Company Updates From Management – Tue 8 Sep, 2020

AbraPlata Resources – Recapping lots of news from August and recent exploration drill results

AbraPlata Resources (TSX.V:ABRA – OTC:ABBRF) had a busy month of August. The Company raised C$18million, including $9.9million from Eric Sprott. This enabled the Company to increase its drill program to 8,000 meters, from 3,000 meters at the Diablillos Project in Salta, Argentina. There was also two drill holes that were announced last week.

John Miniotis, President and CEO of AbraPlata and David O’Connor, Chief Geologist, join me to review all the news over the past month. We also focus on the recent drill results at the new deeper gold target.

If you have any follow up questions for John and David please email me at Fleck@kereport.com.

Click here for a summary of the recent news releases.

Fig 3. Cross-Section (Looking East)
Here is Figure 3 from the news release. This is to reference David answer on the geology of the deposit.


Comments:
  1. On September 8, 2020 at 9:15 am,
    b says:

    Gold & Stock Market: Key Tactics Now
    Stewart Thomson

    4 A consolidation of the enormous rally could see gold pull back to the key weekly chart high at $1788, or even to the low at $1671.

    5 From there, gold should rise above the $2000 marker in a more permanent way.

    24 Silver bullion and silver stocks are the strongest sector of the precious metals asset class right now, and if investors don’t have a position, the current market softness offers a solid opportunity to get onboard!

    • On September 8, 2020 at 9:27 am,
      OOTB Jerry says:

      I agree with ,,,,,,,,,, 5 and 24,,,,,,not so much with 4…”could”…is the key word.
      I just do not see gold retracing to those levels

      • On September 8, 2020 at 10:04 am,
        Excelsior says:

        Mr. Gold @Long_GoldSilver · 11 hours ago on Twitter:

        “Imagine it’s 2007 and you are looking at this chart. Would you buy $gold at this spot after a rally of almost 45% in 7 months?”

        https://pbs.twimg.com/media/EhXnoNOWkAASucm?format=png&name=large

        • On September 8, 2020 at 10:05 am,
          Excelsior says:

          Mr. Gold @Long_GoldSilver · 11 hours ago on Twitter:

          “Here’s the same chart again. The arrow is at the same spot of 2007.”

          “Do you still think it is impossible for $gold to rally another 300% to $5000 to $6000?”

          https://pbs.twimg.com/media/EhXqPc8XsAA28F1?format=png&name=large

          • On September 8, 2020 at 10:07 am,
            Excelsior says:

            Boom!! 👊👊 💪🤜🤑

        • On September 8, 2020 at 10:15 am,
          b says:

          I can say I did buy then Ex, I’ve bought about every month regularly for decades without being concerned with the price, charts etc.

          • On September 8, 2020 at 10:21 am,
            Excelsior says:

            b – smart plan. There is nothing wrong with dollar-cost-averaging in over time in any asset as a low stress, and steady accumulation strategy.

            The point Mr. Gold was making is that there were a lot of top callers then, and many would have fled to never return looking at the first chart, but once the 2007 spot on the chart was put into proper perspective on the larger 2nd chart, it points out how far Gold has really continued to run in the Secular Bull, and is a cautionary tale for those thinking we just saw the final high in the yellow metal based on their short term thinking.

          • On September 8, 2020 at 10:41 am,
            b says:

            Simple plan, maybe even a lazy plan.
            It really doesnt take much thought.

            A person just needs to understand gold.

            Course every one around here knows that, but when you speak to other people about gold, you find out just how rare that understanding is.

      • On September 8, 2020 at 10:11 am,
        b says:

        Ive lost the gold price forecaster comparison site address.
        It had the records of the “gurus” and experts.

        Do you happen to have it Jerry?

        On that site Mr Thomson really didnt have a great record of accuracy, other than anyone saying gold price would increase of course.

