In a September 10, 2021, Crescat Capital briefing from the Precious Metals Summit in Beaver Creek, Colorado, the firm’s Quinton Hennigh, Geologic and Technical Director, provided updates on 15 exploration companies of note.
During Crescat Capital’s Sept. 10, 2021 broadcast from the Precious Metals Summit in Beaver Creek, Dr. Quinton Hennigh, Geologist and Technical Advisor to Crescat Capital, provided updates on numerous exploration companies in the firm’s Precious Metals Fund.
Major news came from i-80, which announced it is acquiring some assets in Nevada, including the Lone Tree mine complex and the Ruby Hill operation, Hennigh highlighted. With this transaction, i-80 will gain existing mills and will have to fill them. That bodes well for exploration companies in the area, such as Timberline Resources Corp. (TBR:TSX.V; TLRS:OTCQB), which is in Crescat’s portfolio.
The entry of i-80 into Nevada’s gold space means Nevada Gold Mines no longer is the sole company in it and now has a competitor.
“It’s really a rejuvenation of the excitement of gold mining in Nevada,” Hennigh said.
Eloro announced more “phenomenal results” from Iska in Bolivia, long intercepts of modest- to high-grade silver equivalency in the Santa Barbara area. There, the company is targeting an expanse that is about 1,200 meters (1,200m) long north to south, 500m long east to west and about 600m deep. That means, Hennigh said, they are targeting about 360 million cubic meters of rock.
Hennigh pointed out that with drilling, Eloro is hitting short intervals, like 50m and 20m, here and there, but taken together the aggregate length of mineralization in the holes is nearing about 30–50 percent in many cases.
“If that holds true, when they do the resource, I expect a very large number to come out of this resource model,” Hennigh said.
Snowline released drill results from its Rogue target, a few tens of kilometers from its Jupiter target. Rogue features an intrusive-related gold system.
The company encountered visible gold in quartz veining and is seeing long intervals of stockwork quartz mineralization that look like they are part of a large system.
“[It’s] exciting to see them make a second discovery within one field season,” Hennigh said. “That’s kind of exceptional for any exploration company.”
Reyna Silver delivered some very high-grade results from its Batopilas project in Mexico.
The Batopilas project is located in Southwest Chihuahua, and spans 1,183 hectares of land as well as 94% of the historic Batopilas Native Silver District.
“Keep a close eye on that story,” Hennigh advised.
Lion One’s Tuvatu Alkaline Gold project is located approximately 24 kilometers NE of the town of Nadi on the island of Viti Levu in the Republic of Fiji.
The company announced multiple high-grade intervals from the deep part of the system at Tuvatu where the feeder zone is expanding and from the areas where the company is conducting expansion and infill drilling.
“I anticipate Lion One continuing to deliver high-grade results like [in] this last news release, over and over again,” Hennigh said.
Mexico-based silver, gold, copper, and polymetallic exploration & development company, Defiance Silver announced some “very exciting” results, some of the highest grade to date, from its Zacatecas silver vein project.
The intervals were wide, one being 20 meters.
“These are veins that you can mine in bulk, and that’s what makes this district such a prolific district,” said Hennigh.
“You can mine these veins and get a lot of tonnage out of one vein, [so] the results are very exciting,” he concluded.
New Found Gold started releasing high-grade results, several hundred gram meters, from Lotto, the northernmost high-grade zone of three at Queensway.
The project is positioned along the Trans-Canada Highway about 15 kilometers west of Gander, Newfoundland.
Keats is the southernmost, and Golden Joint is in the middle of Queensway.
“I think some of the other targets they have that they’ve not talked so much about will start delivering high-grade results here soon,” Hennigh predicted.
Tectonic is both drilling and doing surface geophysical and geochemical work.
After it recently identified a robust, high-grade anomaly that it is excited about, Tectonic Metals is adding a second drill rig to its Tibbs Gold project.
So what exactly were the results that got Tectonic so excited?
Grab rock sampling at the Tibbs Gold Project’s (“Tibbs”) Jorts target returned gold values up to 50.3 g/t Au, with 11 rock samples grading greater than 20 g/t Au and producing a 450m long high-grade gold anomaly.
According to Hennigh, “The season’s not much longer: maybe a month or so, maybe five, six weeks even, but this is very exciting.”
“I hope they get some good holes into this target, and hopefully we have some good news before year end from Tectonic,” he wrapped up.
NV Gold announced the results of a study it did at its Slumber gold project, which located about 50 miles northwest of Winnemucca, Humboldt County, Nevada.
