• Zinc Explorer Finally Hits; How Big Can the Resource Get?

    Zinc Explorer Finally Hits; How Big Can the Resource Get?

    Source: The Critical Investor for Streetwise Reports 12/09/2017 The Critical Investor provides an update on this zinc explorer's latest drill results.Ayawilca project; drilling location After several attempts in vain, it seems like Tinka Resources has finally found what it was looking for: mineralization on the highly anticipated target Zone 3. Drilling in Zone 3 isn't easy as the terrain in this area is steep, and the drilling itself took longer than usual, causing earlier hole 091 to be abandoned after no less than six weeks of drilling it. The rig was also badly needed for resource drilling at the time, so it was of better use elsewhere (South Ayawilca). Notwithstanding this, CEO Graham Carman didn't forget the significant green alteration appearing at the very end of the drill core of another abandoned drill hole in Zone 3, hole 081, caused by chlorite, which is a strong indicator mineral for zinc. He needed a definitive answer from Zone 3, and deepened hole 091 another 145 meters. This time he and his crew had more luck and finally hit economic grade mineralization. What this could mean for the resource will be explained in this update. All presented tables are my own material, unless stated otherwise. All pictures are company material, unless stated otherwise. All currencies are in U.S. dollars, unless stated otherwise. Please note: the views, opinions, estimates or forecasts regarding Tinka's performance are those of the author alone and do not represent opinions, forecasts or predictions of Tinka or Tinka's management. Tinka has not in any way endorsed the information, conclusions or recommendations provided by the author. Things are getting interesting again for Tinka on the exploration front, after the company outlined the resource on South Ayawilca and updated the total Ayawilca resource estimate to 42.7Mt @7.3% ZnEq on a US$55/t cut-off (about 3.6% ZnEq cut-off grade). As Zone 3 is a large target, and mineralization is abundantly found at Ayawilca, I wasn't too concerned about the first misses. The current resource already indicates a pretty economic and sizable project, but investors (and management) were hoping for more, which might have been one of the reasons the share price didn't hold on to higher levels as much as anticipated after the resource update on November 8:
  • 'Prospective Explorer' Working Toward Maiden Resource

    'Prospective Explorer' Working Toward Maiden Resource

    Source: Streetwise Reports 12/07/2017 Cormark Securities provided an update on this company's gold project in central Wyoming. In a Nov. 15 research note, Tyron Breytenbach, an analyst with Cormark Securities Inc., reported that GFG Resources Inc. (GFG:TSX.V; GFGSF:OTCQB) has identified, via drilling, new areas of mineralization at its Rattlesnake Hills project. GFG expanded the North Stock target "by 100 meters (100m) to the west, drilling 0.95 grams per ton gold over 22.9m outside of the previous mineralization footprint," indicated Breytenbach. Drilling of the Middle Ground target, the brownfields area between North Stock and Antelope Basin, "continues to return economic mineralization," he added. By connecting those two targets, if possible, GFG could extend the overall mineralized strike length to 1.1 kilometers. As for the overall size of the resource at Rattlesnake Hills, Cormark estimated it to be an open-pittable 2 million ounces based on results from the 80,000m of historical drilling and from this year's 43-hole, 15,000m drill program. As for near-term upcoming catalysts, GFG will announce the remaining outstanding drill results. "We expect a steady flow of news into the final months of 2017," Breytenbach wrote. Subsequently, the mining firm is expected to release a maiden resource estimate for Rattlesnake Hills in H1/18, "which will set a baseline valuation for this early-stage but prospective explorer," added the analyst. Because "valuations across the sector are down," Breytenbach explained, Cormark lowered its enterprise value per ounce estimate on Rattlesnake Hills to $35/ounce from $40/ounce and, consequently, its target price on GFG to CA$1.70/share from CA$2.10/share. GFG Resources' shares are currently trading at around $0.50. Cormark has a Buy recommendation on the corporation. Want to read more Gold Report articles like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page. Disclosure: 1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None. 2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: GFG Resources. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. 3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. 4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented ...read more
  • A Gold Explorer's Productive November Has Analysts Saying 'Buy'

    A Gold Explorer's Productive November Has Analysts Saying 'Buy'

