector in 2017 You might think Im crazy but I will tell you why
So for these reasons I will be focusing on the junior mining space and in particular gold plays. Having said that, I will maintain exposure in Nickel and Lithium as I also believe we are entering the Electric Vehicle Revolution but thats for another article. In this article I would like to maintain a focus on value investing in junior mining companies with good upside in light of the potential I am seeing in the market. So without further ado here are a few companies I believe will benefit the most from a turn in the markets.
Last year RNC Minerals was on the verge of bankruptcy until they shook the investing and mining communities around the world with a historic discovery that produced 30,000 ounces from a rather small area. They were following a geological model that was put together in the 80s that was yet to be proven but all the signs pointed to it being accurate, but without the means to drill at the time they were basically drilling blind as they attempted to prove out the model. Fast forward to today and they have completed a 35,000 meter drilling program, set to release a resource update at the end of Q2 and have acquired a mill with a massive land package in the heart of Western Australias most prolific gold mining region.
Moving forward, RNC will be releasing the Resource update and a new mining plan which can sustain them for the next year or two. They are integrating a new pit on the newly acquired land called Baloo which will help top up ore production at the newly acquired Higginsville mill. Baloo open pit will produce an average of 2 g/t while Beta Hunt is yet to be determined as they could hit pockets that could skyrocket their average grade at any time but a base of 4-5 g/t is more than likely. Currently looking at an annualized run rate of 40-60,000 ounces prior to the full scale ramp up in Q3, it is very likely that future production output will exceed 100,000 ounces per year.
Now that RNC has set itself up for long term growth, institutional investors are taking notice and the company has recently been added to the GDXJ and it is my opinion that others will follow. Not to mention that they are currently sitting far below fair value assessed by several analysts in the market. Another point I would make would be that it has become a potential takeover target for Australian Gold miners whom by all accounts are in search of new deposits to bolster their declining production rates. For all of the previously stated reasons I believe RNC will benefit a great deal from the rising price of gold
Wallbridge is currently developing the Fenelon Project that is located along the Sunday Lake/Detour trend in the Abitibi Region of Quebec. Although the company is currently in the developmental stage they are well positioned to move rapidly into the producer category. In 2018 the company undertook a 33,000 ton bulk sample program which was produced from the original discovery area and consisted of a ramp development and the creation of several production stopes in two mineralized zones over four different levels. In the process of mining the bulk sample they have created enough infrastructures to seamlessly move into production as soon as commercial operation is approved and will most likely continue to use the toll mill at Camflo while building an on-site processing facility.
The grades from this discovery zone were very impressive, ranging from low teens to high 30s g/t and show economic viability. In total the bulk sample produced 19,037 ounces of gold from 33,000 tones of ore with a reconciled head grade at the mill of 18.49 g/t. In addition to the bulk sample the company has an ongoing drill program in place. At the end of 2018 and start of 2019 the drilling program entailed some step out drilling on the property and they identified a previously unknown area of mineralization they have named Area 51. While this new area does not yet indicate as high of grade ore as the original discovery zone, the mineralized area is shaping up to contain a very large footprint of broad mineralization at lower grades, but economical for open pit mining. If this area is further defined as a minable resource, Fenelon could eventually consist of both a high grade underground mine as well as a large open pit mine similar to that of Detour Lake which is on the same trend.
Pacton Gold is currently the third larges land holder in the Pilbara region of Western Australia and situated next to and on similar land as Novo resources. Recently, Artemis resources received permits and approvals for an initial mill start-up which could benefit Pacton as they expect to develop their property and will need a milling solution. While the Pilbara grades at Egina, may not be stellar they are however extensive, stretching for kilometers. The deposits are free dig shallow lying gravels sitting at or near surface which means that the cost of production is even more lucrative than that of the local open pit mining operations. Giving them the ability to operate efficiently anywhere from 0.5 g/t, However, there is an opportunity to increase grades as they get into the local erosion trap sites across the property.
Another project Pacton is currently working on is its Red Lake Property whereby they have entered into a strategic partnership with Goldspot Discoveries inc who will help them identify potential mineralization on the property and guide the upcoming drilling campaign upon completion of their services. Historical trenching, pit and surface sampling has yielded grades as high as 15.9 g/t Au, 133 g/t Au and 121.4 g/t Au, which offers Pacton a reason to be optimistic about this project moving forward. Being on the same trends as Great Bear Resources also adds some interest to this project as GBR has had steady progress on their respective project to the south east of the Pacton property. I expect Pacton to have several announcements over the course of the remainder of the year on both fronts of their operation.
When people think of significant gold producing regions the Islands of Fjii seldom appear on that list. But Lion One Metals Tuvatu project on the island of Viti Levu in Fiji may soon change that perception. Lion One is developing the Tuvatu project in a 7 km diameter area of the Navilawa caldera. This project is located along the Viti Levu Lineament just 40 km along strike from the currently producing Vatukoula mine. Vatukoula is home to an 11 million ounce system and has produced over 7 million ounces of gold to date. Both systems are massive alkaline type epithermal gold systems.
