Welcome to this weeks Rock Report Newsletter 7-13th April
Our sponsor Renforth Resources Inc. (CSE:RFR) has updated their resource at #Parbec Gold deposit along the Cadillac Break. Measured+Indicated 9.61 million tonnes @ 0.86 g/t Au
For more information, visit the link below
Late stage Exploration
Aya Gold & Silver has announced an extension of the mineralization at the Boumadine mine in Morocco.
A significant drill intercept has expanded the Tiki target mineralization at Boumadine, revealing both high-grade gold and silver, along with base metals. Notable intersections include 16.8 meters grading 1.39 g/t Au, 98 g/t Ag, and 5% combined Zn+Pb, which equals an impressive 334 g/t AgEq. Another important intercept consisted of 17.8 meters with a calculated 293 g/t AgEq, featuring 0.55 g/t Au, 74 g/t Ag, 0.1% Zn, 0.1% Pb, and 0.2% Cu.
The silver equivalent was calculated using an 89% recovery rate at a silver price of US$24/oz and a gold price of US$2,200/oz, along with a process recovery of 85%. The zinc price was set at US$1.20/lb with a 72% process recovery, the lead price at US$1.00/lb with an 85% recovery, and copper at US$4.00/lb with a 75% recovery. This resulted in the following conversion ratios: 1 g/t Au is equivalent to 77.9 g/t Ag; 1% Cu is equivalent to 85.4 g/t Ag; 1% Pb is equivalent to 24.2 g/t Ag; and for zinc, the ratio remains to be specified.24.6 g/t Ag
The company has drilled a total of 117 holes this year, amounting to 46,207 meters, all focused on delineating targets at the Boumadine project. However, they are not finished yet; a significant aspect for Aya is their plan to drill an additional 100,000 to 140,000 meters, with 11 rigs actively mobilized on site. With this in mind, we will be closely following updates on the project.
Heliostar Metals Ltd continues to strike it rich in Mexico at the La Colorada Mine
This week, the company announced its first assay results from the 2025 drilling at the La Colorada mine in Mexico. This project has a probable reserve of 18.16 million tonnes, with grades of 0.65 grams per tonne (g/t) of gold and 8.69 g/t of silver, totaling approximately 377,000 ounces of gold and 5.07 million ounces of silver. Recent assay results indicate that higher-grade materials could be a significant catalyst for the project, with drill intercepts showing promise.
8.85m grading 25.0 g/t gold and 768 g/t silver
8.55m grading 5.52 g/t gold and 121 g/t silver
3.5m grading 5.41 g/t gold and 87 g/t silver
5.5m grading 11.1 g/t gold
2.9m grading 10.5 g/t gold
4.6m grading 5.78 g/t gold
5.75m grading 4.72 g/t gold
Importantly, with around $30 million in the bank and two gold-silver projects in La Colorada and Ana Paula (both currently drilling), the company appears well-positioned for success given the high gold prices. Notably, half of the current funds have been generated through operational income, which is an achievement in itself.
Early Stage Exploration
Onyx Gold Corp. Went for a ride this week up to yearly highs
Visible gold is becoming a common phenomenon, but at Onyx, it is truly a daily occurrence. Perhaps you saw the sample that the company showcased at PDAC this year. This has indeed translated into impressive drill results, with 69.6m@3.4 g/t Au representing a world-class intercept.
You may have heard of the nugget effect, where free gold can lead to inconsistent results, resulting in complex mining plans and dissatisfied shareholders. In a recent press release, the company mentioned that the source of mineralization is free gold within strongly altered mafic variolitic volcanics, characterized by albite and silica alteration. Having 70 meters of gold mineralization is impressive in itself, but the presence of free gold makes it truly remarkable.
The project is called Munro-Croesus and is located 75 km east of Timmins, Ontario. The Timmins gold camp is a globally significant gold trend, featuring both historically and currently producing world-class assets.
Amex Exploration (TSXV: AMX | FSE: MX0 | OTCQX: AMXEF) has presented a strong case for base metals at the Perron project.
Recently announced drill hole PEG-25-854 yielded remarkable results: 39.06 g/t Au, 331.92 g/t Ag, 1.14% Cu, 3.38% Zn, and 2.35% Pb over 1.30 meters. This includes an impressive 48.27 g/t Au, 468.00 g/t Ag, 1.72% Cu, 4.48% Zn, and 3.21% Pb over 0.80 meters, at a vertical depth of approximately 105 meters.
The Perron project, located in Northwestern Abitibi, has produced noteworthy drill intercepts over the years. The current drilling is interpreted to have intersected a hydrothermal feeder with cross-cutting gold-bearing quartz-sulfide veins.
The interpretation of geology and mineralization envelopes appears to be well understood, according to the latest press release. AMEX has been focused on drilling at Perron for several years, with some notable highlights from their drilling efforts a few years ago.
Linear Minerals, formerly known as FE Battery Metals, has announced lithium intercepts at its Augustus claim in Quebec.
This week, the company reported two separate drill intercepts: one with 1% Li2O over 8.9 meters, and another with a notable 1.09% Li2O over 5 meters. The Augustus claim is located 50 kilometers north of Val d’Or township and is easily accessible via two highways, Highway 111 and Highway 397.
Lithium mineralization in the area is characterized by spodumene-bearing pegmatites and holmquistite-bearing basement rocks. The project is situated near the operating facilities of Sayona Lithium, which boasts mineral resources of 87 million tonnes at 1.05% Li2O.
Linear has been actively drilling at Augustus for several months and is among the few lithium companies still conducting drilling in the region. While spodumene typically serves as the main carrier of lithium within the pegmatites, the company also mentioned holmquistite, an aluminum-magnesium-lithium silicate that forms in the reaction zones between lithium pegmatites and their host rock. This mineral is often used as a pathfinder for locating lithium pegmatites.
