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March 16, 2023
Colibri Resource Corporation (TSXV: CBI) (OTC Pink: CRUCF) ("Colibri" or the "Company") is very pleased announce the strategic acquisition of the "Plomo Gold" property located in the Caborca Gold Belt, northwest Sonora, Mexico.
HIGHLIGHTS INCLUDE:
- The Plomo property covers an area of approximately 4,260 hectares ("Ha") and is contiguous with the Company's Evelyn Property. The additional land increases Colibri's footprint by 842% to a total of 4,766 hectares.
- The Plomo and Evelyn properties are located in the 500 km long, northwest trending Caborca Gold belt which includes the > 15 million ounce La Herradura Mine, located 30 km west of Plomo and the > 2 million ounce Noche Buena Mine located approximately 8 km southwest of Plomo.
- The current (historical) database totalling 1,853 surface rock samples includes 524 samples greater than 0.1 grams per tonne ("g/t") Au, 132 samples greater than 1.0 g/t Au, and 15 high grade samples greater than 10 g/t Au. Surface exploration including prospecting, mapping, and rock sampling since 2007 has resulted in the identification of 9 target areas on the Plomo property.
- Underground sampling completed in the adit at the Banco de Oro prospect in 2008 are reported to have included 298.0 g/t Au over a chip length of 2.4 metres.
- The Plomo property has been the subject of only very limited exploration drilling, completed in 2008, with a total of 1,570 meters completed in 10 holes. A highlight of the drilling is the intercept of 0.66 g/t Au over an intersection length of 11.65 metres ("m") completed in the San Perfect target area.
- The Plomo property has had small scale artisanal mining including, pits, adits, and placer mining dating back to the 18th century. First recorded exploration was in 2006 and the property has been the subject of only episodic exploration since that time.
- Due diligence mapping and sampling completed by Colibri geologists has confirmed vein style mineralization consisting of veins, veinlets, and vein stockworks, altered host rocks that include intense silicification, sericite, disseminated pyrite, and locally tourmaline bearing stockworks and breccias.
- Compilation and due diligence related field work completed by Colibri has provided the foundation for continued exploration planning which includes the prioritization of drill targets on the newly combined Evelyn-Plomo property, the planning and execution of field exploration programs to advance targets to the drill stage, and property scale surveys to completely evaluate and realize the property potential.
Ron Goguen, President & CEO of Colibri commented, "Plomo is a great addition to our property portfolio in Sonora. We have been very encouraged with the progress made on our Evelyn property over the last 18 months and the acquisition of Plomo provides us with a much expanded footprint for discovery. Our technical due diligence on the Plomo property confirmed significant continuity of alteration and structure especially in the San Perfecto target area and most significantly confirms the application of our exploration model developed to date through our work at Evelyn."
Plomo Location and Geological Setting
The Plomo Gold property is located in northwestern Sonora, approximately 50 kilometres ("km") northwest of the town of Caborca (Map 1). The Plomo property consists of 2 exploration concessions covering an area of 4,260 Ha located immediately to the east of the Company's Evelyn property. The Plomo property is located within the Caborca Gold belt which consists of vein, replacement, and disseminated styles of Au mineralization interpreted as Orogenic type gold mineralization emplaced during the Laramide Orogeny. Major deposits currently or recently in production include La Herradura, San Francisco-Llano, El Chante, Soledad-Dipolos, and Noche Buena (see map 1). The Caborca Gold belt remains a very active exploration district with development projects occurring at Tajitos (920,000 Oz Au Indicated Resource and 173 Oz Au Inferred Resource).
Map 1: Location of Plomo & Evelyn within Caborca Gold Belt
Plomo Historical Exploration and Results
The Plomo property has been the object of historical, very small scale mining activity consisting of test pits and adits and likely minor gold production thought to date back to the 18th century. It appears that modern exploration and evaluation of Plomo was initiated with geological mapping and sampling in 2006 with the collection and analyses of several hundred out crop samples. Mapping, sampling, and assaying of outcrop grab samples was completed in 2007 and 2008 also with the collection and analyses of several hundred samples. Diamond drilling was completed on the Plomo property during 2008 with the completion of 10 holes totalling 1,570 m. The next recorded exploration on the property was 2012 with the further collection of outcrop samples and mapping and during this time geological mapping completed to date was compiled. The next phase of work recorded was completed in 2021 and consisted of further geological mapping and sampling as well as 14.1 line kilometres of Induced Polarization ("IP") survey which borders the eastern boundary with Evelyn.
