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Nevada Gold Explorer Discusses High-Grade Drill Results

Source: Streetwise Reports   07/06/2021

This gold exploration company in the "best jurisdiction in the world," according to the Fraser Institute,…

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This article was originally published by The Gold Report

Source: Streetwise Reports   07/06/2021

This gold exploration company in the “best jurisdiction in the world,” according to the Fraser Institute, is turning heads with the drill bit.

The Streetwise Live! broadcast on July 6, 2021, focused on gold as an investment and gold exploration company Riley Gold Corp. (RLYG:TSX.V; RLYGF:OTCQB). The broadcast featured guests Gwen Preston, editor of the Resource Maven newsletter, and Todd Hilditch, Riley Gold’s CEO.

Cyndi Edwards began the broadcast by asking Gwen Preston, the Resource Maven, why some investors aren’t even aware of gold as an investment option. That phenomenon, Preston said, most likely is due to gold’s ebb and flow, going in and out of phases of “incredible value.”

“When we get a gold bull market, it is incredibly profitable for investors who are positioned for that, and you can be positioned in low risk gold miners all the way through to high risk gold explorers,” she said. “It really works when the market’s hot, and all the macroeconomic forces are lined up for the market to work right now.”

Looking forward, Preston purports that by fall, gold’s strongest season, the precious metal will be heating up. In the meantime, for the next month or two, though, the gold price will stay about the same while the market determines how much inflation we’ll see and for how long, and what, if anything, the Federal Reserve intends to do regarding interest rates. She pointed out that inflation is good for gold, saying that high inflation makes gold prices rise because gold is a hedge against a devaluing dollar.

“I really think gold has support almost no matter what happens, from a macroeconomic perspective, as a hedge against uncertainty and simply because gold at $1,800 means gold miners are printing money,” Preston added. “So gold just makes a lot of sense as a dividend paying, low risk stock.”

Edwards noted that Riley Gold Corp. is an exploration company looking for gold in Nevada’s Great Basin. She asked its CEO, Todd Hilditch, whether the state still has gold to be found. He responded that yes, it does.

“The state of Nevada is sixth largest [gold] producer as a region in the world,” he added. “The gold endowment in this state is unbelievable, and we believe there’s lots more to be found.”

Hilditch then described Riley Gold’s two projects. One is Tokop, located in the Walker Lane Trend and on a 20-plus kilometer land package. The project was last explored by another operator 10 years ago. Since Riley Gold brought it online in 2020, the company has conducted a sampling program of 200 samples, which showed reasonably good widths and 0.5 ounce material at surface. Based on those results, Riley Gold planned and began a 20-hole drill program. The three holes drilled to date at Tokop returned up to 17 grams per ton (17 g/t) gold.

“We’re fortunate that our truth serum in the drill rig was able to show that we do have high grade subsurface,” Hilditch said.

The explorer intends to keep drilling at Tokop throughout the summer, as well as mapping, sampling and doing additional geophysics.

Riley Gold’s other project, Hilditch said, is Pipeline West/Clipper, in the Battle Mountain-Eureka Trend and adjacent to Nevada Gold Mines’ Gold Acres open pit. Riley Gold plans to start work at Pipeline West/Clipper this fall.

Edwards noted that Riley Gold is getting analysts and others’ attention. For example, she said, Gerardo Del Real of Resource Stock Digest says the Vancouver-based explorer’s numbers so far are great. They show up to 17 g/t gold and 253 g/t silver at Tokop.

Preston, the expert behind The Maven Letter newsletter, also considers Riley Gold a good investment for those looking for a high risk-high reward play, she said, as it meets her requirements in four areas: people, structure, project and plans. The Riley Gold team is experienced with proven success. The company structure is ideal. The project is mostly unexplored, is in a great location, has high grade gold and has potential for low grade bulk gold. Also, the company has plans to create value for shareholders, and its first drill results are good.

