Enforcer Gold samples 510.79 g/t Au at Montalembert
Enforcer Gold samples 510.79 g/t Au at Montalembert
– Momentum Public Relations –
Press Release: March 30, 2017
Enforcer Gold Corp. has released metallic sieve assay results from the October, 2016, channel sampling campaign on the Galena vein and vein No. 2.
The assaying process originally employed and reported in press release dated Jan. 20, 2017, was widely used and an industry standard fire assay technique with atomic absorption finish on a 30-gram sample. Usually, if gold results are greater than one gram per tonne, the laboratory will reanalyze the sample with fire assay and gravimetric finish. Even if this method is good up to 1,000 g/t gold, it does not perform well with the high nugget effect as is often the case at Montalembert. When visible gold is observed, or when high-grade gold is suspected, the metallic sieve method is a preferred assay technique.
Nine samples were selected for reanalysis using metallic sieve techniques. The results are found in the attached table.
SAMPLING REANALYSIS Sample ID Sample type Interval Original assay -- New assay -- (m) gravity finish metallic sieve Au (g/t) Au (g/t) D110069 Channel 1 438.225 510.79 D110059 Channel 1 119.935 118.79 D109952 Channel 1 39.345 40.23 D109955 Channel 1 8.88 11.13 D110103 Channel 1 5.59 108.21 D109580 Channel 1 5.07 9.47 D109891 Channel 1 4.56 4.28 D110102 Channel 1 3.84 6.6 D110122 Channel 1 1.58 1.81
Steve Roebuck, chief executive officer of Enforcer Gold, stated: “We are very encouraged by the results of the samples selected for the metallic sieve analysis technique. Seven of the nine samples increased in grade while two decreased. The most remarkable increase came from sample ID No. D110103, which increased from 5.59 g/t gold to 108.21 g/t gold, or 1,835 per cent. It was very important that we made this discovery now before the summer exploration program commences as we now know that assaying around the high-grade gold Galena vein and vein No. 2 needs to include metallic sieve assaying techniques. It is a more expensive process, but the higher-quality results clearly demonstrate that the additional costs are warranted.”
A description of the typical procedure is as follows: metallic sieve is able to overcome the nugget effect of gold by increasing the subsample size to 1,000 grams and physically collecting the free gold within the system using a 100-mesh sieve. The subsample is pulverized to about 90 per cent minus 100 mesh and subsequently sieved through a 100-mesh (106 micron) screen. The entire plus-100 metallic portion is assayed along with two duplicate subsamples of the minus 100 pulp portion. Results are reported as a weighted average of gold in the entire sample.
About Enforcer Gold Corp.
Enforcer Gold is earning a 100-per-cent interest in the 7,300-square-hectare high-grade Montalembert gold project located west of Chibougamau in Quebec’s prolific Abitibi greenstone belt. The project is very well situated only five kilometres from a paved highway, and hydroelectric power and easy access to skilled labour, fuel, food and accommodation it make exploration costs extremely low.
Two recent channel sample assays from the Galena vein, taken 20 metres apart along strike length, assayed 510.79 g/t Au over one metre and 118.79 g/t Au over one metre. Enforcer Gold has committed over $2.2-million to finance its 2017 exploration program, which includes: data compilation, ground and airborne geophysics, stripping of overburden, mapping, prospecting, channel sampling, and reverse circulation and diamond drilling.
Technical
Activation Laboratories Ltd. of Ancaster, Ont., and Laboratoire Expert Inc. of Rouyn-Noranda, Que., were the labs that performed the metallic sieve analysis.
The technical content of this news release was reviewed, verified and approved by Donald Theberge, PEng, MBA, the company’s qualified person as defined by National Instrument 43-101.
© 2017 Canjex Publishing Ltd. All rights reserved
- Published in Enforcer Gold Corp, Mining, News Home
Enforcer Gold Begins Very High Resolution Areomagnetic Survey at the Montalembert Gold Project
Enforcer Gold Begins Very High Resolution Areomagnetic Survey at the Montalembert Gold Project
– Momentum Public Relations –
Press Release: March 28, 2017
Enforcer Gold Corp. has commenced its very-high-resolution aeromagnetic survey over the entire high-grade Montalembert gold project using Geotech’s HeliGrad-VLF EM triaxial gradiometer system.
