Silver & PGMs Snapshot: Eight juniors to look at 

Silver stays a main goal for mineral explorers and miners, and platinum group metals (PGM) similar to platinum and palladium are of accelerating curiosity attributable to their use in electrical automobiles and gas cell applied sciences. Here’s a take a look at eight juniors exploring for and creating silver and PGM initiatives. 


Primarily based in Canada and Brazil, Bravo Mining (TSXV: BRVO) is targeted on advancing its 100%-owned Luanga platinum group metals-gold-nickel challenge. The 78.1-sq.-km property lies throughout the Carajás mineral province of Brazil within the central-eastern area of Pará state, about 500 km south of Pará’s capital metropolis of Belém.  

In September, Bravo reported assay outcomes from the re-analysis of 5 historic drill holes on Luanga, which the corporate says proceed to correlate carefully with the unique assay ends in each tenor and mineralized thickness. 

Highlights from the re-analysis included PPT-LUAN-FD0014, which intersected 12 metres grading 5.42 grams palladium per tonne, 2.62 grams platinum per tonne, 0.41 gram rhodium per tonne, and 0.04 gram gold per tonne (8.49 grams PGM+gold per tonne) ranging from 10 metres downhole. The interval included a shorter 2-metre part of 15.3 grams palladium, 7.51 grams platinum, 1.14 gram rhodium, and 0.08 gram gold (24.03 grams PGM+gold). 

Commenting in a Sept. 13 press launch asserting the re-analysis, Luis Azevedo, Bravo’s CEO, mentioned the corporate was inspired that the outcomes  correlated properly with Vale’s historic ends in each thicknesses and grades, “additional rising our confidence within the prior work accomplished at Luanga.” 

The corporate mentioned that drilling has already began on the following drill part to the north of the high-grade nickel/copper huge sulphides intersected in a earlier gap, DDH22LU047, with six drill rigs working on the location. A floor fixed-loop transient electromagnetic survey can be anticipated to start out shortly. 

Up to now, 71 drill holes have been accomplished, for a complete of 11,770 metres (or 46% of the primary section of drilling), together with 5 twin holes and 6 metallurgical holes, with assay outcomes pending for 38 holes, together with 16 historic re-assay drill holes. 

Bravo Mining has a market cap of $171.7 million. 


Ontario-headquartered Canadian North Sources (TSXV: CNRI) is advancing its 100%-owned Ferguson Lake base metallic and PGM challenge within the Kivalliq area of Nunavut, about 250 km west of Rankin Inlet. 

The Ferguson Lake space covers an extension of the Yathkyed greenstone belt and totals 253.8 sq. km, together with 96.9 sq. km of mining leases and 156.9 sq. km of exploration claims. The property includes the South Discovery zone, 119 zone, West zone, West Extension zone, West South zone, Central zone, East zones I and II, the M-zone, and Anomaly 51, which lies alongside the over 15-km-long magmatic sulphide mineralization belt. 

In September, Canadian North launched assay outcomes for the primary 28 holes (7,594 metres) of drilling on Ferguson Lake. Highlights included holes FL22-442, which intersected 31 metres grading 1.28% copper, 0.81% nickel, 0.09% cobalt, 2.02 grams palladium per tonne, and 0.29 gram platinum per tonne from 55 metres downhole; FL22-443, which returned 28.5 metres of 0.8% copper, 0.52% nickel, 0.06% cobalt, 1.38 grams palladium, and 0.19 gram platinum from 30 metres; and FL21-436, which hit 10 metres of 1.72% copper, 0.81% nickel, 0.07% cobalt, 2.07 grams palladium, and 0.23 gram platinum from 123 metres. 

The corporate mentioned that drilling is a part of the continuing 2022 drill program consisting of 15,000 metres in 60 holes and is targeted on increasing and upgrading mineral sources alongside the West and East zones of the primary mineralized horizon. Of the 28 holes with returned assay outcomes, eight holes had been drilled to infill earlier drilling within the West zone, with the holes confirming the continuity of identified zones. Canadian North mentioned that the outcomes from these infill holes might be added to the dataset to enhance the block mannequin for the useful resource estimate and to improve the mineral sources. 

