Other Mining Stocks

[mdmnwonk]

VIZSLA CONTINUES TO EXPAND NAPOLEON; 54 DRILL HOLES AVERAGE 4.0 METRES TRUE WIDTH AT 441 G/T SILVER EQUIV.

Vancouver, British Columbia (April 6, 2021) – Vizsla Silver Corp. (TSX-V: VZLA) (OTCQB: VIZSF) (Frankfurt: 0G3 ) (" Vizsla " or the " Company “) is pleased to provide results from eighteen new holes at the main zone along the Napoleon Vein Corridor (” Napoleon “) at the Panuco silver-gold project (” Panuco " or the " Project ") in Mexico.

Highlights

• 54 drill holes show an average vein width of 4.0 metres true width

• Weighted average grade of 441 g/t silver equivalent (154.9 g/t silver, 2.74 g/t gold, 0.5% lead and 1.3% zinc)

• Mineralization extends over 300 metres in length, 300 metres deep and remains open to the north, south and at depth

• Drillhole NP-21-80 intersected:

• 1,027 g/t silver equivalent (469.5 grams per tonne (“g/t”) silver, 5.84 g/t gold, 0.5 % lead and 1.2 % zinc) over 4.61 metres true width (“mTW”) from 198.8 m including,

• 2,740 g/t silver equivalent (1,320.9 g/t silver, 15.10 g/t gold, 1.3 % lead and 2.6 % zinc) over 1.51 mTW from 202.5 m

[TexHorn]

Anyone follow or have any thoughts on MP Materials? Don’t recall seeing anything here. @cornhuskergold @Hurricane_Rick @MikeGold

Thanks in advance!

[Hurricane_Rick]

New Found Gold (a Novo Resources holding) just keeps on hitting high-grade zones.

Keats Infill Drilling Returns 106.5 g/t Au over 9.15m and 45.6 g/t Au over...

[Hurricane_Rick]

As an FYI, here are the headlines for New Found Gold (NFG.V, NFGFF) since their 200,000 meter drill program at Queensway commenced in October 2020. They keep on defining/expanding a company-maker deposit.

April 7, 2021
KEATS INFILL DRILLING RETURNS 106.5 G/T AU OVER 9.15M AND 45.6 G/T AU OVER 4.05M

March 29, 2021
KEATS INFILL DRILLING RETURNS 37.2 G/T AU OVER 6.45M AND 17.9 G/T AU OVER 8.45M

March 23, 2021
NEW FOUND INTERCEPTS 51.3 G/T AU OVER 3.20M AND 53.3 G/T AU OVER 3.10M IN STEP-OUTS TO DEPTH AT LOTTO

March 18, 2021
NEW FOUND GOLD ANNOUNCES FULLY SUBSCRIBED $15.0 MILLION FLOW THROUGH PRIVATE PLACEMENT WITH ERIC SPROTT AT $5.25/SHARE

March 16, 2021
KEATS STEP-OUT RETURNS 61.8 G/T AU OVER 13.7M, EXTENDS HIGH-GRADE ZONE TO 285M DOWN-PLUNGE

March 10, 2021
NEW FOUND INTERCEPTS 24.0G/T OVER 46.0M AND 27.0G/T OVER 30.1M AT KEATS, HIGH-GRADE GOLD MINERALIZATION DISCOVERED IN FOOTWALL VEINS

March 1, 2021
KEATS STEP-OUT RETURNS 29.1 G/T AU OVER 11.4M, EXTENDS HIGH-GRADE ZONE TO 250M DOWN PLUNGE

February 23, 2021
NEW FOUND INTERCEPTS 224.7 G/T AU OVER 2.45M AT LOTTO

February 11, 2021
NEW FOUND INTERCEPTS 28.4 G/T AU OVER 13.8M AND 25.0 G/T AU OVER 10.3M AT KEATS, PROVIDES EXPLORATION OVERVIEW

January 14, 2021
NEW FOUND INTERCEPTS 18.1 G/T AU OVER 6.5M INCLUDING 38.7 G/T OVER 2.95M IN NEW “SUNDAY ZONE” DISCOVERY IN THE APPLETON FAULT HANGING WALL, 2 KM NORTH OF KEATS ZONE

January 11, 2021
50 METER STEP-OUT HOLE AT KEATS INTERCEPTS BROAD, SHALLOW, HIGH-GRADE INTERVALS: 22.5 G/T AU OVER 10.4M AND 31.4 G/T AU OVER 15.9M