Hilditch touched on Riley Gold’s structure, noting management has been intentional about limiting the number of shares it has issued and outstanding, which is 25 million. Management also purposefully opted to start with a project at the beginning of the life cycle versus buying and trying to develop ounces in the ground, thereby increasing the potential rewards for investors.

As for Riley Gold’s team, Hilditch said it includes exploration manager Charlie Sulfrian, who has 40 years of production-to-development geological experience, 22 of those years with Barrick, and chairman William Lamb, whose experience includes finding golf ball-sized diamonds in Botswana as the CEO of Lucara Diamond Corp.. The rest of the Riley Gold team together advanced four companies in the last decade to the point of getting taken over, doing a takeover or merging with another entity.

The broadcast ended with Hilditch describing a photo depicting core from Tokop. He said the core in the bottom of the photo returned 17 g/t gold and that in the top demonstrated 0.522 g/t gold.

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Streetwise Reports Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Riley Gold. Please click here for more information.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Riley Gold, a company mentioned in this article.

Disclosures:

  1. This broadcast does not constitute investment advice. Each viewer is encouraged to consult with his or her individual financial professional and any action a viewer takes as a result of information presented here is his or her own responsibility. This broadcast is not a solicitation for investment. Streetwise Live! does not render general or specific investment advice and the information should not be considered a recommendation to buy or sell any security. Streetwise Live! does not endorse or recommend the business, products, services or securities of any company mentioned here.
  2. Statements and opinions expressed are the opinions of the presenters and not of Streetwise Live! or its officers. The presenters are wholly responsible for the validity of the statements. The presenter was not paid by Streetwise Live! for this broadcast. Streetwise Live! requires presenters to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Live! relies upon the authors to accurately provide this information and Streetwise Live! has no means of verifying its accuracy.
  3. The following companies discussed in this broadcast have paid a $10,000 fee to participate: Riley Gold Corp.
  4. From time to time, Streetwise Live! and its directors, officers, employees or members of their families, as well as persons interviewed for broadcasts and interviews on the site, may have a long or short position in securities mentioned. As of the date of this broadcast, officers and/or employees of Streetwise Live! (including members of their household) own securities of the following companies discussed in this broadcast: Riley Gold Corp. Riley Gold Corp. has a consulting relationship with an affiliate of Streetwise Live! (description available at https://www.streetwisereports.com/disclaimer/html#consulting). Riley Gold Corp. is not a billboard sponsor of Streetwise Reports, an affiliate of Streetwise Live! (description available at https://www.streetwisereports.com/disclaimer/).
  5. Todd Hilditch – CEO, Director owns securities of the company.
  6. Disclosures for: Gwen Preston – The Resource Maven. I, or members of my immediate household or family, own securities of the following companies discussed in the broadcast: Riley Gold Corp. I personally am, or members of my immediate household or family are, paid by the following companies discussed in the broadcast: None. My company has a financial relationship with the following companies discussed in the broadcast: None.
  7. Disclosures for: Cyndi Edwards, Host. I, or members of my immediate household or family, own securities of the following companies discussed in the broadcast: None. I personally am, or members of my immediate household or family are, paid by the following companies discussed in the broadcast: None. My company has a financial relationship with the following companies discussed in the broadcast: None.

( Companies Mentioned: RLYG:TSX.V; RLYGF:OTCQB,
)





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Precious Metals

Equinox Gold Breaks Ground For Greenstone Mine, Targets First Gold Pour In H1 2024

Equinox Gold Corp. (TSX: EQX) announced today the groundbreaking for the construction of the Greenstone gold mine in Ontario. The
The post Equinox Gold…

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Equinox Gold Corp. (TSX: EQX) announced today the groundbreaking for the construction of the Greenstone gold mine in Ontario. The mine is being developed in a 60-40 partnership with Orion Mine Finance Group.