Steve Roebuck, Enforcer Gold’s chief executive officer, stated: “The helicopter-borne program has just commenced and, weather permitting, should be completed in about a week. The detailed information will be a major tool used by Enforcer Gold’s exploration team to map out detailed folding, shearing and faulting in this structurally controlled high-grade gold project.”
The historical geophysical surveys conducted at the Montalembert gold project form a patchwork of different techniques done over the years by many different operators at variable line spacings and only in select areas. By choosing Geotech’s HeliGrad system, the company will have a large reliable data set that allows it to see the big-picture geological story, the important structures and select key exploration targets to follow up on the confidence that the geophysics have been done properly right from the start.
About Enforcer Gold Corp.
Enforcer Gold is earning a 100-per-cent stake in its 7,300-square-hectare high-grade Montalembert gold project located 120 kilometres west of Chibougamau in the prolific Abitibi greenstone belt of central Quebec. Recent channel sample assays (see news release dated Jan. 20, 2017) from the Galena vein included 438.23 grams per tonne gold over one metre and 119.94 grams per tonne Au over one metre. A very-well-financed exploration program has commenced and will include: data compilation, ground and airborne geophysics, stripping of overburden, mapping, prospecting, channel sampling, and reverse circulation and diamond drilling.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Enforcer Gold Corp, Mining, News Home
Sage Gold set on consolidation
Sage Gold set on consolidation
– Momentum Public Relations –
Press Release: March 17, 2017
The aggregation of Kirkland Lake Gold (CN:KL) into a far larger beast over the past two years has left the historic Timmins gold camp, Ontario, without a natural consolidator for its multiple small-deposit companies, but it’s a mantle near-production junior Sage Gold (CN:SGX) is happy to assume in the absence of others.
Sage chief executive Nigel Lees told an investor lunch in London this week he did not expect the market to take much notice of the company in its current state, but it would not be in its current state for too much longer.
The first part of the junior’s transformation will be to bring its modest Clavos brownfields, underground project into production.
Clavos has a 316,000 ounce indicated and inferred resource that it plans to mine at a rate of 25,000oz per annum and truck down the road to a mill owned by precious metals producer, Primero Mining (CN:P), which is running severely below capacity.
The life-of-mine arrangement with Primero underpins an initial capital expenditure of just C$8 million for the Clavos start-up, according to a 2013 preliminary economic assessment.
The mine permit was updated in record time – three weeks – which allowed Sage to secure the equity finance to start mining operations.
Much of that money will be spent on dewatering the previously established decline and updating the PEA to a prefeasibility study. Not that Lees considers a PFS necessary for a decision to mine – that has been made – but it provides greater market confidence.
So far, all work is on time and on budget and so Sage will be expecting to be mining by mid-year with the first ore delivered to the mill by end-September.
That will satisfy Lees’ need to see cash flowing from the business. It will also provide the market with confidence in management’s ability to execute on its plans and reassurance Sage is not a company that expects to be perpetually topped up through equity issues.
Though the commencement of mining operations is seen as the first key step in the company’s evolution, initial work has already started on the Clavos growth strategy.
Surface drilling began this quarter as Sage investigates the potential to grow the resource, which it and former owner Kinross Gold (CN:K) believe has every chance of swelling to 1 million ounces.
That is likely to come from three distinct opportunities.
First and most straight forward will be the inclusion of intercepts that meet the cut-off grade (2.75g/t Au) but fell outside a previous mine plan.
Second, and only slightly more complicated (it will require the drill rig), Sage is testing an untouched area between the Main mineralised zone and the established 960 zone.
And finally, requiring more effort still, will be the pursuit of ounces expected to be delineated at depth below the Main zone, where historic holes have returned exceptional hits such as 65.3g/t Au over 4m, including 374.1g/t Au over 0.7m.
But establishing a 1Moz resource is not going to put Sage on the map in a gold bull market, which is exactly what Lees believes we’re experiencing at the moment, albeit the early stages. He said an element of M&A is inevitable to build the “critical mass” needed to attract institutions.
“We’ll be looking to buy similar size projects to Clavos,” he told Mining Journal, adding there were “five or six” such projects in public and private vehicles in the immediate Timmins vicinity being evaluated.