The field work completed on the Plomo property since 2006 has resulted in the collection of a large number of high grade outcrop samples (Figure 2). A total of 1,853 surface rock samples includes 424 samples greater than 0.1 grams per tonne ("g/t") Au, 132 samples greater than 1.0 g/t Au, and 15 high grade samples greater than 10 g/t Au. The sampling has resulted in the identification of 9 prospect areas on the Plomo property (Figure 2).
Figure 2 - Evelyn & Plomo Outcrop & Trench Grab Samples
Colibri has completed compilation of historical exploration data and information and has completed due diligence field work. Based on this work, Colibri has prioritized targets for continued exploration on the Plomo property.
Highlights include:
- The Banco de Oro prospect area occurs over an area of approximately 1,000m x 450m which includes a narrow south-southeast striking and shallow west dipping open cut developed on surface over an approximately 70 m strike length. The extent of underground development is unknown to the Company. Numerous historical surface grab samples > 1 g/t, including 5 samples > 5 g/t Au, from Banco de Oro form a north-northeast trend over an approximately 1 km distance. Historical sampling of the fault zone exposed in the open cut at surface and underground returned 298.0g/t Au over 2.35 metres, 15.1g/t Au over 0.65 metres, 14.5g/t Au over 0.80 metres and 11.0g/t Au over 0.60 metres. Mineralization at Banco de Oro consists of brecciated quartz veins hosted in foliated sericitized rhyolite and is interpreted to be at the intersection northwest trending and northeast trending fault zones. The Banco de Oro is a priority target area with the objective of developing a drill plan.
- The San Perfecto target includes numerous grab samples with Au > 1 g/t occurring over a over a NE-SW trend length of approximately 950 m and a NW-SE trend length of approximately 700m and includes several samples > 5 g/t Au (see Figures 2 and 3). The San Perfecto area is the target of recent alluvium placer mining and contains several older pits of uncertain age. Due diligence field work by the Company confirms that the area is underlain by well developed and continuous zones of quartz-sericite-hematite+/- pyrite alteration and is characterized by numerous faults and shears zones trending both NE and NW. Two drill holes have been completed in the San Perfecto target area one of which which intersected 0.66 g/t Au over 11.65 m. The San Perfecto area is coincident on a NW trend with the Company's Sahuaro target on the Evelyn property. The San Perfecto is a priority target area with the objective of developing a drill plan. As a priority, the Company will also be evaluating structural controls and the potential continuity of the San Perfecto and the Evelyn's Sahuaro zone along a NW trending structural domain.
Figure 3 - San Perfecto Area - Grab Sample Map
- The Pavorreal target is located NE of the San Perfecto target area and similarly contains zones of pervasive quartz-sericite-hematite-pyrite alteration. However, historical work also recognizes tourmaline alteration including tourmaline in NW trending structures reported to be traced over a 600 m strike length and containing anomalous gold values including 5.82 g/t Au. Due diligence mapping by the Company confirms the presence of tourmaline-quartz alteration locally forming overprinting stock work and breccia textures. Preliminary observations by the Company indicate that the quartz-sericite-pyrite + tourmaline alteration is hosted, at least in part, by granodiorite. The Pavorreal is a priority target area to complete advanced geological mapping and sampling with the objective of advancing the target to the drill stage.
- The Bonancita target area is located in the north-central part of the property northeast of the San Perfecto and Pavorreal targets and consists of 4 prospect areas; Bonancita, and Bonancita NW1, NW2, and NW3. Historical work in the Bonancita target area notes very strong NW trending foliation development. The extent and significance of the foliated zone remains unknown to the Company. However, the Company notes that three of the occurrences, Bonancita, and Bonancita NW1, and NW2, which all contain historical grab samples greater than 1 g/t Au, form a well defined NW trending linear. Compilation by the Company confirms that the alignment of the 3 prospects, is coincident with both a strong topographic lineament and with a strong, NW trending, regional scale magnetic gradient lineament. Recent exploration reports on Plomo have recommended drilling at both the Bonancita NW1 and NW2 prospects. Colibri views the Bonancita target area as an earlier stage opportunity to evaluate the potential for a large gold system through geological mapping and possibly geophysics to support future drill hole planning.
Plomo Geology and Mineralization
The Plomo property is underlain by a variety of rock types that include Paleoproterozoic metamorphic rocks, a sequence of Jurassic volcanic rocks ranging in composition from andesite to rhyolite, and intrusive rocks that include diorite, granodiorite, and monzonite. Based on the Company's due diligence data compilation and field work, and correlation with mapping completed on the Evelyn property, Colibri interprets the intrusive rocks to be part of both the Jurassic volcanic-sedimentary sequence and the subsequent Cretaceous/Paleocene Laramide tectonic-magmatic event.