    Source: Streetwise Reports 12/07/2017 Multiple projects are showing positive and possible expansions for this gold miner.On Nov. 20, Klondex Mines Ltd. (KDX:TSX; KLDX:NYSE.MKT) announced initial results from its Hatter Graben zone and recovery of Hollister ore at Midas Mill. The company highlighted a couple of key points: Assays were received for the first five surface core holes at Hatter Graben. These are the first assays from an 11-hole drill program that was designed to infill drilling completed during 2008. The intent of this drill program is to develop an initial inferred resource at Hatter Graben. Mineralization at Hatter Graben remains open in all directions. Drilling continues and is scheduled to be completed in early December. After which the company expects to receive final assays from the remaining six core holes by year-end. Brian Morris, Klondex's senior vice president, exploration, said, "I am extremely encouraged by the initial results from our first five holes at Hatter Graben. The most optimal drill sites are now fully permitted and drilling is ongoing from these locations. We are infilling and stepping to the east in the most desirable elevations where we fully expect robust results." Analyst Philip Ker with PI Financial stated in a Nov. 21 report that the "Hatter Graben target presents significant opportunity for Klondex to expand the Hollister mine and resource base in the future." He explained that "management also reaffirmed the Hatter Graben displays less clay content than the main mineralized zone at Hollister resulting in more competent rock. The increased competency, steep dip of veins and increased vertical extent suggest that Hatter Graben is suitable to less dilutive mining techniques such as long-hole stoping." Ker concluded, "Our TOP PICK and BUY rating remains unchanged. We continue to derive our CA$4.85 target price with a 1.0x NAVPS multiple. In a Nov. 15 announcement Klondex Mines updated its Fire Creek Mine exploration project. A few of the key points are: Three surface drill holes totaling 4,171 ft (1,271 m) have been completed to-date on the Zeus target. Drilling to-date has delineated a mineralized area within the structure approximately 650 ft (198 m) in length and 400 ft (122 m) vertically, within 400 ft (122 m) of surface and is open in all directions. Additional follow up holes are in progress to continue to expand and infill this significant high grade mineralization. The up-dip underground drilling above the veins currently in production has returned significant assay results along a strike of 275 ft (84 m) and up-dip by 100 ft (31 m). The down-dip underground drilling below the Karen vein has returned significant assay results along a strike of 150 ft (46 m) and down-dip by 75 ft (23 m). "The surface drill results are extremely exciting," Klondex's Morris stated. "These results demonstrate that the potential for high grade mineralization, similar to what is currently being mined at Fire Creek, exists within the Zeus structure about 4,000 feet northwest from our ...read more
  • Two 100%-Owned Projects Have Analysts Talking About a Possible 'JV Partnership Offer'

    Two 100%-Owned Projects Have Analysts Talking About a Possible 'JV Partnership Offer'

