SSR Mining – Some More Insights On The SilverCrest Investment
I have been bringing SSR Mining (TSX & NASDAQ : SSRM) on to the show over the past few months because I think they are a great example of a mid-tier who is generating good cash flow numbers and building cash in the bank. After my last interview I received a number of emails asking for more color on the recent investment in SilverCrest Metals.
In this interview I have David Wiens, Director of Corporate Finance and Brian Martin, Director of Business Development on to discuss this investment. We also use this investment to discuss the trend of larger companies taking equity stakes in exploration companies rather than flat our buying them.
If you have any follow up questions for the guys at SSR please email me at Fleck@kereport.com.
IsoEnergy Update – One Of The Few Uranium Juniors Cashed Up And Exploring
IsoEnergy (TSX.V:ISO & OTCQX:ISENF) is one of the very few uranium focused companies that is cashed up and exploring this year. Craig Parry, President and CEO of IsoEnergy joined me today to outline initial exploration results from the ongoing drill program at the Hurricane target within the Larocque East project. We recap the overall goals of the exploration program and anticipated news flow.
Skeena Resources – Addressing Some Misconceptions On The Recent Eskay Creek Drill Results
Last week Skeena Resources (TSX.V: SKE, OTCQX: SKREF) released some very nice high grade results from surface at the Eskay Creek Project. However the market reaction to these results was muted as the stock did not move.
I reached out to Skeena’s President and CEO Walter Coles for a comment. He addresses an analyst report that had a couple errors in understanding what type of rock the drill holes came from. We also get an update on what the plans are for this year at Eskay.
Maple Gold Mines – Insights on The 3D Model, Upcoming Resource, and Drilling In 2019
Last week Maple Gold Mines released a 3D model of the the Douay Gold Project. This is a key stepping stone for the Company but I thought it needed a little more discussion to understand what it was telling the Company. Matthew Hornor, President and CEO, and Fred Speidel, VP Exploration, joined to me today to share their insights on how the model is helping to define the work Maple Gold will be undertaking this year. The Company understands it’s all about growing and upgrading the resource.
Please email me any other questions you have for the guys over at Maple Gold or for myself – Fleck@kereport.com.
Here is the news release on the 3D model. It is helpful to follow along, especially with “Figure 2”.
Montreal, Quebec–(January 16, 2019) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) has created a new 3D geological and structural model for its Douay gold project, located on the prolific Casa Berardi Deformation Zone near Val d’Or, Quebec. The Douay deposit currently contains 2,759,000 ounces Au in the inferred category and a further 479,000 ounces Au indicated using a 0.45 g/t Au cut-off grade (Micon 2018). The Micon 2018 resource does not include the new drill data from the winter 2018 campaign, and is open along strike and down dip. The new 3D model will improve targeting of additional resources in subsequent drill campaigns and forms the foundation for an updated resource estimate.
New 3D modelbased onhistorical and newexploration
results and re-interpretation of the existing and new mineralised
envelopes, highlights numerous zones of higher-grade mineralisationthroughout the 6km strike length of the Douay deposit (see Figures 1, 2)
The higher-grade zones are variably plunging and structurally-controlled by northwest-southeast striking Douay faults and east-west trending faults of the Casa Berardi Deformation Zone (CBDZ)
The down-plunge continuity of higher-grade zones has to-date been tested only to shallow depth – the average drill-hole depth at Douay is only ~230m vertical – providing excellent potential for resource expansion to depth (Fig. 2)
mineralisation controls and orientations are related to the morphology
of more local structures, syenite intrusions and their contacts
Matthew Hornor, Maple Gold’s President and CEO, commented:“Having
a more thorough set of structural interpretations and a new 3D
geological model establishes a foundation more in line with the
standards of a major gold company and marks an important internal
milestone for our technical team.”
Fred Speidel, VP, Exploration, added: “These new
products have strongly encouraged us to pursue down-plunge extensions
of higher-grade zones that continue below the current average depth of
drilling at Douay. They will also allow us to more accurately target
these higher grade zones in our subsequent drill programs.”
