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Month: October 2018

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Pacton Gold Inc (TSXV:PAC) – More Nuggets from the Egina

Impact: Mildly Positive

Pacton Gold continues to discover gold nuggets on its properties in the Egina region; specifically at the Golden Palms property (Figures 1 & 2). The news is another step in the right direction for the company as it ramps up its exploration efforts in Western Australia and transitions from land-acquirer to explorer. In our view, Pacton has multiple projects that could yield a significant conglomerate gold discovery, as demonstrated by its early stage success.

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Nicola Mining Inc. (TSXV:NIM) – Custom Milling Kicks-Off

Impact: Positive

Nicola to recommence milling for Gavin Mines, positioning itself as the only permitted mill to process third party Au-Ag ore. The mine anticipates shipping up to 40ktpy (~11.2g/t Au & ~100.8g/t Ag) to the Merritt Mill, which only fills ~50% of the mill’s capacity, leaving the remaining capacity open to be fed by other mines. The announcement supports our thesis of custom milling being a sweetener to what we believe is a high-potential copper-focused exploration story.

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Brixton Metals Corp. (TSXV:BBB) – Big Grades from Hudson Bay

Impact: Positive

News from the 11 drill holes at Brixton’s Hudson Bay project comes as an exciting step forward, compounding on the ongoing exploration success at the nearby Langis mine. The Hudson Bay project is located in the Cobalt Camp, where ~500 Moz Ag and ~50 Mlb Co have historically been produced. Results support our thesis that Brixton remains an undervalued explorer with multiple prospective assets in North America.

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Nicola Mining Inc. (TSXV:NIM) – Another Sweetener to a Copper Explorer

Impact: Positive

Higher cut-off grades applied by historic operators appear to have left a potential bulk mineable copper resource. Following positive results from the Phase 1 RC drilling program, Nicola is proceeding with Phase 2, focused on the South Waste Piles and 3060 Ore Portal zones. The objective is to define a resource for the copper-magnetite bearing crushed materials left behind at surface by previous operators. We note that a Waste Pile processing operation could help kick start a larger copper mining project at New Craigmont or be of interest to Teck Resources operating the low-grade Highland Valley copper mine next door. We continue to view Nicola as a high-potential copper exploration story and await results from diamond drilling of the mineralized halo surrounding the existing pit and previously identified porphyry targets.

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Orford Mining Corp. (TSXV:ORM) – Thick Au Intercepts Found; Follow Up Work Warranted

Impact: Mildly Positive

Thick gold intercepts warrant follow up work in Quebec; Carolina drilling also hit thick zones of low grade gold. The company announced results of the 2018 drilling and mapping program on its Qiqavik property in northern Quebec. Although very early days, the company is methodically progressing exploration at Qiqavik. In addition, they provided an update on the Jones Keystone and Landrum Faulkner drilling in the Carolinas. Qiqavik’s results continue to highlight this projects potential and with only ~16 weeks’ work completed to date, follow-up is needed.

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Pacton Gold Inc (TSXV:PAC) – Pacton Leapfrogs with Visibility to Processing

Impact: Mildly Positive

Access to processing facility accelerates Pacton’s evolution. Pacton announced a Memorandum of Understanding (MOU) with Artemis Resources (ASX:ARV) for a strategic processing alliance that should allow Pacton to process future bulk samples through Artemis’ Radio Hill plant. While Pacton is at an early stage of exploration, this MOU provides a clear path to the bulk sampling stage. This deal confirms our thesis that the company has continued to transition from land-acquirer to explorer.

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SolGold Plc (TSX:SOLG; LON SOLG) – Great White Shark Takes Another Bite

Impact: Very Positive

BHP makes a statement by increasing its stake in SolGold at a premium. BHP Billiton (ASX:BHP; LON:BLT) has increased its stake to 11% and has provided a good portion of the funds required for SolGold’s 2019 exploration program. This should lift any perceived financing overhang and opens the door to a valuation rerating. With copper fundamentals improving and few large-scale undeveloped projects available (Figure 1), we expect Alpala to be coveted by major miners looking to bolster future production.

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De Grey Mining Ltd. (ASX:DEG) -Hard Rock Asset Continues to Grow

Impact: Mildly Positive

Results point to continued resource growth for De Grey’s hard rock assets. The company’s exploration results from Toweranna and Mallina are likely to add to the company’s growing inventory of mineable ounces. These results follow a recent resource update where the company more than doubled mineable ounces. This news supports our theory that the project has significant room to grow (Company aims to build a 3Moz Au resource – Figure 1).

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Pacton Gold Inc (TSXV:PAC) – Nuggets Delivered from the Egina

Impact: Mildly Positive

Pacton Gold announced the discovery of gold nuggets within favourable stratigraphy. This news is the beginning of an important step for Pacton as it moves from land-acquirer to explorer. Pacton’s gold nugget discovery at Friendly Creek bodes well for future exploration along the 10km of favourable conglomerate. The Pacton tenements are in the Egina region of the Pilbara that has been identified as prospective for conglomerate gold by Novo Resources (TSXV:NVO).

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NxGold Ltd. (TSXV:NXN) – “Roe-ing” Towards Success; New Target Identified

Impact: Mildly Positive

Exploration at Mt. Roe identifies new hard rock target. Recent exploration efforts by NxGold at its Mt. Roe project resulted in the discovery of the Sun target, to go along with the advancing Eagle hard rock target. While at an early stage, proximity to Artemis’ Silica Hill’s project emphasises the potential for discovery. This recent exploration update continues to support our thesis that NxGold provides investors with both conglomerate gold and hard rock exploration potential.

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