Month: April 2022

As Russia appears to be on the verge of defaulting on its debt, the U.S. debt market is also signaling trouble ahead.

Treasury bonds, long considered to be among the safest investments, are rapidly plunging in value as yields surge. The largest T-bond exchange-traded fund, iShares 20+ Year Treasury Bond (TLT), has lost more than 15% of its value year to date.

For a purportedly conservative investment, a performance like this is akin to a crash.

Those who bought government bonds at the beginning of the year for their 2% coupon have now effectively lost seven years’ worth of interest.

It could end up being a lost decade – or worse – for bondholders.

Even at its low point this year, the S&P 500 was down only 13%. Stock market investors can at least hope to be rewarded for enduring the recent volatility in the form of earnings and dividend growth over time.

And holders of hard assets including precious metals can potentially see massive price appreciation as inflation continues to rise. This week’s Consumer Price Index report is expected to show a jump of over 8%. (Alternative inflation gauges are coming in even hotter.)

Bondholders have no chance of keeping up with the prevailing rate of U.S. currency depreciation. Even though the Federal Reserve Note “dollar” has been rising versus foreign currencies, actual holders of cash and debt instruments denominated in dollars are seeing their purchasing power decline rapidly.

For decades, conventional financial advisors have pitched bonds to retirees, pension funds, and other conservative-oriented investors. Instead of providing security, though, bonds are now serving as instruments of financial blood-letting.

It would be one thing if bonds were included in a comprehensively diversified portfolio that included healthy allocations to gold, silver, and other inflation hedges.

But most institutional portfolio allocators and financial advisors sneer at the idea of including any allocation to hard assets.

Maybe they still believe that inflation will be transitory. But if the “bond bugs” are wrong and inflation remains high in the months and years ahead, then the real losses endured by bondholders will be staggering.

In reality, the gold naysayers were wrong from the beginning. Precious metals are a crucial component in any truly balanced investment portfolio regardless of economic conditions.

Far from being an arbitrary speculation, gold is considered to be a “Tier 1” asset in the global banking system. In a world of depreciating fiat currencies, gold is the ultimate money.

It is also the ultimate hedge against geopolitical turmoil and financial market meltdowns.

The plunging U.S. bond market will have enormous ramifications for real estate, the banking system, the federal government’s balance sheet, and the entire economy. While it is impossible to predict exactly what the fallout will be, a hit to the equity markets and a dip toward recession are possibilities.

So far this year, stocks and bonds are getting clobbered by commodity markets – led by surging energy and agriculture. Although precious metals have yet to show leadership, they are serving investors well by mitigating declines in conventional financial assets.

The worst may be yet to come for bonds. Meanwhile, the biggest gains for gold and silver are likely still ahead.

Source: The Critical Investor   04/10/2022

The Critical Investor sits down with Kenorland Minerals CEO Zach Flood to discuss the company’s latest exploration results from its Regnault gold project in Québec.

Kenorland Minerals Ltd. (KLD:TSX.V; 3WQO:FSE) keeps expanding and finding new mineralized structures at its Regnault target, part of its Frotet project in Québec, which is part of the 20/80 joint-venture (JV) with Sumitomo Metal Mining Co. Ltd. (STMNF:OTCPK) where Kenorland is the operator.

After announcing the second 25-hole batch of its 57-hole, 17,792-meter 2021 summer-fall drill program, it is clear that Regnault contains a considerable gold system, spread out over multiple vein structures.

A recently completed 2022 winter drill program at Regnault, with assays pending, indicated the discovery of additional veins. Management is happy with the results.

“The last remaining results from the 2021 drill program continue to demonstrate the exceptional high-grade nature of the Regnault gold system, including the most significant intercept at R2 to date. We have also completed the 2022 winter drill program, which concludes the fiscal 2021 budget cycle,” Kenorland Minerals CEO Zach Flood said.

He added: On this program we pushed drilling southward well beyond the R1 veins and intersected a series of additional parallel shear veins at depth. The significance of this development cannot be understated as it confirms the potential for additional vein discoveries within the intrusive complex. We anticipate the 2022 fiscal budget to be finalized towards the end of the month and we look forward to continuing our advancement of this remarkable gold discovery.”

