Rocks And Stocks News Report On Press Releases Of Interest
In this report we discuss news from i-80 Gold, Benton Resources, Delta Resources and Generation Mining.
Gold took another run at $2000 today. There have been several of these moves this year since April. It has been a stubborn hurdle, but it looks inevitable that it will be passed in a significant way. I'm hopeful this could be the one as it is just what the doctor ordered for the poor sentiment toward mining, exploration and development.
Below are a group of companies I follow closely that had news out over the past couple of days that I would like to highlight for readers. I have only taken portions from the news and added some of my own observations. You will find links to the news releases for additional information.
i-80 Gold
The news was from their Cove project, it is one of three world class projects they are advancing toward production. The other two are Granite Creek and Ruby Hill, with all three located in Nevada.
The results are from underground drilling at the Cove project. The highlight holes returned 25.4 g/t gold over 20.1 metres, 28.0 g/t gold over 10.4 metres and 21.0 g/t gold over 10.8 m.
These are not isolated hits, the deposit has plenty like this with a resource of nearly 1.5 million ounces of gold and an average grade of around 12 g/t gold. Thicknesses and grades like this in a growing resource are not easy to find anywhere in the world, it is in Nevada, which is considered one of the best jurisdictions worldwide for mining.
This drilling is designed to test the western-most extremity of the deposit before moving to the east into the heart of the deposit.
The image below shows the historical mine pit, and the access tunnel built for drilling off the deposit. This gives them plenty of drill stations to drill it with the density to help plan building a mine.
As I look at the holes completed and planned it reminds me of something I’ve talked to their CEO Ewan Downie about in the past. He mentioned how some mines can fail because they haven’t been drilled enough to understand the grade distribution and other factors. As you can see, they are planning to aggressively drill to make sure they know what they are doing when they advance Cove to a mine.
Another important part of the image above is that you can see in burgundy the known zones in the current resource and the new holes that will add confidence to the resource and expand on it.
In the news release, Ewan Downie does a great job putting the project into perspective in this quote. “Results continue to confirm that the Cove deposit is one of North America’s highest-grade gold deposits.”, stated Ewan Downie, CEO of i-80 Gold. “These results, when combined with previously released results, highlight Cove as a Tier 1 Nevada deposit. Mineralization remains open for expansion and significant exploration targets exist on the large land package.”
This link will take you to their website where you will find the entire news release. We recommend you click on the link to read the entire news release, and while on their website take the chance to do additional research on i-80 Gold.
Ewan Downie has been very generous with his time and makes it a point to come on our shows to further discuss news they put out. We are working to arrange an interview to discuss this news further.
I-80 Gold is a current sponsor at Rocks And Stocks News.
Benton Resources
Benton is a new pick that we recently started covering due to their impressive copper project in Newfoundland, Canada. The headline is a good indicator of the potential of this project, “BENTON DRILLS 26.87M OF 7.18% CU, INCLUDING 10.28M OF 11.16% CU AT GREAT BURNT.”
They are in the very early days of exploring the project and off to a heck of a start. The quote in the news release helps folks understand their excitement for what they are drilling into.
President and CEO Stephen Stares states “The Great Burnt drilling is delivering exceptional results in grades and thicknesses. It is extremely rare to have such great success so early in an inaugural program. This speaks volumes to the potential of this high-grade project. I’m truly excited about the exploration for the remaining 2023 season and moving into 2024.”
Stephen is one of the Stares Family that are award winning prospectors. They have made important discoveries in the past and it looks like they are onto another here at their Golden Burnt project.
This project was drilled in the past, in a recent interview, Stephen mentioned that the historical drilling was done with small diameter holes and that they had recovery problems. Therefore they are twinning certain holes with larger diameter holes because they felt there was a chance that the historical holes underreported the grades. So far that seems to be the case from their early drilling.
They are also drilling step out holes to further expand on the deposit. In the image below you can see where the historical holes were drilled and where Benton has drilled.
