A look at some of the mining headlines out this morning with some additional context on each.
Kaizen Discovery - (KZD:TSXV) - Kaizen Discovery has announced that they have received a positive screening review by the Nunavut Impact Review Board for an expanded exploration program at the Coppermine project in Nunavut. Now that the screening review has been completed the final processing for permits may proceed.
Kaizen is hoping to receive permits for an expanded multi-year exploration program. The plan is to increase permits from the current 350 square kilometres to 3,500 square kilometres.
Diamond drilling on the currently permit area is expected to begin in the next 2 weeks.
This in my opinion is a positive sign for shareholders. Kaizen must think they have some interesting targets on this district scale land position to be doing this.
Kaizen is looking for a partner at the Coppermine project and will be doing site visits with Japanese investors this month as well.
"We are very encouraged by the Nunavut review board's screening decision," said B. Matthew Hornor, President and CEO of Kaizen.
"Since initiating the permitting process, we have worked diligently to engage with the community of Kugluktuk and the various agencies and organizations involved in the assessment and monitoring of the Coppermine Project. In the process, we've gained a deep appreciation for the concerns, customs and values of the people of Nunavut. In particular, we welcome the support that the project has received from the community of Kugluktuk, the Kugluktuk Hunters and Trappers Organization and the Kitikmeot Inuit Association."
Kaizen shares are very thinly traded with most days in the last 3 months trading under 20,000 shares. With several exploration projects and strong funding from partners if KZD can pull an exciting drill hole the stock should see some action.
When drill assays come back at Coppermine investors will want to look for higher grades to compensate for the location.
Quite often in mining it is investing you increase your odds of success by investing in the right people. The team at Kaizen has a proven track record. Can they do it again?
Related: Friedland-backed Kaizen reports “spectacular” copper grades in Canadian tundra
Premier Gold - (PG:TSX)- Premier Gold has released drill results from the 100% owned Hasaga project in Ontario. Hasaga is located in the prolific Red Lake district and early drill results are encouraging.
Significant new intercepts and developments include:
- Drilling in the Hasaga porphyry has returned broad intercepts that include assays of 0.98 grams per tonne gold (g/t Au) across 126.0 metres (m) including 2.04 g/t Au across 49.0 m in hole HPM021, 1.17 g/t Au across 32.1 m in hole HPM017, and 2.78 g/t Au across 16.1 m in hole HPM005.
- Within the central portion of the Hasaga porphyry, apparent parallel quartz vein zones containing high-grade gold mineralization have been discovered including local visible gold. New intercepts in these high-grade veins include assays of 13.34 grams per tonne gold (g/t Au) across 5.7 metres (m) in hole HMP021, 16.44 g/t Au across 2.0 m in hole HMP020, and 17.37 g/t Au across 1.1 m in hole HMP017.
- Initial assays have been received from the initial 155 metres of core from the first hole drilled at the Central Zone, confirming open pit style mineralization with an intercept of 0.68 g/t Au across 152.0 m from 3.0m to 155.0m including 1.11 g/t Au across 48.0 m from 107.0 m to 155.0 m. Additional assays are pending and will be provided in a future update.
"Early drilling in the two primary target areas at Hasaga demonstrate the potential for open pit, bulk underground and higher grade underground gold mineralization" stated Stephen McGibbon, Executive Vice-President of Premier. "As at several of the significant Red Lake gold discoveries over the past decade including the High Grade Zone, Bruce Channel, and most recently HG Young, we have identified significant gold mineralization proximal to past producing mines. The discoveries confirm that the Red Lake camp remains one of the best places for gold exploration in the world."
Premier Gold is a very solid development company that will be able to survive any further down town in the mining space.
According to the June presentation Premier had ~$90 million in cash and investments and is trading at a market cap of $378 million this morning.
Related:Why the Rush into Canadian Gold Mines May Continue: Steve Todoruk
This is not investment advice. All facts are to be checked and verified by reader. As always please do your own due diligence.