Ferguson Lake at the moment comprises 24.3 million indicated tonnes grading 0.85% copper, 0.6% nickel, 0.07% cobalt, 1.38 grams palladium per tonne, and 0.23 gram platinum for 455.4 million lb. contained copper, 321.4 million lb. nickel, 37.5 million lb. cobalt, 1.1 million oz. palladium, and 180,000 oz. platinum. Inferred sources add 47.2 million tonnes grading 0.91% copper, 0.53% nickel, 0.06% cobalt, 1.4 grams palladium, and 0.25 gram platinum for 946.9 million lb. copper, 551.5 million lb. nickel, 62.4 million lb. cobalt, 2.1 million oz. palladium, and 380,000 oz. platinum. 

Canadian North Sources has a market cap of $259.2 million. 


Clear Air Metals (TSXV: AIR; US-OTC: CLRMF) is a Canadian-based platinum and palladium explorer centered on advancing its flagship 100%-owned Thunder Bay North challenge, situated about 50 km northeast of the town of Thunder Bay in northwestern Ontario. 

In August, Clear Air launched new assay outcomes from its 2022 drill marketing campaign at each the Escape and Present PGM-copper-nickel deposits on Thunder Bay North. 

Clear Air’s Thunder Bay North website in Ontario. Credit score:  Ethan Beardy, Clear Air Metals

Three metallurgical bulk pattern holes had been highlighted in an Aug. 25 press launch asserting the outcomes. These included CLM22-007, which intersected 19 metres grading 3.92 grams platinum per tonne, 3.9 grams palladium, 0.98% copper, and 0.56% nickel from 153 metres downhole, together with 13.4 metres of 5.06 grams platinum, 5.14 grams palladium, 0.98% copper, and 0.56% nickel. Gap CLM22-008 returned 37.8 metres grading 2.91 grams platinum, 2.8 grams palladium, 0.7% copper, and 0.39% nickel from 107 metres, together with 19.2 metres of 4.25 grams platinum, 4.14 grams palladium, 0.99% copper and 0.55% nickel; and CLM22-010 lower 22.6 metres of two.33 grams platinum, 2.17 grams palladium, 0.62% copper, and 0.41% nickel from 332 metres. 

“The drilling assay outcomes are in keeping with expectations for peer-leading mill head grade within the first seven years of mining at Thunder Bay North,” mentioned Abraham Drost, Clear Air CEO, in a press launch. “Appreciable upside exploration potential for large sulphides exterior the [assessment] manufacturing space stays on the base of the Escape and Present magma conduits alongside the Escape Lake fault.”  

The corporate mentioned that it’s increasing its work allow footprint to accommodate a drill program on these targets this winter. Along with metallurgical drilling, Clear Air can be conducting a 17,000-metre enlargement drill program this yr at Thunder Bay North and expects to launch a prefeasibility examine in Might or June 2023, with environmental baseline fieldwork, engineering research, and hydrogeological drilling take a look at work all underneath approach. 

Clear Air Metals has a market cap of $33.4 million. 


Toronto-headquartered Discovery Silver (TSXV: DSV; US-OTC: DSVSF) is creating its Cordero silver-lead-zinc challenge in Mexico’s Chihuahua state, roughly 300 km southwest of Chihuahua Metropolis and 600 km from the border with the USA. In line with the corporate, Cordero is among the world’s largest undeveloped silver sources. 

In August, the Canadian junior reported outcomes from metallurgical testing as a part of an upcoming prefeasibility examine on the property.  

Discovery Silver says that the assessments had been carried out on a number of sorts of samples, with the highest-grade recoveries returning 94% to 98% silver, 89% to 97% lead, and 92% to 96% zinc. Medium-grade samples of blended rock varieties had recoveries of 83% to 92% silver, 84% to 92% lead, and 81% to 89% zinc. When oxide and sulphide samples had been blended, it mentioned that oxide-specific recoveries had been 60% silver, 40% lead, and 85% zinc by way of flotation.  

“Our PFS metallurgical take a look at outcomes display the distinctive metallurgical properties of our Cordero deposit,” mentioned Tony Makuch, the corporate’s interim CEO, in an Aug. 29 press launch. Makuch famous that recoveries usually ranged from 85-95% at a particularly coarse grind measurement of roughly 210 microns. “On common recoveries got here in larger than what was assumed in our PEA and had been achieved at considerably decreased reagent consumption highlighting the potential for decreased working prices for our PFS.” 

