In the world of junior explorers and developing producers, it’s quite often the drill results that move the needle on the share price. Now that we are at mid-summer that means the drill programs for various junior miners are in full swing. Assays are starting to come back from the lab and announcements are finally arriving. It’s best to recognize opportunities during the dog days of summer while most brokers are on holidays and the market as a whole generally cools off. This year is a little different in the sense that gold is hot and forecasts are projecting a bull market in precious and base metals.

In order to allow investors time to do some research, prior to the assay announcements, we are launching a multi-part series of articles projecting upcoming drill announcements to help bring awareness to new investment opportunities. Based on average timelines, respective start dates of drill programs, past drill metrics and company news releases, we believe these are some companies to keep an eye on. Without further ado, we present the first part of our Assay Announcement Watchlist in hopes that you find value in investing


Sabina Gold and Silver Corp, TSX.V-SBB

Sabina Gold & Silver Corp. is a Canadian precious metals company on track to become a mid-tier gold producer. The Company has a portfolio of properties in Canada at different stages of development. The Company’s flagship projects are currently located in Nunavut, in the Canadian North. However they also hold silver royalties on the Hackett River property and multiple claims in the Red Lake district.

Back River Gold project

The 100%-owned Back River Gold Project, a series of gold deposits in banded iron formation, is located in southwestern Nunavut, Canada, approximately 520 km northeast of Yellowknife, NWT; 50 km southeast of Xstrata Zinc Canada’s Hackett River Silver-Zinc Project; and 75 km southwest of Bathurst Inlet.

The project is advanced, hosts significant NI 43-101 gold resources and reserves and has completed a Feasibility Study and significant permitting milestones. Moreover, Back River is an 80km long district, with highly prospective opportunities for new discoveries and for expansion from existing deposits.

Hackett Property

Hackett River, located 45 km west of the Company’s Back River gold project in Nunavut, is a silver rich volcanogenic massive sulphide project and is one of the largest undeveloped projects of its type. In 2011, the Company sold Hackett River to Xstrata Canada Corporation, Zinc Canada Division (“Xstrata”) which is now Glencore Canada Corporation (“Glencore”).

The Company received $50 million in cash and retained a significant silver royalty on Hackett River. Under the terms of the royalty, Sabina is entitled to receive 22.5% of silver production up to the first 190 million ounces produced and 12.5% of all silver produced thereafter at Hackett River. Although Sabina is no longer the owner of Hackett River, it still considers its royalty interest in the project to be a material mineral project for the purposes of NI 43-101.

Sabina began drilling in the middle of April this year at their Goose site located on their Black River Property in Nunavut, northern Canada. The current drilling program is part of a planned 8000m drill operation to achieve two objectives:

(1) to focus on high grade zones to achieve resource optimization and

(2) the continued scoping of a newly discovered Nuvuyak zone.

So far, two holes are planned for the Llama extension which already hosts high grade gold shown last year. Also, one underground hole will test up-plunge of the Vault Zone which has already shown thickened iron formations and higher gold grades. Since this initial plan was announced in April, 2019, the company has reported two NRs (see below) with one in June and the other recently on July 18th.

Recent Drill Observations/ Assay Data:

July 18, 2019

Sabina Gold & Silver Continues to Expand the Nuvuyak Discovery With Strong Gold Values Over Broadly Mineralized Iron Formation 

18.71g/t Au over 3.5m and 10.04g/t Au over 18m from drill hole 19GSE566

Best Recent Drill Assay Data:              

June 19, 2019

Sabina Gold & Silver Reports Initial Results From Spring Drill Program 

14.97g/t Au over 21.75m , 180 meters up-plunge of the high-grade Vault Zone

According to their President and CEO, they are expecting assays from up to 4 more holes in the coming weeks.

For more information please visit: http://www.sabinagoldsilver.com/


Walker River Resources, TSX.V-WRR

Walker River Resources is a junior mining company focused on advancing high-grade, low cost mining opportunities into production.The company’s flagship asset, the Lapon Canyon project in Nevada, exhibits potential for high-grade vein type gold mineralization as evidenced by the past underground activities on the property

Lapon Canyon Gold Project

The Lapon Canyon Gold project, consists of 19 leased claims and 17 lode claims, for a total of 36 claims (720 acres-292 hectares). Situated some 60 km south of Yerington, Nevada, this project is easily accessible via state maintained secondary roads from the main highway. It is located in the deeply incised valley of Lapon canyon, which is the site of historic gold placer mining in the 1900’s. The Lapon Canyon Project is located within the Walker Lane Shear Zone, a 100 km wide structural corridor extending in a SE direction from Reno. The past producing historic Comstock Lode silver/gold mine is located within this trend, as is the past producing Esmeralda/Aurora gold mine, which is located 30 km SW of the project. as well as Gryphon Gold’s currently producing Borealis Mine located only 25 km south west of Lapon Canyon. The company also recently added the Pikes peak and Rattlesnake properties to their portfolio.