Figure 1: 2D representation of 3D structural
model showing distribution of higher-grade mineralized zones (red),
within lower-grade envelope (yellow), controlled by the two main sets of
structures: the E-W Casa Berardi set (grey) and the NW-SE
Douay set (blue). Note trace of longitudinal sections 100mN and 0mN as
also shown in Fig. 2 below).
Figure 2: NW-SE long sections with drill-hole
traces, looking NNE, with 25m projection corridor either side. Target
areas shown as black ellipses/arrows. Section 100mN shows significant near-surface mineralisation in Porphyry Zone, with mineralisation deepening to the SSW (section 0mN). Section 0mN highlights two separate trends of higher grade mineralisation at Douay West, one of which (black arrow) may provide a link to the Porphyry Zone. Apparent closure of mineralised zones at depth reflects absence of drill data, not termination of mineralisation. 100m grid.
Additional updates pertaining to the new 3D model, pending resource
estimate update and new priority drill targets will be provided shortly.
The scientific and technical data contained in this press release was
reviewed and prepared under the supervision of Fred Speidel, M. Sc, P.
Geo., Vice-President Exploration, of Maple Gold. Mr. Speidel is a
Qualified Person under National Instrument 43-101 Standards of
Disclosure for Mineral Projects. Mr. Speidel has verified the data
related to the exploration information disclosed in this news release
through his direct participation in the work.
Quality Assurance (QA) and Quality Control (QC)
Maple Gold implements strict Quality Assurance (“QA”) and Quality
Control (“QC”) protocols at Douay covering the planning and placing of
drill holes in the field; drilling and retrieving the NQ-sized drill
core; drill-hole surveying; core transport to the Douay Camp; core
logging by qualified personnel; sampling and bagging of core for
analysis; transport of core from site to the analytical laboratory;
sample preparation for assaying; and analysis, recording and final
statistical vetting of results. For a complete description of protocols,
please visit the Company’s QA/QC page on the website at: http://maplegoldmines.com/index.php/en/projects/qa-qc-qp-statement
About Maple Gold
Maple Gold is an advanced gold exploration and development company
focused on defining a district-scale gold project in one of the world’s
premier mining jurisdictions. The Company’s ~389 km² Douay Gold Project
is located along the Casa Berardi Deformation Zone (55 km of strike)
within the prolific Abitibi Greenstone Belt in northern Quebec, Canada.
The Project benefits from excellent infrastructure and has an
established gold resource3 that remains open in multiple directions. For more information please visit www.maplegoldmines.com.
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
Forward Looking Statements:
This news release contains “forward-looking information” and
“forward-looking statements” (collectively referred to as
“forward-looking statements”) within the meaning of applicable Canadian
securities legislation in Canada, including statements about the
prospective mineral potential of the Porphyry Zone, the potential for
significant mineralization from other drilling in the referenced drill
program and the completion of the drill program. Forward-looking
statements are based on assumptions, uncertainties and management’s best
estimate of future events. Actual events or results could differ
materially from the Company’s expectations and projections. Investors
are cautioned that forward-looking statements involve risks and
uncertainties. Accordingly, readers should not place undue reliance on
forward-looking statements. Forward-looking statements include, but are
not limited to, statements regarding timing and completion of the
private placement. When used herein, words such as “anticipate”, “will”,
“intend” and similar expressions are intended to identify
Forward-looking statements are based on certain estimates,
expectations, analysis and opinions that management believed reasonable
at the time they were made or in certain cases, on third party expert
opinions. Such forward-looking statements involve known and unknown
risks, and uncertainties and other factors that may cause our actual
events, results, performance or achievements to be materially different
from any future events, results, performance, or achievements expressed
or implied by such forward-looking statements. For a more detailed
discussion of such risks and other factors that could cause actual
results to differ materially from those expressed or implied by such
forward-looking statements, refer to Maple Gold Mines Ltd.’s filings
with Canadian securities regulators available on www.sedar.com or the Company’s website at www.maplegoldmines.com. The
Company does not intend, and expressly 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
required by law.
