Gold Juniors

[JBmurc]

West Wits Mining (WWI) 2.5c
The gold minnow has taken a unique approach to the rush in the Pilbara to find the equivalent of South Africa’s Witwatersrand, a region that has produced 40 percent of the world’s gold.
True, West Wits has joined the throng pegging ground in the Pilbara, where watermelon seed nuggets lie waiting to be kicked with a Blundstone just below the surface.
But the company’s main pursuit of Witwatersrand mineralisation is in the actual Witwatersrand Basin, where it owns a producing open-cut project with a local partner.
As far as we can see, that makes West Wits the only ASX-listed stock with projects in the ‘real’ and ‘fake’ Witwatersrands.
Until recently, West Wits fortunes lay with a project in Irian Jaya (West Papua) called Derewo. While it’s still on the books, the venture stalled because of problems with the local partner, a common refrain for an Indonesian project.
West Wits’ Witwatersrand Basin Project (WBP) was mined by giant DRD Gold up until 2000, producing 41 million ounces at an average five grams a tonne gold over six conglomerate reefs.
But a sagging gold price and concerns about the post-apartheid political climate meant that DRD (as well as other majors) scurried elsewhere.
“They just opened the doors and ran, leaving 30,000 mine maps covered in owl poop,” says executive chairman Michael Quinert.
To date the open-cut phase has been a simple operation based on a contract miner and a toll treatment arrangement.
But it’s been a handy source of cash, generating $300,000 a month compared with the targeted $200,000-250,000 a month.
To supplement its current resource of 3.26 million tonnes West Wits has identified 17 open pit and underground targets, initially focusing on two.
West Wits also sits on two Pilbara projects, Tambina and Mt Cecelia which – you guessed it – “show similarity to the famous Witwatersrand gold deposits.”
Tambina has three granted mining licences and management is pondering a mining start up later in the year “once the geology team identifies suitable conglomerate-hosted targets”.
Meanwhile, investors can expect the small-scale South African stuff to fund the company for the next 12-15 months.
But the company is confident of finding more, citing an exploration target of 25,000-40,000 ounces. It harbours plans to be an eventual 100,000 ounce a year producer and we guess there’s nothing wrong with reaching for the stars.
While many miners have shunned South Africa because of its political and economic uncertainties, new Cyril Ramaphosa was sworn in without incident last month.
The Nelson Mandela associate is making the right noises to the business and mining community, although there a few nervous white farmers feeling less than comfortable and relaxed despite Peter Dutton’s pledge of support from across the seas.
While West Wits is generating useful cash, with production and cash flow in January and February in line with internal targets.
West Wits’ $10m market cap (including $2m of cash) looks cheap in comparison weith peers such as Stonewall Mining (SHJ), which has a three million ounce resource project in South Africa and is valued at $30m despite not yet being in production.
The king of the Pilbara stocks, Artemis Resources (ARV) is valued at $122m ahead of its plans to drill a super-deep hole of 3300 metres in its Balmoral tenement package.
This program is expected to provide clarity on the geology of the much-hyped Pilbara Witwatersrand story. In the meantime, the stock is in trading halt at the behest of the ASX.
Artemis and Canadian partner Novo Resources sparked the new-age Pilbara rush by finding ‘watermelon seed’ nuggets at its Purdy’s Reward project south of Karratha.

[Joshuatree]

Hows your Goldies going fellas? Many producers been tracking up nicely, DRM now following EVN and NST (not juniors)which had gone up much earlier. My explorer/ developers still in the hole though.Gold looks to be off a bottom on the 3/7 @ re $1238 oz. now US$1260 oz.

[JBmurc]

Not much love with my lot ...but I'm confident that will change over time and certainly before the years out...

[Vagabond47]

Waiting for quarterly results for BLK, hopefully this week, and hopefully kicks me back to where i bought in or above.

[Logen Ninefingers]

Not much love with my lot ...but I'm confident that will change over time and certainly before the years out...

http://www.abnnewswire.net/press/en/...ect-93783.html

Perth, July 10, 2018 AEST (ABN Newswire) - Intermin Resources Limited (ASX:IRC) ("Intermin" or the "Company") is pleased to announce excellent initial reverse circulation ("RC") drilling results from the 100% owned Binduli gold project, located 9km west of Kalgoorlie-Boulder in the heart of the Western Australian goldfields (see Figure 1 in link below).