January 6, 2021
NEW FOUND GOLD DOUBLES DRILL PROGRAM TO 200,000 METERS AND INCREASES TO 8 DRILL RIGS AT QUEENSWAY

December 15, 2020
NEW FOUND GOLD INTERCEPTS 45.3 G/T AU OVER 13.1M AND 25.0 G/T AU OVER 16.85M IN STEP-OUT DRILLING AT KEATS ZONE, QUEENSWAY PROJECT, NEWFOUNDLAND

November 16, 2020
NEW FOUND INTERCEPTS 44.5 G/T AU OVER 6.85M IN 60M STEP-OUT AT KEATS ZONE, QUEENSWAY PROJECT, NEWFOUNDLAND

October 27, 2020
NEW FOUND INTERCEPTS 22.3 G/T AU OVER 41.35M AND 31.2 G/T AU OVER 18.85M IN INITIAL STEP-OUT DRILLING AT KEATS ZONE, QUEENSWAY PROJECT, NEWFOUNDLAND

October 2, 2020
NEW FOUND INTERCEPTS 41.2 G/T AU OVER 4.75 M AND 25.4 G/T AU OVER 5.15 M IN NEW HIGH-GRADE DISCOVERY AT THE LOTTO ZONE, LOCATED 2 KM NORTH OF THE HIGH-GRADE KEATS DISCOVERY, QUEENSWAY PROJECT, NEWFOUNDLAND

[mdmnwonk]

The way I read it New Found Gold represents about 11.5% of Novo’s market cap (fully diluted). You would think New Found’s latest drill results would have nudged Novo’s stock price up a little. Maybe we’ll get a delayed reaction tomorrow.

[mdmnwonk]

*VIZSLA HITS 300 METRES TO THE SOUTH OF NAPOLEON, DOUBLING THE LENGTH, WITH 4.46 METRES AT 2,758 G/T AGEQ

Highlights

[MikeGold]

NOVO Resources has been doing poorly lately to say the least.

One reason why can be found here:

https://articles.cruxinvestor.com/update-on-novo-resources?utm_content=162326905

Perhaps the Beatons Creek Project isn’t all the good being somewhat overstated by NOVO. They don’t have any other project lined up that is as far along or perhaps as good which is cautionary. Further, they continue to dilute as evidenced by a today’s announcement about a private placement. CEO.CA | @nasdaq/novo-announces-c22-million-private-placement-led-by

Not sure what to think other than I am mostly sitting on the sidelines more focused on KRR and its upward trajectory.

[easymillion]

@MikeGold

I was in Morocco for a couple of weeks in January and actually met with a silver miner in the Atlas mountains.

Mike,
Did you mention this company in the past? (I have a minuscule position up 400% - so I must have sold it way too early ). Ridiculous silver intercepts!

Update: Aya Gold & Silver Gains 3.7% as Reports Initial Drill Results from Zgounder Silver Mine

BY MT Newswires
— 10:13 AM ET 04/13/2021

10:13 AM EDT, 04/13/2021 (MT Newswires) – Aya Gold & Silver Inc. (MYAGF) reported Tuesday the initial results from its 2021 drill program at the Zgounder silver mine in Morocco.

The company at last look climbed 3.7% in early Tuesday trading.

Highlights included 2,728 g/t silver over 6.0 meters, 4,517 g/t silver over 3.5 meters, 1,635 g/t silver over 7.5 meters and 854 g/t silver over 12 meters.

[MikeGold]

Maybe but really only in the context that I visited quite a bit of the country including the Atlas Mtns and would feel very comfortable about investing there.

[easymillion]

Another early stage silver play that looks promising. I’m looking to add to my small position:

Summa Silver Drills 2,995 g/t Silver Equivalent over 0.8 m at the Hughes Property, Nevada

Mar 31, 2021 | News Releases

High-Grade Silver and Gold Intersections Confirmed in Step-Out Holes

Significant Follow-Up Drill Program to Commence Shortly

Vancouver, March 31, 2021 – Summa Silver Corp. (“Summa” or the “Company”) (TSXV:SSVR) (OTCQB: SSVRF) (Frankfurt:48X) is pleased to announce additional high-grade silver-gold intersections from the Hughes Property in central Nevada. These results build on previously reported intercepts and demonstrate high-grade continuity along numerous high-priority veins. Results from this batch of assays are from three vein sets in the Belmont Mine target.