  2. On September 8, 2020 at 9:19 am,
    Excelsior says:

    Eric Sprott Funded Gold Explorer Pursues “Billion-Dollar Drill Hole” with Stephen Stewart Orefinders (ORX) (ORFDF)

    MiningStockEducation – Sept 8, 2020 #AudioInterview

    “Eric Sprott invested in Orefinders in February 2020 due to the discovery potential at its numerous projects in close proximity to Kirkland Lake Gold’s world-class Macassa Mine. Only after Sprott’s investment did the market begin to awaken to Orefinders’ compelling investment value proposition. Over the last five years, Orefinders operated under-the-radar and quietly assembled a portfolio of assets in the Kirkland Lake area that CEO Stephen Stewart believes could one day deliver “that billion-dollar drill hole.” Orefinders is gold explorer with the third largest land package on the Ontario side of the prolific Cadillac break in Canada and is about to commence six to nine months of non-stop drilling at its projects. In addition to the tremendous discovery potential, the company has an approximately one million gold ounce resource (historic and NI43-101) at its three projects combined as well as three control block positions in three prospective junior miners. In this interview, CEO Stephen Stewart explains the inherent value within Orefinders as well as the blue-sky discovery potential.”

    https://youtu.be/0EV69HUBuLA

    • On September 8, 2020 at 9:51 am,
      Excelsior says:

      (GAU) Galiano Gold Provides Nkran Exploration Update

      September, 08, 2020

      Drilling highlights (see Table 1 for details):
      Hole 012: 79 meters @ 4.7 g/t gold (from 1m to 80m) and 80 meters @ 3.9 g/t gold (from 84m to 164m)
      Hole 021: 43 meters @ 3.3 g/t gold (from 1m to 44m)
      Hole 022: 44 meters @ 3.2 g/t gold (from 14m to 58m)
      Hole 023: 62 meters @ 6.1 g/t gold (from 65m to 127m)
      Hole 025: 30 meters @ 21.5 g/t gold (from 128m to 158m)
      Hole 026: 27 meters @ 4.9 g/t gold (from 137m to 164m)
      Hole 028: 27 meters @ 3.7 g/t gold (from 93m to 120m)

      “Our in-pit drilling program has indicated that the Nkran mineralized system is continuing to depth,” said Greg McCunn, Chief Executive Officer. “While the drilling has improved our confidence in the third cut of the open pit that was envisioned in our life of mine plan, the results indicate that further drilling and engineering is required to determine if Nkran Cut 3 can be expanded or should be transitioned from an open pit to an underground mine.”

      https://www.galianogold.com/news/news-details/2020/Galiano-Gold-Provides-Nkran-Exploration-Update/default.aspx

      • On September 8, 2020 at 9:57 am,
        Excelsior says:

        Roxgold Announces New High Grade Discovery at Séguéla Hitting 19m at 26.1 GPT Au and 12m at 32.1 GPT Au at Koula Prospect

        by @businesswire on 8 Sep 2020

        “Rarely do you see results of this tenor in the very first drill holes into a new target,” stated John Dorward, President and Chief Executive Officer. “Koula is a recent addition to what is already a considerable portfolio of prospects, yet with these first batch of holes, Koula is demonstrating many similarities to Ancien – with comparable consistency and style of the high grade core, alteration style and steep southerly plunging nature.

        “Our goal this year at Séguéla has been to build upon the PEA and demonstrate the potential for the project to grow in quality, scale and scope. We believe that this year’s stream of exploration results, coupled with today’s announcement of a discovery, reinforce the potential for Séguéla to achieve this goal. With three rigs currently turning, we are confident that further exploration upside will continue to be realized. Permitting discussions continue to progress well and the Feasibility Study remains on track for completion early next year.”

        https://ceo.ca/@businesswire/roxgold-announces-new-high-grade-discovery-at-sgula

        https://ceo.ca/@businesswire/roxgold-announces-new-high-grade-discovery-at-sgula

      • On September 8, 2020 at 9:58 am,
        Excelsior says:

        Roxgold Announces New High Grade Discovery at Séguéla Hitting 19m at 26.1 GPT Au and 12m at 32.1 GPT Au at Koula Prospect

        by @businesswire on 8 Sep 2020

        “Rarely do you see results of this tenor in the very first drill holes into a new target,” stated John Dorward, President and Chief Executive Officer. “Koula is a recent addition to what is already a considerable portfolio of prospects, yet with these first batch of holes, Koula is demonstrating many similarities to Ancien – with comparable consistency and style of the high grade core, alteration style and steep southerly plunging nature.

