Bob Moriarty of 321gold discusses the high-grade drill outcomes Eskay Mining simply launched from its summer time exploration program at its challenge in British Columbia’s Golden Triangle.
Authorities stupidity gone wild on this mass hysteria we name Covid has had a horrible impact even in areas having nothing to do with Bioweapons of mass homicide and totalitarian regimes. For 2 years getting assays on an inexpensive foundation has been unimaginable. Like each different junior, Eskay Mining Corp. (ESK:TSX.V; ESKYF:OTCQB) is simply now beginning to obtain knowledge from drilling carried out early final summer time.
For tactical causes mining corporations nearly by no means launch outcomes from the center of December till after the primary week of January as a result of frankly nobody is inquisitive about one thing as boring as drill outcomes when the grog is flowing and mistletoe is hanging over the doorway. However come mid-January the outcomes come flowing in.
For Eskay the wait was effectively price it.
Many traders and even most geologists have forgotten or by no means knew within the first place what the aim of drilling a challenge is. Geologists are likely to consider mining is all about spending cash. That’s utter garbage. On the finish of the day mining must be about earning profits. We drill tasks to find out if (1) it’s a mine or (2) it’s not a mine. And the earlier we are able to fill or kill a challenge, the higher off we’re.
Eskay Mining launched unbelievable outcomes on January 19th. Since mining is meant to be about earning profits, crucial gap reported of the eight newest holes reported within the TV Zone all confirmed vital mineralization. One of the best and most vital gap confirmed an unbelievable 238.87 meters of US$142.61 rock in TV21-67.
However traders wish to see flashy bonanza grade numbers and TV21-67 additionally delivered 11.93 meters of US$639.80 rock in one of many subintervals.
Eskay had introduced twenty-five of thirty-eight holes so removed from the TV Zone. Between the TV Zone and Jeff, the corporate drilled 98 holes with a complete of 23,500 meters of core.
Eskay has confirmed to this point they’ve a mine. Clearly they might like to discover a candy spot the place the ore was as wealthy because it was within the unique Eskay Creek Mine with 45.57 g/t Au and a couple of,231 g/t Ag on common however they aren’t there but. However they’ve discovered much more tonnage of decrease grade rock.
The corporate has 20,741,000 warrants at a mean of $1.18 that expire between June 2022 and March of 2023. That may herald an extra $24.4 million in money. I see no cause Eskay would need to do one other elevate and I believe they’re totally funded for an aggressive program in 2022.
Eskay Mining is an advertiser on 321gold. I’ve participated in personal placements previously and acquired shares within the open market. I’m thrilled to be a shareholder and naturally I’m as biased as I will be. Please do your individual due diligence.
Eskay Mining Corp.
ESK-V $3.07 (Jan 19, 2022)
ESKYF OTCQB 163 million shares
Eskay Mining web site
Bob Moriarty based 321gold.com, along with his late spouse, Barbara Moriarty, greater than 16 years in the past. They later added 321energy.com to cowl oil, pure gasoline, gasoline, coal, photo voltaic, wind and nuclear vitality. Each websites characteristic articles, editorial opinions, pricing figures and updates on present occasions affecting each sectors. Beforehand, Moriarty was a Marine F-4B and O-1 pilot with greater than 832 missions in Vietnam. He holds 14 worldwide aviation information.
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