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Best Drill Interceptions In The Metals Mining Sector For The Week Ended February 23, 2020



  • Wesdome with bonanza gold grades at Kiena.
  • Filo del Sol on path to prove one of the best undeveloped copper-gold-silver deposits in the world.
  • K92 releases another batch of high-grade drill results from below the Kora North deposit at Kainantu.

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(Source: Exploration Insights)


If you're into investing in the mining sector, you should know the above chart very well. This series covers the three projects with the most significant drill interceptions over the past week, as well as the prospects of the companies which own these projects. I will use data from the weekly bulletin of Opaxe, which can be found on its website. Note that the drill interceptions are converted into grades of gold equivalents using the following formula:

Inserting image...

(Source: Opaxe)

Opaxe has chosen gold as the metal equivalent for all conversions, as it considers gold to be the most widely used and best-understood benchmark to determine or appreciate the grade tenor of a drilling intercept.

(Source: Opaxe)

1) Kiena gold mine complex in Canada

On February 19, Wesdome Gold Mines (OTCPK: OTCQX:WDOFF) released a new batch of results from the ongoing underground definition and exploration drilling campaign at the Kiena Deep A Zone of its Kiena mine complex in Val d'Or. The best interception was 10m @ 114.84g/t Au from 725m in hole 6580, which is equal to 1,148(AuEq.)m.

(Source: Wesdome)

The new results extended the gold mineralization of the A Zone by another 100m down plunge and it now extends for more than 830m. A new resource estimate should be released later this year, which will serve as the basis for a preliminary economic assessment. The company has drilled 40,850m in 136 holes since the last one.

Kiena is a high-grade past-producing mine which was put under care and maintenance in 2013. It has a 2,000 TPD permitted mill as well as a 900-meter production shaft:

(Source: Wesdome)

In December 2018, Wesdome put out a resource estimate for the complex, which showed that it contains more than 1.5 million ounces of gold across all categories:


This article was written by

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I have been investing in stocks since 2007. I have no preference for sectors or countries - I'm as comfortable owning a part of a cement miner in Peru as holding shares in a wheat farming firm in Bulgaria. If it's a value stock - great. If the dividend or share buyback yield is high - even better.

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