He added that the corporate’s first ever flotation testwork of an oxide-sulphide mix returned “very optimistic outcomes,” with financial recoveries for oxide mineralization for silver, lead and zinc via flotation. “These outcomes enable for the elimination of the heap leach circuit in our PFS; this can streamline the crushing/grinding circuit, scale back upfront capital expenditures and simplify the allowing course of,” Makuch mentioned.    

Discovery Silver has a market cap of $322.9 million. 


Magna Mining (TSXV: NICU) is an exploration and improvement firm centered on nickel, copper, and PGM initiatives close to Sudbury, Ont.  

The Canadian junior’s flagship asset is the past-producing Shakespeare mine, which is permitted for the development of a 4,500-tonne-per-day open-pit mine, processing plant, and tailings storage facility and is surrounded by a contiguous 180-sq.-km potential land package deal. The challenge is about 70 km south of Sudbury. 

In September, Magna introduced that it had acquired conditional approval from the TSX Enterprise Alternate of its proposed acquisition of 100% of Lonmin Canada Inc., whose belongings embrace the Denison challenge and the past-producing Crean Hill nickel-copper-platinum group parts (PGE) mine, each situated within the Sudbury basin and about 37 km east of Shakespeare. 

Magna pays a complete of $16 million for the belongings, as per a share buy settlement between Magna, Loncan, and present Loncan shareholders — being Sibanye UK Ltd. (previously Lonmin Ltd., and a subsidiary of Sibanye Stillwater [NYSE: SBSW]), Wallbridge Mining (TSX: WM), which holds 16.5% possession, and sure different minority shareholders. The acquisition value for the excellent shares of Loncan features a closing fee of $13 million in money and a deferred fee of $3 million.  

“The Crean Hill mine was a big producer within the Sudbury basin for greater than 80 years and we consider the Denison challenge has potential so as to add large worth via improvement of the remaining historic mineral sources and extra exploration on the property,” mentioned Jason Jessup, Magna’s CEO in an Aug. 16 press launch asserting the proposed acquisition. He added that the profitable closing of the transaction “might be transformative for Magna and has a number of potential synergies with Magna’s absolutely permitted, superior stage Shakespeare challenge.” 

Magna Mining has a market cap of $21.5 million. 


New Age Metals (TSXV: NAM; US-OTC: NMTLF) is a Canadian exploration and improvement firm centered on inexperienced metals initiatives in North America. The corporate has two divisions — one for platinum group metals and one for lithium/uncommon earth parts. 

The British Columbia-based junior is advancing its flagship 100%-owned, district-scale River Valley palladium challenge in Ontario, about 100 km northeast of Sudbury. The challenge is taken into account one of many largest undeveloped major palladium initiatives in North America, says New Age.  

Prospector Robert Freeman sampling in 2016 at New Age Metals’ Lithium One lithium property in Manitoba. The pattern bag sits on an outcrop of the Spodumene-Lepidiolite Zone. Photograph by Carey Galeschuk

In September, the corporate introduced up to date exploration plans for the challenge. It mentioned that exploration will concentrate on drill targets ranked and prioritized from drill testing within the fall of 2022 and winter of 2023, with the highest-ranked for testing on the Dana South Zone-Extension goal, the Dana South Zone-SET goal, Pine zone, and Banshee zone. 

New Age says {that a} diamond drill rig has been mobilized to website and is about to start the primary section of drilling at Dana South Zone-Extension, which was not too long ago recognized from assays from beforehand reported drillhole KP21-05. That gap intersected 84 metres grading 1.129 grams palladium+platinum+gold (3E) per tonne and 0.108% copper ranging from 197 metres downhole, together with 30 metres of 1.918 gram 3E and 0.183% copper and 18 metres of two.373 gram 3E. 

The corporate plans to check the goal with a five-hole, 1,550-metre drilling marketing campaign throughout September, and might be accomplished on two cross-sections to check for presence of the higher-grade mineralization many tens of metres up-dip, down-dip and southeast alongside strike of the KP21-05 intersection. 