    Source: Streetwise Reports 12/07/2017 With an advanced project being looked at by potential partners and a newer project producing precious metal results, several analysts rate this precious metals explorer a "Buy." In a Nov. 21 announcement,Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) confirmed the completion of its first exploration program on the Quartz Rise target in its 100%-owned Iskut Project in northwestern British Columbia. Seabridge Gold explained that "this year's drilling found evidence of a gold-bearing intermediate sulfidation epithermal system beneath the Quartz Rise lithocap as anticipated. Intercepts included 1.5 meters grading 8.26 g/T gold in QR-17-01 and 1.5 meters grading 74.1 g/T gold in QR-17-07. Sampling of a cliff face north of Quartz Rise returned very high grades ranging from 1.49 to 125.3 g/T gold." Rudi Fronk, Seabridge's chairman and CEO, commented, "In our first program at Quartz Rise, our exploration team has successfully found the right environment for a high-grade epithermal gold deposit. The system at Quartz Rise has all the earmarks we were looking for and we think we have enhanced the potential for a significant discovery. . .Iskut's similarities with KSM are persuasive and this knowledge should help us zero in on the potential at Quartz Rise." In a Nov. 21 report, Canaccord Genuity analyst Tony Lesiak stated that "while the 2017 initial 10 hole drill program on the Quartz Rise target at Iskut did not fully live up to our, perhaps, overly optimistic expectations, the results did achieve their primary goal; to provide evidence of a gold bearing epithermal system." He continued by pointing out that Canaccord "could hardly be faulted for the initial and continued enthusiasm given Iskut's proximity to KSM (+100Moz resource) and the associated high-grade (VOK at +17g/t) Brucejack deposit (~14Mozs), the location of previous high- grade gold operations at nearby Johnny Mountain and Snip and the existing 2.2Mozs Bronson Slope deposit, and the interpretation that the mineralizing system at Quartz Rise was fully intact, unlike KSM." Lesiak noted that "the drilling, surface sampling and a subsequent IP survey have defined a potentially more favourable secondary structural orientation that may preferentially localize high grade gold; an orientation that will be followed up with the 2018 program." Canaccord maintains a Speculative Buy rating on Seabridge with a target price of CA$29.00. Analyst Mike Kozak with Cantor Fitzgerald also followed Seabridge Gold's announcement, highlighting both Iksut and KSM in a Nov. 21 report. Kozak stated that "while we regard the results from this initial [Iskut] program as sub-economic at present, it is important to note that this project is still very early days, and results are encouraging, suggestive of a potentially gold-rich epithermal system." Kozak also discussed the much more advanced KSM project. "We believe a number of top-tier base metal and gold miners are lining up to offer JV terms to Seabridge on KSM. Based on management commentary, we are pushing this event to April/May next ...read more
  • Will 2+2=8 For Columbus Gold?

    Will 2+2=8 For Columbus Gold?

    Source: Bob Moriarty for Streetwise Reports 12/05/2017 Bob Moriarty of 321 Gold discusses why he believes a spinout could be a win for investors.I wrote recently about Columbus Gold Corp. (CGT:TSX; CBGDF:OTCQX) in October. The company owns 45% of a gold project in French Guiana with 2.75 million ounces in proven and probable reserves, not resources, reserves. With a market cap today of about $97 million US that values their 1.23 million ounces at about $79 an ounce. That's really cheap for a project that shows a plan for producing 237,000 ounces of gold a year. Someone will take them out and this project is going to go into production. Columbus Gold's partner in South America is Nordgold, a Russian company. Naturally the Russians don't want any part of U.S. assets so the 14 other projects owned by Columbus Gold are not only not giving any value, if anything they are a drag on the company. It's something I have talked to the company about for years, how to monetize their other very real assets. Their Eastside gold project in Nevada discovered by Andy Wallace already holds a 721,000-ounce gold resource in addition to a 272,000-ounce historic resource. Their 100% owned Bolo Gold project in Nevada had a 2800-meter drill program conducted in August of 2017. The company has just sent 1900 samples off for assay and expects results to be released early in January. Columbus Gold shareholders voted overwhelmingly in November to approve a spinout of the 14 non-core assets into a new company that will be named Allegiant. Columbus received approval for the spinout from the Supreme Court of BC on the 4th of December. Existing shareholders of Columbus Gold on December 11 will receive a 20% distribution of their current CGT-T shares. If you own 10,000 CGT-T shares on the 11th, you will automatically get 2000 shares in Allegiant. This is a really easy call. Columbus Gold is currently getting nothing for the fourteen 100% owned non-core assets even though they are coming out of the chute with about 1 million ounces at Eastside with a current value of exactly zero. Doing the spinout is going to monetize those 14 assets. They have to be worth something. The only real issue I see is the question of what 2+2 equals. I know it's going to be more than four and should the assays from Bolo come up trumps, Allegiant shareholders could be treated to a post Xmas gift. Columbus Gold will still own 13% of Allegiant so they have a vested interest as well. Columbus Gold is not an advertiser. Allegiant has indicated they will be an advertiser. I bought shares in the open market that I intend to hold through the record date and I am participating in the private placement for Allegiant. Do your own due diligence. Columbus Gold CGT-T $.82 (Dec 05, 2017) CBGDF-OTCBB 153 million shares Columbus Gold ...read more
  • Jack Chan's Weekly Precious Metals Report Also Charts Big Moves for Gold Major

