Counting Down Top Drill Holes of 2021


On any given enterprise day, outcomes from a drill gap can flip a Wednesday into Christmas Day for shareholders. We check out what consultants suppose are the most effective drill holes of 2021.

Drill holes are junior mining’s lifeblood. They’ll drive investor curiosity, make firms and cement reputations.

There was a whole lot of motion in 2021, and Streetwise Reviews is counting down the High 5.

E-newsletter author John Kaiser, editor of soon-to-launch Kaiserresearch.com, has made a profession of taking a look at drill outcomes on behalf of retail traders to find out whether or not or not these outcomes have benefit.

Drill bitKaiser says among the trade’s huge discoveries had been a part of well-planned exploration applications, however among the largest had been basically flukes. 

“At Fruta del Norte when (Aurelian Assets) drilled that deep gap and intersected 200 meters of actually high-grade (gold), that took the inventory from 60 cents to two-and-a-half {dollars},” Kaiser tells Streetwise. “It was blind gap, too. (Aurelian) had chewed by (about) $19 million and achieved nothing after which went for this ‘Hail Mary’ gap and it was like catching a landing within the endzone to win the Tremendous Bowl.”

The drill gap Kaiser referred to hit 189 metres averaging 24 grams gold per tonne (24 g/t gold) in 2006 on the Fruta del Norte gold venture in Zamora Chinchipe province, Ecuador.

Aurelian went on to drill off a 13.7 Moz gold useful resource there earlier than Kinross Gold Corp. (Ok:TSX; KGC:NYSE) launched a takeover bid price about CA$1.2 billion in July 2008. After political tangles stalled improvement, Lundin Gold Inc. (LUG:TSX) purchased Fruta del Norte in 2014 for about $240 million, made good with the locals, and poured its first gold in 2020.

This 12 months proved a banner 12 months for drill outcomes as gold costs flirted with US$1,900/oz for the higher a part of 12 months; silver spent a lot of 2021 nicely above US$22, nearly double its 10-year low of US$12.47 in March 2020; and copper persistently examined US$4.80/lb, up from a five-year low of US$2.25/lb in April 2020.

For our functions, the standards had been easy: these drill outcomes needed to include vital gold, be revealed in 2021 and finally transfer the needle on the share value.

Listed below are the High 5 Drill Holes of 2021.

 

Commodity: Gold

Challenge: Tartan Lake

Intersection: TLMZ21-12 intersected 5.8 meters averaging 47.56 g/t gold, inside a broader interval of 12.6 meters averaging 23.76 g/t gold

The place: Flin Flon Greenstone Belt, northern Manitoba

Possession: 100% Satori Gold

Overview: Satori was late to the social gathering however made the lower after a information launch on Dec. 6 reported that gap TLMZ21-12 intersected 5.8. meters averaging 47.56 g/t gold on the Tartan Lake Gold Challenge in Manitoba. It was a part of an extended interval of 12.6 meters averaging 23.76 g/t gold.

The hit is considered a brand new zone of mineralization, sub-parallel to the primary zone.

Holes TLMZ21-12 and TLMZ21-11 12 each focused the down plunge continuation of the primary zone mineralization. TLMZ21-11 intersected 5.3 meters working 2.25 g/t gold within the Hanging Wall (HW) zone adopted by 2.1 meters of 8.87 g/t gold in the primary zone.

TLMZ21-12 is the second highest grade interval ever reported at Tartan Lake, which operated from 1987 by 1989 and produced barely lower than 36,000 oz gold.

Kaiser lists Satori amongst his “Backside Fish” picks.

“(Tartan Lake) is a type of orogenic high-grade (gold) methods in Manitoba. It was improperly developed after which deserted after which bought,” Kaiser tells Streetwise. “(President and CEO) Jennifer Boyle and (director) Wes Hanson at the moment are attempting to revive it and show that these high-grade veins lengthen vertically. The trick is that the deeper you go in these sub-vertical methods the costlier the holes turn out to be and the longer it takes. So they have been busy working to increase the down plunge potential of the (mineralized gold) system to indicate that there is sufficient gold bearing ‘meat’ current to justify redeveloping this technique.”

Shares of Satori closed at $0.165 on Dec. 8., two days after information of TLMZ21-12 hit the market, a 37.5% bump from the $0.12 shut on Dec. 1.

It looks like Boyle and her group have issues transferring in the fitting path.

 

Commodity: Gold

Challenge: Frotêt

Intersection: 5.72 meters working 90.56 g/t gold, together with an interval of three.89 meters grading 132.57 g/t gold (DDH 21RDD024) on the Regnault (R1) deposit

The place: Frotêt-Evans Greenstone Belt, James Bay lowlands, northern Quebec

Possession: Kenorland Minerals, 20%; Sumitomo Steel Mining Co. (SMMYY:OTC), 80%. Kenorland is the operator.

