B2Gold exercises option on Aurion’s Finland project

Aurion Resources Ltd. [AU-TSXV; AIRRF-OTC] on Thursday August 22 reported the discovery of multiple new gold zones over a distance of greater than 5.0 kilometres at its 100%-owned Launi East Project in northern Finland.

The company said these gold zones are located within a north-south distance of 5.5 kilometres within a 1.0-kilometre wide corridor where there is no documented history of mineral exploration.

The announcement came less than 24 hours after Aurion said B2Gold Corp. [BTO-TSX; BTG-NYSE American; B2G-Namibia] has exercised an option to acquire a 51% interest in a 25,000-hectare project area in Finland that includes Aurion’s Kutuvuoma and Ahvenjarvi gold projects.

Since the inception of the agreement, dated January 13, 2016, B2Gold spent over $5 million on exploration, paid Aurion $50,000 in cash and issued 550,000 B2Gold shares over a 4-year period.

B2Gold has an option to acquire an additional 19% interest by spending a further $10 million over two years, and if exercised, an additional 5% interest by completing a feasibility study, for a total of 75%.

Aurion shares responded by jumping to a high of $1.99 on Thursday before slipping back to $1.88 for a gain of 5.03% or $0.09. The shares are currently trading in a 52-week range of 75 cents and $2.35.

Aurion is focused on gold exploration in the Central Lapland Greenstone Belt (CLGB) of northern Finland, where its land holdings cover 70,000 hectares. Aurion’s initial acquisition was the Kutuvuoma and Silasselka projects from Dragon Mining Oy in May, 2014. It has subsequently acquired additional mineral tenements throughout the CLGB.

Aurion recently said reconnaissance prospecting on the 4,250-hectare Launi East Project resulted in the discovery of several zones of gold mineralization comprising angular quartz boulders and outcrop over an area of approximately 2.0 kilometres. In a February 12, 2019 press release, the company said a total of 399 rock samples assayed from nil to 379.0 g/t gold and averaged 2.47 g/t gold.

The Launi East property lies approximately 8.0 to 10 kilometres south of Aurion’s 100%-owned Risti Project, where the company recently intersected a wide zone of gold mineralization at the Aamurusko Northwest prospect, which is located on Risti.

The Risti Project, which covers approximately 14,000 hectares, is located to the southeast and is contiguous with Aurion’s Kutuvuoma gold project, which in turn is located 35 kilometres southeast of Agnico-Eagle Mines Ltd.’s [AEM-TSX, NYSE] Kittila gold deposit.

Kutuvuoma hosts a high-grade, shear zone-hosted gold deposit that was discovered in the mid-1990s by Outokumpu Oy, while that company was exploring for base metals.

Aurion said the geological setting of the Risti Project has many similarities to prolific gold-rich orogenic gold belts globally, including the Timmins camp of the Abitibi province of Northern Ontario.

Meanwhile, on Thursday, Aurion said highlights from exploration at Launi East include assays as high as 313 g/t gold from 248 rock sample assays received to date. The average was 18.9 g/t.

Other highlights include the discovery of multiple new mineralized zones over a 1.0 kilometre by 5.5- kilometre area, with 10 new visible gold occurrences. Assays from 650 rock samples are still pending.

The company said sampling to date is preliminary in nature and consists primarily of grab samples of sub-outcrop, outcrop and quartz boulders in glacial till. Insufficient work has been carried out to date in order to determine the source of many of the mineralized borders.

Still, Aurion President and CEO Mike Basha remains upbeat about recent results.

“The discovery of extensive new gold mineralization in another project area with no history of mineral exploration again demonstrates how underexplored the Central Lapland Greenstone Belt and Sirkka Shear Zone are,” said Basha.

“Moreover, the high rate and number of surface discoveries we are making at both Launi and Risti suggests large scale hydrothermal systems at play, demonstrating the huge unrealized potential of the CLGB,” he said.

Two years ago, Kinross Gold Corp. [K-TSX; KGC-NYSE] participated in a private placement of 6.85 million Aurion shares, priced at $2.32 per share. The private placement raised $15.9 million, leaving Kinross with a 9.98% stake in Aurion.

At the time, Aurion said this significant investment by Kinross validated the junior’s exploration model in the Central Lapland Greenstone Belt, and provided the necessary capital to rapidly advance Aurion’s exploration plans, with the primary focus being on the Aamurusko prospect.

