Gold prices could push higher. In fact, “With the gold market on a bullish streak again, investors should be paying attention to the gold stocks, which have the potential to see 10X gains in this bull cycle, said Timothy Ord, president and editor of The Ord Oracle,” as noted by Kitco. "We could see $2,700 around the year 2024 just because of the timing of the rally – from the bottom in 2016 to almost $2,100-high in August 2020. That leg-up lasted four years. Then from the August high, we went down to the March lows of this year. And now, we are beginning the second half of the rally," Ord added. With gold looking attractive again, some of the top stocks to keep an eye on include TRU Precious Metals Corp.’s (TSXV:TRU) (OTCQB:TRUIF), Altius Minerals Corporation (TSX:ALS)(OTC:ATUSF), New Found Gold Corp. (TSXV:NFG)(OTC:NFGFF), Exploits Discovery Corp. (CSE:NFLD)(OTC:NFLDF), and Marathon Gold Corporation (TSX:MOZ)(OTC:MGDPF).
TRU Precious Metals Corp. (TSXV:TRU)(OTCQB:TRUIF) Just Completed Phase 1 Drill Program at 100%-Owned Twilite Gold Project in Central Newfoundland
TRU Precious Metals Corp. just announced that, further to its press releases on June 1 and June 8, 2021, the Phase 1 diamond drilling program has been completed at its 100%-owned Twilite Gold Project in Central Newfoundland. Drilling focused on a previously identified target that the Company has now dubbed the “Fort Knox Gold Zone”.
Highlights
- Phase 1 drilling has been successfully completed on time at the Fort Knox Gold Zone for a total of 2,577 meters in 12 drill holes.
- Drilling has successfully intersected the widest sections of the mineralized shear zone to date.
- Extensive mineralized quartz breccia encountered in multiple drill holes.
- Regionally significant mineralized conglomerate, akin to the Rogerson Lake Conglomerate, has been intersected in multiple holes.
- Core logging and sampling are underway with two core saws. Excellent core recoveries were achieved through mineralized zones, unlike historic drilling by former property owner Fort Knox Gold Resources.
- Receipt and evaluation of complete Phase 1 assay results are expected over approximately the next 6 to 8 weeks, with results to be publicly disclosed in batches on a rolling basis once sufficient volumes of data are available.
Drill Program Preliminary Results
Barry Greene, VP of Property Development and Director of TRU, commented: “The first phase of drilling in 2021 at Twilite Gold has gone exceptionally well. We drilled 2,577 metres of NQ core, more than initially forecast, testing several additional high-potential gold targets. We anticipate a steady flow of drill results from Twilite Gold over the coming weeks and months, with results from these holes pending.”
The drill program consisted of 12 NQ boreholes situated along a deep-seated, multi-kilometer, west-northwest trending structure (see Figure 1). The drilling focused within the Fort Knox Gold Zone, and specifically an approximately 200m strike length section of this structure near the intersection with a northeast trending mineralized structure that is also auriferous in historic drilling. Improving on historic drilling, TRU’s Phase 1 drilling has intersected an extensive shear zone containing areas of moderate to intense sericite and silica alteration and including wide areas of polyphase quartz veining and quartz breccias containing sulphide mineralization including pyrite, arsenopyrite and stibnite. The alteration and mineralization is coincident with a broad portion of the 600m long mineralized structure identified in the detailed magnetic survey completed by TRU and announced on December 8, 2020.
TRU has not verified the historical grab sample assay results contained in this press release and is not relying on them as current mineral resources or mineral reserves. Note that grab sample results are select samples and are not necessarily representative of mineralization on Twilite Gold. Readers are cautioned that these potential grades are conceptual in nature; there has been insufficient exploration by the Company or its qualified person at Twilite Gold to define a mineral resource or mineral reserve; and it is uncertain whether further exploration will result in these targets being delineated as a mineral resource or mineral reserve.
It is noteworthy that several holes intersected hematitic and silicified polylithic conglomerate, locally containing sulphide mineralization. Such polylithic conglomerate is texturally similar to, and may represent the strike extension of, the Rogerson Lake Conglomerate.
