After Months Without Assays, Bonanza Results are Flowing in
This year has been one of those years where everything changes. We have a pending civil war/revolution starting with riots in hundreds of cities. We have a pandemic what the “Experts” claim is the deadliest since the Black Plague and the front line doctors maintain has been over since June.
For what many are calling the most important presidential election since 1860 we have two of the worst and most unqualified candidates in US history. If we are listening to leaders, count me out.
The mainstream media has become The Ministry of Truth spouting a constant flow of propaganda from the Deep State during what so far has been a four-year coup d’état against a sitting president. The nominal election takes place in two weeks with both sides suggesting the election is just the start of the battle to pick the next Emperor and will continue for many months.
It’s a great time to own gold. Or to own silver. Or to own resource stocks. With one tiny fly in the ointment.
Yes, with much higher prices for silver and a new all time high for gold in USD, investors hurled money into the resource sector. And granted, the mining companies have found and are advancing some great and worthy projects. Alas, all that success in raising and spending money caught the assay labs off side. Assays that once took a couple of weeks were sitting and gathering dust months after being submitted much to the frustration of geos, company management and investors demanding action.
But the last ten days or so has brought a ton of assays being released. Frankly they verge on brilliant in many cases.
I’ve written about White Gold a number of times. Go back and reread my last piece, it covers about everything you need to know about the company and why you should own it.
A week ago White Gold released bonanza grade results of 8.69 g/t gold over 12.3 meters and 17.4 g/t Au over 3.47 meters from 6 drill holes all of which intersected high grade gold. The company already has almost 2 million ounces of gold in a 43-101 on other nearby projects. Kinross and Agnico Eagle are large shareholders.
White Gold has some of the cheapest ounces of gold in Canada that go unrecognized because they have so many good projects in their stable.
I did a piece on Benchmark Metals as little as 6 weeks ago as they announced the intention to double their 50,000-meter drill program for 2020 to 100,000 meters. Results are flowing in. Investors seem to like the story and the shares are up three fold since June.
In late September Benchmark announced closing a $50.3 million private placement so they are well positioned for major drilling. Some results came in two weeks ago. Those initial results included 3.39 g/t gold equivalent over 30.63 meters and 45.86 meters of 1.55 gold equivalent. As of early October the company had finished 60,000 meters of the planned 100,000 meter 2020 program. They followed up that assay with 41.94 meters of 2.82 AuEq in results announced on October 20th.
I first wrote about Aztec Minerals in early June. Aztec has a CRD joint venture project just outside Tombstone, Arizona. They are in the process of earning a 75% interest in the property. They have just released excellent results including 6.18-g/t gold and 77.2-g/t Ag over 15.14 meters.
Enduro Metal’s Newmont Lake project is located in the heart of the Golden Triangle in northern BC. They have an option to pick up 100% of the project. Terms included $1 million already paid, an additional $1 million by Feb 22 of 2022. They have issued 4 million shares to Romios Gold and will need to issue another 4 million in Feb of 2021 and 4 million more in Feb of 2022. And there is a 2% NSR on the property. Should they issue a 43-101 with over 1 million ounces of gold, they will need to fork over another 2 million shares.
As of the end of September, Enduro reported completion of just over 3,600 meters of drilling and lots of soil samples. Assays are coming back and they are brilliant. On October 21 Enduro reported a blistering 8.85 meters of 31.09 g/t Au and 1.07% Cu. Seeing the visible gold within the core, management opted to do a rush assay on this hole however there are an additional 16 holes yet to be reported from the 2020 program at Newmont Lake. Winter has come to Northern BC and the drill crews have returned home for the season.
I mentioned Blue Lagoon Resources just a week ago but they continue to come out with great numbers. In a press release not even on their site yet but that came out on Oct 21, they reported values of 34.5 g/t gold and 54 g/t Ag over 1.53 meters as well as 41.86 g/t gold and 250.72 g/t Ag over 1.32 meters and 15.02 g/t Au with 101.53 g/t silver over 1.71 meters and 20.6 g/t Au and 108 g/t silver over 1.24 meters. I do wish they would keep their website up to date. It would help their investors a lot.
Each of these companies is an advertiser. I have participated in private placements with each of them and purchased shares in the open market. Naturally I am biased, do your own due diligence.
White Gold Corp
Benchmark Metals Inc
Blue Lagoon Resources