Falcon Gold CEO Karim Rayani: Multimillion Ounce Potential in Central Canada

“We’ve got a multimillion ounce potential prospect in Central Canada tied onto one of Canada’s largest gold deposits,” said Falcon Gold CEO Karim Rayani.

Falcon Gold (TSXV:FG,FWB:3FA,OTCQB:FGLDF) CEO Karim Rayani shared that the company’s Central Canada gold project located near Atikokan, Ontario, returned five grab samples ranging from 11.2 to 79.7 grams per tonne gold.

“The Central Canada project is tied with Agnico Eagle Mines (TSX:AEM,NYSE:AEM), which has one of the larger defined deposits in Canada. We’ve done three successful programs, tested the mineralization, and we’re hitting consistent grades. We have to do some further rounds of drilling and define some more ounces. We can be sitting on 1 or 2 million ounces,” said Rayani.

The Central Canada mine has a mineralized strike length of 140 meters as defined by drilling intercepts, and consists of parallel zones that strike east-northeast and dip steeply to the north-northwest.

“We’ve got a multimillion ounce potential prospect in Central Canada tied onto one of Canada’s largest gold deposits. We’ve got a high-grade system in BC, a number of assets acquired in Newfoundland and it’d be hard pressed to find another deal like ours.”

Watch the full interview of Falcon Gold CEO Karim Rayani above.


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Western Copper and Gold CEO: We’re Western Copper and Gold for a Good Reason

“We’ve got 21 million ounces of gold and 11 billion pounds of copper in our overall resource at Casino. Very significant from both a copper and gold perspective. So we’re Western Copper and Gold for a good reason,” shared Western Copper and Gold CEO Paul West-Sells.

Western Copper and Gold (TSX:WRN,NYSE:WRN) is currently sitting on a resource that’s composed of 21 million ounces of gold and 11 billion pounds of copper.

Western Copper and Gold CEO Paul West-Sells views this as a significant endowment for the company and its shareholders, as well as for Canada and the Yukon.

“We’ve got 21 million ounces of gold and 11 billion pounds of copper in our overall resource at Casino. Very significant from both a copper and gold perspective. So we’re Western Copper and Gold for a good reason. And that’s where the value is in the ground,” said West-Sells.

In June 2021, the company announced a positive preliminary economic assessment at its wholly owned Casino copper-gold-molybdenum deposit in the Yukon. Western Copper and Gold will conduct a feasibility study on Casino, and it is targeted to be completed by the second quarter of 2022.

“The other big push for us is to get the permitting going. We now have money in the bank, and we just hired a vice president of permitting to move the project. More importantly, we now have Rio Tinto (ASX:RIO,LSE:RIO,NYSE:RIO) as a strategic investor, which was the last piece that was really missing. This is a big project. A lot of ounces, a lot of pounds, a lot of upfront capital to get those out of the ground.”

Western Copper and Gold completed a brokered private placement for aggregate gross proceeds of $8,010,000 that will be used to fund “Canadian exploration expenses” and “flow-through mining expenditures.”

Watch the full interview of Western Copper and Gold CEO Paul West-Sells above.

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Novo Resources Executive Co-Chairman Michael Spreadborough: Well Financed to Bring Exploration Projects into Production

Novo Resources Executive Co-Chairman Michael Spreadborough said the company has a strong balance sheet to keep advancing its projects toward production.

Novo Resources (TSXV:NVO) recently announced it has intersected high-grade gold at its Talga Talga gold project and has accelerated the near-mine exploration program at its Nullagine gold project in Western Australia. Novo Resources Executive Co-Chairman Michael Spreadborough said the company has a strong balance sheet to keep advancing its projects towards production.

“We are sitting at approximately $50 million cash at the moment, (and) have a strategic investment portfolio that’s worth roughly C$150 million. Our balance sheet is very, very strong with enough horsepower to do the exploration work. We are in a very strong position to keep us moving forward,” he shared.

