Gerardo del Real, a specialist in development-stage junior mining stocks, looks at recent developments at two of his favorite speculative mines in his latest Resource Stock Digest Premium.
On April 3, 2017 Almaden Minerals (Toronto: AMM)(NYSE: AAU) released its long awaited Pre-Feasibility Study (PFS). As expected the numbers were fantastic.
And also as expected the market is now in a rush to buy shares. Hold your shares, they’re going higher. I suspect that the companies that were looking at buying Almaden are now on the clock and there’s speculation that several companies are visiting or will be visiting Almaden soon.
NewCastle Gold (Toronto: NCA)(OTC: CTMQF), another core holding in the RSDP portfolio, also released some blockbuster numbers.
Hole CMM-195 intersected 31.19 g/t Au over 29.0 metres. CMM-195 also intersected a new zone of gold mineralization at depth with 2.26 g/t Au over 126.5 meters.
This new discovery, the Footwall Zone (“FW Zone”), is located within the underlying footwall sequence of OB-2, and for the first time the host rock is dominated by the underlying andesite volcanic flows, which are located below the felsic volcanoclastic sequence.
The Phase II definition and exploration drill program is now complete with 44,500 meters of core and RC drilling as of March 31, 2017.
An additional follow-up drill program is starting immediately with the focus on both the OB-2 sub-vertical structure and the FW Zone outside the current pit limit.
We’re now up 86% on NewCastle and 30% on Almaden. Both are going higher.
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