A new pick from Allan Barry Reports
Walker River Resources (WRR.V)Walker River Resources announced high-grade gold results this morning, with a highlight hole of 1.5 metres of 198 g/t gold, from their Lapon Canyon project in Yerrington, Nevada.
That high-grade intersection was included in a broader intersection of 13.7 metres of 31.1 g/t gold. I really like to see that high-grade gold, especially in projects in Nevada which is one of the most mining friendly jurisdictions worldwide. Additionally, Nevada offers exceptional geological prospects, and low cost exploration and mining.
In the news release, they talk about a broad structural zone of rock that is well prepared for mineralization, they call it the Lapon Rose zone. Gold is well distributed throughout the zone with higher-grade mineralization over significant widths as is evident in the drilling results announced.
The drilling is leading them to intense alteration and the higher grade gold, which puts them in a great position for more success with the truth machine in future drilling.The drilling was focused on infill and step-out drilling in the Lapon Rose zone and drilling new targets.
The zone has been drilled to a strike length of approximately 365 metres, around 150 metres wide and 200 metres of depth. They also drilled a hole that is located around 325 metres away, with previously reported assays of 6.1 metres of 18.6 g/t gold. That hole opens up the possibility of an extension of the Lapon Rose zone or a new zone. Either way, that is a very impressive hole that opens things up nicely and compliments the results announced today.
The quote in the news release from this morning is very good at putting the results in perspective. Michel David, President states: "We are very excited and encouraged by these and past drill results which confirm the potential of the project. Most of the holes drilled in the Lapon Rose zone have returned significant gold grades and widths. We have also extended the strike length and width of the gold mineralization in Lapon Rose and have also shown that the gold mineralization is present over 400 vertical meters. The zone is also open at depth and strike. We will continue our exploration at Lapon and are excited about the future at this project."
They still have more drill holes pending from their 2018 drill program that I will be watching for. It is clear with the grades from the known zone, as well as what could be a new zone or an extension of the known zone, that they are onto a serious project.
They have been somewhat of a patchy trader over the past year, with a modest valuation. I would expect their valuation and volume to increase on the stock as this recent drilling and future drilling looks like it will deliver strong gold results.
All the best,
Allan Barry Laboucan
Allan Barry Reports
Advance Gold (AAX.V)
P.S. my reports are for information purposes only, before making any investment decisions it is important to do your homework and speak with your financial advisers.