Let’s have a look at where these latest results and discoveries rank in the overall story of Regnault.

Besides this, Kenorland also received assays back for its Healy project, commenced drilling at its Chicobi project, and very recently optioned out the Separation Lithium project.

The current batch of 25 drillholes (totalling 7,968 meters) follows the previously reported batch of results of 32 drillholes (9,824 meters) of the 2021 summer-fall drill program completed in October 2021.

This drill program was designed to systematically test along strike and the down-dip extensions of the R1, R2 East and R2 West mineralized structures at Regnault.

The recently completed winter drill program looked for new potential structures/mineralization, and although results are pending, the R3, R4 and R5 structures could be identified based on visual inspection of the core, which showed visual gold in several instances.

Along the R1 trend, highlights of the summer/fall program included:

• Hole 21RDD089 stepped out 60 meters down-dip from one of the best holes at R1 to date 21RDD024 (5.72 meters at 90.56 grams per tonne gold [90.56 g/t Au]) and intersected 6.21 meters at 3.75 g/t Au from 140 meters, including 0.6 meter at 30.20 g/t Au.
• Drillhole 21RDD094 stepped out 80 meters down-dip from excellent hole 21RDD056A (15.4 meters at 17.96 g/t Au*) and intersected 0.92 meter at 22.04 g/t Au from 247 meters. 
• Hole 21RDD100 stepped out 80 meters down-dip from 21RDD074 (3.45 meters at 17.53 g/t Au*) and intersected the best hole in this batch, containing 6.88 meters at 23.79 g/t Au from 349 meters, including 2.60 meters at 60.77g/t Au.
• Drillhole 21RDD105 returned 2.5 meters at 11.15 g/t Au from 40 meters, including 0.30 meter at 84.6 g/t Au near the top of the hole along a separate structure 200 meters north of R1 and 50 meters along strike from 20RDD021A (2.66 meters at 33.69 g/t Au).  
• Hole 21RDD109A stepped out 75 meters down-dip of 21RDD032 (4.87 meters at 3.80 g/t Au) and intersected 17.75 meters at 1.26 g/t Au from 223 meters, including 2.5 meters at 3.92 g/t Au.

These results confirm and gradually extend the mineralized zone over 950 meters of strike length, to depths of 350 meters, coming from 750 meters along strike and depths of 330 meters. The following long section of R1 indicates this structure:

This results in an updated, very back-of-the-envelope estimate on the Regnault structures, with an average grade* thickness (or GT as Kenorland calls it) of 5×5 = 25, and arrives for R1 at 950 x 250 x 5 x 2.75 = 3.27 million tonnes (3.27 Mt). At an average “guesstimated” grade of 5 g/t Au, this would mean a hypothetical 525,000 oz gold.

Mineralized structures transect both the multiphase Regnault intrusive complex and surrounding volcanic rocks and are defined by zones of moderate-strong strain, biotite-calcite ± silica-chlorite alteration and disseminated pyrite (locally ranging from 3-10%). High-grade intercepts are characteristically shear-hosted, laminated quartz-carbonate-pyrite veins, often haloed by variably deformed extensional stockwork quartz veining locally, containing up to 20% pyrite along with trace chalcopyrite, Au/Ag tellurides and visible gold.

Besides R1, results also came in for the R2 structure. At R2 West, hole 088 intersected a narrow but still impressive 1.77 meters at 117.86 g/t Au, and is 80 meters east of step-out hole 082A, which returned 1.6 meters at 28.34 g/t Au.

Hole 085 returned 0.6 meter at 48 g/t Au, 30 meters up-dip of 082A. Mineralization for the R2 structure now has a strike length of 950 meters, and extends to 350 meters depth — this could indicate a back of the envelope guesstimate of 700 x 200 x 2 x 2.75 = 770 Kt, at an average guesstimated grade of 9 g/t Au, is a hypothetical 223 Koz Au. This brings the total guesstimated mineralized envelope to 748 Koz Au.

