GTA Mining and Resources (TSXV:GTA): Bonanza Start for Big Duck Lake

Ubika Research analyst provides an update on the latest core sample results from GTA Mining and Resources Inc. (TSXV:GTA), which included 320.1 g/t gold

SmallCapPower | January 30, 2018: Bonanza grade from final assay results. On January 29, 2018, GTA Mining and Resources Inc. (TSXV:GTA) reported the last core sample from its completed drill campaign at Big Duck Lake located 25km north of Schreiber, Ontario. The results were highlighted by 320.1 g/t Au over 1.3m, including an interval grading 823.1 g/t Au over 0.5m. The stock responded well and ended 11% higher, posting one of the highest volume days over the past year. For reference, within the initial set of results shown released on January 15, there was one over-limit sample from Hole BD17-01 with over >10 g/t Au that had to be re-run at the lab.

Related: A Big Start for Big Duck Lake

Solid results to start. Recall, on January 15, GTA reported the initial drill results from Big Duck Lake located 25km north of Schreiber, Ontario. All holes hit and confirmed mineralization and were targeted within the historic pit shell. Results reported are from four holes, highlighted by 1.65 g/t Au over 44.0m, including an interval of 5m grading 5.9 g/t Au, as well as 36.8m grading 1.01 g/t Au. This drill program targeted the Coco-Estelle gold zone near surface, down to a depth of 90m.

What grades could make an open-pit mine in Canada? As shown below, most of the more well-known operating open-pit mines in Canada have reserves that range 1 g/t Au or lower. While these results are very early days, the results released in the program, in addition to the bonanza result, showed solid near-surface gold grades, which in our opinion, justify a follow up program.

 

The historic Winston Lake Mine produced at similar gold grades. For reference, Big Duck Lake is located 4km east of the Winston Lake mine, which produced 2.68Mt grading 1.05% Cu, 12.05% Zn, 1.07 g/t Au and 31.37 g/t Ag over 11 years.

Canadian Open-pit Reserve Grades

 

Read the entire news release here:

https://new.smallcappower.com/module/?page=detailedquotetabchartnews&symbol=GTA:CA&qmodStoryID=5122514068107323

To find out more about GTA Resources and Mining, please visit the company’s Investor Hub.

GTA Resources and Mining Inc. (TSXV:GTA) is a featured sponsored company and has paid SmallCapPower.com a fee for coverage. To learn more, see our full disclosure HERE >>

To read our full disclosure, please click on the button below:

The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.