Key Highlights

Rescue Veins in the Belmont Mine Target Area:

* 2,995 g/t silver equivalent (1,480 g/t Ag and 15.15 g/t Au) over 0.8 m from 378.5 m in **SUM20-19**

* SUM20-19 is a 50 m step-out from SUM20-06 which intersected 3,760 g/t AgEq (1,762 g/t Ag and 19.99 g/t Au) over 2.5 m and a 50 m step-out from SUM20-20** which intersected 6,220 g/t AgEq (2,910 g/t Ag and 33.1 g/t Au) over 0.7 m

• 725 and IOU Veins in the Belmont Mine Target Area:
  • 1,269 g/t silver equivalent (580 g/t Ag and 6.89 g/t Au) over 0.7 m from 156.0 m in SUM20-28 (450 m northwest of the Rescue vein series)
  • 823 g/t silver equivalent (393 g/t Ag and 4.3 g/t Au) over 0.6 m from 395.8 m in SUM20-23 (250 m north of the Rescue vein series)
    Note: AgEq based on 100 (Ag):1 (Au), True widths are unknown.

Further Assays Pending and Drilling Imminent: Assays remain pending for 9 holes from the 2020 drill program with the 2021 drill program set to begin in the first half of April.

Exploration Underway: The Company is currently conducting a pre-drilling exploration program which includes an airborne LiDAR survey and geological mapping. Soil and induced polarization surveys focused on the eastern extension of the Tonopah District are also scheduled for this spring.

Fully Funded for Aggressive Drill Programs: The Company is well funded with approximately $13.2M in working capital.

Galen McNamara, CEO, stated: “Multiple vein systems in the historic Belmont Mine continue to return exceptional grades with continuity now shaping up nicely. With this year’s exploration now beginning, our focus will be on both mineral resource style step-outs, and discovery of additional strong mineralization on the eastern extension of what is one of the most heavily endowed silver districts in the United States.”

(https://summasilver.com/summa-silver-drills-2995-g-t-silver-equivalent-over-0-8-m-at-the-hughes-property-nevada/)

[mdmnwonk]

VIZSLA SILVER ANNOUNCES SPINOUT OF VIZSLA COPPER CORP.

Vancouver, British Columbia (April 20, 2021) – Further to its announcements on January 6, 2021, February 8, 2021 and March 31, 2021, Vizsla Silver Corp. (TSXV: VZLA) (OTCQB: VIZSF) (Frankfurt: 0G3) (“ Vizsla Silver ” or the “ Company ”) is pleased to announce that its Board of Directors has unanimously approved the spinout of its copper assets in British Columbia into Vizsla Copper Corp. (“ Vizsla Copper ” or “ SpinCo ”) through a statutory plan of arrangement (“ Arrangement ”).

https://static1.squarespace.com/static/5e3853a120a02d4977c6db91/t/607eae55aa744840a9985896/1618914902083/Spin+Out+Press+Release+FINAL.pdf

[easymillion]

Surprised no-one has brought up NOVO in a while. I mentioned earlier that I had made NOVO and Karorra two of my most important investments, and they still are. Initially, I had invested equal dollar amounts in each. I have added substantially to Karorra the past few months because KRR is off to a quicker start than NOVO, but I’m in favor of holding core positions at least a year to take advantage of the current 15% tax rate on long-term capital gains. I hope the 15% tax rate is kept on long term capital gains. I believe a 15% favorable rate is a stabilizing force in the market. I’m not looking forward to having to day trade and give much of the profit on my risk taking to the government in taxes if it is changed. I have not sold any NOVO shares and still consider it a high priority with great long-term potential in my core investments, FWIW. The following is a piece written by Bob Moriarity which I think is a worth-while read for those with a position in NOVO, or anyone looking for an entry point in a potential investment in NOVO (NVO:CA, NSRPF). (Note that when Moriarty says “The price of Novo didn’t go down $.42 on April 14th” one has to use the 4.5 multiplier of the RS to translate that to $1.89.)

Novo Stumbles, Market Panics

I have covered the Novo saga for almost a decade now and have even written a book covering the story right up to the first gold pour eight weeks ago. I was part of the story going all the way back to 1977 when I took a Rockwell 685 from Florida to Australia for Lang Hancock, the 2nd richest man in the country. I had with me the son-in-law of Hancock who managed to bore me for 75 hours of flight talking about how the Pilbara had 29% of the world’s iron reserves. The deposits were the richest in the world. The banded iron formations precipitated iron out of salt water about 2.8 billion years ago when single cell creatures began to produce oxygen. Gold does the same thing.

Novo has three primary agendas in the Pilbara basin. The mine and mill at Nullagine using ore from Beatons Creek is the least meaningful. Novo controls 12,000 square km of ground around Karratha they believe prospective for conglomerate gold. It will be fifty to one hundred years before we get a real feel for how much gold there is there. But Novo has bought a mechanical sorter and wants to begin tests with it this quarter.