Not included are the R3, R4 and R5 vein structures, so in my view Kenorland could already be approaching 1Moz Au here.

Mineralization is found in stacked, shallow north-dipping extensional type quartz veins (R2 West) and steeply north-dipping shear hosted quartz-carbonate veins (R2 East).

General mineralization for current structures appears to be differently oriented (shallow and steeply dipping, some stacked, some individual) vein stockworks, which appears to be quite complex (although Regnault is not as complex as most, the veins are relatively consistent in terms of strike and dip):

Holes like 22RDD129 (included in the winter drill program, assays expected back in two months) indicate the potential of new veins at depth, so the Regnault vein structures could run much deeper, somewhat comparable to the nearby Troilus deposits, which I discussed in another article about Kenorland.

It seems by the schematic models provided in the news release as if the mineralized veins run outside the intrusive complex as well, so I asked if management is focused completely on the intrusive complex, or looks outside it as well. CEO Zach Flood answered, “We have found, and there is great potential for, gold mineralization in the volcanics surrounding the intrusive complex.”

As Flood indicated in my previous interview with him, Kenorland continues to step-out along strike but its focus is really more on deeper step-outs down plunge of potential high-grade shoots.

The company is looking to drill more aggressive step-outs down dip. I wondered how much deeper would the company target for its next drill program (it drilled to 500 meters depth during the winter program), and what percentage would be aimed at infill holes versus step-outs at depth.

Flood said: “The next phase of exploration will be focused on wide-spaced step-outs along the new vein discoveries to the south of, and parallel to, the R1 trend, including R5 and the three additional veins we discovered with hole RDD129. We will also see step-outs along R4 to the north, the R2 trend, as well as testing entirely new targets to the south of R3.”

This wraps up the results from Regnault, let’s see what other projects Kenorland is working on these days.

Regarding the Healy Project, Alaska, optioned from Newmont Corp. (NEM:NYSE), a 5,200-meter maiden diamond drill program has been completed, and results were announced on April 1. A map indicating the three main targets can be seen here:

Results weren’t very impressive, but keep in mind it is still early days at Healy.

Hole 019, the best intercept drilled at the Thor target, returned 13.38 meters at 1.22 g/t Au from 20.2 meters. This was closely followed by hole 017, a 250-meter step-out, assaying 11.9 meters at 1.29 g/t Au from 118.9 meters.

Although width and grade look similar, the depths vary considerably, and as Healy represents disseminated sulphide, vein-hosted sulphide and breccia-fill sulphide styles of mineralization, chances are that these two results aren’t relating to the same gold structure. Here is a complete table of results:

  

CEO Zach Flood wasn’t unhappy about this first round of drilling:

“The maiden diamond-drill program confirmed the presence of a large-scale gold system at Healy evidenced by broad mineralization encountered throughout the wide-spaced drilling across multiple target areas. While there are many indications that Healy represents a significant greenfields gold discovery within ’s prolific Goodpaster Mining District, it will require additional drill testing to fully evaluate the economic potential. We will provide an update on our exploration plans going forward after we have completed a detailed review of the results and targets with Newmont, which currently holds a 30% participating interest in Healy.”

It would be great of course if Kenorland would find another Pogo (8 Moz Au) or Naosi (1.5 Moz Au) deposit, to name a few examples of major deposits in the region. After completing induced-polarization (IP) and magnetotellurics (MT) surveys, management has high hopes of finding mineralization at depth, but this will require deep and costly drilling, as can be seen in these sections:

As there are strong and significant chargeability and conductivity anomalies at depth, and gold mineralization and alteration occurs over a 4 by 2-kilometer footprint, management anticipates the potential presence of an extensive gold system.

Another important project for Kenorland is Tanacross, also in Alaska. Extensive soil sampling program has been done, a 5-kilometer IP and MT survey were completed, and an airborne magnetics survey was flown over several targets.