    Jack Chan's Weekly Precious Metals Report Also Charts Big Moves for Gold Major

    Source: Jack Chan for Streetwise Reports 12/04/2017 Technical analyst Jack Chan charts the latest moves in the gold and silver markets, as well as the one-day fluctuations of a gold major.Our proprietary cycle indicator is down. The gold sector is on a long-term buy signal. Long-term signals can last for months and years and are more suitable for investors holding for long term. Gold sector is on a short term buy signal. Short term signals can last for days and weeks, and are more suitable for traders. Speculation favors overall higher gold prices. Gold stocks relative to gold is at the same oversold level as Dec 2016. Barrick Gold Corp. (ABX:TSX; ABX:NYSE), a major component in the gold stock indices and ETFs, gapped down on heavy volume on Nov. 30 but closed the day with a doji, suggesting price exhaustion. A pullback on the dollar is supportive for the metals. Silver is on a long-term buy signal. SLV is on a short-term sell signal, and short-term signals can last for days to weeks, more suitable for traders. Speculation favors overall higher silver prices. Summary The precious metals sector is on major buy signal. The cycle is down, as the multimonth consolidation continues. COT data is supportive for overall higher metal prices. We are holding gold-related ETFs for long-term gain. Jack Chan is the editor of simply profits at www.simplyprofits.org, established in 2006. Chan bought his first mining stock, Hoko Exploration, in 1979, and has been active in the markets for the past 37 years. Technical analysis has helped him filter out the noise and focus on the when, and leave the why to the fundamental analysts. His proprietary trading models have enabled him to identify the NASDAQ top in 2000, the new gold bull market in 2001, the stock market top in 2007, and the U.S. dollar bottom in 2011. Want to read more Gold Report articles like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page. Disclosure: 1) Statements and opinions expressed are the opinions of Jack Chan and not of Streetwise Reports or its officers. Jack Chan is wholly responsible for the validity of the statements. Streetwise Reports was not involved in any aspect of the article preparation or editing so the author could speak independently about the sector. The author was not paid by Streetwise Reports LLC for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. 2) Jack Chan: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. I personally am, or members of my ...read more
  • Silver and Gold Bottom Soon

    Silver and Gold Bottom Soon

    Source: Bob Moriarty for Streetwise Reports 12/01/2017 Gold and silver are on track to hit a yearly low this December, as they have for the past five years, says Bob Moriarty of 321 Gold, who explains his reasoning and why he welcomes these moves.Silver and gold have hit a new a low for the year during December in each of the last five years. They are on track for repeating their journey this year if we are to believe sentiment matters. And I do. Two measures allow us to gauge sentiment. My favorite is the DSI or Daily Sentiment Index put out by Jake Bernstein. It's more valuable than cheap. One good trade would more than pay for six month’s service. If you want to see how accurate is it, on December 17th of 2015, the day of the low in gold, it was 8, the low for the year. On December 15th of 2016, the day of the low in gold, it showed a value of 4, also a low for the year. For silver in December of 2015 the DSI indicated a value of 8 also on the 17th of the month even though silver spiked slightly lower in late January of 2016 for a single day. In short, the DSI marked the low for both metals. My other favorite indicator of sentiment while free isn’t as valuable as the DSI or as sensitive an indicator. It only comes out once a week and only reflects values for the prior Tuesday. In short the measure is both dated and not necessarily sensitive. It also requires a lot more understanding which few investors, indeed few letter writers have. That would be of course the Commitment Of Traders or the COTs put out by the CFTC. In my view most people tend to look through the wrong end of the telescope when discussing the meaning of the numbers. To keep it simple, there are two main categories that matter. The speculators and the commercials. Those writing or commenting about the meaning of the COTs inevitably talk about what the commercials are doing and that reverses the logic of what is actually happening. Contrary to the PermaBulls who need to fill your fantasies in order to stay in business, the commercials are both producers and consumers. For gold and silver they would be mines on the short side and jewelry manufacturers on the long side. In theory in commodities the commercials should show neutral values but for gold and silver, they are most always short since mine financing often requires forwards sales for years in the future while consumers are more short term concerned. To understand why the actions of the commercials are meaningless, you need to think of them in a different way. In Vegas they would be the stickman who could care less how the punters want to bet and only works when someone wants to bet. ...read more
  • The True Meaning of Bitcoin's 'Success'