My favorite of the three projects is Egina and the surrounds. As far as I am concerned, it is the jewelry box. Cheap to process and a lot of near surface gold. I visited the project with Dr. Keith Barron four years ago. Not a lot of people know it but Keith is one of the largest placer operators in the US. He mines sapphires in Montana and his operation is the largest sapphire placer mine in the world. He doesn’t know placer operations from a theoretical basis, he owns a mining operation and knows the costs to a penny. Based on current costs of people and fuel in Australia, Keith told me that Novo can mine gold at Egina for a cash cost of $10 a cubic meter or about $300 per ounce of gold. Novo has done studies showing grades at Egina of over one gram per cubic meter.

For two years there has been a surfeit of news about progress at Egina because of a lack of a heritage agreement from the two native groups that control the area. For the first year it was because those agreements take a lot of time to mull over and for the last year it has been because Covid stopped the two groups from interacting at all. There is absolutely nothing Novo could do to speed things up that they haven’t tried. So the project that will be the highest profit percentage terms in return is stuck at the testing stage until the native groups wake up.

On April 14th Quinton Hennigh announced plans to raise $22 million in a private placement at $2.55 a unit. Novo haters slithered out of their holes in glee and Novo lovers shit their pants at the surprise announcement. Everyone, including Quinton Hennigh, me, and all the shareholders were hoping there would be no particular need to a further dilution to the share structure after the mill went into production two months ago.

From reading the chat boards, clearly few actually understand how difficult a startup operation can be. Posters were literally demanding production figures from the first day. I’ve put half a dozen placer projects into production and until you have done it a few times you cannot imagine the hurdles you have to leap over in a single jump. There were some nice surprises such as 50% of the free gold being captured in the gravity circuit. That means the cyanide vats have more potential for production that means more gold produced. That’s a good thing. But there were glitches that literally no one thought of.

There were local children that like to fish off a bridge that the ore trucks have to drive over coming and going to the mine site. If you want to piss off the entire community, try running over one of their kids by mistake. If you want to piss off the kids, try convincing them they can’t fish off the bridge they have fished off their entire life.

Then they needed to replace part of the ball mill liner. Since that had just been done in advance of startup, it shouldn’t have been required. But it was. That caused a delay in replacing the liner. In hindsight they realized they were being too cautious and the mill needed more material in it to soften the impact of the steel balls. If you run a ball mill with no rock in it, the balls will destroy the liner overnight. By being conservative, they were destroying the equipment.

Then they had to feed lower grade material through the mill because it blocked access to the higher-grade material at the mine site that they really wanted to use in production. These are all things that were driving Quinton and the Novo team nuts.

It didn’t bother me in the slightest. Things are supposed to be screwed up as you go into production on what are essentially a new mill and a new operating crew. If they thought everything was just wonderful, then I would be nervous.

I’m going to share with my readers a piece of sterling advice I have learned over the years.

If you aren’t making mistakes, you aren’t making enough decisions. When humans make decisions, often they err. The key is to not keep making the same mistake again and again. Mistakes are ok. What is not ok is to do the same stupid thing again and again.

Quinton made a decision. I don’t give a rat’s ass if it was the right decision or not, it simply doesn’t make any difference. I hate dilution and he determined he needed to cash the company up for the same reason a dog goes in the road to lick his dick.

Because he can.

Companies don’t go teats up because they run out of ore; they collapse because they lose control of their finances. When Novo was doing normal exploration on the three major projects, they were burning through about $1.5 million a month. Putting the mill into production and paying for the mining has jacked up the burn rate to $12 million a month just for mining and milling.

The QP who did the PFS recommended Novo do 20X20 infill drilling for grade control. As they got into production they realized they were diluting the grade because of a lack of precise grade control. When they talked to the QP he said to tighten the drill spacing a lot. It would be very foolish to ignore his advice.

The primary purpose of the PP is keeping a decent cash balance. The secondary purpose is to comply with wise advice from the QP on the drilling. There is also another issue that should be discussed. Working in WA during their summer/our winter is tough. When WA goes through the cyclone season as it just finished, literally you can’t work at all. Nullagine was flooded well into actual production in February.

If Quinton halts all work at Karratha until Beatons Creek will support their exploration, he could easily lose the entire winter working season. And there is no telling when the natives will come to the table at Egina. I hope that he is thinking of keeping some cash reserve for those all-important projects. Novo has paid for a Steinhart sorter, it would be pretty silly to run out of the cash to test it on the Comet Well ore.

