Junior gold stocks and a copper explorer have caught the attention of Bob Moriarty
Bob Moriarty | March 22, 2022 | SmallCapPower: New Found Gold Corp. (TSXV:NFG) drilled a nineteen-meter hole with 92.86 g/t gold on their first hole. They are in the midst of a 400,000 meter drill program using ten drill rigs soon to increase to fourteen. With $127 million in working cash, they are in an excellent financial situation.
(The following is an article originally published on 321gold.com on February 9, 2022)
Between the Appleton Fault and the JBP fault in the Queensway project the company has over 100 km of potential strike. The question is not if they have a mine or not. They do have the best discovery in Canada in twenty-five years. It will be a mine. The only question is going to be just how many ounces do they need to count before they make the production decision.
Currently the company has a $1.33 billion market cap. I’m not going to suggest NFG is going up 1,000 percent as many of the other companies I am writing about could but it is like owning a million dollar bond. Safe and throwing off cash in time. Everyone should own some NFG.
Irving Resources Inc. (CSE:IRV) is a sleeper. The constantly changing Covid requirements in Japan literally stopped the company in its tracks for the best part of eighteen months. Irving was using a Canadian drilling company and the constant changes in requirements caused total chaos. Effectively eighteen months on the clock were pretty much wasted. But the gold was there thousands of years ago and it’s still there.
In a press release dated the 13th of December the company put out very important information for a technical point of view. I was there at the Omui Mine project three years ago. The previous owner of the actual mine area had dug down a couple of meters and discovered incredibly high grade material worth then in the $25,000 a tonne range. Naturally that made it look like drilling there would be incredibly successful and easy. It was both easy and unsuccessful.
Dr. Keith Barron was on the same trip. He wanted to pick his own sample. He did and sent it off to his preferred lab. The results came back with 2% gold or 2,000 grams to the tonne.
Irving has tapped a number of holes in the area seeking the really high-grade stuff without much luck. They came up with decent numbers but not the off the wall $117,000 rock that would have lit up the stock like a cat clawing up a tree with its ass on fire.
But in the December press release they talked about a hidden and not previously encountered additional sinter down about two hundred meters beneath the Omui Mine. Irving has the drill crew back from Canada and will be drilling underneath the sinter in about ten days. Look for results in 8-10 weeks.
And investors should not for even a moment forget about Yamagano. Look for action there later this year. Yamagano is the three hundred year old gold mine located only eleven km from Hishikari.
Irving has a market cap of about $75 million. The share price was as high as $4.60 two years ago and has corrected down to as little as $.92 lately. That’s an 80% decline when nothing at all has changed with the company.
Core Assets Corp. (CSE:CC) was as low as $.06 a share in August of 2021 and blasted higher to a new high of $.60 a week ago on the basis of a major CRD discovery in Northern BC just 48 km from Atlin. Their primary project is called the Blue Deposit and shows all the aspects of a high grade CRD deposit. The company controls 1,083 square km of ground for the project.
Core picked up the Blue Project from Zimtu as far back as 2018 and have paid a total of $100,000 in cash and issued three million shares to Zimtu. There is no NSR on the property; Core now owns it 100%.
It has major potential as a CRD even though it is in one of the most studied areas of Western Canada. As of today the company is worth about $27 million, which makes it one of the lowest market cap stocks of the eight I have written about. Watch their powerpoint, it is instructive.
In a placement done a little over a year ago there were 12 million warrants exercisable at $.15 the first year and $.25 the second. The company has had excellent liquidity for the past month with the share price well above the exercise price of $.15 so by the end of March I think the company would have added an additional $1.8 million in addition to the $1.6 brought in during the recent placement.
Count on the company drilling as soon as they can and as much as they can to prove the deposit. It is a CRD and they often go for billions. This stock is cheap. I took a major piece in the last placement even if the company is not an advertiser.
Bell Copper Corporation (TSXV:BCU) announced a major hit at their Big Sandy copper project in Northwest Arizona just a week ago. The Big Sandy looks like the top of a porphyry copper-moly prospect. The market agrees taking the share price from $.19 a share on the day of the announcement to a high of $.63 three days later before settling down to $.455.
At today’s price of the shares, the company only has a $48.5 million market cap. With some drilling and more surface samples I expect the price to go much higher. Like Core, Bell Copper is not an advertiser but I have bought shares in the open market.
These stocks are all-cheap and offer substantial potential to resource investors. I own all of them but the last two are not advertisers so I can still be considered biased.
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