Asked whether he expected stiff competition for these assets given his assessment of the market as one in a burgeoning bull run, Lees was relaxed. He said Sage was viewed as the district’s natural consolidator, having established itself with the locally “unique” standing as a fully-permitted, fully-financed company.
He said at one point Kirkland Lake may have bought these projects but with that miner having built itself into a position where it is a circa C$2 billion market capitalisation, international producer, few others are left with an appetite for district consolidation at this level.
Meanwhile, playing a supporting role in the Sage development story, is a polymetallic volcanogenic massive sulphide property, which is also in an established mineralised district in Ontario.
The Onaman property is being drilled in tandem with Clavos and is focused on the Lynx copper-gold deposit, though historic exploration results indicate an economic discovery could also include zinc, lead and silver, too. An inferred resource at Lynx was estimated at 1.94 million tonnes grading 1.44{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 39.6g/t Ag and 0.58g/t Au.
However, unless Lynx turns out to be a gold-silver project with base metal credits, it is difficult to see it remaining part of the Sage stable. More likely, exploration success could provide Lees with an opportunity to sell the project into what appears to be a parallel, early-stage bull run in both the copper and zinc markets.
A sale at Lynx would then combine with cash flow from Clavos to build the arsenal for Sage’s consolidation bid in Timmins.
Natan Resources Ltd Announces Increase of Brokered Private Placement to 4Million
Natan Resources Ltd Announces Increase of Brokered Private Placement to 4Million
– Momentum Public Relations –
Press Release: December 07, 2016
Mr. Steve Roebuck reports
In consultation with First Republic Capital Corp., lead agent to the financing, Natan Resources Ltd. has expanded its brokered private placement as previously announced on Nov. 18, 2016. Pursuant to the offering, the company now intends to issue: 10 million subscription receipts, at a price of 20 cents per subscription receipt, for total gross proceeds of $2-million; and eight million flow-through shares, at a price of 25 cents per flow-through share, for total gross proceeds of $2-million.
Each subscription receipt is automatically exchangeable into units of the company, on the basis of one unit for each subscription receipt, upon the occurrence of certain events, including without limitation, the company having received all approvals of the TSX Venture Exchange to acquire the Montalembert property from Globex Mining Enterprises Inc.
Each unit will consist of one common share and one-half of one common share purchase warrant, with each warrant being exercisable to acquire one common share of the company at a price of 30 cents for a period of 24 months following the closing date of the offering.
In connection with the offering, the agent will be entitled to a corporate finance fee in an amount equal to 2 per cent of subscription receipts and flow-through shares sold and a sales commission of 7 per cent of the aggregate gross proceeds of the subscription receipts and flow-through shares sold. Additionally, the company will issue to the agent corporate finance options entitling the agent to purchase a number of common shares equal to 2 per cent of the aggregate number of subscription receipts and flow-through shares sold and selling compensation warrants entitling the agent to purchase a number of common shares equal to 7 per cent of the aggregate number of subscription receipts and flow-through shares sold, at an exercise price equal to the offering price for 24 months following the date of closing the offering.
Completion of the offering is subject to receipt of TSX Venture Exchange approval and other requisite approvals. All of the securities issuable in connection with the offering will be subject to a hold period expiring four months and one day after date of issuance.
The proceeds from the sale of flow-through units will be used for Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)) and will be renounced for the current taxation year.
- Published in Enforcer Gold Corp, Mining, News Home
Gold Bull McEwen Sees Prices as High as $1,900 by End of Year
Gold Bull McEwen Sees Prices as High as $1,900 by End of Year
Frik Els – Bloomberg
http://www.bloomberg.com/news/articles/2016-09-20/gold-bull-mcewen-sees-prices-as-high-as-1-900-by-end-of-year
Robert McEwen, one of the gold’s industry’s most unabashed bulls, is predicting prices could surge as much as 44 percent by the end of the year as confidence in the economy buckles.
The metal could trade in a range of $1,700 an ounce to $1,900 by the end of 2016 as uncertainty builds around the stability of global currencies and sovereign debt, said McEwen, who’s so enamored by bullion that he’s founded two producers: McEwen Mining Inc. and Goldcorp Inc. Record-low global interest rates will cause a “huge amount of anxiety” for investors, who will turn to gold as a store of value and an alternative asset, he said.
