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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: LoneClone1/25/2022 2:50:38 PM
1 Recommendation

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I missed a PR from Endeavour Mining aka EDV last week about their exploration results from 2021. Exploration is one of the linchpins of EDV's success; the hard targets they set allow them to more than replace resources mined while discovering new deposits they can turn into mines. Last year was an outstanding success in that regard, as they 'discovered' -- sometimes it is just turning inferred ounces into M&I -- more than 3M M&I oz Au , smashing their target of 2.1M oz. They did also delineate 900k oz Au in the Inferred category.

Notably, in 2021 M&I resources at their main mines increased by 11-26% even after depletion. Overall, this year's results marked the successful completion of a 5-year plan to find 10-15 M&I resources. They recently announced a new 5-year plan to find 15-20M Indicated ounces; I wouldn't bet against them.

Message 33677074

Teuton Resources aka TUO brought us news from their JV with DEC on the Del Norte polymetallic (but mainly Au & Ag) prospect in B.C.'s Golden Triangle. These are the assays from the last 8 holes drilled in 2021 from rock islands within a glacier, and were successful in extending the Argo/LG zone -- headline intersections of 60.5 g/t Au and 660 g/t Ag over 3.60M in DDH-21-12 and 11.7 g/t Au and 3,074 g/t Ag over 2.29M in DDH-21-15 -- to over 1.2 km strike length, with more due to be uncovered as glaciers melt. As well, exploration has uncovered a number of other Au/Ag zones for further exploration. DEC, which can earn up to 75% of the property, also said they were planning to look for a deep porphyry in 2022.

Message 33677121

TUO also brought us news from their JV with OPT.V on the nearby Old Harry prospect. This was OPt's first season operating the JV, and the sample assays received so far indicate not only the discovery of a new gold zone, but also a porphyry similar to that which hosts a nearby gold deposit. OPT was very eager to acquire the option, so I expect them to go all out on the announced programme of more mapping and sampling and geophysics when exploration resumes in the spring.

Message 33677152

FWIW, in the wake of yesterday's quarterlies, Barclays rated Oceanagold aka OGC at Equal Weight with a target of $2.50. Meanwhile, BMO kept OGC at Outperform with a target of $3.25.
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