Ounces in the Ground: The Exploration Report for Aug. 29 to Sept. 1


For the week, a total of 33 Canadian-listed companies reported exploration results with 16 having a positive impact, 11 with a negative impact and 6 with no impact on the share prices of the companies.

GT Gold Corp. (TSX-V: GTT) is the big news this week.   The company reported multiple intercepts of high-grade gold from six of the first eight core holes ever drilled into the Saddle South gold discovery, including a high-grade intercept of 51.53 grams per tonne (1.5 ounces per ton) gold and 117.38 grams per tonne silver over 6.95 metres in hole TTD007, and the first visible gold has been observed in core at 109 metres in hole TTD031. Assays are pending, and photos of gold from both holes are available on the company's website.  One chatroom poster commented that it is as though the company is drilling in a jewellery store with these types of results.   

These results follow up earlier reported results of 10.67 m of 13.03 g/t Au at Tatogga when shares of the company could be purchased for 38 cents before the news.  Coupled with the most recent results, shares have surged to an all time high of $2.20 at the close on Thursday.

SolGold PLC (TSX: SOLG) published results from holes 26 and 27 from Cascabel, the company's 85-per-cent-owned copper-gold porphyry project in Ecuador.  Hole 26 assay results returned open-ended 810 metres grading 0.72 per cent copper equivalent.   Hole 27 assay results extend Alpala mineralization 100 m southeast of hole 21, and 250 m southeast of hole 16.     

The company is expanding the drilling program to 10 drill rigs by January, 2018 and has signed a second drilling contractor.  These results are growing the Alpala deposit as the company is focusing on high-grade porphyry centres at Alpala Northwest, Alpala Central and Alpala Southeast. Over 44,500 metres of drilling have been completed to date along the greater Alpala trend. Solgold is also commencing planning for the collection of necessary data to complete a prefeasibility assessment by the end of 2018.

Altamira Gold Corp. (TSX-V: ALTA) sampled  six metres of 21.74 g/t Au at Cajueiro at the Baldo East Zone in Brazil. Results are currently pending on four drill holes, which are designed to test the vertical extent of the Baldo East zone.  Three additional trenches have been developed at the Toninho claim along with three additional diamond drill holes and results are pending.  This news pushed shares up 7.5 cents to 26 cents by the end of the week.  

ATAC Resources Ltd.  (TSX-V: ATC) published on Tuesday the results of an additional four drill holes from the Conrad and Osiris zones within the Osiris project at the Rackla gold property, Yukon. Hole OS-17-238 at the Conrad zone intersects 12.50 metres of 20.78 grams per tonne gold of newly identified and near-surface mineralization.   A total of 8,300 metres of diamond drilling have been completed at the Osiris project. Two drills continue to test the Conrad, Osiris and Sunrise zones. Shares in the company went up 11 cents to 79 cents for the week.   

Denison Mines Corp. (TSX-V: DMI), a Lukas Lundin company, intersected uranium mineralization in drill hole WR-689D3 on the company's 60-per-cent-owned Wheeler River project. Preliminary radiometric-equivalent probe results (triuranium octoxide equivalent (eU3O8)) from drill hole WR-689D3 are highlighted by an interval of 5.0 per cent eU3O8 over 4.7 metres, including 8.5 per cent eU3O8 over 2.7 metres. The results did little to move the company’s share price which currently sits at 75 cents.

Garibaldi Resources Corp. (TSX-V: GGI) has intersected two long intervals of nickel-copper sulphide mineralization totalling 176 metres in the first drill hole at its 100-per-cent-owned E&L project at Nickel Mountain near Eskay Creek. The company plans to drill a second hole soon.  These results pushed shares in the company up 21 cents to close the day at 91 cents on Friday.