As surveys and consequent assays were delayed, and drilling put on hold, I was wondering if the assays were received from the labs. CEO Flood answered, “Yes, all assays have been received from the 2021 summer soil program. We have identified a very compelling target, which we will provide more information on in the near future.  There is a high likelihood we will be drilling the project this summer.”

Kenorland also completed a VTEM survey at the Hunter project in Québec [optioned to Centerra Gold Inc. (CG:TSX; CADGF:OTCPK)], and a LiDAR survey and mapping at South Uchi, which was optioned to Barrick Gold Corp. (ABX:TSX; GOLD:NYSE).

A property-wide sonic drill-for-till program at Hunter will be carried out in 2022.

At South Uchi, Barrick will follow up on the 2021 property-wide till geochemical survey with further exploration. More details on these projects will be presented in the coming weeks.

Since till sampling, boulder prospecting, and airborne magnetics had been completed at Deux Orignaux (part of Kenorland’s Chebistuan project) and crews were preparing for an IP survey last time we spoke, I wondered if the IP survey had already been completed and if there would be further targeting. CEO Flood answered, “We are still waiting on the final IP data. Once we have that in hand and have completed our targeting, we will propose a program and budget to Newmont.”

Drone magnetics, IP and EM were completed at Chicobi in January, and targeting and permitting were completed in March, resulting in the commencement of drilling on April 4. Kenorland announced a small 2,000-meter diamond drill program over four holes, testing a 1.5 x 3-kilometer till anomaly.

Chicobi is another example of the deployment of extensive sonic “drill-for-till” sampling of glacial tills below cover. The results of these sampling programs have indicated a major contact between sedimentary rocks including iron formation and sericite-chloritoid altered mafic volcanic rocks. Drone based aeromagnetic and ground-based IP and EM geophysical surveys performed at Target B in November and December of 2021 have identified areas of strong chargeability and conductivity coincident and adjacent to a prominent jog in strongly magnetic sedimentary stratigraphy.

An initial drill test totalling 2,000 meters of drilling along one fence is currently underway to test the strongest of the geochemical anomalies. The fence is designed to cross all favourable stratigraphic horizons and elevated chargeability, magnetic and conductive geophysical responses.

The Chicobi Project is held under an earn-in option to JV agreement with Sumitomo where it has the option to earn up to a 51% interest by funding CA$4.9M in exploration work. Some 2,000 meters of drilling are expected to be completed in mid-April, and the results are expected from the lab within 2-3 months.

On a final note, Kenorland optioned its Separation Lithium project in Ontario to privately held Double O Seven Resources Ltd., which has the option to acquire a 100% interest. The staking costs for Kenorland were CA$100,000 so the initial payment of CA$100,000 by Double O covers the acquisition cost for Kenorland — all else is risk-free upside.

Such flipping of assets can be quite profitable, as total payments over five years would account for CA$1.5M. Kenorland retains a 2.5% net smelter return royalty, remains the operator and receives a 10% management fee on any exploration expenditures.

The Separation Lithium project is on trend with the large Tanco lithium-caesium-tantalum pegmatite deposit (owned by Sinomine Resource Group Co. Ltd., a Chinese giant), but is also located directly to the north and east of Separation Rapids held by Avalon Advanced Materials Inc. (AVL:TSX; AVL:NYSE; AVARF:OTCQX).

The treasury currently stands at about CA$8M, and the idea of management is to spend around $5M of this on exploration advancing its own projects, including funding its joint-venture commitment at Frotet, further exploration in Alaska, and additional generative exploration, including advancing projects in Manitoba. The revenue generated from its operations, including management fees as well as cash and equity received from partners, will more than cover its G&A.

Conclusion

The Regnault project seems to be shaping up to become quite a substantial gold system after the second batch results came in — as my back-of-the-envelope guesstimate indicates potential up to 1Moz Au. Kenorland Minerals is still waiting for JV partner Sumitomo to approve its budget for another extensive drill program at Regnault, and this is due any day now. Results for the recently completed 10,000-meter program at Regnault are expected to come back in two months. Healy did disappoint me somewhat, although it is still early days; it is a very large system and with lots of deep geophysical anomalies to drill. For now, Kenorland is focusing on drilling at Chicobi, let’s see if the successful reconnaissance exploration can result in economic intercepts.