Structures previously mapped on the Plomo property trend dominantly northwest-southeast and to a lesser extent to the northeast-southwest. These fault and shear zone orientations are recognized as a regional control on the occurrence and distribution of gold mineralization in the Caborca Gold belt. Through compilation, evaluation of available geophysical data sets, and field due diligence work, Colibri correlates faults and structural domains mapped on the Evelyn property onto the Plomo property. Preliminary evaluation of geophysical data sets suggests that a major NNW-SSE trending structure, mapped and also interpreted from resistivity data, on the Evelyn property is continuous on the southwestern Plomo property.
Gold mineralization on the Plomo property consists of quartz veins, veinlets, and stockworks with disseminated pyrite, oxidized pyrite associated with dominantly quartz-sericite-hematite-pyrite alteration. Anomalous gold values from historical work are also associated with quartz-pyrite-tourmaline bearing alteration assemblages. Colibri's due diligence field work confirmed the presence of historically sampled gold mineralization to be hosted by multiple rock types including andesite, diorite, granodiorite, and rhyolite.
Ian McGavney, COO of Colibri commented, "The Plomo property, like our Evelyn property, has a great address. It contains all the ingredients that characterize large gold deposits in the Caborca Gold Belt and contains targets we consider to be drill ready. We are of the opinion that while Plomo been the object of very well executed surface exploration programs that have advanced very promising prospects, it has not yet seen a sustained and systematic approach to exploration. Minimal drilling has been completed and it was completed very early on in the exploration history of the property without the benefit of recent work. However, we are of the opinion that the work completed to date provides an excellent framework for continued exploration and combined with our Evelyn property provides over 4,776 Ha from which to prioritize drill programs and ground exploration programs."
Plomo and Evelyn Next Steps
The compilation and due diligence field work completed in the acquisition phase provides an excellent start to exploring Plomo. The review has provided the Company a much greater understanding of the high quality targets on the Plomo property. The Company is continuing its geo-compilation with the objective of completing a seamless dataset across the Evelyn-Plomo property and further developing its exploration model to include observations and data from Plomo.
The combined Evelyn-Plomo property provides Colibri with discovery opportunities that range from advanced (drill ready), intermediate, and early stage. The planned exploration strategy includes:
- Prioritization of drill targets
- Development of drill targets from existing prospects
- Property wide evaluation
Prioritization of drill ready targets: The combined property provides a number of high-quality drill targets. On the Evelyn side targets include the Main Zone and El Sahuaro. On the Plomo side, drill targets include Banco de Oro, San Perfecto, and the Pavorreal prospects. The Company will be evaluating these targets, deriving drill plans for each.
Development of additional drill targets: Current and planned exploration on the Evelyn property include 'short hole' drilling under alluvial cover immediately north of the Main Zone, evaluation of the Central Evelyn prospect, evaluation of a potentially major structure mapped and interpreted from a very strong resistivity gradient, and evaluation and drill testing a very well defined soil anomaly. On the Plomo property, the compilation completed to date points to the Bonancita target area and potentially related large NW trending structure as an area for continued exploration to develop a drill target.
Property Wide Evaluation: A near term priority for Colibri is the completion of a seamless (GIS) compilation of all Evelyn and Plomo geology, geophysics, and geochemistry. In addition to other possible initiatives, the Company anticipates completing a high resolution airborne magnetic survey over the Plomo property, similar to that completed at Evelyn in 2021, completing property wide geological mapping, and completing a property wide soil geochemistry survey. The Company is of the opinion that this work will support the interpretation of drill ready and advanced targets as well as providing the opportunity for early stage discovery.
QUALIFIED PERSON
Jamie Lavigne, P. Geo and a Director for Colibri is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical information in this press release.
ABOUT COLIBRI RESOURCE CORPORATION:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring and exploring prospective gold & silver properties in Mexico. The Company holds seven high potential precious metal projects of which five have planned exploration programs for calendar 2023.
For more information about all Company projects please visit: www.colibriresource.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.
For information contact:
Ronald J. Goguen, President,
Chairperson and Director,
Tel: (506) 383-4274,
rongoguen@colibriresource.com
The Conversation (0)
03 July
Bert Dohmen: Gold, Silver Key as Stock Market Bull Trap Looms
Bert Dohmen, founder and CEO of Dohmen Capital Research, sees physical gold and silver as key safe havens as a potential bull trap in the broad stock market plays out.
