Resources have entered a bull market. Gold, silver and platinum prices have climbed significantly. From a cyclical perspective, gold begins its strongest performance period in early August, silver follows a month afterward. We're currently experiencing what seems to be a sideways adjustment. This would be entirely normal and expected following the swift gains in silver, platinum and gold. Remember, it is not over until the fat lady sings.
The premier gold corporations have progressed as frontrunners in the parade, then the medium-sized operations and recently the smaller resource firms are beginning to display signs of activity.
I've been occupied with relatives and visitors for the past fourteen days. I'm considerably behind in covering businesses I monitor and invest in, so I'll discuss several promising juniors that I genuinely favor. At this phase of the market there are literally hundreds of undervalued juniors actually implementing strategies that will create value. The resource bull market is merely beginning. When it reaches its apex I'll try my best to inform my readers but for now it's full throttle ahead. Even if the broader market collapses and digital currencies revert to their actual worth, any decrease in metals or resource lottery tickets is temporary.
Golden Cross
Golden Cross Resources Ltd. (AUX:TSXV) experienced an outstanding June with shares rising 120% from $0.33 at month's beginning to a peak of $0.72 three weeks later. Sadly, nothing ascends directly, only descends occasionally. Golden Cross has since pulled back to $0.42 before initiating a recovery. Shareholders were divesting shares in public trading simply to join the $0.45 private placement. Imminent assay deliveries should transform the situation completely.
Golden Cross appears to possess an identical deposit to Southern Cross that surged from $0.30 a couple years back to $7.20. Golden Cross is conducting a 6,000-meter drilling campaign with assay outcomes expected shortly.
Golden Cross is situated in one of Victoria, Australia's most productive gold regions. Earlier drilling revealed samples measuring 11 meters of 31.4 grams per tonne gold and 2 meters of 174.42 g/t Au. The high-grade gold exists in layered quartz gold veins resembling ladder rungs between forty and one hundred forty meters apart.
Previous operators presumed the hanging wall and foot wall surrounding the exceptionally rich quartz veins contained no gold and never tested them. Southern Cross disproved that theory. Their samples indicated between 0.3 to 0.5 g/t Au. That partially explains their remarkable assay outcomes. Golden Cross is examining all existing core again to evaluate the areas between the high-grade quartz veins.
Golden Cross has potential comparable to Southern Cross and Snowline. Conduct your own research.
Harvest Gold
Harvest Gold Corp. (HVG:TSX.V) has been featured in interviews I've conducted over the last quarter with Ahead of the Herd. The stock was $0.03 in April giving the business a valuation below three million when I began accumulating shares and discussing it merely because it was so inexpensive yet controlling a premium project.
Drawing attention to the struggling stock propelled the share price to $0.14 before starting a natural correction. The company completed a private placement with the four-month restriction expiring on August 18th so anticipate weakness until that date as investors liquidate shares to retain warrants.
Regardless, the company now has sufficient capital and is prepared to drill a 5,000 meter Phase One program at their flagship Mosseau gold project in Quebec's Abitibi Greenstone Belt beginning early August. Expect assay results to start arriving from late September into October.
Toogood Gold
The next company is intriguing, Toogood Gold Corp. (TGC:TSVX) currently drilling a 2,000-meter program at their 2022 Quinlan gold discovery in northeastern Newfoundland along the same trend as Newfound Gold.
Toogood Gold recently finished a $4.5 million private placement to fund drilling at their high-grade Quinlan property. The drilling campaign aims to follow up on a 2022 program by a previous operator that discovered visible gold in fifteen out of nineteen holes drilled.
The drilling program is among the most unusual I've ever witnessed. Gold mineralization extends directly to surface so the average planned hole depth is only fifty-three meters. While 2,000 meters doesn't sound substantial, it will enable forty to forty-five holes.
2022 assay results from Quinlan included 3.65 meters of 23.9 g/t gold from 4.75 meters depth, 4.25 meters of 18.27 g/t Au from 41.25 meters and 3.18 meters of 9.4 g/t Au from 9.4 meters deep. These are exceptional findings and suggest the ongoing drilling program has tremendous potential across the district-scale property.
Toogood Gold is a fresh company having completed an RTO just a month ago. Shares are closely held and difficult to acquire. The company needs to establish an OTCQB listing and simplify purchases for American investors but the company faces an exciting journey should they manage to replicate 2022 drilling results. With a valuation around $20 million, I consider the shares particularly undervalued.
Silver North
Silver North Resources Ltd. (SNAG:TSX.V; TARSF: OTCQB) is finalizing a $2.1 million private placement intending to drill ten holes totaling 2,500 meters at the company's Haldane silver project situated in the Keno Hill silver district near Hecla Silver's mining operations. Drilling will commence around August 15th, expect assay releases during late September to October.
Last year's drilling campaign at Haldane in the Yukon uncovered a new zone at what they term the Main Fault. Hole 29 produced results of 3.05 meters of 460 g/t Ag, hole 30 yielded 1.83 meters and 1,088 g/t silver and an additional 3.03 meters of 423 g/t silver also in hole 30.
It's yet another example of an absurdly undervalued stock securing financing and preparing to generate results. Silver will be popular this year and Silver North will attract attention.
Bathurst Metals
The next company is called Bathurst Metals Corp. (BMV:TSXV; BMVVF:OTC) and perfectly illustrates what I've been emphasizing. The company controls four excellent projects yet has remained completely silent during the market downturn.
There's nothing wrong with the business that would explain the $3.5 million total valuation. The only issue is a lack of announcements and forward momentum.
That just changed.
The company is concluding a $500,000 private placement at $0.075 and plans a 2,000 meter drilling program beginning in four to five weeks at their Peerless gold-silver project located in British Columbia's Gold Bridge Mining Camp. Once the results arrive from the initial drilling program Bathurst plans a subsequent campaign.
Metallic Minerals
Greg Johnson, CEO and Chairman of Metallic Minerals Corp. (MMG:TSX.V; MMNGF:OTCQB) was a co-founder of NovaGold. Our relationship spans almost twenty-five years. The company was featured in one of the earliest articles I wrote after launching 321gold.com. You should read the piece; it was quite precise and published right at the absolute bottom of the gold market. Much has transpired since then.
Metallic Minerals is currently conducting a $5 million private placement that I'm joining. The company boasts a diverse portfolio including a copper, gold and silver project in Colorado. President Trump has stated America must return to mining as a means of generating wealth. With copper at historic high prices, MMG's La Plata project with a 43-101 resource of 147 million tonnes of 0.41% Cu Eq fits perfectly.
Since silver is trending currently and many predict it will reach unprecedented prices soon, Metallic's Keno Hill silver project in the Yukon is well-timed. Metallic's 171 square km property adjacent to Hecla's silver mining operations is 100% owned and reports a 43-101 resource of 18.2 million ounces of silver equivalent grading 223 g/t Ag Eq along with eight historic silver mines including five that yielded silver exceeding 5,000 g/t.
The $5 million will bring Metallic back into prominence with drilling results from La Plata and significant exploration at the Keno Hill property. With a total valuation around $42 million and leadership by a recipient of multiple industry awards, I'm confident that Metallic is undervalued and will appreciate. The federal government is beginning to invest in resource companies and both commodities, copper and silver are scarce.
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