Triumph Gold TSXV.TIG commenced a 13,000 metre diamond drill program at its road accessible Freegold Mountain project in the Dawson Range, Yukon. The program will test several new drill targets identified during 2016 field exploration and data review. The 2016 work focused on identifying geological controls on mineralization at the Revenue and Nucleus porphyry deposits on the Freegold Mountain Property. These studies recognized an early stage of porphyry-style mineralization that was not targeted during past exploration. The work defined three new exploration targets, one each at Revenue and Nucleus, and a newly identified porphyry target at the Generation Zone.
- Drilling is now underway at the Generation Zone, a newly recognized porphyry Cu-Au system. The identification of high density stockwork with multiple vein events, high temperature alteration, and associated copper and gold mineralization indicates that the Generation Zone represents a high-temperature core to a porphyry Cu-Au system. Triumph plans 2,000 metres of drilling to test this zone.
- A second drill will be mobilized within a week and begin drilling at the Revenue and adjacent Blue Sky Zones. At Revenue, past exploration focused on the mineralized margin of an approximately 1 km long elliptical diatreme.
- Other areas that will be drill tested include the Nucleus Zone (4,000m) and a soil and geophysical anomaly that extends 2 km along strike between the Nucleus and Revenue deposit areas (2,000 m).
Go to www.triumphgoldcorp.com for full news release dated June 7, 2017
#RenforthResources $RFR has completed the New Alger #joint #venture, resulting in Renforth assuming 100% ownership of the New Alger mining concession, subject to a 2% NSR.
New Alger hosts an inferred gold resource of 237,000 ozs of gold located above a depth of 200m in the area of the former Thompson-Cadillac mine. The Thompson-Cadillac mine saw small-scale operation prior to the Second World War, resulting in the production of 21,000 ozs of gold at an average grade of 4.2 g/t Au.
“We are happy to have attained complete ownership of New Alger. Renforth has had a long relationship with this property, successfully putting in place the first resource statement and rediscovering the gold system in the sediments. Management looks forward to, funding permitting, being able to continue to define how much gold is contained in this 1.4-kilometre portion of the Cadillac Break and in the Pontiac sediments to the south with future exploration programs,” states Nicole Brewster, president and chief executive officer of Renforth.
This article http://www.stockhouse.com/Blogs/ViewDetailedPost.aspx?p=117683 provides a great overview of Petro One Energy “TSX.V-POP” including a valuation of the company’s assets.
James Hudson Quote…
“POP is trading at 31% of the most conservative valuation of its cash and assets.
With this in mind, the stock chart over the last year has been technically perfect to the upside. Petro One’s share price has more than doubled, on strong volume against an overall weakening market, over the past year.
On June 6, 2011, Petro One announced it had begun drilling with an aim towards near-term light, sweet crude production. Folks, we are looking at textbook case of an emerging junior Oil producer doing all things right. I expect we will see significant cash flow sometime this year.
There is no question as to what direction Petro One’s share price is headed. It will simply be a case of how much production will come online, how fast, and how long the company will last before it is taken out.”