Tag: Basic Materials

Labrador Gold Corp. (NKOSF) – Drilling Yields High-Grade Intercepts at Pristine

Posted on by cpereira@noblefcm.com


Thursday, August 10, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Drilling program affirms prospectivity of the Appleton Fault. Drilling at Labrador Gold’s 100%-owned Kingsway gold project continues to target the Appleton Fault over a 12-kilometer strike length. The drilling is part of the company’s ongoing 100,000-meter diamond drilling program of which 83,000 meters of drilling has been completed. Assays are pending for samples from approximately 8,877 meters of core. Most of the drilling to date has occurred at the Big Vein target where recent drilling returned 1.10 grams of gold per tonne over 9.3 meters, including 1.49 grams of gold per tonne over 5.3 meters in Hole K-23-246 and 1.47 grams of gold per tonne over 6.55 meters in Hole K-23-237. Drilling at Big Vein has defined gold mineralization over a 720-meter strike length.

Drilling at Pristine yields high-grade gold mineralization. Follow up drilling at the Pristine target returned an intersection of 11.98 grams of gold per tonne over six meters, including 30.61 grams of gold over 2.33 meters and 82.2 grams of gold over 0.75 meters that contained 77 grains of visible gold in Hole K-22-270. To date, mineralization discovered at Pristine occurs above 86 meters vertical depth and extends over a strike length of approximately 160 meters.


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Maple Gold Mines (MGMLF) – A Significant Discovery in the Making?

Posted on by cpereira@noblefcm.com


Friday, August 04, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Douay first phase deep drilling program. Maple Gold Mines released complete gold assay results from the first phase of deep drilling at the Douay Gold Project which is held in a 50/50 joint venture between the company and Agnico Eagle Mines Limited (NYSE: AEM). During the first half of 2023, the joint venture completed a total of 5,793 meters of drilling in three new holes and two extension holes. The deep drilling program is intended to test the potential for a much larger gold system at Douay while demonstrating continuity of mineralization beneath the currently defined mineral resource.

All five drill holes intersected gold mineralization. All five drill holes intersected gold mineralization greater than 1 gram of gold per tonne, with 10 intercepts greater than 2.5 grams of gold per tonne and several broad low-grade intervals averaging 0.1 to 0.3 grams of gold per tonne. The drilling affirmed the continuity of the gold system down to at least approximately 1,600 meters vertical depth or up to four times deeper than Douay’s currently defined mineral resources.


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Labrador Gold Corp. (NKOSF) – Extending A Winning Record; Company Webinar Planned for June 27

Posted on by cpereira@noblefcm.com


Wednesday, June 21, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Location, location, location. Drilling at Labrador Gold’s 100%-owned Kingsway gold project continues to target the Appleton Fault over a 12-kilometer strike length. The drilling is part of the company’s ongoing 100,000-meter diamond drilling program of which approximately 72,000 meters of drilling has been completed. Assays are pending for approximately 4,370 meters of core. Most of the drilling has occurred at the Big Vein target where recent drilling returned near surface gold values. Hole K-23-225 intersected 1.06 grams of gold per tonne over 9.63 meters, including 2.28 grams of gold per tonne over 2.25 meters. Hole K-23-221 returned 3.66 grams of gold per tonne over 1.04 meters.

Outstanding results at Dropkick. Highlights from initial drilling at the Dropkick target included Hole K-23-228B which returned 1.97 grams of gold per tonne over 9.45 meters, including 3.13 grams of gold per tonne over 5.45 meters and 31.86 grams of gold per tonne over 0.45 meters that contained visible gold. Hole K-23-227 intersected 1.15 grams of gold per tonne over 4.0 meters and 1.06 grams of gold per tonne over 5.27 meters. Hole K-23-224 intersected 1.74 grams of gold per tonne over 5.07 meters, including 2.72 grams of gold per tonne over 3.16 meters. The Dropkick target is approximately 3.4 kilometers northeast of Big Vein.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Labrador Gold Corp. (NKOSF) – Drilling To Resume Next Week

Posted on by cpereira@noblefcm.com


Thursday, May 25, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Hitting on all cylinders. Drilling at Labrador Gold’s 100%-owned Kingsway gold project continues to target the Appleton Fault over a 12-kilometer strike length. The drilling is part of the company’s ongoing 100,000-meter diamond drilling program of which approximately 69,000 meters are complete. Assays are pending for approximately 3,500 meters of core. Most of the drilling has occurred at the Big Vein target which has been drilled over a 722-meter northeast-southwest strike length and remains open in both directions.

