Tuesday, March 05, 2024
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.
Recent drill results. Exploration and drilling at the company’s 100%-owned Kingsway gold project is targeting the Appleton Fault over a 12-kilometer strike length. With almost 92,000 meters of the company’s planned 100,000-meter drilling program completed, the company has approximately C$7 million in cash on hand. Assays are pending for samples from approximately 4,000 meters of core. The company recently released results for holes drilled at the Northeast extension of Big Vein, Knobby, and a follow-up hole at the HM occurrence.
Long interval of high-grade gold at Big Vein. Hole K-23-309 drilled at Big Vein intersected several intervals over the length of the hole, including 10.63 grams of gold per tonne over 5.9 meters that included 46.72 grams of gold per tonne over 1 meter, 1.41 grams of gold per tonne over 2 meters, and 2.2 grams of gold per tonne over 8.3 meters that included 12.07 grams of gold per tonne over 0.8 meters.
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