news mining

These are the headlines that I found interesting this morning for mining stock investors/traders.

Terrax Minerals - (TXR:TSXV) -  A good start to the winter drilling season for Terrax with one of the three holes released this morning intersecting 7m of 10.23 g/t gold.  Terrax believes they have one of the 6 major high grade gold camps in Canada and the least explored. The drill holes released this morning where important as they were step out holes drilled to test down dip mineralization. The Crestaurum Zone has been drill tested along strike for 1.2km and has been followed on surface for up to 4km. Drilling is expected to continue into early April when spreak break up will occur. Terrax is in good financial shape with a working capital position of $2.45 million at the end of January. Management owns 18.4% and Osisko Royalties has 9.2% inherited from the takeover of Virginia Mines.

Related: Terrax Minerals is one of the most promising gold explorers in Canada right now

Niogold Mining - (NOX:TSXV) - Eighteen infill drill holes were released at the Marban project in Quebec. All holes released were comparable or higher grade than anticipated in the current block model. An additional 10,000 metres has been added to the current 40,000m program. Current NI-43101 reserves are  ~1.5 million ounces measured and indicated and ~600k in inferred reserves. A new resource model is expected to be released in Q4. The NOX property adjoins the Canadian Malartic mine and the company has seen the old Osisko team come in and finance the company and change management.

Novo Resources (NVO:CSE) - Novo released 121 drill holes this morning from the Beatons Creek gold project in Western Australia. Drill results continue to come back as expected with good grades and continuity of the reefs. The next big catalyst is the assay results of the deep hole drilled ~4km south of the oxide target. NVO continues to do everything needed (metallurgical work/ developing a resource / feasibility study) to fast track the Beatons Creek project to small scale production that will generate cash flow.

Related: Novo pivots toward near-term production with results of moon-shot drill hole imminent

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This is not investment advice. All facts are to be checked and verified by reader. As always please do your own due diligence.