Overview: The outstanding DDH 21RDD024 was hit throughout follow-up drilling at its Frotêt gold venture in northern Quebec. Kenorland was in search of larger understanding of the east-west orientation of the mineralized buildings within the Regnault deposit. The junior found the Regnault gold system and the R1 construction early in 2020 when gap DDH 20RDD007 hit 29.08 meters grading 8.49 g/t gold.

“Regnault is rising as a really attention-grabbing new discovery… (Kenorland) has secured a strategic accomplice (Sumitomo) that may find the money for any (capital expenditures), which takes away among the financing danger. KLD-V is one to look at,” Mining Analyst Eric Lemieux informed Streetwise in July.

In November, Sumitomo Steel Mining Canada purchased 5.2 million frequent shares in Kenorland at $1 apiece. Sumitomo now owns 10.1% of Kenorland’s excellent shares. About 80% of the cash is earmarked for additional exploration, whereas the remainder will cowl normal bills.

 

Challenge: Johnson Tract

Intersection: 56.6 meters at 18.69 g/t gold, 3.9 g/t silver, 2.43% zinc, 0.47% copper, and 0.36% lead, together with an eye-popping interval of 32.9 meters working 31.69 g/t gold, 5.1 g/t silver, 1.82% zinc, 0.58% copper, and 0.47% lead.

The place: Alaska

Possession: 100% HighGold Mining (Prepare dinner Inlet Area, Inc. [CIRI], one in every of 12 land-based Alaska native regional firms created by the Alaska Native Claims Act of 1971, has a back-in proper for as much as a 25% collaborating curiosity).

Overview: HighGold Mining has been steadily constructing the useful resource and de-risking the venture since buying John Tract in 2019. And with mining financiers Eric Sprott and Robert McEwen aboard, it received’t have to fret about financing. It at present has about $26 million within the kitty.

 

An preliminary useful resource estimate revealed in June 2020 reported 2.7 million indicated tonnes grading 6.1 g/t gold, 6 g/t silver, 0.6% copper, 5.6% zinc and 0.8% lead, the equal of roughly 750,000 oz gold. One other 0.6 Mt inferred tonnes grading @ 2.1 g/t gold, 9 g/t silver, 0.5% copper, 6.7% zinc, and 0.3% lead works out to about 134,000 oz gold, and that was earlier than gap JT21-125.

An up to date useful resource estimate is anticipated within the first half of 2022.

Southeast of JT21-125, drill gap JT21-123 hit 4.3 meters grading 13.1 g/t gold, 200 g/t silver, 4.9% zinc, 2% lead and 0.40% copper, which principally confirms the down-plunge strike enlargement of Johnson Tract.

“Joe Mazumdar and I believe the Johnson Tract deposit is a hybrid VMS (volcanogenic huge sulphide), late intermediate sulphidation overprint. There are additionally epithermal showings, presumably associated to a separate porphyry,” says geologist Brent Prepare dinner, former editor of the Exploration Insights e-newsletter. “Joe Mazumdar has labored up a tough useful resource estimate and thinks 750,000 to 1 million oz is an inexpensive goal for the primary deposit. Good potential outdoors of this.”

HighGold closed at $1.75 on Oct. 6, the identical day information of JT21-125 turned public, up from $1.01 the day earlier than ­– a one-day 73% spike within the share value.

 

Commodity: Copper, Gold, Silver

Challenge: Los Helados

Intersection: LHDHG03 returned 1,134 meters grading 0.79% copper-equivalent (CuEq) (0.59% copper, 0.30 g/t gold, and 1.9 g/t silver), together with a higher-grade interval of 440 meters working 1.03% CuEq (0.82% copper, 0.31 g/t gold, 2.9 g/t silver)

The place: Chile

Possession: 64% NGEx; 36% Japanese firm Nippon Caserones Assets

Overview: Whereas LHDHG03 was revealed in 2021, it was truly drilled in 2015 as a part of a program to gather whole-core geotechnical knowledge. It wasn’t assayed till this 12 months however was well worth the wait.

LHDHG03 returned 1,134 meters grading 0.79% CuEq (0.59% copper, 0.30 g/t gold, and 1.9 g/t silver), together with a higher-grade interval of 440 meters working 1.03% CuEq (0.82% copper, 0.31 g/t gold, 2.9 g/t silver). It’s a part of a a lot bigger copper-gold porphyry deposit and might be a part of an upcoming revised useful resource estimate.

NGEx boasts that Los Helados is the fourth largest copper discovery within the final 10 years.

Utilizing $3.00 copper and $1,300 gold, Los Helados accommodates a Nationwide Instrument compliant indicated useful resource of 17.6 billion kilos copper and 10.7 Moz gold, in addition to an inferred useful resource of 5.8 billion kilos copper and a pair of.7 Moz gold.

