The Sitka story in Nevada is alive and well: Sitka Gold Corp. (CSE: SIG; FRA: 1RF) has just released the highly anticipated results from its two drill holes at the Alpha Gold project in Nevada. Both holes AG21-02 and AG21-03 have long intercepts of up to 100 meters with anomalous gold grades, however the gold grades are only in the range of fractions of a gram.
Goliath Resources (TSX-V: GOT; FRA: B4IF) is poised to commence its first drill program on the newly discovered Surebet Zone within its 230 square kilometer Golddigger License in British Columbia's prolific Golden Triangle. The drill permit for a diamond drilling program has been received and is valid for five years, the company announced today. The spectacular discovery of Surebet - in German "safe bet" - had been reported in November last year. Extensive channel sampling had identified a high-grade polymetallic gold-silver structure that runs like a fissure through the mountain. The mineralized shear zone is exposed over a length of one kilometer (1,000 meters) and extending vertically for 500 meters in elevation. Measurements of the zone returned an average thickness of 9.84 metres grading 10.68 grams per tonne gold equivalent (AuEq) (7.59 g/t Au). Since the discovery, Goliath's stock has quadrupled, attracting prominent investors including Crescat Capital and Eric Sprott as well in the technical community attracting Dr. Quinton Hennigh to become a technical advisor. Upcoming drilling is expected to cover ~5,000 meters. A 3D model of the Surebet zone and a video showing proposed drill locations can be found under the following link. (3D Model & Proposed Drill Locations Video Link).
Shares of gold explorer Ready Set Gold Corp. (CSE: RDY; FRA: 0MZ) have been in an almost continuous decline since its initial public offering at $0.60 CAD last December. Just a few days ago, the stock could be picked up for less than CAD 0.20. Accordingly, the market valued the 1.2 million historical ounce resource at the Northshore Project at less than CAD 10 million! The tide may now be turning following the release of the second half of a total of 13 drill holes at Northshore.
Everyone wants environmentally friendly mining and the cleanup of contaminated sites. But when in doubt, small start-ups have to find the money themselves. This can be seen in the case of Cerro de Pasco Resources Inc. (CSE: CDPR; FRA: N8HP), which has set out with the vision of completely acquiring the Peruvian scandal project of the same name and rehabilitating it from the ground up, while continuing its commercial operations.