I recently attended PDAC in Toronto. It is hard to objectively know whether there was more interest this year in the mining sector, but my visual impression was negative. This fall in attendance has continued over the last several years. I attribute this loss of interest not to the failure of commodity consumption to increase, but to “investment” made on the basis of commodity price speculation and greedy expectation from so-called leverage.
In these two discussions I give my views on the trade-war, gold consumption, the Third World etc.:
Cork Fleck and I talked about two companies today. Renaissance Gold (REN) keeps falling to C$0.17, a price at which I find it a good buy. We also discussed Commander Resources (CMD; C$0.09). Based on the history of the company, while they have created value, I doubt if any money has ever flowed back to the shareholders. The management has changed and I hope any new value-creation profits the wallet of investors. For now, in my view, CMD has fallen more than it should have. Here is a link to a discussion that I had with Cory.
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VANCOUVER, British Columbia, March 21, 2019 (GLOBE NEWSWIRE) — Riverside Resources Inc. (“Riverside” or the “Company”) (RRI.V) (RVSDF) (R99.F) is pleased to report initial results from the Company’s first-phase exploration program at the recently staked Sandy Project (the “Project”) located in northwestern Sonora, Mexico. Riverside continues to leverage its knowledge and experience in NW Mexico to cost-effectively acquire new prospective concessions with strong potential for new discoveries.
Riverside geologists have completed near surface sampling, mapping and geophysics to work up initial target areas at the Project. Riverside’s exploration team is targeting intrusion related and orogenic gold mineralization hosted by altered granite and linked with large structures adjacent to gneiss bedrock.
Riverside’s President and CEO, John-Mark Staude, stated: “The Sandy Project was a project the Company staked over a prospective area known to us from our past work in Sonora. We are pleased with the results from our first pass on the Sandy Project. Gold appears associated with large structures, intrusions and is an exciting potential step in the geologic deposit modeling for Sonora. We plan to follow up these positive results with some mapping and more sampling in 2019.”
The sampling done to date by Riverside has been concentrated on two areas in the center of the project with past historical mine workings (see Figure 1 below) associated with felsic intrusive stock and gneiss. A sample from one of these old workings returned 38.8 g/t Au. Chip channel samples of 1.5 meter in length returned gold results of 9.3 g/t, 4.7 g/t and 3.7 g/t Au. A total of 71 samples have been analyzed so far and further work at Sandy is anticipated to continue to define the structural nature and intrusion association to the gold.
Higher gold grades appear to be associated with intersecting structures within strongly foliated granitic intrusive bedrock. Primary structures strike NW-SE and dip between 40 and 70 degrees to the east in a general structural character with similar orientation and style to some of the shear zone gold mines in the region. Other smaller faults are noted striking roughly north-south and dipping steeply to the east which cut the main shear zone and could possibly hide extensive expansions of the gold system under shallow cover. The cross structures have been intruded by mafic dikes that show pervasive propylitic alteration indicating potential deeper intrusion related gold mineralization. The highest-grade gold material was found associated with a set of variously dipping felsic dikes which could be associated with the intrusive system. Silicification and minor quartz veining is noted associated with the structures and with through-going vein mineralization. The wall rock associated with these structures often shows sericitic and silica alteration.
Of note while visiting the property are the vast placer-gold workings immediately north of the project area. The source of the placer gold has not been determined and may be derived from intrusive bedrock within the Sandy project.
As can be seen in the district summary map (see Figure 1 above), the Riverside rock-chip samples confirm the existence of gold mineralization within the central part of the Company’s concession.