        “Our goal this year at Séguéla has been to build upon the PEA and demonstrate the potential for the project to grow in quality, scale and scope. We believe that this year’s stream of exploration results, coupled with today’s announcement of a discovery, reinforce the potential for Séguéla to achieve this goal. With three rigs currently turning, we are confident that further exploration upside will continue to be realized. Permitting discussions continue to progress well and the Feasibility Study remains on track for completion early next year.”

        https://ceo.ca/@businesswire/roxgold-announces-new-high-grade-discovery-at-sgula

    • On September 8, 2020 at 10:14 am,
      Excelsior says:

      Novo Closes Initial Tranche of Sprott Facility Concurrently With US$3.6 Million Non-Brokered Financing and Completes Acquisition of Millennium Minerals Limited

      by @nasdaq on 8 Sep 2020

      “The Company is also pleased to announce that it has closed the initial tranche of its $60 million four-year credit facility with Sprott Private Resource Lending II, LP. The funds are available in two tranches, with the first $35 million drawn down and the remaining $25 million available to be drawn until March 31, 2021, at Novo’s sole discretion, upon delivery of a pre-feasibility study acceptable to Sprott on the Company’s Beatons Creek gold project and the satisfaction of certain other conditions. The Company will also pay to Clarus Securities Inc. and Stifel GMP a 4.5% cash fee on amounts drawn under the Sprott Facility.”

      https://ceo.ca/@nasdaq/novo-closes-initial-tranche-of-sprott-facility-concurrently

      • On September 8, 2020 at 10:28 am,
        Excelsior says:

        Good thoughts from The Hedgeless Horseman today regarding Novo:

        @HHorseman “Thanks guys. I can’t for the life of me not understand how anyone would call NVO expensive.”

        “or overvalued… Like, as long as BC [Beaton’s Creek] performs even close to what has been hinted that it will perform then we have a smorgosbord of upside we ain’t paying for IMHO.”

        https://ceo.ca/nvo?9554d431cadb

        • On September 8, 2020 at 10:47 am,
          Excelsior says:

          Here is a nice recap of an email response back from Quinton Hennigh to a Novo shareholder @TX about their newly acquired mill operations:

          @Tx: – “QH is always optimistic.
          > @QH: – “It’s a much better driver than pessimism.”

          @Tx – “The mill was operational when It went into Care and Maintenance. The question is really if Novo can perform the modifications they want prior to the restart-up. I think by year’s end is reasonable.”
          > @QH: – “Absolutely can”

          @Tx: – “And as I mentioned yesterday, the mill upgrades that MOY was pursuing are no longer problematic. That’s because they won’t be pursued. Likely ever. No technical difficulties there.”
          > @QH: – “He is correct, we do not need any of the complicated stuff they were trying to use. Only need to add a beefier gravity circuit for the coarse gold.”

          @Tx: – “But a mill recommissioning is only one aspect. It’s the indication of profitable gold output that will drive the market. That’s what’s really needed – the initial sign that a significant scale and positive business model is at hand.”
          > @QH: – “Correct, and we can achieve this”

          @Tx: – “That may take to Q2 or Q3 of 2021. And that’s what I am looking to see.”
          > @QH: – “We should get a good indication by Q2”

          https://ceo.ca/nvo?0acb9165ecfd

      • On September 8, 2020 at 11:11 am,
        David says:

        I liked QHs comments about taking Novo to production the first of the year. I was originally going to sell De Grey as I now have gone from red to 300% gain and add to my Novo. Then it looked like DeGrey was going to upgraded on one of the ASX exchanges the end of September. I regrouped and sold my Silver Grail at a profit as one board member kept selling and selling over time and it bothered me. Rather than add any more new stuff, I stuck to consolidating into Novo. I then added some also to Pure Gold. Guliano Gold looked good. The real crusher I did not want to do was sell some Amex to buy Novo. I had a loss in Amex as a result of this “go nowhere summer channel”, but looked to me Novo is heading down that long term track. I would like to see this hum-drum stuff end so I can make better judgements about what is going to move.

        • On September 8, 2020 at 11:20 am,
          David says:

          A pop in Pure Gold after my add. I need to complain more about the evil doers.

