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 cut’s 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 sp’s from dropping in the same fashion.
Canadian Marijuana index
Where am I going with this you ask?
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 I’m 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 that’s 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.
RNC Minerals Corp, TSX:RNX
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 80’s 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 Australia’s 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
–Resource update and potential continued drilling program to further define the resource
-Ramp up in production with an increased annualized run rate with potential to exceed 60,000 ounces
-5,000 m of pure exploration drilling at Beta Hunt
-increased profit margins as Gold gains traction
-Updated analyst reports
-Institutional investors taking notice
For more information visit
Wallbridge Mining Co Ltd, TSX:WM
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 30’s 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.
Upcoming catalysts to look forward to over the rest of this year are:
-50,000 meter drill program, with drill rigs set up to further define Area 51 as well as extend the mineralization area of the Main zone with both surface and underground drilling.
-Approval on the request to extend the bulk sampling program in order to test production and processes in the Main discovery zone.
-Continue the permitting process for commercial production at Fenelon with a commercial operation target of 2020.
For more information visit
Pacton Gold Inc, TSX-V:PAC by @Brandy
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.
–Goldspot Discoveriesreport identifying drilling targets
-Drilling campaign on the Red Lake project
For more information visit
Lion One Metals Ltd, TSX-V:LIO By @lexcon
“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 I’m 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.
-Results of an initial CSAMT (controlled-source audio-frequency magnetotellurics) program used to identify mineralized structural zones to depths of up to 1,000m.
-Lion One also plans to collect closed-spaced gravity measurements to help elucidate structural controls
– 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.
For more information visit
Walker River Resources Corp, TSXV:WRR
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.
Some of Previous Drilling highlights include…
22.9 meters at 7.84 g/t
13.7 meters at 48.02 g/t
12.2 meters at 77.62 g/t
9.2 meters at 39.17 g/t
This year’s 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 Corp’s Pamlico project. Several past producing mines can be found nearby yet it remains relatively unexplored and has good potential for new discoveries.
-Drilling updates expected in the near future
-Update on the geophysical data being collected
-Update on the LOI with Smooth Rock Ventures
For more information visit
Harte Gold Corp, TSX:HRT
Harte Gold is Ontario’s newest producing gold mine, located near White River, Ontario. Harte’s Sugar Zone property is located about midway between Barricks’s Hemlo mine and Alamos Gold’s Island Gold property. The Sugar Zone property consists of three main productive zones (The Sugar zone, Middle zone and Wolf zone) with some other area’s 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.
– Expansion of the mill and ramp up to the permitted 800 TPD rate.
– Higher grades and higher production leading to lowered AISC in 2020
– Further drilling and downhole IP to convert more resources from inferred to indicated.
– Confirmation of convergence of Sugar Zone and Middle Zone at depth
– Possible takeover target with a CEO actively promoting the project to potential buyers.
For more information visit
Newrange Gold Corp TSX-V:NRG
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 1920’s 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. Newrange’s 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.
-Continuation of the exploration of the various underground workings left behind
-A targeted drilling plan in the once they have collected enough data
-Potential take over target
-More results from their exploration program
For more information visit
iMetal Resources Inc TSX-V:IMR
Currently planning an aggressive exploration drilling campaign this summer after last year’s 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 year’s 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. iMetal’s 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.
-Update on Geophysical work, grab sampling, channel sampling and newly identified areas for future exploration potential
-Update on plan for the 2019 drilling campaign
For more information visit
GoWest Gold TSX-V:GWA
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 Corporation’s North Timmins Gold Project. Gowest is exploring additional gold targets on its +100‐square‐kilometre 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 43‐101 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 Pre‐Feasibility 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 cut‐off 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…
|Hole||From (m)||To (m)||Length||Au (g/t)|
The above intervals reflect approximate true widths of the mineralization. Reported gold values are uncapped.
After they released drilling results they had some financing issues and couldn’t 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.
-Drilling results from their most recent program
-Continuation of development underground operations
For more information visit
Japan Gold Corp TSX-V:JG
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 Company’s 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.
-Approval of permits to drill
-Commencement of the 2019 drilling campaign
-Future drilling results
-Potential target for JV with mid and top tier miners
For more information visit
Anaconda mining TSX:ANX
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 Stog’er 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.
They currently run two mining and development projects
They currently have three Exploration Projects
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.
–Bulk Samples are expected in the near future
–Drill results and advanced exploration results from The Tilt Cove Project
For more information Visit
Orstone Mining Corp TSX-V:ORS
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.
Here is a breakdown of the two projects with some highlights.
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 world’s 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 isn’t 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.
–Exploration results from the geophysical data
-Announcement of the future drilling programs
For more information visit
Viva Gold Corp, TSX-V:VAU
Viva Gold is a gold exploration and development company with a focus on Nevada. Viva holds 100% 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.
