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Author: RCFS Web

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Canada Nickel Company Inc. (TSXV:CNC) – Third Test’s a Charm; Solid Met Test Results from Crawford

Canada Nickel released encouraging results from the third locked-cycle test (LCT) conducted on its 100%-owned, Crawford sulphide nickel-cobalt deposit near Timmins, Ontario. Test work to date has been completed on multiple samples from Crawford from the higher-grade core, which is expected to provide the bulk of mill feed for the initial mine life. In our view, the latest set of results are an improvement from the prior, which bodes well for Canada Nickel as it continues to de-risk Crawford.

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Chalice Mining Ltd. (ASX:CHN) – 2020 Performance of +1,500%; Upside Intact

Prior to March 2020, we viewed Chalice as a Au focused exploration company with a few interesting Ni properties, but given the exciting exploration results seen by the company over several months at its Julimar project, the company’s main value now comes from its exciting Ni-Cu-Co-PGE discovery where we see a lot of similarities with both the Kevitsa mine in Finland and the footwall deposits of Sudbury. If we are right, Julimar is shaping up to be an extremely significant new Ni-Cu-Co-PGE discovery.

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Southern Silver Exploration Corp. (TSXV:SSV) – Drilling at Bocona Continues to Hit High-Grade Mineralization

Southern Silver announced additional results from its 10,000m 2020-21 diamond drill program. These results from the Mina La Bocona (Bocona) target have intercepted further intervals of shallow gold-enriched oxide and deeper high-grade sulphide mineralization at the company’s 100%-owned, polymetallic Cerro Las Minitas (CLM) property in Durango State, Mexico. With 75% of the drill program complete, these results from outside of the current resource continue to be very encouraging. We continue to believe Southern Silver is an extremely undervalued silver explorer with an already huge, high-margin resource in one of the best silver mining districts globally.

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Vista Gold Corp. (TSX:VGZ) – Mt. Todd Drilling Confirms North Extension of Batman Deposit

Vista Gold released assays for another three of eight holes from ongoing exploration at its 100%-owned Mt. Todd gold project in Northern Territory, Australia. Drilling has confirmed the extension of the Batman Core Zone to the north as anticipated, while the intercept is thicker than expected with higher grades in the center. In our view, the results confirm the exploration potential of Mt. Todd, which bodes well for Vista as it continues to de-risk Mt. Todd for potential development. These drill results are important, not because they are stellar, but because they may help improve in pit economics and demonstrate potential to expand this already massive deposit and points toward extensions along a 5.4km long trend towards other known deposits. Management is certain that this is a district with growing exploration potential.

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Silver Tiger Metals Inc. (TSXV:SLVR) – The Tiger Roars Again; New Discovery With >1000 g/t AgEq

Silver Tiger provided a very encouraging exploration update from its 100%-owned El Tigre Ag-Au project in Sonora, Mexico. Assays from the Benjamin Vein discovery was announced, and all three initial holes hit high-grade Au-Ag mineralization. In our view, discovery of high-grade veins such as Benjamin are likely to expand existing resources, and we expect Silver Tiger’s share price to appreciate as veins are further delineated through aggressive exploration drilling during 2021.

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Aura Minerals Inc. (TSX:ORA) – Best of Both Worlds: Au-Cu Production and Growth

We are initiating coverage on Aura Minerals Inc. with a BUY rating and a target price of C$25.00, representing 66% upside from the current share price. Aura Minerals is an Americas-focused mid-tier gold and copper producer with four operating mines and four growth assets that it is aggressively advancing towards production. The company has undergone a dramatic transformation over the past three years, which has resulted in a significant re-rating of its stock – up 762% over the past year. In our view, Aura Minerals provides the best of both worlds for investors as we expect it to start generating significant free cash flow through its existing operations and provide ongoing upside via organic growth and potential M&A transactions.

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Karora Resources Inc. (TSX:KRR) – Record Annual 2020 Production

Karora reported its Q4 and record annual production results for 2020, beating both its annual guidance and Red Cloud production estimates. As Karora continues to demonstrate steady operations and cost reductions, it is building a foundation for the next leg of its growth, which we expect will be delivered via the drill bit – and maybe the need for a mill expansion. We expect the company’s aggressive exploration budget this year to deliver continued success, translating into resource growth and potentially helping Karora re-rate further.

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Brixton Metals Corp. (TSXV:BBB) – Conclusion of 2020 Drilling at Thorn Uncovers New Cu Porphyry

Brixton Metals announced the last batch of drilling results from its 2020 drilling program, at its 100%-owned, 2,594km2 Thorn Cu-Au-Ag project located in northwest British Columbia. The three results released are indicative of a new discovery at Camp Creek with further drilling warranted in 2021 to better understand the mineralization present at depth. We continue to believe Thorn could potentially contain significant mineralization and host multiple mineralized systems.

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Blackrock Gold Corp. (TSXV:BRC) – Victor Begins to Take Shape

Blackrock Gold released additional high-grade Au-Ag drill results from the Victor target at its 100%-controlled Tonopah West project in Western Nevada. The company also provided an outlook for 2021, which includes resource definition drilling at the DPB target. In our view, the drill results from this release are highly encouraging and we expect to see a steady stream of news flow through 2021 as the company prepares for resource definition drilling.

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