White Gold turns heads as exploration steps up a gear

Slowly but surely TSXV-listed White Gold Corp [TSXV: WGO] is coming into its own. About half way into its 2019 drilling programme it looks as if the debt-free Canadian company backed by Kinross Gold (19% equity stake) and Agnico Eagle (19%) could make this a transformative year.

New discoveries have rolled thick and fast both this year and last, paving the way, hopefully, for another significant uptick in White Gold’s resource tally.

In a recent company presentation, the company pointed to the strong take-out valuations on a per-ounce basis in the district with Kaminak going for roughly $175/oz when snapped up by Goldcorp in 2016.

The company’s substantive land package is in Yukon’s prolific White Gold District, the scene of the original Klondike Gold Rush. Today the company owns more than 40% of the claims in the region where both Newmont Goldcorp’s Coffee deposit and Western Copper & Gold’s Casino deposit are located.

More data on the results of this year’s fully funded C$13m drilling programme is expected within weeks, but already White Gold’s story is taking shape, with strong drilling results received since April, following four new gold discoveries in 2018 (Vertigo, GS West, Ryan’s Surprise and Betty Ford).

Currently, the company, is undertaking 17,000m of diamond drilling and 7,500m of reverse circulation (RC) drilling across a wide area.

Initial results were promising. At its flagship Golden Saddle deposit (White Gold property), the results “were among the best to date”, and at Vertigo (JP Ross property) at least six high grade mineralized structures have been discovered.

Highlighted intervals at Golden Saddle include 3.59g/t gold over 68m from 73m depth, including 8.11g/t over 13.6m from 77m depth, and 2.31g/t over 10.56m at 179m depth. At Vertigo intervals included 0.42m of 141g/t within a broader envelope of mineralization that averaged 11.64g/t over 5.34m from 3m depth, and 18.46g/t over 2.48m from 92m depth.

In a nutshell, the latest discoveries at Golden Saddle, 95km south of Dawson City, could significantly expand the high-grade mineralization within and beyond the current Golden Saddle resource boundary. Additionally, diamond drilling locally has extended Golden Saddle’s nearby GS Main zone 205m down dip from historic drilling, about doubling the down dip extension in the area.

All of Vertigo’s diamond drill holes intersected gold mineralization and the team has identified at least six high- grade mineralized gold structures. The company plans to drill 10,000m at Vertigo this season, one of its most notable discoveries during 2018. Drill intercepts in 2018 of up to 103.9g/t, and grab samples up to 304.3g/t were among the highest grades ever encountered in the White Gold district.

In summer 2019, White Gold identified multiple new high-grade gold mineralization trends across JP Ross further adding to the pipeline. The new trends were identified on the Stage Fright, Sabotage, Topaz, and Vertigo targets, all located within 10km of last year’s Vertigo discovery.

CEO David D’Onofrio said in an industry where even a single gold discovery would be notable, White Gold’s record displayed “the power of our proprietary exploration strategy and methodology”.

He said: “Unlike a typical junior mining company, there is no incentive for us to prolong work on a property where we don’t see the potential. We are systematically performing low-cost exploration work across our entire portfolio to guide where further exploration dollars are spent.”

Progress should be seen in the context of a large regional exploration program that continued to generate “a strong pipeline of new targets demonstrating the district-scale opportunity across WGO’s assets”.

At JP Ross, the team was following prospective gold targets near the Henderson Creek system, where placer gold mining has been taking place since the turn of the century.

Work at GS West and another gold target, Ryan’s Surprise, had demonstrated the existence of myriad satellite deposits surrounding Golden Saddle on trend. By testing similar targets, D’Onofrio hoped to show how the company’s properties would be turned into “a true gold camp”.

Another priority is to add more ounces to the 230,000oz at the VG Zone on the QV property acquired from Comstock Metals in early 2019. Here the resource is inferred at a cut-off of 0.5g/t (4.4 million tonnes grading 1.65g/t).

The VG resource is based on just 17 drill holes — and sits 44km northwest of Goldcorp’s Coffee project, which is being developed as an open pit and heap-leach gold mine, slated for production in 2021.

Significant similarities have been detected in structural setting and mineralization style between VG and Golden Saddle deposits.

D’Onofrio said: “This property has seen very limited exploration to date and we are confident that our team, including Jodie Gibson who originally oversaw the discovery drilling, is well positioned to maximize the value of the VG deposit and the other highly prospective targets on the property. The similarities of the deposit and targets on this property to Golden Saddle and Vertigo provide a unique opportunity to leverage our team’s experience in the White Gold District.”

