High-grade hits in Yukon, and a rare data-sharing agreement

POSTED ON September 30, 2015 BY James Kwantes
CATEGORY Goldquest Mining, Precipitate Gold, Rockhaven Resources,

Some high-grade hits in Yukon and a rare data-sharing agreement between two junior exploration companies were in the news this morning.

Rockhaven Resources, which is advancing the Klaza gold property in the southern Yukon, announced its latest batch of drill results from the 2015 program. These holes are from the western and central portions of the Klaza and BYG zones and sub-parallel vein structures that are developed in the immediate hanging wall and footwall of those zones. They included:

9.12 g/t gold and 90.5 g/t silver over 1.86 m - Hole 278

.29 g/t gold and 132 g/t silver over 2.39 m - Hole 275

2.84 g/t gold and 357 g/t silver over 2.14 m - Hole 249

3.62 g/t gold and 102 g/t silver over 1.56 m - Hole 251

4.21 g/t gold and 61.4 g/t silver over 1.69 m - Hole 273

The results will be incorporated into an updated resource estimate expected later this year. Rockhaven's maiden inferred mineral resource is estimated at 7,040,000 tonnes containing 948,348 oz gold, 21,780,313 oz silver, 121,060,093 lbs lead and 144,340,881 lbs zinc at an average grade of 4.19 g/t gold, 96.23 g/t silver, 0.78% lead and 0.93% zinc (using a 1.5 g/t gold cut-off).

With 105 million shares out and a stock price of 17 cents, Rockhaven's market cap is about $18 million.

NR: Rockhaven drill results

Strategic Metals, the Archer Cathro-affiliated project generator that owns almost half of Rockhaven, also announced a high-grade chip sample from its Hartless Joe property near Whitehorse.

A continuous chip sample taken across the discovery outcrop graded 60 g/t gold, 554 g/t silver, 5.01% lead, and 0.35% copper over 1.2 m. Strategic says the discovery lies on the lower slopes of an alpine valley, within a 500 by 250 m area containing scattered mineralized talus and strong gold and copper soil geochemical anomalies.

The Hartless Joe property lies within Stikina, an accreted island arc terrane that extends through northern British Columbia into Yukon. Stikina hosts important epithermal vein and exhalite deposits such as the Pretium's Brucejack deposit and the Eskay Creek gold mine.

Strategic Metals has working capital (including equity stakes) of about $37 million and a current market capitalization of about $24 million. Resource Opportunities initiated coverage of Strategic Metals in the Sept. 22 newsletter.

NR: Strategic Metals announces chip sample grading 60 g/t gold over 1.2m at Hartless Joe property, Yukon

Finally, Precipitate Gold and GoldQuest Mining are joining forces by sharing data in the Dominican Republic's Tireo volcanic belt, where both hold properties.

Precipitate Gold is advancing its flagship Juan de Herrera gold project and recently announced that an airborne geophysical survey had identified new geophysical anomalies and three new regional magnetic trends.

Area pioneer GoldQuest is developing the Romero project and exploring its other Tireo properties.

Because GoldQuest has a "substantially larger dataset," Precipitate will advance the company 300,000 shares as compensation (12-mo hold).

By combining their mutual datasets, GoldQuest and Precipitate hope to accelerate the development of a geological model to assist in targeting new mineralization more accurately and efficiently, according to the news release.

"We continue to believe that the Tireo Gold belt will ultimately be recognized as one of the more important new discovery terrains and that the size and density of discoveries could rival currently much more famous mineral belts," said GoldQuest chairman Bill Fisher.

The data-sharing and cooperation agreement is something not often seen in the junior mining world, but the companies believe the agreement will be a win-win for shareholders. Who knows, perhaps it will lead to more such agreements on a cash-starved exploration landscape where every dollar counts.

NR: Precipitate and GoldQuest sign collaborative exploration and data-sharing agreement

James Kwantes

James Kwantes is an editor and mining reporter from Vancouver, Canada. He spent the last decade with Vancouver Sun, covering investing, mining and other business topics. James is the founder of the World of Mining blog and is the editor of Resource Opportunities, a subscriber supported investment newsletter covering compelling early stage mining companies. More →

Twitter: @https://twitter.com/jameskwantes

worldofmining@gmail.com

James Kwantes

Twitter: @https://twitter.com/jameskwantes

worldofmining@gmail.com

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