Tag: Gold79 Mines Ltd.

Gold79 released the final batch of assays from its recently completed 16-hole maiden drill program at its Gold Chain project in Arizona. The final batch of assays comprised 12 holes (852m) focused on the northern 2km of the 10km North Oatman trend which includes the historical Roadside mine and the Banner mine. In our view, 2021 drilling, including the previous results from Tyro (read more), returned good grades that warrant follow-up drilling (2022E) and additional exploration work. We believe Gold79 has proven that it can execute a high-impact and efficient drill program. We also continue to believe Gold79 offers a compelling buying opportunity for investors at its current valuation.

Gold79 announced results for the first four drill holes (223m) from its recently completed 16-hole drill program at its Gold Chain project in western Arizona. The four holes tested broadly mineralized surface exposures to depths of 20-40m at the Tyro target. In our view, these initial drill results at Tyro are very encouraging and validate the company’s strategy to realign its focus on Gold Chain. We are particularly impressed given the tight turn around between drill mobilization (mid-Sept) and the receipt of assays. We note that Tyro is covered with patented claims, for which Gold79 recently entered into an option agreement (read more), which offer a strategic advantage for permitting and potential development as opposed to other claim types. We believe Gold79 has proven that it can execute a high-impact and efficient drill program. Should it continue to deliver positive results, we believe the stock could be due for a potential re-rating. We also continue to be of the opinion that Gold79 offers a compelling buying opportunity for investors at its current valuation.