FEBRUARY/MARCH 2020 | Volume 18 Issue 2 Junior Mining recovery GOLD SECTOR CONSOLIDATING AREA PLAYS SASKATCHEWAN WESTERN USA MARITIMES Copper Demand to increase CONVERSATIONS with Geologists Ron Netolitzky Ken Konkin US / CDN .95 5 $ Publications Mail Agreement No.40845066 Publications Mail Agreement CONTENTS FEBRUARY/MARCH 2020 DEPARTMENTS EDITOR’S COMMENTS 7 Mining investment opportunities are knocking by Ellsworth Dickson FOR THE RECORD 52 - Endurance Gold - Mountain Boy COMING EVENTS 92 Advertisers’ Index 92 EPILOGUE 94 Minority government probably spells bad news for Canada's resource sector by David Duval 64 FEATURES Saskatchewan exploration MINING heating up Junior Mining turnaround underway by Ellsworth Dickson 64 Talisker Resources acquires historic by Rod Blake 8 Bralorne gold mine Canadian Maritimes – Exploration by Ellsworth Dickson 19 Geologist Ken Konkin – Unravelling the and mining update riddle of Golden Triangle rocks by Kathrine Moore 74 Pure Gold Mining drills 33.1 g/t gold by Ellsworth Dickson 14 over 3.4 metres 31 Gold sector consolidation predicted INVESTMENTS Northstar Gold lists with Miller Gold to continue into 2020 Property near Kirkland Lake by Robert Simpson 26 SPECULATIONS by Dr. Jennifer Getsinger 42 Stock trading on non-corporate Ron Netolitzky – Veteran geologist ex- news – a risky strategy Osisko Metals advancing Pine Point ploring Saskatchewan's La Ronge by Leonard Melman 20 deposit towards PEA Gold Belt by Thomas Schuster 44 by Ellsworth Dickson 32 AT THE MARKET Learn to use both fundamental Standard Lithium builds Arkansas Exploration and Mining and technical analysis lithium pilot plant in the Western USA by John Newell 22 by Dr. Jennifer Getsinger 46 by Peter Kennedy 34 BROKER'S PICKS AUSTRALIAN UPDATE Copper demand to rise Bond Resources aims to restart Novo Resources testing innovative by Ellsworth Dickson 54 historical Mary K Mine processing in Pilbara by Stew Vorberg and Doug Wood 24 by Greg Barns 47 FEBRUARY/MARCH 2020 www.resourceworld.com 5 Saskatchewan exploration heating up by Ellsworth Dickson SASKATCHEWAN IS FAMOUS FOR HOSTING THE WORLD’S HIGHEST GRADE URANIUM MINE – CAMECO’S CIGAR LAKE MINE IN THE ATHABASCA BASIN. IN ADDITION, NUTRIEN IS A MAJOR POT- ASH PRODUCER AND OPERATES A NUMBER OF MINES AND CANADA’S FIRST GEOTHERMAL POWER PLANT IS UNDER CONSTRUCTION. HOWEVER, THERE IS MORE THAN URANIUM, POTASH AND HOT WATER IN THE PRAIRIE PROVINCE. 64 www.resourceworld.com FEBRUARY/MARCH 2020 SASKATCHEWAN n the gold side, SSR Mining operates ALX Resources Corp. [AL-TSXV; the Seabee and Santoy mines north- ALXEF-OTC; 6LLN-FSE], has interests in Oeast of La Ronge. What investors will over 200,000 hectares in Saskatchewan, find of interest is an uptick in exploration including the recently acquired Falcon and projects. In an interview, Tim Termuende, Flying Vee Nickel projects. P.Geo, President and CEO of Eagle Plains ALX has received additional rock sam- Resources, provides an update on explora- ple assays from reconnaissance prospecting tion activities. at its 100%-owned Falcon nickel project in “There has been a slow and steady the Axis Lake area of the Athabasca region. increase in Saskatchewan exploration Samples taken from historical trenches and bolstered by provincial government initia- from outcrops in the northern part of the tives to help foster mineral exploration,” project returned values of up to 3.17% he said. “These initiatives are starting to nickel and 0.402% copper, along with bear fruit. However, Saskatchewan is still anomalous values of cobalt, gold, platinum extremely under-explored.” and palladium. An exploration permit has Gold is currently a major metal of been received for geophysical surveying interest for explorers, Termuende noted. and diamond drilling. An exploration pro- “Historically, polymetallic VMS depos- gram is planned for winter 2020. its have been aggressively explored with Drilling has been carried out on the mines operating along the Saskatchewan- Close Lake uranium project in the eastern Manitoba border for almost a Athabasca region where ALX can earn up hundred years. Those rocks continue into to a 51% participating interest from Orano Saskatchewan.” Canada Inc. While it has been difficult for many Appia Energy Corp. [API-CSE; APAAF- juniors to raise exploration funds for the OTC; A0I-FSE] reported results from last eight years, Termuende believes that prospecting on its Alces Lake rare earth this is easing with the rise in the gold price. (REE) property, northern Saskatchewan. In The Saskatchewan government recently addition to the recently reported diamond put in place a drilling incentive program drilling results, Appia discovered eight that refunds 25% of actual drilling costs new surface outcrop zones and showings up to $50,000. “This is pretty attractive for with characteristics of a REE mineral