"We said we're probably going to go to a new high in a major, widely watched index like the S&P 500 (INDEXSP:.INX). It's going to be by a small amount a new high, and that's going to close the bull trap," he said.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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03 July
Top 5 ASX Gold Stocks of 2025
Gold continued to perform well through the second quarter of 2025, reaching a new all-time high of AU$5,425 per ounce on April 22.
The price surge has occurred amid volatile equity and financial markets since the start of the year, driven by concerns over a global trade war and escalating geopolitical tensions in the Middle East.
The rising gold price has also been supported by uncertainty over a looming debt crisis in the United States. Some investors have turned away from dollar-denominated haven assets, such as US Treasuries, in favour of precious metals like gold.
What implications do these circumstances hold for ASX-listed gold stocks? Read on to discover which companies have seen the biggest gains in 2025. Data for this article was retrieved on June 25, 2025, using TradingView's stock screener, and only companies with market capitalizations greater than AU$10 million at that time were considered.
1. Forrestania Resources (ASX:FRS)
Year-to-date gain: 469.23 percent
Market cap: AU$23.91 million
Share price: AU$0.074
Forrestania Resources is a gold, copper and lithium exploration company with projects in Western Australia. Since the start of the year, the company has been focused on gold exploration at its Bonnie Vale and Forrestania projects.
Bonnie Vale lies within the Eastern Goldfields. The property covers an area of 75 square kilometres and hosts multiple zones of mineralization, including the Ada Ann prospect. Historic drilling at the site has seen assays returned up to 12.8 grams per tonne (g/t) gold over 4 metres.
Shares started to gain after the company announced on February 13 that it had begun follow-up drilling at the prospect and would build on its maiden program at the site. The most recent results from the program were released on May 9, with the company reporting a highlighted assay of 4.3 g/t gold over 7 metres, including 25.6 g/t over 1 metre.
The company said the results showed some thickening of the mineralized zones at depth, adding that the known mineralization had been extended to the north and south, with the prospect open in all directions.
The company has also been working on its Lady Lila gold prospect at its Forrestania gold-lithium project. The prospect, located in the Southern Cross Greenstone Belt, has a strike length of 2 kilometres and a width of 700 metres. According to the company website, the deposit has an inferred resource of 24,000 ounces of gold from 514,000 tonnes of ore with an average grade of 1.4 g/t gold.
On May 12, Forrestania announced both an upcoming drill program at the Lady Lila prospect and the company's acquisition of a tenement immediately adjacent to it.
Additionally, Forrestania reported on May 16 that metallurgical engineer David Geraghty joined the company board as a non-executive director. The company noted that he is a highly experienced mining executive and brings a background in project development and operational expertise.
The company's share price climbed in the following weeks to reached a year-to-date high of AU$0.085 on May 28.
2. Native Mineral Resources (ASX:NMR)
Year-to-date gain: 361.54 percent
Market cap: AU$169.89 million
Share price: AU$0.18
Native Mineral Resources is a gold exploration and development company advancing its Charters Tower gold project in Northeast Queensland, Australia, to production in Q3 of this year. It also owns the Palmerville gold-copper project in the same state.
Native acquired Charters Tower in November 2024 for AU$18.9 million and a 2 percent royalty on gold production .
The project consists of 17 granted mining leases, one mineral development licence, six exploration permits and one exploration permit application. The site hosts the Far Fanning and Blackjack deposits, both of which have a historic exploration background. Additionally, Blackjack is home to a 340,000 tonne per annum gold processing plant.
The company announced on June 17 that it was on schedule for first gold pour at Blackjack by the end of July. At that time, the open pit was established, dry commissioning of the plant was underway and water and air services installations were nearing completion. Infrastructure and surface preparation is also on track to support the commencement of mining in Q3 2025.
As for Palmerville, Native Mineral Resources announced June 16 that it was granted a new exploration permit that expanded the project. The company is planning fieldwork at the project later this year.
Shares in Native Mineral Resource reached a year-to-date high of AU$0.22 on June 17.
3. Trek Metals (ASX:TKM)
Year-to-date gain: 290.91 percent
Market cap: AU$42.78 million
Share price: AU$0.086
Trek Metals is an exploration company with several assets throughout Australia, including the highly prospective Christmas Creek project. The property covers an area of 1,183 square kilometres in the Kimberley Region of Western Australia, and, according to Trek, has significant district-scale potential for gold and rare earth elements.