NGEx was created in 2009 by the Lundin Group to honour patriarch Adolf Lundin (1932-2006). NGEx = No Guts (No Glory) Exploration.

The junior closed at $1.55 on Dec. 21 on quantity of 118,000 shares, up from $0.72 when information of LHDGH03 was revealed Sept. 8.

 

Commodity: Copper, gold, silver

Challenge: Filo del Sol

Intersection: 858 meters grading 1.8% CuEq (0.86% copper; 0.7 g/t gold, and 48.1 g/t silver) or from 188 meters under floor. The opening had a fair sweeter interval of 163 meters working 2.31% copper, 2.07 g/t gold and 183 g/t silver or 5.43% CuEq.

The place: San Juan province, straddling the border between Argentina and Chile (it’s topic to the Mining Integration and Complementation Treaty for cross-border initiatives between the twcountries).

Possession: 100% owned by Filo Mining (about 34% of Filo is owned by the Lundin Household Belief, AKA the Lundin Group. Lukas Lundin is a director, whereas Adam Lundin is chairman)

Overview: That is the King Daddy Topper—Filo Mining’s FSDH041—the longest high-grade intersection but in what’s considered one of many feeder zones to the high-sulphidation epithermal mineralization at Filo del Sol.

The mind-blowing factor about this gap is that even after 858 mineralized meters, the opening led to mineralization at a depth of 1,046 meters.

On Might 12, Filo Mining closed at $4.13. A day later, when the information of FSDH041 reached the market, it spiked to an intraday excessive of $8.49 and closed at $7.69 – an 86% pop. It closed at $11.73 on Dec. 21.

Filo Mining acquired the venture when it was spun out of NGEx in 2016.

FSDH041 is a part of a cluster of gorgeous holes at Filo del Sol, which incorporates FSDH046, the deepest gap drilled at Filo Del Sol to this point — and doubtless the second-best drill gap of 2021.

It returned 676 meters at 0.92% CuEq (0.57% copper, 0.34 g/t gold, and 11.3 g/t silver) from a depth of 380 meters inside an extended interval of 1,378 meters working 0.71% CuEq (0.45% copper, 0.29 g/t gold, and 6.1 g/t silver) from a depth of 77.7 meters.

FSDH046 ended nearly 1.6 km under floor ­– and it’s not included within the present useful resource.

There are 5 drill rigs at present turning at Filo Del Sol. The corporate expects so as to add two extra in 2022 to additional outline the sulphide useful resource and see how far out the mineralization extends.

After Filo revealed FSDH041in Might, rogue mining analyst Mark Turner, editor of the controversial IKN weblog, wrote: “It should be a factor to witness the core developing (from the drill), as you understand each size is including hundreds of thousands of {dollars} to your organization’s market cap. Gap of the 12 months, interval.”

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Disclosures:
1) Brian Sylvester compiled this text for Streetwise Reviews LLC and supplies providers to Streetwise Reviews as an impartial contractor. He or members of his family personal securities of the next firms talked about within the article: None. He or members of his family are paid by the next firms talked about on this article: None. His firm has a monetary relationship with the next firms referred to on this article: None.
2) Joe Mazumdar: I personal, or my household owns, shares of the next firms talked about on this interview: HighGold Mining. I personally am, or my household is, paid by the next firms talked about on this interview: None.
3) Brent Prepare dinner: I personal, or my household owns, shares of the next firms talked about on this interview: HighGold Mining. I personally am, or my household is, paid by the next firms talked about on this interview: None.
4) Eric Lemieux: I personal, or my household owns, shares of the next firms talked about on this interview: Kenorland Minerals Ltd. I personally am, or my household is, paid by the next firms talked about on this interview: None.
5) John Kaiser: I personal, or my household owns, shares of the next firms talked about on this interview: None. I personally am, or my household is, paid by the next firms talked about on this interview: None.
6) The next firms talked about are billboard sponsors of Streetwise Reviews: Kenorland Minerals Ltd.  Click on right here for necessary disclosures about sponsor charges.  
7) Feedback and opinions expressed are these of the precise consultants and never of Streetwise Reviews or its officers. The data offered above is for informational functions solely and isn’t a suggestion to purchase or promote any safety.
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9) Infrequently, Streetwise Reviews LLC and its administrators, officers, staff or members of their households, in addition to individuals interviewed for articles and interviews on the location, could have an extended or brief place in securities talked about. Administrators, officers, staff or members of their speedy households are prohibited from making purchases and/or gross sales of these securities within the open market or in any other case from the time of the choice to publish an article till three enterprise days after the publication of the article. The foregoing prohibition doesn’t apply to articles that in substance solely restate beforehand revealed firm releases. As of the date of this text, officers and/or staff of Streetwise Reviews LLC (together with members of their family) personal securities of Kenorland Minerals Ltd., an organization talked about on this article.

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