Gold “is a currency that doesn’t have a liability attached to it,” McEwen said Tuesday in an interview at a gold conference in Colorado Springs. “A store of value that has gone for millennia. And the big argument against gold used to be it costs you money to store it. Right now, it’s costing you money to store your cash.”
Bullion’s 2016 rally comes after three straight annual losses. Prices have slumped 31 percent since reaching an all-time high of $1,923.70 in 2011.
McEwen is betting big on gold. As the chief executive officer of his eponymous company, he’s paid $1 a year and doesn’t receive bonuses, wagering that his share holdings will reap him ample rewards. He’s doing this at a time when many gold executives have expressed caution over the metal’s recent rebound as the wounds still feel fresh from the bear market that started in 2013.
This isn’t the first time McEwen, a 66-year-old former investment banker, has defied his own industry. In 2000, he launched an audacious experiment when he was at Vancouver-based Goldcorp. Offering $575,000 in awards, he threw open to the public more than five decades of proprietary data on the company’s under-performing Red Lake mine in Ontario and challenged geologists to locate the next 6 million ounces of gold.
Red Lake ended up becoming one of Goldcorp’s richest gold mines, producing more than $3 billion worth of the metal, he has said.
Prediction Redux
This also isn’t the first time that McEwen, who expects bullion could reach $5,000 in four years, has made bold predictions for prices. He gave the same outlook in 2009 and 2011 — the latter forecast came less than five months before gold peaked and then plunged as much as 46 percent to a five-year low reached in December 2015.
This time, McEwen expects a number of catalysts — from the U.S. election to instability at banks — could make his prediction come to fruition.
“You have many more people involved in the market than you ever have before — crowd psychology is there,” he said. “Reasons for anxiety are multiple than what we’ve had in the past and there will be a triggering event.”
As for the elections, McEwen said that no matter which candidate wins over the U.S. populace, it will be positive for prices. Voters take to the polls in November, when Donald Trump, the Republican presidential nominee, will go up against Democrat Hillary Clinton.
“Hillary has got a very accommodative platform,” McEwen said. “She’s made promises to every group you can imagine in the United States to give them money. Trump is less expansionary, but he’s unnerved a lot of people with his statements, so they don’t really look at this policies, they look at his rhetoric.”
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Equitas Resources Corp. (EQT.V) reports on positive metallurgical testing from the Baldo zone at its Cajueiro gold project
Equitas Resources Corp. (EQT.V) reports on positive metallurgical testing from the Baldo zone at its Cajueiro gold project
– Momentum Public Relations –
Press Release: August 18, 2016
Equitas Resources Corp. has released positive metallurgical test results from the Baldo zone of its 100-per-cent-owned Cajueiro gold project in central Brazil.
Major highlights include:
Results indicate gold recoveries of 93.7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} to 96.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} are possible using conventional Carbon-In-Leach (“CIL”) technology for saprolite oxide mineralization at Baldo, in contrast to the lower than expected recoveries from gravity methods. Decision to fast track straight to the CIL process, which shows higher recovery levels than initially planned for. An engineering firm with extensive experience of gold processing in Brazil is being engaged to complete detailed analysis and design of a planned 250-400 tonnes per day (“tpd”) CIL test plant. Extraction permits are in place for 50,000 tonnes per annum (“tpa”) of material from each of the Baldo and Crente bulk sampling licenses (in Portuguese – “GUIA” or Guia de Utilizacion).
Metallurgical Tests
A 118 kg composite sample of gold-mineralized saprolite identified by the recently reported trench assays was sent to Testwork Desenvolvimento de Processo Ltda (“Testwork”) in Nova Lima, Minas Gerais State, Brazil for bench-scale metallurgical testing, including comminution, gravity separation and cyanide leach via bottle roll tests. The Testwork report indicates recoveries of up to 96.2{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} were possible using conventional cyanidation methods. Gravity concentration tests indicated only very poor recoveries are possible with this method, up to a maximum of 22.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}. The tests highlighted the presence of fine gold and the importance of grind size and cyanide leach residence time in the gold recovery process.