The company wholly acquired Christmas Creek as part of its acquisition of ArcherX in October 2023. Newmont (TSX:NGT,NYSE:NEM) had previously earned a 75 percent interest in the project from ArcherX, but returned it as part of a portfolio rebalancing.
Shares in Trek gained significantly starting on March 17 after the company reported visible gold in drill chips from its 2024 exploration campaign at the Martin target. The chips came from two previously reported high-grade intervals, one of which graded an average of 12.66 g/t gold over 10 metres.
Trek said it decided to fast-track drilling based on this discovery, along with down-hole televiewer data that confirmed a series of stacked veins.
Following surveying and earthworks in preparation of the next phase, Trek commenced a major drill at the site on June 4, targeting extensions of the Martin target while also focusing on mineralization from other targets.
The company followed up with an announcement on June 25 that it had secured an additional rig to enlarge the drill program for deeper exploration and to obtain more detailed structural information.
Shares in Trek reached a year-to-date high of AU$0.092 on June 23.
4. African Gold (ASX:A1G)
Year-to-date gain: 224.56 percent
Market cap: AU$86.85 million
Share price: AU$0.185
African Gold is a gold exploration company with projects in Côte d’Ivoire. The company’s primary focus in 2025 has been on the Blaffo Guetto prospect at its Didievi gold project in Central Côte d’Ivoire.
During the first half of 2025, African Gold conducted a 10,000 metre diamond drill program at the site, with the intention of upgrading its July 2024 maiden inferred resource of 452,000 ounces of gold from 4.93 million tonnes at an average grade of 2.9 g/t gold.
On June 23, the company announced that its efforts had yielded a significant boost to its resources, reporting an updated inferred resource of 989,000 ounces from 12.4 million tonnes, with an average grade of 2.5 g/t, using a cut-off grade of 0.8 g/t. The announcement added that the gold system has been primarily tested at near-surface depths of approximately 300 metres and has demonstrated mineralization open in all directions.
African Gold has also been drilling at other targets at Didievi this year that are outside the resource area. The company reported the discovery of a large gold system at the Poku Trend in April, and confirmed continuous gold mineralisation over 600 metres at the Pranoi prospect in May.
In addition to exploration work, on March 25 African Gold announced a strategic partnership with Montage Gold (TSX:MAU), a fellow gold company in Côte d’Ivoire advancing its Koné gold project towards production in 2027, as well as a private placement for up to AU$1.84 million with separate investors that was later upsized to AU$2.7 million.
Montage and insiders would acquire a large stake in African Gold through a share swap of 2.03 million shares of Montage for 92.38 million shares in African Gold, both valued at AU$6.47 million, as well as through a placement of 12.37 million shares to Montage insiders worth AU$866,000. Following the completion of the deal on June 13, Montage holds a 17.5 percent stake in African Gold.
Shares in African Gold reached a year-to-date high of AU$0.195 on June 26.
5. Torque Metals (ASX:TOR)
Year-to-date gain: 203.92 percent
Market cap: AU$76.35 million
Share price: AU$0.145
Torque Metals is a gold exploration company working to advance its flagship Paris gold project in Western Australia. The property covers an area of 700 square kilometres near Kalgoorlie.
In June, Torque completed its merger with Aston Minerals that was announced on January 28. The combined business controls 1.75 million ounces of gold resources between Torque’s Paris project and Aston’s Edleston gold project in Ontario, Canada.
The company has spent the first half of 2025 focused on exploration work at its Paris project, announcing the discovery of parallel lodes on March 6. The trends were identified through shallow drilling, with one located 80 metres southeast of the main Paris deposit and the other,= 100 metres northwest.
Initial assays from the drilling returned highlighted drill samples from the southeastern lode of 4.04 g/t gold over 4 metres, which included an intersection of 7.39 g/t over 2 metres. Meanwhile, the northwestern lode returned a highlighted sample of 1.02 g/t over 7 metres.
The company furthered the exploration work in April through the use of down-hole electromagnetic surveys. It reported on May 5 that the surveys detected large off-hole conductors "extending well beyond the current mineral resource estimate," indicating potential for resource growth. Due to the success of the surveys thus far, Torque said it plans to continue using the method over further targets at its project.
The most recent announcement from the project came on May 8, when the company reported that it had been awarded a co-funded diamond drilling grant through Western Australia’s Exploration Incentive Scheme. The company will receive AU$144,500 toward drilling for gold extensions west of the known zones.
Shares in Torque reached a year-to-date high of AU$0.155 on June 26.