Lion One has a very tight share structure ( 110 million shares fully diluted) that is held 55% by institutional investors and management. The management team is led by Walter Berukoff who has owned and developed over 20 mines in 7 countries, several of which have been sold for in excess of $1 billion dollars. With several years of drilling producing some nice high grade results the company was working to better define the geology of the resource when they brought in renowned economic geologist Dr. Quinton Hennigh in early 2019 to review the cores and data to that point in time. After much study Dr. Hennigh identified the resource as a very prolific alkaline deposit which he compared favorably to similar deposits he has worked with such as Cripple Creek in Colorado (+28 million oz) and Porgera in PNG (+25 million oz). Dr. Hennigh has stated .I believe that Tuvatu has similarities not only to Vatukoula and other large alkaline systems in the South Pacific, but also to several multi-million oz. alkaline gold systems Im familiar with in North America. Given that only a very small volume of the overall system has been explored, I see excellent potential for growth at Tuvatu.
Currently the project has mobilized drilling targeting areas identified by Dr. Hennigh as high potential areas, a new on-site assay lab is being commission in 2Q and on site civil earthworks are in progress with a target of completion in 3Q 2019.With these developments progressing during 2019 Lion One Metals will soon make many more investors aware of the potential in Fiji as a part of the Pacific rim of volcanic areas for highly prospective gold resources.
Large step-out drilling around the known Tuvatu high-grade vein system. Once structural controls have been better-defined by CSAMT, Lion One plans to develop a large step-out drill program beyond Tuvatu in order to demonstrate this deposit is significantly larger than currently perceived.
New targets within the Navilawa caldera complex: Multiple untested mineralized areas are readily evident from historic soil and rock chip sampling. Most of these need further refinement through CSAMT, prospecting and mapping.
-The Company envisions generating an inventory of at least 10 new drill targets by the latter half of 2019. Drill testing new targets will be critical to demonstrating multi-million ounce potential at Navilawa.
On May 21st Walker River announced the start of their drilling program on The Lapon Project which consists of 96 claims which cover 1940 acres situated in the Wassuk Range, approximately 60 kilometres southeast of Yerington, Nevada. By all accounts the property is easily accessible and in close proximity to power grids which will bode well for future development. The Company also owns 100% of the property with a 2% NSR payable on 36 of the claims.
This years Drilling is focused on infill and expansion drilling at the Lapon Rose zone, follow up drilling and delineation of new gold mineralized zones, as well as drilling other targets. This includes other fault alteration zones, which in some instances show evidence of previous workings.
Given the previous results highlighted above there is a lot of optimism from management and the retail market as a whole. I see no reason why they will not continue to build on their past success as the deposits they have identified remain open in all directions. I think its also important to mention that The Company is also carrying out a detailed geological and mapping survey of the claim group to assist in identifying more targets this year.
Furthermore, Walker signed a letter of intent (LOI) with Smooth rock Ventures announced on March 27th, to enter into an Exploration Agreement with an Option to form a Joint Venture on the Garfield Flats Project, located in Mineral County.
The Garfield Flats Project is within the Walker Lane shear zone, a 60-mile-wide structural corridor extending in a southeast direction from Reno, Nevada. The project has excellent year-round access and is in close proximity to New Range Gold Corps Pamlico project. Several past producing mines can be found nearby yet it remains relatively unexplored and has good potential for new discoveries.
Harte Gold is Ontarios newest producing gold mine, located near White River, Ontario. Hartes Sugar Zone property is located about midway between Barrickss Hemlo mine and Alamos Golds Island Gold property. The Sugar Zone property consists of three main productive zones (The Sugar zone, Middle zone and Wolf zone) with some other areas waiting for further definition. The property itself is close to 84,000 hectares with a 30 km strike potential, with 90% of the property yet to be explored. Harte achieved first pour 3Q 2018 and began commercial operation late 4Q 2018. Initial ramp up of production was hampered by extreme weather in January and February this year but by March they were on planned production rates for the initial 545 TPD mill. In March they filed a 43-101 and feasibility study showing 1.1 million oz indicated (a 55% increase), 558k oz inferred with target annual production of 65,000 oz per year at 800 TPD.
One drag on the shares was pending maturity of debt and the need to roll it over. On May 6th they announced the completion of a long term refinancing plan through BNP Paribas along with the announced approval of their request to increase mill output to 800 TPD. With the normal startup of commercial operation issues behind them, and with financing risk removed Harte is becoming a stable, low cost producer.
New Range Gold has been actively working on the Palmico Project which was once known as one of the areas highest grade gold regions in Nevada is located roughly 12 miles southeast of Hawthorne, Nevada, along US Highway 95. The project has excellent access and infrastructure, a mild, year-round operating climate and strong political support from Mineral County which is one of the most pro-mining counties in the pro-mining state of Nevada. This project covers the historic Pamlico group of mines, as well as the nearby Good Hope, Gold Bar and Sunset mines and sits on the same trend as one of the worlds largest gold mines called the round mountain mine.