Following completion of the drill program on the Dana South Zone-Extension goal, New Age says the drill rig could then be moved to the following precedence rating goal, doubtless the close by Dana South Zone-SET or the Pine Zone, 1 km to the north, which stays open to enlargement down-dip. 

A prefeasibility examine for River Valley can be ongoing, and it’s anticipated to be launched someday this yr, says the corporate. 

New Age Metals has a market cap of $14.4 million. 


Outcrop Silver & Gold (TSXV: OCG; US-OTC: OCGSF) is a Canadian explorer centered on valuable metals in Colombia. The corporate is advancing its exploration of 5 silver and gold initiatives within the historic Santa Ana high-grade silver district, together with Santa Ana, Mallama, Antares, Oribella, and Argelia. 

In August, Outcrop introduced that it continues to generate new exploration targets via mapping, trenching, and sampling on its 100%-owned Santa Ana high-grade silver challenge, with the main target of the work alongside the 8.5-kmlong Frias-La Ye development south of the Aguilar vein system. 

Highlights from the sampling embrace three new high-quality targets generated alongside Frias-La Ye. Within the Los Mangos goal, dump and outcrop samples returned as much as 9,738 and 4,545 grams silver per tonne, respectively; in La Ye, an outcrop pattern yielded 5.48 grams gold and a couple of,141 grams silver, and an related float pattern from trenching returned 11.39 grams gold and 4,043 grams silver; in Frias, a float pattern returned 29.63 grams gold and an outcrop pattern returned 1,181 grams silver. Three further targets had been generated on the Aguilar, which the corporate says, will be the northern extension of the Frias vein system. 

“We’re thrilled with the outcomes from our complete goal technology program, and we’re working exhausting to arrange much more targets to drill later within the yr,” mentioned Guillermo Hernandez, Outcrop’s vice-president of exploration, in an Aug. 23 launch. 

“As we progress in our efforts to generate our first compliant useful resource estimation on the finish of the yr, we proceed to advance prospects within the property, with the target to shortly add extra potential useful resource areas.”  

Outcrop Silver & Gold has a market cap of $32.9 million. 


Headquartered in Vancouver, Reyna Silver (TSXV: RSLV; US-OTC: RSNVF) has a portfolio of high-grade, district-scale silver initiatives in North America. These embrace El Duranzo, Matilde, Batopilas, La Reyna, and Guigui in Mexico; Drugs Springs in Nevada; and the Trudeau gold challenge in Quebec. 

In September, the Canadian junior reported high-grade silver and gold outcomes from its late 2021 and mid-2022 floor and in-mine sampling program. This system centered on the realm surrounding the Silver zone of the historic Batopilas district in Chihuahua state. Reyna says that Batopilas is believed to be one of many highest-grade silver techniques in Mexico, having produced greater than an estimated 300 million oz. of native silver from ores that averaged over 1,500 grams silver per tonne. 

The corporate mentioned that out of almost 1,500 samples, over 10% reported between 1.1 and 32.6 grams gold per tonne, 6% reported between 199 and 14,170 grams silver per tonne, and about 25% reported a mix of gold and silver, with 16 samples returning over 1 gram gold per tonne plus over 100 grams silver per tonne.  

These outcomes, it mentioned, lengthen a number of identified Silver zone vein buildings by 300 metres to 1,200 metres and establish three new silver and a number of new gold-silver veins within the largely unexplored East Belt. Moreover, the geochemical outcomes seem to point that there are two separate gold levels superimposed on the silver mineralization in several elements of the camp, which signifies at the very least three mineralization levels, and are an indicator of enormous, long-lived mineralization techniques, mentioned Reyna. 

“Our outcomes from making use of trendy exploration strategies into the underexplored elements of the historic Batopilas district reinforce our perception that exploration has solely scratched the floor in Mexico,” Jorge Ramiro Monroy, the corporate’s president and CEO, mentioned in a Sept. 13 press launch. “We’re very excited to see what the drill reveals subsequent, not solely in these new additions to the Silver Zone, however within the new East Belt gold zone within the jap a part of the district.” 

Reyna Silver has a market cap of $36 million.

Similar Articles



Please enter your comment!
Please enter your name here



Most Popular