        • On September 8, 2020 at 1:35 pm,
          Excelsior says:

          Hi David – Good reflections there on Novo, De Grey, Silver Grail, Pure Gold, Galliano Gold, and Amex. Yes, balancing one’s portfolio always involves making a definitive choice to decrease one position and increase another. Personally I do my best with each decision based on both the macro backdrop and the micro fundamentals and technical setup of the individual company. None of us can get it right all the time, but I just try to be more right than wrong, and press my winners higher, and cut loose the losers earlier on. Ever Upward!

          • On September 8, 2020 at 2:11 pm,
            David says:

            I knew if I didn’t add to Novo, I would not stop thinking about it. Amex has not moved despite drill results. It may have been nothing more than publishing them on the wrong days. However, I have been in Novo for years and never gave up on their plan and progress. I finally decided that Amex could have another day if they prove themselves down the road. Largest holdings now: Great Bear, Novo, Pure Gold, Discovery, Irving, vizsla, Lion One, Blackrock, Freegold, Metallic and Impact…then a bunch of others. Satisfied at the moment. Maybe….

          • On September 9, 2020 at 8:27 am,
            Excelsior says:

            That’s a good list of companies in your largest holdings. You’ll do excellent in this PM bull with those kinds of solid companies with good teams, and you are a good stock picker David. Well done sir!

  3. On September 8, 2020 at 9:27 am,
    Excelsior says:

    (DV) (DOLLF) Dolly Varden Silver Expands Exploration and Resource Expansion Drilling Program

    by @newswire on 8 Sep 2020

    “Dolly’s geological team is very excited about the prospects along the Torbrit Mine Trend. Torbrit hosts our highest-grade area of the current mineral resource with overlapping styles of high-grade silver mineralization,” said Shawn Khunkhun, President and CEO of Dolly Varden Silver. “We look forward to updating our shareholders with the assays for our drilling completed to-date, and we are prepared to continue exploring through the fall season with the purpose of maximizing the results of our drill plan and budget.”

    https://www.dollyvardensilver.com/news/2020/dolly-varden-silver-expands-exploration-and-resource-expansion-drilling-program/

    • On September 8, 2020 at 9:37 am,
      Dick Tracy says:

      Tesla’s stock has been diverted by a meteor shower, it is headed for a crash landing on Mars! LOL! DT

      • On September 8, 2020 at 9:40 am,
        Excelsior says:

        What will all those FOMO traders do now? Yikes!

        I hope they are ready for a life on Mars. 🙂

        • On September 8, 2020 at 9:46 am,
          Dick Tracy says:

          I hope they don’t find out that Mars has been destroyed in an earlier era by a nuclear war and only ruins remain. DT

    • On September 8, 2020 at 9:38 am,
      Excelsior says:

      More mining companies should be utilizing this time to get dual listed. Way to go Excellon:
      ______________________

      (EXN) (EXLLF) Excellon Announces Application to List on the NYSE American and Share Consolidation

      by @newswire on 8 Sep 2020

      “Listing on the NYSE American provides enhanced access to the world’s largest and most liquid equity markets, which we believe will deliver exceptional value for our shareholders,” stated Brendan Cahill, President and CEO. “Both institutional and retail investors based in the United States will have significantly greater ability to invest in Excellon through more familiar platforms. With our Platosa operation offering direct exposure to ongoing increases in the silver price, our Kilgore project offering growth potential and leverage to gold in the excellent jurisdiction of Idaho and Silver City offering a near-term, high-grade silver discovery opportunity, we believe that Excellon will be a compelling story for American investors in this rising precious metals market.”

      https://ceo.ca/@newswire/excellon-announces-application-to-list-on-the-nyse

  4. On September 8, 2020 at 10:17 am,
    Dick Tracy says:

    In view of what is happening, it is enlightening to look and see what the financial wizards are saying at this juncture, my favorite is Ron Paul. Ron say’s we are in the biggest financial bubble The World has ever seen. R.O. Ron! https://www.kitco.com/news/2020-09-08/Ron-Paul-It-s-the-biggest-financial-bubble-in-the-history-of-monetary-policy-Pt-1-2.html