Exploring Mining Podcast 325 - News from (NYSE: AGI) (NYSE: IAG) (CSE: WDGY) (CSE: ARQ)
Vancouver, Kelowna, Delta, BC - February 2, 2023 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering mining and metals stocks releases today's edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV, CSE, ASX, NASDAQ, NYSE companies plus interviews with CEO's and leading experts.
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Exploring Mining Podcast 325 - News from (NYSE:AGI) (NYSE:IAG) (CSE:WDGY) (CSE:ARQ)
Alamos Gold Inc. (NYSE:AGI) has reported new results from ongoing surface exploration drilling at Puerto Del Aire (PDA), further extending high-grade gold mineralization outside of Mineral Reserves and Resources. John A. McCluskey, the company's President and CEO, explained:
"Given PDA's higher grades and proximity to the Mulatos pit, we see excellent potential for this to be another low-cost, high-return project further extending the mine life at Mulatos. Over the past 18 years, Mulatos has produced 2.5 million ounces of gold while maintaining a similar Reserve life today as it had in 2005. Given our ongoing exploration success at PDA, and the potential within the District, we expect this trend to continue."
IAMGOLD Corporation (NYSE:IAG) has announced additional assay results from its ongoing diamond drilling program at the Gosselin zone discovery, near the Cote Gold deposit in Ontario, Canada. Cote Gold itself, according to the press release, is currently under construction and is expected to commence production in early 2024. Craig MacDougall, the company's EVP of Growth, said:
"We are very pleased to see that the results from the 2022 drilling program support the anticipated expansion potential at Gosselin, specifically south of and below the interpreted resource boundaries of the deposit model. Future drilling programs at Gosselin will continue to target the extensions of the deposit towards the goal of defining further potential resource expansion and resource classification upgrades."
Wedgemount Resources Corp. (CSE:WDGY) has commenced its phase-one field program on its recently acquired Willowbend light oil project located in the Permian Basin of central Texas. According to the press release, the program will consist of "chemical clean-outs of both operating wells and the producing Gardner formation, optimization of surface facilities, and a study of historic bypassed pay zones." The company's President and CEO, Mark Vanry, said:
"We're delighted to commence the Company's first ever field program in the Permian Basin. Chemical cleanouts followed by well workovers and new zone perforations are a key part of our initial plan to grow production from the underexploited and underdeveloped Gardner formation. Petrosaurus' proprietary oil well chemical treatments are a key component of Wedgemount's strategy of acquiring and optimizing under-performing conventional light oil assets in central Texas."
Argo Gold Inc. (CSE:ARQ) has announced that it is going to focus on near-term oil production opportunities and not acquire the long lead-time Clearwater acreage, and will not close the purchase and sale agreement to acquire 7,600 contiguous hectares of Clearwater oil land in the Nipisi area of Alberta, Canada for $725,000. The press release also indicates that the company "has entered into a second participation agreement with Croverro Energy to participate in a second horizontal Sparky oil well proximal to Lloydminster, Alberta," and that it will "pay the operator 25 percent of the cost to drill, complete, and fully equip or abandon the well to earn an 18.75 percent working interest in the well."
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