The initial capital cost is expected to be $1.23 billion, including $50 million spent to date and a $177 million contingency budget. It is estimated that 10% of the construction will happen for the rest of 2021, 40% in 2022, 35% in 2023, and the remaining 15% in 2024. The mining firm plans to finance its attributable portion of the capital expenditure through its existing treasury worth $330 million as of June 2021, cash flow from its producing mines, and a $400 million revolving credit facility.

Greenstone mine is reported to have an initial mine life of 14 years and total gold production of 5.05 million ounces. For the first five years, the average annual production is estimated to be 400,000 gold ounces, then it becomes 360,000 gold ounces annually for the rest of the mine’s life.

The mining is expected to start in Q4 2022 and the first gold pour is targeted in H1 2024.

Equinox Gold last traded at $9.86 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

The post Equinox Gold Breaks Ground For Greenstone Mine, Targets First Gold Pour In H1 2024 appeared first on the deep dive.


Author: ER Velasco

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Economics

The Bond Market “Paradox”

The Bond Market "Paradox"

Authored by Peter Tchir via Academy Securities,

I don’t remember a lot from the 90’s, but one memory has come…

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The Bond Market “Paradox”

Authored by Peter Tchir via Academy Securities,

I don’t remember a lot from the 90’s, but one memory has come back with vivid clarity.

Working with friends and colleagues, who were taking start-up projections and being “conservative” yet completely impossible.

Yes, in their models, users slowed from 200% growth to 50% growth a few years down the road, but their projections still gave them more users than humans within a few years.

That reminds me of legend about grains of rice and a chessboard. According to legend, a ruler asked a servant what they wanted as a reward for some incredible deed. The person asked for one grain of rice to be placed on the first spot on the checkerboard. Two on the second. Four on the third and so on. Doubling the number of grains for each new space on the checkerboard. While that seemed like an absurdly low reward to the ruler, who was probably expecting to be asked to pay his weight in gold (too bad we didn’t have bitcoin back then), but it turns out to be an impossibly large number.

Which brings me to Tesla’s recent price action. Up 12% on Monday, up 7% on Tuesday morning before falling by almost 9% from that level. While at a glance, the percentage moves are on the high side, it is the market cap moves that are simply astounding. 100’s of billions of market cap are being created and sometimes lost, in hours. Even as someone who doesn’t believe in efficient markets, that seems bizarre, at best. According to the WSJ, $16.1 billion of option premium was traded on Monday on Tesla. Which was more than the next 99 most actively traded option tickers combined! What is amazing about that is it includes contracts on S&P and Nasdaq futures and ETFs like SPY and QQQ. I assume they only publish the top 100, so if the value of Tesla option contracts wasn’t more than the value of every other option contract traded on Monday, I’d be surprised.

Whether we are at a blow-off top or not, remains to be seen, but

  • Those sorts of market cap swings seem inexplicable

  • Those sorts of option trading volumes seem inexplicable

But since they happened, the inexplicable must be explicable, I just wish I had a good explanation other than it is a gambler’s market and true liquidity, low at the best of times, is being severely tested by gamma squeezes and portfolios need to be hardened against that (or positioned to take advantage).

The Bond Market “Paradox”

We went into more detail on this in Sunday’s “Clear as Mud” but the following seems to be happening:

  • The market is pricing in the Fed hiking sooner. This is causing yields at the front end to rise. I think it is the wrong thing for the market to do, but I think the headlines will help that trade move along (so I’m betting on something happening that I don’t think should happen, but it is also too early to get in the way of the theme). I continue to believe that the next act in the play of not hiking will be to switch from talking “transitory” to talking “long term averages” but that isn’t the narrative the market is fixated on, at least not yet.

  • The long end rallies on Fed hikes. The simple narrative would be that the Fed is going to raise rates, which causes bond yields to rise. That is currently not the reaction, as bond investors are sniffing out the potential for the Fed to slow growth too early, or at exactly the wrong time. So fears of a more hawkish fed are driving curves flatter in a “pivot” sort of format (this morning, the pivot point is around 5 years, with bonds less than 5 years to maturity are seeing yields rise, while those longer than 6 years, are seeing yields fall).