Drilling to resume next week. Following the seasonal thaw, drilling is expected to resume next week at the Drop Kick target, previously known as Home Pond South, where 10 to 12 holes representing approximately 2,000 meters of drilling will be completed. Following Drop Kick, the drill could move to the Pristine target where Labrador may drill 5 or 6 holes representing approximately 1,200 meters of drilling. Following Pristine, the drill could move either to the Gap Zone between Pristine and Big Vein or to the Peter Easton target, depending on receipt of drill permits for the Gap Zone. We expect the company to operate with three drill rigs, including two rigs at Big Vein to test for extensions of the mineralization to the northeast and southwest.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Maple Gold Mines (MGMLF) – Leaving No Stones Unturned

Posted on by cpereira@noblefcm.com


Friday, May 19, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Volcanogenic massive sulfide (VMS) targets. Maple Gold Mines Ltd. revealed plans for a summer field program at the Douay and Joutel Gold Projects to explore volcanogenic massive sulfide (VMS) targets. Maple Gold is also planning VMS exploration work at its 100%-owned Morris Project approximately 30 kilometers east of the town of Matagami in Morris Township, Quebec. Morris is located approximately 30 kilometers east of the Matagami VMS mining camp and hosts the Watson Lake rhyolite unit which forms the footwall of all the VMS mines at Matagami.

Multiple styles of mineralization. Maple Gold’s 400 square kilometer land package is highly prospective for multiple styles of mineralization and the company has added technical expertise to its board and technical advisory committee to ensure the land package is fully explored for all sources of potential world class deposits. For example, the joint venture recently hired Dr. Marina Schofield, an expert in volcanology, structural geology, and VMS systems, to lead the company’s VMS exploration efforts.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

MustGrow Biologics Corp. (c) – Reports 4Q22 and FY22 Results

Posted on by cpereira@noblefcm.com


Monday, May 01, 2023

Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

4Q22 Operational Update. MustGrow released 4Q22 and full year 2022 operating results at the end of last week. As we have just provided an update on the Company following management’s webinar presentation, we will just highlight key elements of the results here.

Financial Results. Zero revenue and a loss of $1.0 million, or a loss of $0.02/sh for the fourth quarter., similar to the 4Q21 loss, although EPS loss last year was $0.03 due to fewer outstanding shares. The 4Q22 loss was about 1/2 of the 3Q22 loss due to lower stock comp expense and professional fees expense. For the full year, MustGrow reported revenue of $6,479 and a net loss of $5.6 million, or a loss of $0.11/sh, compared to a loss of $3.1 million, or a loss of $0.07/sh in 2021.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Maple Gold Mines (MGMLF) – Anticipation Builds Following First Phase of Deep Drilling at Douay and Joutel

Posted on by cpereira@noblefcm.com


Friday, April 28, 2023

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

First phase of deep drilling completed. Maple Gold announced first phase completion of deep drilling at the Douay and Joutel gold projects which are held by a 50/50 joint venture (JV) between Maple and Agnico Eagle Mines Limited. The JV completed more than 13,100 meters of drilling across both projects. Early indications from the joint venture’s first phase of deep drilling are encouraging, particularly at Telbel. At Douay, management is most excited by what has been observed in the drill core beneath the Porphyry Zone. Assay results are expected in the second quarter of 2023 and will be reported once received and interpreted.

100% success rate at Telbel. In the Telbel mine area at Joutel, the joint venture drilled a total of 7,343 meters in three master drill holes and four wedge drill holes. All Telbel drill holes intersected broad zones of semi-massive to massive sulfide mineralization. Hole TB-22-003 and its associated wedges intersected three mineralized zones and bottomed in mineralization. Importantly, upper mineralized zones intersected by the hole were well north of the main mine horizon.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Maple Gold Mines (MGMLF) – High Expectations for the 2023 Drilling Program at Eagle

Posted on by cpereira@noblefcm.com


Friday, March 17, 2023

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Eagle follow-up drill program. Drill target definition and permitting has been initiated for a planned ~5,000 meter follow-up drill program in 2023 at the company’s 100%-controlled Eagle Mine property that will test undrilled zones with significant grade and volume potential.

Targeting a broad mineralized zone. In 2022, Maple Gold completed a total of 30 drill holes representing approximately 14,500 meters of drilling at Eagle. Results to date highlight the existence of multiple sub-parallel gold horizons over a greater than 100-meter mineralized corridor beyond what was historically mined at Eagle. The immediate focus of 2023 drilling will be potential extensions of known high-grade mineralization, including areas up and down plunge of Hole EM-22-015 which returned seven intercepts over a 120-meter interval, including 10.3 grams of gold per tonne over 7.8 meters in the North Mine Horizon.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Newrange Gold (NRGOF) – Newrange to Merge with Mithril Resources to Create Pinnacle Silver & Gold Corp.

Posted on by cpereira@noblefcm.com


Tuesday, March 14, 2023

Newrange is focused on district-scale exploration for precious metals in the prolific Red Lake District of northwestern Ontario. The past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional blue-sky potential. Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Further information can be found on our website at www.newrangegold.com .

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Creating a new Americas-focused silver-gold exploration company. Newrange Gold Corp. recently executed a letter of intent with Mithril Resources Limited (ASX: MTH) to acquire 100% of Mithril in a reverse takeover (RTO). The transaction will be completed via a Scheme of Arrangement in Australia and the resulting company will be named Pinnacle Silver & Gold Corp. and will be listed on the TSX Venture exchange. Mithril will be delisted from the ASX exchange.

