Evening all,
I posted the following on the STT forum earlier. These might not be DTers but a couple to keep close eyes on IMO for the short term-
CDT - Castle Minerals:
MCAP: Circa $6m
SP: 1.4cRecent placement out of the way - drilling underway at Wanganui in the Murchison region of WA -
Recent rock chip sample grades up to
88g/t AU, close to others 13.35 g/t and 6.26g/t - these are in the same area as historic drills in the eastern lode:
2m@70g/t AU
2m@25g/t AU
[email protected]/t AULots of rich mining happening around there and mineralisation continues to considerable depths. Westgold hold some operating mines very close by and CDT would likely use their nearby mill down the track to process their paydirt.
Results of a review of Beasley Creek to come (yes it was a conglomerate play a few years back). Still highly prospective.
Largest tenement holder in Ghana (about 9000km2) highly prospective land - part of which is Farmed out to Iguana in an $11.7mUSD deal for an up to 80% stake (awaiting MINCOM approval which hopefully shouldnt be too far off).
Graphite deposit that could be farmed out or sold off for further capital.
They also retain a 4% net smelter royalty fee from Azumah Resource to whom they sold their Julie West license in 2019).
Nice strategic player with some good landholdings and heaps of short term potential for a $6m MCAP.
CHK - Cohiba Minerals
MCAP: Circa $10m
SP: - 1.1cAs far as "nearology plays" this doesnt get much better IMO.
Just got approval to drill some strategic holes in their Horse Well and Pernatty C prospects. Not a huge campaign (2000m) so should be completed pretty quick - but here is the interesting bit - the Horse Well tenement adjoins BHP's Oak Dam project and is a suspected feeder for what I can only call some of the best copper hits I have ever seen in 15+ years investing.
There are 2 BHP holes to talk about which has sparked my interest in CHK (the rest of the results were still very strong and 3rd batch still to come ):
AD-23 – 425m @ 3.04% CU, 6.03 g/t AU, 346 ppm of uranium and 0.59 g/t AG. This included 180m @ 6.07% CU, 12.77g/t AU, 401ppm of uranium and 0.92g/t AG.
AD-26 (which intersects AD-23) – 205m @ 2.05% CU with 3.8g/t AU, This included 44m@ 5.77% CU, 14g/t AU, 1.2g/t AG and 643ppm of uranium.Admittedly this is at depth - but it does put Cohiba very much on a path to takeover if their strategic holes come in.
Bit of a risk v reward play but I like what the neighbour has, and it might be coming from Cohiba's ground.
IMO both of these have a strong possibility of multi bagging in the short term but of course the market can be fickle - as such DYOR.
Thoughts welcome
Cheers all.