Osisko Metals – Insights Into What’s In-store For 2019
Jeff Hussey, President and CEO of Osisko Metals joins me to outline the exploration plans for 2019. The Company completed around 100,000 meters of drilling in 2018 and has similar plans for 2019. With two major zinc camps, Pine Point and Bathurst, Jeff shares how they are looking to increase shareholder value through drilling. As well as some new exploration in Quebec.
Please email me with any additional questions you have regarding Osisko Metals – Fleck@kereport.com.
Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX-V: OM; FRANKFURT: OB5) is happy to announce a summary of 2018 highlights and a 2019 corporate and exploration outlook.
Jeff Hussey, President and CEO, comments: “2018 was a very successful year in which we acquired and advanced projects that have the potential to create shareholder value in a short and opportune time frame — while zinc metal inventories are at critically low levels and with mid-term mine supply forecasted to be less than global demand. The acquisition of the Pine Point Mining Camp (“PPMC”) was completed in February and the Company immediately initiated the largest active drill program in the Northwest Territories, allowing for the rapid definition of a 38 Mt Inferred Mineral Resource Estimate grading 4.58% zinc and 1.85% lead (6.43% Zn+Pb). Osisko Metals is now the only junior in the Americas with a resource of 5.5 billion pounds of zinc and lead that has excellent expansion potential.”
In the Bathurst Mining Camp (“BMC”), we increased our portfolio of projects centered on the Brunswick Belt and acquired the Key Anacon project, which had been privately owned since the 1950’s. Key Anacon has now developed into the most exciting base metal exploration and development project in the BMC following significant exploration success in 2018, and we will continue to build on this momentum in 2019.”
PPMC: Completed 55 kilometres of predominantly resource definition drilling and published a Maiden NI43-101 Mineral Resource Estimate (“MRE”) on December 6th, only 9 months after the acquisition.
A NI43-101 near-surface, pit-constrained Inferred MRE of 38.4 million tonnes grading 4.58% zinc and 1.85% lead (6.43% Zn+Pb) that contains 3.9 billion pounds of zinc and 1.6 billion pounds of lead. (See December 6thpress release or listen to replay of Pine Point MRE conference call, here).
As of December 31st, 2018, 605 drill holes totalling 41,379 metres of in-fill drilling were completed, but not included in the MRE, as these results arrived after the September resource cut-off date. This will convert a significant portion of the Inferred Resources into the Indicated category that can then be used for future economic studies.
De-risking initiatives included metallurgical testing, mine planning, environmental baseline studies, including wildlife and archaeological studies, and ongoing negotiations with First Nations and Métis Nation groups. These initiatives will continue in 2019 and expand to include other areas of interest.
BMC (Key Anacon): Completed 49 kilometres of predominantly resource step-out, and definition drilling. Key Anacon is now the flagship project in the BMC. Future drilling will focus on expanding Key Anacon’s high-grade mineralization at both the Main and Titan Zones as mineralization remains open along strike and at depth. There is also 1.5 kilometres of highly favorable and poorly tested stratigraphy between the Main and Titan Zones.
At the Titan Zone, drilling confirmed continuous zinc and lead-rich mineralization to a vertical depth of 400 metres with a 200 metre strike length. The deposit extends over a strike length of roughly 1.2 kilometres and 1,100 metres depth. (See Key Anacon Titan Zone Longitudinal)
Several massive sulphide intercepts, up to 85m in thickness, were drilled which included 22.2 metres of 6.07% Zn, 2.19% Pb, 0.92% Cu and 48.8 g/t Ag.
Several zinc and lead-rich zones also included significant copper, such as: 21.75 metres of 0.96% Cu, 3.67% Zn, 1.44% Pb, 46.32 g/t Ag; another intersection returned 26.6 metres of 0.93% Cu, 1.79% Zn, 0.88% Pb, 19.08 g/t Ag as well as a third intersection that cut 20.9 metres of 1.84% Cu, 1.92% Zn, 0.65% Pb, 23.73 g/t Ag.
