It took a while, but Avrupa Minerals (TSXV:AVU)(OTC:AVPMF) and JV partner Sandfire MATSA finally intercepted a substantial mineralized interval at Sesmarias, after the discovery hole from 2014 intersected 7.95m @ 2.21% Cu, 4.82% Zn, 3.05% Pb and 89.8g/t Ag from 150m.

Ice drilling at Regnault target, Frotet project, Quebec

With a recession looming large in the US but continuously delayed, the Fed unsure whether to hike one last time or to pause, the debt ceiling bill passed through the Senate, and inflation going down, there are a lot of mixed signals to take into account for the stock markets.

After reporting an excellent 125m @ 1.631g/t AuEq including 1.52m @ 3,477g/t Ag from 126.5m depth (residual grade of 54g/t Ag) on their first hole at Tombstone Project in Arizona, Aztec Minerals (AZT: TSX-V, OTCQB: AZZTF) delivered more strong results on June 5, 2023.

With the threatening debt ceiling default off the table for now, and markets slightly positive because of it, Gold Terra Resource (TSXV:YGT)(OTCQX:YGTFF) (FRA:TXO) managed to raise C$4.6M in the markets through a short form offering. The proceeds of the issued common shares and flow through shares enables the company to follow up on the ongoing drill program at the Con Mine Option Property as part of their Yellowknife project in the Northwest Territories.

In these times of increased uncertainties, with a recession looming, a US government that last minute avoided a potentially catastrophic default by approving the debt ceiling bill, and a Fed doubting if they should raise interest rates further or not as inflation is on the way down but still high, Inomin Mines (MINE.V)(FRA:IMC)

After a period of relative quietness for Avrupa Minerals (TSXV:AVU)(OTC:AVPMF), things are becoming more active again as Alvalade drilling is completed with results coming from the labs soon.  Exploration planning including first drilling on the first Finnish project will be commencing in June, as the company was recently granted permits.

1. Introduction

It isn’t very easy these days for junior explorers to go for large discoveries, as most of the low hanging fruit is long gone by now. Significant deposits can still be found, but geologists have to be very creative and inventive, to come up with new exploration concepts, for example using glacial till sampling, re-interpreting old data, or conceptualizing potential mineralization under cover.

In a time where market sentiment seems to be turning slightly negative, with a Fed pivot still up for debate, Tectonic Metals (TECT:TSX.V; TETOF:OTCQB; T15B:FSE) doesn’t seem to have much trouble raising cash, as it doing a brokered private placement at the moment, aiming at gross proceeds of C$6M.

After Aztec Minerals (AZT: TSX-V, OTCQB: AZZTF) commenced drilling at Tombstone in Arizona at the end of February, the first result came in on April 26, 2023, and it was pretty spectacular. As the company was drilling for oxidized gold in order to expand the mineralized envelope, estimated by me at about 600koz Au, high grade gold was also hit in first hole TC23-01, generating 125m @ 0.577g/t Au and 72g/t Ag from 53.3m depth, including an impressive 7.65m @ 733.92g/t Ag, which included an excellent 1.52m @ 3,477g/t Ag from 126.5m depth (residual grade of 54g/t Ag).

It is becoming harder and harder to navigate the economic environment these days. There are so many contradictory factors at play that nobody knows anything for sure these days. The Federal Reserve is contemplating one last rate hike in May on mixed but overall positive data coming in on Friday April 16, 2023, which might be followed by a pause and even rate cuts, in order to provide the economy with a “soft landing”.