Keras Resources (LON:KRS) – CORP: Klondyke update
Market Cap: £6.5m; Current Price: 0.45p
Visible gold observed in one hole
Keras Resources has completed a 600m drill programme at its 100% owned Klondyke Gold Project, located in Australia.
Visible gold was identified in one hole.
Results are expected within six weeks.
NORTHLAND CAPITAL PARTNERS VIEW: Keras Resources continues to rapidly advance the Klondyke Gold Project completing its maiden drill programme within one month of acquiring the project. The presence of visible gold is an encouraging development for the Company, and assay results are expected in the new year. This initial drill programme was designed to finalise the plans for a resource expansion drill programme, targeted for early 2017. The next drill programme will focusing on increasing the JORC compliant mineral resource estimate of 374,000oz Au at a grade of 2.08g/t.
Premier African Minerals (LON:PREM) – SPECULATIVE BUY*: RHA update
Market Cap: £6m; Current Price: 0.3p
Open pit contained metal up 393%
The maiden mineral resource estimate for the underground mine is 1.3mt at a grade of 4.25kg/t.
Potential mine life of 40 years.
CHART 1: GRADE, VOLUME AND CONTAINED TUNGSTEN OF A SELECTION OF PROJECTS
NORTHLAND CAPITAL PARTNERS VIEW: A very positive development for Premier African Minerals. Importantly, while the Company has increased the tonnage of the open pit mineral resource estimate by 216% to 20.9mt from 6.6mt, this has not been done at the expense of the grade which also increased by 55% to 2.34kg/t (0.23% WO3) from 1.51kg/t (0.15% WO3). As a result, contained metal in the open pit increased by 393% to 48,864t from 9,916t. The maiden mineral resource estimate for the underground operation is 1.3mt at a very high grade of 4.25kg/t.