Tag: Visionary Gold Corp.
Visionary Gold announced that it has identified a 3km long zone of Cu-Au mineralization at its Lewiston-Miz claims, located ~1.5km SE of its 100%-owned Wolf gold project where anomalous Au values were intersected in 2021 drilling. The company has also identified the prospective Wind Hill target ~700m to the NW of the Wolf project. We are encouraged to see that Visionary has already identified several targets that look to be more compelling than the Wolf project based on its successful 2021 regional exploration program. Visionary is a first mover in the Lewiston district and is taking a district-scale and systematic approach to exploration, thus we expect additional targets to be identified and tested. In our view, with a year of data collection in-hand, Visionary should be poised to execute a 2022 program that could potentially result in a discovery.
Visionary Gold (VIZ) reported results from the first five holes (780m) of the maiden drilling campaign at its 100%-owned, flagship Wolf Gold project in Wyoming. We are encouraged to see the confirmation of a large Au-bearing hydrothermal system and believe that the company can use these results to better understand the controls on mineralization in the district and target potential gold bearing structures or areas. In our view, we characterize these results as a technical success. We believe it is still very early days for the company, as these initial holes are the first to be drilled in a district that had not previously been explored using modern methods. Visionary is a first mover in the Lewiston district and is taking a district-scale and systematic approach to exploration, thus we expect additional targets to be identified and tested. We believe there is still opportunity for discovery with future drilling.
Visionary Gold provided an exploration update at its 100%-owned Wolf Au project in Wyoming, where it has completed the first ever drill program in the Lewiston Gold District. In the update, Visionary announced geochemical sampling results, which when combined with recent mapping and geophysical surveys, have led to a reinterpretation of some of the regional shear zones. Importantly, this work-up program has begun to identify other prospective targets across the ~5,000 ha land package, and once full assays are received, we expect Visionary to start finalizing plans for the next phase of drilling.
Yesterday, Red Cloud hosted the first day of its three-day 2021 Oktoberfest Fall Mining Showcase, which featured 26 presenting companies including our keynote speaker Dr. Thomas Brady, Managing Director of Capitalight Research Inc., and had over 1,000 participants registered in advance of the event. With this note, we want to provide a quick recap of the highlights from the conference for those who were unable to attend the live event. If you would like to attend Day Two and Three of Red Cloud’s Oktoberfest Fall Mining Showcase, register here. Replays are available on the Red Cloud website.
Q3 Producer Preview & Commodity Price Update – Lowering Gold Price Forecasts While Most Commodities Increased
Q3 operating and financial results are to be announced over the next few weeks. While gold is out of favour, prices have been trading within a narrow window that have allowed companies to continue to turn profits, despite an uncertain outlook. Late summer was hard on most commodities as precious and industrial metals alike fell on a slowdown in global economic growth due to surging fuel prices, Chinese power restrictions, labour shortages, disrupted global supply chains and a stronger USD. Metal prices came under further pressure as major property developer Evergrande missed further bond payments, impacting iron ore and copper prices. With this update, we provide new commodity price and FX forecasts, updated coverage estimates, and a fresh set of top picks.
We are initiating coverage on Visionary Gold Corp. (TSXV:VIZ) with a BUY (Speculative) rating and no target price. Visionary is a first mover in the historic high-grade Lewiston Gold district of Fremont County, Wyoming. The company is the first to undertake modern exploration in this area and as a result, has been strategically growing its land position while preparing for a maiden drill program. Bonanza gold grades at surface suggest that Visionary is well positioned to potentially make a gold discovery at its Wolf Gold project. As a result, we expect that positive drill results from this year’s program could drive the company’s share price higher.