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August 31st, 2020
Dear Valued Readers,
 
There was a general sentiment that Powell's Jackson Hole speech would really take gold for a ride but that really didn't happen. There was a spike up, then down and now it has broken the upper trend line and is moving up. Currently about $1967 up $20 from when we last wrote. After $1981 we have resistance at $2015, then $2075 the all time high. 
[ 4HR Chart here ]
 
The Dow Jones 30 is diverging on the 4HR chart and has engulfed (yellow candle). It has reached the moving averages, so tomorrow will be interesting to see if it continues going lower  towards the mid trendline (yellow), or are we pushing up some more.
[ 4HR Chart here ]
 
OIL?? No volatility now? Trading at a 61.8 % Fib retracement (January 8th[High] to April 21st [LOW]). Also trading at Dec. 26th, 2018 low point (resistance). It just feels like its going to roll over, look at that slow flattening. I could be wrong.... :-)
 
Our featured company Rockridge Resources $ROCK is drilling in September!
The stock continues to trade near 52 week highs and is up .015 since our last newsletter.
 
News Articles:
 
[ National Post ] U.S. FDA chief willing to approve a COVID-19 vaccine before Phase 3 trials end ...... Stephen Hahn insisted he would not rush a vaccine to please the president, amid reports that Trump wants a vaccine to be available before the November election
 
[ AppleInsider ] Apple 4-for-1 stock split process completes [ $AAPL ]
 
[ Investor's Business Daily ] Dow Jones Falls 150 Points Amid Coronavirus Vaccine News; Apple, Tesla Jump On Stock Splits, But Nio Dives 9%
 
[ YouTube ] Eric Sprott's Weekly Wrap Up - August 28th, 2020
 
Updates on my watch list near the bottom.
 
If you would like to feature your company please reply to the newsletter with information about your company's projects, share structure, and contact info.
Thanks.
 
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Our new featured company is a gold and copper explorer.

Rockridge Resources (TSX.V: ROCK) is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada, specifically gold and copper. Rockridge’s general strategy is to go into historical, prolific mining districts with modern exploration techniques and methodologies to test new ideas and make new discoveries. Specifically, Rockridge is acquiring and rethinking projects with gold or copper as the primary credit, which are within reach of existing infrastructure in geopolitically favourable jurisdictions. 
 
The Company’s core gold project and current focus is the Raney Project, which is a highgrade gold exploration project located in the same greenstone belt that hosts the world class Timmins and Kirkland Lake lode gold mining camps.
 

Symbol: ROCK
Exchange: TSX Venture
Shares Outstanding: 49.1M
52 Week High: .23
52 Week Low: .07
Currently: .20

Rockridge recently raised $1.7 Million at 10 cents with a warrant at 17.5 cents.  
 
The Company’s other asset is the Knife Lake Project located NW of Flin Flon in Saskatchewan. The Knife Lake Project is a remobilized shallow VMS deposit with a significant copper dominated resource. Strong discovery potential exists at both of the Company’ projects. Rockridge’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in mining-friendly jurisdictions. 
The April 30th [ Resource World ] article discussing their previous 9 hole drill program which included 6m of 28g/t gold (uncut).
 
The July 31st Report by Bob Moriarty of 321 Gold can be read [ here ].

 

Respond for Company's Web Site, CEO interview, Fact Sheet, and access to the 34 Page Corporate Presentation. [Click for Access]
 


 

Rockridge's Raney Gold Project which they are Drilling in September
 

• Located in similar geologic setting that hosts the world-class Timmins gold mining camp

• Gold-bearing structures were discovered on the property during previous exploration campaigns, limited geological work in past included trenching, sampling, geophysics, and drilling. Best historic intercept was 6.5 g/t gold over 8.0m. in 2010/11

• Early 2020 exploration program entailed 2,070 metres in nine diamond drill holes: highlight intercept of 28 g/t gold over 6 metres (uncut) – see image above