The scientific and technical data contained in this news release pertaining to the Sandy Project was reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
The rock chip samples collected by Riverside’s field crew at the Sandy Project were taken from 4 main showings on the western slopes of the property, with most individual samples consisting of composites of bedrock fragments hammer-chipped from 0.5 and 1.5-metre-long intervals across rock faces showing evidence of alteration and silicification. The highest-grade sample which assayed 38.8 g/t Au was a select grab sample of loose rock found within a small underground working which are believed to date back to the 1960’s. The one grab sample is not representative of the mineralization that was chip-sampled from actual outcrops, however, they do support Riverside’s view that the Sandy property has excellent potential for the discovery of intrusion-related gold and silver mineralization. All of Riverside’s rock samples were analyzed at the Hermosillo and Vancouver laboratories of Bureau Veritas where gold content was determined by fire assaying with atomic adsorption finish and ICP-mass spectrometry was used to analyze for 45 other elements. For quality control purposes, three standard samples were included with the batch of 71 field samples.
About Riverside Resources Inc.:
Riverside is an exploration company driven by value generation and discovery. The company has fewer than 65M shares issued and a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has additional properties available for option, with more information available on the Company’s website at www.rivres.com.
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Vancouver, British Columbia–(Newsfile Corp. – March 21, 2019) – Great Bear Resources (TSXV: GBR) (the “Company” or “Great Bear”), today reported drill results from the Dixie Hinge Zone (“DHZ”) and Dixie Limb Zone (“DL”) at its 100% owned Dixie Project in the Red Lake District of Ontario.
Drilling continues to test along strike and at depth of the DHZ. Some of the DHZ drill holes also cross the adjacent DL at shallow depths and hence Great Bear is able to test both zones with the same drill holes. Hinge Zone drill results are provided in Table 1. Highlights of current drilling include:
Drill hole DHZ-031 intersected four significant gold bearing quartz veins along a 141 metre wide zoneof increased quartz veining and alteration in the DHZ vein system.
Gold-bearing vein intercepts from DHZ-031 include:
a) 7.25 metres of 30.15 g/t gold, which includes 1.50 metres of 130.49 g/t gold,
b) 4.00 metres of 11.72 g/t gold, and
c) 0.50 metres of 60.72 g/t gold.
The high grade intercepts in DHZ-031 occur 20-60 metres west of previously reported drill hole DHZ-023 which included 3.40 metres of 31.60 g/t gold (see news release of February 21, 2019).
26 of 42 drill holes (62%) completed by Great Bear along 240 metres of strike length of the DHZ that has been drilled to date have intersected intervals containing greater than 15 g/t gold.
Results of shallow drilling of the Dixie Limb Zone are also provided in Table 2.Highlights include 39.20 metres of 2.07 g/t gold starting at approximately 25 metres depth, including 9.20 metres of 5.43 g/t gold which includes 0.70 metres of 20.46 g/t gold.
Chris Taylor, President and CEO of Great Bear said, “The Hinge Zone continues to rapidly expand as we keep stepping out along strike and at depth. In our most recent results, drill hole DHZ-031 intersected a gold-bearing quartz vein network consisting of multiple high grade veins within a 141 metre (462 foot) wide drill interval. All current drilling is designed to cross the Hinge Zone at approximately right angles, meaning the interval widths are approximate true widths. The vertical depth of the DHZ-031 intervals ranges from approximately 60 to 190 metres from the surface. The scale and strength of near-surface multi-veined gold mineralization at the Hinge Zone continues to impress.”
An updated long section through the Hinge Zone is provided in Figure 1, showing the location of current reported drill intercepts. Images of high grade gold mineralization from DHZ-031 are shown in Figure 2.
The Company continues to undertake a fully funded, 30,000 metre drill program that is expected to continue through 2019. In order to accelerate the program, a second drill rig was added in early 2019. Approximately 13,000 metres of drilling remain in the current program.
Table 1: Most recent drill results from Hinge Zone drilling.
Vertical Depth (m)
* reported width is determined to be 90-95% of true width based on intersection points of the drill hole intercept with the geological model and oriented drill core data.
Drilling in the Dixie Limb continues to define shallow, wide intervals of gold mineralization, including high grade sub-intervals. The DL drill intervals are presented separately in Table 2. As drill holes like DHZ-026 are collared north of the DL and drill southwards into the DHZ at depth, these holes carry intervals from both zones.