Flagship project. The Copalquin gold-silver project is in Durango State, Mexico and covers an entire mining district of 70 square kilometers containing several dozen historic gold and silver mines and workings. The district is within the Sierra Madre Gold-Silver Trend which extends north-south along the western side of Mexico and hosts many world-class gold and silver deposits. At the El Refugio target area, there is a historic maiden JORC-compliant mineral resource estimate highlighting indicated resources of 121,000 ounces of gold and 2,538,000 ounces of silver and inferred resources of 252,000 ounces of gold and 8,414,000 ounces of silver.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Labrador Gold Corp. (NKOSF) – Extending the Winning Streak

Posted on by cpereira@noblefcm.com


Friday, March 03, 2023

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Well-funded drilling program. Exploration and drilling at the company’s 100%-owned Kingsway gold project is targeting the Appleton Fault over a 12-kilometer strike length. With approximately C$17 million in cash and over 66,000 meters of the company’s planned 100,000-meter drill program completed, Labrador Gold has ample financial resources to fund the rest of the drill program. Assays are pending for samples from approximately 3,000 meters of core.

Favorable drill results. Recent drilling results included Hole K-22-213 from Big Vein Southwest that intersected 1.38 grams of gold per tonne over 4.15 meters from 464 meters. Hole K-22-214 from Big Vein intersected 1.19 grams of gold per tonne over 41.8 meters from 397 meters that included 2.32 grams of gold per tonne over 18.6 meters, including 61.15 grams of gold per tonne over 0.3 meters that contained visible gold.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Aurania Resources (AUIAF) – On to Something Big?

Posted on by cpereira@noblefcm.com


Thursday, March 02, 2023

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Significant epithermal system discovery. Preliminary results from three holes drilled at the Tatasham porphyry copper target revealed the discovery of a large epithermal system making Tatasham highly prospective for gold. The hydrothermal system at Tatasham is characterized by strong silicification surrounding hydrothermal breccias. While the first three holes are regarded as discovery holes of the epithermal system, additional work is needed before economic drill results can be expected.

The next Fruta del Norte? Tatasham shares similar characteristics with the Fruta del Norte gold deposit which was discovered in 2006 by Aurelian Resources which at the time was headed by Aurania’s CEO, Dr. Keith Barron. Fruta del Norte is approximately 100 kilometers to the south of Tatasham in a similar geological setting. The drilling program at Tatasham revealed silica sinter over a 2.7 kilometer strike length at surface and in drill core. Similar in character to those discovered at Fruta del Norte, zones of oxidized hydrothermal breccia were intersected below the sinter.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

LithiumBank Resources (LBNKF) – Study Underscores the District-Scale Potential of Park Place

Posted on by cpereira@noblefcm.com


Tuesday, February 28, 2023

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Park Place hydrogeological study. LithiumBank Resources released results from a hydrogeological study at its 100% owned Park Place Lithium Brine Project located 180 kilometers west of Edmonton, Alberta, and 50 kilometers south of the company’s other flagship Boardwalk lithium brine project. The hydrogeological study was completed by Matrix Solutions and will be incorporated into a NI 43-101 compliant technical report and resource estimate which is expected in the second quarter of 2023.

Surprisingly favorable results. The hydrogeological study indicates Park Place hosts a combined 76.3 cubic kilometers of lithium-bearing brine, including 49.8 cubic kilometers within the Leduc Formation and 26.5 cubic kilometers within the Swan Hills Formation. By comparison, the company’s Boardwalk projects hosts 17.1 cubic kilometers of lithium-bearing brine. As a result, Park Place may be considered the largest reported lithium-rich brine project by volume in North America held by a single operator.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Eskay Mining Corp. (ESKYF) – Closing in On the Untapped Potential of the Eskay Mining District

Posted on by cpereira@noblefcm.com


Tuesday, February 28, 2023

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Eskay VMS project. The company’s Eskay Volcanogenic Massive Sulphide (VMS) project encompasses 52,600 hectares of highly prospective property within proximity to several world class gold deposits, including the adjacent past-producing Eskay Creek Mine, a high-grade gold-silver rich VMS deposit that is considered the world’s most precious metal-rich volcanogenic massive sulfide deposit. Based on Eskay’s exploration program, a new model of the tectonic architecture of the Eskay Mining District has identified three anticlines that wholly or partially underlay Eskay Mining’s property. The company’s new model suggests the flanks of each of these three anticlines are prospective for Eskay Creek-style VMS mineralization.

Recent drill results. Eskay recently released drilling results from the 2022 program at the TV and Tarn Lake targets. Drilling returned 1.51 grams of gold per tonne and 25.39 grams of silver per tonne over 43.1 meters and 2.84 grams of gold per tonne and 22.17 grams of silver per tonne over 16.4 meters in extensional drilling at the TV deposit. Assay results from the maiden drill program at Tarn Lake have defined an 80-meter-long open-ended trend of gold mineralization that dips in a west-northwestern direction.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.