Elsewhere, the Betty property was contiguous and hosted in the same regional structure as the Coffee project.

Brokers reckon this year’s drilling programme could yield significantly more than the 25% uptick in White Gold’s resource estimate that flowed from the 2018 drilling season.

The current tally amounts to 22,040 quartz claims across 35 properties, over 439,000 hectares/1,084,000 acres. Golden Saddle’s resource has 1,039,000 indicated and 508,000 inferred ounces of high-grade gold.

White Gold is undertaking 17,000m of diamond drilling and 7,500m of reverse circulation (RC) drilling across a wide area

Analysts certainly have White Gold on their radar. GMP Securities have the stock on its buy list with a price target of $2.20, while Canaccord Genuity, Clarus Securities and PI Financial have it on their watchlists.

There are other reasons why White Gold catches the eye.

For a start, legendary Yukon prospector Shawn Ryan is chief technical adviser. Years ago he staked and acquired a huge package of prospective Yukon properties, optioning them to different junior mining companies.
However, after millions of dollars of exploration work, in a soft gold market, the claims lapsed and all reverted back to Ryan, who then spent years reviewing the data, picked the best projects, partnered with PowerOne Capital in Toronto, and created White Gold Corp; this time with a systematic exploration strategy and a regional approach to exploration in the district.

Elsewhere, Rob Carpenter, formerly CEO of Kaminak Gold before it was sold to Goldcorp for US$520 million three years ago, is on the board. He has 25 years of experience as a mining company executive and professional geologist, with a PhD from Western University. He founded Kaminak, the company that discovered the Coffee deposit sold to Goldcorp, leading as president and CEO for seven years, seeing the company listed on the TSXV.

A look at the background of that deal helps to explain White Gold’s appeal.

Kaminak had been operating in the White Gold district since 2009 and produced a delicious feasibility study on Coffee that indicated the mine could be paid for in about two years with 3.4Moz. No wonder Goldcorp pounced, lifting the lid on what the district had to offer, and illustrating to investors the rich land package that White Gold is sitting on as it extends its exploration as well as increasing proven or probable reserves.

White Gold says it has more than 25 other early stage projects sitting in its pipeline.

Talisker Provides Phase 1 Exploration Update, Identifies 17 Anomalous Gold Basins

Talisker Resources Ltd. [CSE:TSK | OTCQB:TSKFF] is pleased to provide an update on the Company’s Phase 1 regional geochemical program  being undertaken on its 100% owned claims covering the majority of the Spences Bridge Gold Belt. A team of 22 geologists is executing the 4,500 sample program, collecting silt fraction (177μm) samples from first and select second order drainage basins.

To date, a total of 1,988 planned samples sites have reviewed with 1,207 stream sediment samples collected. Of the planned sample sites, 781 were discarded due to either insufficient drainage incision, poor stream channel development, insufficient sediment material or overwhelming input from colluvial media. A total of 902 assays from ultra-trace ICP-MS analysis have been received with 305 currently outstanding. Geostatistical analysis of assay results has identified 17 anomalous basins within the 98th percentile defined by values above 32 ppb Au as outlined in the table below. A total of seven basins have been identified as highly anomalous with values above 100 ppb Au (0.1g/t) to a maximum returned value of 315 ppb Au (0.315 g/t). Mean sediment background value (50th percentile) has been identified as 1 ppb Au.

“We are very pleased with the progress of our sampling team so far executing our planned program ahead of time and under budget,” commented Terry Harbort, President & CEO of Talisker who added, “To put these results into perspective for our shareholders, we are seeing anomalies enriched from 30 to 300 times normal background values. Westhaven Venture’s Shovelnose discovery was based on a 68ppb gold stream sediment anomaly (https://aris.empr.gov.bc.ca/ArisReports/28704.PDF). At this stage of our project we have identified 10 basins with more than this level of gold.”

A full summary of results to date is available on the Talisker Resources website.

Talisker has scheduled an update call for interested parties at 12:00 pm ET on Monday, August 26, 2019 hosted by Terry Harbort, President & CEO. To participate, click on the following link – call in details will be available once you log in –  https://www.gotomeet.me/talisker-resources.

About Talisker Resources Ltd.