Test Direct Leaching Sample Type AF Head AF Head Sample Number LT1 LT2 P80 Feed Size 106microm 75microm Au Head avg. Assay g/t 5.19 5.19 Au Head Calculated g/t 5.42 5.27 NaCN Initial g/t 1000 1000 NaCN Consumed g/t 179 375 Leach Time (Hours) Tails g/t Au Recovery{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Tails g/t Au Recovery {92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} 2 53.8 48.1 4 71.4 70.5 8 82.9 84.7 24 0.42 93.7 0.28 96.2
Testwork Technical Director, metallurgist Mr. Walter Moura, M.Sc., AusIMM, concludes the following:
The mineralised material is “free milling”, that is, the gold is liberated and accessible for cyanide leaching without requiring specific pre-treatment The gold is generally fine, with best leaching results for a P80 grind size of 75mum. Ferrocyanide compounds were not formed during leaching, indicating that the mineralisation does not contain cyanide-consuming minerals and that pre-treatment with lime is not likely to be required. The test results support a direct cyanidation approach to gold recovery
Next Steps
It is now clear to the Company that the CIL process is the most effective choice (as regards recoverability and economics) for beneficiation of the mineralized saprolite oxide at Cajueiro. We have decided accordingly to fast-track straight to the CIL plant as a first phase and not develop the initial gravity plant. This CIL plant will then be rapidly expanded following the first development as the current resource base continues to be evaluated and expanded. An engineering firm is being engaged to complete detailed analysis and design of a 250-400 tpd capacity CIL test plant. Site design work has been initiated including a topographic survey. Amendment to the environmental permits will be sought as soon as the plant and mine design work is concluded. This is expected to be a fairly rapid process. Build process should start in Q4 2016 and take approximately 6 months to completion.
Baldo and Crente Saprolite Inferred Resources
The Baldo and Crente GUIA’s allow for extraction in total of up to 100,000 tpa of material for bulk sampling purposes. If fully utilized this would result in excess of 12,000oz per annum gold recovered through a typical CIL plant, given recovery levels indicated by the metallurgical testing. Current Inferred Resources (saprolite oxide) for Baldo are 309,000 tonnes @ 3.029 g/t Au, and Inferred Resources (saprolite oxide) at Crente amount to 381,000 tonnes @ 1.482 g/t Au (Gustavson Associates, 2016).
Commenting on the results of the metallurgical testing, President and CEO Chris Harris stated “I am highly encouraged by Testwork’s positive analysis of the cyanide leach testing, signalling that high gold recoveries can be obtained with limited grinding, rapid leach times and low reagent consumptions. This is strongly supportive of our planned plant development. We are engaging Testwork to provide design and engineering services to finalise design and support implementation of a CIL test plant to treat up to 100,000 tpa of bulk sample material from two licences already permitted. Construction of this facility is anticipated to commence in Q4 2016”.
To view the graphic in its original size, please click here
NI 43-101 Disclosure
Everett Makela, P. Geo., VP Exploration for Equitas Resources Corp., a Qualified Person as defined by National Instrument 43-101, has reviewed and approves the technical information in this news release.
For more information on Equitas Resources Corp., please contact Sean Kingsley, Corporate Communications at 604-681-1568 or skingsley@equitasresources.com.
- Published in Equitas Resources, Mining, News Home
Canada Strategic Metals (CJC.V) Starts Summer Exploration Program at Sakami Gold Project
Canada Strategic Metals (CJC.V) Starts Summer Exploration Program at Sakami Gold Project
– Momentum Public Relations –
Press Release: June 28, 2016
Canada Strategic Metals Inc. (“Canada Strategic Metals” or “the Company”) (TSX VENTURE:CJC)(FRANFURT:YXEN)(OTCBB:CJCFF) and Matamec Explorations Inc. (TSX VENTURE:MAT)(OTCQX:MHREF) are pleased to announce the beginning of the summer exploration program on Sakami Gold project.
Canada Strategic plans to conduct an important program of exploration between June 15th to August 15th, 2016. The program will includes magnetic-electromagnetic ground survey on La Pointe, JR West and Iles area, extensive prospection and stripping program on the Peninsula, JR and Iles area to test by sampling and tried to explain the anomalies identified by geochemistry and geophysics complete in 2014-2015 (see map below). Also, a ± 2000 meters drilling program is plan on the La Pointe area to extend the zone 25 to the North-west and to the south-east. (a map of localisation of plan drill hole is available at http://media3.marketwire.com/docs/strat_1_b.jpg).