FAQs for ASX gold stocks
How to invest in gold on the ASX?
As Australia is a top gold-mining jurisdiction and the country's government is supportive of mining, there are plenty of options for investing in gold on the ASX. Between gold miners operating major projects and gold explorers hunting for the next significant gold discovery, investors can choose what kind of company matches their risk appetite and portfolio.
When looking for a gold company to invest in, be sure to do your due diligence and learn about the company's key characteristics, including its leadership team, its finances and the geology of its projects.
How to buy gold stocks on the ASX?
Once you’ve selected a company or multiple companies to invest in, you can buy gold stocks using trading apps with access to ASX stocks, or you can get the help of a stock broker.
How to buy gold ETFs on the ASX?
For investors who prefer broader exposure to a sector, exchange-traded funds (ETFs) are a good option, and the ASX is home to multiple gold-focused ETFs. Because they are traded on exchanges like stocks, you can buy ETFs using the same methods described above. ASX-listed gold ETFs to consider include:
- ETFS Physical Gold (ASX:GOLD), which promises "low-cost access to physical gold via the stock exchange" and can be redeemed for physical gold.
- Perth Mint Gold (ASX:PMGOLD), which tracks the international price of physical gold.
- BetaShares Gold Bullion (ASX:QAU), which also tracks the physical bullion price.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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03 July
Sun Summit Minerals: Advancing District-scale Gold and Copper Projects in British Columbia
Sun Summit Minerals (TSXV:SMN,OTCQB:SMREF) is a Canadian mineral exploration company advancing district-scale gold and copper projects in British Columbia. Its flagship JD Project, located in the prolific Toodoggone district, is the focus of an aggressive 5,000-meter drill program in 2025 targeting a potential multi-million-ounce epithermal gold-silver system.
With funding in place, a five-year exploration permit secured, and an on-site camp established, Sun Summit is executing a disciplined strategy to build scale, unlock resource value, and deliver returns to shareholders. Reinvigorated by a revamped leadership team and a refined vision, the company is leveraging high-grade, strategically located assets to drive long-term growth.
The JD and Theory projects cover over 25,000 hectares in the heart of British Columbia’s Toodoggone mining district, one of Canada’s most prospective regions for epithermal gold-silver and porphyry copper-gold systems. The district hosts several significant deposits, including Thesis Gold’s Ranch and Lawyers projects (4.7 Moz gold equivalent, ~C$250 million market cap), Centerra Gold’s Kemess underground development, and TDG Gold’s Shasta-Baker project. The area is well supported by infrastructure, including hydroelectric grid access, all-season roads, and the nearby Sturdee airstrip.
Company Highlights
- Aggressive Discovery Strategy: Sun Summit Minerals is actively advancing the JD and Buck projects in BC, targeting epithermal gold-silver and porphyry copper-gold systems. A fully funded 5,000-meter drill program at JD underway in 2025, aiming to define a multi-million-ounce resource.
- Strategic Location: Both assets are situated in prolific and mining-friendly regions of British Columbia. The flagship JD project lies in the Toodoggone district—home to Thesis Gold and Centerra’s Kemess Mine, while Buck is near the Blackwater, Huckleberry, and Equity Silver mines in central BC.
- Re-rate Potential Opportunity: Trading at just ~$7/oz gold equivalent (EV/oz) based on Buck alone, with no value currently ascribed to JD, the company represents a deep value opportunity compared to the next-door neighbour Thesis Gold trading at ~$50/oz. Success at the drill bit from the ongoing drill program at JD could drive the potential re-rating.
- Fully Funded for 2025: A recent C$10M raise (May 2025) enables a robust exploration program, including drilling, geophysics, and soil sampling. The company is well-positioned to achieve its 2025 and 2026 exploration milestones without further dilution.
- Experienced, Capital Markets-Savvy Leadership: CEO Niel Marotta brings capital markets acumen from Fidelity and Orezone. The broader team includes senior geologists and advisors with decades of success in gold discoveries and mine development in BC.
- Positioned for Consolidation: With majors like Freeport, Centerra, and Skeena investing heavily in adjacent properties, Sun Summit is strategically located and advancing at the right time in the Lassonde Curve to benefit from industry-wide M&A and consolidation trends.
This Sun Summit Minerals profile is part of a paid investor education campaign.*
Click here to connect with Sun Summit Minerals (TSXV:SMN) to receive an Investor Presentation
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02 July
High grade gold in early stage drilling at Sandstone
02 July
Meeka Metals Reports First Gold Pour at Murchison Project
Meeka Metals (ASX:MEK) has poured the first gold at its flagship Murchison project in Western Australia.