    The True Meaning of Bitcoin's 'Success'

    Source: Michael Ballanger for Streetwise Reports 12/01/2017 Precious metals expert Michael Ballanger discusses Bitcoin, currency devaluation, and gold and silver.In the year 301 AD, the Roman unit of barter was the denarius, which had originally been 95% pure silver when introduced by Augustus at the end of the first century BC but by the time of Diocletian's rule, it had moved to 50,000 denarii to a pound of gold. Ten year later, it took 120,000 denarii to buy a pound of gold and by 337, that figure was 20,000,000. What had occurred in a mere 400 years was that a slow and agonizing erosion in the purchasing power of the Roman currency accelerated to full fiat disintegration and that complete and total disregard for the denarius was attributed as one of the underlying causes of the Fall of the Roman Empire. Nothing was more evident in the underlying rot permeating Roman society, economics and national security than the refusal by the Barbarian armies to accept anything but gold as payment for their leaving the Roman legions alone. Rejection of the currency of the Roman Empire was complete and irreversible. One of the omens of impending inflationary spirals is the tendency of those individuals controlling large swaths of wealth to reject any form of "savings" in the form of bank deposits or interest-bearing certificates. They choose instead to jettison cash or cash-equivalent instruments because of a loss of faith in the ability of local currencies to retain purchasing power. We have seen this over the ages from Weimar Germany to Zimbabwe and now Venezuela, and where gold and land were generally the tried-and-true assets of choice for those wishing to protect their wealth from the insanity and irresponsibility of governments, today in 2017 with the advent of technology and its attendant curses and wonders, the wunderkind of today have actually created their own receptacle for frightened wealth and that is the true meaning of Bitcoin and its incredible "success." When the chief technology engineers sat down ten years ago after watching the global bankers vaporize the financial system and then turn right around and "save" it through a massive and globally coordinated counterfeiting racket, they determined that anywhere government has control over money (as in the banking system), there could be no certainty of anything responsible or prudent whereas there was absolute certainty that corruption would exist at a systemic level. Therein lies the reason for the invention of blockchain technologies and the best-performing "asset" of 2017, Bitcoin, which is ahead an astonishing 1,000% year-to-date spurring the creation of hundreds and hundreds of "wannabes" being trotted out as heir apparents. Traditionally, investors moved to the old saws, gold and silver, as safe havens for decomposing currencies and as recently as this year, we have witnessed the efficacy of wealth preservation as Venezuelan citizens that moved their savings to U.S. dollars from the bolivar avoided the most ...read more
  • Explorer to Drill Flagship Copper Project with 'Blockbuster Discovery Hole'

    Explorer to Drill Flagship Copper Project with 'Blockbuster Discovery Hole'

    Source: Peter Epstein for Streetwise Reports 12/01/2017 Peter Epstein, founder of Epstein Research, evaluates Centenera Mining Corp.'s Esperanza copper-gold porphyry project. Centenera Mining Corp. (CT:TSX.V; CTMIF:OTCQX) is a 100% Argentina-focused junior mining company with attractive assets spanning copper (Cu), gold (Au) & lithium (Li), and a cheap valuation. The most important asset to watch, at least in the short-term, is the Esperanza copper-gold porphyry project (formerly known as the Huachi project, an outcropping Cu-Au porphyry system with a blockbuster discovery hole that had a giant intersection of 353m grading 0.49% Cu Eq, (including 243m at 0.57% Cu Eq and 88m at 0.69% Cu Eq). The project is located in San Juan province in northwestern Argentina, 135 km north of the city of San Juan. Esperanza is within 35 km of power lines and has year-round road access. It is located at elevations between 2,800m and 3,250m, low relative to other projects in the Andes. Exploration can be conducted year-round. Centenera has a great management, board & technical team for a company its size {66.6 million shares outstanding x C$0.20 = C$13.3 million market cap}. Drill permits are in hand, and drilling will start the first week of the new year. The Esperanza drill program will investigate the potential for a bulk-tonnage copper-gold porphyry-style deposit. The company plans to initially drill four drill holes for ~2,000m, stepouts of at least 150m from known holes. Planned holes will aim to reach deeper than historical holes, to 500–600m. Keith Henderson, president & CEO of Centenera commented in a recent press release, "Previous drilling advanced the project significantly, demonstrating grade from surface and continuity at depth. The new drill program will investigate the tonnage potential of the deposit with holes planned to test deeper and stepping out approximately 150 metres from previous mineralized intersections." Esperanza (fka Huachi) Cu-Au project In January 2017, Centenera signed a binding Letter of Intent granting it an option to earn a 100% interest (subject to a 2% NSR) in the Esperanza Copper-Gold project. The property consists of a central Cu-Au porphyry deposit and a peripheral epithermal Au system. On March 6, an NI 43-101 Technical Report was published. Esperanza is in San Juan Province (second highest of nine ranked provinces; Source: Fraser Institute Mining Survey, 2017) in Northwestern Argentina. The project has been known for a long time, but it was only first drilled in 2006. From 2005-2007, Cardero Resources conducted a modern, systematic exploration campaign focused on the porphyry mineralization. The program consisted of systematic rock sampling, detailed property scale mapping, an IP survey, and drilling (11 holes, 2,552m). "Exploration programs completed by Cardero Resources from 2005–2007, and Kestrel, 2011–2012, greatly increased the understanding and potential of the property. Cardero's was the first comprehensive modern exploration with an emphasis on finding and defining a porphyry copper deposit. Cardero was successful in identifying both widespread porphyry copper and low sulphidation epithermal gold style mineralization." {Source: Page 51 ...read more
  • Pan American Silver Buys 16% of Silver Explorer