  • Stocks No Longer “Love” Lower Long-Bond Yields. Parts of the stock market that had been positively correlated to bond prices are now “normalizing” and trading as though they are negatively correlated. That makes sense, because if longer dated bond yields are going lower because of fear of the Fed snuffing growth out, it just isn’t good for the market (unlike when yields are going lower because the Fed is buying so much and there is no material threat of sustained inflation).

Longer dated bond yields could benefit from a “risk-off” type of move, which the market seems far less positioned for today, than they were a few weeks ago.

I do miss the 90’s, but those are stories for another day.

Tyler Durden
Wed, 10/27/2021 – 10:46



Author: Tyler Durden

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Today’s News

Phoenix Gold Begins Phase 2 Drilling at York Harbour Cu-Zn-Ag-Co Project in Newfoundland

 

Vancouver, British Columbia – TheNewswire – October 27, 2021 – Phoenix Gold Resources Corp. (TSXV:PXA) (OTC:PGRCF) (Frankfurt:5DE) (“Phoenix…

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Vancouver, British Columbia – TheNewswire – October 27, 2021 – Phoenix Gold Resources Corp. (TSXV:PXA) (OTC:PGRCF) (Frankfurt:5DE) (“Phoenix Gold” or the “Company”) is pleased to report that Phase 2 diamond drilling has begun on its York Harbour Mine Property (“York Harbour” or the “Property”) in western Newfoundland, Canada. Three drill holes have been completed during the past 10 days of a planned 27-hole diamond drilling program totalling an estimated 4,225 metres.

The on-site project geologist has reported that the latest drill hole YH21-14 intersected semi-massive and massive volcanogenic sulphide (‘VMS’) mineralization from a drilling length of 105 to 120 m.  After geological and geotechnical logging the drill core from holes YH21-13 and -14 will be transported to the Planet X Exploration facilities in Gander for sampling and later shipping to Actlabs in Ancaster, Ontario for rush ICP analyses and over-limit assaying.

Photographs of the drill core with the reported massive sulphide mineralization intersected by drill holes YH21-13 and 14 are shown as follows.


Click Image To View Full Size

 

       Massive sulphide in DDH YH21-13              Massive sulphide in DDH YH21-14

 

The Phase 1 drilling program was carried out from July 28th to August 14th.  This program, the first on the property since Wolfden Resources’ drilling in 2004, successfully validated historical drilling results with 6 of the 9 drill holes intersecting drill-indicated Cyprus-type VMS mineralization in the historical ‘A’, ‘G’ and ‘H’ zones and encountering similar mineralization both along strike and downdip of these zones.  Two diamond drill holes had to be abandoned when they encountered a wide fault zone, and a third hole intersected a section of the 400 Level adit where it lost circulation and was not completed to its intended depth.

At the present time the Company is awaiting the analytical results for 200 of 300 drill core samples from the Phase 1 diamond drilling program.  Selected mineralized intercepts from 4 of the 9 Phase 1 drill holes were reported in the Company’s news release dated October 12th.  A few of those mineralized intercepts that were previously reported for drill holes YH21-04, -06, -08 and –09 are as follows.

DDH

From

To

Interval

Copper

Zinc

Silver

Target Zone

No.

(m)

(m)

(m)

(%)

(%)

(gpt)

 

YH21-04

180.03

189.54

9.51

1.69

0.13

1.43

H Zone

YH21-06

146.26

194.05

47.79

0.85

0.57

1.49

H Zone

YH21-08

122.30

128.90

6.60

0.62

0.65

3.37

G Zone

YH21-09

5.00

14.54

9.54

1.69

0.11

2.83

A Zone

 

The Phase 2 diamond drilling program has been designed to firstly better delineate the known drill-indicated VMS mineralization for future resource estimations and to explore for additional similar mineralization both along strike and downdip.  Historical underground drill holes report a number of massive and semi-massive mineralized intercepts between and along strike of the known zones but without reported assays.  At two of these historical intercepts the latest drill holes YH21-13 and 14 have confirmed significant VMS mineralization.  Thus, the Phase 2 program will include both delineation and exploration drilling.