The pour happened on Tuesday (July 1), and in a Wednesday (July 2) press release, the company said the project’s production is in line with schedule, happening within 12 months of breaking ground.
Murchison sits near several multimillion-ounce gold mines and hosts a large, high-grade resource of 1.2 million ounces at 3 grams per tonne (g/t) gold on granted mining leases.
Meeka released a definitive feasibility study in December 2024, outlining a 10 year production plan for the project. Up to 76,000 ounces per annum are targeted, with an average of 65,000 ounces approximated for the first seven years.
The study also focused on restarting the Andy Well mill, with site activity commencing during Q1 2025. Process plant commissioning followed in the next quarter, with the first gold pour following its projected schedule of mid 2025.
“It is an impressive achievement by the team to deliver first gold on time and within 12 months of breaking ground at the Murchison,” said Managing Director Tim Davidson. “We are now focused on ramping up gold production toward our targeted 80 kilo ounces per annum with the arrival of the third dig fleet and expanded open pit mining plan underway.”
Drilling at Turnberry Central, part of Murchison, was announced on June 10. Results include 30 metres at 1.09 g/t gold from 29 meters, including 9 meters at 2.45 g/t gold.
The company announced in mid-June that process plant commissioning was underway at Murchison.
Underground mining at Murchison’s Andy Well mill is set to begin in the third quarter of 2025. As per a company presentation shared by Meeka on June 19, Andy Well hosts a mineral resource of 505,000 ounces at 8.6 g/t gold.
First ore from Andy Well is expected in the third quarter of this year.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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02 July
Sun Summit Minerals
Investor Insight
Sun Summit Minerals is targeting the delineation of a multi-million-ounce gold-silver resource at its flagship JD project. With strategic positioning in an emerging consolidation hotspot, compelling valuation metrics, and a track record of discovery, Sun Summit is primed to deliver substantial value creation in the coming quarters.
Overview
Sun Summit Minerals (TSXV:SMN,OTCQB:SMREF) is a Canadian mineral exploration company focused on developing its district-scale gold and copper projects in British Columbia. The company’s flagship JD Project, located in the Toodoggone district, is undergoing an aggressive 5,000-meter drill campaign in 2025 aimed at delineating a multi-million-ounce epithermal gold-silver system.
Complementing JD is the company’s Buck project, a large, bulk-tonnage gold-silver system near Houston, BC, with an initial NI 43-101 resource estimate and significant exploration upside.
With capital in hand, a five-year exploration permit secured, and a camp established at JD, Sun Summit is executing a focused strategy to build scale, unlock resource potential and drive shareholder value. The company has taken lessons from its past and re-emerged with a sharpened vision, an overhauled team and assets that are not only high-grade but strategically located to create shareholder value.
Company Highlights
- Aggressive Discovery Strategy: Sun Summit Minerals is actively advancing the JD and Buck projects in BC, targeting epithermal gold-silver and porphyry copper-gold systems. A fully funded 5,000-meter drill program at JD underway in 2025, aiming to define a multi-million-ounce resource.
- Strategic Location: Both assets are situated in prolific and mining-friendly regions of British Columbia. The flagship JD project lies in the Toodoggone district—home to Thesis Gold and Centerra’s Kemess Mine, while Buck is near the Blackwater, Huckleberry, and Equity Silver mines in central BC.
- Re-rate Potential Opportunity: Trading at just ~$7/oz gold equivalent (EV/oz) based on Buck alone, with no value currently ascribed to JD, the company represents a deep value opportunity compared to the next-door neighbour Thesis Gold trading at ~$50/oz. Success at the drill bit from the ongoing drill program at JD could drive the potential re-rating.
- Fully Funded for 2025: A recent C$10M raise (May 2025) enables a robust exploration program, including drilling, geophysics, and soil sampling. The company is well-positioned to achieve its 2025 and 2026 exploration milestones without further dilution.
- Experienced, Capital Markets-Savvy Leadership: CEO Niel Marotta brings capital markets acumen from Fidelity and Orezone. The broader team includes senior geologists and advisors with decades of success in gold discoveries and mine development in BC.
- Positioned for Consolidation: With majors like Freeport, Centerra, and Skeena investing heavily in adjacent properties, Sun Summit is strategically located and advancing at the right time in the Lassonde Curve to benefit from industry-wide M&A and consolidation trends.