The drilling program is aimed at increasing the size of the main gold zone (Zone 25) to the west-northwest, the South-east, as well as its extension at depth. Zone 25 is in the La Pointe sector of the Sakami property. Also, a lithological exploration hole is plan in the south portion of La Pointe. A surface map showing drill holes locations is available at http://media3.marketwire.com/docs/strat_2.jpg.
“We are very excited by this important exploration program that will include new drilling on the Sakami project during the month of July” said Jean-Sebastien Lavallée, President and Chief Executive Officer of Canada Strategic Metals. “The latest intersection of more than 45 meters containing significant gold grade was very encouraging and drilling in the extension of these zone can reveal significant results, including high grade as we can observe in Hole PT-15-87.”
Table of mineralized intersections from 2013-2015 drill holes
Hole # | From (m) | To (m) | Length* (m) | Au (g/t) |
PT-13-65 | 112.50 | 138.00 | 25.50 | 3.03 |
Including | 126.00 | 138.00 | 12.00 | 4.00 |
PT-13-67 | 126.90 | 154.85 | 27.95 | 3.78 |
Including | 132.25 | 154.85 | 22.60 | 4.01 |
Including | 138.00 | 145.00 | 7.00 | 7.21 |
PT-13-68 | 200.50 | 221.00 | 20.50 | 2.77 |
Including | 201.65 | 215.00 | 13.35 | 3.23 |
Including | 201.65 | 205.00 | 3.35 | 4.71 |
278.25 | 281.10 | 2.85 | 2.82 | |
294.00 | 297.00 | 3.00 | 1.70 | |
PT-13-71 | 49.10 | 51.65 | 2.55 | 2.06 |
102.00 | 121.50 | 19.50 | 2.97 | |
Including | 107.40 | 121.50 | 14.10 | 3.78 |
Including | 112.00 | 121.50 | 9.50 | 3.95 |
PT-13-72 | 112.50 | 130.40 | 17.90 | 2.24 |
Including | 112.50 | 119.00 | 6.50 | 3.65 |
PT-14-74 | 237.65 | 264.00 | 26.35 | 2.30 |
Including | 243.70 | 252.50 | 8.80 | 3.80 |
Including | 247.70 | 252.50 | 4.80 | 5.18 |
PT-14-79 | 188.00 | 236.20 | 48.20 | 2.51 |
Including | 188.00 | 200.00 | 12.00 | 6.93 |
Including | 190.00 | 196.00 | 6.00 | 11.35 |
Including | 202.50 | 207.00 | 4.50 | 1.33 |
Including | 226.50 | 234.00 | 7.50 | 3.06 |
PT-14-82 | 231.45 | 271,70 | 40.25 | 1.43 |
Including | 231.45 | 235.50 | 4.05 | 5.12 |
Including | 231.45 | 240.00 | 8.55 | 3.58 |
Including | 256.85 | 259.00 | 2.15 | 3.83 |
Including | 267.50 | 271.70 | 4.20 | 2.38 |
PT-14-83 | 240.00 | 295.50 | 55.50 | 1.06 |
Including | 240.00 | 252.00 | 12.00 | 3.54 |
PT-15-85 | 148.50 | 194.00 | 45.50 | 1.47 |
Including | 148.50 | 156.00 | 7.50 | 3.84 |
Including | 183.00 | 194.00 | 11.00 | 1.74 |
PT-15-87 | 219.40 | 229.00 | 9.60 | 6.86 |
Including | 220.50 | 227.00 | 6.50 | 9.9 |
* Core length; the Company estimates the true width of the mineralized zone at 70 to 90{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the core length.
The 2016 summer program is managed by Consul-Teck Exploration of Val-d’Or, Quebec who designed the drilling campaign, with the help of Guy Desharnais of SGS company.
Consul-Teck Exploration implemented QA/QC procedures to ensure best practices in sampling and analysis of the core samples. The drill core was logged and then split, with one-half sent for assay and the other retained in the core box as a witness sample. Duplicates, standards and blanks were inserted regularly into the sample stream.