There is another factor in the drop in Novo shares over the past ten days or so. It is typical in the finance business that the minute you go to brokers and start talking about doing a placement, they promptly short the shares. For one thing, it lowers the price of the PP and they can replace the shorted shares in the PP and get zero risk warrants as part of the deal.

[easymillion]

@easymillion

(Note that when Moriarty says “The price of Novo didn’t go down $.42 on April 14th” one has to use the 4.5 multiplier of the RS to translate that to $1.89.)

Clarification on this note - What Bob was actually saying is that there was a $0.42 CAD (not $USD) decline in share price on April 14. Not the 1st time I’ve missed what was being said, but I’m patient with this stock as there is far too much potential in the long-term. The set-back at BC is something I’m comfortable enough waiting to see what happens during WA’s winter months during our summer. I actually added to my position today in NSRPF, and moved a portion of my shares into my ROTH account from my IRA. Not a bad idea if your time horizon is long enough to be sure that your ROTH has been “seasoned” at least 5 years before taking out any withdrawals. This was not a good idea for my MDMN shares when I moved them over many years ago, so be careful before choosing to move a non-profitable speculative equity into a ROTH, IMO. I have quite a few of my Karorra shares parked in my ROTH account as well, but at least it is cash flow positive and growing.

[mdmnwonk]

Since getting great results from the Rod and brecciaboy about Pegaso Nero I thought I’d ask a question on this board that I’ve been wondering about. I’ve been looking for the type and amount of resources for American Sierra but they have no website that I can find so I’m wondering if anyone can enlighten me. I’ve been able to determine that 81% of the stock is VERY tightly held. Is that indicative of the esteem to which the company holds their resources. . . or is it just a coincidence based on the lack of time/promotion Maurizio has been able to put into it ???

[easymillion]

@Hurricane_Rick

New Found Gold (a Novo Resources holding) just keeps on hitting high-grade zones.

You are so right on bringing this one to the attention of the forum, Rick. Not a producer, but very promising drill results keep defining/expanding the deposit. I managed to squeeze a few more shares into my position based primarily on their drilling program and results.

Vancouver, BC, April 20, 2021: New Found Gold Corp. (“ New Found ” or the “ Company ”) (TSXV: NFG, OTC: NFGFF) is pleased to announce assay results from an additional seven holes drilled at the Keats Zone (“ Keats ”). These holes were drilled as part of the Company’s ongoing 200,000m diamond drill program at its 100%-owned Queensway Project (“ Queensway ”), located on the Trans-Canada Highway 15 km west of Gander, Newfoundland.

Highlights

· Highlights include:

• The outstanding interval of 261.3 g/t Au over 7.2m in Hole NFGC-21-137 yields a grade x width of 1,882 mg/t Au which is the highest result to date from the Keats drilling in terms of this metric, exceeding the 1,761 mg/t Au from the 92.7 g/t Au over 19.0m intersected in NFGC-19-01.
• Holes NFGC-21-137 and NFGC-20-57 provide further confirmation of the vertical extent of high-grade mineralization at shallow depths above the interpreted south-plunging dilational zone (Figure 1).
• Holes NFGC-20-60, 103, 106, and 114 continue build definition of high-grade gold mineralization to depth within the host Keats baseline fault zone (Figure 1).
• The Company has decided to increase the drill count at Queensway North from 8 to 10 drills. The 8th and 9th drills are on site and scheduled to start by the end of April, with the 10th drill anticipated to start by mid-May.

(Keats Infill Drilling Returns 261.3 g/t Au over 7.2m, Queensway Program Expanded to 10 Drills - New Found Gold Corp.)

Anyone with a longer time horizon (or a quick flip?) may be interested in taking a look at Portofino Resources (TSX-V: POR | FSE:POTA | OTCQB: PFFOF). This is a very high-risk speculative nano cap company with a market cap of only about $10M. I will definitely have to re-evaluate the potential of this company by the end of the summer. It was added to the OTCQB in February of this year, but has been in existence since 2011. It could eventually develop into what is commonly referred to as a micro-cap (>$50M), but is quite far from that goal. It did a PP of only $140K a few weeks ago and an over subscribed financing of $630.5K last Nov (both at 0.10). I took a small starter position yesterday and today (basically a “watchlist” position), mostly to keep an eye on it, FWIW. Although I expect it to drift lower until mid-late summer, I may not be adding to it unless something really good develops. This company is a real long-shot that is being heavily promoted with frequent PRs. It had recent highs in the mid 0.20s in Feb and may repeat that. I expect there will be future financings to further exploration. Here are the the headlines for the PRs it has so far for this year:

2021

Apr 20, 2021
Portofino Resources Expands Lithium Focus; Acquires Allison Lake North Property, East of Red Lake, Ontario

Apr 9, 2021
Portofino Provides Drilling Update on the Gold Creek Project

Apr 6, 2021
Portofino Reports on Successful Geophysical Survey and Surface Sampling at Its Yergo Lithium Project, Catamarca, Argentina

Mar 30, 2021
Portofino Receives Encouraging Phase 2 SGH Gold-in-Soil Anomalies at the South of Otter, Red Lake Property

Mar 24, 2021
Portofino Closes $140,000 Private Placement

Mar 23, 2021
Portofino Reports Drill Crew Mobilized to Site - Gold Creek Project

Mar 19, 2021
Portofino Announces $140,000 Private Placement

Mar 18, 2021
Portofino Common Shares Now DTC Eligible

Mar 16, 2021
Portofino Receives Drill Permit, Engages Drill Contractor- Gold Creek Project

Feb 17, 2021
Portofino Completes Geophysical Survey - Yergo Lithium Project

Feb 4, 2021
Portofino Receives Approval to Commence Trading on the OTCQB

Feb 4, 2021
Portofino Receives Encouraging Phase 1 SGH Silver-Copper-VMS-in-Soil Anomalies at the South of Otter, Red Lake Property; Completes Phase 2 Program

Feb 2, 2021
Portofino Mobilizes Geophysical Survey Crew To Its Yergo Lithium Project

Jan 19, 2021
Portofino Plans Geophysical Survey on Its Yergo Lithium Project

Jan 13, 2021
Portofino Provides 2020 Summary And Early 2021 Plans

Jan 5, 2021
Portofino Receives Encouraging SGH Gold-In-Soil Anomalies At The South Of Otter, Red Lake Property

Share Structure as at April 1, 2021

· Issued and Outstanding Common Shares - 79,066,243

· Options - 4,233,750

· Warrants - 20,963,219

· FULLY DILUTED - 104,263,212

(https://portofinoresources.com)

[mrbubba]

Yeah I couldn’t help myself, I bought about 6,200 of NFG today - let’s see if it can run from here, seems like they’re coming out with drill results EVERY week.

[easymillion]

Skeena Resources has only been mentioned a couple of times on this forum. I have a smaller starter position than I’d like (I got in late), but will be looking to pick up more if the price drops sufficiently with any future financing. Should be an interesting summer. 25,000 M exploration drilling planned and some infill drilling in progress prior to a PEA later this summer.

Vancouver, BC (August 4, 2020) Skeena Resources Limited (TSX.V: SKE , OTCQX: SKREF ) (“Skeena” or the “Company”) has signed the Definitive Agreement with Barrick Gold Corporation’s wholly-owned subsidiary, Barrick Gold Inc. (“Barrick”), pursuant to which Skeena will acquire 100% of the Eskay Creek gold-silver project (“Eskay Creek” or the “Project”) located in the Golden Triangle of northwest British Columbia, Canada. As a result of this transaction, Barrick will become a significant shareholder in Skeena.

also a recent update:

Skeena released an updated Measured and Indicated open-pit resource of 5.1 million ounces at, 4.2 g/t gold equivalent for Eskay Creek in April 2021.

- After-tax NPV5% of C$638M (US$491M) and 51% IRR at US$1,325/oz Au and US$16/oz Ag

- Pre-production capital expenditures (CAPEX) of C$303M (US$233M)

- After-tax payback period of 1.2 years at US$1,325/oz Au and US$16/oz Ag

“Skeena Resources Limited live webinar, Thu, Apr 29, 11:00 AM EDT”
Thu, Apr 29, 2021 8:00 AM - 9:00 AM PDT

There’s an informative presentation here (get past the 1st minute it or so):

(https://www.youtube.com/watch?v=lb62DOQHXpo)

[Hurricane_Rick]

Novo Provides Update on Production Ramp-Up at Beatons Creek Gold Project

Not for Distribution to United States Newswire Services or for dissemination in the United States

VANCOUVER, British Columbia, April 29, 2021 (GLOBE NEWSWIRE) – Novo Resources Corp. (“ Novo ” or the “ Company ”) (TSX: NVO & NVO.WT; OTCQX: NSRPF) is pleased to provide an update of the ramp-up of operations at the Beatons Creek conglomerate gold project in Western Australia (“ Beatons Creek ”).

