As Westward Gold Inc. (WG.CSE) is looking to expand, in order to be able to attract more financing, they are also building on their team, and the most recent hire reflects this in spades according to management. Incoming VP Exploration Robert Edie will be stepping up to the plate at the end of September, while transitioning to this position effective immediately.
It has been quiet for a while, since Westward Gold Inc. (WG.CSE) released the results of their first deep confirmation hole at their flagship Toiyabe project in Nevada on May 23, 2023. The company used the positive outcomes (12.7m @ 1.01g/t Au from 556.4m aren’t economic in itself but are very important vectors for analogous deposits like Cortez Hills, being hosted in the same type of host rocks) to return to the markets, and raise fresh cash for a follow-up drill program.
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.
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.
You have to hand it to them, the timing of Golden Independence Mining (CSE: IGLD, OTCQB:GIDMF, FRA:6NN) announcing their maiden resource estimate (MRE) on their Independence project in Nevada is pretty good, as precious metals sentiment becomes increasingly more positive, and other assets like bitcoin just seemed to have bowed out as a serious alternative, after getting into a tailspin of epic proportions, losing over 25% of value in one day.
Although gold has to battle higher interest rates, a stronger dollar and Bitcoin beating all time highs as I am writing this, Golden Independence Mining (CSE: IGLD, OTCQB:GIDMF, FRA:6NN) doesn’t appear to get fazed, and apparently has no trouble raising cash.
There are lots and lots of interesting gold projects to be found in Nevada these days, and most of them are in the hands of large entities like Nevada Gold Mines, Kinross, Coeur, Waterton etc. Once in a while, much smaller parties manage to dig up interesting projects, and one of those is optioned by tiny junior Golden Independence Mining (CSE: IGLD, OTCQB:GIDMF, FRA:6NN).
After closing an oversubscribed private placement of C$2.01M @C$0.22, Cypress Development (TSXV: CYP; OTC: CYDVF; FRA: C1Z1) is sufficiently cashed up to proceed towards a Pre Feasibility Study (PFS) on their Clayton Valley Lithium project in Nevada, which is scheduled for Q1 2019.
Despite negative sentiment in commodities and especially lithium of late, Cypress Development (TSXV: CYP; OTC: CYDVF; FRA: C1Z1) keeps delivering the goods at their Clayton Valley Lithium project in Nevada at high speed. A Preliminary Economic Assessment (PEA) was announced at September 6, 2018, and the resulting economics were impressive.
This article was published first on www.criticalinvestor.eu, a platform for junior mining
Some juniors can be agonizingly slow on following up to their self-imposed timelines and ability to deliver results, however there are exceptions to the contrary. Cypress Development (TSXV: CYP; OTC: CYDVF; FRA: C1Z1) is proceeding at breathtaking pace, going from their first drill hole at their Dean claystone lithium project in Nevada, US to the very recent announcement of a maiden resource estimate on both Dean and Glory projects in just over a year.