Exploration is presently ongoing on all of the Companys’ projects. Most anticipated will be the drill results from a follow-up program that was initially done on the Lapon Canyon Gold Project in 2018 with great success. Walker River has begun drilling as of the end of May, focusing on infill and expansion drilling of the Lapon Rose zone. Further holes will test their understanding of the mineralized gold zones which appear to be “open in all directions”, according to President Michael David.

The company has a planned 30 hole drill program with the total length of the program unknown. Speculation has ramped up on multiple chat forums recently in anticipation of incoming drilling results. Definitely one to keep an eye on as the results could come anytime as most feel they are long overdue…

Recent Drill Observations/ Assay Data: 

Tuesday, February 19th, 2019  

Walker Announces Additional Drill Results from the Lapon Canyon Gold Project 

10.23 g/t Au (uncut) over 19.9 meters at a depth of 50.3 meters and 221 g/t over 1.5 meters at a depth of 57.9 meters. RC drill hole LC18-30 returned 93.5 g/t Au over 1.5 meters at a depth of 42.7 meters

Best Recent Drill Assay Data:              

January 30, 2019 

Walker Announces Initial Drill Results from Lapon 

31.1 g/t Au (uncut) over 13.7 meters (near surface)

Initial RC drilling at Lapon Rose should be released at any time from now until the end of August.

For more information visit: http://wrrgold.com/


Aben Resources ltd, TSX.V-ABN

Aben Resources is a publicly traded Canadian Gold Exploration Company advancing projects in British Columbia‘s Golden Triangle region and in the Yukon Territory. Aben’s flagship project is The Forrest Kerr gold property, which lies in a very prospective region of British Columbia, yet they continue work on The Justin project given that they are getting good results from their most current exploration efforts on the property.

Forrest Kerr Gold Project

This 23,000 hectare property is located in the heart of a region called the GOLDEN TRIANGLE in northwestern British Columbia. This region has hosted significant mineral deposits including: Pretium (Brucejack), Eskay Creek, Snip, Galore Creek, Copper Canyon, Schaft Creek, KSM, Granduc, Red Chris and more. Aben is acquiring a 100% interest in the Forrest Kerr Project located along the Forrest Kerr Fault which consists of a 40 km long north-south belt overlying rocks of the Hazelton and Stuhini Groups, a complex assemblage of volcanic accumulations with intervening sedimentary sequences which are host to significant gold deposits in the Golden Triangle region.

First season of fieldwork and drilling led to a significant discovery now called the North Boundary Zone. 

  • Drill Hole FK17-04 returned a broad intercept of 0.26 grams per tonne (g/t) Au over 387 metres (m) that includes 6.7 g/t Au, 6.4 g/t Ag and 0.9% Cu over 10.0 m from 16.0 to 26.0 m depth. Within this interval was a section which returned 18.9 g/t Au, 16.6 g/t Ag and 2.2% Cu over 3.0 m.
  • Drill Hole FK17-05 returned a broad intercept of 1.2 g/t Au, 1.8 g/t Ag and 0.21% Cu over 122 m that includes 10.9 g/t Au, 14.6 g/t Ag and 1.5% Cu over 12 m with a high grade core of 21.5 g/t Au, 28.5 g/t Ag and 3.1% Cu over 6 m.
  • Drill Hole FK17-06 returned a broad intercept of 0.51 g/t Au, 1.03 g/t Ag and 0.1% Cu over 94 m including 2.91 g/t Au, 5.2 g/t Ag and 0.6% Cu over 14 m.
  • Remains open in multiple directions with numerous soil geochemical anomalies yet to be drill-tested.
  • The zone displays a high degree of continuity for gold, silver and copper mineralization and is open to the East, West, North and down-dip.

Justin Gold Project

Aben Resources holds a 100% interest in the 7,400-hectare Justin Gold Project. The property is located in the southeast Yukon on the Tintina Gold Belt to the immediate southeast of Golden Predator’s 3 Aces project. The Justin Project is approximately 35 kilometres southeast of the Cantung Mine and has an all season road running through the claims.

