K92 Exploration Update from Kainantu Gold Mine
After a week visiting projects in Canada's Yukon Territory, your daily rundown of Junior Mining news has returned. Let's get underway. You're listening to Mining Stock Daily.
Good day everybody. Welcome to Mining Stock Daily. This is Trevor Hall, your host and today is Monday July 22nd. Before we get started, I just wanted to publicly thank the Yukon Mining Alliance for welcoming me and many others to the Yukon Mining Investment Conference. They put on an incredible week of site tours, networking and one-to-ones. I am certainly very grateful to participate. We have a lot of content to share with you from this trip in the weeks to come.
While the price of gold continued to defy all attempts at price control by the Comex bouillon banks and moved higher again every day last week, the price of silver played catch up with gold as a sword $1 or 6.5% last week. The silver mining and exploration stocks staged a breathtaking rally with many of them moving 20-30%. The Mining Stock Journal commented that it had not seen price action in the mining stocks like this since the 2002-2003 era and in late 2008.
Today's briefing is brought to you by Western Copper and Gold. Western Copper and Gold is focused on developing the World Class Casino Project in Canada's Yukon Territory. The Casino Project consists of an impressive 10 billion pounds of copper and 18 million ounces of gold in an overall resource. Western Copper and Gold trades on the TSX and NYSE American with the symbol WRN. Be sure to follow the company via their website at westerncopperandgold.com.
Here's what else you need to know this morning out of the mining sector. K92 Mining reported results of 11 underground and surface drill holes at the Kora North Extension of the Kainantu gold mine in Papua New Guinea. The results included the first hole drilled from surface into the zone between Kora North and Kora, as well as multiple holes below the known Kora North deposit. Highlights from the drill results included 6.7m of 120.6 g/t gold while another hole assayed 5.46m of 52.68 g/t gold. There are currently five drill rigs on site for this year's exploration program. A full list of the drill results can be found at K92mining.com. The company trades on TSX Venture with KNT and on the OTC markets with KNTNF.
Bravada Gold announced it closed its final tranche of its previously announced non-brokered private placement for total gross proceeds from all tranches of $900,000 to the issuance of over 12 million shares of the company at a price of $0.07 per unit. The original $700,000 offering previously announced in April was oversubscribed and with the approval of TSX Venture Exchange, was it was increased to a maximum of $900,000. The Mining Stock Journal commented that Bravada is an intriguing high-risk high-reward play with two highly promising gold projects in Nevada, one of which is advancing jointly with OceanaGold. The newsletter noted that the current share price does not reflect the upside optionality embedded in both projects. Bravada Gold trades on the Venture Exchange with BVA and on the OTC markets with BGAVF.
Bontonerra Resources announced drill results from its ongoing exploration campaign at the Gladiator and Barry Projects. Results announced today were from step-out drilling which intersected mineralized zones situated outside of the known mineral resources on both projects. Mineralization at Gladiator has been extended to a depth of 50m with results of 3m of 18.5 g/t gold and 3m of 14 g/t gold. Drilling at Barry focused on the extension of the H1 Zone on the western limit of the deposit with the intersection of 2.9m of 11.6 g/t gold. The zone has been extended by more than 100m. Bonterra trades on the TSX Venture with BTR and on the OTC markets with BONXF.
Galantas Gold Corp reported progress at the Omagh gold mine in Northern Ireland. An access drive on the fourth level has intersected the Kearney vein ahead of schedule. The intersection shows strongly developed mineralization. The north and south faces of the vein were channel sampled. The average of the two channels were 8.35 g/t gold over an average true width of 2.65m. The vein intersection is expected to allow in-vein development both north and south on the fourth level. Development on the fourth level is anticipated to produce increased feed tonnage to the processing plant, which produces a concentrate sold under an off-take contract. Galantas trades on the TSX Venture with the symbol GAL and on the OTC markets with GALTF.
That wraps things up here today on the show. Thank you for tuning in. Mining Stock Daily is produced by Clear Creek Digital and Investment Research Dynamics' Mining Stock Journal. In its latest issue released Thursday July 18th, The Mining Stock Journal reviewed Minera Alamos in-depth. The issue also included in-depth updates from U.S. Gold, Brixton Metals, Gold Standard Ventures and New Gold. For a subscription to The Journal please visit InvestmentResearchDynamics.com.
Take care. Thanks for tuning in. We'll talk to you again tomorrow. Be well.
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