Novo Resources’ exploration program has been accelerated with additional funding of up to AU$2.5 million to support near-mine exploration. The amount is on top of the previously approved AU$12 million. Novo Resources is aiming to accelerate the delineation of targets in the Mosquito Creek Basin that have the potential to provide additional oxide mill feed to the Golden Eagle processing facility

“We like to play with innovation, we like to be leaders in some of the things that we’re doing. So we’re very focused on ore sorting. Innovation is a big focus in our culture. We’re putting over $15 million a year into exploration as we develop more targets to bring into production,” said Spreadborough.

“We’ve already found good gold discoveries, we’ll probably find more as we do more work. We’ve got the horsepower financially and we’ve got that ability. We’ve demonstrated now that we can take exploration projects all the way through to development and into production. We have the complete skill set. We think we’re in a good position right now to move the company forward,” he added.

Watch the full interview of Novo Resources Executive Co Chair Michael Spreadborough above.

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Azincourt Energy CEO Alex Klenman: Applying Artificial Intelligence to Uranium Exploration in the Athabasca Basin

“Nobody’s really applying artificial intelligence into the uranium exploration in the Athabasca, and so we might be a first mover,” said Azincourt Energy CEO Alex Klenman.

Azincourt Energy (TSXV:AAZ,OTCQB:AZURF,FWB:A0U2) CEO Alex Klenman discussed the company’s pioneering initiatives to bring artificial intelligence (AI), data mining and rapid algorithm work into mining exploration.

Azincourt Energy recently entered into an agreement with FOBI AI (TSXV:FOBI) to apply its established AI and applications “to support Azincourt’s goal of making discovery and delineating a resource at its East Preston uranium project,” according to a press release.

“Nobody’s really applying AI into the uranium exploration in the Athabasca, and so we might be a first mover. We’d like to embrace new technology and see how it can make us more efficient,” said Azincourt Energy CEO Alex Klenman.

According to Klenman, the ultimate goal is to utilize technology to allow Azincourt Energy to make discoveries more quickly, with less impact on the environment and with fewer dollars spent on drill holes and exploration initiatives.

The company recently closed the final tranche of a private placement worth $8 million, which will be used to fund the development of the East Preston uranium project. The flagship East Preston project covers over 25,000 hectares in the Western Athabasca Basin, Saskatchewan.

“We’re heading into our drill program in the winter, and we’re going to do 30 to 35 holes. We’re exceeding the entire pre-run here for four years. We have strong institutional support from funds, which allows us to get more aggressive. Our timing looks really good. We’re excited to be cashed up and doing our biggest drill program and the best market we’ve seen since 2011,” shared Azincourt Energy CEO Alex Klenman.

Watch the full interview of Azincourt Energy CEO Alex Klenman above.

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Last week's top-gaining stocks on the TSX were Sierra Metals, Champion Iron, SouthGobi Resources, Verde Agritech and Forza Petroleum.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was trading at 21,198.01 by midday this past Friday (November 26). It closed the period at 21,129.53.

The index opened lower as energy stocks fell on the back of declining oil prices, which hit a two month low on the last day of the trading week.

On Friday, investors turned to safe haven assets as concerns over a new coronavirus variant increased. Gold gained, but silver fell and was on track for a weekly loss.


Last week's five TSX-listed mining stocks that saw the biggest gains are as follows:

  • Sierra Metals (TSX:SMT)
  • Champion Iron (TSX:CIA)
  • SouthGobi Resources (TSX:SGQ)
  • Verde Agritech (TSX:NPK)
  • Forza Petroleum (TSX:FORZ)

Here's a look at those companies and the factors that moved their share prices last week.

1. Sierra Metals

Sierra Metals is a growing polymetallic mining company with copper production from its Yauricocha mine in Peru and its Bolivar and Cusi mines in Mexico.

The company did not release news last week, but shares of Sierra Metals increased 8.67 percent during the period and were trading at C$1.88 by the end of the week.