Whats interesting about this project is that is was heavily mined between 1894 and the 1920s until it fell into private hands Nothing of relevance had been done on the property until Newrange picked it up and started mapping out the roughly 8000 m of old abandoned drifts with roughly 300 portals left behind from its glory days. So in some sense they are starting from scratch with no historical data available to them and re discovering what brought miners from all over the US to California and Navada in the first place.
There are multiple targets and target types evident at Pamlico, including: 1) Shallow, high-grade intersections such as the Merritt Zone including extensions along strike and up and down dip, 2) Large, potentially high-grade targets representing intersections of vein swarms which are projected to intersect at depth, 3) High-grade veins and mineralized structures indicated by numerous surface rock chip samples assaying from 29.8 g/T to 99.8 g/T Au, 4) Potential high-grade veins associated with the more or less EW trending Pancake Range Lineament exemplified by mineralization assaying 684 g/T Au in a historic grab sample from a vein trending approximately E-NE, 5) Downward projections of gold bearing structures into more favorable brittle volcanic units that host mineralization at Pamlico Ridge as they dip easterly beneath the younger carbonate sediments, 6) Potential high-grade replacement bodies in the brecciated contact zones between weak sediments and competent underlying volcanic rocks, 7) Potential high-grade veins, replacement bodies and disseminated, sediment hosted gold mineralization in the carbonate sediments of the Luning Formation, 8) Deep Seated gold copper porphyry mineralization as indicated by district scale alteration, geochemistry and regional airborne magnetometry.
In May the company did twenty-seven detailed channel and panel samples taken from the 5690 level of the Good Hope Mine and ranged in grade from 0.05 to 41.20 g/t Au and 6.00 to 244.67 g/t Ag. The sampling tested a set of highly mineralized structures that they believe is a subset of a much larger structural package that strikes dominantly E-W with shallow to moderate dips to the south. Newranges work to date has also traced similar mineralized structural zones with nearly identical attitudes in artisanal mine workings extending easterly from the Good Hope mine for at least 1.7 kilometers across the Pamlico property.
In order to fund this highly prospective project Newrange recently sold their wholly owned Colombian subsidiary, Corporacion Minera de Colombia to a private Australian company along with their El Dovio and Anori exploration projects, and exclusive of the Yarumalito gold porphyry project which the Company will maintain ownership of for the time being until sufficient due diligence has been done on the project.
Currently planning an aggressive exploration drilling campaign this summer after last years preliminary 5 hole, 1,258 meters. Helicopter-borne Versatile Time Domain Electromagnetic (VTEM) and Horizontal Magnetic Gradiometer geophysical surveys have been completed and will assist this years campaign. The surveys covered the northern 50% of their Gowganda West Project and has identified 7 targets of interest. Assay results for the 5 diamond drill hole program indicated that the gold mineralization appears to be part of and within an extensive near surface hydrothermal alteration and gold mineralizing system. iMetals CEO Johan Grandin commented, We are now rapidly advancing the ground work to define new drilling targets along the trend from Zone 1S and other high priority target areas With the recent closure of a private placement, IMR is fully funded and ready to roll into the 2019 drilling campaign.
Gowganda is relatively untapped in comparison to Timmins and Cobalt, which is why iMetals has taken an interest in the area in hopes of honing in on another profitable ore body. To the north of the iMetal resource property there was a discovery made by TEMEX Resource corp on the Juby property and in 2014 filed a 43-101 for a total indicated resource of 1,090,400 oz of gold contained in 26.6 million tonnes at a grade of 1.28 g/t Au and a total inferred resource of 2,908,800 oz of gold contained in 96.2 million tonnes at a grade of 0.94 g/t . The core zone of this discovery is defined by quartz-feldspar porphyry dikes and Temiskaming sediments and not unlike what they are finding on the iMetals property.
Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Bradshaw Gold Deposit, on the Frankfield Property which is part of the Corporations North Timmins Gold Project. Gowest is exploring additional gold targets on its +100squarekilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins, Ontario gold camp. Currently, Bradshaw contains a National Instrument 43101 Indicated Resource estimated at 2.1 million tonnes (t) grading 6.19 grams per tonne gold (g/t Au) containing 422 thousand ounces (oz) Au and an Inferred Resource of 3.6 million t grading 6.47 g/t Au containing 755 thousand oz Au. Further, based on the PreFeasibility Study produced by Stantec Mining and announced on June 9, 2015, Bradshaw contains Mineral Reserves (Mineral Resources are inclusive of Mineral Reserves) in the probable category, using a 3 g/t Au cutoff and utilizing a gold price of US$1,200 / oz, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.
Now that you know a bit about the project they are working on here is a bit of the back story. Early last year during an infill drilling program they took the opportunity to drill some step out holes and they identified an area which was outside of the known reserve that offered an indication that the continuation of the high grade gold deposits. They released these results on Feruary 12, 2018
After they released drilling results they had some financing issues and couldnt find a milling solution for their planned development of the mine. They opted to cut a deal for financing by using bulk sample concentrates as a means to acquiring the funding they needed to get the project rolling. After this was finalized they needed to find a milling solution and would eventually cut a 4 year deal with QMX Gold Corporation on October 30,2018. Pursuant to this Agreement, Gowest was obligated to fund certain upgrade permits and capital expenditures necessary to use the Mill in order to process the Bradshaw material as part of its bulk sample and pre-production program.
