In this week’s Stockhouse Gold Report, we take a look at news from four junior or exploration-stage mining companies, whose focus on asset development significantly de-risks owning their stocks today.
We begin with Amex Exploration (TSXV:AMX), which recently yielded up to 200.80 grams per ton (g/t) of gold over 0.65 metres during a grade control program for upcoming bulk sampling at its 1.66-million-ounce Perron project in Quebec. The company is preparing to explore the geologically similar Perron West, and also owns a pair of additional projects in the province surrounded by gold mining companies.
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By the ounce
At the time of writing on Wednesday, the price of gold was US$4,758.46, according to data from ADVFN, up from US$4,575.03 in our March 25th report, supported by steady safe-haven buying spurred on by escalating violence in the Middle East and higher oil prices, though investors have their eyes on higher energy prices turning central banks hawkish, which would make gold more unattractive compared to yield-bearing assets.
This week in gold
Another junior miner that put its best foot forward this week was Onyx Gold (TSXV:ONYX), with the micro-cap harvesting further exploration upside at its district-scale Munro-Croesus project near Timmins, Ontario, discovering a new high-grade zone 600 m to the northwest of known mineralization delivering up to 99.5 metres at 1.2 g/t gold. Seven reconnaissance drillholes also produced intercepts prospective for further exploration. Onyx rounds off its portfolio with the Golden Mile property, strategically located nine kilometers from Newmont- Goldcorp’s multi-million-ounce Hoyle Pond deposit in the Timmins gold camp, as well as a quartet of Yukon-based properties with multi-kilometre gold-in-soil anomalies.
West Red Lake Gold Mines (TSXV:WRLG) is also building a data-driven thesis for investors, with new drilling results from its Rowan project in Ontario’s Red Lake Mining District, highlighted by 1.62 m grading 19.83 g/t gold, holding the potential to significantly increase mined tonnage under the pre-feasibility mine design and drastically improve project economics. The company has already proven itself capable of ushering a project across the mining lifecycle, reaching commercial production at its nearby Madsen mine earlier this year.
We end this week’s gold report with the latest episode of Stockhouse’s 5-Minute Investor Podcast, which features profiles on Cameo Resources (CSE:MEO) and Nevada King Gold (TSXV:NKG), a pair of junior mining companies with multi-million-ounce potential actively exploring projects within some of the world’s top gold districts.
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