2. Champion Iron

Champion Iron is an iron ore exploration and development company with several major projects in the Southern Labrador Trough, considered the largest iron ore-producing region in Canada.The company is currently developing eight iron-rich projects, including its flagship Bloom Lake asset.

Last week, Champion Iron shares increased 8.29 percent to end at C$4.05.

3. SouthGobi Resources

Integrated coal supplier SouthGobi Resources is focused on its flagship Ovoot Tolgoi mine, the closest coal mine to China, located 46 kilometers north of China-Mongolia border. The company also holds mining and exploration licences for other metallurgical and thermal coal deposits in the South Gobi province of Mongolia.

Over the five day period, shares of SouthGobi Resources increased 7.46 percent to end the week at C$0.36.

4. Verde Agritech

Verde AgriTech is developing its Cerrado Verde project, located in Brazil. The project is the source of a potassium-rich deposit from which the company intends to produce solutions for crop nutrition, crop protection, soil improvement and better sustainability.

Last Wednesday (November 24), the company announced a 169 percent rise in revenue for Q3, and revised its target for the year upward. Verde Agritech saw its share price increase 6.29 percent last week to hit C$1.86.

5. Forza Petroleum

Forza Petroleum, formerly Oryx Petroleum, is an oil exploration, development and production company. It has a 65 percent participating interest in and operates the Hawler license area in Iraq's Kurdistan region.

Last week, shares of Forza Petroleum increased 6.25 percent to trade at C$0.17 by the end of the week.

Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 11:00 a.m. EST using TradingView's stock screener. Only companies with market capitalizations greater than C$50 million prior to the week's gains are included. Companies within the non-energy minerals and energy minerals are considered.

Don't forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Energy Fuels is a client of the Investing News Network. This artice is not paid-for content.

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Last week's top-gaining mining stocks on the TSXV were Adex Mining, Butte Energy, Noble Mineral Exploration, AurCrest Gold and International Iconic Gold.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) ended last week on the decline, shedding 27 points shortly after the morning bell on Friday (November 26). It closed at 942.62.

Global markets were plunged into uncertainty as news that a recently discovered COVID-19 variant known as omicron may be more contagious and potentially vaccine resistant.

Several European and Asian nations scrambled during the last full week of November to implement border and flight restrictions in an effort to curb the spread of the variant, which was first detected in South Africa.


Concern that the new mutation could hinder economic recovery weighed heavily on North American markets, with most of the leading indexes slipping lower Friday morning. The energy sector bore the brunt of the declines, with West Texas crude oil dropping 9 percent and Brent crude losing 8 percent.

Gold also faced headwinds from the uncertainty. It fell below US$1,800 per ounce on Tuesday (November 23), and remained under pressure throughout the week, only briefly rallying above US$1,800 early on Friday.

Last week's five TSXV-listed mining stocks that saw the biggest gains are as follows:

Here's a look at what may have moved their share prices during the period.

1. Adex Mining

Explorer Adex Mining is developing the Mount Pleasant mine property in New Brunswick. The site houses two distinct deposits: the Fire Tower zone, which hosts a significant molybdenum and tungsten resource, and the North zone, which contains the world's largest indium reserve and one of North America's largest tin resources.

Adex filed a number of documents on SEDAR last week, including its latest management's discussion and analysis document. Company shares rose 50 percent for the last full week of November, ending the session at C$0.02.

2. Butte Energy

Butte Energy was previously engaged in the acquisition, exploration and development of petroleum and natural gas reserves in Western Canada. The company sold its last remaining asset in 2017 and currently has no active operations other than the completion of reclamation activities on previously abandoned wells.

Late last year, Butte brought on a new board and management team that is actively evaluating potential opportunities, including those outside of the oil and gas industry.

Last Tuesday (November 23), the firm released its interim financial statement and management overview.

"In order to fund future operations or acquisitions, the company will need to raise additional funds by way of equity or debt. There is no assurance that the company will be able to raise such funds on terms acceptable to it," the overview reads. "These factors indicate the existence of a material uncertainty that may cast significant doubt about the Company's ability to continue as a going concern."