Highlights

• Commissioning and ramp up have progressed safely (no lost time injuries recorded to date) and within expectations amid a favourable gold price environment (Australian gold price currently above A$2,275 per oz)
• Since commencement of processing operations on February 3, 2021 and pouring of Novo’s first gold bar on February 16, 2021 , a total of 7,375 fine oz Au and 1,158 fine oz Ag have been sold to date
• Processing facility (the “ Golden Eagle Mill ”) operating at 1.5 Mt per annum throughput, as expected, with demonstrated higher capacity
• Mining and haulage operations are progressing within expectations
• In line with broader industry experience, significant delays have been experienced in third party assay turnaround with only around half of all grade control sample results returned to date. Novo geologists have compensated for these delays by successfully visually identifying mineralisation bands to guide selective mining operations
• Mining and geological processes are continually being refined to optimize mining and processing operations and to minimize mineralization loss and dilution

“Novo is delighted to have assembled a high calibre team in such a short timeframe and in a buoyant commodity market,” commented Rob Humphryson, CEO and a director of Novo. “Considerable progress has been made to date and we continue to generate positive momentum as we ramp up production at Beatons Creek to steady state.”

Details and Outlook

• Since pouring first gold on February 16, 2021, 29 further gold bars have been poured for a total of 7,375 fine troy oz Au, with gold production steadily increasing in line with the Company’s ramp-up schedule.
• Throughput at the Golden Eagle Mill has been steadily increasing to an annualized production rate of approximately 1.5 Mt per annum as mill operating parameters are optimized. Novo plans to further increase throughput at the Golden Eagle Mill, noting that the Golden Eagle Mill has been test run successfully at instantaneous rates up to 2Mt per annum ( Figure 1 ).

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2d432560-124f-44d0-b456-402306f94d28

• Recoveries at the Golden Eagle Mill have varied between 87-98% since start-up. As steady state throughput is expected to be reached over the coming months, recoveries are expected to stabilize in the mid 90% range. The proportion of gold recovered by the gravity circuit is typically above 50%, in line with metallurgical test work for Beatons Creek.
• Scheduling requirements associated with grade control trial areas and the establishment of waste landform locations necessitated commencement of mining in a lower grade area in the distal NW portion of Beatons Creek, with grade scheduled to increase as new areas of the resource are exposed.
• Head grade at the Golden Eagle Mill has ranged from 0.6-3.5 gpt Au since start up, indicative of the nuggety nature of the Beatons Creek mineralization.
• Since start-up, drill and blast techniques have been introduced to allow for effective loading and selective mining. Mining techniques will continue to be refined and adapted in response to the geometry and hardness of the mineralized horizons, to increase productivity and optimize operating costs ( Figure 2 and Figure 3 ).

Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c1fbea12-b8e4-4883-adde-bf6a53a607e8

Figure 3 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e5b1a600-21b5-48f7-9ef1-dc372662a978

• Grade control and resource upgrade reverse circulation drilling at 20 x 20m spacing continues throughout the entire deposit. The initial focus is on mine scheduling priorities, and also to achieve a higher level of confidence in the resource at Beatons Creek. Infill grade control at 10 x 10m spacing will be undertaken in more geologically complex areas where more detail is required.
• Whilst the PhotonAssay technique has proved ideally suited for the Beatons Creek grade control regime, significant delays have been experienced in third party assay turnaround with only around half of all grade control sample results returned to date. Novo geologists have compensated for these delays by continuing to develop visual techniques to guide selective mining operations. An example of the result of detailed bench and face mapping work being undertaken by the Novo team is evident in Figure 4 , which illustrates mark-up of four conglomerate beds in preparation for mining.

Figure 4 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f5d79a3c-79d7-42b6-bdd5-f8c6cd8cb87e

• Novo is pleased to note that Chrysos Corporation will soon be deploying additional PhotonAssay units into Western Australia, increasing the number of available machines (currently three units) to five units before the end of June. Novo expects to leverage this increased capacity to significantly improve assay turnaround times. Novo has utilized PhotonAssay technology extensively throughout its Pilbara projects.
• Novo is currently establishing an internal sample preparation facility on site at the Golden Eagle Mill, producing samples for distribution to the increased capacity of photon assay facilities.