Once they settled these issues they recognized a need to consolidate shares in order to be able to further finance their project and opted to do a consolidation despite the fact they had built up a stock pile at the mine as they continued to develop the underground infrastructure on site. The recently completed their consolidation on a on a one (1) for ten (10) basis which seen their float go from 428,571,242 down to approximately 42,857,124. In doing this they were able to secure financing of $8,000,000 from Fortune Future Holdings Limited which will secure them for the foreseeable future.
On June 5th Gowest announced the commencement of their 2019 drilling program. This phase of the program will include six holes for approximately 1,000 (m) of underground drilling from the 45m Level. The drill holes are designed to both provide infill detail on stopes to be mined in the bulk sample area and to test recently identified, new high-grade gold zones to the north of the main deposit.
Japan Gold Corp. is a Canadian mineral exploration company focused on gold and copper-gold exploration across the three largest islands of Japan: Hokkaido, Honshu and Kyushu. The Company holds a portfolio of 12 Gold Projects which cover areas with known gold occurrences and a history of mining and are prospective for high-grade epithermal gold mineralization. The Company also holds a portfolio of 5 Lithocap Projects which could indicate the presence of porphyry mineralization. It is important to note the 76 mines gold mining operations were shut down by the government in 1943 after the war and since then only 12 have been re opened. Japan Gold is focused on bringing high grade gold mining and copper operations back into production.
The company has been very busy applying for the necessary permits to drill on their various properties and anticipate to be drilling over the course of the summer on two main properties which I will touch on momentarily. Part of the permitting process requires JG to get consent from regional forestry and local government officials due to the fact that some of the locations are in protected forestry areas. Japan has been relatively unexplored over the last few years which make the ongoing activities at JG a point of interest to the investing community.
The Ohra-Takamine Project drill program is on schedule to commence in June and will drill under and along strike of three historic mines in the central area of the Project. Permitting for this 2,100 metre, Phase 1 drill program is being finalized and the Company anticipates receiving the drill permit soon. Many similarities to major mining camps in the region that have produced 7 million ounces from surface mining operations.
The Ikutahara Project drill program, focused on the Kitano-o Prospect, is now expected to commence in July. Permitting for this 3,000 metre, Phase 1 drill program is near completion. The initial 3,000 m drill program at the Kitano-o Prospect will target veins within the central and western portions of the 3 km long east-west trending Kitano-o Mine workings.
They own Four drill rigs and they are in place to facilitate the Companys current exploration drilling plans. These drill rigs comprise two PMC400 and two PMC700 diamond core drill rigs with depth capabilities of 400 meters and 700 meters, in NQ core size, respectively. The compact nature of these drill rigs allows for rapid mobilization and set-up.
Anaconda Mining is a development, and exploration company, focused in the prospective Atlantic Canadian jurisdictions of Newfoundland and Nova Scotia. The Company operates the Point Rousse Project located in the Baie Verte Mining District in Newfoundland, comprised of the Stoger Tight Mine, the Pine Cove open pit mine, the Argyle Mineral Resource, the fully-permitted Pine Cove Mill and tailings facility, a deep water port and approximately 11,000 hectares of prospective gold-bearing property. In addition to all of this the Company also recently came In third place in a competition held by Barrick for a new narrow vein mining technology that they developed with a local university.
Anaconda Mining produced 20,149 ounces last year but continue to build a foundation for success as they explore all of their properties and look to increase production rates year over year. Some big name investors have been rumored to be sniffing around and you would be wise to start doing some dd on this company. To wrap this one up I will say that with so many irons in the fire, I think they have the potential for steady continued growth in the coming months and years.
This one is interesting due to its unusually small fully diluted share count of 39.5 million shares and the potential of the projects they are working on Orestone Mining Corp. is a Canadian based company that owns a 100% percent interest in the Captain gold/copper porphyry project located approximately 30 kilometers south of the Mt. Milligan Mine in British Columbia. In Chile, they have a 5 year option to purchase the Resguardo copper project which covers 2,905 hectares with historic production of high grade near-surface copper (>1-2% Cu) in the same metallogenic belt as El Salvador and Potrerillos copper mines operated by CODELCO.
Captain Gold project is a large early stage gold/copper porphyry discovery that covers 72 square kilometers. There are many logging roads on the property making it accessible year round. To date they have spent 4 million dollars on the project on drilling and geophysical studies. In June, they announced that exploration has begun and that the crew will be stream silt sampling along a 3000 meter structural trend of altered sediments and felsic intrusive rock. The company is in the process of renewing permits for further geological testing and three, 300 meter diamond drill holes which they intend to drill this year. Given the results they have had to date the market is anticipating the drilling campaign to prove out a potentially large and profitable resource.
