|Kaiser Watch June 30, 2022: Summer drill plays for discovery bets
|Jim (0:00:00): What did the final results from Endurance Gold’s RC drill program at Reliance tell us?
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Endurance Gold Corp has an emerging discovery at its Reliance gold project which is now the focus of an 8,000 m core drilling program this summer. The company just reported final results for the spring RC program which has now extended the Eagle Zone for 400 m and still going strong. This Bottom-Fish Spec Value rated junior has been unable to break out of the $0.30-$0.40 range due to market concern that the Eagle Zone which developed within the 300 m wide Royal-Treasure shear corridor may not have million ounce plus gold potential because the shallow dip of the Eagle Zone gets truncated by a thrust fault at the western margin of the corridor. However, in 2021 core hole 21-20 in the Eagle South extension appeared to demonstrate that there is a flexure that turns the Eagle Zone sub-vertical. As this is an epizonal orogenic gold system tonnage could be developed to a substantial depth. The RC program demonstrated that the shallow portion of the Eagle Zone is still strongly mineralized at the SE limit of the 1,500 m trend. The core rig is now drilling along the 200 m segment of the 020 Zone, formerly called Eagle South, in an effort to prove that the sub-vertical flexure continues at depth. 5 holes for 1,109 m have so far been drilled; EDG is not describing them and is not reporting XRF read arsenic values because such readings are unreliable for core, but these will still be too shallow to confirm the hypothesis. It will likely be August when deeper holes have been drilled before we know if the 020 Zone persists at depth. Failing that, EDG will continue to push the road up the hill where a gold in soil geochemical anomaly suggests the Eagle Zone continues. EDG does not have a significant warrant overhang.
Disclosure: JK owns shares of Endurance; and Endurance are Bottom-Fish Spec Value rated
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John Kaiser was born in Vancouver, Canada and graduated from the University of British Columbia in 1982 with a BA in philosophy and German. In January 1983 he began work as a research assistant with Continental Carlisle Douglas, a Vancouver brokerage firm that specialized in Vancouver Stock Exchange listed securities. In 1989 he moved to Pacific International Securities Inc where he was research director until April 1994 when he moved to the United States with his family. From 1989 until 1994 he was also a registered investment advisor.
John Kaiser worked six months as a researcher for Bob Bishop’s Gold Mining Stock Report before branching out on his own with the publication of the first issue of the Kaiser Bottom-Fishing Report in October 1994. Initially a print newsletter, the Kaiser Bottom-Fishing Report evolved into Kaiser Bottom-Fish Online which, with the addition of a powerful category based search engine in 2012, evolved into Kaiser Research Online whose mandate is to serve as a research tool covering all resource sector stocks. In 2017 KRO expanded to include ASX listings.
John Kaiser is currently involved as a founder with The Share Collective, a fee based portal that enables members to visualize and share potential project outcomes in a public space.
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