Shares of Butte rose 36.75 percent last week, ending the session at C$0.20.

3. Noble Mineral Exploration

Noble Mineral Exploration has holdings in Canada Nickel Company (TSXV:CNC,OTCQX:CNIKF), Spruce Ridge Resources (TSXV:SHL,OTC Pink:SRCGF) and MacDonald Mines Exploration (TSXV:BMK,OTC Pink:MCDMF).

Additionally, the diversified explorer has an interest in the Holdsworth gold exploration property near Wawa, Ontario. The property is comprised of approximately 72,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81. According to Noble, Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metals exploration targets at various stages of exploration.

Last week, the company entered into a letter of intent (LOI) with Canada Nickel Company to option mining claims in the Mann, Hanna, Duff and Reaume townships. The deal will also see Noble sell its MRO patents in Kingsmill and Mabee townships to the nickel-focused company.

"We are extremely pleased to be able to invite Canada Nickel, with their expertise, to secure this very large land package as it represents a 20km strike length where evidence of nickel, cobalt, PGM's, rhodium and rare earth minerals have been found to be present in work carried out by past explorers," said Vance White, president and CEO of Noble. The LOI news sent shares of Noble 22.83 percent higher, ending the trading week at C$0.13.

4. AurCrest Gold

AurCrest Gold is a mineral exploration company focused on the acquisition, exploration and development of gold properties. Presently, the gold-centered firm has a portfolio of assets in Ontario, including the Richardson Lake, Ranger Lake and Bridget Lake gold projects.

In mid-November, the explorer released results from a spring/summer program at its 100 percent owned Ranger Lake property. The program consisted of nine drill holes designed to test one of three high-priority targets.

"Eight drill holes encountered sulphide veins and stringer zones over 1-7 metre intervals hosted in a metasedimentary sequence," the report reads. "Veins and host rocks are sheared and folded, and display characteristics consistent with stages of post-mineralization deformation and partial melting, the latter inferred by quartz-alkali feldspar leucosomal bands."

AurCrest shares added 22.46 percent last week to trade for C$0.35.

5. International Iconic Gold

Exploration company International Iconic Gold is focused on developing its wholly owned San Roque gold project, located in the Rio Negro province of Northeastern Patagonia, Argentina.

According to the company, a gold, silver and base metals resource assessment released in July 2019 shows an inferred mineral resource of 32.9 million tonnes grading 1.42 grams per tonne gold equivalent (AuEq) for 1,499,900 AuEq ounces at a cut-off grade of 0.6 grams per tonne AuEq.

Last Wednesday (November 24), the firm increased its ownership to 100 percent in Minas San Roque (MSR), which owns the legal title to the mining claims comprising Iconic Gold's flagship San Roque property.

"MSR's ownership of the deposit and the prospective geology around it are protected by a system of mine rights. Three federal government mining concessions, known as 'Minas,' totaling 94.5 square kilometers (sq. km) have been granted to MSR," the late November press release states. "In addition, MSR controls eleven temporary mineral exploration licenses, known as 'Cateos,' covering 645 sq. km around the Minas."

By Friday, shares of Iconic Gold had climbed 20.77 percent to close at C$0.14.

Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday at 11:00 a.m. EST using TradingView's stock screener. Only companies with market capitalizations greater than C$10 million prior to the week's gains are included. Companies within the non-energy minerals and energy minerals are considered.

Don't forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Canada Nickel Company, MacDonald Mines Exploration, Noble Mineral Exploration and Spruce Ridge Resources are clients of the Investing News Network. This article is not paid-for content.

MARKETS

Markets
TSX21125.90-487.28
TSXV944.05-31.53
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NASD15491.66-353.57
ASX7279.30-128.00

COMMODITIES

Commodities
Gold1796.42+1.18
Silver23.41+0.10
Copper4.34+0.04
Palladium1799.62+15.12
Platinum956.17-23.83
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Heating Oil2.18+0.09
Natural Gas5.09-0.38

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