Two exploratory step-out drill holes, DL-038 and DL-039 have encountered a new gold-mineralized silicified sediment zone similar to the DL. These holes were drilled from the DL across the D2 axial planar fault that divides the DL from the DHZ towards the south, into an area east of the DHZ. Results are included along with DL drill results in Table 2. These intercepts may represent a new zone of gold mineralized sediments, or may be an offset continuation of the Dixie Limb Zone in the footwall of the fault. Follow-up drilling is required to characterize this new discovery.
Two exploratory step-out drill holes, DHZ-024 and DHZ-025 were also completed east of the Hinge Zone fold closure (outside of the Hinge Zone) and encountered anomalous gold values of 0.92 metres of 1.46 g/t gold and 0.50 metres of 1.52 g/t gold, respectively, confirming gold is also present in this new area. Follow-up drilling is required to determine if significant gold-bearing quartz veining is also developed in this new area.
Table 2: Current drill results from the Dixie Limb Zone.
Vertical Depth (m)
*All reported widths are drill indicated core length. Insufficient data has been collected at this time to determine true widths. **These drill holes have intersected mineralized sediments in the footwall of the local D2 axial planar fault located south the DL, and east of the DHZ. They may represent a new zone, or offset continuation of the DL.
Figure 1: Composite Long section through the DHZ (view to north) as drilled to-date showing currently reported drill results, and the location of recent step-out drilling. New results are highlighted in yellow.
The Dixie property is located approximately 15 minutes’ drive along Highway 105 from downtown Red Lake, Ontario. The Red Lake mining district has produced over 30,000,000 ounces of gold and is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake Gold Mine of Goldcorp Inc., plus modern infrastructure and a skilled workforce. The Dixie property covers a drill and geophysically defined 10 kilometre gold mineralized structure similar to that hosting other producing gold mines in the district. In addition, Great Bear is also earning a 100% royalty-free interest in the West Madsen, Pakwash, Dedee and Sobel properties, which cover regionally significant gold-controlling structures and prospective geology. All of Great Bear’s Red Lake projects are accessible year-round through existing roads.
Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to SGS Canada Inc. in Red Lake, Ontario, and Activation Laboratories in Ancaster Ontario, both of which are accredited mineral analysis laboratories, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods. Selected samples with visible gold are also analyzed with a standard 1kg metallic screen fire assay. Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program (QAQC). No QAQC issues were noted with the results reported herein.
Mr. R. Bob Singh, P.Geo, Director and VP Exploration, and Ms. Andrea Diakow P.Geo, Exploration Manager for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.
For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.
VANCOUVER, BC / ACCESSWIRE / March 21, 2019 /NV Gold Corporation (TSX.V: NVX; OTC PINK: NVGLF) (“NV Gold” or the “Company“) is pleased to announce that due to strong interest, the Company has increased the previously announced non-brokered private placement (see news release dated March 19th, 2018) up to $1,000,000 (the “Placement”).
The Placement is an offering of up to 8,333,333 units (the “Units”) at CDN$0.12 per Unit. Each Unit consists of one Share and one-half of one Warrant exercisable at CDN$0.20 per share for 30 months from issue of the Units. A finder’s fee is payable on subscriptions by certain of the subscribers of 7% of the cash proceeds paid by such subscribers and warrants to purchase 7% of the number shares issuable to such subscribers in respect of their subscriptions for Units.
Closing of the Placement is conditional on acceptance of the TSX Venture Exchange. The proceeds of the Placement will be used by the Company for the advancement of existing properties, potential acquisition new properties, and for general working capital.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About NV Gold Corporation
NV Gold is a junior exploration company based in Vancouver, British Columbia that is focused on delivering value through mineral discoveries. Leveraging its highly experienced in-house technical knowledge, NV Gold’s geological team intends to utilize its geological databases, which contains a vast treasury of field knowledge spanning decades of research and exploration, combined with a portfolio of mineral properties in Nevada, to prioritize key projects for focused exploration programs.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the proposed raising of CDN$X,XXX,XXX and the proposed uses of such funds and other future plans and objectives of the Company, including exploration plans, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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