In the news release you can find here for more details, they also included a core image which nicely shows the distribution of sulphides.
As can be expected from such seasoned explorers as those leading Benton, they are doing it in a smart way with their drilling as well as regional exploration on the project.
As you can imagine Stephen Stares has been swamped since putting this news out. We are working on scheduling an interview so the audience at Rocks And Stocks News can learn more.
Delta Resources
Delta has a project just outside of Thunder Bay, Ontario that reminds me a lot of Osisko when they found their Malartic discovery. This is no small statement, and Delta has a long way to go to show it can be something special like Malartic, but it has parallels to the early exploration.
I know the Malartic mine story well because I featured Osisko in my reports from when they were early in the discovery, through them building it into one of Canada’s largest open pit mines and until they were bought out. It was an exciting story to follow.
Delta Resources has found an open pit target with handsome grades for this kind of project. Making things even more impressive is that they have also found extremely high-grade gold in the discovery. How the bulk tonnage grades and extreme high-grade are associated still remains to be understood.
Earlier today, they put out assay results in a news release with this headline “Delta Further Increases Its Gold Inventory at Delta-1 with Intercepts of 2.27 g/t over 10 Metres and 2.20 g/t over 9 Metres, in Thunder Bay, Ontario.”
Here is the quote from the news release that adds colour to what they have accomplished. André Tessier, President and CEO commented: “These latest results demonstrate that the mineralization and the broader alteration/deformation corridor are still open in all directions. With all the phase two drilling results now in-hand, we are continuing to integrate and model all of this new geological and assay data to better our understanding of the structural controls and geometry, as well as the geochemical and geophysical signatures of the mineralized zone. We are looking forward to the 2024 drilling program, which we strongly believe will benefit from the technical and targeting work currently being undertaken.”
The image below helps to understand what the drilling so far has outlined.
Please visit their website for the news release as it has plenty more details about their recent drilling.
We will work to arrange an interview with their CEO Andre Tessier to dig deeper into the news.
Delta Resources is a current sponsor at Rocks And Stocks News.
Generation Mining
Earlier today, Generation mining announced that they have closed a CAD $15 million bought deal financing. Management participated, and they had a CAD $5 million lead order from Wheaton Precious Metals.
Please see the news release here for more details about this financing.
We picked the company because they have a development stage palladium-copper project, right outside the town of Marathon, Ontario. They are moving through the development stage of the Lassonde Curve.
They have a 100% owned large deposit with a completed feasibility study, and key permits already in place. They also have project financing secured with Wheaton Precious Metals.
If you click on the link above to the news release, another important document for you to do your homework on the company is their corporate presentation. It has plenty of details about the project and their plans to turn it into a mine.
We will work on scheduling an interview with their CEO Jamie Levy to further discuss their recent news.
Generation Mining is a current sponsor at Rocks And Stocks News.
All the best,
Allan Barry Laboucan
Rocks And Stocks News does not make buying or selling recommendations. The reports are for information purposes only. Sponsors pay a fee to Rocks And Stocks News for content creation. This funding helps cover the costs of research and reporting on the sponsors and picks that aren’t sponsors. Before making any investment decision it is important for you to speak with your financial advisors to consider your risk profile. It is also important to do your homework. To help in that process, Rocks And Stocks News means to be a gateway by doing reports and interviews of management of sponsors and picks. The reports and interviews should not be considered investment advice. Allan Barry Laboucan is the founder and owner of Rocks And Stocks News, he has worked in the mining sector since 1993 and has been reporting on the sector since 2005. He has worked with and been mentored by very talented geoscientists in geology, geochemistry and geophysics. He uses the skills he has picked up during his career to assess sponsors and picks in the reports. Whether a company is a pick or a sponsor they go through the same filter and are reported on when important news is made that Allan Barry Laboucan wants to discuss on the Rocks And Stocks News platform. He may own shares in sponsors and picks for investment purposes.