I hope we all had a great long Easter weekend.
Welcome to the first edition of Muddy’s Weekly Reel. What is a “Reel”? A reel is a short post that gets right to the meat. (adopted from Instagram) As an investor, I like to scan material for information that catches my eye. Muddy’s Weekly Reel aims to deliver a fast read with links to dig deeper when you have some downtime.
Last week three of my stocks released news: Pegasus Resources picked up a new uranium property. Newlox Gold had their new ball mill arrive at the Boston Project. Aztec Minerals and their JV continue to hit solid grades and are still open in all directions.
PS: You can stop reading here if that’s all you need to know.
April 12, 2022 – Pegasus Resources Inc. (TSX-V: PEGA) (OTC/Pink Sheets: SLTFF)
What a week for Pegasus Resources investors! The uranium market is on fire, and PEGA has boots on the ground in Utah while landing what should become their flagship: the Chord Project in South Dakota.
The Chord Project has lots for investors to be excited about. First, it holds a non-43-101 compliant historic resource done by Union Carbide (UC) in 1976. (UC followed accepted guidelines for resource estimates used at the time.) In 1982, the ore resource was recalculated by E.K. Pinnick. Do you know what has Muddy excited about the Chord project?
EnCore Energy’s Dewey-Burdock Uranium Project is what has me fired up. On February 14, 2022, EU received the uranium production licence for their Dewey-Burdock project.
What does this mean for the Chord property?
It tells this non-geologist guy that Chord could produce uranium in the same fashion. In Situ is a cheap form of uranium production, with EU coming in at $26.66/lb. all-in to produce a single pound of uranium. Uranium is currently over $63.00/lb. 😎
BUT it gets better!
The Dewey project doesn’t need a 14 million-plus resource to bring In Situ Leaching (ISL) into production. (Side note: Chord resource could be similar or larger). Having a central processing facility just up the road has perks. Remote ion exchange is a satellite plant that collects the ISL-created resin/polymer from smaller orebodies(Chord?), so they can be trucked to the main facility(Dewey-Burdock?). Tolling agreement or buy-out, anyone? *
14 April 2022 – Newlox Gold Ventures Corp. (CSE: LUX.c) (OTC: NWLXF)
Newlox has been quiet for the last few months, but I think that the situation could change with the new ball mill on-site, allowing the expansion to be finalized. Once completed, the Boston processing facility will be capable of processing 150 tonnes per day of material grading +/- 15 grams per tonne of gold with an anticipated gold recovery of 90%. All without mercury. ESG or not, no mercury is great for the environment.
“The Boston recovery plant is the Company’s second environmentally and socially positive precious metals recovery plant. It will process feedstock newly extracted from the Boston Mine by the Company’s local mining partners. Newlox will operate the new mill at Boston capable of processing 150 tonnes per day of material grading +/- 15 grams per tonne gold with an anticipated gold recovery of 90%. All feedstock is to be provided by the Company’s mining partners, with profits to be split evenly between the parties.”
April 13, 2022 - Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF)
Aztec and its JV partner Kootenay continue to hit solid grades and successful step-outs with the gold-copper mineralization open in all directions. At this stage, the California Zone is on the way to being an open-pit-heap-leach gold project. Two- million-ounce resource? I am going to hang around and see.
The primary focus of the Phase 2 RC drill program at Cervantes is to expand the previously-drilled California Zone by completing two drill hole fences parallel to and on either side of the 2017-18 Phase 1 drill hole fence. Todate, every hole drilled at California has intersected near surface, oxidized gold mineralization with minor copper oxides.
Let’s all have a good week, everyone.
Muddy
Disclaimer: Like most of you who read this, I am not a geologist or financial advisor. My opinions are just the uneducated speculation of a junior metals investor. Assume I own all stocks mentioned and will buy/sell as I see fit. Investing comes with risk, and you can lose all of your money, been there. You should always seek professional financial advice and conduct your due diligence before making investment decisions.
*I made assumptions to see the long view. I love speculating.