QIS Update #7 - 2017 - The latest news from Blue River Resources, Fairmont Resources and NTG Clarity Networks - June 23rd 2017
- - Blue River Resources to commence joint drill program at Okalla West, amends option agreement on Mazama copper property
- Fairmont Resources announces litigation with Eureka Trading
- NTG Clarity Networks announces new letter of intent for Smart Building Solutions
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Blue River Resources Ltd. (BXR:TSX-V)
Current Price: $0.04 (coverage commenced Feb. 14/17 - $0.045)
Angkor Gold Corp. (ANK:TSX-V) CEO Mike Weeks has announced that preparations for diamond drilling on the Okalla West project are underway. The program is being conducted in cooperation with Blue River Resources Ltd.
Diamond drilling is expected to commence in the next week. Phase 1 drilling is planned to consist of up to a total of 500 metres. The holes are intended to determine the orientation, width and frequency of mineralized structures and confirm the style and intensity of country rock alteration. A Phase 2 drill program is planned to follow Phase 1, after analysis of the results of the Phase 1 drilling. The target to be drilled is 600 meters in length from north to south and about 300 metres east to west and is open in all directions. The Okalla West prospect is situated within a 27 km2 intrusive complex on the Banlung Property and the drill program is expected to provide a better understanding of potential mineralization within this zone.
Pit samples collected at one vertical metre intervals from the surface deposit were analyzed for gold plus multi-element analysis by ALS Chemex assay labs. The results indicate that gold mineralization is intimately associated with both bismuth and tellurium. The association of gold with both bismuth and tellurium indicates that the veins are associated with the alkalic diorite that hosts them. Auger sampling has indicated that the gold mineralization is in an altered and faulted diorite similar to Emerald Minerals' Okvau gold deposit located approximately 80 km to the south.
"The presence of bismuth and tellurium associated with gold is typical in structurally controlled alkalic intrusive hosted gold deposits," said Angkor's Exploration Manager, Dennis Ouellette. "Bismuth is believed to play a crucial role in gold enrichment. Because there is no rock outcropping in the area, drilling is necessary to determine the relationship between the faults, veins and near surface gold mineralization."
Excavation pits consist of lines of pits laid across identified gold in soil anomalies in irregular east/west orientation. Individual pits are approximately 1m wide and 2m long, dug to the depth of the deeply weathered surface layer. Pits are hand dug every 15 m centre. Each pit is sampled from the top to the bottom of the deeply weathered surface material for pan concentration. A second smaller sample was collected and sent for metallic screen analysis. In addition, the bedrock was sampled by an auger hole from the bottom of the pit. The auger holes test as deep as is possible into the weathered bedrock. The deepest so far has been 7.2 metres measured from the surface profile. Auger samples collected immediately beneath the deeply weathered surface layer were sent for gold and multi-element analysis.
Angkor's QA/QC protocol requires calibration standards and blanks be inserted at a rate of 10 per 100. In addition, periodic checks are run on a selected spectrum of samples at ALS Chemex laboratories. All soil and rock samples are submitted to ALS Mineral-Australian Laboratory Services (Cambodia) Co. Ltd for preparation in Phnom Penh, and gold analyses are done by ALS by standard fire assay in their Vientiane laboratories. All other analyses are by ICP-ME and ICP22 in their Australian laboratories. Initial assays use their Au-ICP22 method of standard fire assay with an ICP-Atomic emission spectrometry finish on a 50gm aliquot, which has a detection range of 0.001 to 10 g/t. Check assays use the Au-AA26 method of standard fire assay with an ICP-Atomic absorption spectrometry finish again on a 50gm aliquot, which has a detection limit of 0.01 to 100 g/t. Metallic screen analysis, using their Au-SCR22 method of standard fire assay with an ICP-Atomic absorption spectrometry finish after screening to 75 microns use a 1kg nominal weight sample, with assay of the entire oversize fraction and duplicate assay on 50gm aliquots of the undersize fraction. This last method has been done at the recommendation of the laboratory to avoid over or under-estimating gold grades because coarse gold was suspected.
Further to the news release dated Feb. 27, 2013, Blue River Resources Ltd. has entered into an agreement with Mazama Minerals Inc. (the optionor) dated Feb. 16, 2017, that amends the Feb. 25, 2013, agreement between the parties.
The Feb. 16, 2017, amended option agreement extends the date by which the company is required to incur the remaining $175,000 in exploration and development expenses to Dec. 27, 2018, and, in consideration therefor, the company is required to pay an additional $75,000 and issue an additional 500,000 shares to the optionor.
The company also announces that $100,000 of the outstanding cash payments owing to the optionor were settled on a shares-for-debt basis. The amended option agreement is subject to approval by the TSX Venture Exchange.
Fairmont Resources Inc. (FMR:TSX-V)
Current Price: $0.035 (coverage commenced Feb. 18/16 - $0.025)
NTG Clarity Networks Inc. (NCI:TSX-V)
Current Price: $0.035 (coverage commenced Feb. 4/10 - $0.045)
NTG Clarity Networks Inc. has announced that it has started work under a Letter Of Intent with a leading electrical contractor, to supply, implement and integrate Smart Building solutions for the Ministry Of Health in a Middle Eastern country. The solutions cover the latest technology in Networking, Security CCTV, Access Control, Public Address Audio Visual, IPTV, Queuing, and Nurse Call Systems. The project size is over CAD $720,000 and is expected to be completed in 4 months.
NTG started the Smart Building technology line of business last year with a focus on various customers' verticals. The line of business offers solutions in Automation, Building Management, Building Integration, Triple Play Network, Security CCTV, Security Access Control, Audio Visual, Public Address, IPTV, Queuing, Nurse Call, RFID tracking, Parking Management Systems and others.
"We are pleased to have this strategic project. We trust that the Smart Building solutions will open a new range of opportunities for NTG," said Ashraf Zaghloul, NTG Clarity's Chairman and CEO.
QIS Capital: We are very pleased to see a new contract announcement from NTG Clarity. While several smaller contracts have been received over the past year, most of these have been ordinary course of business which have not resulted in a separate press release. This latest announcement is from the Smart Building Solutions, a new targeted industry for NTG Clarity. While there is still a ways to go for NTG Clarity to regain its financial footing, we are hoping to see continued new contracts over the summer months