“Our team has rapidly developed visual grade control protocols to guide mining in the absence of full grade control assay results,” commented Quinton Hennigh, Chairman and President of Novo. “We are aggressively tackling the need to speed up assay returns by establishing our own sample preparation facility at site and leveraging the planned ramp up of photon assay capability in Western Australia by Chrysos Corporation. This will be critical as Novo moves to complete a 20 x 20 grade control and resource upgrade drill campaign across Beatons Creek over the coming months. Meanwhile, protocols for mining this unique type of mineralization are rapidly being refined to maximize mining rates and minimize dilution. We see ability to eventually operate the Golden Eagle Mill at a run rate of 1.9-2.0 Mt per annum, well above the anticipated run rate of 1.6 Mt per annum. The team is diligently working towards steady state operations over the coming months.”

Financing Update

On April 14, 2021 , the Company announced a C$22 million brokered private placement (the “ Financing ”), the net proceeds of which will be used, generally, to fund new exploration efforts in the Pilbara region of Western Australia, continue ramping up operations at Beatons Creek, the planned infill drilling campaign and the increased photon assay capacity in Western Australia, and for general corporate working capital purposes. The Company also plans to initiate expansive exploration programs in the East Pilbara region, particularly in the Nullagine area, to continue expanding Beatons Creek’s footprint and identify targets with potential to become near-to-medium term mill feed. The Company also plans to deploy the Steinert KSS 100F LIXT fine mechanical sorting unit to the Pilbara in Q2 2021.

https://www.novoresources.com/news-media/news/display/index.php?content_id=452

[easymillion]

It looks like Novo has under reported to the detriment of it’s PPS and disappointed shareholders for quite a while. In the shadow of its poorly timed $22M brokered private placement it’s management has recognized it’s need to turn things around if Novo is to have success beyond focus on BC. The Beatons Creek gold project success is essential to the overall success of it’s other projects. February’s first gold pour and follow-up this quarter with a reported 7,375 oz of gold production was welcome news yesterday that resulted in a 7.1% price increase in it’s NVO.TO share price. The stock has suffered greatly from it’s lack of progress and delays on it’s other promising projects. The stock appears to be at a bottom with good prospects of returning to better days ahead as seen in yesterdays chart.

Following up today is another short PR. Hopefully this is the start of a renewed PR campaign to bring back the needed return of profitable results.

Not for Distribution to United States Newswire Services or for dissemination in the United States

VANCOUVER, British Columbia, April 30, 2021 (GLOBE NEWSWIRE) – Novo Resources Corp. (“Novo ” or the “ Company ”) (TSX: NVO & NVO.WT; OTCQX: NSRPF) is pleased to announce that it will today file a technical report prepared pursuant to National Instrument 43-101 Standards of Disclosure for Mineral Projects (“ NI 43-101 ”) related to its March 31, 2021 news release announcing the results of a preliminary economic assessment (“ PEA ”) for its Beatons Creek conglomerate gold project, Western Australia. The independent technical report, entitled “Preliminary Economic Assessment on the Beatons Creek Gold Project, Western Australia” (the “ 2021 Technical Report ”), with an effective date of February 5, 2021 and an issue date of April 30, 2021, was prepared for Novo by Jason Froud (BSc Hons, Grad Dip (Fin Mkts), MAIG), Andrew Grubb (BE (Mining), FAusIMM), and Ian Glacken (BSc Hons, MSc (Mining Geology), MSc (Geostatistics) PGCert (comp), DIC, FAusIMM(CP), FAIG, CEng, MIMMM) of Optiro Pty Ltd of Perth, Australia, and William George Gosling (BE (Extractive Metallurgy), FAusIMM) of GR Engineering Services, also of Perth, Australia (collectively, the “ QP’s ”). The QP’s are qualified persons as defined under NI 43-101. The 2021 Technical Report will be available under the Company’s profile on the System for Electronic Document Analysis and Retrieval (“ SEDAR ”) website at www.sedar.com (filing date: April 30, 2021) and on the Company’s website at (www.novoresources.com).

[easymillion]

I’ve mentioned this one before (See my previous post from March 18). Located in Nevada, Blackrock Gold (BRC.V, BKRRF) qualified to move up from the pinks to the OTCQB last August. It also closed a C$10.35 M bought deal public offering on Feb 19, 2021. There was also a recent name change to Blackrock Silver Corporation, although the trading symbol remained the same. A couple of days ago it announced:

Blackrock Silver Corp. upgraded to the OTCQX from the OTCQB® Venture Market, where it is now trading under the symbol “BKRRF.”
(BLACKROCK SILVER UPGRADES TO OTCQX - blackrock silver)

I look forward to great success from this company. It has some very promising property in the Tonopah mining district of Nevada, The chart is poised to go up from here. It’s definitely worth taking a look at, IMO.