A major high-grade Copper Zone is being outlined immediately adjacent to the north of the zinc+lead Titan Zone. It has a strike length of 1 kilometre and a dip extent of 400 to 800 metres, and offers excellent potential to become a significant copper resource. Highlight intersections in the central area include 3.6% Cu over 6.1 metres and another intersection at 2.71% Cu over 6.0 metres. (See Key Anacon Titan Zone Copper Longitudinal)
Main Zone drilling in 2018 intersected a new zone, located 30 metres below the historical resource boundary that consisted of 8.3 metres of massive sulphides grading 10.47% Zn, 3.47% Pb, and 92.0 g/t Ag. The Main Zone deposit remains open along strike and down dip. (see Key Anacon Main Zone Cross Section). In addition to several new intercepts along strike and at depth, drilling also cut 26 metres (true thickness) of 8.94% Zn, 3.14% Pb, and 98.4 g/t Ag in the Main Zone confirming the extremely high-grade core of the historical resources. This hole, along with two others (results pending), will all be used to validate the historical assays prior to a maiden MRE planned for H1 2019. This deposit has significant exploration upside potential.
To better reflect his involvement in Osisko Metals, Robert Wares was named Executive Chairman.
The management team and Board of Directors was reinforced by adding Anthony Glavac as Chief Financial Officer, Lili Mance as Corporate Secretary and Cathy Singer as an Independent Director.
The Company completed $17 million in financing above market price in less than favorable market conditions.
PPMC: Definition drilling will continue and a separate brownfield exploration program will be initiated following the completion of a new site-wide digital compilation over the central portion of the project.
The Company plans to continue drilling to meet the objective of upgrading the Inferred Mineral Resource to the Indicated category and to follow up on high priority brownfield exploration targets that will be tested following a planned airborne gravity survey. These will complement the new site-wide digital compilation and geological re-interpretation of historical datasets. Incorporation of the 2018 LIDAR topographical high precision survey data will help to further define structural controls associated with the distribution of high-grade mineralization. This was never done in the PPMC that has only been tested to an average depth of 75 metres. Favorable horizons within the flat lying stratigraphy exist to a depth of 300 metres and have been poorly tested. Such potential exists over more than 20 kilometres strike length.
The next Indicated and Inferred MRE is planned for 2019 and the resource base will be used for future economic studies following the brownfield exploration program.
The Company will also continue to work towards acquiring further historical resources in the PPMC.
Key Anacon exploration and definition drilling will help to define high grade mineralization with the objective of upgrading the non-compliant historical resource of 1.87 Mt grading 6.93% Zn, 2.63% Pb, 0.16% Cu and 84g/t Ag, into a NI43-101 MRE Indicated and Inferred MRE slated for release in H1 2019.
The Gilmour South deposit, including 2018 drill results, will be included in the upcoming Key Anacon MRE.
Grassroot exploration will focus on, but will not be limited to, a planned airborne gravity survey area between Key Anacon and Brunswick Belt areas. Re-interpretation of Key Anacon volcanic stratigraphy has outlined a 25-kilometre extension of relatively untested, highly prospective Brunswick Horizon located to the east of the past-producing Brunswick No.12 mine. The Company extensively staked this area in 2018 and now owns 100% of the extension.
The Company has filed applications for a TSX listing in Canada and an OTCQX listing on the US Exchange. Guidance for the completion of these listings is end of Q1 2019. Following successful listings, the Company expects a significant increase in trading liquidity on both exchanges.
The Company raised $10 million dollars for Quebec base metal exploration slated for 2019. Currently established VMS base metal targets are being drill tested in the Lebel-sur-Quevillon area under the joint venture agreement with Osisko Mining.
A larger generative exploration effort in Quebec will follow this year on virgin target areas defined in 2018 based on a new exploration model developed for the Grenville geological province. The Company intends to issue a news release in the coming weeks detailing these plans as work advances and specific properties are acquired.
Mr. Robin Adair, Vice President Exploration of Osisko Metals Incorporated is the Qualified Person responsible for the technical data reported in this news release. He is a Professional Geologist registered in New Brunswick.