–Technical report to be filed in July
-Closing of Private Placement
-Update on exploration program for 2019
For more information visit
Radius Gold Corp TSX-V:RDU
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 Nevada’s 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 Property’s 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 totaling 3665m 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…
-44m grading 12.38 g/t Au and 309 g/t Ag
including 11m grading 39.9 g/t Au and 323 g/t Ag
-28m assayed at 2.3 g/t Au and 126 g/t Ag,
including 3m at 9.85 g/t Au and 761 g/t Ag
-81m at 3.75 g/t Au and 61 g/t Ag,
including 21m at 7.91 g/t Au and 65 g/t Ag
–More drilling results
-possible land acquisitions
For more information visit
Irving Resources, CSE:IRV By @lexcon
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.
-Assay results from drill holes #3, #4 and #5 at the Omu Sinter site
-Continued drilling at Omu sinter over the summer
-Trench and bulk samples as well as drilling at other selected targets on the Omui Property
-Geophysical surveys (summer and fall) on the West Hokuryu area
For more information visit
Westhaven Ventures inc. TSX-V:WHN
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 cut–off 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.
2018 Exploration Highlights Include:
This year they have been very active in drilling this property and continue to produce high grade results.
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.
–Drilling results from the recently announced drilling campaign
-Update on exploration activities on their other projects
For more information visit
BTU Metals Corp. TSX-V:BTU
BTU Metals is a Canadian-based junior exploration company focused on its highly prospective Dixie Halo gold project in Ontario’s 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.
BTU recently contracted Forage M3 Drilling Services to execute the upcoming drill program on their recently identified targets by their field team and Geophysical surveying.
-Completion of geophysical surveys
-Update on the summer drilling campaign
-Drilling results (late summer/Fall)
For more information visit
Nighthawk Gold Corp. TSX:NHK
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 the Colomac Gold Project with 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.
-Continuation of exploration
-Potential for a much higher resource
-Completion of access road
For more information visit
Max Resouces Corp. TSX-V:MXR
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. Max’s 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. Let’s 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 Max’s 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 Reservation’s 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.
Recent developments and highlights of this project are as follows…
|Sample ID||Gold (gram/ton)||Copper (ppm)||Cobalt (ppm)||Location||Description||
|19000181||15.75||3778||218||Morron||Vein zone with pyrite, chalcopyrite, galena||0.4|
|19000183||1.58||1224||234||Morron||Vein zone with pyrite, chalcopyrite, galena||0.4|
|19000184||5.63||183||50||Morron||Vein zone with pyrite, chalcopyrite, galena||0.4|
|19000186||8.45||58||6||Morron||Vein zone with pyrite, chalcopyrite, galena||1.0|
|19000192||80.44||18233||264||QME||Granodiorite with pyrite & chalcopyrite||0.3|
|19000188||155.27||27,658||551||Morron||Vein zone with pyrite, chalcopyrite, galena||0.4|
|19000189||27.15||1,369||368||Morron||Vein zone with pyrite, chalcopyrite, galena||0.4|
|19000187||18.23||64,490||513||Morron||Vein zone with pyrite, chalcopyrite, galena||0.4|
|19000185||8.52||13,570||142||Morron||Vein zone with pyrite, chalcopyrite, galena||0.4|
|19000194||4.52||6,780||194||QMW||Granodiorite with pyrite & chalcopyrite||0.25|
|19000197||3.92||69||26||Bocamina||Granodiorite with pyrite & chalcopyrite||0.4|
|19000298||2.94||137||69||California||Basalt diorite, contact zone||0.3|
The North Choco project has been a great success to date and exploration of the property continues on schedule.
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 Company’s 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.
–Pit samples from the Choco Gold and Platinum project
-Continued success on the North Choco Gold and Copper project
For more information visit
Minera Alamos inc. TSX-V:MAI
Minera Alamos is an advanced-stage exploration and development company with a growing portfolio of high-quality Mexican assets, including the La 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, Mexico’s 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 world’s 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 2019 Phase 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 Company’s 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 Company’s 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 8 g/t Au and 30 g/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 Company’s 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.
|Measured + Indicated||3,469,700||2.78||16.5||0.22||309,800||1,842,200||7,600|
For more information on the 4 zones of this project please go to https://www.mineraalamos.com/our-assets/la-fortuna/exploration-targets/
Guadalupe de Los Reyes project is located in Sinaloa State, 200 km by road north of the coastal city of Mazatlán and 30 km by road southeast of the town of Cosalá. 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 district’s 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.
The main focus for Minera seems to be The Santana property but with the recent closure of a private placement I expect to hear about future exploration plans across its three projects.
-Advance exploration efforts
-Progression towards becoming a producer
For more information visit
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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@lexcon and @brandy Collaborated on this Article with me
Disclosure: We hold a position in RNC but are not paid to provide any Marketing services.
Disclosure: IMR is a client of insidexploration however the opinions expressed in the article are those of the author and may not necessarily be the views of iMetal Resources.
Disclosure: MXR is a client of insidexploration however the opinions expressed in the article are those of the author and may not necessarily be the views of Max Resources.
Disclosure: This article was not sponsored or a paid service and are the views of the author. 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 help prior to making any investing decisions and as always do your own due diligence.