I hope you will find this article interesting and useful, and will have further interest in my upcoming articles on mining. To never miss a thing, please subscribe to my free newsletter at www.criticalinvestor.eu, in order to get an email notice of my new articles soon after they are published.

This article is also published on www.criticalinvestor.eu. To never miss a thing, please subscribe to my free newsletter, in order to get an email notice of my new articles soon after they are published.

All presented tables are my own material, unless stated otherwise.

All pictures are company material, unless stated otherwise.

All currencies are in US Dollars, unless stated otherwise.

Please note: the views, opinions, estimates, forecasts or predictions regarding Platinex’s resource potential are those of the author alone and do not represent views, opinions, estimates, forecasts or predictions of Platinex or Platinex’s management. Platinex has not in any way endorsed the views, opinions, estimates, forecasts or predictions provided by the author.

The Critical Investor is a newsletter and comprehensive junior mining platform, providing analysis, blog and newsfeed and all sorts of information about junior mining. The editor is an avid and critical junior mining stock investor from The Netherlands, with an MSc background in construction/project management. Number cruncher at project economics, looking for high-quality companies, mostly growth/turnaround/catalyst-driven to avoid too much dependence/influence of long-term commodity pricing/market sentiments, and often looking for long-term deep value. Getting burned in the past himself at junior mining investments by following overly positive sources that more often than not avoided to mention (hidden) risks or critical flaws, The Critical Investor learned his lesson well, and goes a few steps further ever since, providing a fresh, more in-depth, and critical vision on things, hence the name.

The author is not a registered investment advisor, and has a long position in this stock. Tectonic Metals is a sponsoring company. All facts are to be checked by the reader. For more information go to www.tectonicmetals.com and read the company’s profile and official documents on www.sedar.com, also for important risk disclosures. This article is provided for information purposes only, and is not intended to be investment advice of any kind, and all readers are encouraged to do their own due diligence, and talk to their own licensed investment advisors prior to making any investment decisions.

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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. 

 

 

( Companies Mentioned: AVL:TSX; AVL:NYSE; AVARF:OTCQX,
ABX:TSX; GOLD:NYSE,
KLD:TSX.V; 3WQO:FSE,
STMNF:OTCPK,
)

Source: The Critical Investor   04/08/2022

The Critical Investor looks at a junior miner that has been raising cash and acquiring additional claims for its Ontario projects.

Platinex Inc. (PTX:CSE; 9PX:FSE) doesn’t seem to be slowing down anytime soon, as it has been adding more claims to the highly prospective and strategically located district-scale Shining Tree gold project and recently acquired W2 Copper-Nickel-PGE project, both located in mining-friendly Ontario. As management and board of directors were strengthened, and a high-quality core investor base came in since, one of the last building blocks remaining was filling the treasury with adequate funding. As a first tranche of CA$1.5 million (M) was recently closed, with a final tranche coming up soon, it seems Platinex is ready to complete targeting and design drill programs for both Shining Tree and W2. In my view, strong drill results, positive metal price movements, and renewed enthusiasm in the Ring of Fire after the recently finalized acquisition of Noront by Wyloo Metals could provide substantial catalysts for share price appreciation in 2022.

It is no small feat for a tiny junior with a CA$8M market cap to raise CA$1.5M, but Platinex didn’t seem to have much trouble with it, raising this in a month. It was a non-brokered private placement, with a first tranche closed at April 5, 2022, consisting of 16M common shares at CA$0.05, and 12.2M flow-through common shares, both with a half warrant (three years at CA$0.07). The aforementioned second tranche will probably close within two weeks from now.

Right before the closing of this first tranche, Platinex was busy expanding their Shining Tree claim package, as it acquired another 1,372 hectares, bringing the total at 23,219 hectares. This came at limited costs of just CA$11,500 in cash and 400,000 shares. The claims are subject to a 2% NSR, of which 1% can be bought back for CA$800,000.

