In an increasingly uncertain market environment as a result of the Fed communicating their intentions for more rate hikes, and ever stronger signals of a looming recession, Omai Gold Mines (TSXV:OMG) continues to explore for more gold in addition to their 3.7Moz resources for Wenot and Gilt Creek.

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.

 With the assays for deep step-out hole T2301 coming in, management of Westward Gold Inc. (WG.CSE) believes even more they are right on track to find economic mineralization at depth, in close analogy with the nearby 10 Moz Au Cortez Hills mine, or the underground portion of the Carlin complex (Portal Mines, Leeville) at depth, which generated over 15Moz Au for Nevada Gold Mines.

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.

Ice drilling at Regnault target, Frotet project, Quebec

As we seem to be at a pivotal point in the economy, with the Federal Reserve contemplating a halt in rate hikes, and potentially a more dovish stance for the second half of this year as a recession seems to be coming our way, sending the gold price to all-time highs recently, Kenorland Minerals (KLD.V)(3WQO.FSE)

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).