Zijin Mining Group Company Limited (2899.HK)
HKSE - HKSE Delayed Price. Currency in HKD
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Other OTC
Rating
Outperform
Unchanged
Current Price
$0.19
Target Price
$0.75
Market Capitalization
15.87M
Shares Outstanding
85.75M
Float
85.75M
Institutional Holdings
0.00001%
12-Month Low/High
$0.14/$0.39
Average 90-Day Volume
FenixOro Gold Corp.
A Good Story Keeps Getting Better
Abriaqui drilling program. Phases 1 and 2 were completed with a total of 16 holes, representing 8,062 meters of drilling, in the northwestern portion of the Abriaqui property. The program identified multiple mineralized veins with favorable gold grades, mineralized zones of up to 20 meters thickness with eventual bulk underground mining potential, and greater than expected depth of mineralization.
Outstanding drill results. The company released additional drill results, including the deepest intersection of ore grade gold to date. Hole P014 was drilled to a depth of 1,008 meters and intersected 15.71 grams of gold in the Orquidea vein at a elevation of 1,245 meters. This intersection is 300 meters deeper than any previously known mineralization in the Abriaqui district. The company is awaiting drill results for Holes P015 and P016.
Positive implications for resource model. Based on a small sample of drilling data from the Phase 1 drilling program, management formulated a preliminary minimum target resource model of 1.6 million to 2.4 million gold ounces based on 4 of over 100 mapped veins. Based on drilling results to date, we believe this range may prove conservative. In addition to incorporating new veins into the resource model, the Orquidea vein underscores the potential to add another 300 meters of vertical depth for all veins in the district.
Rating is Outperform. To date, the drill results have been outstanding and underscore the Abriaqui project’s significant and growing gold resource potential. Six wider zones of mineralization have been discovered on four different veins in the northern portion of the project area that are characterized by high grade gold in the core of the veins surrounded by thicker zones of lower grade mineralization. A second drill rig has been deployed in the southeast license area which has not been previously drilled and represents significant mineral resource potential.
"NO" to NeoLithium mine grab!
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