Mincor hits bonanza gold at a nickel deposit.
Rio Tinto’s best drill result from Winu gets downgraded.
Pretium with over 100 meters 5.56g/t Au at Brucejack.
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If you’re into investing in the mining sector, you should know the above chart very well. This series covers the three projects with the most significant drill interceptions over the past week as well as the prospects of the companies which own these projects. I will use data from the weekly bulletin of RSC Mining and Mineral Exploration, which can be found on its website. Note that the drill interceptions are converted into grades of gold equivalence using the following formula:
RSC Mining and Mineral Exploration has chosen gold as the metal equivalent for all conversions, as it considers it the most widely used and best-understood benchmark to determine or appreciate the grade tenor of a drilling intercept.
1) Cassini nickel deposit in Australia
On June 7, Mincor Resources (OTCPK:MCRZF) announced that it intersected 1.45m @ 1,045g/t Au from 416m in hole MDD317W3 at its Cassini nickel deposit. This is equal to 1,515(AuEq.)m and included an interval of 0.21m @ 7,610g/t t Au. And yes, there is no mistake, this is a nickel project. The hole intersected a gold bearing quartz vein while progressing towards the nickel target zone, which is around 200 meters down: