TSX Venture falls, Dec. 10-14

Aurion Resources jumped 21¢ to $1.10 per share on drill results from its Risti project in northern Finland. The company reported that high-grade mineralization intersected in several drill holes in the Aamurusko zone may define a coherent zone or shoot made up of at least two primary gold-bearing vein sets filling the space of the shoot. Aurion noted that finding a shoot-like geometry linking intercepts is an “exciting development, as mineralized shoots tend to be vertically continuous for long distances down-plunge, and are expected features in orogenic gold systems.” Highlights included 17.1 grams gold per tonne over 2 metres in drill hole 75, which was 80 metres down-plunge of drill hole 42, which cut 789 grams gold over 2.9 metres. Twenty-five metres up plunge of drill hole 42, drill hole 77 returned 2 metres of an 8.2-metre-wide vein that contained 18 specks of visible gold. Assays for the hole are pending.

Shares of Emerita Resources surged 67% to 3¢, on news that it has received permits to explore the Plaza Norte project in northern Spain. The project in Spain’s Cantabria region is a joint venture with the Aldesa Group, a major Spanish construction and infrastructure firm. Plaza Norte is in the Reocin basin, which hosts the Reocin mine — formerly one of Europe’s premium zinc producers. The mine produced 62 million tonnes grading 11% zinc and 1% lead. Emerita says Plaza Norte is immediately adjacent and hosts extensions to the Reocin mine, and that the region “has a strong understanding of the economic benefits associated with a modern mining operation.” The exploration permit is for three years and Emirta expects to drill in the first quarter of 2019. The joint-venture partners have a historical database that includes more than 300 drill holes, or 73,000 metres of drilling.

A strategic financing with Goldcorp and RCF Opportunities Fund propelled shares of Japan Gold up 59.3% to 22¢ apiece. Japan Gold announced it plans to issue 44.33 million common shares at 15¢ per share in a private placement, and raise $6.65 million. Goldcorp has agreed to subscribe for 22.6 million common shares for a 19.9% stake in the junior, and RCF Opps will acquire 10 million shares for an 8.8% interest in the company. Southern Arc Minerals will also buy 10 million shares. Under the arrangement, Goldcorp will participate on a joint technical committee. Proceeds from the offering will help explore and develop Japan Gold’s assets in Japan, complete regional reconnaissance work to identify new targets, and for general corporate and working capital. Japan Gold and First Quantum continue to explore four copper-gold lithocap projects in the country.