In addition to the Phase 2 drilling program exploration work on the property has also included re-locating the No. 4 Brook adit and massive sulphide showing situated approximately 1 km from the current drilling on the eastern limb of the folded volcanic sequence which hosts known VMS mineralization.  On October 16th several field personnel visited the site and reported approximately 15 m of massive and semi-massive sulphide mineralization, including pyrite, chalcopyrite and sphalerite, in a sheared zone near the sloughed-in adit.  This showing is currently accessible via a cut trail but will require upgrading for ATV and drill rig access.  A field crew is currently cutting channel samples across the visible mineralization with shipping and analysis to follow.  This showing is scheduled to be drill tested in early 2022.

Consulting mining engineers of Gemtec, based in St Johns, have been commissioned to apply for permitting approval to enter the 400 Level adit, and in the meantime the Company is investigating the use of a lidar drone to survey the adit this year.

The following figures show the proposed locations of the Phase 2 diamond drilling on the York Harbour property.  The red coloured and hatched bodies in Figures 2 and 3 are the two-dimensional, surface-projected images of the drill-indicated VMS mineralization.  The purple hatched body is the surface projection of the 400 Level adit.


Click Image To View Full Size

 

Figure 1: Plan View of Proposed Phase 2 Diamond Drilling Program, York Harbour Property

 


Click Image To View Full Size

 

Figure 2: Plan View of North Section of Proposed Phase 2 Diamond Drilling Program


Click Image To View Full Size

 

Figure 3: Plan View of South Section of Proposed Phase 2 Diamond Drilling Program

 

About the York Harbour Mine Property

 

The York Harbour Mine Property is located approximately 27 kilometres west of Corner Brook, NL and known to be prospective for its copper-zinc-silver-gold-cobalt massive sulphide deposits. The known mineralization exhibits characteristics consistent with classic mafic-type flow dominated (Cyprus-type) VMS deposits. Similar geological environments and styles of mineralization have formed relatively large copper-zinc deposits elsewhere in Newfoundland at Tilt Cove (9 Mt of between 1% and 12% copper) and in Cyprus at the Mavrovouni mine (15 Mt of 4% copper with zinc and gold); as noted in Messina Minerals Inc. 9th Year Assessment Report (2009).

 

Copper and zinc massive sulphides were first discovered at York Harbour in 1893. Since then a total of 2,134 metres of documented underground drifting and development have been completed for which documentation is available.  Drill core logs and sampling data is available for a total of 19,323 metres of historical drilling that tested eleven lenses or zones of copper-zinc-silver-gold-cobalt massive sulphide mineralization. These zones occur over a 600-metre strike length and many remain open for expansion both along strike and downdip.

 

Most historical exploration and underground development have been concentrated within a 350- metre long segment of a stratigraphic contact between lower and upper basaltic units, and within 150 metres of surface. An overturned synclinal fold is interpreted to extend and repeat the favourable mineralized horizon along the western portion of the property where surface prospects at the No. 4 Brook showing of copper- and zinc-bearing massive sulphides have been discovered and documented in outcrop but have received very little modern exploration attention.

 

J.D. Blanchflower, P. Geo. is a qualified person in accordance with National Instrument 43-101 who has reviewed and accepted the technical material contained in this news release.

 

For further information:

 

Andrew Lee CEO, President and Director

Telephone: 778-302-2257 | Email: [email protected]

Website: www.phoenixgoldresources.ca

 

Cautionary Statement Regarding Forward-Looking Information

 

This news release may contain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein include but are not limited to statements relating to satisfactory completion of due diligence and any acquisition under the Option and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

 

Copyright (c) 2021 TheNewswire – All rights reserved.

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