The core shack at Roundup is where you find serious teams who are still funding exploration projects in a harsh market. It’s also one of the better places to talk shop on existing or emerging discoveries. Today, a few stories catch our eyes.
Skeena Resources (SKE-V)
This is a Ronald Netolitzky outfit exploring the Golden Triangle in B.C. The key goal is the expansion the Spectrum gold deposit. Recent drilling has cut some zingers like 10.63 g/t Au over 27 metres. Now Skeena is updating a resource, due out this quarter, and meantime exploring the neighbouring GJ project. Skeena recently optioned GJ from Teck and NGEX and it contains sizeable copper gold resources (133.67 M tonnes grading 0.32% Cu and 0.36 g/t Au). It also has a number of gold-silver prospects that Skeena reckons are similar to Spectrum.
Latest presentation here.
Cash: $2.6m (Sept. 2015)
Erdene Resources (ERD-T)
Erdene is a long time explorer focused on Mongolia. In recent years they’ve focused on an emerging gold discovery called Altan Nar where last year they outlined some 203,800 ounces gold @ 1.39 g/t Au in two zones – of many it should be added. The property is riddled with prospects. So far most drilling has been near surface, averaging only 105 metres depth. They continue to expand on discoveries there as they outline a new one at the nearby Bayan Khundii discovery, where sampling at surface has produced notable hits including up to 4,380 g/t Au.
Cash: ~$1 million (private placement Nov. 10)
Independence Gold (IGO-V)
These guys operate in the Yukon in the White Gold district, with ground to the south of Kaminak’s Coffee gold project. One of the key prospects is the Sunrise zone on the Boulevard project. Recent drilling hit fairly narrow, but nonetheless very interesting gold intercepts with up to 3 metres @ 15 g/t Au.
Cash: ~$7.5m (March 2015)
Foran Mining (FOM-T)
Foran holds one of Canada’s largest undeveloped VMS deposits in Saskatchewan, McIlvenna Bay. Here they count 13.9mt @ 1.96% copper-equivalent. To the west, Foran has focused exploration on finding extensions to a separate deposit, Bigstone, and proving up metallurgy to bring it into the fold of development plans. Drilling in winter 2015 hit up to 54 metres @ 2.5% copper at Bigstone, making it one of the more interesting base metal deposits in Saskatchewan and beyond.
Cash: $1.4m (Sept. 30)
Wolfden Resources (WLF-V)
Wolfden recently shifted focus away from New Brunswick VMS deposits, to Saskatchewan nickel sulphides. Wolfden’s chief interest is showing there’s more nickel mineralization at Rice Lake, beyond historic areas, on ground that was long held by majors but little explored. I recently gave an overview of plans here.
Cash: $360k raised in December.
Mariana Resources (MARL-L)
Hot Maden, Turkey. This is a project that caused considerable buzz (and still does so) through 2015 as one of the higher grade gold discoveries in recent years. It led to an indicated resource of 4.71mt @ 10 g/t Au & 2.2% Cu. Expansion drilling continues. Mariana, which has a 30% stake in the project, is listed in London and made a well-timed takeover of a TSX issuer that previously held the project just before the discovery was made.
Cash: $2 million
Check out the rest: The full list of companies in the core shack is here.Worth your time.