Other companies that reported drill results this week are (percentage of share price on the day of the press release or the next day in trading):    

Goldsource Mines Inc. (TSX-V: GXS) drills 19 m of 3.04 g/t Au at Eagle Mountain (-7.41%)

Banyan Gold Corp.(TSX-V: BYN) drills 3.1 m of 2.62 g/t Au at Aurex-McQuesten

Liberty Gold Corp. (TSX-V: LGD) drills 30.5 m of 0.69 g/t Au at Goldstrike (+1.12%)

Eastmain Resources Inc. (TSX: ER) drills 16.8 m of 5.84 g/t Au at Eau Claire

Metallis Resources Inc. (TSX-V: MTS) intersected mineralized and altered monzonite (+11.84%)

West Red Lake Gold Mines Inc. (CSE: RLG) drills 1 m of 26.19 g/t Au at Mount Jamie (-3.03%)

Benton Resources Inc. (TSX-V: BEX) drills 23 m of 0.8 g/t Au at Bedivere (-8.33%)

DNI Metals Inc. (TSX-V: DNI) drills 51 m of 6.37% Cg at Vohitsara (+8.00%)

Cornerstone Capital Resources Inc. (TSX-V: CGP) drills 0.72% CuEq over 810m at Cascabel (-1.11%)l

Superior Gold Inc. (TSX-V: SUP) drills nine m of 10.3 g/t Au at Plutonic (-1.04%)

Monarques Gold Corp.(TSX-V: MQR) drills new zone at Croinor (-3.85%)

Panoro Minerals Ltd. (TSX-V: PML) drills 39.7 m of 0.54% Cu at Cotabambas (share price moved up before release of results) (-7.69%)

Victoria Gold Corp. (TSX-V: VIT) drills 22.5 m of 2.78 g/t Au at Dublin (1.96%)

GGX Gold Corp. (TSX-V: GGX) drills 0.48 m of 24.1 g/t Au, 192 g/t Ag in B.C. (-6.90%)

Endeavour Silver Corp. (TSX: EDR) drills 3.4 m of 836 g/t AgEq in Mexico (-1.67%)

Ascot Resources Ltd. (TSX-V: AOT) drills 2.5 m of 321 g/t Au at Premier (1.67%)

Premier Gold Mines Ltd. (TSX: PG) drills 181 m of 2.14 g/t Au at Hasaga (-0.51%)

Kootenay Silver Inc. (TSX-V: KTN) drills 12 m of 121.25 g/t Ag at Cigarra

Happy Creek Minerals Ltd. (TSX-V: HPY) drills 105.5 m of 0.37% Cu at Rateria

Abraplata Resource Corp. (TSX-V: ABRA) drills five m of 348.8 g/t Ag at Diablillos (13.64%)

Barkerville Gold Mines Ltd. (TSX-V: BGM) drills 10.55 m of 14.03 g/t Au at Cariboo

Altamira Gold Corp. (TSX-V: ALTA) trenches six metres of 21.74 g/t Au at Cajueiro (24.32%)

Sierra Metals Inc. (TSX: SMT) drills 13.85 m of 498 g/t AgEq at Cusi (0.30%)

Sphinx Resources Ltd., (TSX-V: SFX) drills 7.93 m of 0.35 g/t Pd-Pt-Au at Green (20.00%)

Newcastle Gold Ltd. (TSX-: NCA) drills 179.8 m of 1.01 g/t Au at Castle (1.05%)

Metanor Resources Inc. (TSX-V: MTO) drills 8.2 m of 7.1 g/t Au at Barry (5.56%)

Aquila Resources Inc. (TSX: AQA) drills 120.2m of 1.14g/t Au, 13.18g/t Ag at Back (-3.92%)

Dolly Varden (TSX-V: DV) drills 6.72 m of 1,271.9 g/t AgEq at Dolly (13.51%)

***If you would like this data in an excel spreadsheet please email me and I would be happy to provide a copy: nicholas@miningfeeds.com

***Also, feel free to provide any information on companies, I may have missed.

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