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6/14/2016 by mdc
The Golf Report offers the opinion that the drill bit is essential to junior mining companies. Only through active exploration can investors separate the companies with potential from those without. Of course, they run the risk that the reported high-grade zone is of only limited lateral extent. Nonetheless, Mick Carew of Haywood Securities discusses 5 companies on track to create value through the drill bit.

1. TerraX Minerals Inc., which holds the Yellowknife City Gold Project in the Northwest Territories of Canada. It is located in one of the six major high-grade gold camps in the Yellowknife greenstone belt, which hosts the past-producing Con and Giant gold mines. Both deposits are situated along several shear zones, with numerous historical gold showings and high-grade drill results that have been the focus of TerraX exploration programs to date. YCGP exhibits a number of similarities to the Timmins gold camp, including the date of gold mineralization and the deposition of temporally associated sedimentary host rocks. Owing to its proximity to Yellowknife, the project is readily accessible via an all-season road and is close to infrastructure, including hydroelectric power, and a skilled workforce.

2. Pure Gold Mining Inc. owns the Madsen gold project, comprising approximately 45 square kilometers of ground within the Red Lake district in northwestern Ontario, making it the third largest landowner in the area. A new interpretation of the role of ultramafic contacts and structural controls has resulted in multiple discoveries in the Red Lake district. The geological environment and gold mineralization at the Madsen 8 Zone are similar to other recent high-grade gold discoveries in the district. The 10-kilometer-long ultramafic contact is highly prospective for additional high-grade discoveries, and Pure Gold management believes the Madsen project has the potential to host the next multimillion-ounce gold deposit in the Red Lake district.

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