Key Projects
JD & Theory Projects
The JD & Theory projects span more than 25,000 hectares in the heart of the Toodoggone mining district in north-central BC, one of Canada’s most prospective belts for epithermal gold-silver and porphyry copper-gold systems. The district is home to Thesis Gold’s Ranch and Lawyers deposits (4.7 Moz gold equivalent, C$250 million market cap), Centerra’s Kemess underground development, and TDG Gold’s Shasta-Baker project. Infrastructure around the project includes hydroelectric grid access, the nearby Sturdee airstrip and all-season roads.
The JD project hosts a 4.5 km mineralized corridor, known as Creek-Finn, with multiple underexplored targets showing evidence of both high-grade veins and broad disseminated gold systems. Historic and recent drill highlights include:
- 2.1 grams per ton (g/t) gold over 122.5 m including 121 g/t gold over 1.5 m (CZ-24-004)
- 11.7 g/t gold over 22 m including 61.2 g/t gold over 4 m (CZ97-008)
- 7.3 g/t gold over 35.7 m including 215.4 g/t gold over 1 m (JD95-0472)
The Creek Zone features high-grade epithermal veins within broader disseminated zones, supported by strong IP anomalies and gold-in-soil results up to 12.2 g/t gold. The Finn Zone hosts near-surface mineralization with extensive historical drilling (~270 holes) and is open in all directions. Other targets include McClair (porphyry copper), East McClair (copper-gold skarn) and Moosehorn.
The 2025 program includes 5,000 meters of core drilling across 25 holes, 20 km of IP geophysics, 2,000+ soil samples, and full-scale camp operations. A five-year permit secured in April 2025 provides exploration continuity through 2030.
Camp setup at JD project
Sun Summit can earn 100 percent of the JD project by making staged cash/share payments and completing work commitments through 2029. With ~C$6 million earmarked for the project this year alone, Sun Summit is expected to fulfill its 2025 and 2026 earn-in obligations without additional equity raises.
Buck Project
The 100 percent owned Buck project spans 52,000 hectares and is located near key deposits, including Artemis Gold’s Blackwater (8 Moz gold), Imperial’s Huckleberry copper mine, and Newmont’s historic Equity Silver mine. Buck features near-surface bulk-tonnage gold-silver mineralization with porphyry copper-molybdenum potential at depth.
In February 2025, Sun Summit published its inaugural NI 43-101 mineral resource:
- Indicated: 1.15 Mt @ 0.519 g/t gold equivalent (19,100 oz)
- Inferred: 52.2 Mt @ 0.489 g/t gold equivalent (820,400 oz)
Mineralization remains open in all directions. Buck is considered a strategic asset providing leverage to rising gold prices and future transaction potential, but currently receives minimal capital allocation as JD is prioritized.
Management Team
Niel Marotta – Chief Executive Officer and Director
Niel Marotta has more than two decades of capital markets experience, including a successful tenure at Fidelity (FMRCo.), where he managed the top-performing Select Gold Fund and oversaw >$1 billion in AUM. He was previously VP at Orezone Resources, where he helped lead its C$350 million acquisition by IAMGOLD. Marotta has raised over $1 billion in financing and is driving Sun Summit’s transition from a legacy explorer to a discovery-focused value generator.
Brian Lock – Executive Chairman
A veteran of the mining industry with 40+ years of executive experience, Brian Lock has led multiple public companies, including Castle Peak Mining and Scorpio Gold. His expertise spans project development, M&A and corporate governance.
Waseem Javed – Chief Financial Officer
A seasoned mining CFO, Waseem Javed ensures disciplined capital deployment and financial controls. His experience spans junior explorers and mid-tier producers across Canada and the US.
Ken MacDonald – VP Exploration
Ken MacDonald is a registered professional geologist with over 30 years in mineral exploration and permitting in BC. Formerly with the BC Mines Branch and multiple juniors, he leads Sun Summit’s technical programs and NI 43-101 compliance.
Christopher Leslie – Technical Advisor
An expert in porphyry and epithermal systems, Christopher Leslie led the discovery of the 8 Moz Blackwater deposit while at Richfield Ventures, and later served as VP exploration for Tower Resources. He was instrumental in advancing the JD-Theory project during its prior ownership.
Robert D. Willis – Senior Advisor
Founder of several successful exploration companies, including Pioneer Metals and Manhattan Minerals, Robert Willis has 35+ years of technical and executive experience across North and South America.
Terry Salman – Strategic Advisor
Founder of Salman Partners and one of Canada’s most influential mining financiers, Terry Salman has backed dozens of successful juniors over a 40-year career in mining investment banking.
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