The Resguardo property is located in an exceptional jurisdiction whereby there is excellent infrastructure in the surrounding area and they have full access yrar round to the site. Orestone is situated on the Domeyko Fault System which hosts some of the worlds largest copper deposits and not far away extending off of the same Domeyko fault is the Maricunga Gold belt which boasts numerous 5-20 million ounce deposits. Using IP they indicated a possible sulfide copper porphyry which is surrounded by a large hydrothermally altered zone of clay and silica covering 1 square kilometer. The company announced that it has initiated its exploration program which will include further geophysics in order to hone in on where to drill their first diamond drill hole.
I think that sums it up quite nicely So there really isnt much for me to say other than I am looking forward to the future drilling plans and results from said targets on both properties. While I try to focus on gold this company certainly had my mind drifting into what kind of copper deposit could they be sitting on to add to the value of their Canadian gold project. Multi asset mining operations are always nice because you get the butter with the bread so to speak.
Viva Gold is a gold exploration and development company with a focus on Nevada. Viva holds100% of the Tonopah Gold Project,a large land position with demonstrated high-grade measured, indicated and inferred gold resources, located on the prolific Walker Lane Trend in Nevada, 30 kilometers south-east of the Round Mountain mine operated by Kinross Gold.
Viva recently announced a new resource which included 24 new reverse circulation and four diamond core drill holes completed in three programs in 2018 and early 2019. A large tonnage of Inferred mineralization was converted into measured and indicated material giving them a 41% increase in reserve. The new measured and indicated reserve is 262,000 ounces at a grade of 0.93 g/t and has helped to refine the geological model, which has ultimately given them indicators of a continuation of the deposit and new drilling targets.
The 43-101 is expected to be filed any time now to reflect this and I would suspect the market will hear about a new exploration campaign shortly after they close the private placement they just re-priced to more accurately reflect the market. This is another junior with potential for growth given the geology associated with this project and its proximity to the Round Mountain mine. Lastly I would point out that they are fully diluted at 28.8 million shares.
Radius is a well-financed exploration company focused on gold exploration in Central America. The Company has had lots of success in the region, discovering several new gold deposits. While these discoveries have kept the Company financed, management is shifting its focus slightly an looking for projects available for acquisition. This should make for an exciting year for Radius as Radius looks to leverage assets and acquire new prospective properties. Lets take a look at their current projects
Bald Peak Project is a highly prospective hot springs sinter gold project, located in Nevadas Walker Lane Gold Belt. The property is 100% owned by Radius Gold Inc. and consists of 140 mining claims and 11 California mining claims. The Bald Peak Property is in close proximity to several high-grade gold mines, including Aurora, Bodie and Borealis, which are formed in a similar geological environment. Despite the Propertys proximity to several Au-rich mining districts, the area has seen limited exploration activity. In 2018, Radius conducted a CSAMT survey, more sampling, and visited planned drill holes. The company collected 269 rock samples, and over 3,000 soil and stream sediment samples and are currently working with the US Forest Service to permit an initial drill program.
Holy-Banderas Project is a 100% owned High-grade gold project in a historically gold rich region. Located 3 hours east of Guatemala and in close proximity to the Pan American Escobal deposit which has produced over 500 million ounces of silver, this property has yielded some very encouraging results. From the 343 g/t Au and 10,300 g/t Ag surface sampling program and 6.00 m @ 43.56 g/t Au and 1,618 g/t Ag drilling program. So far the project has yielded extensive shallow high grade intercepts at a depth of 150m or less. With several un-tested drill targets the company is hopeful that new opportunities will present themselves with the upcoming re-election which may have a positive impact on the local mining community.
The Amalia Project is located 25 km SW of the historic Guadalupe y Calvo mining district in Chihuahua which is part of the Sierra gold belt in Mexico. The region boasts some very impressive historical production estimates of 40 million ounces of gold and 2 billion ounces of silver and in the last 20 years many high profile miners have been working the area and finding many new mining opportunities. Radius initially acquired the 380 hectare core license and subsequently staked an additional 9,070 hectare regional license covering multiple target areas including the Rambler project which is in the early stages of exploration but showing very promising surface sampling results.In July 2018 Radius entered into an agreement with Pan American Silver Corp. to drill and explore the project. Radius has now completed two drill programs totaling3665m in 15 drill holes. The phase two drill program has expanded multi-phase gold and silver mineralization with two high grade mineralized shoots identified to date along the San Pedro structure. Highlights from the recent drilling consist of
If you are interested in the prospective gold mines being developed in Japan, then Irving Resources should be on your short list of companies to perform further due diligence on. Irving Resources has several projects under development in multiple locations but the one to focus on in my opinion is the Omui mining project in Japan on the Island of Hokkaido.