Justin Property, Yukon Location Map

The 2019 exploration at the Justin Gold Project will include drilling, prospecting, geologic mapping and surface sampling across the highly prospective property. The first phase is anticipated to begin in early June with mobilization of a track mounted Rotary Air Blast (RAB) drill to the recently discovered Lost Ace Zone, where 2018 trenching returned values ranging from trace to 20.8 g/t gold over 4.4 meters including 88.2 g/t gold (Au) over 1.0 m.

Justin Project Geochemistry Compilation Map

The company is set to expand its drill season with ambitious plans of drilling 2000m on the Justin property, which began around June 10th and concluded at the beginning of July. As for the Forrest Kerr property, the company intends to drill 5,000m with potential to expanded to 10,000m if results go well.

Forrest Kerr drilling has commenced already, as announced on July 9th, 2019. Drilling targets will be focused on the North Boundary Zone which provided 38.7 g/t over 10.0m. A Limit on permitted pad locations held up progress last year, but that is not the case with 45 holes planned this year. 

Both projects are well funded and well underway.

Recent Drill Observations/ Assay Data:

To date, the Justin Property has produced gold mineralization hosted within sheeted vein arrays, stockwork, breccias and skarn replacement mineralization with several other mineral occurrences that warrant further evaluation.

Best Recent Drill Assay Data:             

(N/A for 2019)

Assays from Justin Gold Project can likely be expected as early as late July and hence forward, a continuation of data from both properties in August.

For more information visit: https://www.abenresources.com/


Transition Metals Corp, TSX.V-XTM

Based in Sudbury, Ontario, Transition Metals is a multi-commodity exploration company using the project-generator business model. This approach maximizes shareholder exposure to discoveries and capital gain while minimizing shareholder equity dilution by selling interest in the projects rather than ownership in the Company. Funding to advance the projects and make discoveries comes from partners that receive an interest in a project in exchange for cash payments, exploration expenditures, royalties and shares.

For our purposes, we will focus on just two of their projects which they are actively working…

Highland Gold Project

Located in the Northern portion of Nova Scotia, Transition metals optioned this land package from award winning Nova Scotia prospector Joe Richman in August 2018. The region was identified as a large regional stream sediment gold anomaly which was outlined in the 1980’s. The area hosts similar age geology to gold deposits in the Carolinas, Newfoundland and the British Islands and recent work by Transition Metals identified potential for high sulphidation gold systems on the property.

On June 5th, 2019, Transition announced that they had resumed exploration drilling at its Highland Gold Project in Cape Breton, Nova Scotia. The resumption of drilling is a follow-up from the 2018 program which got stalled from the onset of winter. There are still 15-30 holes planned for completion with another 1000m of (RC) drilling from that program. Additional work is planned for a summer program as well so results should continue to flow throughout the rest of the summer and fall.

On July 15th, Transition announced one hole (see below) from the spring program testing an area where composite sampling had been conducted. According to their CEO, 6 of 28 closely spaced holes  over 568 metres have been completed in this program.

Sunday Lake Project

Now being aggressively advanced by NAP, the operator of the nearby Lac Des Iles Mine and Mill PGM complex near Thunder Bay, Ontario. Recently announced that drilling has returned values of up to 41.2 m grading 5.11 g/t combined PGM’s including 15.8 m grading 9.11 g/t PGM’s representing some of the best grades and thickness for a deposit of this type in the world. Transition retains a 25% interest in the project carried to feasibility, providing its shareholders a significant stake in a premium platinum group project as it is progresses towards production.

“We continue to expand the PGM zone at Sunday Lake. This is currently our most advanced regional exploration project and represents our best bluesky opportunity and a key element in our long-term strategy of building an inventory of high-quality PGM assets in the Thunder Bay region.”