sys- explorers who are now stepping up to take tem, including visible monazite. The new advantage of the program,” he said. discoveries have expanded known surface Below are summaries of various REE mineralization within an area measur- Saskatchewan exploration and mining ing over 500 by 500 metres, and the Biotite projects. Lake discovery has extended the 500- metre footprint to over 1.8 km. Aben Resources Ltd. [ABN-TSXV; The 2,042.1-metre drilling program ABNAF-OTCQB; E2L-FSE] can earn an in 44 short holes resulted in 40 of them 80% interest in the Chico gold project from intersecting the REEs with 19 intersect- Taiga Gold Corp. 125 km east of La Ronge ing high-grade Total Rare Earth Oxides and 40 km south of SSR Mining’s Seabee/ (TREO). Highlights include hole RI-19- TOP: Unloading supplies from a Norseman float plane at Taiga Gold's Orchid gold- Santoy Mine complex. Past operator Eagle 001 (Richard Zone) with 7.575 wt% TREO uranium project 140 km east of La Ronge, Plains Resources completed fieldwork on over 8.9 metres core length starting at 9.8 Saskatchewan. Photo courtesy Taiga Gold the 4,657-hectare property, including air- metres down hole depth in a new dis- Corp. borne geophysics, mapping, trenching and covery between the Wilson and Charles soil sampling designed to define gold tar- surface zones. Hole IV-19-012 (Ivan Zone) gets for drilling. Rock samples collected in returned 16.059 wt% TREO over 15.55 2016 by Eagle Plains along this structural metres. corridor ranged from trace to 20.2 g/t gold. Appia has also been exploring its FEBRUARY/MARCH 2020 www.resourceworld.com 65 SASKATCHEWAN Loranger property 28 km southeast of Resources of 3.0 million lbs U3O8 (82,000 metres of 1.727 g/t gold Cameco’s Rabbit Lake mill, Athabasca tonnes averaging 1.7% U3O8 ). • Kaldo showing: 600 metres SE of Olson Basin. A positive PFS was completed for Lake, drilling traced mineralization over Cameco Corp. [CCO-TSX; CCJ-NYSE] Wheeler River in late 2018, considering 475 metres of strike length has a 50% interest in the Cigar Lake ura- the potential economic merit of developing • Drilling highlights include 18.3 metres nium mine, the world’s highest grade the Phoenix deposit as an ISR operation include 1.11 g/t gold and 8.5 metres of 2.82 uranium mine at 14.48% U3O8 (Orano and the Gryphon deposit as a conventional g/t gold 37.1% interest, Japanese partners 7.9% underground mining operation. • Coincident geophysics with mineraliza- and 5%). Since commissioning in 2014, the Denison’s interests in the Athabasca tion should help guide exploration mine has produced 64.9 million pounds basin also include a 22.5% ownership New drill targets were identified in 2018 (100% basis). Commercial operations interest in the McClean Lake joint venture began in May 2015. Ore is processed at the (MLJV), which includes several uranium Sherman Dahl, President, told Resource McLean Lake mill, operated by Orano. deposits and the McClean Lake uranium World that a field program will start in McArthur River/Key Lake and Rabbit mill, which is currently processing ore from June that will include prospecting, map- Lake operations are suspended. Cameco the Cigar Lake Mine, plus a 25.17% inter- ping and sampling. It is expected this also has a 70% interest in the Millennium est in the Midwest and Midwest A deposits, work will generate drill targets in addition Project. and a 66.51% interest in the J Zone and to those already identified by earlier geo- CanAlaska Uranium Ltd. [CVV-TSX; Huskie deposits on the Waterbury Lake physical programs. CVVUF-OTCQB; DH7N-FSE] has made property. Each of Midwest, Midwest A, J The field program will be followed by high-grade drill discoveries at the West zone and Huskie are located within 20 km a $700,000 diamond drilling comprising McArthur Joint Venture uranium project of the McClean Lake mill. 2,000 metres in four – six holes. where Cameco can earn a 60% interest. Eagle Plains Resources Ltd. [EPL- Regarding the NEX reactivation and The latest West McArthur high-grade drill TSXV] has added to its portfolio a number concurrent application for graduation results include 6.8% U3O8 over 0.70 metres of new projects exceeding 130,000 hect- to Tier 2 of the TSXV, the company com- within a broad 650 by 400-metre geo- ares targeting mainly gold and base-metals pleted a non-brokered private placement chemical halo extending from bedrock to in Saskatchewan. The company recently of 5,714,896 units of the company at a near-surface that provides strong support inked a formal agreement whereby MAS price of $0.17 per unit for gross proceeds for continued drilling of the Grid 5 target Gold has purchased a 100% undivided of $971,532. zone in 2020. interest in the 1,472-hectare North Lake Dahl said that the management team has CanAlaska has a 100% interest in the claims about 50 km north of La Ronge.