    Pan American Silver Buys 16% of Silver Explorer

    Source: Streetwise Reports 11/27/2017 A potentially large silver project in Bolivia has caught the attention of Pan American Silver.New Pacific Metals Corp. (NUAG:TSX.V) announced that it closed a private placement with Pan American Silver Corp. (PAAS) of 16 million units and Silvercorp Metals for 3 million units. According to the company, each unit was priced at $1.42, for gross proceeds of approximately $27 million. "The proceeds of the Private Placement will be used to further the Company's exploration and/or development program on its Silver Sand Project located in the Potosí Department of Bolivia and for general working capital purposes," New Pacific Metals stated in the release. "Each Unit is comprised of one common share of the Company (a "Common Share") and one half of one Common Share purchase warrant. Each whole warrant is exercisable into one Common Share for a period of 18 months at an exercise price of $2.10 per Common Share," the company stated. Pan American will appoint one director to the Board of Directors. Silvercorp is a 32% shareholder of New Pacific Metals and Pan American owns 16% on a fully diluted basis. New Pacific Metals noted that Pan American "is one of the world's largest primary silver producers and owns and operates six mines including the San Vicente mine located in the Potosí Department of Bolivia." Dr. Rui Feng, New Pacific's CEO, said, "To have a company with the stature and experience in Bolivia as Pan American will be invaluable as we develop our Silver Sand property 25 km northeast of Potosi." New Pacific acquired rights to the Silver Sand project in Potosí, Bolivia in July 2017. According to the company, the property "is one of the earliest silver discoveries in the district, having been made prior to the discovery of Cerro Rico in the mid-1500s. Small-scale, historic mining is evident from scattered shafts, pits, adits, declines and dumps. The property was explored previously by intermittent surface mapping and sampling, underground sampling and surface core drilling between 2012 and 2015." Historical drilling conducted in Silver Sand's Zone 1 showed silver grades ranging from 60 grams per tonne (60 g/t) silver to 329 g/t silver, with an average of around 250 g/t silver. New Pacific's confirmation drilling returned similar values. "Given that Silver Sand's mineralization starts at surface, these grades constitute high-grade material," Gordon Neal, president of New Pacific, told Streetwise Reports. New Pacific received permits for drilling and has commenced a 30,000-meter drill program. The company expects the drill program to be completed mid-2018, and expects to release a preliminary economic assessment soon thereafter. "At Silver Sand, the host rocks of the silver mineralization are Cretaceous-aged quartz-rich sandstone, which were strongly silicified and now occur in gentle, open folds, dipping shallowly to the north," the company noted in its news release. Neal told Streetwise Reports that the Silver Sand property has seven identified mineralized zones, and only Zone 1 has seen ...read more