As can be seen, the new claims cover numerous faults, associated with the prospective Ridout-Tyrell Deformation Zone (RTDZ), which hosts several world-class gold deposits like Coté Gold (IAMGold) and Juby (Aris Gold):

A lot of reconnaissance exploration has already been completed, and more recently results of an airborne magnetics survey and a LIDAR survey came in, enabling management to determine drill targets, so Platinex will be ready to go when the ongoing financing will be completed soon. The understanding of the project has improved considerably, and lots of IP targets have been defined, correlating with the RTDZ trend, high gold counts and/or high multi-element anomalies in the gold till fines:

What to expect from drilling? As a reminder, Platinex already completed a 51 drill hole program a while ago at the important Herrick target (one of seven to eight target zones within Shining Tree), and hit gold at almost every hole, with highlights accounting for 7.15 meters at 2.76 g/t Au, 46.3 meters at 0.65 g/t Au, 7.2 meters at 2.38 g/t Au, 14.1 meters at 1.2 g/t Au and 12.2 meters at 1.47 g/t Au, all within open pit depths.

Mineralization at the Herrick target is open at depth, and management hopes to find more mineralization at depth, as lots of deposits in the Abitibi show these characteristics. There are many more targets to be drill-tested, and management is currently outlining plans for this at the moment as mentioned. According to the presentation, a Phase 1 program has already been completed (1,270m), confirming Vein 109 on the Caswell target. The intended but still preliminary Phase 2 could see 5,000 meters of drilling, of which a part is thought to be deeper drilling, and another part could be definition drilling on the Herrick, Churchill, and Ronda targets. Through this program, management intends to complete a maiden NI43-101 resource estimate for Herrick.

Besides Shining Tree, Platinex is also active on the W2 front, as it expanded this project two times since my last article in January. On March 17, 2022, it acquired 2,932 hectares, bringing the total claims to 15,973 hectares. The staking fees were CA$7k as the claims just lapsed.The W2 Project now covers approximately 80% of the layered mafic-ultramafic Lansdowne House Igneous Complex (“LHIC”) which is highly prospective for copper-nickel (Cu-Ni) and reef-type platinum group element (PGE) deposits.

Keep in mind, Wyloo recently acquired nearby Noront Resources Ltd. (NOT:TSX.V) for its high-grade Eagle’s Nest Ni-Cu-PGE deposit, for CA$616.9M after a bidding war with a formidable competitor: BHP. As BHP is known for doing extremely thorough due diligence on its transactions, it seems certain it saw compelling reasons to bypass the usual Ring of Fire objections, as this area still has been underdeveloped due to lack of infrastructure. The Ring of Fire has been viewed as one of the most promising mining opportunities in Ontario for more than a century.

Wyloo certainly thinks so too, as it has already laid out a comprehensive strategy and budget to advance Eagle’s Nest towards production, as part of their overall battery-related commodity strategy. Wyloo is owned by Australian mining billionaire Andrew Forrest, who is betting heavily on green energy of late. When such powers seek to speed up slow moving ventures like the Ring of Fire, it might be safe to say that such initiatives will likely attract much more investments, and advance the Ring of Fire as a mining district much faster.   

It seems Platinex has timed their W2 acquisition well, and could very well enjoy the benefits of renewed interest in the nearby Ring of Fire.

The widespread Cu-Ni-PGE mineralization of W2 is delineated in at least seven significant mineralized zones within a 7.5 kilometer long folded corridor. The new claims add 10 kilometers of strike length to the project, with W2 extending 35 kilometers along the Lavoie Lake Shear Zone System and tying on to Northern Superior Resources Inc.’s (SUP:CVE) TPK Project. The grey areas are the new claims:

As a reminder, the W2 project has seen significant exploration so far, ranging from sampling to airborne surveys to 8,772 meters of drilling. Drill results for the property were impressive:

• 220.6 meters at 0.56% CuEq or 0.96 g/t PdEq (LH-01-06)
• 151.6 meters at 0.45% CuEq or 0.771 g/t PdEq, including 17 meters of 1.08% CuEq or 1.86 g/t PdEq (LH-01-05)
• 42 meters at 1.02% CuEq or 1.8 g/t PdEq, including a high grade 4.5-meter section of 4.52 g/t PdEq (LH-01-02)
• 61 meters at 1.01% CuEq or 1.73 g/t PdEq
• 20.91 meters at 1.63% CuEq or 2.80 g/t PdEq
• 42 meters at 1.02% CuEq or 1.76 g/t PdEq

Please note holes LH-01-05 and LH-01-06 are 4 kilometers apart with no intervening drill holes. The apparent correlation of widely spaced holes suggests a high level of continuity in the Cu-Ni-PGE mineralization. Most results were intercepted close to surface, indicating substantial open pit potential. Numerous targets have already been identified, and the T5 target appears to have the same geophysical signature as Eagle’s Nest (Noront/Wyloo).

Management has designed a two-phase drill program for W2, although this is still preliminary: Phase 1 might see 2,500 meters of drilling, focusing on infilling areas of high grade near surface PGE mineralization, and among others filling in between holes LH-01-05 and LH-01-06. Phase 2 could also see 2,500 meters of drilling, but will likely be more greenfields, as conductors with coincident magnetic anomalies will be drill tested for the first time. It will mainly focus on the T5, T6, T7, T8, and T11 targets. It will be a busy summer for Platinex, with a decent amount of drilling planned, and with management looking for further acquisitions.  

Conclusion

It will be interesting to see how much Platinex will be raising in total in the ongoing financing, as they already landed CA$1.5M, which already goes a long way when exploring in Ontario, where drilling cost are pretty cheap (CA$200/meters). The second tranche will add more to the treasury, so Platinex will have enough to complete lots of exploration for this year. I am looking forward to the finalization of exploration programs, and expect a lot from both projects, as historic drill results were already impressive and consistent. Stay tuned!  

I hope you will find this article interesting and useful, and will have further interest in my upcoming articles on mining. To never miss a thing, please subscribe to my free newsletter at www.criticalinvestor.eu, in order to get an email notice of my new articles soon after they are published.

This article is also published on www.criticalinvestor.eu. To never miss a thing, please subscribe to my free newsletter, in order to get an email notice of my new articles soon after they are published.

All presented tables are my own material, unless stated otherwise.

All pictures are company material, unless stated otherwise.

All currencies are in US Dollars, unless stated otherwise.

Please note: the views, opinions, estimates, forecasts or predictions regarding Platinex’s resource potential are those of the author alone and do not represent views, opinions, estimates, forecasts or predictions of Platinex or Platinex’s management. Platinex has not in any way endorsed the views, opinions, estimates, forecasts or predictions provided by the author.

The Critical Investor is a newsletter and comprehensive junior mining platform, providing analysis, blog and newsfeed and all sorts of information about junior mining. The editor is an avid and critical junior mining stock investor from The Netherlands, with an MSc background in construction/project management. Number cruncher at project economics, looking for high-quality companies, mostly growth/turnaround/catalyst-driven to avoid too much dependence/influence of long-term commodity pricing/market sentiments, and often looking for long-term deep value. Getting burned in the past himself at junior mining investments by following overly positive sources that more often than not avoided to mention (hidden) risks or critical flaws, The Critical Investor learned his lesson well, and goes a few steps further ever since, providing a fresh, more in-depth, and critical vision on things, hence the name.

The author is not a registered investment advisor, and has a long position in this stock. Tectonic Metals is a sponsoring company. All facts are to be checked by the reader. For more information go to www.tectonicmetals.com and read the company’s profile and official documents on www.sedar.com, also for important risk disclosures. This article is provided for information purposes only, and is not intended to be investment advice of any kind, and all readers are encouraged to do their own due diligence, and talk to their own licensed investment advisors prior to making any investment decisions.

Sign up for our FREE newsletter at: www.streetwisereports.com/get-news

Streetwise Reports Disclosures

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( Companies Mentioned: PTX:CSE; 9PX:FSE,
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