Highlights:

  • Thickest and highest grade intersection encountered to date on the property reported in hole SL-19-026 that returned 41.20 m @ 5.51 g/t PGM (3.22 g/t Pt, 2.08 g/t Pd, 0.21 g/t Au) and 0.57% Cu including a high grade section of 15.80 m @ 9.11 g/t PGM (5.42 g/t Pt, 3.35 g/t Pd, 0.34 g/t Au) and 0.88% Cu. • Hole SL-19-29 intersected 61.00 m @ 2.20 g/t PGM (1.20 g/t Pt, 0.80 g/t Pd, 0.15 g/t Au) including 8.17m @ 5.44 g/t PGM (3.20 g/t Pt, 2.00 g/t Pd, 0.33 g/t Au).
  • Drilling has confirmed extensive PGM and base metal sulfide mineralization located along the lower part of the Sunday Lake intrusion (the “SLI”) that is modelled by NAP as a near-continuous blanket with a north-south extent of approximately 1.5 km and an east-west extent of 900 metres.
  • High-grade PGM mineralization associated with the basal contact of the SLI can be successfully targeted using surface and borehole geophysics.
  • Numerous high-quality targets remain to be tested.

Recent Drill Observations/ Assay Data:

July 15, 2019

4.0 Metres Grading 16.15 Grams per Tonne Gold Returned from Initial Assay Results from New Drilling at Transition Metals Highland Gold Project 

Best Recent Drill Assay Data:           

April 29, 2019

Transition Announces Sunday Lake Drill Results 

41.20 m @ 5.51 g/t PGM (3.22 g/t Pt, 2.08 g/t Pd, 0.21 g/t Au)

Assay reports are pending for the remaining 27 of 28 holes so a continual flow of data should be reported in the coming days and weeks.

For more information visit: http://www.transitionmetalscorp.com/


Compass Gold Corp, TSX.V-CVB

Compass Gold Corp. is a public mineral exploration company incorporated in Ontario. Compass holds gold exploration permits in Mali that comprise the Sikasso Property in Mali, Africa. Today, these permits cover three sites in southern Mali with a combined land holding of 854 sq.km. Interpretation of high-resolution airborne magnetic and radiometric geophysical data has identified multiple exploration targets, particularly in areas with little or no outcrop showings.

The Sikasso Project

Today, the Sikasso Property consists of nine prospecting permits covering an area of approximately 850 sq. km and is located within the Sikasso Region of the Republic of Mali. The Property divided into three permit blocks: Yanfolilia North, Yanfolila South, and Kalé. The Yanfolila North block consists of the adjoining Faraba-Coura and Ouassada permits, and the non-contiguous Sankarani permit, and covers an area of 254 sq. km. The Yanfolila South block comprises the adjoining Kourou, Tieoulena, Badogo and Lontola permits, and covers an area of 400 sq. km. The Kalé block covers an area of 200 sq. km, and is composed of the Kalé and Kapéléngué permits, and is situated approximately 230 km east-southeast of the southern Yanfolila permit. All permits are owned by Compass’s subsidiary Mali Gold Exploration Pty Ltd (“MGE”).  

In the middle of June, Compass embarked on a focused drill program on their Sikasso Property in Southern Mali. It has initiated the first of at least 20 planned RC drill holes, as part of a 3000m program at the Farabakoura artisanal workings where intense gold mining has occurred in the past. Their objective is to identify and follow artisanal gold veins near surface and to increase the strike length of known mineralization areas.

In addition to this location, ground samples are being taken from two other permit areas following closely a ground high resolution magnetic-survey done recently. Assays for these ground samples may appear soon, but the real focus is on the holes that will be drilled into the Greenstone belt lithology.

Recent Drill Observations/ Assay Data:

May 15, 2019

Drilling at Farabakoura Intersects 32 m @ 3.02 G/T Gold 

32 m @ 3.02 grams per tonne (g/t) gold (Au) from 24 m (approx. 60-90% true width)

Best Recent Drill Assay Data:             

March 28, 2019

Compass Gold: Diamond Drilling at Farabakoura Intersects High-Grade Gold Mineralization 

4 m @ 83.82 g/t Au from 63 m   (approx. 60-90% true width)

Farabakoura RC hole assays, into ancient Greenstone Belt lithology, should start to arrive at some point in August.

For more information visit: http://compassgoldcorp.com/


In closing, these are just five of the many companies that have drill programs in place and that are expected to be issuing news releases over the next few weeks. We hope this article can serve as a starting point in your due diligence on these and other companies in the junior resources sector. Over the next couple weeks we will be adding additional companies to these reports of anticipated assay releases to help our readers keep up with expected announcements.

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Researched provided by @Slowride
Written by @lexcon
Edited by @Mikeymike426

Disclosure: @slowride holds a position in WRR

Disclosure: This article was not sponsored or a paid service and are the views of the authors. This article may contain forward looking statements and should not be considered investing advice as we are not financial advisors. We recommend seeking out professional assistance prior to making any investing decisions and as always do your own due diligence.