Okay, to be brief, the company is a Bob Moriarty favorite and another one of the projects that has Dr. Quinton Hennigh as a key consulting geologist as well as a director. The Omui project consists of multiple prospective zones along the northeast-trending Omu volcanic graben, host to multiple high-grade epithermal Au-Ag veins exploited at the historic Omui and Hokuryu mines prior to World War II. Irving believes the Omu volcanic graben has potential to host significant undiscovered high-grade veins., but the primary focus at the present time is the Omu sinter zone.
The Omu sinter is a high silica, low sulfidation Epithermal deposit. This is a classic hot springs model where silver and gold precipitate as boiling geothermal waters rise to near surface. Without going into too much detail in this short overview the current concept is that the first mineralization event brought the silver deposit up closer to the surface, then an intermediary fault shifted the fluid paths prior to the secondary gold transportation forming a gold trapping mechanism above the so called boiling zone. This is a similar configuration to the Hishikari mine operated by Sumitomo Metal Mining. The Hishikari is the largest active gold mine in Japan, producing about 225k oz per year. Interestingly, Hishikari has no mill. The deposit type at Hishikari (as well as Irvings Omui) allow the project the ability to ship the ore to smelters where it is used as smelter flux, The gold and silver are recovered during the smelting and refining of copper and result in high recoveries and low processing costs.
In addition to the knowledge provided by having Dr. Hennigh on the team, Newmont Goldcorp in April 2019 committed to purchase 3,715,630 million shares of Irving at a price of CDN $2.16 per share totalling US $6 million. Not only did this placement increase additional cash to continue to fund the exploration, Newmont is also providing advanced techniques and tools to optimize the drilling targeting this summer. After this placement the total shares fully diluted remain just slightly under 50 million shares which is a tight share structure for this highly prospective exploration company.
Westhaven is the largest claim holder on the highly prospective Spences Bridge Gold Belt, with over 30,000 hectares across three gold properties. The SBGB is a 110 km northwest-trending belt of intermediate to felsic volcanic rocks dominated by the Cretaceous Spences Bridge group. These relatively underexplored volcanic rocks are highly prospective for epithermal style gold mineralization and Given the projects proximity to large producing mines, highways, power, rail and expertise, exploration costs are in the lowest quartile.
Prospect Valley Gold is a 10,871 hectare plot of land located in British Columbia and situated on the Spencer Bridge Gold Belt (SBGB). Westhaven recently acquired 100% interest in this property subject to a 2% NSR but has been working on the property since 2011. Helicopter-borne and geophysics, soil and channel sampling and 57 diamond drill holes for a total of 8,818 meters have been completed since 2011 to which they have identified extensive low grade epithermal gold systems with indicators of high grade mineralization. The North and South Discovery Zones host a combined inferred mineral resource estimated at 166,000 ounces gold grading 0.511g/t gold in 10,077,000 metric tonnes above a cutoff grade of 0.30g/t gold. There is still a lot of work to be done on the property as they continue to find mineralization outside of the north discovery zone.
Skoona creek is situated near the northern end of the Spences Bridge Gold Belt (SBGB), a series of Cretaceous subaerial volcanic rocks with the potential to host epithermal-style mineralization. The property is a three hour drive by car from Vancouver, approximately 15 km from the Trans Canada Highway and the CPR Railway Line and 12 km northeast of Lytton, BC. Westhaven owns 100% interest in the property. Because this project is comprised of 3 locations separate areas I will refer you to the company presentation for further information in order to minimize the content in this article http://westhavenventures.com/projects/skoonka-creek-gold/details/
Shovelnose Gold is also located near the southern end of the Spences Bridge Gold Belt (SBGB) and covers 15,542 hectares. Westhaven has a 100% interest in this property subject to a 2% NSR. Westhaven has the option to purchase to purchase 1% of the 2%NSR back for $500,000. So far they have drilled 69 holes for a total of 18,212 meters across the entire property focused on 5 main areas and recently identified one more they have dubbed the South Zone. The 2018 drilling campaign yielded some impressive results that seen the stock make a good run over a dollar and has since retracted a bit.
Since these results have come back the company has recently announced that it has deployed a second drill which will expedite defining and expanding the South Zone mineralization as well as drill testing prospective regional targets and planning on drilling 20,000 meters at the Shovelnose gold property in 2019.
BTU Metals is a Canadian-based junior exploration company focused on its highly prospective Dixie Halo gold project in Ontarios Red Lake district. The Dixie Halo gold project consists of four properties totaling approximately 12,963 hectares surrounding Great Bear Resources Ltd.s Dixie gold project. GBR has been actively exploring the Red Lake District and coming up with Stellar results which leads me to believe that given the historic mining in this area that BTU can ride on the coattails of success and will be successful in finding many deposits of their own.
In May, BTU put out results from their initial field program from their D2 structural trend parallel to the one hosting the high grade Hinge Zone of Great Bear Resources Ltd.s Dixie Gold Project. Highlights of this release include
This new prospecting discovery led to the mobilization of a ground geophysical crew and initial planning of an IP survey to map out the zone and a drone magnetic survey was flown over the area to help direct the IP survey and generate drill targets. Since then BTU identified 6 targets and a new mineralized zone prospective for gold in mafic volcanic rocks along with pyritic sediments/iron formation and interpreted ultramafic rocks. Not unlike what GBR has been discovering of late in the Hinge Zone.