Talisker Resources Ltd. is a junior resource company involved in the exploration and development of projects in British Columbia, Canada. Talisker’s projects consist of several early to advanced stage projects. The Toodoggone projects located in the prolific Golden Triangle include the past producing Baker Gold/Silver Project, the Shasta Mine and Baker mill infrastructure and equipment, the Chappelle (Baker and Multinational Mines) Property, the Mets Lease and the Bot Property.  South Central B.C. projects include the Tulox Property, the WCGG Properties, and the Spences Bridge Regional Program, a 265,582 hectare land package covering 70% of the Spences Bridge Gold Belt.

For further information on this press release, please contact Terry Harbort, Chief Executive Officer of Talisker at terry.harbort@taliskerresources.com.

Sample Preparation and QAQC

Sample preparation and analyses is carried out by ALS Global, at their laboratory in North Vancouver, British Columbia, Canada. Stream sediment sample preparation was includes drying in an oven at a maximum temperature of 60°C, sieve samples to -180 micron (-80 mesh), retaining both fractions (PREP-41). Rock sample preparation includes drying in an oven at a maximum temperature of 60°C, fine crushing of the sample to at least 70% passing less than 2 mm, sample splitting using a riffle splitter, and pulverizing a 250 g split to at least 85% passing 75 microns (code PREP-31).

Gold and multi-elements in stream sediment samples is analyzed by aqua regia digestion of a 50 g sample split with detection by inductively coupled plasma mass spectrometer (ICP-MS) for 53 elements (Au, Ag, Al, As, B, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, Hg, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Pd, Pt, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr) (Code AuMe-ST44).

Gold in rock samples is analyzed using fire assay of a 50 g sample split with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES) (code Au-ICP21). Multi-elements are analyzed by aqua regia digestion of a 0.5 gram sub-sample with detection by inductively coupled plasma atomic emission spectrometer (ICP-AES) for 51 elements (Au, Ag, Al, As, B, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, Hg, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr) (code ME-MS41).

Qualified Person

Luis Arteaga M.Sc. P.Geo. Exploration Manager for Sable Resources and the Company’s Qualified Person as defined by NI 43-101 has reviewed and approved the technical information in this news release.

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Talisker’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Talisker. Although such statements are based on reasonable assumptions of Talisker’s management, there can be no assurance that any conclusions or forecasts will prove to be accurate.

Forward-looking information contained in this news release is based on certain factors and assumptions. While Talisker considers these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. The forward-looking information contained in this release is made as of the date hereof, and Talisker is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.  Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Lydian expresses disappointment as Armenia mulls another Amulsar audit

Canadian gold mine developer Lydian International interim president and CEO Edwards Sellars on Thursday expressed his disappointment at the news that Armenia’s Prime Minister, Nikol Pashinyan, had asked the Ministry of Environment (ME) to review whether a further environmental impact assessment (EIA) is required for the stalled Amulsar mine project. Sellars said that although Lydian had not received official confirmation of either Pashinyan’s request or the scope of any review to be conducted, it was “more than disappointing” to learn of the Prime Minister’s social media post on Wednesday pointing to the ME request.

Investors hoard most gold in ETFs in six years

Gold’s faring extremely well as a haven asset, with inflows into exchange-traded funds (ETFs) hitting 1 000 t since holdings bottomed in early 2016 after a prolonged unwind in the wake of the global financial crisis. Total known ETF holdings expanded to 2 424.9 t on Wednesday, the highest since 2013, following inflows over the past three years and a continued build-up in 2019, according to data compiled by Bloomberg. Current assets are about 1 000 t higher than the post financial crisis nadir of 1 425.1 t.

This Is A Key Week For US Markets, Gold and Oil

August 21, 2019
Chris Vermeulen
TheTechnicalTraders.com


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Common Stock Warrants & Junior Mining News

African Gold announces fresh round of financing

Gold junior African Gold Group (AGG), which is proposing a 100 000 oz/y mine in Mali, on Thursday announced a C$5-million nonbrokered private placement, on top of the C$3-million placement announced last week. The company announced the new placement, consisting of 11 363 636 units at C$0.44 an unit, after having received “high demand” for its private placement announced on August 14.

Ariana’s confidence grows in Salibas gold development

Turkey-focused exploration and development company Ariana Resources has been granted a second operational licence in the Salibas project area, adding further confidence to its ground-holding in the prospective region. The company has been granted an operational licence for the Hizarliyayla deposit, which lies 8 km to the north of the 4.3-million ounce Hot Gold deposit.