About Osisko Metals
Osisko Metals is a Canadian exploration and development company creating value in the base metal space with a focus on zinc mineral assets. The Company controls Canada’s two premier zinc mining camps. The Company’s flagship, the Pine Point Mining Camp (“PPMC”), located in the Northwest Territories, has a near-surface, pit-constrained Inferred Mineral Resource of 38.4 Mt grading 4.58% zinc and 1.85% lead (6.43% Zn+Pb), making it one of the largest undeveloped zinc deposits in Canada. Within the Bathurst Mining Camp (“BMC”), located in northern New Brunswick, the Company is focused on drilling and developing the Key Anacon Project, which has a historical resource of 1.87Mt grading 6.93% Zn and 2.63% Pb (9.56% Zn+Pb) and which previously had only sporadic exploration work since the 1960’s. In 2019, the Company will continue to diligently develop and explore in order to confirm and grow both projects. In Québec, the Company owns 42,000 hectares that cover 12 grass-root zinc targets that will be selectively advanced through exploration.
The above-mentioned historical resources for the Key Anacon Project, obtained from the New Brunswick Ministry of Energy, Mines and Petroleum Mineral Occurrence Database, do not conform to National Instrument 43-101 standards. The Company is reporting the historical estimates for reference purposes only. Neither Osisko Metals nor its consultants have completed sufficient work to verify the historical estimates and a Qualified Person has not done sufficient work to classify the historical estimates as NI 43-101 compliant mineral resource. There is no guarantee that such work will allow conversion of such historical resources. The potential of the Key Anacon Project and the adjacent Osisko Metals claims are considered to be excellent based on the presence of this deposit hosted within the strike length of the favorable Brunswick Horizon, with alteration and folding typically associated in BMC deposits.
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.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the use of proceeds of the Offering; the timing and ability of the Corporation, if at all, to obtain final approval of the Offering from the TSX Venture Exchange; an exemption being available under MI 61-101 and Policy 5.9 of the TSX Venture Exchange from the minority shareholder approval and valuation requirements for each related party transaction; objectives, goals or future plans; statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation’s public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Anaconda Mining – Recapping A Record Year For Production and Ongoing Exploration
Anaconda Mining (TSX:ANX & OTC: ANXGF) put out two news releases last week, outlining record gold production and more drill results from the Goldboro Project. Dustin Angelo, Anaconda’s President and CEO joined me for a general overview of the production numbers and ongoing exploration. There are some important details that the Company has learned about the resource in the Goldboro Project that Dustin outlines. Please send me any questions you have regarding the exploration or production of the Company – Fleck@kereport.com.
Eastmain Resources – Recapping The Percival Discovery and The Plans For 2019
Eastmain Resources President and CEO Claude Lemasson joins me today for a recap of a recent discovery at the Clearwater Property and the two other projects that were worked on last year. We also look ahead to the plans for 2019 and the cash position of the Company.
If you have any follow up questions for Claude regarding Eastmain please email me at Fleck@kereport.com.
After my initial interview with David Wiens, SSR Mining Director of Corporate Finance there were a few questions that came in asking for some more light on potential M&A activity. David shares some insights on what the Company is looking for in terms of projects. We also discuss the cash position of almost $500 million and the balance between using this cash for acquisitions vs. advancing projects in their portfolio.
As always please send me any follow up questions at Fleck@kereport.com.
Goldplay Exploration – Outlining The Upcoming Resource and Addressing Questions On Work Commitments
Over the past couple weeks I received a couple questions asking about the upcoming resource and strategy for Goldplay Exploration (TSX.V:GPLY & OTCQB:GLYXF). I introduced this relatively new Company at the tail end of last year when they were raising money to explore the San Marcial project in Mexico.
Marcio Fonseca, President and CEO joined me today to address the questions. I ask if the resource is still on track for this month as well as the work commitments on the project. This all ties into the overall strategy for this year as the Company moves the project forward and looks to make a new discovery.
Auryn Resources has another busy year ahead of it as the Executive Chairman Ivan Bebek outlines. We discuss plans from Sombrero and Committee Bay as well as the overall gold market environment. Also Ivan outlines the possible budgets for each project.
If you have any follow up questions for Ivan or I please email me at Fleck@kereport.com.