Nighthawk Gold Corp. is a Canadian-based gold exploration company with a district scale land position (222,203 acres or 900 km2), within the Indin Lake Greenstone Belt, located approximately 200 km north of Yellowknife, Northwest Territories. Nighthawk is focused on advancing theColomac Gold Projectwith a recently updated inferred resource of 2.6 million ounces of gold (50.3 million tonnes at an average grade of 1.62 gpt Au, and is also advancing its other regional gold deposits and showings on its Indin Lake Gold Property, within a highly prospective and underexplored Archean gold camp.
Since releasing their most recent drilling results from the Colomac project the share price has taken a nice run from .335 to as high as .59 cents and showing signs of market interest. Some of the highlights from the recent exploration include
As you can see they have had great success in this region and have recently closed a 12.6 million dollar bought deal private placement and are well funded moving forward in order to build on this recent success. The only knock I can see on this is that it is located in a very remote region with little to no access aside from an airstrip and a road that is currently being built since they got the permitting to do so. With such a large amount of CAPEX needed to see this project turn into a mine they will need a 5-6 million ounce resource before attracting serious attention from any majors. Many people have made comparisons to the Kalgoorlie region of Western Australia, and if in fact this deposit turns out to be even half of that there is an opportunity here to make some good money. This will take time to prove out as the exploration season is shorter than most given its location but is definitely one to keep your eye on in my opinion.
Max Resource Corp is a Canadian-based exploration company solely focused on exploitation of mineral assets in Colombia. The Company has established exploration infrastructure and local community support. Major copper-gold deposits have been discovered up and down the west side of South America except in the largely unexplored Choco Belt. Maxs 2,620 sq. km Choco property package covers 120 km along the Choco Belt in Colombia
Max seen a surge in its share price after showing the market pans loaded with gold but have yet to follow up with assays which has since hurt their share price but remains a highly prospective gold discovery. They have had issues recovering the gold with traditional methods and are looking to refine the process and in the meantime have been focusing on other projects and coming up with great results. Ultimately the company will need to resolve the pit sampling issues to regain investor confidence but have done a good job in way of progressing on many fronts in the interim. Lets have a look at their projects
Choco Gold and Platinum Project is located within the Choco District of Columbia, approximately 100km SW of the city of Medellin and has 100% ownership of 82 and 50% ownership of 7 mineral license applications, totaling over 1,757 square kilometers. Choco Pacific produced 1.5 million ounces of gold and 1.0 million ounces of platinum from the Choco District between 1906 and 1990, primarily on surface deposits at a depth of 8 meters or less.
The Company is working on an exploration model where the gold bearing conglomerates have formed at the base of the western slopes of the mountains to the east and considers systematic bulk sampling at surface to be the most practical means of determining grade. By sampling exposed faces of outcrops the hope is that it will provide an initial assessment of thickness, depth and vertical continuity of the gold through the system.
North Choco Gold and Copper Project On May 7, 2019 Max signed a binding letter of intent with Noble Metals Limited and Buena Fortuna Mining Company Pty Ltd. to acquire up to 100% of their interest in Andagueda Mining Pty Ltd. which holds an exploration and mining agreement with the Tahami Indigenous Reservation of Alto Andagueda for the Choco Gold-Copper Project.
North Choco Gold-Copper is located to the northeast of Maxs 2,140 sq. km Choco Gold-Platinum Project, about 100km SW of Medellin, Colombia and on trend with other prospective mining rights. The mining agreement with the Tahami Indigenous Reservation of Alto Andagueda encompasses 500 sq. km of the Reservations land area and includes exploration and development of economic mineral resources on Indigenous Communities Mining Zone 8-1704 covering 6535.7 hectares and Mining Concession BAE-112 covering 720.6 hectares.
Gachala Copper Project is located 60kms east of Bogata, Colombia, The 100% owned 13,677 hectare covers an aggregate total of 39-line kms of the 250km by 120km belt of Devonian through Cretaceous age rocks in a geological setting conducive to hosting sedimentary copper deposits, believed to be analogous to the Zambian Copper Belt of Africa. 4 license applications are contiguous to the three of the earlier license applications southwest of the Cano Negro area, where historic sampling has identified a 25-kilometre strike length of copper enrichment with grades ranging from 0.6% to 13% copper.
The Colombian Geological Survey has identified a 4-kilometre-long cobalt anomaly on the western side of two of the license applications and The Companys in country geologist is currently researching the Colombian databases for details on the cobalt. This metal is of extreme interest to the Company as cobalt is one of the key accessory metals for sedimentary copper deposits.
The company is proceeding with a surface survey exploration program to help in identifying targets for trenching and diamond drilling throughout the 7 licensed applications. If these results come back positive they will be looking to add to the land package for future exploration.