The RLC has already been mapped in proximity to Twilite Gold and is considered to be an important expression of the regionally extensive Cape Ray - Valentine Lake- Shear Zone. Regionally, the RLC (or its equivalent) is found directly associated with gold mineralization at Matador Mining’s Cape Ray deposit; Marathon Gold’s Valentine Gold deposit; and Canterra Minerals’ Wilding Lake project.
TRU Co-Founder and CEO Joel Freudman added: “We are excited to have completed TRU’s first-ever drill program, which we chose to carry out at Twilite Gold a mere seven months after acquiring the project. We are very encouraged that a promising variety of mineralization is evident in the cores, often with good continuity, which supports our belief that Twilite Gold is well-situated along the deposit-bearing Cape Ray – Valentine Lake Shear Zone. We believe that this targeted first round of drilling will indeed be the starting point to help the Company unearth the inherent value we believe exists at Twilite Gold.”
Other related developments from around the markets include:
Altius Minerals Corporation reported attributable royalty revenue of $17.8 million ($0.43 per share) for the quarter ended March 31, 2021 which was up 9% from royalty revenue of $16.3 million ($0.39 per share) reported in Q1 2020. Adjusted EBITDA for the quarter was $14.6 million or $0.35 per share, up 15% from Adjusted EBITDA of $12.7 million ($0.30 per share in Q1 2020. The adjusted EBITDA margin for the quarter was 82%. Adjusted operating cash flow of $8.8 million or $0.21 per share is down by 33% from the comparable quarter last year mainly because of the deferred timing of corporate tax installments during the prior year period.
New Found Gold Corp. provided an update concerning generative exploration results from multiple targets along the prolific Appleton Fault Zone on its 100%-owned Queensway Project, located on the Trans-Canada Highway 15km west of Gander, Newfoundland.
Queensway is host to an extensive epizonal orogenic gold system, one capable of generating very high-grade gold mineralization. To date, New Found has discovered three robust structurally controlled high-grade gold deposits: Keats, Lotto and Golden Joint. High-grade gold mineralization is typically comprised of intense quartz stockwork veining with abundant fine particles of visible gold. Although sulphide contents of such mineralization are generally very low, particles of the lead-antimony sulfosalt, boulangerite, occur ubiquitously with native gold. Lower grade gold intercepts are often encountered in the vicinity of such high-grade mineralization often occurring in altered sedimentary host rocks adjacent to quartz veins along with moderately abundant disseminated sulphides including pyrite and arsenopyrite.
Exploits Discovery Corp. announced the Company has completed its first phase of airborne VTEM geophysics across the Dog Bay, Jonathan’s Pond, Mt. Peyton, True Grit, and Middle Ridge properties, comprising 12,420 line kilometres flown – one of the largest high resolution surveys on Newfoundland to date. Early results from the data have proven the necessity for high resolution geophysics, and a second phase has been approved to cover the remaining ground at the Great Bend Project, scheduled to begin mid-July.
Marathon Gold Corporation reported results from the latest batch of exploration drill holes completed at the Valentine Gold Project, central Newfoundland. These latest results represent fire assay data from fourteen drill holes located within the 1.5 kilometre long Berry Deposit, for which the Company recently released the first mineral resource estimate. Matt Manson, President & CEO commented: “Today’s assay results represent the last batch of drill holes completed prior to our annual spring shutdown in late March. These are infill holes in the western and central areas of the Berry Deposit, and confirm again long intersections of resource grade mineralization. Our initial mineral resource estimate at Berry, based on the 42,000 metres completed to the end of November 2020, is 0.64 Moz of Inferred Mineral Resources in 11.33 Mt at 1.75 g/t Au. Our drilling at Berry is now directed towards expanding and upgrading this estimate along the full 1.5 kilometre length of the deposit and below the conceptual pit shells used in the estimate, which are relatively shallow at 200 metres deep. With the recently announced additional 50,000 metres of Berry drilling, we expect to have a total of approximately 120,000 metres completed by the summer of 2022. Exploration drilling has now resumed after the spring break and will continue to the end of the year.”
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. TRU Precious Metals Corp. has paid three thousand five hundred dollars for advertising and marketing services to be distributed by Winning Media. Winning Media is only compensated for its services in the form of cash-based compensation. Winning Media owns ZERO shares of TRU Precious Metals Corp. Please click here for full disclaimer.
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