• Broad structural corridor that hosts the mineralization is open for expansion. Historic mapping and surface sampling data show that the mineralized zone may extend over several hundred metres, with no drilling completed over a large extent of this corridor

• The project hosts excellent infrastructure; access and geologic setting are advantageous for future resource development potential

• Newmont, the world’s leading gold mining company, is very active in the region with its newest mine (Borden Mine) ~ 40km W of Raney 
 

  
Editorial Comments:
 
Auryn Resources 
First mentioned last year at $1.53 and it ran this year to a high of $3.55! 
The company is down .21 today to $2.55 on news of a large financing. Either people aren't understanding the splitting of the company and the financing or I'm missing something. 
 
"Auryn and Eastmain Announce a C$22.5 Million Equity Financing" [ Full News ]
 
Durango Resources ( DGO TSX-Venture ) [ Durango Web Site ]
[ I own stock in this one ]
 
Featured last year at 7 cents.
Currently: .14   52 week high: .175
 
Durango holding in the .14 range. On July 2nd the company stated they would be taking till and rock samples, we are anticipating those trench and ground sampling results soon.
They should be announced before drilling starts in September. 
 
From the News last week: 
Durango to begin Exploration Program at Windfall Lake
 
"The excavating equipment will remain on site during the program as Durango will rehabilitate some sections of logging roads to allow for full access of the equipment which will include leveling and widening in areas on both the Trove Property and the parallel East Barry Property, as necessary.
Durango has identified 12 immediate drill targets for the Trove Property to test favourable IP signatures which coincide with geochemistry and geophysical anomalies including gold that was previously found in till samples. The drill campaign is scheduled to begin on or about the 15 th of September on the Trove Property. Additional updates on the drill plan details will be released shortly.
Marcy Kiesman, CEO of Durango, stated, "We have just completed our largest financing in the history of the Company and I am very enthusiastic that Durango has a real opportunity to explore and complete drilling on all of the key areas set out in the initial drill program. Durango is in a position to continue drilling if the mineralization continues to correspond to that reported by Osisko Mining on their neighbouring property. The potential for the Trove and East Barry properties is high."
On August 25, 2020, Globex Mining Enterprises Inc. (TSX-GMX) announced it sold six cells in the Windfall Lake mining camp to Osisko Mining Inc. (TSX-OSK). As stated by Globex, "...two are near, to southwest and on strike of the Black Dog gold deposit." These two cells are tied to Durango's Trove Property northern boundary and 500 meters away from the drill targets planned in the upcoming campaign."
 
The interesting paragraph is the one above. Globex sells Osisko $OSK two properties right next to Durango's Trove claims. There seems to be some interest in the area....

Durango also has a property in the Troilus area. The area is really heating up. News out today was from Northway Resources $NTW. Northway is currently halted because they are acquiring Kenorland Minerals (private company). They announced "Kenorland Minerals intersects 33.69 g/t Au over 2.66m at new zone during follow-up drill program at Regnault; reports results of regional till sampling program" [ Full News ]
 
Previous Financing News:
 
$2.82 Million financing. A bit more than I thought and Palisades Goldcorp Ltd took 10,000,000 of the units.
 
Palisades.ca: Canada's New Resource Merchant Bank
Palisades Goldcorp was launched to capitalize on this deep value disconnect between the broader commodities market and junior resource equities. Money that has poured into bullion dealers, gold-focused ETFs, and major mining companies over the past few months has just begun to trickle down to junior resource companies. Their share prices remain beaten down, with their management teams forced to raise capital at highly discounted valuations. However, this state of affairs cannot and will not persist. As the commodities bull market gains steam, junior resource companies are poised to outperform the natural resource sector as a whole.
 
Now with money in hand, Durango can do their drilling.
 
Windfall property ( going to be drilled )
Troilus property
Gold price keeps going higher
 
Do your own research!
 
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Treat this section as a very opinionated BLOG.
I do not provide trading advice and you should do your own research.
 
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