Few gold and energy stocks I'm following are worth keeping an eye on over the next few weeks.
CNB (gold) started drilling at Tick Hill on the 1st of Aug. This will be the first drilling in 14 years, targeting remnants, potential offsets and satellite lodes at Tick Hill which historically was one of Australias highest grade gold mines. Historically hits are high grade and relatively thin (1-5m) They have plenty of cash with around $4.7m as at last Q (incl last raise).
"Tick Hill produced 511,000 ounces of gold at 22.5g/t gold between 1991 and 19951 . It was mined to only 235m below surface at an average of 2,184oz of gold per vertical metre, with an average strike length of just 80m (refer Figure 2). It is believed that the Tick Hill orebody was faulted off at depth with the offset extension yet to be discovered. Historical reported metallurgical gold recoveries were 97% with a highly positive mill reconciliation reported against resource estimates."
AAR (gold) started drilling a 31 hole program on the 23rd Aug, first results from 8 holes were in on the 19th Sep and were quite impressive with the best hits being. 45 m @ 4.25 g/t Au from 103 m 93 m @ 3.11 g/t Au from 49 m
Somewhat interesting is the choice to use the new (?) photon assay method. The assays have a much quicker turnaround time and seem to be better suited when defining coarse gold systems. Hadn't come across this before but sounds like something we may see a lot more of in future so possibly worth a read up on. https://www.csiro.au/en/Research/MR...eral-analysis/PhotonAssay-xray-gold-detection
They had drilled 20 holes as at the last update so should have the next lot of assays due this week or next you would think. The results from the photon assays are coming in better than historical grades and the system is being proven at a greater depth, the next big deal will be to see it extend to the NW at depth.
"Evidence from assay results received to date point to the fact that the Company’s hypothesis was correct – that it is critical to sample 1m intervals (rather than 4 m composites, followed by selective 1m sampling), which along with large sample size used in Photon analysis, is considered superior to the previous approach used at Mandilla. It is apparent that previous sampling and assaying has failed to identify significant gold zones. That being the case, previously reported mineralised intersections set out in the cross sections above would seem to significantly understate the amount of gold actually present and, hence, the size of the Resource previously reported"
EXR (coal seam gas) aim to kick off their maiden drill this week or next in Mongolia. They have a top notch team and a large acreage position strategically situated next to the China border. Regional data suggests that they have a good chance at defining commercial grade coals for gas production and the drilling program will significantly derisk. Some parallels to GLL can be drawn.
WEL (Texas oil) A few months ago their net production was 54bbls/d, over the past few months they have been flat out drilling and have not been short of luck with every hole commercial. They should have news over the next week or 2 on 2 different wells regarding flow rates that could each add 200-500bbls of production. They are likely quite profitable by now based on the production step up over the last few weeks. News flow is rock solid too with 3 wells planned to be drilled in October followed by production testing in November.
TTB (tech) strong on the TA front seemingly stimulated by the new sub holders since the IBM partnership. It's likely also getting some rub off from the PCK run given the superior revenue.
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