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I am always curious about how a junior exploration company comes to take an interest in a particular property. Graham Harris, CEO of Black Mountain Gold (BMG.V) was happy to tell me.
One thing leads to another as the saying goes. Tocvan Ventures (TOC.C), under the leadership of CEO Derek Wood announced that it had committed to acquire an option agreement for the El Picacho Gold Project within the Caborca Orogenic Gold Belt in Sonora, Mexico.
Great article on Ventripoint Diagnostics Ltd. (VPT.V) over at The Deep Dive.
Just over a year ago when I first spoke to Tom Larsen about Eloro’s (ELO.V) Iska Iska project in Bolivia he told me, “We’re looking to find 100 million plus tons.”
Typically, an exploration company will hire an exploration geologist to run a greenfields program on prospective ground. This makes a lot of sense as exploration geologists serve what amounts to an apprenticeship learning how best to evaluate and de-risk a piece of ground. Stratabound Minerals (V.SB) went in another direction: their President and CEO, Kim Tyler has a wealth of experience as an “operating geologist”.
Gran Colombia (T.GCM) published its quarterly and annual update on its gold mining operations in Columbia.
First Mining Gold (T.FF) has just released a Pre-Feasibility Study on its Springpole Lake project in Ontario. The headline numbers tell the story, Pre-Tax NPV5% of US$1.5 billion, Pre-Tax IRR of 36%, Average Annual Gold Production of 335,000 ounces and AISC of US$577/oz in Years 1 through 9. Proven and Probable Reserves of 3.8 Moz Au, 20.5 Moz silver (“Ag”). These are big, profitable, numbers and First Mining Gold is pressing ahead to permitting its Springpole Lake project.
Cartier Resources (V.ECR) has released a third, updated, resource estimate for its Chimo Mine Project: 684,000 indicated and 1,358,000 inferred gold ounces with the potential for more gold ounces in all directions and at depth. This pushes the Chimo Mine project over the 2-million-ounce mark.
When a junior exploration company sets out to explore an area it usually has a particular target but it can also find other prospective ground nearby. That’s what happened to Etruscus Resources (ETR.C) with its Rock and Roll project in BC’s Golden Triangle.