Two drilling campaigns found a new 600-meter-wide, near-surface, mineralized oxide gold zone with notable drill intercepts, including a “very encouraging” 18.3 meters at 0.52 grams per tonne Au.
It expects to commence a third drilling campaign there in the next few weeks.
E2Gold is a mineral exploration company that focuses on the identification, acquisition, exploration, and development of mineral properties in Canada.
Its Hawkins Gold project covers seven townships in north-central Ontario in Canada.
“The geologist working for E2Gold is a friend of mine. I’ve known him for many years,” said Hennigh.
“He is one sharp guy, a very smart geologist, and if there’s anybody out there that can pick apart a project, especially a blind target like this one that’s buried under gravel, and then
find out where to go, it’s Thomas,” Hennigh proclaimed.
E2 mobilized a second rig to its Hawkins project and intends to get more aggressive with its drilling, especially in the deeper holes of high interest.
“They have a plan now: They do anticipate being able to drill in the next few weeks which is exciting because there’s a lot of companies that can’t find drill, but these guys have managed to find one.”
Novo announced its brownfields exploration program, which includes aggressive drilling for which the company boosted its budget by about $2.5 million.
“The goal is to build a resource base that’s going to make for a long-life mine around the Beatons Creek project,” Hennigh noted.
“The team is is going flat out down there,” he noted.
Signature Resources uncovered new prospects on its district-scale, northwest Ontario property.
Hennigh’s take is that “This is a company that is really tackling a district scale play, a brand new greenstone belt that’s not seen any modern exploration.”
“I think that they will deliver a lot of news over the next year or two,” he added.
Canadian-based Aurion Resources’ latest exploration programs are operating in a district-scale greenstone belt on its Risti and Launi East properties in northern Finland.
It has made several discoveries and recently identified some new targets, making it a company of interest.
“I’m very excited about the belt in Finland,” confirmed Hennigh.
Firefox Gold is another Crescat Capital investment operating in the same area as Aurion.
Firefox is drilling and should be releasing results soon.
An interesting fact is that the company is named for the Finnish word for the northern lights, revontuli, which directly translates into English as fox’s fire.
“Firefox is drilling away. I mean, they’ve had drills turning for three or four months now, [so] I would expect news out of Firefox soon, so stay tuned on that front,”
Eskay Mining is more than halfway through its drill program.
It is drilling at Jeff and TV as well as at C10.
Geologist Thomas Monecke is on site to help Eskay identify some of the key features of these volcanogenic massive sulphide systems, which will help the company explore additional targets.
Missed the macroeconomic portion of the Sept. 10 briefing? Click here for part one of Crescat’s coverage.
Streetwise Reports Disclosures:
1) This is contributed content from Crescat Capital compiled by Doresa Banning for Streetwise Reports LLC. Doresa Banning provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None. Her company has a financial relationship with the following companies referred to in this article: None.
2) Dr. Quinton Hennigh is Crescat Capital’s Geologic and Technical Director. You should assume that as of the publication date, Dr. Quinton Hennigh has a position in the securities discussed and therefore stands to realize significant gains in the event the price of security moves.
3) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: E2 Gold Inc. and Lion One Metals Ltd. Click here for important disclosures about sponsor fees. An affiliate of Streetwise Reports is conducting a digital media marketing campaign for this article on behalf of E2Gold. Please click here for more information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of E2Gold Inc. and Cabral Gold Inc., companies mentioned in this article.
Important Crescat Disclosures Provided by Crescat Capital
Please read Crescat’s important disclosures.
Nothing herein should be construed as personalized investment advice or a recommendation that you buy, sell, or hold any security or other investment or that you pursue any investment style or strategy.
Case studies are included for informational purposes only and are provided as a general overview of Crescat’s general investment process, and not as indicative of any investment experience. There is no guarantee that the case studies discussed here are completely representative of Crescat’s strategies or of the entirety of its investments.
Crescat has compiled its research in good faith and while it uses reasonable efforts to include accurate and up-to-date information, it is provided on an “as is” basis with no warranties of any kind. Crescat does not warrant that the information on this site is accurate, reliable, up to date or correct. In no event will Crescat be responsible or liable for the correctness of any such research or for any damage or lost opportunities resulting from use of its data.
You should assume that as of the publication date, Crescat has a position in the securities discussed and therefore stands to realize significant gains in the event the price of security moves. Following the publication date, Crescat intends to continue transacting in the securities, and may be long, short, or neutral at any time.