Minera Alamos is an advanced-stage exploration and development company with a growing portfolio of high-quality Mexican assets, including theLa Fortuna open pit gold project in Durango with positive PEA completed (permits awaiting issuance) and the Santana open pit heap-leach development project in Sonora with test mining and processing completed (permits pending). The Company anticipates making a construction decision at Santana in 2019 and advancing both Santana and Fortuna in to production in 2019-2020.
Minera Alamos Operates in Mexico which is the largest producer of silver in the world and a top global producer of gold, copper and zinc and other important metals and minerals. With its 500-year mining history, stable government and attractive mining investment environment, Mexico ranks globally as one of the most favoured mining and exploration jurisdictions. Despite its extensive mining history, Mexicos mineral potential remains very strong with multiple, productive metallogenic belts and a considerable portion of the country still deemed underexplored. Here is a list of their projects
The Santana project is located in Sonora State, Mexico and Minera is 100% percent owner of this 8,500 hectares property which is accessible by paved highway. It is strategically positioned in a rich mining district that features operational mines from some of the worlds leading names in precious metals mining (Goldcorp, Agnico Eagle, Alamos Gold). This is a low CAPEX open pit heap-leach development project with test mining and processing recently completed. The hope is that there is near term potential for this project to become a viable open pit mining operation.
While there were historic resource calculations done on the Santana project, including new modeling done at the time of the Corex/MAI merger, none of these resources are NI 43-101 compliant. The Company anticipates publishing a maiden NI 43-101 resource estimate on the project following the 2019Phase 2 drilling, which will form the basis of the initial proposed mining plan currently being prepared.
La Fortuna project is located in Durango State, Mexico. . Minera Alamos acquired 100% of the 4 mining concessions that comprise the La Fortuna project in May 2016 from Argonaut Gold Inc. Minera Alamos has received a positive notification from the Mexican environmental authorities confirming the successful completion of the technical review phase of the Companys application for the change of land use to construct mining and processing facilities at the Fortuna project area.
Multiple zones of Fortuna-style mineralization are identified on the project, some of which have alteration zones significantly greater in scale than present at La Fortuna. No systematic exploration has been conducted on the property since 2008-09. The identification of a new area (La Pista) approximately 1300m southwest of the Companys La Fortuna Main Zone resource that contains significant near surface disseminated gold/silver mineralization with heap leach style intervals of up to 50m in width. Rock sampling surrounding the new target zone has returned assays up to 8g/t Au and 30g/t Ag over a mineralized area of approximately 500m x 300m. Plans were completed to include testing of the new area in addition to other known areas of historical mining as part of the Companys Fortuna exploration plans for 2019.
Minera Alamos has a strategic partnership with Osisko Gold Royalties that includes an option to provide a significant portion of the project capital requirements in return for a project royalty. This partnership, coupled with targeted optimizations, will greatly reduce the upfront funding requirements of what is already a low capital cost operation here is a table of the overall resource on this project.
Guadalupe de Los Reyes project is located in Sinaloa State, 200km by road north of the coastal city of Mazatln and 30 km by road southeast of the town of Cosal. The property covers 15,575 hectares of land in an area which is enclosed by an east-southeast trending mineralized structure that extends over 2.5 km and is up to 100 m in width. It is composed of two main veins, Guadalupe and San Manuel, with stock work and numerous quartz veinlets in between. The Guadalupe Mine zone was developed by underground methods to a depth of about 400 m and along a strike length of approximately 1000 m. Historic recorded production for the mine was estimated at 875,000 t, comprising over 70% of the districts recorded gold production.
Nine target areas have been identified along nine structural vein zones. Some of these targets have bulk tonnage potential, which may be amenable to open pit mining, such as El Zapote, San Miguel, Guadalupe Mine (Laija and West), Tahonitas, Noche Buena, and El Orito zones. The El Zapote zone has received the most extensive exploration to date.
With gold in an obvious up trend I think its safe to say that most gold mining companies will see significant gains as gold rises in value and we move into a bull market, which will allow them to realize significant gains in profits and allow them raise capital for further exploration as money pours back into the mining sector. Majors will continue to look at juniors as possible takeover targets and the commodity markets will prosper once again.
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I am a 3rd generation miner who was born and raised in the silver capital of Canada, Cobalt, Ontario. For the last 10 years I have been invested in the mining sector and as a retail investor found it difficult gathering information on companies of interest. For this reason we created Insidexploration.com as a means to share our due diligence with investors all around the world. Disclosure The thoughts and opinions expressed in my articles and research reports are my own and do not represent those of the companies I write about. I often buy and sell the stocks I write about and may do so at any point in time without warning. Disclaimer My articles and research reports should not be considered a solicitation to purchase or sell securities or a recommendation to buy or sell securities. The information provided is derived from sources believed to be accurate, but cannot be guaranteed. I do not take into account the particular investment objectives, financial situations, or needs of individual recipients and other issues (e.g. prohibitions to investments due to law, jurisdiction issues, etc.) which may exist for certain persons. I am not a registered financial advisors and one should always do your own due diligence and consult a licensed investment adviser prior to making any investment decisions. Always reference www.SEDAR.com for important risk disclosures.
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