The samples were delivered, in secure tagged bags, directly to the analytical facility for analysis; in this case ALS Minerals laboratory facility in Val-d’Or (Quebec). The samples are weighed and identified prior to sample preparation. All samples are analyzed by fire assay with AA finish on a 30g sample (0.005-10 ppm Au), with a gravimetric finish for assays over 10 ppm Au.
Jean-Sebastien Lavallée (OGQ #773), geologist, shareholder and President and Chief Executive Officer of the Company and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.
Grant of options
The Company also announces that it has granted to Relations Publiques Paradox 450,000 stock options. The options will be exercisable for a period of two years, at a price of $0.10 per share. The Company will also extend the expiry date of 850,000 stock options issued in July 2014 for a period of two years.
These options will vest over a 12-month period at a rate of 25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} per quarter. The options are granted in accordance with the Policy 4.4 of the TSX Venture Exchange and the terms and conditions of the Company’s Stock Option Plan.
The above-mentioned are subject to the approval of the TSX Venture Exchange.
About Canada Strategic Metals
Canada Strategic Metals is an emerging company focused on the exploration and development of a number of projects covering over 22,584 hectares in Quebec. With broad management experience in green technology and junior resource exploration and development, Canada Strategic Metals is well positioned to aggressively advance this promising property portfolio for its shareholders.
For more information on the Company, please visit www.csmetals.ca.
- Published in Canadian Strategic CJC, Mining, News Home, Uncategorized
Gold: Not a Flash in the Pan
Gold Stocks: Not just a Flash in the Pan
– Momentum Public Relations –
Why should investors consider investing in gold mining stocks? The answer is simple. Quality business ventures are always investment worthy. The challenge is that investors have to examine the fundamentals of each gold mining company and not get caught up in the hype.
Investment in gold mining companies tends to gather momentum as the price of gold bullion rises. The excitement of a rising commodity can replace the discipline of evaluating investments. When bullion prices are high almost any mining company that can extract a few ounces of gold will make a bit of money. However, when prices fall, there is a reality check and investors often rush to sell all gold stocks. When they do, there is little distinction between marginal plays in exploratory companies with “potential” and producers with multiple locations that are truly well run gold mining concerns.
Everyone can claim to have an opinion, but nobody can predict the future. Many analysts argue that if you decide that a security is not a BUY, then it must be a SELL. There is, of course, a gap between these two conditions. Some call it HOLD. This may be one of those times for some investors to sit tight and HOLD their positions in gold mining stocks. Others may wish to BUY more. However, it may be a splendid time for those who are thinking about investment options to get into the market and BUY gold mining stocks.
There are lots of charts and graphs that can be accessed on the internet that claim to evaluate investment trends in gold. Charts can be quite confusing at times and if you look at more than one chart, confusion doubles or triples. So investors may want to avoid complex analysis and predictive indices that are hard to follow.
Investors can pay attention to three fundamental metrics. First, it is important to calculate the fully loaded cost of production per ounce of gold. A lower cost of production means that even if the commodity price for gold drops the operation can still be profitable.
Second, using spot gold pricing and the current published evaluation of a company’s proven reserves, investors should calculate the NAV ratio (net asset value over share price). This avoids the trap of exclusively evaluating a company’s income statement. Instead, the NAV ratio looks at the value of the assets it holds in relation to the share value at a moment in time.
Third, investors should examine the current ratio of price to cash flow and compare this to the company’s peer group. If the stock price for two companies is $20 per share and one company has a cash flow of $5 per share (20/5=4) and the other company has a cash flow of $10 per share (20/10=2). Using this metric, the company with the lower ratio, (P/CF=2) represents a better value.
The fact is that many Canadian gold producers are fundamentally sound investments and have significant upside potential at current gold bullion prices. Many companies are low to medium cost operators, and many have diverse operations in different areas. Yamana, B2Gold, Alamos, and Torex are examples of well capitalized gold producers that are trading well below their 52-week highs.
If investors are looking to make money in the short term, they should consider the typical seasonality of gold bullion pricing. For example, it has a tendency to rise in conjunction with India’s festival season when gifts of gold are exchanged. If gold prices rise in September, and this has happened in the past, it may well elevate the prices of Canadian gold mining stocks.
For the longer term investor, gold mining stocks are reliable. Yes, there have been bubbles and corrections, but gold is here to stay. The product may shine but gold mining stocks are no flash in the pan!