HIGHLIGHTS

- Initial resource drilling completed at the 100% owned Binduli gold project area, 9km west of Kalgoorlie in the Western Australian goldfields

- To date, assays have been received from 25 Reverse Circulation holes or approximately half of the current program

- Significant downhole intercepts received to date from the Crake prospect include(see Note 1, 2 below):

o 28m @ 3.30g/t Au from 56m including 4m @ 15.10g/t Au from 64m (BRC18020)

o 20m @ 4.57g/t Au from 68m including 8m @ 8.38g/t Au from 80m (BRC18043)

o 28m @ 2.43 g/t Au from 104m including 8m @ 5.87 g/t Au from 124m (BRC18024)

o 36m @ 1.19g/t Au from 52m (BRC18034)

o 4m @ 3.24g/t Au from 48m, 16m @ 1.24g/t Au from 76m and 4m @ 1.29g/t Au from 108m (BRC18027)

o 18m @ 1.75g/t Au from 72m (BRC18029)

o 16m @ 1.81 g/t Au from 32m (BRC18033)

- Results show significant gold mineralisation over a 250m strike length and remains open along strike and at depth

- The geology is dominated by a large porphyry intrusive with significant zones of high grade gold mineralisation at relatively shallow depths

- Crake one of five high priority prospects at Binduli that have had limited drilling and remain relatively untested at depth

- A total of 5,000m was planned within the project area with 1m splits and further assay results expected in July and August

- Follow up drilling planned for the September and December quarters

- Binduli now joins Teal, Anthill and Blister Dam as a key project area for resource expansion and testing for new discoveries

Commenting on the results of the Binduli program, Intermin Managing Director Mr Jon Price said:

"To be intersecting excellent width and grade at relatively shallow depths in our initial program at Crake is extremely encouraging and we look forward to receiving the remaining assays from the drilling program in coming weeks and compiling an initial resource model."

[JBmurc]

Yes yet another promising project for IRC thats now 4 major Gold projects that all have potential to be put into production>>

[JBmurc]

Enjoying going over the latest Analyst reports and roadhouse article

https://www.intermin.com.au/wp-cont....-July-2018.pdf

https://www.intermin.com.au/wp-conte...rch-Report.pdf

Some pieces I esp like>>>


"We believe the Anthill project has the potential to be in production in 2020. The completion of milestones towards the development of the project should create significant additional value"

“We are working to grow the business to where we want to see ourselves in 18 to 24 months, holding emerging mid-tier status producing 100,000 ounces per annum, with a four to five-year mine plan,” Price said.

"December quarter will be all about new discoveries at Blister Dam where the company will be drilling an area not drilled since the 1990s. “There are not a lot of drill holes below 80 metres and where we have started to put some tester holes we are already hitting some very good grades,”

“The 25,000 metres of drilling at Teal has indicated four multiple, parallel structures sitting within a six-kilometre strike window,” Price continued. “We now know this is a very big system, from which we expect a continuous flow of drilling results and Resource updates and mine planning as we look to understand how big this system is, particularly at depth.”

The management team is highly experienced in mining development and the exploration of gold projects. We believe the company is well placed for the successful development of its projects. Given due diligence and valuation estimations based on discounted cash flows, we believe that Intermin’s fair share value lies between AUD 0.454 and AUD 0.482.

Be more than happy to see 45-48c pre MAR19

[JBmurc]

Geez is bloodbath in the jnr-micro cap ASX Gold sectors while the AUD GOLD price is less that 10% off its all time 2011 highs ____work that one out !!!!!!!!!!!!!!!!!!!!!!!

[Joshuatree]

Yeah even my top ranked producers NST and EVN with Aus mines with GREAT margins have not escaped, its right across the board now , on my watch list anyway.Any exceptions out there?

[Joshuatree]

DRM

100,000oz Da Vinci High-Grade Resource
These discoveries underpin Doray’s Target 1-5-1 strategic goal to deliver increased and sustained value for shareholders by:
 Increasing annual production to 100,000 ounces Au; Extending Deflector’s mine life to at least 5 years; and Reducing AISC to less than $1,000 per ounce Au.